The first quarter earnings of Riggs National Bank and its wholly-owned subsidiary, Central Charge Service, Inc., for the period ended March 31, increased 19.5 per cent to $3,211,719 ($1.06 a share) compared with $2,688,173 (89 cents in the first quarter of 1976.
Deposits as of March 31 totaled $1,537.398,000, an increase of $179,568,000 or 13.2 per cent over the same period last year, according to a bank statement.
Metropolitan Federal Savings and Loan Association in Bethesda reported an 80 per cent jump in profits to $361,430 (90 cents a share) for the quarter ended March 31, compared with $200,291 in the first quarter of 1976.
The Ryalnd Group, Inc., a building firm based in Columbia, reported first quarter earnings of $823,000 (31 cents a share) compared with $735,000 (28 cents) in the first quarter of 1976. The company's new contracts totalled $33.3 million for the quarter, an increase of 33 per cent over the previous year.
Maryland Realty Trust, a real estate investment trust with headquaters in Rockville, announced profits for the quarter ended Feb. 28 of $25,232 (3 cents a share) compared with a loss last year of $233,187. Gross income for the quarter totaled $367,784 compared with $193,580 in the same period last year.
Smiths Transfer Corp. in Staunton reported lawer first quarter earnings of $1,428,618 (57 cents a share) compared with $1,511,025 (60 cents) in the first quarter of 1976. Revenues totaled $40,268,570 in the first quarter of 1977 compared with $36,099,782 the previous year.
The earnings include a gain on disposal of equipment of $227,319 (9 cents a share) in 1977 and $58,872 (2 cents) in 1976.