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

DATE: WEDNESDAY, April 13, 1994                   TAG: 9404130109
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

REPORTED EARNINGS

Crestar Financial Corp., Richmond parent of Crestar Bank, on Tuesday reported record first-quarter income of $40.5 million, or $1.07 a share, up from $30.9 million, or 83 cents a share, in the first quarter of 1993.

Chairman Richard Tilghman said the results represent successful implementation of the bank's business strategies, combined with continuing improvement in the credit quality of its loan customers.

During the quarter, Crestar completed acquisition of Virginia Federal Savings Bank of Richmond and NVR Federal Savings Bank and Providence Savings and Loan Association, both in McLean.

Loans at the end of the quarter totaled $8.2 billion, compared with $7.3 billion on Dec. 31 and $6.4 billion a year ago. At the end of March, Crestar said, deposits were $11.1 billion and assets were $14.4 billion.