Fitchburg’s Rollstone Bancorp, parent of Rollstone Bank & Trust, has reported $2.97 million in net income in 2011, up from $2.88 million in 2010.

The bank also ended last year with total assets of $532.9 million, an increase of $16.8 million or 3.2 percent. Last year, commercial loans increased by 10.6 percent to $131.3 million, according to a statement.

At the bank’s annual meeting, President and CEO Martin F. Connors Jr., also reported a successful year for the wealth management division, which had an increase in assets of $9.4 million, or 23.7 percent over 2010. The wealth management division is led by Melissa Maranda and focuses on helping people with all facets of their financial planning needs.

In July 2011, the bank reorganized into a mutual holding company structure. It also opened a professional services office at 11 East Central St. in Worcester.

"Our most significant accomplishment during 2011 was weathering the economic storm as well as we did. RBT has a long history of managing our business in a safe and sound manner and this year was no exception," said Connors. He also reported a capital ratio that reached 9.31 percent, a continued 5-star rating by BauerFinancial, and the designation of "Preferred Lender" by the Small Business Administration.