8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

______________________________________

FORM 8-K

______________________________________

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 30, 2013

______________________________________

WESTFIELD FINANCIAL, INC.
(Exact name of registrant as specified in its charter)

Massachusetts	001-16767	73-1627673
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

141 Elm StreetWestfield, Massachusetts 01085
(Address of principal executive offices, zip code)

Registrant’s telephone number, including area code: (413) 568-1911

(Former name or former address, if changed since last report)

______________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.         Results of Operations and Financial Condition

          On January 30, 2013, Westfield Financial, Inc. (the “Company”) issued a press release announcing its financial results for the quarter and year ended December 31, 2012.  The press release also announced the declaration of a regular cash dividend of $0.06 per share.  A copy of the press release is furnished as Exhibit 99.1 hereto and is hereby incorporated by reference into this Item 2.02.

          The information contained in this current report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 9.01          Financial Statements and Exhibits.

(a)  Not applicable.

(b)  Not applicable.

(c)  Not applicable.

(d)  Exhibits.

The exhibits required by this item are set forth on the Exhibit Index attached hereto.

Exhibit Number	Description
99.1	Press Release, dated January 30, 2013

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		WESTFIELD FINANCIAL, INC.
		By:	/s/ Leo R. Sagan, Jr.
			Leo R. Sagan, Jr.
			Chief Financial Officer
Dated:	January 30, 2013

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release, dated January 30, 2013

EX-99.1

Exhibit 99.1

Westfield Financial, Inc. Reports Results for the Quarter and Year Ended December 31, 2012

WESTFIELD, Mass.--(BUSINESS WIRE)--January 30, 2013--Westfield Financial, Inc. (the “Company”) (NasdaqGS:WFD), the holding company for Westfield Bank (the “Bank”), reported net income of $1.6 million, or $0.07 per diluted share, for the quarter ended December 31, 2012, compared to $1.4 million, or $0.06 per diluted share, for the quarter ended September 30, 2012, and $1.5 million, or $0.06 per diluted share, for the quarter ended December 31, 2011.

For the year ended December 31, 2012, net income was $6.3 million, or $0.26 per diluted share, compared to $5.9 million, or $0.22 per diluted share, for 2011.

Selected financial highlights for the fourth quarter 2012 include:

• During the fourth quarter 2012, commercial and industrial loans increased $10.7 million to $126.1 million at December 31, 2012. In addition, commercial real estate loans increased $5.4 million to $245.8 million at December 31, 2012. The increase in both commercial and industrial loans and commercial real estate loans was primarily due to new loan originations. While in prior quarters management has used residential loan growth to supplement the loan portfolio, the long-term strategy remains focused on commercial lending.
• The Company repurchased 2,424,554 shares of its common stock pursuant to its stock repurchase programs for a total of $17.6 million, which equates to 9.6% of the outstanding shares as of September 30, 2012. The shares were repurchased at an average price of $7.25.
• Net interest and dividend income decreased $109,000 to $7.6 million for the quarter ended December 31, 2012, compared to $7.7 million for the quarter ended September 30, 2012. The decrease in the yield on earning assets was greater than the decrease in the cost of funds due to the low rate environment.
• The Bank prepaid repurchase agreements in the amount $28.0 million and incurred a prepayment expense of $1.0 million. The repurchase agreements had a weighted average cost of 3.06% and the prepayment will decrease the cost of funds which will help increase the net interest margin. The repurchase agreements were paid off during the last week of December 2012 and therefore had minimal impact to the cost of funds in the fourth quarter 2012.
• There was no provision for loan losses for the fourth quarter 2012, compared to $218,000 for the third quarter 2012. There was net loan growth during the fourth quarter; however, an overall positive change in the risk profile of the loan portfolio offset the need for a provision.

