
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, October 12, 1994                   TAG: 9410120070
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: MAG POFF
DATELINE:                                 LENGTH: Short

FIRST VIRGINIA HAS EARNINGS DROP OF 3%

First Virginia Banks Inc. on Tuesday reported a 3 percent drop in earnings for the third quarter. The bank, based in Falls Church, said its income was $27.6 million or 85 cents a share, down from $28.5 million or 88 cents a share for last year's third quarter.

For the first nine months, earnings totaled $85.4 million or $2.63 a share, down 2 percent from $87 million or $2.68 a share last year.

Chairman Robert Zalokar said consumer demand for automobile financing has been extremely strong for the first nine months throughout the bank's market area.

Loans of $4.6 billion were up 15 percent from a year ago. Deposits increased 3 percent to $6.2 billion.

by CNB