Sandy Spring Bank Named the Fifth Best Bank in the Country in S&P Global Market Intelligence’s Annual Rankings

Rhea-AI Summary

Sandy Spring Bank has been recognized as the fifth top-performing bank in S&P Global Market Intelligence’s annual rankings for institutions with over $10 billion in assets. The bank, now valued at nearly $13 billion, reported record annual earnings of $235.1 million for 2021, with total loans of $10 billion and deposits of $10.6 billion. This accolade follows its inclusion in Forbes' 2022 America's Best Banks list, highlighting the bank's commitment to excellence and service in the Greater Washington, D.C. area.

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• Ranked fifth in S&P Global Market Intelligence's annual rankings.
• Achieved record annual earnings of $235.1 million in 2021.
• Total loans reached $10 billion and deposits totaled $10.6 billion.
• Recognized as one of Forbes' 2022 America's Best Banks.

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• None.

Sandy Spring Bank Earns Top Ranking for Financial Performance

OLNEY, Md., March 22, 2022 (GLOBE NEWSWIRE) -- Sandy Spring Bank was ranked fifth in S&P Global Market Intelligence’s annual rankings for top-performing banks and credit unions. Sandy Spring Bank was among the top 50 banks with more than $10 billion in assets trading on major exchanges.

“Sandy Spring Bank became a more than $10 billion company just two years ago, so we are honored to already be at the top of our class,” said Daniel J. Schrider, President and CEO of Sandy Spring Bank. “For over 150 years we have prioritized delivering personal service to each of our clients, investing in strategic and sustainable growth, and serving our local communities. I am proud of our employees for their hard work. This recognition demonstrates that as a nearly $13 billion institution, we can bank clients of all sizes and compete on a national stage.”

S&P Global Market Intelligence launched the rankings more than a decade ago to assess the performance of community banks and credit unions. The division ranks institutions based on returns, growth and efficiency but places a premium on the strength and risk profile of balance sheets.

In 2021, Sandy Spring Bancorp reported record annual earnings of $235.1 million, $10 billion in total loans, $10.6 billion in deposits, and $2.2 billion in market capitalization. Across the Company’s wealth group, which includes Rembert Pendleton Jackson, Sandy Spring Trust and West Financial Services, assets under management exceeded $6 billion.

The recognition today comes weeks after Sandy Spring Bank was also recognized as a top five bank by Forbes on its 2022 America’s Best Banks list.

About Sandy Spring Bancorp, Inc.
Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 50 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services.

For more information, contact Sam Price at sprice@sandyspringbank.com or 301.260.3614.

FAQ

What position did Sandy Spring Bank achieve in the S&P Global rankings?

Sandy Spring Bank was ranked fifth in S&P Global Market Intelligence's annual rankings.

What was Sandy Spring Bank's record annual earnings for 2021?

Sandy Spring Bank reported record annual earnings of $235.1 million for 2021.

What are Sandy Spring Bank's total loans and deposits as of 2021?

As of 2021, Sandy Spring Bank had total loans of $10 billion and deposits of $10.6 billion.

Did Sandy Spring Bank receive recognition from Forbes?

Yes, Sandy Spring Bank was recognized as a top five bank by Forbes on its 2022 America's Best Banks list.

What is the current market capitalization of Sandy Spring Bank?

Sandy Spring Bank has a market capitalization of approximately $2.2 billion.