Atlantic Union Bankshares in Richmond, Virginia, has agreed to buy Sandy Spring Bancorp in Olney, Maryland. The $27.5 billion-asset Atlantic Union said in a news release that it will pay $1.6 billion in stock for the $14.4 billion-asset Sandy Spring. The deal is expected to close in the third quarter of next year.
First Commerce Bancorp in Lewisburg, Tennessee, has agreed to buy Peoples Bank of Middle Tennessee in Shelbyville. The holding company for the $653 million-asset First Commerce Bank expects to complete its purchase of the $185 million-asset Peoples Bank in the first quarter. The price wasn’t disclosed.
First Liberty National Bancshares in Liberty, Texas, has agreed to buy Coastal Bancshares in Pearland, Texas. The parent of the $501 million-asset First Liberty Bank will exchange an undisclosed amount of stock for Coastal, which is the holding company of the $192 million-asset Pearland State Bank and the $154 million-asset First National Bank of Alvin.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
