Chicopee Bancorp Inc., the holding company for Chicopee Savings Bank, has reported a net income of $183,000 for the third quarter ended Sept. 30, an increase of $1.6 million, or 113.1 percent, from the third quarter of 2009, according to a statement.

The bank attributed the jump to an increase in non-interest income of $1.3 million and an increase in net interest income of $435,000.

Net interest income for the third quarter increased $435,000, or 11.6 percent, to $4.2 million from $3.7 million for same time period last year, according to a statement. The net interest margin increased 33 basis points to 3.34 percent from 3.01 percent last year.

Chicopee Bancorp reported net income of $260,000 for the nine months ended Sept. 30, compared to a net loss of $1.5 million during the same time period last year, according to a statement. Non-interest income for the nine months ended Sept. 30 increased $1.2 million.

Chicopee Bancorp Nets $183K In Q3

by Banker & Tradesman time to read: 1 min
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