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 19, 1996
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 executive offices)
Registrant's telephone number, including area code: (804) 782-4000
This document contains 5 pages.
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Item 5. Other Events
On January 19, 1996 the Registrant issued a Press Release announcing a
program to repurchase up to 2,000,000 shares of its common stock.
<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 hereunto duly authorized.
Central Fidelity Banks, Inc.
(Registrant)
Date: January 24, 1996
/s/ James F. Campbell
James F. Campbell
Senior Vice President & Controller
<PAGE>
EXHIBIT INDEX
Exhibit 99. Press Release announcing a program to repurchase up to
2,000,000 shares of its common stock dated January 19, 1996
<PAGE>
Exhibit 99
News Release Central Fidelity
Central Fidelity Banks, Inc. For Release:
IMMEDIATELY
Post Office Box 27602
Richmond, Virginia 23261-7602
Information Contact:
Charles W. Tysinger
Chief Financial Officer
(804) 697-7038
January 19, 1996
CENTRAL FIDELITY AUTHORIZES 2,000,000 SHARE
REPURCHASE PROGRAM
Richmond, VA -- The Board of Directors of Central Fidelity Banks, Inc.
(NASDAQ-CFBS) has authorized the Corporation to purchase up to
2,000,000 shares of its common stock which represents approximately
5% of its outstanding shares.
Management of Central Fidelity stated that purchases will be made
periodically in either open-market or private transactions, or both.
The repurchased shares may be used for general corporate purposes,
including reissuance under various stock option and benefit plans
of the Corporation. The number of shares actually acquired will
depend on subsequent developments and corporate needs. When and if
commenced, the purchases may be discontinued or interrupted at
any time.
Although the authorization has no time limitation, management
anticipates that this repurchase program will be accomplished over
the next 18 to 24 months.
Central Fidelity presently has approximately 40.2 million shares of
common stock outstanding.
Central Fidelity Banks, Inc. is a Richmond, Virginia-based bank
holding company with assets of $10.8 billion and 245 offices.
