RICHMOND, Va. -- Signet Banking Corp. announced the completion of its merger. with Pioneer Financial Corp.

Under the agreement announced in February, Signet is exchanging 0.6232 common share for each Pioneer share.

The $11.2 billion-asset Signet will add 10 of Pioneer's 11 branches to its network, bringing total locations to 48 in the Richmond area and 250 overall. Signet is also retaining 68 of Pioneer's 143 employees.

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