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

DATE: THURSDAY, April 27, 1995                   TAG: 9504270065
SECTION: BUSINESS                    PAGE: C-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

EARNINGS

Bedford Bankshares Inc., parent of Bedford Federal Savings Bank, said net income for its second quarter ended March 31 increased 35.4 percent to $363,000 or 31 cents a share compared to $268,000 last year. Per-share earnings are not applicable because the thrift converted to a stock company Aug. 19.

Income for the first six months amounted to $720,000 or 61 cents a share compared to $477,000 a year ago. Bedford reported an increase in net interest income of $511,000, due primarily to an increase in loans of $7.7 million. Deposits amounted to $84.6 million at March 31.

Brendle's

Brendle's Inc., Elkin, N.C. retailer, reported net income of $21.9 million, or $1.88 per share, on revenues of $166.5 million for its fiscal year ended Jan. 28, compared with a year-earlier net loss of $19.6 million, equal to $2.36 per share, on revenues of $171.1 million. For its fourth quarter, Brendle's reported net income of $4 million, or 32 cents per share, on revenues of $75 million, compared with year-earlier $576,000, or 7 cents per share, on revenues of $72.7 million.

Charter Federal

Charter Federal Savings Bank, based in Bristol, reported income for its third quarter ended March 31 of $1.5 million or 30 cents a share. Income for the same period a year ago was $2.6 million.

The thrift said the results reflect the declining net interest margin, the difference between interest paid on savings and interest earned on loans. This was brought about by the increase in short-term deposit and borrowing rates which reduced net interest income from $6.4 million last year to $5.5 million this year.

Year-to-date earnings total $5.2 million compared to $7.4 million last year. Results for the nine months include $2.4 million from the sale of Charter's Danville office.

The board voted Wednesday to declare a quarterly dividend of 10 cents a share payable May 15 to stockholders of record May 1.