|
|
Article: Chevy Chase Bank Attracts Suitors; Bethesda Institution in Talks With Citigroup and Others
- Article from:
- The Washington Post
- Article date:
- November 14, 2008
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
|
Chevy Chase Bank, part of the fabric of the Washington business
community for nearly four decades, is in discussions with potential
buyers, according to people familiar with the situation.
The Bethesda financial institution has attracted the interest of
several larger banks including Citigroup. The discussions come at a
time when the banking industry is in upheaval. There have been
several high-profile mergers among financial institutions over the
past two months as the credit markets have frozen and the economy
contracts.
"Usually when a bank is put up for sale it's very quiet," said
Bert Ely, a local banking analyst. "But this time I'm hearing a lot
about it."
Chevy Chase executive vice ...