In Brief: Wachovia Closes Jefferson Deal in Va.

Wachovia Corp. said Monday it completed its merger with Jefferson Bankshares in Charlottesville, Va.

In addition, Wachovia expects to complete its merger with Central Fidelity Banks Inc. in Richmond, Va., by mid-December. Central Fidelity shareholders are to vote on the deal Nov. 21.

Jefferson's and Central Fidelity's principal banking subsidiaries, Jefferson National Bank and Central Fidelity National Bank, respectively, will continue to operate as separate banks until March 20, 1998, when their mergers and integration with Wachovia Bank are expected to be completed.

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