Windham’s SI Financial, parent of Savings Institute Bank and Trust Co., said its fourth-quarter profits grew by a third to $1 million, due to higher interest income from loans.
The profits amounted to 8 cents per diluted share in the recent quarter and the final quarter a year ago.
For the year, SI lost $855,000, primarily because of $2.6 million in pre-tax costs related to its September merger with Rhode Island’s Newport Bancorp. That loss of 8 cents per share compared to profits of 1.1 million, or 11 cents per share, in 2012.
