Westfield Financial, Inc. (WFD: Quote), the holding company for Westfield Bank , on Wednesday reported fourth quarter net income of $1.6 million or $0.07 per share, compared to $1.5 million or $0.06 per share in the comparable quarter last year.
Total interest and dividend income for the quarter was $7.6 million, compared to $7.5 million a year ago, while total non-interest income for the quarter rose to $1.4 million from $1.1 million a year ago.
On average, five analysts polled by Thomson Reuters expected earnings of $0.05 per share. Three analysts expected interest and dividend income of $7.92 million for the quarter. Analysts’ estimates typically exclude special items.
There was no provision for loan losses for the fourth quarter 2012, compared to $677,000 for the fourth quarter 2011.
James C. Hagan, Chief Executive Officer stated, “On January 29, 2013, the Board of Directors approved the declaration of a regular cash dividend of $0.06 per share payable on February 20, 2013, to all shareholders of record on February 6, 2013.”
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by RTT Staff Writer
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