People's United Financial Inc. ( PBCT ) Thursday reported a higher fourth-quarter profit, helped by an increase in non interest income and lower loan-loss provisions and other expenses. However, results were partly offset by declines in both in net interest income and net interest margin. "The company's performance in the fourth quarter reflects our continued focus on operating leverage through increased fee-based income and ongoing expense control to mitigate the negative impact of this prolonged low interest rate environment," said Chief Financial Officer Kirk Walters. People's United reported fourth-quarter net income of $61 million or $0.18 per share, compared with $41 million or $0.12 per share last year. On average, 18 analysts polled by Thomson Reuters expected earnings of $0.19 per share for the quarter.