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 ):
November 19, 1997
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MAINSTREET BANKGROUP INCORPORATED
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(Exact name of as specified in charter)
Virginia 0-8622 54-1046817
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(State or other (Commission IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
P.O. BOX 4831, Martinsville, Virginia 24115-4831
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
540-666-6724
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Item 5. Other Events
This current report on Form 8-K is filed by MainStreet
BankGroup Incorporated ("Registrant") to report the private
offering of $50 million in 8.90% Capital Securities ("Trust
Securities") representing beneficial interests in MainStreet
Capital Trust I, a trust formed under the laws of the State
of Delaware, (the "Trust"). Registrant will be the owner of
all of the beneficial interests represented by common
securities of the Trust. The Trust exists for the exclusive
purposes of issuing the Trust Securities and investing the
proceeds thereof in the 8.90% Junior Subordinated Deferrable
Interest Debentures (the "Junior Subordinated Debentures")
to be issued by the Corporation and certain other limited
activities. The Junior Subordinated Debentures are
scheduled to mature on December 1, 2027.
Registrant is a multi-community bank holding company
headquartered in Martinsville, Virginia. It owns eight
community banks ( 35 offices), and one nonbanking
subsidiary, chartered as a limited purpose national banking
association, with total third quarter assets of $1.5
billion and pending affiliations with Commerce Bank, College
Park, Maryland, with third quarter assets of $90.1 million,
Tysons Financial Corporation, McLean, Virginia, with third
quarter assets of $98.0 million and Regency Financial
Shares, Incorporated, Richmond, Virginia, with third quarter
assets of $75.0 million. Registrant currently serves the
following markets: City of Martinsville and Henry County;
the City of Galax, Town of Hillsville and Carroll and
Grayson Counties; the Towns of Ferrum and Rocky Mount and
Franklin County; the Town of Forest, City of Lynchburg and
Bedford, Campbell and Amherst Counties; the Town of Stuart
and Patrick County; the Towns of Saltville and Chilhowie and
Smyth County; the City of Clifton Forge and Alleghany
County; the Towns of Ashland and Mechanicsville and the
Counties of Hanover and Henrico, Virginia and contiguous
areas.
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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.
MAINSTREET BANKGROUP INCORPORATED
Date: November 25, 1997 By: /s/ JAMES E. ADAMS
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James E. Adams
Executive Vice President/
Chief Financial Officer/
Treasurer
