SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 ): June 1, 1998
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 ("MainStreet") to report that effective
June 1, 1998 the legal name was changed to MainStreet Financial
Corporation ("MainStreet").
MainStreet is a multi-community bank holding company
headquartered in Martinsville, Virginia. It owns eleven
community banks ( 45 offices), and two nonbanking subsidiaries.
One nonbank subsidiary is a trust company chartered as a limited
purpose national banking association and the other is a trust
formed under the laws of the State of Delaware, exclusively for
the purpose of issuing Trust Securities and investing the
proceeds in 8.90% Junior Subordinated Deferrable Interest
Debentures issued by MainStreet. MainStreet had total assets of
$2.0 billion at March 31, 1998. MainStreet 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 City of
Richmond and the Towns of Ashland and Mechanicsville and the
Counties of Hanover, Henrico and Chesterfield; the County of
Fairfax and the Cities of Reston and McClean, Virginia; the town
of College Park and Prince George's County, Maryland and
contiguous areas.
MainStreet also has a pending acquisition with Ballston
Bancorp, Inc., ("Ballston"), organized under the laws of the
State of Delaware. Ballston is a holding company with one
subsidiary, The Bank of Northern Virginia, which serves the
Arlington, Virginia area with three offices. A fourth office
will be opened in the Falls Church, Virginia area in the near
future. At March 31, 1998, Ballston had total assets of $75.7
million.
MainStreet will continue to trade under the NASDAQ symbol of
MSBC.
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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: June 4, 1998 By: /S/ James E. Adams
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James E. Adams
Chief Financial Officer,
Executive Vice President,
Treasurer
