logo
Share SHARE
FONT-SIZE Plus   Neg

Sandy Spring Gets Final Regulatory Approval For CommerceFirst Acquisition

Sandy Spring Bancorp, Inc. (SASR) said Wednesday that it has received final regulatory approvals for its acquisition of CommerceFirst Bancorp, Inc (CMFB), the bank holding company of CommerceFirst Bank.

The transaction is expected to close in the second quarter of 2012, subject to approval of CommerceFirst shareholders and satisfaction of customary closing conditions.

As per the agreement announced on December 20, 2011, Sandy Spring was to acquire all shares of CommerceFirst common stock in a stock and cash deal valued at about $25.4 million at that time.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT