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

DATE: FRIDAY, August 19, 1994                   TAG: 9408190075
SECTION: BUSINESS                    PAGE: A7   EDITION: METRO 
SOURCE: Associated Press
DATELINE: RICHMOND                                 LENGTH: Medium

CENTRAL FIDELITY CHAIRMAN DIES

Saine, who was diagnosed in February with lung cancer, died of ``natural causes,'' said bank spokeswoman Susan Mistr.

Saine was in Northern Virginia on Wednesday night to attend an employee function, Mistr said. He died Thursday morning in Northern Virginia, but Mistr was unable to say where.

Despite his illness, Saine had continued to work full-time for the Richmond-based banking company. He began outpatient chemotherapy last winter after doctors found a lung tumor.

Lewis Miller Jr., Central Fidelity's president and co-CEO, will continue to oversee the bank's operations.

Central Fidelity has branches in 72 Virginia communities. The bank earned $29.6 million in the quarter that ended June 30, up 12.4 percent from the same quarter last year. At the end of the second quarter, Central Fidelity had assets of $9.6 billion and deposits of $6.7 million.

Saine started his Central Fidelity career as a branch teller in Richmond.

In a 1991 interview, Saine described himself and Central Fidelity as conservative, prudent and extremely cost-conscious. He also dubbed himself the bank's ``head cheerleader,'' and periodically wrote letters that were distributed to the company's employees.

Analysts credited Saine with steering Central Fidelity through the worst of the recession of the late 1980s with an austerity program that included layoffs, operating-cost cutbacks, investing in government securities and restrictions on commercial lending.

Saine is survived by his family in Richmond, Mistr said. Funeral arrangements were incomplete Thursday.