Springfield-based Hampden Bancorp, the holding company for Hampden Bank, has reported net income of $190,000 for the fourth quarter, compared to $153,000 for the same period in 2007, a 24.2 percent increase.

The company also said it has repurchased 397,493 shares of company stock, at an average price of $10.03 per share, through a stock repurchase program that was announced in May 2008. This contributed to an overall decrease in stockholders’ equity of $3.9 million, to $96.5 million by Dec. 31, 2008, compared to $100.4 million at June 30, 2008, the bank said. The company’s board of directors authorized a second stock repurchase program for the purchase of up to 377,619 shares, or 5 percent of the company’s outstanding common stock.

The company also said that the board of directors declared a quarterly cash dividend of $0.03 per common share, payable on Feb. 26, to shareholders of record on Feb. 11.