CHARTER FEDERAL TURNS A PROFIT IN 2ND QUARTER

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

DATE: FRIDAY, January 10, 1992                   TAG: 9201100099
SECTION: BUSINESS                    PAGE: A-5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short
CHARTER FEDERAL TURNS A PROFIT IN 2ND QUARTER
Charter Federal Savings Bank on Thursday reported earnings of $2.3 million, or 63 cents a share, for fiscal 1992's second quarter, which ended Dec. 31.
In the corresponding 1991 quarter, Charter recorded a loss of $652,000, or 18 cents a share.
The Bristol-based thrift said that total profit for the first six months was $2.5 million, or 69 cents a share, compared to last year's loss of $1.6 million, or 44 cents a share.
Charter, which has branches throughout Western Virginia, attributed the improvement to an increase in interest income and a $1.93 million settlement with an insurance company for funds embezzled by a former employee.
Charter, however, still does not meet the capital standards required by federal regulators. The bank said its proposed business plan, which the government has disapproved, projects full compliance by 1994.

by Archana Subramaniam by CNB