Crestar Financial Corp. said it had completed its purchase of American National Bancorp.

American National is the holding company for American National Savings Bank, a Baltimore-based thrift with $505 million of assets, $330 million of deposits, and five branches.

Under terms of the agreement, American National shareholders received 0.426 of a Crestar share or $20.25 in cash per American National share, in a tax-free exchange.

The deal was valued at $73 million.

Completion of the acquisition brought the number of Crestar branches in Maryland to 40, including 35 in the Baltimore area.

Crestar Financial is the holding company for Crestar Bank, with $23.2 billion of assets and 481 branches in Virginia, Maryland, and the District of Columbia.

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