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) March 11, 1998
ONE VALLEY BANCORP, INC.
(Exact name of registrant as specified in its charter)
West Virginia 0-10042 55-0609408
(State or other jurisdiction Commission (I.R.S. Employer
of incorporation or organization) File Number) Identification No.)
One Valley Square, Charleston, West Virginia 25326
(Address of principal executive offices)
(Zip Code)
(304) 348-7000
(Registrant's telephone number, including area code)
Not applicable
(Former name, address, and fiscal year, if changed since last report)
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One Valley Bancorp, Inc.
Item 5. Other Events
On March 11, 1998, One Valley Bancorp, Inc. and FFVA Financial Corporation,
headquartered in Lynchburg, Virginia, jointly announced that it is now
anticipated that the closing of the transaction for One Valley to acquire FFVA
Financial will occur on March 30, 1998. The closing had originally been
planned for early in the second quarter of this year.
The announcement of the new closing date was made by J. Holmes Morrison,
President and Chief Executive Officer of One Valley, and James L. Davidson,
Jr., President and Chief Executive Officer of FFVA Financial Corporation.
The transaction has received all requisite approval by regulatory authorities
and the stockholders of FFVA Financial and One Valley.
Pursuant to the agreement, each share of FFVA Financial common stock
outstanding will be converted into 1.05 shares of One Valley common stock.
This transaction will be accounted for as a pooling of interests.
One Valley, with headquarters in Charleston, West Virginia is the largest bank
holding company based in West Virginia with $4.9 billion in total assets. One
Valley operates as a super community bank with 11 affiliate banks and 103
locations - 78 in West Virginia and 25 in Virginia. Following the merger with
FFVA Financial, which had $580 million in total assets on December 31, 1997,
One Valley Bancorp will be a $5.5 billion asset company with 115 locations.
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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 thereunto duly authorized.
One Valley Bancorp, Inc.
DATE March 11, 1998
BY /s/ Laurance G. Jones
Laurance G. Jones
(Executive Vice President &
Chief Financial Officer)
