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

DATE: WEDNESDAY, March 27, 1991                   TAG: 9103270058
SECTION: BUSINESS                    PAGE: A-5   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Medium

RTC SEEKS BUYERS FOR 2 VA. THRIFTS

The Resolution Trust Corp. has launched an advertising campaign seeking immediate buyers for two seized Virginia thrifts, Heritage Federal Savings Bank in Richmond and Atlantic Permanent Federal Savings Bank in Norfolk.

The Virginia savings and loans were among 90 insolvent thrifts around the country listed Monday by the federal agency in a full-page Wall Street Journal ad.

The RTC said the effort to sell the thrifts immediately was prompted by the $30 billion in additional rescue funds Congress made available last week in a legislative package that tightened the RTC's auditing and reporting requirements and limited the exposure of RTC directors to private lawsuits.

The RTC ad said the institutions can be purchased in their entirety or branch by branch.

Heritage had assets of $888.8 million and deposits of $723.5 million at the end of September. Atlantic Permanent had assets of $418.5 million and deposits of $308.4 million at the end of September.

The RTC also listed 98 S&Ls that would be for sale by June 30, including three in Virginia:

CorEast Federal Savings Bank, with its legal headquarters in Roanoke but its primary offices in Richmond, which had assets Sept. 30 of $1.2 billion and deposits of $1 billion.

TrustBank Federal Savings Bank of McLean, with assets of $1.9 billion and deposits of $1.6 billion.

United Federal Savings Bank of Vienna, with assets of $374.9 million and deposits of $324 million.

CorEast and TrustBank were seized earlier this year. United Federal was seized last summer.

by CNB