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

DATE: TUESDAY, September 14, 1993                   TAG: 9309140194
SECTION: VIRGINIA                    PAGE: C3   EDITION: STATE 
SOURCE: Mag Poff
DATELINE:                                 LENGTH: Short

FIRST UNION TO SELL BRANCH IN PEMBROKE

First Union National Bank of Virginia has responded to community pressure again. The company said Monday it will sell its Dominion branch in Pembroke instead of merging it into one at Pearisburg.

Earlier this month, the bank decided to retain its branch in Southeast Roanoke after customers and a civic group protested its proposal to close it.

Byron Yost, president of First Union's Roanoke regional bank, said the proposed merger in Giles County require Pembroke customers to follow Dominion to the consolidated branch in Pearisburg.

But the response in Pembroke convinced First Union officials that customers there would switch to competing institutions instead.

So First Union decided to place the Pembroke office for immediate sale, he said. Because of required regulatory approvals, a sale would not take place until February or March.

Dominion's branch at Smith Mountain Lake also is for sale. Yost said no agreement has been reached with a potential purchaser.

When a bank branch is sold, Yost said, the buyer almost always retains the staff because they know the bank and its customers.

Memo: shorter version ran in the New River edition

by CNB