Bank of New York: The financial institution...

Bank of New York: The financial institution said its net income in the first quarter increased 86% to $101.1 million. It said the higher earnings partly reflected savings from its merger with Irving Bank Corp., completed in December. Meanwhile, Chemical Banking Corp. reported that its first-quarter profit fell 6% to $117.9 million. The New York-based bank said substantially higher corporate finance fees, an increase in net interest income and a lower provision for loan losses were not sufficient to offset the $25.6-million gain on the sale of investment securities reported in last year’s first quarter.