Bank Holding Company In Virginia Gets Approval: Capital Commerce
up ** FcRera Board voted unanifoMisIy this week to approve a new registered bank holding company in Northern Virginia.</br></br>The new company, Northern Virginia Bankshares, Inc., will be headquartered at BaileyÛªs Crossroads, and will own 100 per cent of the stock in Hamilton Bank and Trust Co., of BaileyÛªs Crossroads, and First Manassas Bank and Trust Co., of Manassas.</br></br>Northern Virginia Bank-shares will be liie eighthÛÓ and smallestÛÓbank holding company in the state. On Dec. 31, Hamilton had deposits of $10.S million while First Manassas had deposits of $2.2 million.</br></br>First quarter earnings statements by five Maryland and Virginia bank companies yesterday reflected increased profitability.</br></br>Maryland National Corp. ÛÓwhose largest subsidiary is Maryland National Bank, largest in the D.C., Maryland, Virginia regionÛÓreported operating profits of $3.2 million (91 cents per share) compared to $2.97 million (83 cents) a year earlier. Net income after securities gains or losses was $3.57 million ($1.00 a share) compared to $3.37 million (95 cents).