Harwich Port-Cape Cod Five saw a 12 percent decline in its net income for the first quarter of 2013, but at the same time, saw an increase in loans, deposits and total assets.

Net income stood at $3.3 million for the quarter ended March 31, compared with $3.7 million for the same period last year. In a statement, the bank attributed the drop in net income to an increase in operating expenses related to additional investment in infrastructure, new technology, security measures and staff. 

Total assets, however, increased 7 percent to $2.3 billion, compared with $2.1 billion last year. Cape Cod Five also saw net loan growth to $1.8 billion, compared with $1.6 billion last year. Its residential mortgage portfolio increased $136.1 million, commercial real estate mortgages increased $29.4 million and commercial loans increased $16 million. 

"Loan growth is key since suppressed loan demand has been a hallmark of the spotty recovery," Dorothy Savarese, president and CEO, said in a statement. "Our ongoing ability to make more high quality loans bodes well for us as well as our communities and the local economies in which we are investing through our lending activities."

The bank also saw a 9 percent increase in deposits, to $2 billion from $1.8 billion last year.