Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, February 13, 1993 TAG: 9302150263
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Dominion to release report on ThursdayDominion Bankshares Corp. said Friday it now plans to release its 1992 financial report on Feb. 18. James Adams, Dominion's chief financial officer, said the board of directors' audit committee will meet Thursday to review the results before they are made public.
Also, by then final approvals should be in hand for the March 1 acquisition of Roanoke-based Dominion by First Union Corp. of Charlotte, N.C.
Dominion's fourth-quarter statement is expected to reflect a reserve of $65.7 million for expenses related to the merger into First Union and thus to show a paper loss of about $100 million for last year. Under normal circumstances, Dominion would have reported the financial results in late January. - Staff report
Trustbank tax forms delayed by RTC error
Homeowners whose mortgages were with the now-defunct Trustbank Savings Bank are having to wait for their 1992 tax statements, thanks to a problem at the government agency that took over the thrift. But the Resolution Trust Corp. said Friday those statements should be in the mail by Feb. 19.
The statements will show payments and interest collected for the period from January through July of last year.
They were supposed to be mailed by Feb. 1.
A spokeswoman for the RTC in Atlanta said the delay was caused by its inability to print the forms from a computer tape supplied by the former Trustbank.
The RTC, which took over the failed thrift, sold the mortgage servicing rights to another company last summer. That company has sent its statements for later months.
The RTC spokeswoman said its customer service line has been overwhelmed by calls about the statements so that many people are unable to get through. The toll-free number is (800) 628-4362. - Staff report
Bank mergers boost jobs at Salem plant
Bank acquisitions and mergers are bringing new business to Couvrette Building Systems of Salem, the company said Thursday. Couvrette, maker of shelters for automated teller machines, has hired about 15 employees this year, bringing its work force to 60, said John Conley, general manager.
First Union Corp., the Charlotte, N.C.-based proposed acquirer of Dominion Bankshares Corp., has ordered new equipment from Couvrette for the South Carolina banking system it bought recently. Another order has come from NationsBank Corp., which also has merged several banks into its system.
Banks are generating a lot of activity, mainly in mergers, Conley said. Growth will depend on equipment orders, he said. Couvrette moved from California to the former Gardner-Denver Mining and Construction division building in Salem almost three years ago. - Staff report
Briefly . . .
HBA Cast Products Co., a Springfield, Mass. maker of aluminum and zinc cast products, said it will buy a 14-acre site including a 40,000-square-foot building in an industrial park at Chatham. The company said it plans to employ up to 100 people in an aluminum and zinc cast-products plant. HBA has a plant at Bristol.
Carter Machinery Co. Inc. of Salem has won a $164,645 contract from the Military Ocean Terminal in Norfolk for Caterpillar diesel parts.