Westfield Financial, the holding company for Westfield Bank, has reported net income of $1.2 million for the quarter ended March 31, compared to $1.9 million for the same period in 2008 – a 36.8 percent decrease.

The decrease in earnings was primarily the result of increases in the provision for loan losses and noninterest expense, partially offset by an increase in net interest and dividend income and noninterest income, the company said in a statement.

The provision for loan losses was $1.2 million for the three months ended March 31, compared to $175,000 for the same period in 2008.

The primary reasons for the increase in the provision for loan losses were an increase in loan charge-offs, primarily pertaining to a manufacturing commercial loan relationship, and the continued weakening of the national and local economy, according to the company.