WASHINGTON — Riggs Corp. said Wednesday that its second-quarter earnings fell 26%, to $4.2 million, from the year-ago period, and it faulted $3.7 million of losses in its venture capital unit.

“They reported an in-line quarter, which is another way of saying their performance was poor,” said Gary Townsend, a bank analyst at Friedman, Billings, Ramsey & Co. in Arlington, Va. Riggs officials were unavailable for comment.

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