Metairie-based Louisiana Bancorp Inc., the holding company for Bank of New Orleans, reported fourth-quarter earnings of $638,000, or 24 cents per share, compared to $725,000, or 26 cents per share a year ago.

The company’s results were hampered by a drop in non-interest income of $448,000, as gains on the sale of residential mortgage loans fell. The bank made less money selling mortgage loans because fewer people refinanced as interest rates increased.

The mortgage loans results offset an increase in net interest income of $165,000 and a decrease in non-interest expense of $138,000.

For the year, Louisiana Bancorp reported earnings of $2.7 million, or $1.03 per share, compared to $2.5 million, or 90 cents per share, a year earlier.