MD-based Sandy Spring Bancorp to be acquired by Atlantic Union Bankshares for $1.6B

Atlantic Union Bankshares Corporation and Olney-based Sandy Spring Bancorp Monday announced they have entered into a definitive merger agreement for Atlantic Union to acquire Sandy Spring in an all-stock transaction valued at approximately $1.6 billion. Combining the two organizations will create the largest regional bank headquartered in the lower mid-Atlantic, officials said, and significantly enhance the combined company’s presence in northern Virginia and Maryland.