Sandy Spring Bancorp to Acquire CommerceFirst Bancorp for $25.4M in Stock and Cash

Sandy Spring Bancorp, Inc. SASR and CommerceFirst Bancorp, Inc. CMFB today announced the execution of a definitive merger agreement for Sandy Spring to acquire CommerceFirst Bancorp and its wholly-owned subsidiary, CommerceFirst Bank, in a transaction currently valued at approximately $25.4 million in stock and cash. Sandy Spring's acquisition of CommerceFirst will add approximately $205 million in total assets, $181 million in gross loans, and $180 million in total deposits, before purchase accounting adjustments. The transaction will expand Sandy Spring's presence in Anne Arundel, Howard and Prince George's counties in central Maryland, where CommerceFirst Bank operates 5 full service branches.