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Sandy Spring gets final approval for CommerceFirst deal

Olney-based Sandy Spring Bancorp said Wednesday that it had received final regulatory approvals of its acquisition of CommerceFirst Bancorp in Annapolis.

The stock-and-cash deal — which is valued at $25.4 million and still requires the approval of CommerceFirst shareholders — is expected to close in the second quarter.

For Sandy Spring, the acquisition adds CommerceFirst's $205 million in total assets, $181 million in gross loans and $180 million in total deposits. It also expands Sandy Spring's footprint in Anne Arundel, Howard and Prince George's counties, where CommerceFirst Bank operates five branches.

Hanah.cho@baltsun.com

Copyright © 2015, The Baltimore Sun
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