Interest rate hikes hurt two Northeastern regional banks reporting first quarter results, while a third credited a decline in nonperforming assets and a more profitable loan mix for its 13% gain.

Newark, N.J.-based First Fidelity Bancorp. saw its earnings jump a modest 3.7% to $112.9 million, but its return on average equity was down 15 basis points due to slower-than-expected loan demand, according to its chairman and chief executive Anthony Terracciano.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.