Fed approves Sandy Spring Bancorp merger with WashingtonFirst Bankshares

Sandy Spring Bancorp

22/11/2017 17:18

WASHINGTON, Nov 22 (Reuters) - The Federal Reserve Wednesday 
approved a merger between Sandy Spring Bancorp Inc SASR.O  and 
WashingtonFirst Bankshares Inc WFBI.O . 
    The deal allows Sandy Spring to indirectly acquire 
WashingtonFirst's subsidiary bank, WashingtonFirst Bank, as well 
as acquire its nonbank subsidiary, 1st Portfolio, Inc. 
    The Fed also approved an application that would allow Sandy 
Spring Bank to merge with WashingtonFirst Bank, permitting it to 
establish and operate branches at existing WashingtonFirst Bank 
offices. 
 
 (Reporting by Pete Schroeder 
Editing by Chizu Nomiyama) 
 ((Pete.Schroeder@thomsonreuters.com; 202-310-5485;)) 
 
Keywords: USA FED/SANDYSPRING