A Virginia banking company plans to acquire Maryland-based Sandy Spring Bancorp in a deal valued at about $1.6 billion, creating one of the MidAtlantic region’s largest banks and cementing

Atlantic Union Bankshares will buy smaller rival Sandy Spring Bancorp for $1.6 billion, they said on Monday, as the regional lender looks to bolster its presence in Northern Virginia and Maryland.

Richmond's biggest bank is about to get a lot bigger, with a deal that will create a $39 billion regional behemoth that spans the coveted "Golden Crescent."