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

DATE: SATURDAY, July 2, 1994                   TAG: 9407040120
SECTION: BUSINESS                    PAGE: A6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

First Virginia Banks Inc. of Fairfax said Friday it will acquire Farmers National Bancorp of Annapolis, Md.

Farmers has assets of $709 million and 20 offices in Maryland. First Virginia has assets of $7.2 billion and 329 branches in Virginia, Maryland, Washington, D.C., and Tennessee.

Shareholders of Farmers National will receive 1.5 shares of First Virginia stock for each of their 2.7 million outstanding shares. Based on the recent closing price of First Virginia, the deal is worth $151.9 million.

The merger is expected to take place in the fourth quarter.

-Staff report

Bankruptcy Court receives 7 petitions

Seven business-related bankruptcies have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. Six are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.

Legend Radio Group Inc., operator of a radio station at Abingdon, sought reorganization and protection from creditors. Craig Sutherland, president, estimated both assets and liabilities at less than $500,000.

Ricky Lee Hundley and Barbara Lynn Hundley of Pulaski filed for a wage-earner plan for repayment of debts, listing assets of $27,853 and liabilities of $20,576. He operated Classic Maintenance and Mick's Glass and Radiator.

Merle E. Ayers of 2221 Sherwood Ave. in Roanoke, former operator of Ayers Music Connection, asked for a wage-earner plan for repayment of debts, listing assets of $74,191 and liabilities of $88,269.

Tamera R. Young of 2606 Westover Ave. in Roanoke, a cosmetics distributor, filed for liquidation, with assets of $44,935 and liabilities of $84,636.

William Henson Jr. and Shirley E. Henson of 141 Southampton Drive in Vinton sought liquidation, with assets of $61,400 and liabilities of $70,099. Shirley Henson has an interest in Designing Women.

Wanda F. Sparks of Vansant filed for liquidation, with assets of $452 and liabilities of $130,849. She is the owner of Wanda's Inc., a restaurant business, and half-owner of W&L Transportation Inc.

James Henry Keene of Patterson had assets of $7,800 and liabilities of $457,595 in seeking liquidation. He is an owner of W&L Transportation and James H. Keene Trucking.

Carilion subsidiary to go public

Sterile Concepts Inc., a Richmond-based subsidiary of Roanoke-based Carilion Health System, has filed with the Securities and Exchange Commission to become a publicly traded company.

Carilion registered with the SEC last week to sell 5.44 million shares of Sterile Concepts stock, which it hopes will bring $17 to $19 per share on the Nasdaq.

Sterile Concepts assembles packages of sterilized, disposable procedure trays used in medical facilities. It employs more than 500 people in Richmond.

-Staff report