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 127th largest bank in the nation. It was established in 1900 and as of March of 2024, it had grown to 1,095 employees at 55 locations. Sandy Spring Bank's CD rates are 5X the national average, and it boasts an A+ health rating.

Reviews (5)


Posted by: |

Not truthful or consistent in communications.


At all locations I visited, the tellers and employees are very friendly within the short time i opened my account. More important to me is the protection of my funds. My issue is with their Master Card and fraud protection. Recently I was the victim of credit card fraud with Sandy Springs. When I called regarding a transaction that was flagged for less than $200, the experienced teller started telling me about recent transactions that in total was several thousand dollars that occurred within four consecutive days that was approved without ANY fraud alert then a transaction of less than $200 was flagged. The the teller told me to call the number on the back of my card to request a new card. The problem with this advise is that, there is NO telephone number on the back. When I checked my credit union and Bank of America Visa cards a number was listed on the back of both of them. How can you call to report ANY LOST/STOLEN cards to their MC services 24/7? I had to go to the bank sign Affidavit to get funds returned. The bank manager at this branch couldn't explain why the FRAUD ALERT notification system DIDN'T work to protect my account. Almost a month later there is NO follow-up of their investigation. I had to get my funds returned by multiple emails and calls to the company that the Senior Teller mentioned several thousand dollars of items were purchased within two consecutive days. After about THREE weeks the company returned my funds. I NEVER heard ANYTHING from Sandy Springs during this time and even now ONE month later. I understand this can occur, but NO follow-up, no idea of why thousands of dollars over FOUR consecutive days and NO fraud alert until second transaction of less than $200 is flagged and the previous one of around $200 was approved the same day. THE ONLY thing I received was an email about their Customer Service which I DIDN'T complete because previously when I completed and even sent email to VP of Customer Service I NEVER received ANY reply. I have told multiple friends and they will tell others, this is purpose of writing this review. Over 150 years of being in business and one would've thought they would get something as important as this right!!

Addendum: After closing my account 5 weeks later. Corporate Security calls me and Sandy Spring is literally blowing up my phone because they issued me wrong amount on check. Wow! I haven't used their online services in almost 2 months. I went in just to make sure a recent check had cleared before closing my account. You see when it's THEIR money, it is URGENT, but when it's your money they let the same money go over FOUR days and on the FIFTH transaction for less than $200 flag it for fraud after several thousand dollars in transactions approved. The Corporate Security representative didn't even bother to return my call. That's "Excellent ," customer service.

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

They Are The Worst

Posted by: |

They will charge you overdraft fee when your account is with positive money. Them they don't know why they charging overdraft fee? The customer service is the worst they are not helpful at all. And online banking don't work on weekends so forget it to do something over the weekend because it is never accurate.


Health Grade Components

FDIC Certificate #4865
Year Established1900
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.65%
Return on Equity - YTD4.99%
Annual Interest Income$166MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$13.88B$14.13B
LoansQ1 2024vs Q1 2023$11.26B$11.29B
DepositsQ1 2024vs Q1 2023$11.35B$11.16B
Equity CapitalQ1 2024vs Q1 2023$1.83B$1.82B
Loan Loss AllowanceQ1 2024vs Q1 2023$123.1MM$117.6MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$83.1MM$41.7MM
Real Estate OwnedQ1 2024vs Q1 2023$2.7MM$645K
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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%$0-Regular Savings
0.25%$0-ESA Savings
0.25%$0-Business Savings
0.25%$0-IRA Savings
0.25%$0-Young Savers
0.10%$0-Escrow Management Interest Public Funds
0.10%$0-Escrow Management Interest
0.01%$0-Simple HSA

Sandy Spring Bank Money Market Rates

4.25%$0-Premier Money Market Savings - Rate During 6 Month Guarantee (New Money)
4.25%$0$10mBusiness Premier Money Market Savings - Rate During 6 Month Guarantee (New Money)
4.25%$0-Premier Money Market Savings IRA - Rate During 6 Month Guarantee (New Money)
3.50%*$250k*$10mPremier Money Market Savings (New Money)
OTHER TIERS: 1.35% $10k - $25k | 1.95% $25k - $50k | 2.55% $50k - $100k | 3.15% $100k - $250k
3.50%*$250k*$10mBusiness Premier Money Market Savings - New Money
OTHER TIERS: 1.35% $10k - $25k | 1.95% $25k - $50k | 2.55% $50k - $100k | 3.15% $100k - $250k
0.25%$0-Money Market Savings
0.25%$0-Business Money Market Savings

Sandy Spring Bank Checking Account Rates

3.58%$0-DC IOLTA Checking
3.03%$0-Maryland IOLTA Checking
3.03%$0-Virginia IOLTA Checking
3.03%$0-CRESPA Checking
0.20%$0-MAHT Checking
0.01%$0-Premier Banking
0.01%$0-Senior Interest Banking
0.01%$0-Business Interest Checking Account

Sandy Spring Bank CD Rates

5.00%$500-8 Month Promotional CD
5.00%$500-Business 8 Month Promotional CD
4.75%$2.5k$1m14 Month Promotional CD
4.75%$2.5k$1mBusiness 14 Month Promotional CD
4.75%$2.5k$10m7 Month Promotional CD
4.75%$2.5k$10mBusiness 7 Month Promotional CD
4.25%$1k-Business 12 - 17 Month CD
4.25%$1k-12 - 17 Month CD
4.25%$500$1m24 Month Promotional CD
4.25%$500$1mBusiness 24 Month Promotional CD
4.00%$1k-Business 18 - 23 Month CD
4.00%$1k-18 - 23 Month CD
4.00%$2.5k$1m35 Month Promotional CD
4.00%$2.5k$1mBusiness 35 Month Promotional CD
3.75%*$25k*-Business 13 Month No Penalty CD
OTHER TIERS: 3.25% $5k - $25k
3.75%*$25k*-13 Month No Penalty CD
OTHER TIERS: 3.25% $5k - $25k
3.50%$1k-30 - 35 Month CD
3.50%$1k-Business 6 - 11 Month CD
3.50%$1k-Business 24 - 29 Month CD
3.50%$1k-Business 30 - 35 Month CD
3.50%$1k-Business 36 - 47 Month CD
3.50%$1k-Business 48 - 59 Month CD
3.50%$1k-Business 60 Month CD
3.50%$1k-6 - 11 Month CD
3.50%$1k-24 - 29 Month CD
3.50%$1k-36 - 47 Month CD
3.50%$1k-48 - 59 Month CD
3.50%$1k-60 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

5.00%$500-8 Month Promotional IRA
4.75%$2.5k-14 Month Promotional IRA
4.75%$2.5k-7 Month Promotional IRA
4.25%$1k-12 - 17 Month IRA
4.25%$500-24 Month Promotional IRA
4.00%$1k-18 - 23 Month IRA
4.00%$2.5k-35 Month Promotional IRA
3.75%*$25k*-13 Month No Penalty IRA
OTHER TIERS: 3.25% $5k - $25k
3.50%$1k-6 - 11 Month IRA
3.50%$1k-24 - 29 Month IRA
3.50%$1k-36 - 47 Month IRA
3.50%$1k-48 - 59 Month IRA
3.50%$1k-60 Month IRA
3.50%$1k-30 - 35 Month IRA
0.25%$10k-90 Day IRA
0.15%$10k-60 Day IRA
0.10%$10k-30 Day IRA


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