Two New York-area thrifts were at a standoff Tuesday over whether to complete their $750 million merger deal.

T R Financial Corp. of Garden City told Roslyn Bancorp to increase its all-stock offer by 3.1% or lose the deal, which has already been approved by regulators and shareholders of both companies. T R's demand came one day after Roslyn chairman Joseph L. Mancino said that he would not pay more for T R.

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