Westfield Financial Declares Regular and Special Dividends and Reports Results for the Quarter Ended March 31, 2011

Westfield Financial WFD reported net income of $1.3 million for the quarter ended March 31, 2011, compared to $1.4 million for the same period in 2010. This represents earnings of $0.05 per basic and diluted share for both the quarters ended March 31, 2011 and 2010. The provision for loan losses was $339,000 for the three months ended March 31, 2011, compared to $500,000 for the same period in 2010. The decrease in provision for loan losses was due to a decrease in loan charge-offs and positive trends in the national and local economy.