Close management of its interest expenses and better asset quality helped Chicopee Bancorp Inc., holding company for Chicopee Savings Bank, almost double its year-over-year net income in the fourth quarter.

The company reported an 84.9 percent jump in quarterly net income, to $379,000 from $205,000 in the fourth quarter of 2010. The growth was largely attributed to an 8.3 percent increase in net interest income of $349,000, and a 42.4 percent decrease in the provision for loan losses of $196,000, compared to the fourth quarter of 2010.

In a statement, Chicopee said it owed the increase in net interest income to a $377,000 decrease in interest expense, primarily the result of a $282,000 decrease in deposit costs and a $95,000 slide in borrowing costs, including Federal Home Loan Bank advances and repurchase agreements.

For the year, the company reported net income of $1.1 million, up $635,000, or 136.6 percent, compared to 2010. The increase in 2011 net income was primarily attributed, again, to a $1.1 million, or 6.6 percent, bump in net interest income and a decrease in the provision for loan losses of $381,000.

Total assets rose 7.4 percent in 2011, to $616.3 million from $573.7 million at the end of 2010.