The Bank Slate


Sandy Spring sells insurance business to Hub

Sandy Spring Bancorp in Olney, Md., has sold it insurance business to Hub International. 

The $12.7 billion-asset company said in press release Thursday that the transaction closed on June 1. The pricing wasn’t disclosed. 

“Our clients will now have access to an expanded offering of insurance solutions through Hub,” Lou Caceres, an executive vice president of Sandy Spring Bank, said in the release. 

“All of the Sandy Spring Insurance … employees have been offered positions with Hub, and they will continue to provide outstanding service to their clients as they always have,” Caceres added. “I want to thank each of these employees for their contributions to Sandy Spring Bank and all of the communities that we serve.” 

Reagan Consulting and Kilpatrick Townsend & Stockton advised Sandy Spring.

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