Printer Friendly

VIRGINIA FIRST SAVINGS BANK, F.S.B. ANNOUNCES RESULTS

 VIRGINIA FIRST SAVINGS BANK, F.S.B. ANNOUNCES RESULTS
 PETERSBURG, Va., April 17 /PRNewswire/ -- William A. Patton,


Chairman of the Board and Chief Executive Officer of Virginia First Savings Bank, F.S.B., (NASDAQ-NMS: VFSB) Petersburg, Virginia, today announced improved third quarter financial results. Net earnings of $540,746, or $.21 per share were reported for the three month period ended March 31, 1992 on assets of $561,973,173 and stockholders' equity of $27,570,294 at quarter's end. Patton said, "operating results showed a 67 percent improvement over the $316,315, or $.12 per share for the corresponding quarter of the previous year." Earnings for the first nine months of operations were $1,587,260, or $.60 per share through March 31, 1992 compared with $1,194,107, or $.45 per share for the corresponding period last year.
 "Although operating results were solid," Patton said, "the quarter's most significant event was the acquisition from the Resolution Trust Corporation of five (5) former CorEast Savings branches and one (1) former Trustbank branch. Through these transactions, Virginia First acquired 15,000 deposit accounts and in excess of $130,000,000 of deposits, while expanding our franchise base." Virginia First acquired two (2) branches in the Richmond, Virginia market and established a new retail presence in Appomattox, Lynchburg and Rocky Mount, Virginia.
 Virginia First now operates 22 retail banking branches with deposits in excess of $480,000,000 and 10 mortgage production offices throughout the states of Virginia and Maryland. Deposits are FDIC insured.
 -0- 4/17/92
 /CONTACT: Paul W. Walk, Jr., Senior Vice President, Virginia First Savings Bank, F.S.B., 804-733-0333 or 748-5847/
 (VFSB) CO: Virginia First Savings Bank, F.S.B. ST: Virginia IN: FIN SU: ERN


JZ -- CH005 -- 9761 04/17/92 17:36 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 17, 1992
Words:299
Previous Article:GLENFED INC. REPORTS THIRD QUARTER RESULTS
Next Article:MINNESOTA AND WISCONSIN ENVIRONMENTAL INNOVATORS GET NEW, TOP AWARDS FROM TWIN CITIES NATURAL FOOD CO-OPS


Related Articles
VIRGINIA FIRST SAVINGS BANK ACQUIRES TRUSTBANK RETAIL BANKING BRANCH IN LYNCHBURG, VA.
SEABOARD BANCORP, INC. ANNOUNCES FIRST QUARTER OPERATING RESULTS
POUGHKEEPSIE SAVINGS BANK ANNOUNCES SALE OF SOUTH CAROLINA BRANCHES
VIRGINIA FIRST SAVINGS BANK ANNOUNCES EARNINGS
SEABOARD ANNOUNCES PLANS FOR SALE OF BRANCH TO VIRGINIA BEACH FEDERAL
VIRGINIA FIRST SAVINGS BANK ANNOUNCES RECORD EARNINGS
VIRGINIA FIRST SAVINGS BANK APPROVED FOR LISTING ON THE NASDAQ NATIONAL MARKET SYSTEM
VIRGINIA FIRST SAVINGS BANK ANNOUNCES EARNINGS
AMERIBANC INVESTORS GROUP SHAREHOLDERS APPROVE ACQUISITION BY FIRST UNION CORPORATION
FNB Corporation and SWVA Bancshares, Inc. Announce Shareholder Approval of Affiliation.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters