People's United Financial Q4 net income increases

People's United Financial, Inc. has reported a net income of $61.2 million, or $0.18 per share, for the fourth quarter ended December 31, 2012, compared to $41.4 million, or $0.12 per share, for the same quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was $255.1 million, compared to $239.6 million for the same quarter ended December 31, 2011.

Net income for the year ended December 31, 2012 was $245.3 million, or $0.72 per share, compared to $192.4 million, or $0.55 per share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was $928.7 million, compared to $914.3 million for the year ended December 31, 2011.

"Our performance throughout 2012 continues to build on the execution of our primary objectives - optimizing existing businesses and efficiently deploying capital," stated Jack Barnes, President and CEO.

"Our financial results in 2012 reflect stable operating metrics in a challenging economic environment, supported by solid loan and deposit growth, strength in our fee income businesses and meaningful cost control."