EXHIBIT 99

                                 Press Release







                                                                    Exhibit 99

                       [SWVA BANCSHARES, INC. LETTERHEAD]

                                 NEWS RELEASE

CONTACT:    B.L. Rakes, President & CEO
            Mary G. Staples, PFO
            (540) 343-0135

Date:       August 22, 1996

      SWVA  Bancshares,  Inc. is pleased to announce that the Board of Directors
of the  Company,  at a meeting of the Board of  Directors  on August  21,  1996,
declared a semi-annual dividend of $0.15 per share payable on September 30, 1996
to shareholders of record at the close of business on September 9, 1996.

      Southwest  Virginia  Savings Bank,  FSB is a federally  chartered  savings
bank,  the  deposits  of which are  insured  by the FDIC to the  fullest  extent
provided by law. The Bank is headquartered  in Roanoke,  Virginia and operates 5
full-service  banking  facilities  and a mortgage  organization  office  serving
Roanoke City, Roanoke County, Salem City  and  adjacent  counties.  The Bank has
served the community since 1927.

      The Bank exceeds all current  regulatory  capital ratio  requirements  and
continues to meet the "well capitalized" regulatory definition, the highest such
rating.

      SWVA  Bancshares,  Inc.,  Common stock shares are listed  over-the-counter
through the National Daily Quotation System "Pink Sheet".



302 Second Street, S.W.       Roanoke, Virginia  24011-1597     (703) 343-0135