American Security Bank has named Linwood Holton Jr., governor of Virginia from 1970 to 1974 and currently vice president for the American Council on Life Insurance, to the board of directors of its institutional investment management company, ASB Capital Management. In addition, Lawrence Pendleton III has been elected senior vice president of American Security's real estate division.

The Student Loan Marketing Association has announced recent promotions: Ronald F. Hunt, Oliver R. Sockwell and Lawrence A. Hough have been appointed executive vice presidents. Albert L. Lord, senior vice president and controller, has been given the additional responsibilities of chief financial officer. Dennis A. Kernahan, Michael A. Wyatt and Gerald Cohen have been promoted to senior vice presidents. And, Ann Marie Plubell, David A. Purkerson, Paula B. Reeder, Elizabeth A. Van Houten and Jeffrey W. Salinger have been named executive officers.

Sovran Bank has announced the appointment of five officers in Northern Virginia: Timothy S. Flannegin, vice president; Eileen M. St. Louis, assistant vice president; Edna T. Brannan, credit review officer, and William T. Fanscher and Cynthia Morgan-Chalfant, retail banking officers.

D.C. National Bank has elected Joseph B. Head to senior vice president in charge of credit administration and corporate communications. In addition, Alan M. Hooker has joined the bank as vice president in the commercial banking division.

First Virginia Banks Inc. has promoted John D. Yaremchuk, previously a branch manager, to vice president and manager of the bank's offices in Arlington and Falls Church.