
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, June 22, 1990                   TAG: 9006220174
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

INVESTORS SAVINGS DEAL CALLED OFF

Investors Savings Bank and Virginia Investment Trusts have called off an agreement that would have improved the thrift's capital position. Investors, which has a branch in Roanoke, said it is considering alternate strategies.

Under the agreement, announced March 28, Virginia Investment Trusts would have purchased from Investors up to $10 million of subordinated debentures and $77 million of non-performing real estate loans at a 10 percent discount. In return, Virginia Investment Trusts would have received warrants to buy nearly 4.5 million shares of Investors stock at $4.50 a share.

The agreement would have helped Investors meet risk-based capital standards imposed last December by federal regulators. - Staff report

by CNB