After breathtaking action during 1995, bank consolidation activity quieted by comparison in the Middle Atlantic region last year.

The largest merger of the year involved Crestar Financial Corp., Richmond, Va., which solidified its franchise in the suburban Washington area by acquiring Citizens Bancorp of Maryland for $774 million. Morgan Stanley & Co. advised Crestar; Keefe, Bruyette & Woods Inc., Citizens.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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