Sandy Spring Bank (merged into Atlantic Union Bank)
Sandy Spring Bank reported total assets of $13.8 bn at Q1 2025, its last Call Report before it merged into Atlantic Union Bank. The CET1 capital ratio at Sandy Spring Bank was 13.96%, and the uninsured share of Sandy Spring Bank was 37.61%. Source: FDIC Call Reports.
Key takeaways
- Since , Sandy Spring Bank has taken over 2 institutions; the latest was Revere Bank on (FDIC Call Reports).
What sets Sandy Spring Bank apart
How large is Sandy Spring Bank?
The balance sheet of Sandy Spring Bank at : assets $13.8 bn, deposits $11.3 bn, net loans $11.3 bn (loans equal to 100.21% of deposits). Securities make up 9.5% of total assets at Sandy Spring Bank. Since , when Sandy Spring Bank held $4.7 bn, its assets grew 192.2%. In the year to , deposits at Sandy Spring Bank fell 0.3% while its total assets fell 0.9%. At , Sandy Spring Bank employed 1,103 full-time equivalent staff across 54 offices, about $12.5 mn of assets per employee and $209.7 mn of deposits per office.
How much funding at Sandy Spring Bank is uninsured?
At Sandy Spring Bank, uninsured deposits (above the FDIC limit) made up 37.61% of domestic deposits at (+4.63 pp on a year earlier). In dollars, Sandy Spring Bank estimated $4.3 bn of uninsured deposits.
Key facts, Q1 2025
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $11.3 bn | $11.4 bn (Q1 2024) | |
| Net loans and leases | $11.3 bn | $11.3 bn (Q1 2024) | |
| Loan-to-deposit ratio | 100.21% | 99.17% (Q1 2024) | |
| Tier 1 leverage ratio | 11.63% | 11.35% (Q1 2024) | |
| Total risk-based capital ratio | 14.94% | 13.96% (Q1 2024) | |
| Net interest margin | 2.78% | 2.52% (Q1 2024) | |
| Return on assets (ROA) | 0.06% | 0.65% (Q1 2024) | |
| Efficiency ratio | 80.23% | 65.25% (Q1 2024) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $34.1 mn | Narrowed by $4.5 mn | |
| Unrealized gain/loss on available-for-sale securities | Loss of $100.2 mn | Narrowed by $25.6 mn | |
| Noncurrent loans to total loans | 1.00% | 0.74% (Q1 2024) | |
| Net charge-offs to average loans | 1.19% | 0.04% (Q1 2024) |
US rank of Sandy Spring Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Sandy Spring Bank: assets, deposits and loans
- Total assets $13.8bn
- Deposits $11.3bn
- Net loans $11.3bn
Capital and securities
The CET1 ratio of Sandy Spring Bank stood at 13.96% in , +0.95 pp year on year. Low and high at Sandy Spring Bank since : 10.37% () to 13.96% (). Equity capital of Sandy Spring Bank at : $1.8 bn, or 13.4% of total assets. Sandy Spring Bank also reported a total capital ratio of 14.94% for , and a tier 1 leverage ratio of 11.63%.
On held-to-maturity securities, Sandy Spring Bank carried an unrealized loss of $34.1 mn at , equal to 1.8% of equity capital. The loss narrowed by $4.5 mn over the year. Its deepest point: $47.1 mn in . The available-for-sale portfolio of Sandy Spring Bank showed an unrealized loss of $100.2 mn at ; the loss narrowed by $25.6 mn over the year.
Sandy Spring Bank: capital ratios
- Total capital 15%
- CET1 14%
- Tier 1 leverage 12%
Sandy Spring Bank: unrealized securities gains and losses
- Available for sale -$100mn
- Held to maturity -$34mn
Profitability and loan quality
For the year to , Sandy Spring Bank earned a return on equity of 0.46%; return on assets: 0.06%. Net interest margin at Sandy Spring Bank: 2.78%, +0.26 pp in a year. Sandy Spring Bank net income: $2.1 mn, down 90.9% year on year. The efficiency ratio of Sandy Spring Bank was 80.23%: about 80 cents cost per revenue dollar, against 61 cents at the median peer.
At , noncurrent loans were 1.00% of total loans at Sandy Spring Bank; net charge-offs: 1.19% of average loans. Gross loans and leases at Sandy Spring Bank: $11.5 bn at , against $11.4 bn at .
