An announcement from Atlantic Union Bankshares ( (AUB) ) is now available.
Atlantic Union Bankshares Corporation has announced a definitive merger agreement to acquire Sandy Spring Bancorp in an all-stock transaction valued at approximately $1.6 billion. This merger will create the largest regional bank headquartered in the lower Mid-Atlantic, enhancing its presence in Northern Virginia and Maryland. Sandy Spring’s assets and deposits will significantly bolster Atlantic Union’s financial strength, with the combined entity boasting pro forma total assets of $39.2 billion. The merger, expected to close by the third quarter of 2025, will also see three Sandy Spring board members joining Atlantic Union’s board.
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