ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, December 31, 1996 TAG: 9612310136
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: MEGAN SCHNABEL
The Texas Steak House & Saloon on Virginia 419 in Roanoke County is moving across the road this spring, taking the place of a Ground Round restaurant that closes today.
A spokesman for Texas Steak House & Saloon Inc. of Salem said the new restaurant will open by April 1. The chain began looking for a new site six months ago, he said, because its lease was expiring and the company wanted a free-standing building. The restaurant now is part of a strip shopping center.
The new restaurant, which will undergo extensive remodeling, is the same size as the former one, with seating for about 185.
The spokesman said all Ground Round employees will be offered jobs at Texas Steak House restaurants. The company operates 21 locations. Ground Round gift certificates also will be honored by Texas Steak House, he said.
Texas Steak House also said Monday it will open Hatteras Seafood Co. in the former Chi-Chi's restaurant at Valley View Mall on Jan. 29. The restaurant, which will serve fresh seafood, will seat 230 and employ 115.
- MEGAN SCHNABEL
Crestar acquires
Maryland bank
Crestar Financial Corp. acquired Citizens Bancorp of Laurel, Md., effective today. The merger increases Crestar's total assets 23 percent to $22.4 billion.
The acquisition, three months earlier than projected, was approved Monday at separate meetings by 72 percent of Crestar shareholders and 76 percent of Citizens shareholders. Citizens shareholders will receive 0.835 of a Crestar share for each Citizens share, and Citizens Bank will continue to operate under that name until March.
Alfred H. Smith Jr. and Jeffrey R. Springer, chairman and president respectively of Citizens, were elected to Crestar's board. Their selection brings the number of Crestar directors to 19.
- MAG POFF
Holiday schedules
U.S. stock and financial markets will be closed Wednesday for New Year's Day. Stock exchanges are scheduled for normal trading hours today, but bond trading closes at 2 p.m. and commodities exchanges are expected to complete trading by noon to 1:10 p.m.
The Roanoke Times will publish stock and commodities tables as usual Wednesday, and on Thursday will publish a special year-end summary of stocks and mutual funds in The Daily Market Report.
Scheduled market holidays for 1997 include: Feb. 17, President's Day; March 28, Good Friday; May 26, Memorial Day; July 4, Independence Day; Sept. 1, Labor Day; Nov. 27, Thanksgiving; and Dec. 25, Christmas.
LENGTH: Medium: 57 lines KEYWORDS: JOBCHEKby CNB