Sandy Spring Bank is headquartered in Olney and is the largest bank in the state of Maryland. It is also the 137th largest bank in the nation. It was established in 1900 and as of March of 2021, it had grown to 1,144 employees at 62 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.
DO NOT USE
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
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.
Data as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4865 |
| Year Established | 1900 |
| Employees | 1144 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.42% |
| Return on Equity - YTD | 19.24% |
| Annual Interest Income | $114.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $12.86B$8.92B |
| Loans | Q1 2021vs Q1 2020 | $10.40B$6.70B |
| Deposits | Q1 2021vs Q1 2020 | $10.74B$6.65B |
| Equity Capital | Q1 2021vs Q1 2020 | $1.63B$1.25B |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $130.4MM$85.8MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $92.8MM$46.2MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $1.4MM$1.4MM |
