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Three Maryland thrifts were reopened by Chase.

November 02, 1985

Chase Manhattan, which bought the three ailing savings and loan associations, was prepared for long lines of worried depositors ready to close their accounts when the doors opened Friday morning. But customers of the thrifts appeared relieved that the big New York bank took over the associations, which have been under restrictions limiting withdrawals since a state banking crisis in May. The Maryland Legislature approved Chase's purchase of Merritt, Friendship and Chesapeake savings and loan associations on Oct. 22, freeing up the deposits of about 70,000 customers.

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