**Atlantic Union Bankshares Corporation Receives Federal Reserve Approval for Merger with Sandy Spring Bancorp**

Sandy Spring Bancorp, Inc. recently announced on January 13, 2025, that the Federal Reserve Bank of Richmond has given approval for the merger between Atlantic Union Bankshares Corporation and Sandy Spring Bancorp, Inc. The merger, as part of the Agreement and Plan of Merger established on October 21, 2024, entails a holding company merger between Atlantic Union and Sandy Spring. Following this, Sandy Spring Bank, which is a wholly owned subsidiary of Sandy Spring, will merge with Atlantic Union Bank, a wholly owned subsidiary of Atlantic Union. The merger, subject to approvals from various regulatory bodies including the Virginia Bureau of Financial Institutions, the Maryland Office of Financial Regulation, shareholders of Atlantic Union, and stockholders of Sandy Spring, along with other standard closing conditions, has now received the essential Federal Reserve approval.

In a joint press release issued by Atlantic Union and Sandy Spring on the same day, the companies shared that they have received approval for the merger and highlighted that the special meetings of Atlantic Union’s shareholders and Sandy Spring’s stockholders are scheduled for February 5, 2025. The completion of the mergers hinges on the remaining approvals and meeting the necessary conditions. Following the merger, the combined entity expects to reap strategic and financial benefits, with a keen focus on future performance metrics such as the accretion to earnings per share and the tangible book value earn-back period.

The securities, regulatory, and shareholder approvals are pivotal in securing the further steps of the mergers, ensuring a smooth transition. Both Atlantic Union and Sandy Spring expressed their firm belief in the proposed transactions while acknowledging the risks and uncertainties associated with such strategic moves.

The intricacies of the mergers, including the potential challenges in integration, changes in market conditions, and the financial implications, reflect the efforts and considerations both companies will be navigating in the upcoming period.

Investors, shareholders, and stakeholders are encouraged to closely monitor and evaluate the developments, especially as Atlantic Union and Sandy Spring progress towards the upcoming special meetings and other key milestones. Additional details on the transaction are available in the official filings and disclosures made by the companies to the Securities and Exchange Commission (SEC). Investors are advised to seek further information from the SEC regarding these developments before making any voting or investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sandy Spring Bancorp’s 8K filing here.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.