You Can Bank On Our Rates

The most local, national and online bank rates!

Capital One to Buy Chevy Chase Bank

Capital One plans to buy Maryland regional bank Chevy Chase Bank for $520 million in cash and stock.By The Associated Press

Updated from 12:06 a.m. EST

MCLEAN, Va. -- Capital One Financial says it will buy Chevy Chase Bank for about $520 million in cash and stock.

Capital One will buy the regional bank using $445 million in cash and 2.56 million Capital One shares valued at $75 million, or about $29.30 a share.

Chevy Chase bank has about $11 billion in deposits, with branches in Maryland, Virginia and Washington, D.C. Capital One has about $98.9 billion deposits.

McLean, Va.-based Capital One says the deal will boost operating earnings in 2009. has the best rates .

Calculators: Access to our Savings, Mortgage, Auto Loan and Personal Finance Tools.

green arrowFinancial Resources