THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Tuesday, November 1, 1994 TAG: 9411010292
SECTION: BUSINESS PAGE: D01 EDITION: FINAL
SOURCE: From staff reports
LENGTH: Short : 21 lines
Crestar Financial Corp. and TideMark Bancorp. Inc. finalized their agreement that Crestar would acquire TideMark, the Newport News-based holding company of TideMark Bank. Under the terms of the final agreement, TideMark shareholders will be paid $5.50 per share or a tax-free exchange of TideMark common stock for Crestar common stock. TideMark shareholders and regulators still must approve the deal, which is expected to be completed early in 1995. Crestar Financial Corp. has assets of $14.3 billion and is the holding company for three banks with 332 offices in Virginia, Maryland and Washington, D.C. by CNB