In Brief: Wachovia Wraps Up Central Fidelity Buyout

Wachovia Corp. said Tuesday it had completed its merger with Central Fidelity Banks Inc. in Richmond, Va.

Central Fidelity National Bank will continue to operate as a separate entity until March 20, when its integration with Wachovia Bank is expected to be completed, subject to regulatory approvals.

With the completion of its mergers with Central Fidelity, Jefferson Bankshares of Charlottesville, Va., and 1st United Bancorp of Boca Raton, Fla., Wachovia ranks as the 18th-largest bank holding company in the country, with assets exceeding $60 billion.