Citigroup Inc is in talks to buy U.S. regional lender Chevy Chase Bank FSB, which operates in the mid-Atlantic region, Reuters reports.
Citigroup is one of a number of bidders for Chevy Chase, and it isn’t clear the New York bank will walk away with a deal.
Chevy Chase Bank, based in Bethesda, Maryland, has more than 285 branches, mostly in the Washington metropolitan area.
Last month, Citigroup lost out in its bid for Wachovia Corp, which was acquired by Wells Fargo & Co.
Citigroup and Chevy Chase Bank could not be immediately reached for comment.
D.C.