Crestar Bank was a bank headquartered in Richmond, Virginia with branches in Virginia and in Maryland. In 1998, it was acquired by Suntrust Banks. At that time, it was the largest independent bank in Virginia.
Video Crestar Bank
History
The bank was originally chartered as State Planters Bank Of Commerce And Trusts on December 8, 1865 in Richmond.
In 1969, it was renamed United Virginia Bank/State Planters.
In 1971, it was renamed United Virginia Bankshares, Inc.
In 1987, it was renamed Crestar Financial Corporation.
In 1991, the bank acquired $527 million in deposits of Heritage Savings Bank for $2.35 million after it was seized by the Resolution Trust Corporation during the savings and loan crisis.
In 1992, the bank acquired Perpetual Savings Bank for $7.8 million after it was shut down by regulators.
In 1995, the bank acquired Loyola Federal Savings and Loan of Maryland for $251 million in stock. The bank also acquired 6 branches in Maryland from Chase Bank.
Jan 20 1995 Jefferson Savings & Loan, Corporate offices Warrenton, VA acquired by Crestor Financial Corp,
In 1996, the bank acquired Citizens Bank of Maryland.
In 1997, the bank sold its merchant transaction processing business to Nova Corp. The bank also purchased a portfolio of student loans from Great Western Bank (1919-97). The bank also became the largest independent bank in Virginia.
On December 31, 1998, the bank was acquired by SunTrust Banks.
Maps Crestar Bank
References
Source of article : Wikipedia
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