First quarter net income at New Jersey-based Investors Bancorp, the holding company for Investors Savings Bank – which operates four branches in Fall River, New Bedford and Ludlow – rose more than 36 percent year-over-year to $18.2 million.

The earnings growth was largely attributed to a $10.6 million, or 10.3 percent, increase in total interest and dividend income in the quarter, to $113.7 million from $103.1 million last year, according to a statement. Net loans increased $234 million over the prior quarter, or 3 percent, to $8.15 billion as of March 31, from $7.92 billion on Dec. 31.

The company’s provision for loan losses stood at $17 million at the end of the first quarter, up more than 29.7 percent compared to $13.1 million for the three months ended March 31, 2010.