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CENTRAL VIRGINIA BANKSHARES POSTS SHARPLY HIGHER EARNINGS

 POWHATAN, Va., Nov. 4 /PRNewswire/ -- Central Virginia Bankshares, Inc. (NASDAQ: CVBK) posted sharply higher earnings for the third quarter as it completed its 80th consecutive profitable quarter.
 Earnings in the September quarter jumped 36 percent to a record $363,893, compared to earnings of $266,678 in the third quarter last year.
 The Powhatan-based bank holding company for Central Virginia Bank earned 39 cents per share in the third quarter vs. 47 cents in the comparable period last year when 40 percent fewer shares were outstanding.
 Nine month earnings showed an increase of 47 percent as the bank earned $1,035,943 ($1.32 per share) compared to $703,650 ($1.25 per share) last year.
 R. Larry Lyons, president, attributed the sharp gain in earnings to rising income from loans, reduced deposit interest expense and the effects of a $4.3 million capital infusion from an earlier stock sale.
 Central Virginia Bank, a 20 year old community bank with assets of $98 million, operates banking offices in Powhatan, Chesterfield and Cumberland counties in the greater metropolitan Richmond area of central Virginia.
 CENTRAL VIRGINIA BANKSHARES, INC.
 Third Quarter Ended Sept. 30: 1993 1992
 Deposits $87,352,944 $80,703,176
 Assets 98,549,939 86,555,012
 Quarter Sept. 30: 1993 1992
 Net income $363,893 $266,678
 Average shares 937,890 563,390
 Per share:
 Net income $0.39 $0.47
 Nine months
 Net income $1,035,943 $703,650
 Average shares 787,295 563,599
 Per share:
 Net income $1.32 $1.25
 -0- 11/4/93
 /CONTACT: Ralph Larry Lyons, president of Central Virginia Bankshares, Inc., 804-794-6266, or fax 804-598-7672/
 (CVBK)


CO: Central Virginia Bankshares, Inc. ST: Virginia IN: FIN SU: ERN

LD -- NY128 -- 1037 11/04/93 21:06 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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