Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, April 16, 1993 TAG: 9304160194
SECTION: BUSINESS PAGE: B4 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
2 cited for efforts to reopen hotelTwo Western Virginians involved in the effort to reopen the Hotel Roanoke have been cited for leadership and contributing to growth and betterment of the Roanoke Valley.
Thomas L. Robertson, president and chief executive officer of Roanoke-based Carilion Health System, and James D. McComas, president of Virginia Tech in Blacksburg, on Wednesday night were given the Night Rider Award, sponsored by the Roanoke Jaycees and the Roanoker magazine.
The award is named for the night horseback ride from the valley to Lexington in 1881 by the Rev. John C. Moomaw. His mission was to deliver a petition and pledges of $7,875 from residents of the then-town of Big Lick to the Shenandoah Railroad, guaranteeing free right-of-way for tracks to the town. The railroad's extension led to development of a rail transportation hub in what would become Roanoke.
Both Robertson and McComas were cited for their civic involvement and participation in the Renew Roanoke fund-raising effort for the hotel.
The award has been given twice previously, in 1984 to Lucian Y. Grove for creation of what became the Roanoke Valley Economic Development Partnership, and to Warner Dalhouse for leadership in creating Center in the Square in downtown Roanoke. - Staff report
\ Central Fidelity reports earnings
Central Fidelity Banks Inc. on Thursday reported record earnings for the first quarter, a 53.2 percent gain to $24.1 million compared with year-earlier $15.8 million. Net income per share was 63 cents vs. 48 cents.
Total assets as of March 31 were up 27 percent to $8.73 billion and loans at quarter-end rose 11 percent to $4 billion, with primary growth reflected in residential first-mortgage lending activities, the company said.
Total deposits increased 18.2 percent to $6.62 billion.
Net interest income for the first quarter grew 24 percent to $85.2 million. Noninterest income from service fees and other charges increased 19 percent to $20.8 million.
Nonperforming assets at the end of the quarter were valued at $112.3 million, or 1.29 percent of total assets, compared to $95.2 million or 1.38 percent a year earlier. The bank's allowance for loan losses was $101.8 million, or 2.54 percent of total loans, compared to $69.5 million, or 1.92 percent of total loans, for the same period last year.