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

DATE: THURSDAY, October 12, 1995                   TAG: 9510120048
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

REPORTED EARNINGS

Central Fidelity Banks Inc. reported third-quarter income of $27.6 million, up 0.6 percent from $27.4 million in the 1994 period. Income per share was 69 cents vs. 70 cents last year, down 1.4 percent, a result of a higher number of shares outstanding.

For nine months, income was $79.3 million, or $2 per share, compared with $86.3 million, or $2.21 a share: down 8.1 percent in income and 9.5 percent in earnings per share.

Chairman Lewis N. Miller said the challenge facing the bank this year and next is to "continue strong, well-underwritten loan growth as we seek to shift our earning asset mix from securities to loans, thus generating greater net interest income and enhanced earnings."

The bank said total loans for the quarter were up 9.8 percent to $6.1 billion, with consumer and residential real estate loans accounting for the bulk of the growth. Deposits rose 9.5 percent to $7.8 billion.

Central Fidelity had total assets Sept. 30 of $10.7 billion, up 8.2 percent from the prior year.