Total assets have increased by $46 million, or 23 percent, to $246.6 million over the 12-month period ended Sept. 30 at the Newton-headquartered First Commons Bank, and net loans increased by $52 million, or 31 percent, for the same period.

Total assets increased $38 million since Dec. 31, 2012. Net loans were up $38 million and deposits grew approximately $31 million over that time, as well. The bank is now in its 50th month of operation.

Net income totaled $768,000 for the nine-month period ended Sept. 30, down from the $2.8 million the bank recorded for the comparable period last year. The bank said its September 2012 results were favorably impacted by the recovery of a $2.5 million deferred tax asset, and excluding that tax recovery, net income for that period would have totaled $344,000.

Total interest income increased approximately $1.2 million for the nine months ended Sept. 30 over the same period last year, interest expense increased approximately $139,000, and noninterest operating expenses increased approximately $322,000.