First Commons Bank in Newton more than doubled its third quarter net income this year, posting $285,000 in profit for the period ended Sept. 30 compared with $110,000 for the same period in 2013.

Year-to-date income through Sept. 30 totaled $973,000, compared with $631,000 for the same period last year, representing a 54 percent year-over-year increase. Net income results last year were impacted by $262,000 in gains on sales of securities, while this year’s results are strictly from banking operations.

"We are pleased with our core earnings results, especially as we increased our Tier 1 Capital Ratio. Earnings from bank operations grew by over 50 percent for the first nine months of 2014, compared to the first nine months of 2013," Chairman, President and CEO Tony Nuzzo said in a statement.

First Commons posted an $887,000, or 12.2 percent, increase in total interest income for the nine months ended Sept. 30, coming in at $8.1 million. Interest expenses increased $298,000, or 21.4 percent, to $1.7 million for that period.

Noninterest expenses increased $167,000, or 3.5 percent, for that time frame to $4.9 million compared with the year-ago period.

In the statement, Nuzzo said the bank’s ratio of nonperforming loans to total loans remained at zero and said First Commons has yet to have a loan more than 60 days past due.