THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Saturday, February 10, 1996 TAG: 9602100307
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Briefs
LENGTH: Short : 35 lines
Crestar to buy more bank branches in Maryland
Crestar Financial Corp., which expanded its banking presence in Maryland in late 1995 by buying a large Baltimore-based thrift, said Friday it agreed to buy 10 branches in two Maryland counties outside Washington from Mellon Bank. Crestar, the Richmond-based parent of Crestar Bank, said the planned acquisition will include $220 million of deposits and 17,400 customer households. Crestar said it expected to complete the transaction during the second quarter. (Staff) Correction
CENIT Bancorp Inc. reported a profit of $322,000 for the three months ended Dec. 31. The headline on an article in Friday's Business News section suggested that the Norfolk-based holding company suffered a loss for the recent quarter.
Also, Resource Bank's results for 1994 were wrongly reported as its 1995 results. The Virginia Beach community bank said it earned $261,480 for the fourth quarter of 1995, compared with $168,238 in the Dec. 31 quarter of 1995. Per-share earnings were 31 cents, up from 20 cents. For all of 1995, Resource reported net income of $904,603, compared with $650,732 in 1994. Per-share earnings for the year were $1.07, up from 77 cents in 1994. by CNB