Crestar Financial Corp. sold $87.8 million in common stock this week, raising cash to buy more failed thrifts.

The sale came amid reports that Richmond, Va.-based Crestar was among the bidders for troubled First American Bankshares, Washington.

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.