Enfield lender New England Bancshares Inc. said higher net-interest income and a smaller setaside for bad loans led it to post a 7 percent increase in fiscal third-quarter earnings.
The parent of New England Bank earned $910,000, or 15 cents a share, in the three months ended Dec. 31, up from $856,000, or 14 cents a share, earned the same period in 2009.
President and CEO David J. O’Connor said that, in addition to improvement in the bank’s core earnings, it noticed a pickup in demand for commercial loans in the quarter.
“The economy has begun to show signs of improving,” O’Connor said.
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New England Bank has 15 branches in central Connecticut.
