Crestar Financial Corp., in its largest deal ever, said Monday that it has agreed to buy one of the last independent banks in the District of Columbia area for $774 million in stock.

The acquisition of Citizens Bancorp of Laurel, Md., which has $4.2 billion of assets and 103 branches, will boost Crestar's standing in metro Washington, D.C., to first place in deposits from third, and in Maryland overall to second place from sixth.

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