Income Statement Discussion and Analysis

Net interest and dividend income decreased $109,000 to $7.6 million for the quarter ended December 31, 2012, compared to $7.7 million for the quarter ended September 30, 2012. The net interest margin decreased 5 basis points from the third quarter 2012. This resulted from a decrease of 9 basis points in the yield on average interest-earning assets partially offset by a decrease of 5 basis points in the cost of interest-bearing liabilities and an increase in average interest-earning assets of $6.4 million.

Net interest and dividend income increased $50,000 to $7.6 million for the three months ended December 31, 2012, as compared to $7.5 million for the same period in 2011. The increase in income was primarily the result of a $70.5 million increase in average interest-earning assets, driven by increases in both loans and securities.

For the year ended December 31, 2012, net interest and dividend income decreased $97,000 to $30.4 million, compared to $30.5 million for 2011. The net interest margin, on a tax-equivalent basis, was 2.53% and 2.67% for the year ended December 31, 2012 and 2011, respectively. The decrease in the net interest margin was due to the yield on average interest-earning assets decreasing 35 basis points, partially offset by a decrease of 26 basis points in the cost of interest-bearing liabilities, both occurring as a result of the low interest rate environment.

Noninterest income increased $173,000 for the fourth quarter 2012 compared to the third quarter 2012 primarily due to $156,000 in income from a commercial loan transaction and an increase of $98,000 in fee income from the third-party mortgage company. This increase in fee income was due to management’s decision to refer low-rate residential loans to the third-party mortgage company.

Net gains on sales of securities were $1.1 million for the fourth quarter 2012. Management sold mortgage-backed securities that were expected to prepay rapidly and decrease the expected yield. The Bank also prepaid repurchase agreements in the amount of $28.0 million and incurred a prepayment expense of $1.0 million. The repurchase agreements had a weighted average cost of 3.06% and the prepayment will decrease the cost of funds which will help increase the net interest margin. The repurchase agreements were paid off during the last week of December 2012 and therefore had minimal impact to the cost of funds in the fourth quarter 2012.

Noninterest expense decreased $52,000 to $6.7 million for the fourth quarter 2012, compared to $6.8 million for the third quarter 2012. Salaries and benefits decreased $250,000 to $3.9 million in the fourth quarter primarily due to the completion of vesting of certain stock-based compensation. This was partially offset by an increase of $178,000 in other real estate owned (“OREO”) expense primarily due to the write down of an OREO property.

Noninterest expense increased $1.2 million to $27.2 million for the year ended December 31, 2012, compared to $26.0 million for 2011. Salaries and benefits increased $973,000 to $16.5 million for the year ended December 31, 2012, which was due to normal increases in salaries and benefits and the hiring of new personnel, particularly in the commercial lending and compliance divisions.

Balance Sheet Growth

Total assets were stable at $1.3 billion at December 31, 2012, compared to September 30, 2012. Securities decreased $28.6 million to $635.8 million at December 31, 2012, from $664.4 million at September 30, 2012. This was due to using cash flow from securities along with securities sales to fund loan growth and share repurchases. Total assets increased $38.2 million from December 31, 2011.

During the fourth quarter 2012, commercial and industrial loans increased $10.7 million to $126.1 million at December 31, 2012. In addition, commercial real estate loans increased $5.4 million to $245.8 million at December 31, 2012. The increase in both commercial and industrial loans and commercial real estate loans was primarily due to new loan originations. This was offset by a decrease of $4.1 million residential real estate loans, which were $219.7 million at December 31, 2012. This decrease was due to management’s decision to refer low-rate residential loans to the third-party mortgage company.

Total deposits decreased $1.0 million to $753.4 million at December 31, 2012, compared to $754.4 million at September 30, 2012. For the year ended December 31, 2012, total deposits increased $20.4 million. Short-term borrowings and long-term debt increased $10.3 million to $348.8 million at December 31, 2012, compared to $338.5 million at September 30, 2012. The increase was due to the increase in borrowings from the Federal Home Loan Bank of Boston, partially offset by the prepayment of repurchase agreements in the amount of $28.0 million.

