Sandy Spring Bank is headquartered in Olney and is the largest bank in the state of Maryland. It is also the 131st largest bank in the nation. It was established in 1900 and as of June of 2020, it had grown to 1,164 employees at 67 locations. Sandy Spring Bank 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.
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.
Tyrannical Customer Service
The clerk at the Reston branch behaved like a man-hating tyrant. Despite multiple evidence of proof of identity she refused to recognize my ownership of an account and help me login online. She demanded IRS forms be retrieved! No, really. Arguing and providing even more ID made no difference. Fortunately, the central bank management in Maryland accepted my ID proof over the phone and helped me.
I've never in my life been subjected to such grilling and arbitrary nastiness. I could tell she liked it. She actually giggled on the phone just before I hung up.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4865 |
| Year Established | 1900 |
| Employees | 1164 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.01% |
| Return on Equity - YTD | -0.07% |
| Annual Interest Income | $198.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $13.28B$8.39B |
| Loans | Q2 2020vs Q2 2019 | $10.25B$6.55B |
| Deposits | Q2 2020vs Q2 2019 | $10.12B$6.41B |
| Equity Capital | Q2 2020vs Q2 2019 | $1.53B$1.12B |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $163.5MM$54.0MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $72.2MM$43.6MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $1.4MM$1.5MM |
