Exhibit 12.1

Sandy Spring Bancorp, Inc.

Computation of Consolidated Ratio of Earnings to

Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)

	Nine Months Ended September 30,		Year Ended December 31,
	2008		2007		2006		2005		2004		2003
Interest Expense on Deposits	$	32,930	$	59,916	$	39,334	$	21,482	$	13,059	$	13,675
All Other Interest Expense		14,583		18,128		20,867		13,860		22,957		24,858
Total Fixed Charges		47,513		78,044		60,201		35,342		36,016		38,533
Income Before Taxes		26,798		45,233		45,760		45,293		12,688		41,545
Add: Fixed Charges		47,513		78,044		60,201		35,342		36,016		38,533
Income before taxes and fixed charges		74,311		123,277		105,961		80,635		48,704		80,078
Ratio of Earnings to Fixed Charges:
Excluding Interest on Deposits		2.84		3.50		3.19		4.27		1.55		2.67
Including Interest on Deposits		1.56		1.58		1.76		2.28		1.35		2.08