UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                            (Amendment No._________)*


                           Riggs National Corporation
--------------------------------------------------------------------------------
                                (Name of Issuer)




                          Common Stock, $0.01 par value
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    766570105
--------------------------------------------------------------------------------
                                 (CUSIP Number)


                                December 31, 2004
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which the Schedule
is filed:

                  | |      Rule 13d-1(b)
                  |X|      Rule 13d-1(c)
                  | |      Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).







Persons who respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number.








CUSIP No.             766570105

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   1.      Names of Reporting Persons
           I.R.S. Identification Nos. of above persons (entities only).

           Green & Smith Investment Management L.L.C.
           13-3869675
---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   2.      Check the Appropriate Box if a Member of a Group (See Instructions)

           (a)

           (b) X
---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   3.      SEC Use Only


---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   4.      Citizenship or Place of Organization Delaware
---------- ---------------------------------------------------------------------
------------------------- --------- --------------------------------------------
                             5. Sole Voting Power None
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
       Number of             6.     Shared Voting Power        297,143 shares
  Shares Beneficially
Owned by Each Reporting
      Person with:
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
                             7. Sole Dispositive Power None
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
                             8. Shared Dispositive Power 297,143 shares
------------------------- --------- --------------------------------------------
----------- --------------------------------------------------------------------
   9.      Aggregate Amount Beneficially Owned by Each Reporting Person

            297,143 shares of common stock of the Issuer ("Shares") which
            consists of (i) 111,920 Shares beneficially owned by SPhinx Merger
            Arbitrage; (ii) 85,184 Shares beneficially owned by Hudson Valley
            Partners, L.P.; (iii) 29,439 Shares beneficially owned by The Merger
            Fund Ltd.; (iv) 66,250 Shares beneficially owned by Institutional
            Benchmarks Master Fund Limited; and (v) 4,350 Shares beneficially
            owned by MSS Merger Arbitrage 2, which Green & Smith Investment
            Management L.L.C. may be deemed to beneficially own by virtue of its
            position as investment adviser or general partner of each of the
            above private entities.


   10.     Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)

  11.      Percent of Class Represented by Amount in Row (9)    0.9%
----------- --------------------------------------------------------------------
----------- --------------------------------------------------------------------
   12.     Type of Reporting Person (See Instructions) IA
----------- --------------------------------------------------------------------







CUSIP No.             766570105                  
---------- ---------------------------------------------------------------------
   1.      Names of Reporting Persons
           I.R.S. Identification Nos. of above persons (entities only).

           Frederick W. Green
---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   2. Check the Appropriate Box if a Member of a Group (See Instructions)

           (a)

           (b) X
---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   3.      SEC Use Only


---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   4.      Citizenship or Place of Organization United States
---------- ---------------------------------------------------------------------
------------------------- --------- --------------------------------------------
                             5. Sole Voting Power None
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
       Number of             6.     Shared Voting Power        2,258,042 shares
  Shares Beneficially
Owned by Each Reporting
      Person with:
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
                             7. Sole Dispositive Power None
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
                             8. Shared Dispositive Power 2,258,042 shares
------------------------- --------- --------------------------------------------
----------- --------------------------------------------------------------------
   9.      Aggregate Amount Beneficially Owned by Each Reporting Person

            2,258,042 Shares which consist of (i) 1,960,899 Shares beneficially
            owned by The Merger Fund; (ii) 111,920 Shares beneficially owned by
            SPhinx Merger Arbitrage; (iii) 85,184 Shares beneficially owned by
            Hudson Valley Partners, L.P.; (iv) 29,439 Shares beneficially owned
            by The Merger Fund Ltd.; (v) 66,250 Shares beneficially owned by
            Institutional Benchmarks Master Fund Limited; and (vi) 4,350 Shares
            beneficially owned by MSS Merger Arbitrage 2, which Frederick W.
            Green may be deemed to benefincally own by virtue of his position as
            President of Westchester Capital Management, Inc., the investment
            adviser of The Merger Fund, or by virtue of his position as a member
            of Green & Smith Investment Management L.L.C., which is the
            investment adviser or general partner of each of the other private
            entities listed above.

   10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)

   11.     Percent of Class Represented by Amount in Row (9)    7.1%
----------- --------------------------------------------------------------------
----------- --------------------------------------------------------------------
   12.     Type of Reporting Person (See Instructions) IN
----------- --------------------------------------------------------------------







CUSIP No.             766570105                  
          ---------------------------------------

---------- ---------------------------------------------------------------------
   1.      Names of Reporting Persons
           I.R.S. Identification Nos. of above persons (entities only).

