West Springfield’s United Financial Bancorp Inc., the holding company for United Bank, has reported net income of $3.1 million for the third quarter of 2011, up from $2.7 million in net income for the corresponding period in 2010.

Total assets, loans, deposits increased during the quarter. In addition, net interest income, non-interest income and non-interest expenses rose compared to the same time a year ago.

For the nine months ended Sept. 30, 2011, net income was $8.2 million, compared to net income of $7.4 million for the same period in 2010.

The company also announced a quarterly cash dividend of 9 cents per share, payable on Dec. 6 to shareholders of record as of Nov. 14.

"Despite a challenging economic environment, a very competitive local market and loan pricing pressures, we are able to report solid third quarter results," said Richard B. Collins, president and chief executive officer. "During the quarter we continued to implement strategies to grow our market share, improve our financial performance and enhance shareholder value."