Bridgeport’s People’s United Financial Inc., the parent company for People’s United Bank, recently reported a $19.8 million increase in its net income for the fourth quarter of 2012.

The company reported net income of $61.2 million for the fourth quarter of 2012, compared with $41.4 million for the fourth quarter of 2011, and $62.2 million for the third quarter of 2012. Operating earnings were $63.2 million for the fourth quarter of 2012, compared with $57.1 million for the fourth quarter of 2011, and $64.4 million for the third quarter of 2012.

For the year ended Dec. 31, net income totaled $245.3 million, compared with $192.4 million for 2011. 

The company’s board of directors also declared a quarterly dividend of 16 cents per share, payable Feb. 15 to shareholders of record on Feb. 1. 

During the fourth quarter, the company repurchased 4.7 million shares of People’s United Financial common stock at a total cost of $56 million and, in 2012, the company repurchased 18.2 million shares of common stock at a total cost of $220 million. 

People’s United also reported a $935 million increase in total deposits last year.