EARNINGS : B of A Net Rises 1.4%, but Home Savings’ Drops 15% : Banks: The results are in contrast to those of BankAmerica’s three main rivals in the state.

Despite a sharp rise in problem real estate loans, BankAmerica Corp. on Thursday reported a 1.4% increase in first-quarter profit. Separately, H. F. Ahmanson, the Los Angeles-based parent of Home Savings of America, posted a 15% fall in first-quarter earnings.

BankAmerica’s profit rise, to $282 million from $278 million a year earlier, was in contrast to earnings declines posted earlier this week by its three major California rivals--Security Pacific Corp., Wells Fargo & Co. and First Interstate Bancorp. However, the San Francisco-based parent of Bank of America said its loan portfolio is feeling the effects of the slowing economy.

BankAmerica said its problem commercial and construction real estate loans have risen 34% to $740 million since Dec. 31. Problem corporate buyout loans have risen 84% to $257 million since the end of last year.

However, BankAmerica’s non-accrual assets--mostly loans 90 days or more past due or where payment is in doubt--were virtually unchanged from Dec. 31, largely because of reduced problem foreign loans. Its non-interest expenses rose to $1.03 million from $967 million, mainly because of costs it is incurring as it buys failed thrifts through the West.

BankAmerica, in part because of its financial strength, is a leading contender to buy the failed Bank of New England. During the quarter, it increased its capital by more than $680 million through several offerings of stocks and bonds. With assets of $111.9 billion, BankAmerica is the nation’s second-largest banking firm behind New York’s Citicorp.

BankAmerica’s stock closed off 87.5 cents per share at $38.625 in New York Stock Exchange trading Thursday.

H. F. Ahmanson said its earnings fell to $55.8 million from $66 million a year earlier as it set aside $42.4 million for possible loan losses and $18 million for possible losses on real estate development.

Ahmanson’s results included $46 million in other income, mainly from loan sales. It attributed the lower results in part to the sluggishness of the economy.

Ahmanson stock fell $1.25 to $16.875.