Revere Bank: Sandy Spring closes $287M acquisition of Revere Bank

Sandy Spring Bancorp. Inc. closed its acquisition of Revere Bank on Tuesday, making it a $10 billion bank. The Olney-based parent of Sandy Spring Bank (NASDAQ: SASR) now has about $11.4 billion in assets. The total value of the deal is about $287 million, a 38% discount from $460.7 million when it was first announced in September. The transaction's value dropped as a result of a decline in Sandy Spring's stock price. Financial markets tanked in March as the COVID-19 pandemic swept across the U.S. Former...