SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
MainStreet BankGroup Incorporated
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
560633109
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(CUSIP Number)
Check the following box if a fee is being paid with this statement. (A fee is
not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 4 Pages
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CUSIP NO. 560633109 13G Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Piedmont Company 54-6035647
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
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NUMBER OF 5 SOLE VOTING POWER
SHARES 437,402.0000 (3.66%)
BENEFICIALLY -----------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 199,817.8204 (1.67%)
REPORTING -----------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 730,152.4872 (6.09%)
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8 SHARED DISPOSITIVE POWER
199,817.8204 (1.67%)
- ------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,045,800.2237 (8.72%)
- ------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
/ /
- ------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.72%
- ------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BK
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Item 1(a) Name of Issuer
MainStreet BankGroup Incorporated
Item 1(b) Address of Issuer's Principal Executive Offices
1 Ellsworth Street
Martinsville, Virginia 24112
Item 2(a) Name of Person Filing
Piedmont Company
Item 2(b) Address of Principal Business Office
c/o MainStreet Trust Company, N.A.
P.O. Box 5228
Martinsville, Virginia 24115-5228
Item 2(c) Citizenship
U.S. - Virginia
Item 2(d) Title or Class of Securities
Common Stock
Item 2 (e) CUSIP Number
560633109
Item 3 If this Statement is filed pursuant to Rules 13d-1(b), check
whether person filing is
A:_________________________________________________
(X) Bank as defined in Section 3(a)(6) of the Act
Item 4 Ownership
(a) Amount beneficially owned 1,045,800.2237
(b) 8.72%
(c) No. of shares:
1. sole power to vote 437,402.0000
2. shared power to vote 199,817.8204
3. sole dispositive power 730,152.4872
4. shared dispositive power 199,817.8204
Page 3 of 4 Pages
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Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More Than Five Percent on Behalf of Another Person:
Beneficiaries of affected trusts and estates have the right
to receive or the power to direct the receipt of dividends
on or the proceeds from the sale of the MainStreet Common
Stock, but no one such person has any right or power as
respects 5% or more of the class.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
Not Applicable
Item 8 Identification and Classification of Members of Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 Certificate
By signing below, I certify that, to the best of my
knowledge and belief, the securities referred to above
were acquired in the ordinary course of business and
were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer
of such securities and were not acquired in connection with
or as a participant in any transaction having such purpose
or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct. THE FILING OF THIS STATEMENT SHALL NOT BE CONSTRUED AS AN ADMISSION
THAT PIEDMONT IS, FOR PURPOSES OF SECTIONS 13 (d) OR 13(g) OF THE ACT, THE
BENEFICIAL OWNER OF ANY SECURITIES COVERED HEREBY.
January 30, 1998 Piedmont Company
By: /s/ Nena M. Lovell
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Nena M. Lovell
Partner
Page 4 of 4 Pages
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