Sandy Spring Bancorp, Inc. (SASR: Quote) said Wednesday that it has received final regulatory approvals for its acquisition of CommerceFirst Bancorp, Inc (CMFB: Quote), 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
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