The Carter administration drew both praise and venom today at the annual stock-holders meeting of the First Virginia Bankshares Corp.
Almost 400 stockholders showed up at the meeting of the Falls Church holding company, held at the Roanoke Civic Center.
Ralph A. Beeton, corporation chairman and president, told the stock-holders he was pleased the President's financial policies had turned out to be more conservative than last year's campaign indicated.
However, Beeton was less complimentary when asked about the President's energy proposals.
He specifically criticized the President's plan to cut down on fuel consumption by raising gasoline taxes.
Also at today's meeting , corporation officials noted that at the end of 1976 First Virginia member banks for the first time exceeded $1 billion in total deposits. Beeton added that the billion dollar amount had been maintained through the first quarter.
Profits for First VIrginia, not counting securities gains or losses, rose 6 per cent in the first quarter to $2.13 million (20 cents a share) from $2 million (19 cents) in the same period last year. Counting securities transaction, net income was $2.23 million (22 cents) vs. $2.04 million (19 cents).
Loan volume throughout the state was $1.02 billion on March 31, a gain of 8 per cent in thepast year. Installments loans - mainly for autos and other consumer goods - jumped 21 per cent. Beeton said the March installment loan volume was higher than any month in recent years.