THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, February 4, 1995 TAG: 9502040363
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 22 lines
TideMark Bancorp Inc. shareholders approved Crestar Financial Corp.'s bid to buy the Newport News-based thrift-holding company. About 78 percent of TideMark's shareholders voted in favor of the merger at the company's annual meeting. Under the $38 million agreement announced in September, Crestar will pay TideMark shareholders $5.50 in cash or Crestar stock for each TideMark share owned. The deal, expected to be completed by March 24, could cost two-thirds of TideMark's 120 employees their jobs, said Gordon Gentry Jr., chairman of the Tidemark board. (AP) by CNB