Shareholders’ equity was $189.2 million and $211.7 million, which represented 14.5% and 16.1% of total assets at December 31, 2012, and September 30, 2012, respectively. The decrease in shareholders’ equity during the quarter reflects the repurchase of 2.4 million shares of our common stock at a cost of $17.6 million pursuant to the Company’s stock repurchase programs, the payment of regular and special dividends amounting to $3.7 million and a decrease in other comprehensive income of $2.8 million, due to the change in market value of securities. This was partially offset by net income of $1.6 million for the quarter ended December 31, 2012.

On August 28, 2012, the Board of Directors authorized a stock repurchase program under which the Company was authorized to purchase up to 1,278,560 shares, or 5% of its outstanding common stock. The stock repurchase program was completed during the fourth quarter of 2012. On December 6, 2012, the Board of Directors authorized a new stock repurchase program under which the Company may purchase up to 2,427,000 shares, or 10% of its outstanding common stock. There were 1,006,662 shares remaining to be purchased under the repurchase program as of December 31, 2012.

Credit Quality

The allowance for loan losses was $7.8 million at December 31, 2012, and $8.2 million at September 30, 2012, representing 1.31% and 1.40% of total loans, respectively. This represents 259% and 282% of nonperforming loans at December 31, 2012, and September 30, 2012, respectively.

An analysis of the changes in the allowance for loan losses is as follows:

	Three Months Ended
	December 31,			September 30,			December 31,
	2012			2012			2011
	(In thousands)
Balance, beginning of period	$	8,176		$	8,065		$	7,087
Provision		-			218			677
Charge-offs		(399	)		(123	)		(7	)
Recoveries		17			16			7
Balance, end of period	$	7,794		$	8,176		$	7,764

During the fourth quarter 2012, nonperforming loans increased $111,000 to $3.0 million, representing 0.51% of total loans at December 31, 2012. Loans delinquent 30 – 89 days were $1.2 million at December 31, 2012, and $1.6 million September 30, 2012. There are no loans 90 or more days past due and still accruing interest.

Declaration of Regular Dividend

James C. Hagan, Chief Executive Officer stated, “On January 29, 2013, the Board of Directors approved the declaration of a regular cash dividend of $0.06 per share payable on February 20, 2013, to all shareholders of record on February 6, 2013.”

About Westfield Financial, Inc.

Westfield Financial, Inc. is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank, Elm Street Securities Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC. Westfield Financial and its subsidiaries are headquartered in Westfield, Massachusetts and operates through 12 banking offices in Agawam, East Longmeadow, Feeding Hills, Holyoke, Southwick, Springfield, West Springfield and Westfield, Massachusetts.

Forward-Looking Statements

The Company wishes to caution readers not to place undue reliance on any such forward-looking statements contained in this press release, which speak only as of the date made. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2011, and in subsequent filings with the Securities and Exchange Commission. The Company and the Bank do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

