Sandy Spring Bank

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 134th largest bank in the nation. It was established in 1900 and as of June of 2022, it had grown to 1,140 employees at 56 locations. Sandy Spring Bank's money market rates are 9X the national average, and it has an A health rating.

I Love This Bank

I have been with Sandy spring Bank for several years. I have never had a problem, the people who work there are helpful, curtius, and always cheerful. I have both my grandchildrens account there, and we all trust, admire and depend on them. This ( sandy spring bank) is the BEST bank I have ever done bussiness with any where!! If you want a bank you can trust and feel apart of, this is it. They make you feel like family.

Not Secure

My mortgage payment check was stolen/altered and cashed. It was for TIIA bank and someone by the name of Shawnte Reyfs cashed the check!!! I reported the fraud to the bank and was told, I had to Wait for 4 months for the money (over $ 2000.00) to be reimbursed. I am lucky to have the money to pay for my mortgage . But what about millions of people who may not be able to do so. First of all how in the world can something like this happen ? Second why the customers should wait so long to get reimbursed . I should add that I have been a customer of this bank for over a decade/good standing by all standards. very poor/lax security.

Go To Eagle Bank

Terrible Commercial banking and mortgages
We have been with Sandy Spring Bank since BOA closed Commercial lending in. Montgomery County Md. The Commercial side of Sandy Spring is terrible. We pay on time every month but they send letters of default in error and continue the threat to raise the interest rate. Since the interest rate has creeped up, they send these threatening letters and now today of 10% interest on a 200K balance on a building worth 2 million plus in Montgomery County. We will pay it off, but I do not say to use them Use any one but Sandy Spring.


Posted by: |

We attempted to work with Eva from Sandy Springs Bank to get a mortgage on our new modular home. We went with this bank specifically because they agreed to finance a modular. After months of waiting, after signing a contract with the builder, and getting loan approval from Sandy Springs - they pulled our mortgage just before signing as they no longer wanted to cover modular construction. She straight up called me a liar, saying I never told her it was modular construction. That's why we chose this bank in the first place. DO NOT TRUST THEM



Health Grade Components

FDIC Certificate #4865
Year Established1900
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.61%
Return on Equity - YTD12.27%
Annual Interest Income$219.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$13.30B$12.91B
LoansQ2 2022vs Q2 2021$10.70B$10.04B
DepositsQ2 2022vs Q2 2021$11.07B$10.95B
Equity CapitalQ2 2022vs Q2 2021$1.74B$1.65B
Loan Loss AllowanceQ2 2022vs Q2 2021$113.7MM$124.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$39.4MM$88.9MM
Real Estate OwnedQ2 2022vs Q2 2021$739.00K$1.2MM
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Always verify rates and promotions with the bank or credit union. We are not Sandy Spring Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Sandy Spring Bank Savings Account Rates

0.25%--Regular Savings
0.25%$10k-ESA Savings
0.25%--Business Savings
0.25%--IRA Savings
0.25%--Young Savers
0.10%--Escrow Management Interest Public Funds
0.10%--Escrow Management Interest
0.01%--Simple HSA

Sandy Spring Bank Money Market Rates

4.00%*$10m*-Money Market Reserve
OTHER TIERS: 2.50% $500k - $1m | 3.00% $1m - $5m | 3.50% $5m - $10m
4.00%*$10m*-Business Money Market Reserve
OTHER TIERS: 2.50% $500k - $1m | 3.00% $1m - $5m | 3.50% $5m - $10m
3.50%--Premier Money Market Savings - Rate During 6 Month Guarantee (New Money)
3.50%-$10mBusiness Premier Money Market Savings - Rate During 6 Month Guarantee (New Money)
3.50%--Premier Money Market Savings IRA - Rate During 6 Month Guarantee (New Money)
2.10%*$250k*$10mPremier Money Market Savings (New Money)
OTHER TIERS: 1.05% $10k - $25k | 1.30% $25k - $50k | 1.60% $50k - $100k | 1.85% $100k - $250k
2.10%*$250k*$10mBusiness Premier Money Market Savings - New Money
OTHER TIERS: 1.05% $10k - $25k | 1.30% $25k - $50k | 1.60% $50k - $100k | 1.85% $100k - $250k
0.25%--Money Market Savings
0.25%--Business Money Market Savings

Sandy Spring Bank Checking Account Rates

2.93%--DC IOLTA Checking
2.48%--Maryland IOLTA Checking
2.48%--Virginia IOLTA Checking
2.48%--CRESPA Checking
0.20%--MAHT Checking
0.01%--Premier Banking
0.01%--Senior Interest Banking
0.01%--Business Interest Checking Account

Sandy Spring Bank CD Rates

4.00%$1k-Business 48 - 59 Month CD
4.00%$1k-Business 60 Month CD
4.00%$1k-48 - 59 Month CD
4.00%$1k-60 Month CD
4.00%$2.5k$1m35 Month Promotional CD
4.00%$2.5k$1mBusiness 35 Month Promotional CD
3.75%$2.5k-14 Month Promotional CD
3.75%$2.5k-Business 14 Month Promotional CD
3.25%$2.5k-7 Month Promotional CD
3.25%$2.5k-Business 7 Month Promotional CD
2.50%$1k-Business 36 - 47 Month CD
2.50%$1k-36 - 47 Month CD
2.25%$1k-30 - 35 Month CD
2.25%*$25k*-Business 13 Month No Penalty CD
OTHER TIERS: 1.75% $5k - $25k
2.25%$1k-Business 30 - 35 Month CD
2.25%*$25k*-13 Month No Penalty CD
OTHER TIERS: 1.75% $5k - $25k
2.00%$1k-Business 24 - 29 Month CD
2.00%$1k-24 - 29 Month CD
1.75%$1k-Business 18 - 23 Month CD
1.75%$1k-18 - 23 Month CD
1.25%$1k-Business 12 - 17 Month CD
1.25%$1k-12 - 17 Month CD
1.00%$1k-Business 6 - 11 Month CD
1.00%$1k-6 - 11 Month CD
0.25%$10k-Business 90 Day CD
0.25%$10k-90 Day CD
0.15%$10k-Business 60 Day CD
0.15%$10k-60 Day CD
0.10%$10k-Business 30 Day CD
0.10%$10k-30 Day CD

Sandy Spring Bank IRA Rates

4.00%$1k-48 - 59 Month IRA
4.00%$1k-60 Month IRA
4.00%$2.5k-35 Month Promotional IRA
3.75%$2.5k-14 Month Promotional IRA
3.25%$2.5k-7 Month Promotional IRA
2.50%$1k-36 - 47 Month IRA
2.25%*$25k*-13 Month No Penalty IRA
OTHER TIERS: 1.75% $5k - $25k
2.25%$1k-30 - 35 Month IRA
2.00%$1k-24 - 29 Month IRA
1.75%$1k-18 - 23 Month IRA
1.25%$1k-12 - 17 Month IRA
1.00%$1k-6 - 11 Month IRA
0.25%$10k-90 Day IRA
0.15%$10k-60 Day IRA
0.10%$10k-30 Day IRA


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