LAWRENCEVILLE, N.J. -- Anthony P. Terracciano's two-year acquisition binge has brought First Fidelity Bancorp. many riches: A dominant share of deposits in many of its markets, higher profits, and a reputation a savvy acquirer.

But Mr. Terracciano's spree of buying failed or troubled S&Ls has also given First Fidelity a thrift-like mix of fixed-rate assets and low-interest-bearing deposits that are sensitive to fluctuating interest rates.

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