WESTFIELD FINANCIAL, INC. AND SUBSIDIARIES Consolidated Statements of Income and Other Data (Dollars in thousands, except per share data) (Unaudited)
	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,
	2012			2012			2011			2012			2011
INTEREST AND DIVIDEND INCOME:
Loans	$	6,369		$	6,476		$	6,381		$	25,603		$	25,318
Securities		4,228			4,353			4,530			17,399			19,624
Other investments - at cost		23			23			15			94			62
Short-term investments		6			1			-			8			1
Total interest and dividend income		10,626			10,853			10,926			43,104			45,005
INTEREST EXPENSE:
Deposits		1,478			1,505			1,699			6,142			7,589
Long-term debt		1,534			1,618			1,659			6,406			6,731
Short-term borrowings		20			27			24			115			147
Total interest expense		3,032			3,150			3,382			12,663			14,467
Net interest and dividend income		7,594			7,703			7,544			30,441			30,538
PROVISION FOR LOAN LOSSES		-			218			677			698			1,206
Net interest and dividend income after provision for loan losses		7,594			7,485			6,867			29,743			29,332
NONINTEREST INCOME:
Total other-than-temporary impairment losses on securities		-			-			-			-			(603	)
Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive loss		-			-			-			-			501
Net other-than-temporary impairment losses recognized in income		-			-			-			-			(102	)
Service charges and fees		933			617			509			2,581			1,973
Income from bank-owned life insurance		387			390			395			1,519			1,546
Loss on prepayment of borrowings		(1,017	)		-			-			(1,017	)		-
Gain on sales of securities, net		1,051			174			206			2,907			414
Loss on sale of other real estate owned		-			-			-			-			(25	)
Total noninterest income		1,354			1,181			1,110			5,990			3,806
NONINTEREST EXPENSE:
Salaries and employees benefits		3,938			4,188			3,847			16,530			15,557
Occupancy		703			663			645			2,775			2,671
Data processing		511			544			480			2,106			1,917
Professional fees		470			432			508			1,872			2,033
OREO expense		189			11			18			237			70
FDIC insurance		161			152			128			611			683
Other		774			808			720			3,092			3,027
Total noninterest expense		6,746			6,798			6,346			27,223			25,958
INCOME BEFORE INCOME TAXES		2,202			1,868			1,631			8,510			7,180
INCOME TAX PROVISION		648			481			102			2,256			1,306
NET INCOME	$	1,554		$	1,387		$	1,529		$	6,254		$	5,874
Basic earnings per share	$	0.07		$	0.06		$	0.06		$	0.26		$	0.22
Weighted average shares outstanding		23,041,733			24,391,585			26,106,911			24,501,951			26,482,064
Diluted earnings per share	$	0.07		$	0.06		$	0.06		$	0.26		$	0.22
Weighted average diluted shares outstanding		23,041,733			24,393,109			26,190,326			24,519,515			26,589,510
Other Data:
Return on average assets (1)		0.47	%		0.42	%		0.48	%		0.48	%		0.47	%
Return on average equity (1)		3.09	%		2.61	%		2.71	%		2.97	%		2.65	%
(1) Three month results have been annualized.

WESTFIELD FINANCIAL, INC. AND SUBSIDIARIES Consolidated Balance Sheets and Other Data (Dollars in thousands, except per share data) (Unaudited)
	December 31,			September 30,			December 31,
	2012			2012			2011
Cash and cash equivalents	$	11,761		$	11,653		$	21,105
Securities available for sale, at fair value		621,507			650,400			617,537
Federal Home Loan Bank of Boston and other restricted stock - at cost		14,269			14,045			12,438
Loans		594,918			582,732			554,156
Allowance for loan losses		7,794			8,176			7,764
Net loans		587,124			574,556			546,392
Bank-owned life insurance		46,222			45,835			44,040
Other real estate owned		964			1,130			1,130
Other assets		19,615			19,408			20,622
TOTAL ASSETS	$	1,301,462		$	1,317,027		$	1,263,264
Total deposits	$	753,413		$	754,408		$	732,958
Short-term borrowings		69,934			41,352			52,985
Long-term debt		278,861			297,166			247,320
Securities pending settlement		-			352			363
Other liabilities		10,067			12,092			10,650
TOTAL LIABILITIES		1,112,275			1,105,370			1,044,276
TOTAL SHAREHOLDERS' EQUITY		189,187			211,657			218,988
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	1,301,462		$	1,317,027		$	1,263,264
Book value per share	$	8.28		$	8.37		$	8.14
Other Data:
30- 89 day delinquent loans	$	1,162		$	1,577		$	1,848
Nonperforming loans		3,009			2,898			2,933
Nonperforming loans as a percentage of total loans		0.51	%		0.50	%		0.53	%
Nonperforming assets as a percentage of total assets		0.31	%		0.31	%		0.32	%
Allowance for loan losses as a percentage of nonperforming loans		259.02	%		282.13	%		264.71	%
Allowance for loan losses as a percentage of total loans		1.31	%		1.40	%		1.40	%

The following tables sets forth the information relating to our average balance at, and net interest income for, the three months ended December 31, 2012 and September 30, 2012, along with the three months and year ended December 31, 2012 and 2011, and reflect the average yield on interest-earning assets and average cost of interest-bearing liabilities for the periods indicated.

