Joseph S. Bracewell
OLNEY, Md., Dec. 14, 2017 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced today that it has appointed four new directors to its board. The appointments are in connection with Sandy Spring’s acquisition of WashingtonFirst Bankshares, Inc. and the related merger of WashingtonFirst Bank into Sandy Spring Bank. Upon completion of the acquisition, WashingtonFirst Chairman Joseph S. Bracewell, WashingtonFirst CEO Shaza L. Andersen, and WashingtonFirst directors Mr. Mark C. Michael and the Honorable Joe R. Reeder will join the Sandy Spring board.
Also effective upon the closing of the transaction, expected January 1, 2018, Sandy Spring director Susan D. Goff will retire from the board after 23 years of dedicated service.
“Shaza Andersen and Joe Bracewell have grown an impressive organization, and I look forward to working with them and all of our new directors as we continue to build on that momentum as the largest, locally-headquartered community bank in this region,” said Daniel J Schrider, President and CEO of Sandy Spring Bank.
Mr. Reeder, Shareholder in the international law firm Greenberg Traurig, LLP, served as a director of WashingtonFirst Bank since 2004; he was 14th Under Secretary of the Army and chairman of the Panama Canal Commission (1993-1997). Mr. Michael is the co-founder and CEO of Occasions Caterers, Inc. and the co-founder and President of Protocol Staffing Services, LLC, and Menus Catering, Inc.; he joined the WashingtonFirst board in 2005.
Upon completion of the acquisition, Sandy Spring Bank will have combined assets of approximately $7.5 billion.
About Sandy Spring Bancorp, Inc.
Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank. Independent and community-oriented, 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. Through its subsidiaries, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services. With $5.3 billion in assets, Sandy Spring Bank operates 42 community offices and six financial centers across the region. Visit www.sandyspringbank.com for more information.
About WashingtonFirst Bankshares, Inc.
WashingtonFirst Bankshares, Inc., headquartered in Reston, Virginia, is the holding company for WashingtonFirst Bank, a Virginia-charted bank with more than $2 billion in assets, which operates 19 full-service banking offices throughout the Washington, D.C. metropolitan area. In addition, WashingtonFirst provides wealth management services through its subsidiary, 1st Portfolio Wealth Advisors, and mortgage banking services through WashingtonFirst Bank's subsidiary, WashingtonFirst Mortgage Corporation. For more information about WashingtonFirst, please visit: www.wfbi.com.
