LA CROSSE, Wis. - First Federal Capital Corp., the parent of First Federal Savings Bank, said it earned $1.87 million in the first quarter, down 30% from a year earlier.

The company said earnings were affected by lower-than-expected gains from the sale of loans that amounted to $140,000, down from $1.6 million.

It attributed the reduction to customer preferences for adjustable loans, which are held in the company's portfolio rather than sold in the secondary market.

Net interest income for the quarter was $8.22 million, up from $7.44 million.

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