Brookline Bancorp, parent company of Brookline Bank, has reported net income of $4.7 million for the quarter ended Dec. 31, compared to $3.7 million for the same period a year ago, a 27 percent increase.

The increase in net income was due primarily to improvement in interest rate spread and lower income tax expense, offset in part by a higher provision for credit losses and higher non-interest expenses, the company said.

Net income for the year ended Dec. 31 was $12.9 million, compared to $17.7 million for the same period a year prior, a 27 percent drop.

The company also announced a regular quarterly dividend of [Article].085 per share and an extra dividend of [Article].20 per share, payable Feb. 25 to stockholders of record on Feb. 5.