Heritage Bankshares, Inc. Announces 7.39% Earnings Increase

Apr 24, 2001, 01:00 ET from Heritage Bankshares, Inc.

    NORFOLK, Va., April 24 /PRNewswire Interactive News Release/ -- Heritage
 Bankshares, Inc., the parent company of Heritage Bank & Trust in Norfolk,
 reports net income of $298 thousand or $.35 per share (dilutive) for the first
 quarter of 2001.  Net interest income grew 3% totaling $1 million for the
 quarter as net loans grew 7% to $71 million and investments increased 44% to
 $29 million.  Total shareholders' equity reached $9.8 million at March 31,
 2001, up 15% from 12 months earlier and representing 9% of the period-end
 assets of $108 million.
 
     Safe Harbor Statement
     This press release and certain information provided periodically in
 writing by the Company contains certain "forward-looking statements" as
 defined in the federal securities laws.  Forward-looking statements can be
 identified by the fact that they do not relate strictly to historical or
 current facts and include statements regarding intent, belief or current
 expectation of the Company, its directors and officers with respect to, among
 other things:  the current and long-term value of the Company, and the
 company's future performance.  Investors and prospective investors are
 cautioned that any such forward-looking statements are not guarantees of
 future performance and involve risks and uncertainties, and that actual
 results may differ materially from those projected in the forward-looking
 statement.
 
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SOURCE Heritage Bankshares, Inc.
    NORFOLK, Va., April 24 /PRNewswire Interactive News Release/ -- Heritage
 Bankshares, Inc., the parent company of Heritage Bank & Trust in Norfolk,
 reports net income of $298 thousand or $.35 per share (dilutive) for the first
 quarter of 2001.  Net interest income grew 3% totaling $1 million for the
 quarter as net loans grew 7% to $71 million and investments increased 44% to
 $29 million.  Total shareholders' equity reached $9.8 million at March 31,
 2001, up 15% from 12 months earlier and representing 9% of the period-end
 assets of $108 million.
 
     Safe Harbor Statement
     This press release and certain information provided periodically in
 writing by the Company contains certain "forward-looking statements" as
 defined in the federal securities laws.  Forward-looking statements can be
 identified by the fact that they do not relate strictly to historical or
 current facts and include statements regarding intent, belief or current
 expectation of the Company, its directors and officers with respect to, among
 other things:  the current and long-term value of the Company, and the
 company's future performance.  Investors and prospective investors are
 cautioned that any such forward-looking statements are not guarantees of
 future performance and involve risks and uncertainties, and that actual
 results may differ materially from those projected in the forward-looking
 statement.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X79269464
 
 SOURCE  Heritage Bankshares, Inc.