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Atlantic Union Acquires Sandy Spring Bank to Form Largest Regional Bank in Mid-Atlantic

Oct 21, 2024•over 1 year ago

Contract Type

partnership

Glen AllenFinancial ServicesFinanceLendingBanking

Description

Atlantic Union and Sandy Spring Bank 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. The combined company will create the largest regional bank headquartered in the lower Mid-Atlantic, significantly enhancing the presence in Northern Virginia and Maryland.

Company Information

Company

Atlantic Union Bankshares

Location

Glen Allen, Virginia, United States

About

Atlantic Union Bank, a Top Workplace 2024, has been a trusted banking partner for our customers and local businesses since 1902. And, although we’ve grown over the years to become the largest regional bank headquartered in Virginia—offering financial strength, industry-specific expertise, sophisticated digital capabilities, and entrepreneurial innovation—we haven’t lost touch with our customer-centric approach to making banking easier and our commitment to bettering the communities in which we all live and work.

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Strategic

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months