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Deal Overview

Sandy Spring Bancorp, Inc.
Actual Acquirer:
Sandy Spring National Bank
First Montgomery Bank of Maryland
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 1.9
Common Stock Issued 45,625

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 74.5 131.0
Price / Tangible Book (%) 74.5 131.0
Price / Earnings (x) NM NM
Price / Deposits (%) 5.56 5.57
Price / Assets (%) 5.15 5.33
Tangible Book Premium/ Deposits (%) (2.02) 1.38
Deal Terms
Description of Consideration

First Montgomery Bank shareholders received .17857 shares of Sandy Spring Bancorporation. A price of $42 was used in the valuation of the consideration.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 0.178600
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Stradley Ronon Stevens & Young
Seller Yes Saul Ewing LLP