	Three Months Ended
	December 31, 2012						September 30, 2012
	Average				Avg Yield/		Average				Avg Yield/
	Balance		Interest		Cost		Balance		Interest		Cost
	(Dollars in thousands)
ASSETS:
Interest-earning assets
Loans(1)(2)	$	585,026	$	6,408	4.38	%	$	585,612	$	6,517	4.45	%
Securities(2)		642,554		4,396	2.74			643,701		4,521	2.81
Other investments - at cost		15,929		23	0.58			15,920		23	0.58
Short-term investments(3)		13,330		6	0.19			5,220		1	0.08
Total interest-earning assets		1,256,839		10,833	3.45			1,250,453		11,062	3.54
Total noninterest-earning assets		62,744						66,183
Total assets	$	1,319,583					$	1,316,636
LIABILITIES AND EQUITY:
Interest-bearing liabilities
NOW accounts	$	56,089		46	0.33		$	58,845		54	0.37
Savings accounts		92,432		38	0.16			93,831		39	0.17
Money market accounts		177,358		189	0.43			176,729		197	0.45
Time certificates of deposit		323,952		1,205	1.49			316,612		1,215	1.54
Total interest-bearing deposits		649,831		1,478				646,017		1,505
Short-term borrowings and long-term debt		345,033		1,554	1.80			343,696		1,645	1.91
Interest-bearing liabilities		994,864		3,032	1.22			989,713		3,150	1.27
Noninterest-bearing deposits		112,139						104,402
Other noninterest-bearing liabilities		12,732						11,075
Total noninterest-bearing liabilities		124,871						115,477
Total liabilities		1,119,735						1,105,190
Total equity		199,848						211,446
Total liabilities and equity	$	1,319,583					$	1,316,636
Less: Tax-equivalent adjustment(2)				(207)						(209)
Net interest and dividend income			$	7,594					$	7,703
Net interest rate spread(4)					2.23	%					2.27	%
Net interest margin(5)					2.47	%					2.52	%
Average interest-earning
assets to average interest-bearing liabilities					126.33						126.35

(1)	Loans, including non-accrual loans, are net of deferred loan origination costs and unadvanced funds.
(2)	Securities, loan income and net interest income are presented on a tax-equivalent basis using a tax rate of 34%. The tax-equivalent adjustment is deducted from tax-equivalent net interest and dividend income to agree to the amount reported on the statements of income.
(3)	Short-term investments include federal funds sold.
(4)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
(5)	Net interest margin represents tax-equivalent net interest and dividend income as a percentage of average interest-earning assets.

	Three Months Ended December 31,
	2012						2011
	Average				Avg Yield/		Average				Avg Yield/
	Balance		Interest		Cost		Balance		Interest		Cost
	(Dollars in thousands)
ASSETS:
Interest-earning assets
Loans(1)(2)	$	585,026	$	6,408	4.38	%	$	544,577	$	6,422	4.72	%
Securities(2)		642,554		4,396	2.74			618,421		4,719	3.05
Other investments - at cost		15,929		23	0.58			14,123		15	0.42
Short-term investments(3)		13,330		6	0.19			9,242		-	0.00
Total interest-earning assets		1,256,839		10,833	3.45			1,186,363		11,156	3.76
Total noninterest-earning assets		62,744						66,687
Total assets	$	1,319,583					$	1,253,050
LIABILITIES AND EQUITY:
Interest-bearing liabilities
NOW accounts	$	56,089		46	0.33		$	76,874		132	0.69
Savings accounts		92,432		38	0.16			99,805		88	0.35
Money market accounts		177,358		189	0.43			128,095		190	0.59
Time certificates of deposit		323,952		1,205	1.49			319,382		1,289	1.61
Total interest-bearing deposits		649,831		1,478				624,156		1,699
Short-term borrowings and long-term debt		345,033		1,554	1.80			295,868		1,683	2.28
Interest-bearing liabilities		994,864		3,032	1.22			920,024		3,382	1.47
Noninterest-bearing deposits		112,139						98,789
Other noninterest-bearing liabilities		12,732						10,526
Total noninterest-bearing liabilities		124,871						109,315
Total liabilities		1,119,735						1,029,339
Total equity		199,848						223,711
Total liabilities and equity	$	1,319,583					$	1,253,050
Less: Tax-equivalent adjustment(2)				(207)						(230)
Net interest and dividend income			$	7,594					$	7,544
Net interest rate spread(4)					2.23	%					2.29	%
Net interest margin(5)					2.47	%					2.60	%
Average interest-earning
assets to average interest-bearing liabilities					126.33						128.95

