Springfield-based Hampden Bancorp, the holding company for Hampden Bank, has reported net income of $47,000 for the three months ended Sept. 30, compared to $521,000 for the same period in 2007 – a 90.9 percent decrease.

The decrease in net income was primarily the result of a year-over-year increase in the provision for loan losses of $422,000 for the quarter. The increase in the provision for loan losses is due to increases in loan delinquencies, growth in the loan portfolio and “general economic condition,” according to the bank.

The company’s board of directors declared a quarterly cash dividend of [Article].03 per common share, payable on Nov. 26, to shareholders of record at the close of business on Nov. 12.