Citizens Bank of Maryland was a bank headquartered in Laurel, Maryland. In 1997, it was acquired by Crestar Bank, which was in turn acquired by SunTrust Banks (later Truist Financial) in 2000. At the time of its acquisition by Crestar, the bank had 103 branches, most of which were in the Washington metropolitan area. It was the largest bank in Prince George's County, Maryland.
| Industry | Banking |
|---|---|
| Founded | November 20, 1928 |
| Defunct | March 14, 1997 |
| Fate | Acquired by Crestar Bank |
| Headquarters | Laurel, Maryland |
| Total assets | $3.842 billion (1996)[1] |
History
editThe bank was established on November 20, 1928.[1]
In 1982, the bank acquired Bank of Brandywine.[2]
On March 14, 1997, the bank was acquired by Crestar Bank for $774 million in stock.[1][3][4][5]
References
edit- ^ a b c "FDIC Bank Info: Citizens Bank of Maryland". Federal Deposit Insurance Corporation.
- ^ "Institution History for BRANDYWINE BRANCH (779829)". Federal Financial Institutions Examination Council.
- ^ "Crestar Financial to Buy Citizens Bancorp". The New York Times. Associated Press. September 17, 1996.(subscription required)
- ^ Knight, Jerry; Singletary, Michelle (September 17, 1996). "Crestar Agrees to Acquire Laurel's Citizens Bancorp". The Washington Post.
- ^ Deogun, Nikhil (September 17, 1996). "Crestar Will Acquire Citizens In a $745.5 Million Stock Swap". The Wall Street Journal.(subscription required)