THE VIRGINIAN-PILOT 

                         THE VIRGINIAN-PILOT
                 Copyright (c) 1994, Landmark Communications, Inc.

DATE: TUESDAY, June 21, 1994                    TAG: 9406210446 
SECTION: BUSINESS                     PAGE: D1    EDITION: FINAL  
SOURCE: Short 
DATELINE: 940621                                 LENGTH:

BANKERS GROUPS MERGE

{LEAD} Once a critic of savings and loan associations, the Virginia Bankers Association said Monday that its members have approved a plan to absorb the Virginia League of Savings Institutions. In a separate meeting Monday, members of the Virginia League also voted in favor of the merger, said Walter C. Ayers, executive vice president of the Virginia Bankers Association. With the changes in banking laws and the banking market, ``there was a growing recognition'' that differences between the two types of institutions ``are not that great any more,'' Ayers said. The two organizations, he said, expect to complete their consolidation by yearend. The Virginia Bankers Association has 162 members, all commercial banks. The Virginia League of Savings Institutions has 36 members.

by CNB