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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • West Financial Services, Inc.
  • Sandy Spring Bancorp, Inc.
  • Wealth Management Firms
  • July 19, 2005
  • $550 Million

Seller Details

West Financial Services, Inc. is a registered investment advisory firm located in McLean, Virginia. The firm specializes in comprehensive financial planning and investment management services for high net worth individuals and families, corporations, small businesses and associations. The company was founded in 1982 and at the time of the sale, West Financial managed $550 million in assets under management.

Buyer Details

With $2.3 billion in assets, Sandy Spring Bancorp is the holding company for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance Company and The Equipment Leasing Company. Sandy Spring Bancorp is the third largest publicly traded banking company headquartered in Maryland. It is a community banking organization that focuses its lending and other services on businesses and consumers in the local market area. Independent and community-oriented, Sandy Spring Bank was founded in 1868 and offers a broad range of commercial banking, retail banking and trust services through 31 community offices in six Maryland counties.

Transaction Summary

This transaction allows Sandy Spring Bancorp to expand the depth of its investment management expertise and expand the types of solutions it can offer its clients. West Financial Services, Inc. will continue to operate under its name and Ronald L. West, President and Founder, will continue to lead the company as Chief Executive Officer.

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