THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, April 21, 1995 TAG: 9504210612
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: (Staff)
LENGTH: Short : 21 lines
Virginia Beach Federal Financial Corp. said it earned $104,000, or 2 cents a share, for the March 31 quarter after losing $680,000, or 14 cents a share, in the comparable three months of 1994. Results for the quarter included a $312,000 adjustment on the market value of derivative contracts. The holding company parent of Virginia Beach Federal Savings Bank said its net interest income climbed 42 percent to $3.94 million from $2.77 million in the year-earlier period. First-quarter income from non-interest sources fell 55 percent to $618,000. by CNB