Sandy Spring Bank: profitability
- Return on equity 0.5%
- Net interest margin 2.8%
- Return on assets 0.1%
Peer group of Sandy Spring Bank
The peer group of Sandy Spring Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Sandy Spring Bank (state member bank) and 0 have head offices in Maryland. Against them, Sandy Spring Bank shows CET1 ratio 13.96% against a peer median of 13.82%, return on equity 0.46% against a peer median of 7.89% and uninsured deposit share 37.61% against a peer median of 43.22%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| First Financial Bank | State member bank | TX | $14.3 bn | 17.79% | 15.28% | 45.85% | |
| Dime Commercial Bank | State member bank | NY | $14.1 bn | 14.00% | 6.41% | 50.88% | |
| NexBank | State nonmember bank | TX | $13.9 bn | 15.40% | 13.75% | 16.86% | |
| Sandy Spring Bank | State member bank | MD | $13.8 bn | 13.96% | 0.46% | 37.61% | |
| NBT Bank | National bank | NY | $13.8 bn | 11.89% | 9.20% | 40.59% | |
| Israel Discount Bank of New York | State nonmember bank | NY | $13.6 bn | 13.63% | 6.58% | 47.27% | |
| Live Oak Banking Company | State nonmember bank | NC | $13.5 bn | 10.64% | 5.35% | 15.04% | |
. FDIC Call Reports.
Last eight quarters
Two years at Sandy Spring Bank, to : assets $14.0 bn to $13.8 bn, deposits $11.0 bn to $11.3 bn, equity $1.8 bn to $1.8 bn. Staff 1,106 to 1,103; offices 56 to 54.
| Metric | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $14.0 bn | $14.1 bn | $14.0 bn | $13.9 bn | $14.0 bn | $14.4 bn | $14.1 bn | $13.8 bn |
| Total deposits | $11.0 bn | $11.2 bn | $11.1 bn | $11.4 bn | $11.5 bn | $11.9 bn | $11.8 bn | $11.3 bn |
| Bank equity capital | $1.8 bn | $1.8 bn | $1.8 bn | $1.8 bn | $1.8 bn | $1.9 bn | $1.8 bn | $1.8 bn |
| CET1 ratio | 13.00% | 13.19% | 12.95% | 13.01% | 13.38% | 13.42% | 13.70% | 13.96% |
| Return on equity (ROE) | 9.18% | 7.85% | 7.46% | 4.99% | 5.25% | 4.82% | 1.66% | 0.46% |
| Uninsured share of domestic deposits | 33.32% | 33.21% | 33.96% | 32.99% | 36.06% | 36.96% | 36.79% | 37.61% |
| Full-time equivalent employees | 1,106 | 1,094 | 1,098 | 1,095 | 1,122 | 1,149 | 1,136 | 1,103 |
| Number of offices | 56 | 56 | 55 | 55 | 55 | 55 | 55 | 54 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Sandy Spring Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed WashingtonFirst Bank (FDIC certificate 57696).
- . Absorbed Revere Bank (FDIC certificate 58640).
- . Merged into Atlantic Union Bank (FDIC certificate 34589).
Large one-quarter moves at Sandy Spring Bank
- Total assets at Sandy Spring Bank changed by +45.0% in the quarter to 2018-03-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from WashingtonFirst Bank.
- Total assets at Sandy Spring Bank changed by +48.9% in the quarter to 2020-06-30: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Revere Bank.
Questions and identifiers
What were the total assets of Sandy Spring Bank?
Sandy Spring Bank reported $13.8 bn at in its Call Report.
Is Sandy Spring Bank the same as its holding company?
No. This page covers Sandy Spring Bank, FDIC certificate 4865; SANDY SPRING BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Sandy Spring Bank profitable?
Sandy Spring Bank reported net income of $2.1 mn for the year to ; annualized return on equity: 0.46%. So yes: Sandy Spring Bank made a profit over these months.
When is data for Sandy Spring Bank next updated?
Sandy Spring Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Sandy Spring Bank?
In the FDIC BankFind Suite record for certificate 4865, and in the Call Reports of Sandy Spring Bank (RSSD ID 506922) at the FFIEC Central Data Repository.