UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) January 7, 2000
------------------------------
BAY BANKS OF VIRGINIA, INC.
---------------------------
(Exact Name of Registrant as Specified in Charter)
Virginia 0-22955 54-1838100
-------- ------- ----------
(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
100 S. Main Street, Kilmarnock, Virginia 22482
-------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (804) 435-1171
----------------------------
N/A
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events.
Bay Banks of Virginia in Kilmarnock, Virginia has created a subsidiary,
Bay Trust Company. The new subsidiary acquired the assets of the Trust
Department of the Bank of Lancaster in Kilmarnock, Virginia, also a subsidiary
of Bay Banks of Virginia.
A copy of the press release relating to the announcement is attached as
an exhibit hereto.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
99.1 Press Release, dated January 5, 2000.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BAY BANKS OF VIRGINIA, INC.
By: /s/ Austin L. Roberts, III
------------------------------
Austin L. Roberts, III
President and CEO
August 24, 1999
3
<PAGE>
EXHIBIT INDEX
Number Description of Exhibit
- ------ ----------------------
99.1 Press Release, dated January 5, 2000.
FOR IMMEDIATE RELEASE
- ---------------------
January 5, 2000
Contact: Hazel S. Farmer
(804) 435-4101
BAY TRUST COMPANY BEGINS OPERATIONS
Bay Trust Company, Inc., an affiliate of Bay Banks of Virginia and Bank
of Lancaster, began operation on January 3, 2000, reports trust company
president Paul T. Sciacchitano.
"We are excited about the opportunities that lie ahead for Bay Trust,
Sciacchitano reported. "We want to create long-term relationships with our
customers and have them view us as lifetime asset managers, not just settlers of
estates and trusts. Through personal service and a full line of trust and
investment products, it is our desire to be the sole source for all of our
customers' financial needs."
"The Year 2000 and the new century will provide us with many
opportunities for future growth and expansion," he stated. "Our vision for the
future includes entering new markets, providing diversification and giving Bay
Trust more of a regional presence as we bring our unique style of personal
service and excellence to a broader customer base."
Joining Sciacchitano in this new endeavor is Barbara K. McNeal, Vice
President and Trust Officer; Robert N. Carter, Vice President and Trust Officer;
Stephanie K. Cammarata, Operations Manager; Kathleen F. Pollard and Pamela J.
Kidwell, Administrative Assistants; and Beverly F. Garrett, Securities
Processor. "With almost ninety years of experience in banking, trust and
investments, our staff is one of our most valuable assets. They will provide our
customers with a great deal of knowledge and depth," reports Sciacchitano.
Bay Trust is headquartered at the Bank of Lancaster's main office at
100 South Main Street, Kilmarnock, Virginia. Renovation plans are currently
underway for a new facility.
