BSB Bancorp doubled its profits last year, buoyed by rebounding development, a strong housing market and double-digit loan growth.

“If I could put 2014 in a bottle and let it leak out slowly through 2015, I would,” said President and CEO Robert M. Mahoney.

Net income totaled $1.4 million for the quarter and $4.3 million for the year ended Dec. 31, 2014, compared with $645,000 and $2 million, respectively, for the same periods in 2013.

Net interest and dividend income, before accounting for provision for loan losses, totaled $8.5 million in the fourth quarter, over $7.6 million in the year-ago period. For the year, that figure totaled $31.6 million, compared with $26 million in 2013. The provision for loan losses was $565,000 in the fourth quarter and $1.6 million for the year, compared with $632,000 and $1.5 million, respectively, in 2013.

Noninterest income in the fourth quarter increased $118,000, or 14.7 percent, to $920,000, driven largely by $102,000 in net gains on sales of loans and $85,000 in income from bank-owned life insurance. Those increases were offset by a $70,000 drop in loan servicing fees.

BSB increased its total assets 35.2 percent to $1.4 billion at year-end 2014. Net loans increased 40.6 percent, or $340.4 million. Residential one-to-four family loans, commercial real estate loans, home equity lines of credit and indirect auto loans increased by $162.9 million, $86.9 million, $39.2 million and $32.2 million, respectively.

On the deposit side, Mahoney said his bank grew business by focusing on some specific segments, like real estate developers and the municipal market, to grow commercial deposits, and he credited the bank’s three supermarket branches with helping to grow retail deposits.

At the year’s end, deposits totaled $984.6 million, representing an increase of 28.7 percent, or $219.8 million, from the previous year.

Mahoney also touted the company’s expense control in 2014, saying that BSB was able to slow down its rapid expense growth associated with opening new branches in years past. In 2014, noninterest expenses increased $1.4 million, or 5.6 percent, to $26.5 million for the entire year, mainly due to increases in salaries and employee benefits.

Total stockholders’ equity increased $6.6 million to $137 million at year-end 2013, largely the result of $4.3 million in earnings and a $2 million increase in additional paid-in capital related to stock-based compensation.

The company’s allowance for loan losses totaled $8.9 million at year-end 2014, amounting to 0.75 percent of total loans. That compares with $8 million and 0.95 percent, respectively, for 2013. For the quarter and year ended Dec. 31, the company recorded net charge-offs of $3,000 and $628,000, respectively, compared with recoveries of $1,000 and $21,000, respectively, during the same periods in 2013.