Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, April 8, 1993 TAG: 9304080588
SECTION: BUSINESS PAGE: B10 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Crestar settles discrimination caseNORFOLK - Crestar Bank has agreed to pay $190,000 to as many as 50 minority job applicants who were not hired for part-time, entry-level teller positions, the U.S. Department of Labor said Wednesday.
The equal employment opportunity settlement calls for Crestar to offer jobs to as many as 50 of the rejected applicants until 20 are hired. Each applicant who is hired will receive $9,500 after six months of satisfactory service.
After a random compliance investigation that began in March 1992, the Labor Department alleged that Crestar's Norfolk-based Eastern region had been discriminating against minority applicants for part-time teller positions for two years. Crestar did not admit to any violation of federal employment laws. - Associated Press
\ Heilig-Meyers has dividend increase
Heilig-Meyers Co., a Richmond-based furniture retailer with stores in Western Virginia, on Wednesday declared an increase in its quarterly dividend from 6 cents to 7 cents per share. The higher dividend will be paid May 22 to shareholders on April 28. - Wire report
\ First Virginia earnings
First Virginia Banks Inc., Falls Church parent of First Virginia Bank-Southwest and Southwest Operations Center Inc. in Roanoke, on Wednesday reported first-quarter earnings reached a record $29.1 million, up 35 percent compared to year-earlier $21.5 million. The earnings amounts to 90 cents per share compared to 67 cents per share in the first quarter of 1992.
Net income for the first quarter represents a 1.74 percent return on average assets and an 18.85 percent return on stockholders' equity as compared to 1.39 percent and 15.73 percent, respectively, earned in the comparable period of 1992. These rates of return are the highest in the corporation's history.
Total assets at the end of the quarter were $6.84 billion, up 4 percent from the $6.56 billion reported in the previous year. Deposits totaled $6.01 billion, up 4 percent from the $5.78 billion a year earlier.
First Virginia reported nonperforming assets were $31.3 million, equal to 0.81 percent of outstanding loans. This was a decline from $35.2 million and 0.98 percent of loans in the comparable period of 1992. - Wire report