Sandy Spring Bank

#5168

Rank

$1.26B

Marketcap

United States

Country

Leadership team

Mr. Daniel J. Schrider (Vice Chairman, Pres & CEO)

Mr. Ramiro Louis Caceres (Exec. VP & Chief Wealth Officer)

Mr. Philip J. Mantua CPA, CPA (Exec. VP & CFO)

Products/ Services

Banking, Financial Services

Number of Employees

1,000 - 20,000

Headquarters

Olney, Maryland, United States

Established

1868

Company Registration

SEC CIK number: 0000824410

Net Income

100M - 500M

Revenue

500M - 1B

Traded as

SASR

Social Media

URL

https://www.sandyspringbank.com

Overview

Location

Recognition and Award

References

Summary

Sandy Spring Bancorp, Inc. operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products. Its loan products include commercial real estate loans, commercial construction loans, and other commercial loans; residential real estate loans; and consumer loans comprising home equity loans and lines, installment loans, and personal lines of credit. The Insurance segment provides general insurance agency services and annuities, such as commercial, personal, and medical liability lines. The Investment Management segment offers investment management and financial planning, including cash flow analysis, investment review, tax and retirement planning, insurance analysis, and estate planning to individuals, families, small businesses, and associations. It also provides personal trust and wealth management services. The company operates a network of approximately 50 locations in Maryland, Northern Virginia, and Washington D.C. Sandy Spring Bancorp, Inc. was founded in 1868 and is headquartered in Olney, Maryland.

History

In 1868, farmers who were Quakers founded Sandy Spring Bank to pool their savings to make home loans to their neighbors.In December 2001, the company acquired Chesapeake Insurance Group of Annapolis and renamed it Sandy Spring Insurance Corp.In February 2007, the bank acquired Potomac Bank of Virginia for $64.7 million.In June 2007, the bank acquired County National Bank of Glen Burnie for $44.1 million.During the financial crisis of 2007–2008, the company received an investment of $82 million from the Troubled Asset Relief Program. The investment was repaid in December 2010, making Sandy Spring one of the first community banks in the Washington metropolitan area to repay its TARP investment.In January 2009, Daniel J. Schrider was promoted to chief executive officer, succeeding Hunter R. Hollar. Schrider joined the company as a lender in 1989.In May 2012, the bank acquired CommerceFirst Bank of Annapolis for $25.4 million.In February 2016, the bank opened its first branch in the District of Columbia.In August 2016, Sandy Spring Insurance acquired The Advantage Group.In January 2018, the bank acquired WashingtonFirst Bank for $489 million, creating the largest community bank headquartered in the Washington metropolitan area.

Mission

Our mission is to build relationships with and serve our customers with exceptional financial service and financial products.

Vision

Our vision is to be the trusted, independent leader in banking and financial services, creating a great financial experience for our customers.

Key Team

Mr. Joseph J. O'Brien Jr. (Exec. VP & Chief Banking Officer of Sandy Spring Bank)

Mr. Kenneth C. Cook (Exec. VP & Pres of Commercial Banking - Sandy Spring Bank)

Ms. Ronda M. McDowell (Exec. VP & COO of Sandy Spring Bank)

Mr. Aaron Michael Kaslow (Chief Admin. Officer, Exec. VP, Gen. Counsel & Sec.)

Ms. Janet VA Replogle (VP & Ass't Corp. Sec.)

Mr. Gary John Fernandes (Exec. VP & Chief HR Officer)

Mr. John D. Sadowski (Chief Information Officer & EVP - Sandy Spring Bank)

Recognition and Awards

For five consecutive years, S&P Global Market Intelligence named Sandy Spring Bank the #1 Small Business Banking Leader in America. In 2016, American Banker magazine recognized Sandy Spring Bank as the top performing Midsize Community Bank in America in terms of return on assets.