Moving to stabilize the management of the troubled National Bank of Washington, the directors of the bank's corporate parent yesterday named two veteran Washington bankers as chairman and president.

John J. Mason and Michael F. Ryan, former executives of National Savings & Trust Co., now Crestar Financial Corp., will work to restore public confidence in NBW and to refinance the bank's cash-strapped parent firm, Washington Bancorporation, the bank announced yesterday.

Mason replaces interim chairman John M. Toups, a non-banker who took the position temporarily in February following the resignation of Luther H. Hodges Jr. Toups will continue as a director of WBC.

The election of Mason and Ryan, who worked together as chairman and president of NS&T in the mid-1980s, was met with enthusiasm from the local business community. With the announcement, the company's stock price jumped $1 a share to $4.75, the first such rebound since the company defaulted on its debt on May 7.

"This is very good news for the banking community," said James Rogers, former president of American Security Bank and now with Georgetown-based banking consultants BEI-Golembe. "Mike {Ryan} has a very broad background in banking. ... John Mason is a very bright, very inventive person."

Mason, an investor and real estate developer, became chairman of NS&T in 1984 after purchasing the largest stake in the company. Ryan, an executive at American Security Bank for about 15 years, joined NS&T as president and chief operating officer.

The two left the bank after NS&T merged with United Virginia Bankshares Inc. in 1985 and became Crestar. Since then, they have been business partners in Mason's real estate investment firm, Mason & Co. Since leaving NS&T, however, the two have made it known in local banking circles that they would like to return to Washington's banking arena.

"This is no surprise at all," said one banking executive. "They've been looking to get back in the business for years. This is the perfect opportunity."

Mason first disclosed his interest in WBC at the beginning of May when he said that he had purchased a 6.4 percent stake in the company. In recent weeks, he has acted as Toups's top adviser on resolving the bank company's financial troubles.