Atlantic Union Bankshares Corporation and Sandy Spring Bancorp, Inc. have announced the receipt of regulatory approvals from the Federal Reserve Bank of Richmond to complete their merger in an all-stock transaction. Atlantic Union Bankshares Corporation has 129 branches and 148 ATMs located throughout Virginia and in portions of Maryland and North Carolina as of December 31, 2024. Sandy Spring Bancorp, Inc., on the other hand, has over 50 locations and offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Virginia, and Washington, D.C.
The special meetings of Atlantic Union’s shareholders and Sandy Spring’s stockholders are scheduled to be held on Wednesday, February 5, 2025, and the mergers remain subject to the approval of the Virginia Bureau of Financial Institutions, the Maryland Office of Financial Regulation, the shareholders of Atlantic Union, and the stockholders of Sandy Spring, as well as other customary closing conditions. Following these announcements, the company's shares moved 1.4%, and are now trading at a price of $36.2. For more information, read the company's full 8-K submission here.
