Westfield Financial Inc., the holding company for Westfield Bank, has reported fourth quarter net income of $1.9 million, a drop of almost 27 percent compared to net income of $2.6 million in the fourth quarter of 2007.

For the year ended Dec. 31, net income was $8 million, compared to $8.7 million for 2007, an eight percent dip.

Both the three months and year ended Dec. 31 showed an increase in net interest income and a lower provision for income taxes. These items were offset by increases in the provision for loan losses and non-interest expenses, the company said in a statement.

Numbers for both the fourth quarter and year-end 2007 were skewed somewhat, according to the company, because of a pre-tax gain of $546,000 on the sale of a piece of vacant land and a pre-tax gain of $315,000 resulting from the curtailment of a defined benefit life insurance plan.

Westfield Bank is headquartered in Westfield and operates 11 banking offices in Agawam, East Longmeadow, Holyoke, Southwick, Springfield, West Springfield and Westfield.