Year-over-year net income declined at First Commons Bank during the second quarter this year, but the Newton-headquartered bank also announced it had increased its total asset level 18 percent during the 12-month period ended June 30.

Total assets at the bank, which has been operating for just under four years, now stand at $229.4 million, up $35 million over the past year. That puts First Commons’ assets higher than 60 percent of FDIC-insured banks that filed call reports for the period ending March 31 this year. Net loans also increased $46 million, or 29 percent, during that same time.

"We are pleased with our continued growth, especially in our loan portfolio. We are also pleased that as a bank which was established in July 2009, we have now reported positive net income for six consecutive quarters, with continued improvement in profitability from ongoing operations," Tony Nuzzo, president and CEO, said in a statement.

Net income for the six-month period ended June 30 stood at $521,000, compared with $2.7 million for the same time period last year.

According to the bank, net income in 2012 included a tax recovery of $2.3 million and gains of the sale of securities of $318,000. Net income for the corresponding period this year included gains on the sales of securities of $262,000, but without tax recoveries because those were exhausted in 2012. In a statement, the bank said that without tax recoveries or gains on the sale of securities, net income for the first six months of 2013 would have been $365,000, compared with $57,000 for the same period in 2012.

Total interest income increased approximately $864,000, or 22 percent, for the six months ended June 30, compared with 2012. Interest expense increased by approximately $62,000, or 7 percent, and noninterest expenses increased by approximately $215,000, or 7 percent, during the same period. As of June 30, the bank does not have any nonperforming assets.