ACQUISITION OF WASHINGTONFIRST BANKSHARES INC (Tables)

3 Months Ended

Mar. 31, 2018

Acqusition of WashingtonFirst Bankshares Inc. [Abstract]

Provisional fair values of acquired identifiable assets and liabilities assumed

(In thousands)				January 1, 2018
Purchase Price:
	Fair value of common shares issued (11,446,197 shares),		$	446,640
	based on Sandy Spring's share price of $39.02
	Cash for fractional shares			10
		Total purchase price	$	446,650
Identifiable assets:
	Cash and cash equivalents		$	32,497
	Residential mortgage loans held for sale			25,789
	Investment securities			302,321
	Loans			1,683,683
	Premises and equipment			4,602
	Other Real Estate Owned			497
	Accrued Interest Receivable			6,648
	Other Intangible assets			11,370
	Other Assets			33,764
		Total identifiable assets	$	2,101,171
Identifiable liabilities:
	Deposits		$	1,610,327
	Borrowings			283,808
	Other Liabilities			17,525
		Total identifiable liabilities	$	1,911,660
Provisional fair value of net assets acquired including identifiable intangible assets				189,511
Provisional resulting goodwill			$	257,139