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Article: Capital One to Acquire Chevy Chase Bank.
- Article from:
- PR Newswire
- Article date:
- December 4, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The addition of Chevy Chase enhances Capital One's local banking business, including an expanded branch presence in the Mid-Atlantic and increased retail deposit base
MCLEAN, Va., Dec. 4 /PRNewswire-FirstCall/ -- Capital One Financial Corporation and Chevy Chase Bank today announced a definitive agreement under which Capital One will acquire Chevy Chase in a cash and stock transaction valued at approximately $520 million. With the addition of Chevy Chase's $11 billion in deposits, Capital One -- the largest retail depository institution headquartered in the Washington, D.C. region -- will also have the largest branch and ATM network in the area.
Under ...