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.

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.


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.



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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