JEFFERSON BANKSHARES INC
10-Q/A, 1995-03-09
STATE COMMERCIAL BANKS
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                             AMENDMENT NO. 1
                                   TO

                               FORM 10-Q/A

                   SECURITIES AND EXCHANGE COMMISSION

                       Washington, D. C.  20549



(Mark One)

[ X ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
       EXCHANGE ACT OF 1934


       For the Quarterly Period Ended September 30, 1994


[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934


                    Commission File Number: 0-9101


                      JEFFERSON BANKSHARES, INC.


Incorporated in the                                I.R.S. Employer ID No.
State of Virginia                                       54-1104491


                         123 East Main Street

                         Post Office Box 711

                   Charlottesville, Virginia  22902

                        Telephone (804) 972-1100


Indicate by a check mark whether the Registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange 
Act of 1934 during the preceding 12 months and (2) has been subject to 
such filing requirements for the past 90 days.  Yes    X      No  _____

As of October 15, 1994, Registrant had 15,202,050 shares of its $2.50 
par value common stock issued and outstanding.

<PAGE>


     The Registrant hereby amends the Financial Data Schedule, Exhibit 27, for 
the quarter ended September 30, 1994.  The previously filed Financial Data 
Schedule showed only a single quarter's information rather than year-to-date 
information.  The amended Financial Data Schedule shows year-to-date 
information.

<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.



Date:  March 9, 1995



                                       Jefferson Bankshares, Inc.



                                       By:  O. Kenton McCartney   
                                            President and
                                            Chief Executive Officer




<TABLE> <S> <C>


<PAGE>

<ARTICLE> 9
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               SEP-30-1994
<CASH>                                          94,832
<INT-BEARING-DEPOSITS>                       1,423,662
<FED-FUNDS-SOLD>                                   300
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    164,747
<INVESTMENTS-CARRYING>                         507,652
<INVESTMENTS-MARKET>                           501,769
<LOANS>                                      1,069,432
<ALLOWANCE>                                     13,678
<TOTAL-ASSETS>                               1,922,046
<DEPOSITS>                                   1,689,338
<SHORT-TERM>                                    12,657
<LIABILITIES-OTHER>                             14,513
<LONG-TERM>                                         20
<COMMON>                                        38,005
                                0
                                          0
<OTHER-SE>                                     167,513
<TOTAL-LIABILITIES-AND-EQUITY>               1,922,046
<INTEREST-LOAN>                                 61,364
<INTEREST-INVEST>                               33,454
<INTEREST-OTHER>                                   971
<INTEREST-TOTAL>                                95,789
<INTEREST-DEPOSIT>                              33,157
<INTEREST-EXPENSE>                              33,494
<INTEREST-INCOME-NET>                           62,295
<LOAN-LOSSES>                                    1,225
<SECURITIES-GAINS>                               1,166
<EXPENSE-OTHER>                                 49,568
<INCOME-PRETAX>                                 25,309
<INCOME-PRE-EXTRAORDINARY>                      16,825
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    16,825
<EPS-PRIMARY>                                     1.11
<EPS-DILUTED>                                        0
<YIELD-ACTUAL>                                    4.80
<LOANS-NON>                                      7,105
<LOANS-PAST>                                     2,852
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                  3,139
<ALLOWANCE-OPEN>                                13,864
<CHARGE-OFFS>                                    1,866
<RECOVERIES>                                       455
<ALLOWANCE-CLOSE>                               13,678
<ALLOWANCE-DOMESTIC>                            11,300
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          2,378
        

</TABLE>


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