How Atlantic Union Snagged Sandy Spring

Sandy Spring Bancorp in Maryland had talks with several regional banks before determining that the best deal would involve selling to Atlantic Union Bankshares.

Hello, Bank Slaters!

Here is one final email before we head into Thanksgiving. A quick note that we will not publish our Arrivals | Departures list this year in observance of the holiday.

Next week, we will have our weekly newsletter, which will feature a Q&A with Era Jain, CEO of AI-focused startup Zeplyn, which recently raised $3 million in funding.

Today, we’re sharing the background of Atlantic Union Bankshares’ pending purchase of Sandy Spring Bancorp. Several things are interesting here — Sandy Spring held talks with a large regional bank as far back as 2021 about selling before things fell through. It reinforces that these deals can take quite some time to come to fruition.

Another bank briefly expressed interest but surprisingly ghosted Sandy Spring CEO Daniel Schrider in July.

Here is our overview of the transaction.