SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q/A
(10-Q Amended to Include Financial Data Schedule)
(Mark One)
/ x / Quarterly Report Pursuant to Section 13 or 15(D) of the Securities
Exchange Act of 1934
FOR QUARTER ENDED September 30, 1996
or
/ / Transition Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Transition Period From: To:
Commission File Number: 0-19398
VIRGINIA BEACH FEDERAL FINANCIAL CORPORATION
(Exact name of Registrant as Specified in its Charter)
Virginia
(State of incorporation)
IRS Employer ID No.: 54-1534067
2101 Parks Avenue, Virginia Beach, Virginia 23451
(Address of principal executive offices)
(804) 428-9331
(Registrant's telephone number, including area code)
Former Name, Former Address and Former Fiscal Year, If Changed Since Last
Report: N/A
Indicate by check mark whether the registrant (1) has filed all documents
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
YES x NO
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date October 31, 1996:
4,968,159
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.
VIRGINIA BEACH FEDERAL FINANCIAL CORPORATION
Date: November 14, 1996 \s\ John A. B. Davies, Jr.
------------------------- --------------------------
John A. B. Davies, Jr.
President/Chief Executive Officer
Date: November 14, 1996 \s\ Dennis R. Stewart
------------------------- --------------------------
Dennis R. Stewart
Executive Vice President/
Chief Financial Officer
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<ARTICLE> 9
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1996
<CASH> 10,332
<INT-BEARING-DEPOSITS> 1,153
<FED-FUNDS-SOLD> 0
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 96,254
<INVESTMENTS-CARRYING> 95,639
<INVESTMENTS-MARKET> 95,639
<LOANS> 440,000
<ALLOWANCE> 4,389
<TOTAL-ASSETS> 604,060
<DEPOSITS> 432,840
<SHORT-TERM> 119,099
<LIABILITIES-OTHER> 12,241
<LONG-TERM> 0
0
0
<COMMON> 50
<OTHER-SE> 39,828
<TOTAL-LIABILITIES-AND-EQUITY> 604,060
<INTEREST-LOAN> 28,024
<INTEREST-INVEST> 6,359
<INTEREST-OTHER> 2,016
<INTEREST-TOTAL> 36,399
<INTEREST-DEPOSIT> 18,366
<INTEREST-EXPENSE> 24,072
<INTEREST-INCOME-NET> 12,327
<LOAN-LOSSES> 150
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 3,132
<INCOME-PRETAX> (290)
<INCOME-PRE-EXTRAORDINARY> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (191)
<EPS-PRIMARY> (0.04)
<EPS-DILUTED> (0.04)
<YIELD-ACTUAL> 8.03
<LOANS-NON> 3,674
<LOANS-PAST> 0
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 3,968
<CHARGE-OFFS> 47
<RECOVERIES> 318
<ALLOWANCE-CLOSE> 4,389
<ALLOWANCE-DOMESTIC> 0
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<ALLOWANCE-UNALLOCATED> 4,054
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