
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 19, 1990                   TAG: 9004190330
SECTION: BUSINESS                    PAGE: B9   EDITION: METRO 
SOURCE: 
DATELINE: RICHMOND                                LENGTH: Short

SIGNET HAS PROBLEMS IN REAL ESTATE LENDING

Signet Banking Corp. revealed problems with its real estate lending portfolio in its first-quarter profit report.

The report, released Tuesday, shows profit down 14 percent, to $27.1 million from $31.5 million. The Richmond-based bank said its "non-performing assets," which include defaulted and other problem loans, quadrupled to $104.6 million from $25.4 million in the same period a year ago.

A spokesman chalked up most of that increase to problems in the company's real estate loan portfolio, which totaled about $2 million at the close of the quarter. - Associated Press

by CNB