CHARLESTON, W. Va. - One Valley Bancorp earned a record $46.2 million in 1994, a 29% increase.

Per-share income rose for the eighth consecutive year, hitting $2.70.

In the fourth quarter, net income leaped by 50% to $11.5 million. Returns on assets and equity were 1.31% and 14.64%, respectively. Bank officials attributed the improvements in part to a higher level of noninterest expenses the previous year due to shutting down an internal data processing system and a merger with Mountaineer Bancshares.

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