Article: Jefferson Shareholders Approve Merger With Wachovia

WINSTON-SALEM, N.C., Oct. 22 /PRNewswire/ -- Jefferson Bankshares Inc., the parent of Jefferson National Bank in Charlottesville, Va., and Wachovia Corporation (NYSE: WB) today announced that Jefferson's shareholders have approved the previously announced merger between Jefferson and Wachovia.

The merger, which also has been approved by the Federal Reserve Board and the Virginia Bureau of Financial Institutions, is expected to be finalized at the close of business Friday, Oct. 31. Jefferson National Bank will continue to operate under its name until March 20, 1998, when the merger and integration with Wachovia Bank, N.A., is expected to be completed.

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