M&A Deal Summary

Sandy Spring Bank Acquires Revere Bank

On September 24, 2019, Sandy Spring Bank acquired financial services company Revere Bank for 461M USD

Acquisition Highlights
  • This is Sandy Spring Bank’s 5th transaction in the Financial Services sector.
  • This is Sandy Spring Bank’s largest (disclosed) transaction.
  • This is Sandy Spring Bank’s 5th transaction in the United States.
  • This is Sandy Spring Bank’s 3rd transaction in Maryland.

M&A Deal Summary

Date 2019-09-24
Target Revere Bank
Sector Financial Services
Buyer(s) Sandy Spring Bank
Deal Type Add-on Acquisition
Deal Value 461M USD
Advisor(s) Sandler O'Neill + Partners (Financial)
Windels Marx Lane & Mittendorf (Legal)

Target

Revere Bank

Rockville, Maryland, United States
Revere Bank is a Maryland-state chartered bank that has 11 branches located in the suburban Maryland counties of Anne Arundel, Baltimore, Frederick, Howard, Montgomery, and Prince George’s. The Bank is a community-based, full-service commercial bank that emphasizes the banking needs of community-based businesses, professional entities, and individuals.

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Buyer(S) 1

Buyer

Sandy Spring Bank

Olney, Maryland, United States

Category Company
Founded 1868
Sector Financial Services
Employees1,084
Revenue 419M USD (2023)
DESCRIPTION

Sandy Spring Bank is a provider of financial services to individuals and companies in US. Sandy Spring Bank was founded in 1868 and is based in Olney, Maryland.


DEAL STATS #
Overall 5 of 6
Sector (Financial Services) 5 of 6
Type (Add-on Acquisition) 5 of 6
State (Maryland) 3 of 3
Country (United States) 5 of 6
Year (2019) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-22 WashingtonFirst Bankshares

Reston, Virginia, United States

WashingtonFirst Bankshares, Inc. is a holding company for WashingtonFirst Bank which focuses on providing quality, tailored services to its customers, conducts a full service commercial banking operation through 15 offices, with nine located in Northern Virginia, three in Maryland and three in the District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-06 Rembert Pendleton Jackson

Falls Church, Virginia, United States

Rembert Pendleton Jackson serves more than 900 clients from around the nation's capital and over 35 states. Rembert Pendleton Jackson registered investment advisors manage more than $1.3 billion in assets with a mission to help individuals and families, foundations and institutions realize their financial goals.

Buy -