# Sandy Spring Bank > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Sandy_Spring_Bank > Markdown URL: https://mediated.wiki/source/Sandy_Spring_Bank.md > Source: https://en.wikipedia.org/wiki/Sandy_Spring_Bank > Source revision: 1349275600 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) **Sandy Spring Bancorp, Inc.** was a [bank holding company](/source/Bank_holding_company) headquartered in [Olney, Maryland](/source/Olney,_Maryland) and operating in the [Washington metropolitan area](/source/Washington_metropolitan_area). In addition to banking services, the company offered commercial and personal lines of insurance, [surety bonds](/source/Surety_bond), [workers compensation insurance](/source/Workers_compensation), and [professional liability insurance](/source/Professional_liability_insurance) protection as well as [financial planning](/source/Financial_planner), [wealth management](/source/Wealth_management), and [asset management](/source/Asset_management) for high-net-worth individuals, businesses, and associations. In April 2025, the company was acquired by [Atlantic Union Bank](/source/Atlantic_Union_Bank). ## History In 1868, farmers who were [Quakers](/source/Quakers) founded Sandy Spring Bank to pool their savings to make home loans to their neighbors.[1] In December 1993, the bank acquired First Montgomery Bank.[2] In August 1996, the bank acquired Annapolis Bancshares for $17 million.[3] In December 2001, the company acquired Chesapeake Insurance Group of Annapolis and renamed it Sandy Spring Insurance Corp.[4] In February 2007, the bank acquired Potomac Bank of Virginia for $64.7 million.[5][6] In June 2007, the bank acquired County National Bank of Glen Burnie for $44.1 million.[7] During the [2008 financial crisis](/source/2008_financial_crisis), the company received an investment of $82 million from the [Troubled Asset Relief Program](/source/Troubled_Asset_Relief_Program). The investment was repaid in December 2010, making Sandy Spring one of the first [community banks](/source/Community_bank) in the [Washington metropolitan area](/source/Washington_metropolitan_area) to repay its TARP investment.[8] In January 2009, Daniel J. Schrider was promoted to [chief executive officer](/source/Chief_executive_officer), succeeding Hunter R. Hollar. Schrider joined the company as a lender in 1989.[9] In May 2012, the bank acquired CommerceFirst Bank of Annapolis for $25.4 million.[10][11] In February 2016, the bank opened its first branch in the [District of Columbia](/source/District_of_Columbia).[12][13] In August 2016, Sandy Spring Insurance acquired The Advantage Group.[14] In January 2018, the bank acquired WashingtonFirst Bankshares for $489 million, creating the largest community bank headquartered in the [Washington metropolitan area](/source/Washington_metropolitan_area).[15][16] In April 2020, the bank acquired Revere Bank of Maryland for $293 million.[17] In April 2025 [Atlantic Union Bank](/source/Atlantic_Union_Bank) acquired the company.[18][19] ## References 1. ["Charting Sandy Spring Bank's History, Identity and Future"](https://www.washingtonpost.com/wp-dyn/content/article/2009/01/11/AR2009011102184.html). *[The Washington Post](/source/The_Washington_Post)*. January 12, 2009. 1. ["Atlantic Union buying Sandy Spring Bank for $1.6B"](https://www.bizjournals.com/washington/news/2024/10/21/sandy-spring-atlantic-union-bank-merger.html). *[American City Business Journals](/source/American_City_Business_Journals)*. October 21, 2024. 1. ["F&M NATIONAL PLANS TO ACQUIRE MD. BANK FOR $29 MILLION"](https://www.washingtonpost.com/archive/business/1996/04/23/fm-national-plans-to-acquire-md-bank-for-29-million/52fe3a25-c072-4875-89ff-8bd57db0d661/). *[The Washington Post](/source/The_Washington_Post)*. April 23, 1996. 1. Berk, Michele (December 7, 2001). ["Sandy Spring closes deal with Chesapeake Insurance"](https://www.bizjournals.com/baltimore/stories/2001/12/03/daily37.html). *[American City Business Journals](/source/American_City_Business_Journals)* 1. ["Sandy Spring Bancorp Completes Acquisition of Potomac Bank of Virginia"](http://www.snl.com/irweblinkx/Mobile/file.aspx?IID=100651&FID=3436731). [PR Newswire](/source/PR_Newswire). February 16, 2007.