North American Mortgage Co. appears to be rebounding from a downturn in loan production last year, but its stock price is taking a beating amid investors' worries about rising interest rates.

This week, the Santa Rosa, Calif.-based lender reported that a hefty increase in loan production boosted its first-quarter earnings to $7.5 million, up 32% from a year earlier. Yet its stock hit a 52-week low of $16.625 last Thursday.

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