WINCHESTER, Va. - F&M National Corp. raised earnings for the second quarter by 44%, to $3.37 million, from $2.34 million a year earlier.

Earnings per share rose to 32 cents, from 22 cents. Six-month income grew 30%, to $6.79 million or 64 cents per share, from $5.2 million (50 cents).

The company, which owns eight banks in Virginia and West Virginia, reached $1 billion in assets during the second quarter. The return on average assets was 1.37% and return on average equity 14.46%.

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