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Overview / Commentary
17801 Georgia Avenue
Olney, MD 20832

Sandy Spring Bank is headquartered in Olney and is the largest bank in the state of Maryland. It is also the 205th largest bank in the nation. It was established in 1900 and as of March of 2014, it had grown to 719 employees at 47 locations. Sandy Spring Bank has a A+ health rating.

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Reviews (8)

Sandy Spring Bank Is A Disaster

The poster about the business account is absolutely correct.  Sandy Spring has made error after error, charged ridiculous fees and changed the interest rate on my credit card from 13 to 30 percent for no reason.  They are impossible to work with and I can not wait until it is paid off and I never have to deal with these people again.  My personal account has been closed as the staff is totally incompetent.  I have told a huge circle of friends to stay away and many already knew this.

Poor Customer Service Especially At The Olney, Gaithersburg And Montgomery Village Locations

I banked here for almost 15 yrs.  most of these branches have lazy staff. no more 

Worst Bank In Maryland


I have been with this bank for over 20 years with 3 different accounts. Every year they get worse, when other banks are getting better with hours and services. The bank hours are so bad I can only make the drive thru one day a week. Online service is just not up to par for 2013 and the staff are the ruddiest people they can find. Last year one of the employees either stole or sold my debit card that never got to me and stole 15K and had to fight tooth and to put it back the money in my account for over a week, they could have cared less.



The last straw to me finally changing banks was trying to cash a check and the Manager at the Aspen Hill Branch gave me such a hard time and wasted 30 minutes just trying to cash a check and wouldn't do it because it was a business check. She made me get out of my car and go to the ATM. I should thank her because that got my lazy butt in gear and change to a real bank, one that has hours and services like taking a photo of my check to cash. If you want hassles, high fees and bad hours this bank is for you.

Sandy Spring Bank Is The Worst For Small Business

sandy spring should take their radio ads that the president of the bank does off of the air.  He blows smoke about how great their bank is for small business.  It is the worst bank for small business.  They will not loan money to them, they will not give credit lines, yet they advertise as if they are the best thing going.  Do not lie about what you are willing to do and not do.  They have become a major dissapointment for our company, and we make money and have great credit.  We cannot get away from them quick enough

Terrible Customer Service

The only account I have at Sandy Spring is a Health Savings Account through my company.  I don't access the account often, but when I have attempted to log-in on their website, I can find no way to do so. Sure, someone will eventually talk you through it over the phone -- if you call during regular business hours -- but the idea of making web banking difficult for your customers strikes me as negligent at best, and plain stupid at worst. I've called and written asking them to address this easy-to-fix deficiency, with zero result.  This may seem trivial, and it is, but it's an indication of how Sandy Springs Bank treats customers. Be warned.

Not A Good Small Business Bank

I agree with Worst bank for small businesses like the other reviewer.  Hours have changed so it is difficult to make deposits before you op[en for business and they now close earlier to it is difficult to make deposits when you close your business for the day. Their overdraft fees are rediculous. If you apply for overdraft protection, you will need to read a book to apply. My credit is good, but what a pain.  My business landlord went to Sandy Spring Bank and cashed his rent check at the teller. This was a large check and the funds were available in my account when he did this.  The next day I was charged an overdraft fee on that check he cashed.  When I called the bank about this I was told that later that night another check came in which caused that fee.  I explained that if the funds were in the account when the teller cashed the check I should not be charged a fee for overdraft.  They refused to refund the fee. My husband has overdraft protection and they still charge him fees. He has called numerous times before that was corrected. Time to find another bank that cares about their customers.

Poor Customer Service

Sandy Spring has the worst, most incompetent customer service of any Bank I've ever dealt with. I cannot wait to close my accounts and find another Bank. They genuinely don't care whether you bank with them or not, and their poor attitude shows.

Do NOT Use Them For A Home Mortgage

My husband and I went to Sandy Spring for a home loan. They lied to us multiple times, giving us faulty excuses as to why the loan was taking so long to process. We ended up going with another lender because we were so unsatisfied with their services. We do not recommend using them for a home loan!


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Sandy Spring Bank had $34.76 million in non-current loans and owned real-estate with $534.98 million in equity and loan loss allowances on hand to cover it. This gives Sandy Spring Bank a Texas Ratio of 6.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Sandy Spring Bank decreased dramatically from 9.53% as of March 31, 2013 to 6.50% as of March 31, 2014, resulting in a positive change of 31.86%.This indicates that the balance sheet and financial strength for Sandy Spring Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Sandy Spring Bank has increased its total deposits by $40.07 million, resulting in 1.37% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Sandy Spring Bank has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Sandy Spring Bank has $4.17 billion in assets with $534.98 million in equity, resulting in a capitalization level of 12.84%, which is excellent.

