Meridian Interstate Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. The company reported net income of $4.0 million, or $0.18 per diluted share, for the quarter ended December 31, 2013, up from $2.1 million, or $0.10 per basic and diluted share, for the quarter ended December 31, 2012. Total interest and dividend income was $25.2 million against $22.2 million last year. Net interest income was $20 million against $17.3 million last year. Income before income taxes was $6.2 million against $3.2 million last year. The company's return on average assets was 0.60% for the quarter ended December 31, 2013, up from 0.38% for the quarter ended December 31, 2012. The company's return on average equity was 6.49% for the quarter ended December 31, 2013, up from 3.59% for the quarter ended December 31, 2012.

For the year ended December 31, 2013, net income was $15.4 million, or $0.70 per diluted share, up from $12.4 million, or $0.57 per basic and diluted share, for the year ended December 31, 2012. Total interest and dividend income was $92.5 million against $85 million last year. Net interest income was $75.1 million against $66.0 million last year. Income before income taxes was $23.5 million against $18.8 million last year. For the year ended December 31, 2013, the company's return on average assets was 0.62%, up from 0.59% for the year ended December 31, 2012. For the year ended December 31, 2013, the company's return on average equity was 6.39%, up from 5.42% for the year ended December 31, 2012. Book value per share was $11.27 against $10.57 at December 31, 2012. Tangible book value per share was $10.65 against $9.95 at December 31, 2012. The increases in net interest income were due primarily to loan growth along with declines in the cost of funds, partially offset by declines in yields on interest-earning assets and deposit growth for the fourth quarter and year ended December 31, 2013 compared to the same periods in 2012.

Net charge-offs totaled $184,000 for the quarter ended December 31, 2013.