Exhibit 12.1

Sandy Spring Bancorp, Inc.

Computation of Consolidated Ratio of Earnings to

Fixed Charges

(Dollars in thousands)

Our historical ratios of earnings to fixed charges for the periods indicated are set forth in the table below. The ratio of earnings to fixed charges is computed by dividing (1) income from continuing operations before income taxes and fixed charges by (2) total fixed charges. For purposes of computing these ratios:

 • earnings consist of income before income taxes plus fixed charges,

 • fixed charges, excluding interest on deposits, include interest expense (other than on deposits) and the estimated portion of rental expenses attributable to interest,

 • fixed charges, including interest on deposits, include all interest expense and the estimated portion of rental expense attributable to interest.

	Nine
	Months
	Ended
	September		Year Ended December 31,
(In thousands, except ratio)	30, 2017		2016		2015		2014		2013		2012
Earnings:
Income before taxes	$	67,735	$	71,990	$	67,382	$	55,782	$	66,985	$	54,599
Fixed charges		20,774		23,416		22,455		21,279		21,816		24,737
Earnings, including interest on deposits		88,509		95,406		89,837		77,061		88,801		79,336
Less: interest on deposits		9,212		8,161		5,878		4,791		5,439		7,357
Earnings, excluding interest on deposits		79,297		87,245		83,959		72,270		83,362		71,979
Fixed charges:
Interest on deposits	$	9,212	$	8,161	$	5,878	$	4,791	$	5,439	$	7,357
Interest on borrowings		9,635		12,843		14,235		14,027		13,994		15,294
Rental expense deemed to be interest		1,927		2,412		2,342		2,461		2,383		2,086
Fixed charges, including interest on deposits		20,774		23,416		22,455		21,279		21,816		24,737
Less: interest on deposits		9,212		8,161		5,878		4,791		5,439		7,357
Fixed charges, excluding interest on deposits		11,562		15,255		16,577		16,488		16,377		17,380
Ratio of earnings to fixed charges:
Excluding interest on deposits		6.86		5.72		5.06		4.38		5.09		4.14
Including interest on deposits		4.26		4.07		4.00		3.62		4.07		3.21