(1)	Loans, including non-accrual loans, are net of deferred loan origination costs and unadvanced funds.
(2)	Securities, loan income and net interest income are presented on a tax-equivalent basis using a tax rate of 34%. The tax-equivalent adjustment is deducted from tax-equivalent net interest and dividend income to agree to the amount reported on the statements of income.
(3)	Short-term investments include federal funds sold.
(4)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
(5)	Net interest margin represents tax-equivalent net interest and dividend income as a percentage of average interest-earning assets.

	Year Ended December 31,
	2012				2011
	Average		Avg Yield/		Average		Avg Yield/
	Balance	Interest	Cost		Balance	Interest	Cost
	(Dollars in thousands)
ASSETS:
Interest-earning assets
Loans(1)(2)	$ 573,642	$ 25,762	4.49	%	$ 536,084	$ 25,485	4.75	%
Securities(2)	638,467	18,110	2.84		619,704	20,376	3.29
Other investments - at cost	15,287	94	0.61		14,034	61	0.43
Short-term investments(3)	11,074	8	0.07		7,503	1	0.01
Total interest-earning assets	1,238,470	43,974	3.55		1,177,325	45,923	3.90
Total noninterest-earning assets	64,629				70,133
Total assets	$ 1,303,099				$ 1,247,458
LIABILITIES AND EQUITY:
Interest-bearing liabilities
NOW accounts	$ 61,277	266	0.43		$ 85,094	762	0.90
Savings accounts	95,129	186	0.20		104,112	515	0.49
Money market accounts	170,171	807	0.47		99,319	619	0.62
Time certificates of deposit	318,000	4,883	1.54		332,327	5,693	1.71
Total interest-bearing deposits	644,577	6,142			620,852	7,589
Short-term borrowings and long-term debt	332,129	6,521	1.96		303,909	6,878	2.26
Interest-bearing liabilities	976,706	12,663	1.30		924,761	14,467	1.56
Noninterest-bearing deposits	104,454				91,024
Other noninterest-bearing liabilities	11,179				9,754
Total noninterest-bearing liabilities	115,633				100,778
Total liabilities	1,092,339				1,025,539
Total equity	210,760				221,919
Total liabilities and equity	$ 1,303,099				$ 1,247,458
Less: Tax-equivalent adjustment(2)		(870)				(918)
Net interest and dividend income		$ 30,441				$ 30,538
Net interest rate spread(4)			2.24	%			2.34	%
Net interest margin(5)			2.53	%			2.67	%
Average interest-earning
assets to average interest-bearing liabilities			126.80				127.30

(1)	Loans, including non-accrual loans, are net of deferred loan origination costs and unadvanced funds.
(2)	Securities, loan income and net interest income are presented on a tax-equivalent basis using a tax rate of 34%. The tax-equivalent adjustment is deducted from tax-equivalent net interest and dividend income to agree to the amount reported on the statements of income.
(3)	Short-term investments include federal funds sold.
(4)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
(5)	Net interest margin represents tax-equivalent net interest and dividend income as a percentage of average interest-earning assets.

CONTACT:
Westfield Financial, Inc.
James C. Hagan, President & CEO
Leo R. Sagan, Jr., CFO
413-568-1911