RICHMOND - Crestar Financial Corp. said it completed its acquisitions of Independent Bank, a Manassas-based commercial bank, and Jefferson Savings and Loan, a thrift institution headquartered in Warrenton.

The closing of the two transactions adds 10 branches to Crestar's 336 locations in Virginia, Washington, and Maryland.

About half of the employees of both institutions were laid off and two branches were closed as a result of the mergers, the bank said.

The addition of the Independent offices further solidifies the bank's first place market-share ranking in Prince William County.

The Jefferson merger gives Crestar its first operations in Warrenton, Culpeper, Front Royal, and Luray, and strengthens its market position in Charlottesville and Loudoun County.

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