ROANOKE TIMES
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, March 16, 1990                   TAG: 9003162080
SECTION: BUSINESS                    PAGE: A7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short


SIGNET, CRESTAR BUY BANKING OFFICES

Signet Bank will buy Independent Banks of Virginia based in Norfolk, paying $30 in cash for each of Independent's 769,630 shares.

Independent has seven offices and assets of $150 million. One branch is in McLean and the others are in Tidewater.

The purchase is expected to take place in about six months. Crestar Financial Corp. and Perpetual Savings Bank announced Thursday an agreement in which Crestar will buy a Perpetual retail banking office in Virginia Beach.

Both purchases are subject to approval by state and federal regulatory authorities. - Staff and wire reports



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