EXHIBIT 99



                                     [LOGO]

Contact:                   James L. Davidson, Jr.         For Immediate Release
                           President
                           (804) 845-2371


                           FFVA Financial Corporation
              Regulatory Authorization of Stock Repurchase Program

         Lynchburg,  Virginia -- November 5, 1996 -- FFVA Financial Corporation,
the holding  company of First Federal  Savings Bank of Lynchburg,  has announced
that it has received regulatory authorization to repurchase up to 502,255 shares
of the Company's common stock. Mr. James L. Davidson,  Jr., President,  said the
Company had previously  been  authorized by its Board of Directors to repurchase
up to 10% of its  5,022,552  outstanding  shares  of  common  stock but had been
awaiting  regulatory  authorization  to initiate the  repurchase  program.  This
repurchase program follows the repurchase of approximately  300,000 shares (on a
post split basis) of the Company's  common stock during the first year following
the conversion and approximately 984,000 shares during the second year following
conversion.

         The repurchases  will be made in open-market  transactions,  subject to
the availability of stock,  market  conditions,  the trading price of the stock,
and the Company's  financial  performance.  Repurchased shares will be cancelled
and retired.

         First Federal Savings Bank of Lynchburg is  headquartered in Lynchburg,
Virginia  and operates  through its main office and eleven  branch  offices.  At
September  30, 1996,  the Company had total assets and  stockholders'  equity of
$530.1  million and $78.7 million  respectively.  The Company's  common stock is
listed on the Nasdaq National Market under the symbol "FFFC."

                                 (804) 845-2371
                                 925 Main Street
                            Lynchburg, Virginia 24505