Georgetown Bancorp posted $374,000 in net income for the quarter ended June 30, compared with $150,000 in the year-ago quarter.

Net income for the six months ended June 30 totaled $649,000, compared with $359,000 last year. The holding company for Georgetown Bank recorded a $422,000 net after-tax increase in the market value of its available for sale investment securities in that period, boosting its earnings.

“Additionally, our asset quality continues to be strong, as non-performing assets as a percentage of total assets was 0.13 percent at June 30, 2014,” President and CEO Robert E. Balletto said in a statement. “Non-interest income for the six months ended June 30 declined 51 percent compared to the six months ended June 30, 2013, caused by a decline in mortgage banking income, which was negatively affected by higher mortgage rates. We remain focused on our strategic plan, which we believe will enhance long-term stockholder value.”

Total assets increased slightly in the first half of 2014, to $264.6 million from $263 million at year-end 2013.

The company’s board of directors also declared a regular quarterly cash dividend of 4.25 cents per share of common stock, to be paid on Aug. 25 to stockholders of record on Aug. 11.