Assets reported up for saleThe assets of First American...


January 26, 1993

Assets reported up for sale

The assets of First American Bankshares in Washington might be sold off piecemeal because the bank holds a large amount of troubled real estate loans, according to Liquidation Alert, a newsletter that closely follows sales of failed banks and thrifts. But a First American spokeswoman strongly objected to the report, calling it "false and misleading in several respects."

Noise analysis unit established

Noise Cancellation Technologies Inc. created a division targeting the heating, ventilation and air conditioning market. The unit, to be based in Stamford, Conn., will analyze noise and vibration reduction needs of manufacturers and design engineers. Noise Cancellation has its research and development operations in Linthicum.

Avemco expects normal income

Avemco Corp. Chief Financial Officer John Yuska said he expects the insurance company's income from operations in the fourth quarter to be in the range of analysts' estimates of 17 cents to 21 cents a share. Frederick-based Avemco, which earned 21 cents a share from operations in the fourth quarter of 1991, plans to report its 1992 fourth-quarter results Friday.

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