Westfield Financial Inc., the holding company for Westfield Bank, reported today that its net income for the year ended Dec. 31 2012 was $6.3 million, a 6.8 percent increase from the $5.9 million it reported at the close of 2011.

The company’s net income in last year’s fourth quarter was reported at $1.6 million, up 6.7 percent from $1.5 million in 2011’s fourth quarter.

There was no provision for loan losses for the fourth quarter 2012, compared to $218,000 for the third quarter. There was net loan growth during the fourth quarter, but an overall positive change in the risk profile of the loan portfolio offset the need for a provision, the company said in its earnings statement.

During the fourth quarter, commercial and industrial loans increased $10.7 million to $126.1 million at Dec. 31, 2012. Commercial real estate loans increased $5.4 million to $245.8 million. The company attributed the increase primarily to new loan originations.

Westfield Financial also repurchased 2.4 million shares of its common stock under its stock repurchase programs for a total of $17.6 million, which equates to 9.6 percent of the outstanding shares as of Sept. 30. The shares were repurchased at an average price of $7.25.