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CNBKB On Other Exchanges
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century bancorp inc -cl b (CNBKB) Snapshot

Open
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Previous Close
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Day High
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52 Week High
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52 Week Low
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Market Cap
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Average Volume 10 Days
0.0
EPS TTM
$3.17
Shares Outstanding
2.0M
EX-Date
04/29/15
P/E TM
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Dividend
$0.24
Dividend Yield
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Current Stock Chart for CENTURY BANCORP INC -CL B (CNBKB)

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century bancorp inc -cl b (CNBKB) Details

Century Bancorp, Inc. operates as the bank holding company for Century Bank and Trust Company that provides banking products and services to commercial enterprises, state and local governments and agencies, nonprofit organizations, and individuals in Massachusetts. It offers various deposit products, including savings accounts, NOW accounts, demand deposits, time deposits, money market accounts, and cash management accounts. The company also grants single and multi-family residential loans, commercial and industrial loans, commercial and residential real estate loans, home equity loans, and consumer loans, as well as construction and land development loans. In addition, it provides automated lockbox collection, cash management, and account reconciliation services to corporate and institutional customers, as well as to the municipal market. Further, the company offers securities brokerage services; and financial services, such as transaction processing and short-term financing to municipalities in Massachusetts, New Hampshire, and the Rhode Island. As of April 8, 2014, it operated 26 full-service branches in the Greater Boston area. The company was founded in 1969 and is headquartered in Medford, Massachusetts.

361 Employees
Last Reported Date: 03/12/15
Founded in 1969

century bancorp inc -cl b (CNBKB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $734.4K
Founder, Chairman, Member of Executive Commit...
Total Annual Compensation: --
Chief Financial Officer, Treasurer, Chief Fin...
Total Annual Compensation: $363.4K
Head of Institutional Services Group and Exec...
Total Annual Compensation: $363.4K
Executive Vice President of Century Bank & Tr...
Total Annual Compensation: $416.2K
Compensation as of Fiscal Year 2014.

century bancorp inc -cl b (CNBKB) Key Developments

Century Bancorp Inc. Announces Dividend for the First Quarter Ended March 31, 2015, Payable on May 15, 2015; Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015

The Board of Directors of Century Bancorp Inc. voted a regular quarterly dividend of 12.00 cents ($0.12) per share on the company's Class A common stock, and 6.00 cents ($0.06) per share on the company's Class B common stock. The dividends were declared payable May 15, 2015 to stockholders of record on May 1, 2015. The company announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $4,959,000 or $0.89 per Class A share diluted, an increase of 0.5% compared to net income of $4,932,000, or $0.89 per Class A share diluted, for the same period a year ago. Earnings are up slightly compared to the same period last year; however, the harsh winter caused increased expenses and lower revenues during the first quarter of 2015 compared to the same period a year ago. Net interest income totaled $16.4 million compared to $16.5 million for the same period in 2014. The 0.6% decrease in net interest income for the period is primarily due to a decrease in the net interest margin. The net interest margin decreased from 2.27% on a fully taxable equivalent basis in 2014 to 2.12% on the same basis for 2015. This was primarily the result of a decrease in rates on earning assets. Also, interest expense increased slightly as a result of an increase in deposit balances and there was a 7.8% increase in the average balances of earning assets, combined with a similar increase in average deposits. Income before income taxes was $5,174,000 compared with $5,225,000 for the same period last year. Total interest income was $21,172,000 compared with $21,121,000 for the same period last year. Book value per share was $35.53 compared with $32.77 for the same period last year. Tangible book value per share was $35.04 compared with $32.28 for the same period last year. Return on average assets was 0.53% compared with 0.89% for the same period last year. Return on average stockholders equity was 10.31% compared with 0.57%.

Century Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Regular Quarterly Dividend on Class A Common Stock and Class B Common Stock, Payable on February 17, 2015

Century Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company's total interest income was $21,062,000 compared to $20,947,000 a year ago. Net interest income was $16,222,000 compared to $16,105,000 a year ago. Net interest income after provision for loan losses was $15,822,000 compared to $15,645,000 a year ago. Income before income taxes was $5,744,000 compared to $5,141,000 a year ago. Net income was $5,623,000 compared to $5,025,000 a year ago. Earnings per average Class A share, diluted was $1.01 compared to $0.90 a year ago. For the year, the company's total interest income was $85,371,000 compared to $79,765,000 a year ago. Net interest income was $66,235,000 compared to $60,960,000 a year ago. The 8.7% increase in net interest income for the period is primarily due to an increase in average earning assets. Net interest income after provision for loan losses was $64,185,000 compared to $58,250,000 a year ago. Income before income taxes was $22,726,000 compared to $21,053,000 a year ago. Net income was $21,860,000 compared to $20,046,000 a year ago. Earnings per average Class A share, diluted was $3.93 compared to $3.61 a year ago. Return on average assets was 0.61% compared to 0.60% a year ago. Return on average stockholders' equity was 11.57% compared to 11.58% a year ago. Book value per share as on December 31, 2014 was $34.57 compared to $31.76 a year ago. Tangible book value per share as on December 31, 2014 was $34.09 compared to $31.27 a year ago. The board of directors of the company voted a regular quarterly dividend of 12.00 cents ($0.12) per share on the Company's Class A common stock, and 6.00 cents ($0.06) per share on the Company's Class B common stock. The dividends were declared payable on February 17, 2015 to stockholders of record on February 2, 2015.

Century Bancorp, Inc. Declares Quarterly Dividends, Payable on November 17, 2014; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

The board of directors of Century Bancorp Inc. voted a regular quarterly dividend of 12.00 cents per share on the company's Class A common stock, and 6.00 cents per share on the company's Class B common stock. The dividends were declared payable November 17, 2014 to stockholders of record on November 3, 2014. The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company announced total interest income of $21,624,000 compared to $20,549,000 for the same period a year ago. Net interest income was $16,745,000 compared to $15,798,000 for the same period a year ago. Income before income taxes was $5,927,000 compared to $5,827,000 for the same period a year ago. Net income was $5,706,000 compared to $5,519,000 for the same period a year ago. Earnings per average class A share, diluted was $1.03 compared to $0.99 for the same period a year ago. For the nine months, the company announced total interest income of $64,309,000 compared to $58,818,000 for the same period a year ago. Net interest income was $50,013,000 compared to $44,855,000 for the same period a year ago. Income before income taxes was $16,982,000 compared to $15,912,000 for the same period a year ago. Net income was $16,237,000 compared to $15,021,000 for the same period a year ago. Earnings per average class A share, diluted was $2.92 compared to $2.70 for the same period a year ago. Return on average assets was 0.60% compared to 0.62% for the same period a year ago. Return on average stockholders' equity, was 11.68% compared to 11.51% for the same period a year ago. Book value per share was $35.14 compared to $29.93 for the same period a year ago. Tangible book value per share was $34.65 compared to $29.44 for the same period a year ago. The 11.5% increase in net interest income for the period is primarily due to an increase in average earning assets. The net interest margin increased from 2.21% on a fully taxable equivalent basis in 2013 to 2.23% on the same basis for 2014. This was primarily the result of a decrease in rates paid on deposits and borrowed funds.

 

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