To our customers –
I want to thank you for the opportunity to serve as your bank and to make sure you saw the exciting news we announced on Monday, October 21.
Our parent company, Atlantic Union Bankshares Corporation, has entered into a merger agreement to acquire Sandy Spring Bancorp (“Sandy Spring”). Headquartered in Olney, Maryland, Sandy Spring is a 100+ year bank that operates in Maryland, D.C. and Northern Virginia.
Once merged, the combined organization will continue to operate under the Atlantic Union Bank brand name. Following the merger, we will have 182 branches across Virginia, North Carolina and Maryland. This will create a powerful franchise that’s well positioned to serve the evolving personal and business product, service and technology needs of our customers.
This merger will allow us to serve our communities even better. We also announced a $9.5 billion Community Impact Plan to help strengthen economic growth and financial access throughout our new footprint.
While we will be expanding our network as the largest regional bank headquartered in Virginia, some things will never change – like our commitment to our customers, the communities we serve and our goal of delivering a best-in-class customer experience.
We expect to close the transaction in the third quarter of 2025, subject to customary closing conditions, including receipt of regulatory approvals. For now, it is business as usual, and you should continue to do your banking as you normally would at any Atlantic Union Bank branch, with your relationship manager or wealth advisor or through online and mobile banking.
It is important to note that, following the merger, the combined company will continue to use our operating systems, so there should be little to no impact to our existing customers’ accounts. We will let you know when you can begin taking advantage of our expanded footprint.
As various milestones are reached, we’ll keep you informed on our website or through email. If you have any questions in the meantime, please feel free to call our Customer Care Center at 800.990.4828, visit any of our branches or reach us at MergerQuestions@AtlanticUnionBank.com.
We look forward to serving your financial needs today and tomorrow. Thank you for banking with Atlantic Union Bank.
John C. Asbury
Chief Executive Officer
Atlantic Union Bankshares Corporation
Frequently Asked Questions
What was announced and what does it mean for Atlantic Union Bank?
On October 21, 2024, we announced that Atlantic Union Bankshares Corporation and Sandy Spring Bancorp have entered into a merger agreement, under which Sandy Spring Bank will merge into Atlantic Union Bank.
Why is Atlantic Union Bank acquiring Sandy Spring Bank?
Atlantic Union Bank and Sandy Spring Bank share a commitment to our customers and communities. Sandy Spring Bank has a robust network of branches throughout Maryland, DC and Northern Virginia. After the merger, this larger network of branches will allow us to serve customers throughout the lower mid-Atlantic region from Maryland down into North Carolina with the commitment to customer service that people expect from Atlantic Union Bank.
Who is Sandy Spring Bank? How big are they? Where are they based?
Sandy Spring has operated for more than 100+ years and is the leading statewide regional bank in Maryland with approximately $14.4 billion in consolidated assets. Sandy Spring is Headquartered in Olney, MD and operates 53 branches and six financial centers in Maryland, Virginia and Washington, D.C.
What is the timing of the merger?
Subject to customary closing conditions, including receipt of regulatory and shareholder approvals, we expect the transaction to close in the third quarter of 2025.
Will Atlantic Union Bank’s name or headquarters location change?
No, following the merger, the combined organization will operate under the Atlantic Union Bank brand name, and we will remain headquartered in Richmond, Virginia.
How does this affect my Atlantic Union Bank accounts?
There should be no changes to your Atlantic Union Bank accounts as a result of the merger.
Will any Sandy Spring or Atlantic Union Bank branches be closed as a result of the merger?
We will evaluate the branch footprint, but no decisions about branch closures have been made at this time. We do expect to open 3 branches in low to moderate income census tracts as part of our Community Impact Plan that was announced as part of the merger.
Can I begin using either bank?
Not yet, you should continue to do your banking as you normally would at Atlantic Union Bank. We will let you know when you can begin taking advantage of our expanded footprint.
How will the combined bank continue to serve the community?
This merger will provide benefits to the communities we serve. As part of the merger announcement, we’ve also announced a 5-year $9.5 billion Community Impact Plan to help strengthen economic grow and expand financial access. That includes money committed to originate residential lending and spur economic mobility as well as community development lending, as well as grants and investments. Both Sandy Spring Bank and Atlantic Union Bank have been great partners to their local communities for over a hundred years, and that commitment to our customers and to each other will only be strengthened with this merger.
I have a question that isn’t answered here -- how can I get an answer?
Atlantic Union Bank customers can reach us at MergerQuestions@AtlanticUnionBank.com
Sandy Spring Bank customers can call their client service center at 800.399.5919.
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