Higher interest rates and a falloff in consumer loan demand took their toll on First Virginia Banks Inc., whose first-quarter earnings of $27.2 million slipped 4% from the $28.8 million reported in the year-ago quarter.

Earnings per share at First Virginia, which is based in Falls Church, came in 8 cents below Wall Street consensus estimates, though some analysts might not have adjusted their models to account for recent acquisitions.

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