Lakeville’s Salisbury Bancorp Inc. said its fourth quarter profits were cut in half as the community lender purged its books of some troubled loans.
The parent of  Salisbury Bank and Trust Co. said its net income for quarter ending Dec. 31 was $531 million, or 31 cents per common share, compared to $1.2 million, or 70 cents per common share a year earlier.
For all of 2012, the bank said its profits increased about 7.5 percent with a total net income of $3.9 million compared to $3.6 million in profits In 2011.
The fourth quarter results were impacted by several factors including a $193,000 loan charge-off and a $450,000 prepayment fee to the Federal Home Loan Bank of Boston.
