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ACQUISITION OF REVERE BANK (Tables)
 9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Provisional fair values of acquired identifiable assets and liabilities assumed
The consideration paid for Revere’s common equity and outstanding stock options and the provisional fair values of acquired identifiable assets and assumed identifiable liabilities as of the Acquisition Date were as follows:
 
(Dollars in thousands, except per share data)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 options3,611 
Cash paid for cashed-out Revere stock options291 
Cash for fractional shares11 
Total purchase price$293,002 
 
Identifiable assets:
Cash and cash equivalents$80,768 
Investments available-for-sale180,752 
Loans2,502,244 
Premises and equipment3,443 
Accrued interest receivable7,651 
Core deposit intangible asset18,360 
Other assets52,812 
Total identifiable assets$2,846,030 
 
Identifiable liabilities:
Deposits$2,322,422 
Borrowings205,514 
Other liabilities25,933 
Total identifiable liabilities$2,553,869 
 
Provisional fair value of net assets acquired including identifiable intangible assets292,161 
Provisional resulting goodwill$841