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): June 3, 1996
FFVA FINANCIAL CORPORATION
(exact name of registrant as specified in its charter)
Virginia 0-24468 74-2712490
(state or other jurisdiction (SEC File No.) (IRS Employer Identification Number)
of incorporation)
925 Main Street, Lynchburg, Virginia 24504
(address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (804) 845-2371
Not Applicable
(Former name or former address, if changed since last Report)
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FFVA FINANCIAL CORPORATION
INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The registrant announced that it had received the necessary approvals from
the Office of Thrift Supervision ("OTS") to implement a 10% stock repurchase
program. The registrant intends to repurchase such shares of its Common Stock in
open market transactions from time to time depending upon stock availability.
For further details, reference is made to the Press Release dated
June 3, 1996, which is attached hereto as Exhibit 99 and incorporated herein
by this reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
Exhibit 99 -- Press Release dated June 3, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report to be signed on its behalf by the
undersigned, hereunto duly authorized.
FFVA FINANCIAL CORPORATION
Date: June 6, 1996 By: /s/ Ronald W. Neblett
Ronald W. Neblett
Chief Financial Officer
PRESS RELEASE
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[FFVA Financial Corporation Letterhead]
PRESS RELEASE
June 3, 1996 Contact: James L. Davidson, Jr.
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For Immediate Release President & CEO
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(804) 845-2371
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Lynchburg, Virginia -- June 3, 1996 -- FFVA Financial Corporation (NASDAQ -
FFFC), the holding company of First Federal Savings Bank of Lynchburg, has
announced its intention to repurchase up to 10% of the Company's outstanding
shares of common stock. Mr. James L. Davidson, Jr., President, said the Company
has been authorized by its Board of Directors to initiate the repurchase
program. He further stated that the Company's request to repurchase the shares
had been approved by the Office of Thrift Supervision.
The Company plans to repurchase shares of its common stock in open-market
transactions, subject to availability of stock. Such repurchased shares will be
retired.
The Company completed its offering of common stock in connection with the
conversion of First Federal Savings Bank of Lynchburg from a federally chartered
mutual savings bank to a federally chartered stock savings bank on October 12,
1994. Three similar repurchase programs have been completed, resulting in the
retirement of approximately 14% of the shares of common stock originally issued.
(804) 845-2371
925 Main Street
Lynchburg, Virginia 24505
