ROANOKE TIMES 

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

DATE: WEDNESDAY, January 25, 1995                   TAG: 9501260052
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

BEDFORD FEDERAL INVESTORS TO MEET

Bedford Bancshares Inc., the parent company of Bedford Federal Savings Bank, will hold its first annual stockholders meeting at 2 p.m. today at the Terrace House Restaurant in Bedford.

The company formed last year when Bedford Federal converted from a federally chartered mutual savings bank to a federally chartered stock savings bank.

Its initial stock offering in August yielded $12.6 million, trading 1.26 million shares at $10 each. The stock, which trades on the Nasdaq as BFSB, sold for between $11.75 and $12.75 a share last quarter.

The company's total assets - listed at $105 million in 1994 - have grown by about 18 percent since 1990, when Bedford Federal listed $86 million in total assets. Bedford Bancshares' total liabilities in 1994 were $86 million, down from $90 million in 1993.

Bedford Federal was chartered in 1935 as Bedford Federal Savings and Loan Association. It changed its name to Bedford Federal Savings Bank in 1989.

- Staff report 


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