Sandy Spring Bancorp Acquired by Atlantic Union Bankshares

Sandy Spring Bancorp ( (SASR) ) has provided an update.

Atlantic Union Bankshares Corporation is set to acquire Sandy Spring Bancorp in a $1.6 billion all-stock deal, creating the largest regional bank in the lower Mid-Atlantic. This merger will significantly boost Atlantic Union’s presence in Northern Virginia and Maryland, adding 53 branch locations and increasing its wealth management assets by over $6.5 billion. The agreement, unanimously approved by both companies’ boards, aims for completion by the third quarter of 2025, pending customary regulatory approvals.

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