Atlantic Union Bankshares Corp. acquires Sandy Spring Bancorp in a $1.6B all-stock deal, forming the largest lower Mid-Atlantic regional bank.

Atlantic Union Bankshares Corp. is acquiring Sandy Spring Bancorp in a $1.6 billion all-stock transaction, forming the largest regional bank in the lower Mid-Atlantic. The merger will expand its footprint in Northern Virginia and Maryland, adding 53 branches and increasing total assets to $39.2 billion. The deal, reflecting a trend in bank consolidation, is expected to close by the end of Q3 2025, pending approvals.

October 21, 2024
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