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): June 9, 1995
Central Fidelity Banks, Inc.
(Exact name of registrant as specified in its charter)
Virginia 0-8829 54-1091649
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1021 East Cary Street, Richmond, Virginia 23219
(Address of principal offices)
Registrant's telephone number, including area code: (804) 782-4000
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Item 5. Other Events
On June 9, 1995, the Company, through its principal subsidiary, Central
Fidelity National Bank (the "Bank"), acquired (the "Acquisition") the
Virginia branches and assumed the Virginia deposits of Household Bank,
f.s.b. ("Household"), a subsidiary of Household International,
headquartered in Chicago, Illinois.
This Acquisition included approximately $450 million in deposits and 14
branch offices located in Northern Virginia in the City of Alexandria
and Arlington, Prince William and Fairfax Counties. In addition,
approximately $4 million miscellaneous assets were acquired.
The Bank paid Household a premium of 8% on all deposits acquired. It is
expected that this transaction will not have a material impact on the
Company's 1995 operating results.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99. Press release, dated June 9, 1995, regarding Household Bank,
f.s.b. branch acquisition
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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 hereunto duly authorized.
Central Fidelity Banks, Inc.
(Registrant)
Date: June 12, 1995 /s/ James F. Campbell
James F. Campbell
Senior Vice President & Controller
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EXHIBIT INDEX
Exhibit 99. Press release, dated June 9, 1995, regarding Household Bank,
f.s.b. branch acquisition
<PAGE>
Exhibit 99
News Release Central Fidelity
Central Fidelity Banks, Inc. For Release: IMMEDIATELY
Post Office Box 27602
Richmond, Virginia 23261-7602 Information Contact: Susan Lawrence Mistr
Public Relations
Manager
(804) 697-7261
June 9, 1995
CENTRAL FIDELITY ACQUIRES VIRGINIA BRANCHES AND DEPOSITS OF
HOUSEHOLD BANK, F.S.B.
Richmond, VA -- Central Fidelity Banks, Inc. (NASDAQ-CFBS) announced today
that it has acquired, through its principal subsidiary Central Fidelity
National Bank, the Virginia branches and deposits of Household Bank, f.s.b,
a subsidiary of Household International, Inc.
The transaction includes approximately $450 million in deposits held by
over 50,000 accounts and 14 Northern Virginia offices located in Arlington,
Alexandria, Prince William and Fairfax. Central Fidelity paid Household
a market premium on all deposits acquired.
"This expansion is part of our core operating philosophy to remain a
Virginia-only independent bank," said Central Fidelity Chairman and Chief
Executive Officer Lewis N. Miller, Jr. "Our strategy is to grow within
Virginia's borders. This acquisition meets our objectives for market
coverage and profitability and increases the number of branch locations
we now have serving Northern Virginia to 51 offices. We welcome the former
customers of Household and look forward to serving them."
Central Fidelity Banks, Inc. is a Richmond, Virginia-based bank holding
company with assets of $10.1 billion and 244 offices.