[dead link] 1. Adler, Neil (October 11, 2006). ["Sandy Spring Bancorp to buy Potomac Bank for $64.7M"](https://www.bizjournals.com/baltimore/stories/2006/10/09/daily18.html). *[American City Business Journals](/source/American_City_Business_Journals)* 1. Adler, Neil (December 14, 2006). ["Sandy Spring Bank to buy County National for $44.1M"](https://www.bizjournals.com/baltimore/stories/2006/12/11/daily27.html). *[American City Business Journals](/source/American_City_Business_Journals)* 1. Douglas, Danielle (December 19, 2010). ["Sandy Spring Bank in Olney pays back all of its federal TARP loan"](https://www.washingtonpost.com/wp-dyn/content/article/2010/12/19/AR2010121903125.html). *[The Washington Post](/source/The_Washington_Post)* 1. Lazo, Alejandro (January 6, 2009). ["Sandy Spring Bancorp Names New Chief Executive"](https://www.washingtonpost.com/wp-dyn/content/article/2009/01/05/AR2009010503007.html). *[The Washington Post](/source/The_Washington_Post)* 1. ["Sandy Spring Bancorp, Inc. Announces Completion of Acquisition of CommerceFirst Bancorp, Inc."](https://globenewswire.com/news-release/2012/05/31/478077/257634/en/Sandy-Spring-Bancorp-Inc-Announces-Completion-of-Acquisition-of-CommerceFirst-Bancorp-Inc.html). [Globe Newswire](/source/Globe_Newswire). May 31, 2012. 1. Haber, Gary (December 20, 2011). ["Sandy Spring Bank to buy CommerceFirst in $25.4M deal"](https://www.bizjournals.com/baltimore/news/2011/12/20/sandy-spring-bank-to-buy-commercefirst.html). *[American City Business Journals](/source/American_City_Business_Journals)* 1. ["Sandy Spring Bank's First Washington, D.C., Branch Opens for Business"](https://globenewswire.com/news-release/2016/02/01/806485/0/en/Sandy-Spring-Bank-s-First-Washington-D-C-Branch-Opens-for-Business.html). [Globe Newswire](/source/Globe_Newswire). February 1, 2016. 1. Bhattarai, Abha (November 15, 2015). ["The region's banks flock to a new market: The District"](https://www.washingtonpost.com/news/capital-business/wp/2015/11/15/the-regions-banks-move-into-an-unlikely-market-the-district/). *[The Washington Post](/source/The_Washington_Post)* 1. ["Sandy Spring Insurance Expands Team, Capabilities and Geographic Reach"](https://www.globenewswire.com/news-release/2016/08/04/861754/0/en/Sandy-Spring-Insurance-Expands-Team-Capabilities-and-Geographic-Reach.html). [Globe Newswire](/source/Globe_Newswire). August 4, 2016. 1. ["Sandy Spring Bancorp, Inc. Completes Acquisition of WashingtonFirst Bankshares, Inc."](https://www.globenewswire.com/news-release/2018/01/02/1276934/0/en/Sandy-Spring-Bancorp-Inc-Completes-Acquisition-of-WashingtonFirst-Bankshares-Inc.html). [Globe Newswire](/source/Globe_Newswire). January 2, 2018. 1. Medici, Andy (January 3, 2018). ["Sandy Spring wraps up $447M acquisition of WashingtonFirst Bank"](https://www.bizjournals.com/washington/news/2018/01/03/sandy-spring-wraps-up-447m-acquisition-of.html). *[American City Business Journals](/source/American_City_Business_Journals)* 1. ["Sandy Spring Bancorp Completes Acquisition of Revere Bank"](https://www.globenewswire.com/news-release/2020/04/01/2009873/0/en/Sandy-Spring-Bancorp-Completes-Acquisition-of-Revere-Bank.html). [Globe Newswire](/source/Globe_Newswire). April 1, 2020. 1. ["Atlantic Union Bankshares Corporation Completes Acquisition of Sandy Spring Bancorp, Inc."](https://investors.atlanticunionbank.com/news-events/press-releases/detail/195/atlantic-union-bankshares-corporation-completes-acquisition). [Atlantic Union Bank](/source/Atlantic_Union_Bank). April 1, 2025. 1. Basil, Arasu Kannagi (October 21, 2024). ["Atlantic Union to buy Sandy Spring for $1.6 bln in latest US regional bank deal"](https://www.reuters.com/business/finance/atlantic-union-bankshares-buy-sandy-spring-bancorp-16-bln-deal-2024-10-21/). *[Reuters](/source/Reuters)* --- Adapted from the Wikipedia article [Sandy Spring Bank](https://en.wikipedia.org/wiki/Sandy_Spring_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Sandy_Spring_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.