THE VIRGINIAN-PILOT 
              Copyright (c) 1994, Landmark Communications, Inc.

DATE: Thursday, October 13, 1994             TAG: 9410130565
SECTION: BUSINESS                 PAGE: D2   EDITION: FINAL 
TYPE: Digest 
SOURCE: (Staff)
                                             LENGTH: Short :   20 lines

CENIT INCOME UP 28 PERCENT THANKS TO MERGER

CENIT Bancorp Inc.'s income jumped 28 percent in the third quarter due in part to its recent acquisition of Homestead Savings Bank. CENIT is the Norfolk-based parent of the federal savings bank CENIT Bank. It merged with Portsmouth-based Homestead in April. CENIT made $964,000, or 75 cents per share, in the quarter ended Sept., up from $753,000, or 59 cents a share, a year earlier. CENIT operates 11 branches in Hampton Roads. by CNB