Islandia-based Gold Coast Bank said Monday that its first-quarter net income rose 63 percent from a year earlier to $418,000 on an almost 30 percent increase in net interest income.

The six-branch bank said it earned 14 cents a share in three months ended March 31, up 55 percent from 9 cents a share a year earlier.

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Total assets at March 31 were $372 million, up 8 percent from a year earlier.

Net interest income, the difference between the revenue generated from a bank’s assets and the expenses associated with liabilities, rose from $2.3 million to $2.9 million.