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) August 22, 1996



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



           Virginia                       0-24674               54-1721629
- ----------------------------      ------------------------   ------------------
(State or Other Jurisdiction      (Commission File Number)   (IRS Employer No.)
     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 (540) 343-0135
                                                          --------------





Item 5. Other Events

      On August 22, 1996, the registrant declared a semi-annual cash dividend of
$0.15 per common share of stock  payable to holders of record as of September 9,
1996. The dividend is payable on September 30, 1996.

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

      (c)  Exhibits.

            99    Press release related to dividend declaration.








                                  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: August 26, 1996                     By  /s/B.L. Rakes
                                             --------------
                                              B.L. Rakes, President
                                              (Duly authorized representative)