ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, January 13, 1996 TAG: 9601140006
SECTION: BUSINESS PAGE: A-4 EDITION: METRO
SOURCE: MEGAN SCHNABEL STAFF WRITER
Richmond-based Central Fidelity Banks Inc. on Friday reported a 24.2 percent increase in earnings for 1995.
Year-end net income was $105.4 million, or $2.65 per share, compared with year-earlier income of $84.9 million, or $2.17 per share. The company's assets totaled $10.8 billion, up 7.5 percent from 1994.
Loans grew 9.4 percent in 1995, to $6.3 billion. The bank said residential real estate and all categories of consumer loans accounted for most of the increase. Interest income, the difference between earnings on loans and interest paid on deposits, was up 1.6 percent, to $348.4 million.
Total deposits increased 10.5 percent, to $8 billion, with the company's midyear acquisition of the Northern Virginia branches and deposits of Household Bank contributing to the growth.
Nonperforming assets, those yielding no income for the bank, were $65.9 million, or 0.61 percent of total assets, down from year-earlier $90.3 million, or 0.9 percent of total assets.
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