ACQUISITION OF REVERE BANK (Tables)

6 Months Ended

Jun. 30, 2020

Acquisition of Revere bank [Abstract]

Provisional fair values of acquired identifiable assets and liabilities assumed

(In thousands)			April 1, 2020
Purchase price:
Fair value of common shares issued (12,768,949 shares) based on Sandy Spring's share price of $22.64		$	289,089
Fair value of Revere stock options converted to Sandy Spring stock options			3,611
Cash paid for cashed-out Revere stock options			291
Cash for fractional shares			11
	Total purchase price	$	293,002
Identifiable assets:
Cash and cash equivalents		$	80,768
Investments available-for-sale			180,752
Loans			2,502,244
Premises and equipment			3,443
Accrued interest receivable			7,651
Core deposit intangible asset			18,360
Other assets			52,812
	Total identifiable assets	$	2,846,030
Identifiable liabilities:
Deposits		$	2,322,422
Borrowings			205,514
Other liabilities			25,931
	Total identifiable liabilities	$	2,553,867
Provisional fair value of net assets acquired including identifiable intangible assets			292,163
Provisional resulting goodwill		$	839