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 21, 1999
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) 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)
One Valley Bancorp, Inc.
Item 5. Other Events
On July 21, 1999, One Valley Bancorp, Inc., a West Virginia corporation
(the "Registrant"), issued the following press release:
ONE VALLEY BANCORP ANNOUNCES
SHARE REPURCHASE
President and Chief Executive Officer, J. Holmes Morrison, announced
today that One Valley Bancorp, Inc. (NYSE: OV) approved a plan authorizing
the repurchase of up to an aggregate of 1,500,000 shares of its common
stock. This is in addition to the 1,500,000 share repurchase announced in
February and completed in June.
Under this plan, shares may be purchased at various times. One Valley
has 33.4 million shares of common stock outstanding. The repurchase plan
represents a maximum of 4.5% of those issued and outstanding shares.
One Valley, a $6.3 billion bank holding company, has 9 affiliate banks
that operate 125 locations - 78 of which are in West Virginia and 47 in
Virginia.
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 July 21, 1999
BY /s/ Laurance G. Jones
Laurance G. Jones
(Executive Vice President &
Chief Financial Officer)
