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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): July 14, 1994
RIGGS NATIONAL CORPORATION
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(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
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(Address of principal executive offices)
Registrant's telephone number, including area code: (202) 835-6000
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Item 5. Other Events
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On July 13, 1994, Riggs National Corporation (the
"Company") announced the election of Fred L. Bollerer to
the position of president and chief executive officer of
The Riggs National Bank of Washington, D.C. ("Riggs-
Washington"). Riggs-Washington is the principal
subsidiary of the Company. Mr. Bollerer was also elected
a director of both the Company and Riggs-Washington.
On July 13, 1994, the Company also announced that
Robert L. Sloan, chief executive officer of Sibley
Memorial Hospital, has been elected vice chairman of the
board of directors for both the Company and Riggs-
Washington.
On July 13, 1994, the board of directors of the
Company declared a regular quarterly dividend of $0.46875
per share, payable August 1, 1994, to holders of record
July 31, 1994, on the Company's 7.5% Cumulative
Convertible Preferred Stock, Series A. In addition, the
board of directors declared a regular quarterly dividend
of $0.671875 per share, payable August 1, 1994, to
holders of record July 18, 1994, on the Company's 10.75%
Noncumulative Perpetual Preferred Stock, Series B.
Item 7. Financial Statements and Exhibits
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The following exhibits are filed as part of this Form 8-K:
Exhibit No. Description
__________ ___________
99 Press release, dated July 13, 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: July 14, 1994 /s/ John L.Davis
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John L. Davis
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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Index to Exhibits
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Exhibit No. Description
___________ ___________
99 Press release, issued July 13, 1994, relating to
the elections of Fred L. Bollerer and Robert L.
Sloan. Also, regular quarterly dividends
declared on Preferred Stock, Series A and B.
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LOGO NEWS RELEASE
Riggs National Corporation
800 17th Street, N.W.
Washington, D.C. 20074-0114
For Immediate Release, Wednesday, July 13, 1994
The board of directors of The Riggs National Bank of
Washington, D.C., the city's leading bank, elected Fred
L. Bollerer to the position of president and chief
executive officer. The bank is the principal subsidiary
of Riggs National Corporation. Mr. Bollerer was also
elected a director of the bank and of the parent company.
Mr. Bollerer, 52, has served as executive vice
president-general banking of the bank since 1993. Since
May 1994, when Paul M. Homan resigned, the
responsibilities of president and chief executive officer
of the bank have been filled on an interim basis by Joe
L. Allbritton. Mr. Allbritton remains chairman and chief
executive officer of Riggs National Corporation and
chairman of the board of The Riggs National Bank of
Washington.
"Fred Bollerer has had an exemplary 27-year career
in banking, entailing six years in the Washington market
and a breadth of experience that includes management of a
representative office in Argentina," said Mr. Allbritton.
"He joined Riggs at a decisive moment in our history and
has demonstrated both the skills to manage a bank and the
leadership qualities needed to guide this organization
forward as the supercommunity bank for this area."
The Ohio native earned his B.B.A. degree from Ohio
University and his bachelor's of foreign trade from the
American Graduate School of International Management. He
serves in leadership positions with a variety of
community organizations, including the Greater Washington
Board of Trade and the Washington Airports Task Force.
Riggs also announced that Robert L. Sloan, chief
executive officer of Sibley Memorial Hospital, has been
elected vice chairman of the board of both Riggs National
Corporation and The Riggs National Bank of Washington,
D.C. He has served on the bank's board since 1990 and
the parent Riggs board since 1993.
Separately, the board of directors of Riggs National
Corporation declared the following dividends:
(more)
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On the company's 7.5% Cumulative Convertible
Preferred Stock, Series A, a regular quarterly dividend
of $.46875 per share, payable August 1, 1994, to holders
of record July 31.
And on the company's 10.75% Noncumulative Perpetual
Preferred Stock, Series B, a regular quarterly dividend
of $.671875 per share, payable August 1, 1994, to holders
of record July 18.
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