           Bonnie L. Smith
---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   2. Check the Appropriate Box if a Member of a Group (See Instructions)

           (a)

           (b) X
---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   3.      SEC Use Only


---------- ---------------------------------------------------------------------
---------- ---------------------------------------------------------------------
   4.      Citizenship or Place of Organization United States
---------- ---------------------------------------------------------------------
------------------------- --------- --------------------------------------------
                             5. Sole Voting Power None
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
       Number of             6.     Shared Voting Power        2,258,042 shares
  Shares Beneficially
Owned by Each Reporting
      Person with:
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
                             7. Sole Dispositive Power None
------------------------- --------- --------------------------------------------
------------------------- --------- --------------------------------------------
                             8. Shared Dispositive Power 2,258,042 shares
------------------------- --------- --------------------------------------------
----------- --------------------------------------------------------------------
   9.      Aggregate Amount Beneficially Owned by Each Reporting Person

            2,258,042 Shares which consist of (i) 1,960,899 Shares beneficially
            owned by The Merger Fund; (ii) 111,920 Shares beneficially owned by
            SPhinx Merger Arbitrage; (iii) 85,184 Shares beneficially owned by
            Hudson Valley Partners, L.P.; (iv) 29,439 Shares beneficially owned
            by The Merger Fund Ltd.; (v) 66,250 Shares beneficially owned by
            Institutional Benchmarks Master Fund Limited; and (vi) 4,350 Shares
            beneficially owned by MSS Merger Arbitrage 2, which Bonnie L. Smith
            may be deemed to benefincally own by virtue of her position as
            Vice-President of Westchester Capital Management, Inc., the
            investment adviser of The Merger Fund, or by virtue of her position
            as a member of Green & Smith Investment Management L.L.C., which is
            the investment adviser or general partner of each of the other
            private entities listed above.

   10.     Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
           Instructions)


   11.     Percent of Class Represented by Amount in Row (9)    7.1%
----------- --------------------------------------------------------------------
----------- --------------------------------------------------------------------
   12.     Type of Reporting Person (See Instructions) IN
----------- --------------------------------------------------------------------







Item 1.

         (a) Name of Issuer:

                           Riggs National Corporation

         (b) Address of Issuer's Principal Executive Offices:

                         1503 Pennsylvania Avenue, N.W.
                  Washington, D.C. 20005

Item 2.

         (a) Name of Person Filing:

                  (i) Green & Smith Investment Management L.L.C.

                  (ii) Frederick W. Green

                  (iii) Bonnie L. Smith

         (b) Address or Principal Business Office or, if none, Residence:

                  (i) 100 Summit Drive, Valhalla, NY 10595

                  (ii) 100 Summit Drive, Valhalla, NY 10595

                  (iii) 100 Summit Drive, Valhalla, NY 10595

         (c) Citizenship: See Item 4 of the cover pages attached hereto

         (d) Title of Class of Securities: Common Stock, $0.01 par value

         (e) CUSIP No.: 766570105

Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:

         (a) Green & Smith Investment Management L.L.C. is the general partner
         of Hudson Valley Partners, L.P. and is the investment adviser to The
         Merger Fund Ltd., SPhinx Merger Arbitrage, Institutional Benchmarks
         Master Fund Limited and MSS Merger Arbitrage 2.

         (b) Frederick W. Green is President of Westchester Capital Management,
         Inc., the investment adviser of The Merger Fund, and is a member of
         Green & Smith Investment Management L.L.C.

         (c) Bonnie L. Smith is Vice-President of Westchester Capital
         Management, Inc., the investment adviser of The Merger Fund, and is a
         member of Green & Smith Investment Management L.L.C.

Item 4.  Ownership.

         Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
         (a)      Amount Beneficially Owned and 

         (b)      Percent of Class: See Items 5 through 11 of the cover pages 
                  attached hereto.

                  This Schedule 13G shall not be construed as an admission that
                  the Reporting Persons, either for purposes of Section 13(d) or
                  13(g) of the Securities Exchange Act of 1934, as amended, or
                  for other purposes, are the beneficial owners of any
                  securities covered by this statement.

         (c)      See Items 5 through 8 of the cover pages attached hereto.




Item 5.  Ownership of 5 Percent or Less of a Class.

         Not applicable.

Item 6.  Ownership of More than 5 Percent on Behalf of Another Person.

         Not applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control Person.

         Not applicable.

Item 8.  Identification and Classification of Members of the Group.

         Not applicable.

Item 9.  Notice of Dissolution of Group.

         Not applicable.

Item 10.  Certification.

                  By signing below I certify that, to the best of my knowledge
                  and belief, the securities referred to above were acquired and
                  are held for the purpose of or with the effect of changing or
                  influencing the control of the issuer of the securities and
                  were not acquired and are not held in connection with or as a
                  participant in any transaction having that purpose or effect.







                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

February 10, 2005

                                      GREEN & SMITH INVESTMENT MANAGEMENT L.L.C.



                                      By:  /s/ Bonnie L. Smith
                                      -----------------------------
                                      Name: Bonnie L. Smith
                                      Title:  Senior Vice President



                                      /s/ Frederick W. Green
                                      -----------------------------
                                      Frederick W. Green




                                      /s/ Bonnie L. Smith 
                                      --------------------
                                      Bonnie L. Smith









                                                                       Exhibit A

                                    AGREEMENT

         The undersigned, Green & Smith Investment Management L.L.C., Frederick
W. Green and Bonnie L. Smith, agree that the statement to which this exhibit is
appended is filed on behalf of each of them.

February 10, 2005

                                      GREEN & SMITH INVESTMENT MANAGEMENT L.L.C.



                                      By:  /s/ Bonnie L. Smith
                                      -------------------------
                                      Name: Bonnie L. Smith
                                      Title:  Senior Vice President



                                      /s/ Frederick W. Green
                                      ------------------------
                                      Frederick W. Green




                                      /s/ Bonnie L. Smith 
                                      ---------------------
                                      Bonnie L. Smith