In Brief: First Virginia Banks Earnings Up 7%

FALLS CHURCH, Va. — First Virginia Banks Inc.’s second-quarter earnings climbed to 73 cents a share, up 7% from the 68 cents a share it earned in the same quarter a year ago.

The company generated $34.5 million of net income, compared to $34.2 million in the same quarter last year. The company said its return on average assets increased to 1.46%, compared to 1.44% in the prior year’s second quarter, and the return on the average shareholder’s equity rose to 13.99%, from 13.29%.