Institution Statistics

FDIC Certificate #4865
Year Established1900
Primary RegulatorFED
Assets and Liabilities
Assets$4.17 billion
Loans$2.80 billion
Deposits$2.97 billion
Equity Capital$496.95 million
Loan Loss Allowance$38.03 million
Unbacked Noncurrent Loans$33.14 million
Real Estate Owned$1.62 million
Historic Data - March 2013
Assets$3.93 billion
Equity Capital$477.47 million
Loan Loss Allowance$41.25 million
Unbacked Noncurrent Loans$33.14 million
Real Estate Owned$5.25 million
Profit Margin - Quarterly
Net Interest Margin3.34%
Return on Assets1.08%
Return on Equity9.06%
Interest Income$36.25 million

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Sandy Spring Bank Savings Account Rates

0.05%--Senior Interest Banking
0.05%--Simple HSA
0.05%$25-Regular Savings
0.05%$25-Regular Savings - Commercial
0.05%--Young Savers
0.03%--ESA Savings
0.03%--IRA Savings

Sandy Spring Bank Money Market Rates

0.35%--Business Premier Money Market Savings - Rate During 3 Month Guarantee
0.15%$250k-Premier Money Market Savings
0.15%$250k-Business Premier Money Market Savings
0.04%$250k-Market Index
0.04%$250k-Business Market Index
0.03%--Money Market Savings
0.03%--Business Money Market Savings

Sandy Spring Bank Checking Account Rates

1.00%$50-Maryland IOLTA Checking
0.65%$50-DC IOLTA Checking
0.25%$50-Virginia IOLTA Checking
0.25%$50-MAHT Checking
0.25%--CRESPA Checking
0.20%--Escrow Management Interest Public Funds
0.20%--Escrow Management Interest
0.10%$50-Commercial Interest Checking Account
0.05%--Premier Banking
0.05%$50-Business Interest Checking Account

Sandy Spring Bank CD Rates

2.00%$10k-60 Month Premier CD Special
2.00%$10k-60 Month Premier Business CD Special
1.65%$1k-60 Month Business CD
1.65%$1k-60 Month CD
1.40%$1k-48 - 59 Month Business CD
1.40%$1k-48 - 59 Month CD
1.20%$10k-27 Month Premier CD Special
1.20%$10k-27 Month Business Premier CD Special
1.05%$10k-29 Month CD Special
1.05%$10k-Business 29 Month CD Special
0.95%$1k-36 - 47 Month Business CD
0.95%$1k-36 - 47 Month CD
0.80%$1k-30 - 35 Month CD
0.80%$1k-30 - 35 Month Business CD
0.55%$10k-20 Month Business Special CD
0.55%$10k-20 Month Special CD
0.55%$10k-13 Month Business Premier Special
0.55%$10k-13 Month Premier Special
0.45%$1k-24 - 29 Month Business CD
0.45%$1k-24 - 29 Month CD
0.35%$1k-18 - 23 Month Business CD
0.35%$1k-18 - 23 Month CD
0.25%$1k-12 - 17 Month Business CD
0.25%$25k-13 Month No Penalty Business CD
0.25%$1k-12 - 17 Month CD
0.25%$25k-13 Month No Penalty CD
0.10%$1k-6 - 11 Month Business CD
0.10%$1k-6 - 11 Month CD
0.10%$500-18 Month Investor CD
0.10%$500-18 Month Business Investor CD
0.05%$10k-30 Day Business CD
0.05%$10k-60 Day Business CD
0.05%$10k-90 Day Business CD
0.05%$10k-30 Day CD
0.05%$10k-60 Day CD
0.05%$10k-90 Day CD

Sandy Spring Bank IRA Rates

2.00%$10k-60 Month Premier IRA Special
1.65%$1k-60 Month IRA
1.40%$1k-48 - 59 Month IRA
1.20%$10k-27 Month Premier IRA Special
1.05%$10k-29 Month IRA Special
0.95%$1k-36 - 47 Month IRA
0.80%$1k-30 - 35 Month IRA
0.45%$1k-24 - 29 Month IRA
0.35%$1k-18 - 23 Month IRA
0.25%$25k-13 Month No Penalty IRA
0.25%$1k-12 - 17 Month IRA
0.10%$500-18 Month Investor IRA
0.10%$1k-6 - 11 Month IRA
0.05%$10k-30 Day IRA
0.05%$10k-60 Day IRA
0.05%$10k-90 Day IRA

Sandy Spring Bank has 50 locations. Click to view all Sandy Spring Bank locations.