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

DATE: FRIDAY, July 20, 1990                   TAG: 9007200276
SECTION: BUSINESS                    PAGE: A-5   EDITION: STATE 
SOURCE: 
DATELINE:                                 LENGTH: Short

PIEDMONT BANKGROUP REPORTS EARNINGS GROWTH

Piedmont BankGroup Inc. has reported first-half earnings of $2.8 million or 97 cents a share, compared to $2.76 million or 96 cents a share for the same period last year.

The Martinsville-based bank-holding company said overall loan demand is moderating. Deposits were up 8.3 percent, while loans rose only 4.9 percent.

Excess funds were diverted into the investment portfolio, composed primarily of government securities, which grew 18.2 percent to $129.8 million.

Non-performing loans stood at about $6 million or 1.26 percent of outstanding loans on June 30, a decrease from the $8.6 million reported on the same date last year.

The company announced that it has acquired about 2,000 of its shares under a recently announced program to purchase up to 50,000 shares.

- Staff report

by CNB