A Regional Banking Chapter Closes as Atlantic Union Completes Sandy Spring Acquisition

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The independent story of Sandy Spring Bancorp has reached its conclusion. Following the finalization of its acquisition by Atlantic Union Bankshares Corporation last year, the institution has been delisted from the NASDAQ exchange. This regional consolidation marks another significant shift within the U.S. banking landscape.

Key Transaction Details:
* Target Company: Sandy Spring Bancorp
* Acquiring Entity: Atlantic Union Bankshares Corporation
* Deal Closure Date: April 1, 2025
* Transaction Type: All-stock
* Listing Status: Delisted from NASDAQ

Atlantic Union Bankshares Corporation has significantly bolstered its footprint in the Mid-Atlantic region through this merger. The combined entity now operates a network of more than 50 branch locations, strengthening its presence in core markets across Northern Virginia and Maryland.

The deal, initially announced in October 2024, formally closed on April 1, 2025, with an approximate total value of $1.3 billion. Under the terms of the all-stock agreement, Sandy Spring shareholders received 0.900 shares of Atlantic Union for each share they held. Any fractional shares were settled with a cash payment.

A primary strategic driver for the combination was the substantial expansion of wealth management capabilities. The merger added over $6.5 billion in assets under management to Atlantic Union's portfolio.

Regulatory Clearance and Operational Merger

Necessary regulatory approvals preceded the legal completion, including a key green light from the Federal Reserve Bank of Richmond in January 2025. With the legal merger finalized, Sandy Spring Bancorp ceased to exist as an independent, publicly traded company.

Operational integration of the subsidiary banks commenced immediately following the legal close. Sandy Spring Bank was fully absorbed into the continuing entity, Atlantic Union Bank.

This transaction continues a broader trend of consolidation among regional banks. While the Sandy Spring brand has disappeared from the ticker tape, Atlantic Union intends to leverage its increased scale and expanded branch network to broaden its service offerings from its Richmond, Virginia headquarters.