West Springfield’s United Financial Bancorp Inc., the holding company for United Bank, reported net income of $2.7 million for the second quarter, down slightly from $2.9 million in net income for the corresponding period in 2010.

For the six months ended June 30, net income was $5.1 million, compared to net income of $4.7 million for the same period in 2010.

In the second quarter, the bank’s net interest income, provision for loan losses and total assets increased, according to a statement. 

The company also announced a 13 percent increase in its quarterly cash dividend to 9-cents per share. The dividend will be paid Sept. 2 to shareholders of record as of Aug. 12.

"We are pleased with our ability to profitably grow our franchise while maintaining excellent asset quality and a strong capital position," said Richard B. Collins, president and chief executive officer. "While our performance continues to be affected by a challenging economic environment and a very competitive local market, we remain committed to improving our financial performance and enhancing shareholder value. As a result of our consistent, stable financial results we are pleased to reward our shareholders with a 13 percent increase in our quarterly dividend payment."