IRVING BANK <V> 1ST-QTR NET HURT BY BRAZIL Irving Bank Corp said a six pct drop in first-quarter net income from a year earlier was largely the result of placing medium- and long-term loans to borrowers in Brazil and Ecuador on non-accrual status. Income in the first three months fell to 28.60 mln dlrs from 30.43 mln in the same 1986 period. Earnings per share dropped to 1.51 dlrs from 1.62. Irving put 215 mln dlrs of Brazilian and 33 mln dlrs of Ecuadorean loans on non-accrual, reducing first-quarter net income by a total of 4.4 mln dlrs after tax. Irving estimates full year net would be reduced by 15.3 mln dlrs after tax if no cash interest payments are received on these loans during the remainder of 1987. Also adversely affecting earnings were losses on the trading of securities and higher non-interest expenses, although these were partly offset by increased trust income, profits from foreign exchange trading and investment securities gains, the bank said. The allowance for loan losses was 224.8 mln dlrs, up from 185.2 mln a year earlier. The provision for loan losses was 21.8 mln versus 19.5 mln in the first quarter of 1986.