Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, September 15, 1995 TAG: 9509150080
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
SWVA Bancshares Inc. of Roanoke, the holding company of Southwest Virginia Savings Bank, said Thursday the Office of Thrift Supervision has approved the company's repurchase of up to 5 percent (or 28,529 shares) of its common stock.
B.L. Rakes, president, said the shares will be purchased in open market transactions between now and Oct. 7. The stock is traded over the counter through the National Daily Quotation System. The stock traded at $17.371/2 per share at the close of Thursday's market, unchanged from Wednesday's close.
- Staff Report
30-year mortgages keep on falling
WASHINGTON - Thirty-year, fixed-rate mortgages averaged 7.60 percent this week, down from 7.63 percent last week, according to a national survey released Thursday by the Federal Home Loan Mortgage Corp.
It was the lowest since July 20, when rates also averaged 7.60 percent. Rates had dropped to 7.41 percent during the week of July 13 from a recent high of 9.25 percent during the week of Nov. 23, 1994.
On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.80 percent, down from 5.86 percent last week.
Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.12 percent this week, down from 7.16 percent a week earlier.
The rates do not include add-on fees known as points.
- Associated Press
Earnings
Circuit City Stores Inc., Richmond-based retailer, reported net earnings of $41.2 million, or 42 cents per share, on sales of $1.60 billion for its second quarter ended Aug. 31 compared with year earlier $36.1 million, or 37 cents per share, on sales of $1.22 billion. For the six months, earnings were $65.9 million, or 67 cents per share, on sales of $2.99 billion compared with year earlier $55.7 million, or 57 cents per share, on sales of $2.27 billion.
by CNB