I know that you may have concerns or questions after recent news reports about the closing of two large banks that are now being overseen by regulators. I am writing to assure you of the health and safety of Sandy Spring Bank.
Unlike Silicon Valley Bank, we have a small securities portfolio for our size and a strong capital base. We are well-capitalized under regulatory standards and – most importantly – would remain so even in the unlikely event that we chose to liquidate the securities portfolio at today’s prices. We have a diverse portfolio, and we have no involvement in cryptocurrency.
Sandy Spring Bank is a strong and stable company. Founded in 1868, we are a solid performer, have excellent credit quality, and are well-positioned to serve this community for years to come. Our loan and deposit portfolios include the accounts of those who live and do business in our market area, and we have ample funding sources to meet our clients’ needs. We have deep and longstanding relationships with our clients and in our market; your success will always be our top priority.
If you have any further concerns or questions, please don’t hesitate to call your banker here at Sandy Spring Bank. As always, we look forward to the conversation, stand ready to assist you in any way, and appreciate your confidence in us.
Watch a message from Dan Schrider. »
Dan Schrider
Chair, President and Chief Executive Officer