4 star ratingAverage User Rating:
4 star rating based on 1 review.

Sandy Spring Direct

17801 Georgia Avenue
Olney, MD 20832
1-888-571-8319
www.sandyspringdirect.com
Sandy Spring Direct was created to meet the needs of Sandy Spring Bank’s online community. Sandy Spring Bank is headquartered in Olney, Maryland and has over 125 years of banking experience. Sandy Spring is very active in the communities they serve. From sponsoring events to raising money for charity; coordinating community celebrations to rebuilding low income homes; and setting up in-school banks to teaching kids the value of saving money, Sandy Spring Bank is committed to making the communities they serve a better place to live, work and raise a family.

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3.50% Money Market Account Guaranteed for 9 Months at Sandy Spring Direct - 10/15/2008

Sandy Spring Direct is a new internet bank, and it's offering 3.50% APY guaranteed for 9 months on its eDirect Money Market Account. A few of the important details include:minimum opening deposit: $1,000maximum opening deposit: $90,000$10 monthly...



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See Rates for: Savings | CD

Sandy Spring Direct Savings Account Rates

ApyMinMaxProduct
0.25%-$2,500My Free Savings

Sandy Spring Direct CD Rates

ApyMinMaxProduct
0.60%$10k-27 Month CD

Rates updated: 2/9/2012

Data for Q3 2011


Institution Statistics


Sandy Spring Bank
FDIC Certificate #4865
BankRate ReportView
Year Established1900
Employees686
Primary RegulatorFED

Assets and Liabilities

Assets$3.62 billion
Loans$2.12 billion
Deposits$2.65 billion
Equity Capital$431.91 million
Loan Loss Allowance$49.72 million
Unbacked Noncurrent Loans$74.67 million
Real Estate Owned$7.94 million

Historic Data - September 2010

Assets$3.60 billion
Equity Capital$397.31 million
Loan Loss Allowance$67.28 million
Unbacked Noncurrent Loans$92.14 million
Real Estate Owned$10.01 million

Profit Margin - Quarterly

Net Interest Margin3.5%
Return on Assets1.02%
Return on Equity8.86%
Interest Income$104.76 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Sandy Spring Direct had $82.6 million in non-current loans and owned real-estate with $481.63 million in equity and loan loss allowances on hand to cover it. This gives Sandy Spring Direct a Texas Ratio of 17.15% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Sandy Spring Direct decreased slightly from 21.54% as of September 30, 2010 to 17.15% as of September 30, 2011, resulting in a positive change of 20.37%.This indicates that the balance sheet and financial strength for Sandy Spring Direct has improved slightly in recent periods.
Deposit Growth3
In the past year, Sandy Spring Direct has increased its total deposits by $7.95 million, resulting in 0.3% 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 Direct has shown is average.
Capitalization5
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 Direct has $3.62 billion in assets with $481.63 million in equity, resulting in a capitalization level of 13.29%, which is excellent.
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Sandy Spring National Bank (Olney, Maryland)
4 stars - warnerjm - Wednesday, September 8, 2010 - 4:26 AM

This bank is small compared to many others, but therein lies their strength - they offer all the products of the mammoth institutions while they're still able to deal with you as a person rather than a number. My only quibble is that I can't access their CD, Moneymarket, savings, etc., rates online (I am not a participant in online banking so perhaps that's the problem).

4
 
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