Sandy Spring Bancorp Completes Acquisition of Rembert Pendleton Jackson
February 03 2020 - 7:00AM
Sandy Spring Bancorp, Inc. (Nasdaq: SASR, “Sandy Spring”), the
parent company of Sandy Spring Bank, announced today that it
completed the acquisition of Rembert Pendleton Jackson (RPJ), a
financial planning and investment advisory firm located in Falls
Church, Virginia.
"The reputation, culture and long-tenured staff of Rembert
Pendleton Jackson complement our organization and expand the wealth
management services we can offer our clients," according to Lou
Caceres, Executive Vice President of Sandy Spring Bank.
RPJ will continue to operate under the
name, Rembert Pendleton Jackson, and Charles E. Rembert,
CFP®, AIF®, Principal, will lead the company as Chairman and
CEO, and will report to Caceres at Sandy Spring Bank.
“Like RPJ, Sandy Spring Bank has an impressive track record and
a long history of strong performance in the Greater Washington
region. This partnership is a win-win for our clients and
community,” said Rembert. “Our highest priority has been, and will
continue to be, to provide fee-only investment advisory and
financial planning services to our clients. This relationship will
allow these services to continue.”
RPJ was founded in 1974 and currently has more than $1.3 billion
in assets under management (AUM). The combined AUM under Sandy
Spring Bank’s wealth management arms is now approximately $4.5
billion. The transaction was first announced on November 6, 2019.
Sandy Spring was advised on the transaction by Raymond James |
Silver Lane Advisors.
About Sandy Spring Bancorp, Inc./Sandy Spring
Bank Sandy Spring Bancorp, Inc., headquartered in Olney,
Maryland, is the holding company for Sandy Spring Bank, a premier
community bank in the Greater Washington, D.C. region. With
over 50 locations, the bank offers a broad range
of commercial and retail
banking, mortgage, private banking,
and trust services throughout Maryland, Northern
Virginia, and Washington, D.C. Through its subsidiaries, Rembert
Pendleton Jackson, Sandy Spring Insurance
Corporation and West Financial Services, Inc., Sandy
Spring Bank also offers a comprehensive menu
of insurance and wealth management services.
Forward-looking Statements This
communication contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
with respect to the financial condition, results of operations,
plans, objectives, future performance and business of Sandy Spring
and RPJ. Forward-looking statements, which may be based upon
beliefs, expectations and assumptions of Sandy Spring’s and RPJ’s
management and on information currently available to management,
are generally identifiable by the use of words such as “believe,”
“expect,” “anticipate,” “plan,” “intend,” “outlook,” “estimate,”
“forecast,” “project,” “may,” “will,” “would,” “could,” “should” or
other similar words and expressions. These forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Forward-looking statements
speak only as of the date they are made, and Sandy Spring does not
undertake any obligation to update any statement in light of new
information or future events.
In addition to factors previously disclosed in Sandy Spring’s
reports filed with the U.S. Securities and Exchange Commission (the
“SEC”), the following factors among others, could cause actual
results to differ materially from those in its forward-looking
statements: (i) the possibility that any of the anticipated
benefits of the proposed transaction between Sandy Spring and RPJ
will not be realized or will not be realized within the expected
time period; (ii) the risk that integration of operations of RPJ
with those of Sandy Spring will be materially delayed or will be
more costly or difficult than expected; (iii) general economic
conditions and trends, either nationally or locally; (iv)
conditions in the securities markets; (v) changes in interest
rates; and (vi) changes in the demand for investment products and
other financial services.
Media Contact: Sam Price, Vice President Sandy
Spring Bank 301.260.3614 Sprice@sandyspringbank.com
Sandy Spring Bancorp (NASDAQ:SASR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sandy Spring Bancorp (NASDAQ:SASR)
Historical Stock Chart
From Apr 2023 to Apr 2024