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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): September 16, 1994
RIGGS NATIONAL CORPORATION
_______________________________________________________________
(Exact name of Registrant as specified in Charter)
Delaware 0-9756 52-1217953
____________________________ _____________ _______________________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
1503 Pennsylvania Avenue, N.W., Washington, D.C. 20005
____________________________________________________________
(Address of principal executive offices)
Registrant's telephone number, including area code: (202) 835-6000
______________
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Item 5. OTHER EVENTS
On September 15, 1994, Riggs National Corporation
announced it has been notified by the Office of the
Comptroller of the Currency (OCC) that the OCC has
terminated the written agreement under which The Riggs
National Bank of Washington, D.C., has been operating since
May 14, 1993.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibits are filed as part of this Form 8-K:
EXHIBIT NO. DESCRIPTION
99 Press release, dated September 15, 1994.
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.
Date: September 16, 1994 /s/ John L. Davis
___________________ _______________________
John L. Davis
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
99 Press release, issued September 15, 1994, relating to
notification by the Office of the Comptroller of the
Currency (OCC) that the OCC has terminated the written
agreement with The Riggs National Bank of Washington, D.C.
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LOGO NEWS RELEASE
RIGGS NATIONAL CORPORATION
800 17TH STREET, N.W.
WASHINGTON, D.C. 20074-0114
For Immediate Release, Thursday, September 15, 1994
Riggs National Corporation said it has been notified by the
Office of the Comptroller of the Currency (OCC) that the OCC has
terminated the written agreement under which The Riggs National
Bank of Washington, D.C., has been operating since May 14, 1993.
The notification from the OCC stated: "The terms and requirements
of said Agreement have been satisfactorily carried out and
complied with."
Joe L. Allbritton, chairman and chief executive officer of
Riggs National Corporation, parent of the Washington bank, said,
"The termination of the regulatory agreement makes it official.
The men and women of Riggs have succeeded in overcoming difficult
challenges during the last few years. Today, Riggs is profitable,
well-capitalized, and proudly carrying on a 158-year-old
tradition of serving the financial services needs of the
Washington metropolitan market."
Added Fred L. Bollerer, president and chief executive
officer of Riggs-Washington: "Today's announcement marks the
start of a new era in Riggs's long and distinguished history.
This institution is a major edifice in the Washington financial
landscape, and we are committed to being THE bank for Washington
and the entire metropolitan community."
Through June 30, Riggs National Corporation has completed
four consecutive quarters of profitability and has reported
capital ratios significantly in excess of regulatory guidelines.
Riggs National Corporation is a Washington, D.C.-based
multibank holding company, with banks in Washington, D.C.,
Virginia, Maryland, The United Kingdom and France. Riggs serves
the metropolitan Washington area with 34 locations in the
District of Columbia, 17 in Virginia and 11 in Maryland. The
company's common shares (RIGS) are traded on the NASDAQ National
Market System.
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For more information, contact:
James E. Day
Director of Communications
202-835-5156
