People’s United Financial in Bridgeport, Connecticut, posted an 11 percent year-over-year increase in net income during the third quarter and boosted operating earnings to $68.4 million.

Earnings per share totaled 21 cents per share in the third quarter, up from 20 cents in the second. The company’s board of directors declared a dividend of 16.75 cents per share to be paid on Nov. 15.

Net interest income totaled $234.8 million, compared with $228.5 million in the year-ago period. Noninterest income ticked up to $87 million from $84 million a year ago, due partly to increases in insurance revenue ($2.6 million), bank service charges ($1 million) and commercial banking ($0.7 million).

Commercial loans increased about 6 percent year-over-year to $10.3 billion; commercial real estate loans increased 5 percent to $9.8 billion; residential mortgages increased 13.5 percent to $5.4 billion and consumer loans remained relatively flat year-over-year at $2.2 billion.

Net loan charge-offs totaled $4.1 million and represented 0.06 percent of average total loans in the third quarter. That was a slight increase from 0.05 percent in the prior quarter, but a decrease from 0.13 percent in the year-ago quarter. For the originated loan portfolio, non-performing loans totaled 0.68 percent of loans at Sept. 30, compared with 0.71 percent at June 30 and 0.79 percent last year.

Noninterest expenses ticked up to $214.2 million in the third quarter from $211.8 million in the second. Higher health care costs and one additional work day in the quarter added $4.1 million to compensation and benefits, while professional services declined $0.3 million.

Total deposits increased to $28.3 billion from $25.3 billion a year ago. Retail deposits totaled $16.6 billion, compared with $16.7 billion in the second quarter.

Total assets increased 7.8 percent year-over-year to $37.5 million.