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) July 25, 1996



                              SWVA Bancshares, Inc.
              (Exact Name of Registrant as Specified in Charter)



       Virginia                         0-24674                   54-1721629
    (State or Other             (Commission File Number)      (IRS Employer No.)
Jurisdiction of Incorporation


    302 Second Street, S.W., Roanoke, Virginia                24011-1597
     (Address of Principal Executive Offices)                 (Zip Code)



       Registrant's telephone number, including area code (703) 343-0135



Item 5. Other Events

      On July 25, 1996 and July 26, 1996,  respectively,  the registrant  issued
press releases regarding its earnings for the fourth quarter ended June 30, 1996
and regulatory  approval by the OTS of its Stock Repurchase Plan.  Copies of the
press releases are attached as Exhibit 99 hereto.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits

      (c)  Exhibits.

            99    Press releases related to earnings and regulatory approval for
                  Stock Repurchases.









                                  SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                          SWVA BANCSHARES, INC.



Date July 29, 1996                        By:  /s/B.L. Rakes
                                               B.L. Rakes
                                               President
                                               (Duly authorized representative)