Georgetown Bancorp Inc., the holding company for Georgetown Savings Bank, reported net income of $286,000 for the three months ended March 31, 2010 compared to net income of $75,000 for the three months ended March 31, 2009.

The net income for the nine months ended March 31, 2010 was $604,000 compared to net income of $194,000 for the nine months ended March 31, 2009.

 "The company’s financial performance continued to improve with minimal asset quality problems. Fiscal year-to-date net income has more than tripled in size compared to last year, which is encouraging given the sluggish economic environment," said Robert E. Balletto, the company’s president and chief executive officer. "Despite this positive trend, the board and management recognize that further financial performance improvement is needed."