$27.950
+0.355 (+1.27%)Zum Schluss
SASR-News
SASR-Events
Shore Bancshares appoints Charles Cullum as EVP, CFO
Shore Bancshares (SHBI) announced the appointment of Charles Cullum as EVP and CFO of the company and the bank, effective as of April 21.Todd Capitani, who previously notified the company and the bank of his intent to retire as EVP and CFO will remain with the company and the bank through August 15 and will work closely with Cullum during the transition period. Cullum most recently served as CFO at Sandy Spring Bancorp (SASR) since May 2024.
Atlantic Union Bankshares, Sandy Spring Bancorp get approval to complete merger
The company states: "Atlantic Union Bankshares (AUB) and Sandy Spring Bancorp (SASR) jointly announced the receipt of regulatory approvals from the Federal Reserve Bank of Richmond, acting on delegated authority from the Board of Governors of the Federal Reserve System, to complete the previously announced merger of Sandy Spring with and into Atlantic Union in an all-stock transaction. Immediately following such merger, Sandy Spring Bank, Sandy Spring's wholly owned subsidiary bank, will merge with and into Atlantic Union Bank, Atlantic Union's wholly owned subsidiary bank."
Sandy Spring Bancorp reports Q3 core EPS 40c, consensus 46c
"We have a solid capital position and are seeing ongoing success with our core deposit strategies and our wealth management lines of business," said Daniel Schrider, Chair, President & CEO of Sandy Spring Bank. "Our wealth teams - Sandy Spring Trust, and our subsidiaries, West Financial and RPJ - have an expanding number of referrals from current clients and work closely with business owners from early growth through maturity. The success of our wealth teams' approach is reflected in our strong fee income results." The net interest margin was 2.44% for the third quarter of 2024 compared to 2.46% for the second quarter of 2024 and 2.55% for the third quarter of 2023. During the current quarter, the net interest margin was negatively impacted by a reversal of previously accrued uncollected interest income on a single large AD&C loan placed on a non-accrual status. Compared to the linked quarter, the rate paid on interest-bearing liabilities increased seven basis points, while the yield on interest-earning assets increased three basis points.
Atlantic Union Bankshares to acquire Sandy Spring Bancorp for $1.6B
Atlantic Union Bankshares (AUB) and Sandy Spring Bancorp (SASR) jointly announced today that they have entered into a definitive merger agreement for Atlantic Union to acquire Sandy Spring in an all-stock transaction valued at approximately $1.6B. Combining the two organizations will create the largest regional bank headquartered in the lower Mid-Atlantic, and significantly enhance the combined company's presence in Northern Virginia and Maryland. Under the terms of the merger agreement, each outstanding share of Sandy Spring common stock will be converted into the right to receive 0.900 shares of Atlantic Union common stock. This values the transaction at approximately $34.93 per Sandy Spring common share, based on Atlantic Union's closing stock price on October 18, 2024. Three members of the Sandy Spring board of directors, including Dan Schrider, will join the Atlantic Union board of directors upon the closing of the transaction. The merger agreement has been unanimously approved by the board of directors of each company. The companies expect to complete the transaction by the end of the third quarter of 2025, subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by Atlantic Union shareholders and Sandy Spring stockholders.
Diese Seite dient nur der Recherche und ist keine Anlageberatung. Modelle können falsch liegen. Vergangene Wertentwicklung ist kein Indikator für die Zukunft.