Boston Private Financial Holdings (BPFH) has reported 13.19 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $15.66 million in the quarter, compared with $18.04 million for the same period last year.    

Revenue during the quarter went down marginally by 0.77 percent to $90.33 million from $91.03 million in the previous year period. Net interest income for the quarter rose 7.54 percent over the prior year period to $53.64 million. Non-interest income for the quarter fell 3.99 percent over the last year period to $36.51 million.

Boston Private Financial Holdings has made negative provision of $0.18 million for loan losses during the quarter, compared with a negative provision of $3.13 million in the same period last year.

Net interest margin contracted 2 basis points to 2.94 percent in the quarter from 2.96 percent in the last year period.

"We are encouraged by the Company's stronger growth to start 2017," said Clayton G. Deutsch, chief executive officer. "The Private Bank generated strong deposit and loan growth that translated into meaningful Net Interest Income growth and Net Interest Margin expansion, while our market-linked fee businesses all experienced AUM growth. We also front-loaded the year with stepped up business development hiring and technology investment. At the same time, we are focused on taking action to improve long-term earnings performance and increase shareholder value."

Investments stood at $1,354.63 million as on Mar. 31, 2017. Shareholders equity was at $781.90 million as on Mar. 31, 2017.

Return on assets moved down 20 basis points to 0.79 percent in the quarter from 0.99 percent in the last year period. At the same time, return on average equity decreased 158 basis points to 8.26 percent in the quarter from 9.84 percent in the last year period.