Cape Cod Five Cents Savings Bank turned a $9.5 million profit in the first nine months of the year, up slightly from $9 million in the same period a year ago.

Total assets increased to $2.1 billion, an increase of $101.7 million, or 5.1 percent, from a year ago. The bank said deposits grew by $91.8 million increase in the period.

The bank also reported a $2.2 million increase in operating expenses and a $199,000 decrease in non-interest income, which was partially offset by a $1.4 million increase in net interest income and a $2 million decrease in loan loss provisions.

Net loans were $1.5 billion, an increase of $91 million over the first nine months of 2010. The bank’s commercial and industrial loan portfolio increased to $440 million from $397 million the prior year. The residential mortgage portfolio increased $47.9 million, closing $416 million in business, according to a statement.

Dorothy Savarese, the bank’s president and CEO, said the bank remains concerned about international economic stability.

"We probably face a long slog through this recovery," she said in a statement.

Note to readers: This article has been changed from an earlier version to correct an inaccuracy in the fourth paragraph. Earlier versions incorrectly stated that Cape Cod Five’s residential mortgage portfolio rose to $416 million. The bank actually closed $416 million. The version above is correct, and we apologize for the error.