Beneficial Mutual Bancorp Q4 net income decreases

Beneficial Mutual Bancorp, Inc. has reported a net income of $3.81 million, or $0.05 per share, for the fourth quarter ended December 31, 2012, compared to $5.88 million, or $0.08 per share, for the fourth quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was $33.27 million, compared to $34.82 million for the fourth quarter ended December 31, 2011.

Net income for the year ended December 31, 2012 was $14.18 million, or $0.18 per share, compared to $11.04 million, or $0.14 per share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was $139.46 million, compared to $142.10 million for the year ended December 31, 2011.

Gerard Cuddy, Beneficial's president and CEO, stated, "During 2012 we made progress toward a number of our goals. We added resources to our credit team and were pleased by the improvement in our asset quality metrics as we experienced a 32.4% decrease in our non-performing assets at December 31, 2012 compared to a year ago. We also were able to continue to grow our retail and business customer base and experienced strong deposit growth of 9.3% in 2012."