First Virginia Banks Inc. agreed Tuesday to divest three branches with $44 million in deposits to resolve Justice Department objections to a merger with Premier Bankshares.

"These divestitures will preserve competition for loans and other banking services provided to individuals and small businesses," said acting Assistant Attorney General Joseph I. Klein in a written statement.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.