Blog Exposure – Sandy Spring Bancorp Received All Regulatory Approvals from Federal Reserve System for Acquisition of WashingtonFirst Bankshares

Stock Monitor: WashingtonFirst
Bankshares Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 27, 2017 / Active-Investors issued a free report on Sandy
Spring Bancorp, Inc. (NASDAQ: SASR), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=SASR as the Company’s latest news hit the wire. On November
22, 2017, Sandy Spring Bancorp declared that the Board of Governors of the
Federal Reserve System, the Maryland Office of the Commissioner of Financial
Regulation, and the Virginia State Corporation Commission granted all requisite
regulatory approvals to the Company to complete the acquisition of
WashingtonFirst Bankshares, Inc. (NASDAQ: WFBI), and the related merger of
WashingtonFirst Bank into Sandy Spring Bank. The transaction is expected to
close on January 01, 2018. Sign up now
for our free research reports at: www.active-investors.com/registration-sg.

Active-Investors.com is focused on giving you timely
information and the inside line on companies that matter to you. This morning, Sandy
Spring Bancorp most recent news is on our radar
and we have decided to include it on our blog post. Today’s free coverage for
SASR and WFBI are available at:

www.active-investors.com/registration-sg/?symbol=SASR

www.active-investors.com/registration-sg/?symbol=WFBI

Together Both Companies Will
be a Stronger Presence in Greater Washington, D.C. Region

Commenting on the approval, Daniel J. Schrider, President
and CEO of Sandy Spring Bank, stated that the Company looks forward to
welcoming the clients, employees, and shareholders of WashingtonFirst Bank to
Sandy Spring Bank. Daniel added that together, both companies will be a
stronger presence in the Greater Washington, D.C. region, and will continue to
invest in and build communities for future generations.

Acquisition Agreement
Announced in May 2017

On May 16, 2017, Sandy Spring Bancorp entered into a
definitive agreement for Sandy Spring Bank to acquire the Virginia-based
WashingtonFirst to create one of the premier banks in the Greater Washington,
D.C. region. The transaction was unanimously approved by the Board of Directors
of each company and was subject to shareholder and regulatory approval and
other customary closing conditions.

Upon completion of the transaction, Sandy Spring and
WashingtonFirst will have combined assets of approximately $7.5 billion.
WashingtonFirst’s shareholders are expected to receive 0.8713 shares of Sandy
Spring’s common stock for each share owned of WashingtonFirst’s common stock.
Sandy Spring’s shareholders would own around 67.8% of the combined company and
WashingtonFirst’s shareholders would own approximately 32.2% of the combined
company. WashingtonFirst’s Chairman, Joseph Searcy Bracewell, President and
CEO, Shaza L. Andersen, and two other directors would join Sandy Spring’s Board.

Both Companies Received
Stockholders’ Approvals in October

On October 18, 2017, Sandy Spring Bancorp and
WashingtonFirst Bankshares had received the requisite stockholders’ approvals
for Sandy Spring to acquire WashingtonFirst.

Financial Advisors

The Kafafian Group, Inc. served as financial advisor and
Sandler O’Neill & Partners, L.P. provided a fairness opinion to Sandy
Spring.

About Sandy Spring Bancorp, Inc.

Founded in
1868 and headquartered in Olney, Maryland, Sandy
Spring Bancorp is the holding company for Sandy Spring Bank. Sandy Spring Bank offers a broad range of commercial banking, retail
banking, mortgage and trust services throughout central Maryland, Northern
Virginia, and the greater Washington, D.C. market.

About WashingtonFirst Bankshares, Inc.

Established
in 2004, WashingtonFirst Bankshares, Inc. operates as the holding company for
WashingtonFirst Bank that provides commercial banking products and services to
small-to-medium sized businesses, not-for-profit organizations, professional
service firms, and individuals in Washington, D.C. metropolitan area. The
Company is headquartered in Reston, Virginia.

Stock Performance Snapshot

November
24, 2017 – At Friday’s closing bell, Sandy Spring Bancorp’s
stock marginally declined 0.62%, ending the trading session at $38.57.

Volume traded for the
day: 27.39 thousand shares.

Stock performance in the
last twelve-month period – up 5.41%

After last Friday’s
close, Sandy Spring Bancorp’s market cap was at $931.08 million.

Price to Earnings (P/E)
ratio was at 16.02.

The stock has a dividend
yield of 2.70%.

The stock is part of the Financial
sector, categorized under the Regional – Mid-Atlantic Banks industry. This
sector was up 0.1% at the end of the session.

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