CENTURY BANCORP, INC.

CENTURY BANCORP, INC.

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Company Overview
Century Bancorp, Inc. is a bank holding company with subsidiary engaged in the provision of banking and financial services. The company has its registered head office in Medford, Massachusetts.
Century Bancorp serves as the holding company of Century Bank and Trust. Century Bank and Trust is a diversified financial firm that provides a wide array of banking services. The bank offers commercial and investment banking, personal banking, mortgage finance, business finance, saving accounts, current accounts, interest free fixed deposits, car finance, cash management services, loans, debit card, electronic fund transfers, and ATM (Automated Teller Machine) facilities, among others. It operates more than 20 branch locations in Massachusetts and caters the needs of small and medium-sized businesses and retail customers.
Business Summary
Bank Holding & Holding Company
Description and history
Century Bancorp, Inc is a Massachusetts state chartered bank holding company headquartered in Medford, Massachusetts.

The Company is a Massachusetts corporation formed in 1972 and has one banking subsidiary: Century Bank and Trust Company, formed in 1969. The Company had total assets of approximately $1.7 billion on December 31, 2005. The Company presently operates 23 banking offices in 16 cities and towns in Massachusetts ranging from Braintree in the south to Beverly in the north. The Bank’s customers consist primarily of small and medium-sized businesses and retail customers in these communities and surrounding areas, as well as local governments and institutions throughout Massachusetts.

The Company’s results of operations are largely dependent on net interest income, which is the difference between the interest earned on loans and securities and interest paid on deposits and borrowings. The results of operations are also affected by the level of income/fees from loans, deposits, as well as operating expenses, the provision for loan losses, the impact of federal and state income taxes and the relative levels of interest rates and economic activity.

The Company offers a wide range of services to commercial enterprises, state and local governments and agencies, non-profit organizations and individuals. It emphasizes service to small and medium-sized businesses and retail customers in its market area. The Company makes commercial loans, real estate and construction loans, consumer loans, and accepts savings, time and demand deposits. In addition, the Company offers to its corporate and institutional customers automated lockbox collection services, cash management services and account reconciliation services, and actively promotes the marketing of these services to the municipal market. Also, the Company provides full service securities brokerage services through its subsidiary, Century Financial Services, Inc. in conjunction with Commonwealth Equity Services, Inc., a full service securities brokerage business.

The Company is also a provider of financial services including cash management, transaction processing and short term financing to municipalities in Massachusetts and Rhode Island. The Company has deposit relationships with approximately 30% of the 351 cities and towns in Massachusetts.

The Company has one reportable operating segment.

The Class A Common Stock of the Company is traded on the NASDAQ National Market system under the symbol ‘CNBKA’. The Company’s Class B Common Stock is not traded on NASDAQ or any other national securities exchange.

Business Line
Bank holding company with subsidiary engaged in the provision of banking and financial services
Subsidiary
CENTURY BANK AND TRUST COMPANY
Advisor

IPO date
5/1987
US SIC Code
6712
Company Address

City province or state postal code
02155, MEDFORD, MA
Phone:
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.century-bank.com