First Commons Bank in Newton tripled its net income on a year-over-year basis in the third quarter.

Net income totaled $612,000 at Sept. 30, compared with $200,000 in the year-ago period. Total assets increased 28 percent at $347 million at Sept. 30 from $293 million a year ago. Net loans increased 6 percent year-over-year to $264 million. Total deposits increased 20 percent year-over-year to $302 million.

“We continue to be very pleased with our net income results,” Chairman, President and CEO Tony Nuzzo said in a statement. “The third quarter of 2016 represents our fourth consecutive quarter of strong and increasing earnings as well as a tripling of net income earned in the third quarter of 2015. Further, our net income for the first three quarters of 2016 exceeds our total 2015 net income by over 50 percent.”

He also said that as of Sept. 30, the bank had no loans delinquent 30 days or more.

Tangible book value on Sept. 30 was $10.63 per share, with approximately $33 million in equity and a Tier 1 capital to average assets ratio for the quarter of 9.66 percent.