SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.  20549


                                       ____________


                                         FORM 8-K



                                      CURRENT REPORT
                          PURSUANT TO SECTION 13 OR 15(d) OF THE
                             SECURITIES EXCHANGE ACT OF 1934
             Date of Report (Date of earliest event reported)  October 30, 1997



                                  One Valley Bancorp, Inc.
                  (Exact name of registrant as specified in its charter) 





         West Virginia             0-10042            55-0609408    
 (State or other jurisdiction    (Commission       (I.R.S. Employer     
       of incorporation)         File Number)     Identification No.)    




                     One Valley Square, Charleston, West Virginia   25326
                          (Address of principal executive offices)
                                          (Zip Code)




                                        (304) 348-7000
                     (Registrant's telephone number, including area code)



                                        Not applicable                
           (Former name, address, and fiscal year, if changed since last report)



One Valley Bancorp, Inc.

Item 5.   Other Events

On October 30, 1997, One Valley Bancorp, Inc. of Charleston, West Virginia, 
announced an agreement to purchase 16 Central Fidelity and Jefferson National 
branches in Virginia. The agreement includes 6 Central Fidelity branches and 
10 Jefferson National branches.  Central Fidelity National Bank, Jefferson 
National Bank and Wachovia Corporation entered into the agreement in 
anticipation that their mergers will be completed as expected.

The agreement includes 7 offices in Charlottesville, 2 in Emporia and 1 each 
in Buchanan, Culpeper, Cumberland, Dumfries, Lovingston, Purcellville and 
Scottsville. The sale includes the divestiture of branches as required by 
Federal regulators to avoid market concentrations in loans and deposits that 
would result from Central Fidelity's and Jefferson National's pending mergers 
with Wachovia. 

The transaction is expected to be completed in February 1998, subject to 
approval by the appropriate regulatory authorities, and will include the 
facilities and associated loan and deposit accounts.  The acquisition of the 
branches will add $321 million in assets to One Valley's total.  Total 
deposits of the new branches are approximately $319 million and total loans 
are $142 million.

Under the terms of the purchase agreement, One Valley will assume the deposits 
of the branches and will acquire the loans of the branch offices and certain 
additional commercial loans.  The total consideration to be paid is 
anticipated to be approximately $42.0 million and will be finally determined 
at closing based upon the total deposits assumed plus the seller's net book 
value of the branch offices and equipment.

One Valley will offer positions to all Central Fidelity and Jefferson National 
employees in the affected branches following completion of the sale.

J. Holmes Morrison, President & CEO of One Valley said, "The purchase of these 
branches represents a unique opportunity for One Valley to continue to expand 
its presence and commitment to the Virginia market. This purchase will 
increase our Virginia presence from 10 branches to 26 branches with total 
assets of $692 million. We look forward to building strong new community 
partnerships and providing our new customers with sound financial solutions, 
personal service and banking convenience."

In May 1996, One Valley first entered Virginia with the acquisition of CSB 
Financial. The purchase included 9 branches in the greater Lynchburg area and 
1 in Danville. "The integration of CSB into One Valley went extremely well," 
said Morrison. "That acquisition added great value to our franchise and I 
anticipate that the new branches we are purchasing from Central Fidelity and 
Jefferson National will do the same."

One Valley Bancorp is a bank holding company with $4.5 billion in assets. One 
Valley operates as a super community bank with 12 affiliate banks and 89 
locations serving West Virginia and Virginia. One Valley was recently ranked 
the 8th best performing bank in the country according to the May 1997 U.S. 
Banker magazine's ranking of the largest 100 banks.


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the 
Registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.


                                        One Valley Bancorp, Inc.


DATE     November 14, 1997

                                        BY /s/ Laurance G. Jones               
                                                  Laurance G. Jones
                                                  Executive Vice President &
                                                    Chief Financial Officer