The Cape Cod Five Cents Savings Bank has reported $12.6 million in net income for the year ended Dec. 31, a 52.7 percent increase from the $8.2 million reported a year earlier.

The 2010 net income allowed the bank’s capital to grow to $194.9 million, a $12.5 million or 6.9 percent increase compared to Dec. 31, 2009, according to a statement.

"There was success across all business lines. The bank continued in its commitment to serve its communities, making a total of $804 million in loans to consumers and businesses, growing its trust assets under management and maintaining its number one position in deposit market share in Barnstable County," said Dorothy A. Savarese, president and CEO. "The increase in customers and revenue made it possible for the bank to add 13 new job positions over the past year. In addition, between the bank and its charitable foundation, over $750,000 was donated to nonprofits on the Cape and Islands."

She added: "In a new initiative, the bank opened a representative office on Nantucket and secured regulatory approval to open a branch there. The bank, like individuals and other businesses, continues to adjust to a world with constrained economic growth and much more regulation. This is a time for the careful balancing of risk and growth. However our mission of providing responsible financial products to our customers, making a positive impact on our community, and carefully managing our risk profile remains unchanged."