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):
OCTOBER 1, 1996
F & M NATIONAL CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
VIRGINIA
(STATE OR OTHER JURISDICTION OF INCORPORATION)
000-05929
(COMMISSION FILE NUMBER)
54-0857462
(IRS EMPLOYER NUMBER)
38 ROUSS AVENUE, WINCHESTER, VIRGINIA 22604
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES INCLUDING ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
540-665-4200
NO CHANGE
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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FORM 8-K
F & M National Corporation
Winchester, Virginia
ITEM 5. OTHER MATERIALLY IMPORTANT EVENTS.
W. M. Feltner, Chairman of the Board of F&M National
Corporation ("F&M"), Winchester, Virginia, Leonard L. Abel,
Chairman of the Board, and Ronald D. Paul, President, of
Allegiance Banc Corporation, and H. L. Ward, President of
Allegiance Bank, N.A., jointly announced the completion of
the affiliation of Allegiance Banc Corporation with F&M
National Corporation. Allegiance Banc Corporation is the
parent company of Allegiance Bank, N.A.
The plan for the affiliation provides for an exchange rate of
0.7984 shares of F&M common stock for each of the outstanding
shares of common stock of Allegiance Banc Corporation.
Under the plan, Allegiance Bank, N.A. will become the
eleventh banking affiliate of F&M. The bank, organized in
1987, is headquartered in Bethesda, Maryland, and reported
total assets of approximately $133.0 million as of June 30,
1996.
F&M, now with assets in excess of $2.25 billion, is a multi-
bank holding company headquartered in Winchester, Virginia.
It now operates seven banking affiliates in Virginia, the
largest of which is F&M Bank-Winchester, three banking
affiliates in West Virginia, and one in Maryland, a total of
96 banking offices. F&M's common stock is listed on the New
York Stock Exchange under the symbol "FMN".
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
None
Pursuant to the filing requirements of the Securities and
Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto
duly authorized.
F & M NATIONAL CORPORATION
/s/
By: Alfred B. Whitt, Senior Vice President and Secretary
DATE: October 10, 1996
