Atlantic Union Bankshares to acquire Sandy Spring Bancorp for $1.6bn.

Atlantic Union Bankshares, the holding company for Atlantic Union Bank, agreed to acquire Sandy Spring Bancorp, a bank holding company headquartered in Olney, Maryland, for $1.6bn. "At our 2018 investor day, I noted that part of our long-term vision was to complete the ‘Golden Crescent’ from Baltimore, through Washington D.C. and Richmond to Hampton Roads and recreate a banking franchise that had not existed since the 1990s. With today’s announcement of our partnership with Sandy Spring, Atlantic Union will create a preeminent regional bank, with Virginia as its linchpin, that spans the lower mid-Atlantic into the Southeast and that is committed to the communities it serves," John C. Asbury, Atlantic Union President and CEO.