Growth and profits at the parent company of Melrose Bank continued to grow in the second quarter, but at a marginal pace.

The company reported net income of $376,000 in the second quarter of the year, down $45,000 from the second quarter of 2017.

Total assets at the company grew to roughly $320 million, up about $9 million from the linked quarter and about $26 million year-over-year. Total deposits grew $12 million year-over-year, reaching just over $235 million.

Total loans at the end of the second quarter were nearly $263 million, up about $30 million year-over-year, driven by gains in commercial loans.

Net interest income for the quarter was about $1.8 million, up about $150,000 from the second quarter of 2017. The margin lost four basis points, finishing the second quarter at 2.44 percent.

Melrose Bank was one of four banks to go public in 2014 and therefore be eligible for an acquisition at the end of 2017, following the state-mandated three-year waiting period. One of those other four banks, Pilgrim Bank, was recently acquired by Hometown Financial Group.