Sandy Spring Bancorp Acquisition of WashingtonFirst Bankshares to Create Region’s Largest, Locally-Headquartered Community Bank
OLNEY, Md., May 16, 2017 -- Sandy Spring Bancorp, Inc. (Nasdaq:SASR) (“Sandy Spring”), the parent company of Sandy Spring Bank, and WashingtonFirst Bankshares, Inc. (Nasdaq:WFBI) (”WashingtonFirst”), the parent company of WashingtonFirst Bank, jointly announced today they have entered into a definitive agreement for Sandy Spring to acquire the Virginia-based WashingtonFirst to create one of the premier banks in the Greater Washington, D.C. region.
With combined assets of approximately $7.5 billion, the acquisition creates the largest, locally-headquartered community bank and brings together two well-known financial services brands that focus on providing remarkable client experiences, building lasting relationships and helping people and businesses reach their financial goals.
- Published: 16 May 2017
- Written by Editor