Newton’s First Commons Bank has reported a net loss of $2.25 million in the third quarter, slipping back into the red after the bank reported its first quarterly profit of $28,415 during the same period last year.

The bank’s assets have grown to more than $152 million during its ninth quarter of operations ended Sept.30, 2011. This reflects a 44 percent increase or more than $46 million versus the asset level of $105 million reported for the quarter ending Sept. 30, 2010. The bank began operations on July 22, 2009, and serves businesses and individuals in Newton, Wellesley, Waltham and Eastern Massachusetts.

"With more than 7,400 FDIC-insured banks in the U.S. filing reports for the quarter ended June 30, 2011, First Commons Bank’s assets have now surpassed those of more than 3,700 other banks, or more than 49 percent, after just nine quarters of operations," said Tony Nuzzo, chairman, president and CEO.

The bank reported net loans have grown to $105 million, compared to $50 million as of Sept. 30, 2010, representing an increase of 111 percent or $55 million. For the nine months ended Sept. 30, 2011, the provision for loan losses increased by approximately $800,000 versus one year ago. For the same period, the bank’s net interest margin increased by 58 percent to 3.1 percent, from 1.96 percent.