The Willimantic parent of Savings Institute Bank and Trust posted a lower first=quarter profit in connection with a charitable contribution.
SI Financial Group Inc. earned $209,000, or 2 cents a share, in the three months ended March 31, down from $493,000, or a nickel a share, earned the same period last year.
The holding company the income drop was primarily the result of a shareholder approved charitable contribution of $500,000 ($335,000 after tax) to SI Financial Group Foundation during the quarter.
SI Financial declared a cash common-stock dividend of 3 cents a share to be paid on or about May 27 to holders of record as of May 9.
