Boston Private Financial Holdings Inc. posted a fourth quarter net loss available to common shareholders of $10.3 million, compared with a net income of $28.3 million in the previous year.

On average, eight analysts polled by Thomson Reuters expected the company to report a loss of 3-cents per share. Analysts’ estimates typically exclude special items.

Total revenue for the quarter increased to $76.36 million, up from $83.42 million in the same quarter last year while analysts expected revenues of $52.08 million.

"Managing credit has been our top priority for the past several quarters, with a particular focus on Northern California," said CEO and President Clay Deutsch. "Working out our problem assets continues to be the primary factor influencing our results. Further degradation of previously criticized loans, primarily in the Northern California CRE portfolio, was the main driver of our elevated provision in the fourth quarter of 2010."

The board of directors declared a cash dividend to shareholders of 1-cent per share. The record date for this dividend is Feb. 14 and the payment date is Feb. 28.