Medford’s Century Bancorp Inc., the parent company of Century Bank and Trust Co., has reported $3.3 million in net income for the quarter ended Sept. 30, a slight increase from net income of $3.2 million reported during the same period a year ago.

For the first nine months of the year, net income totaled $9.65 million, a 36.4 percent increase when compared to net income of $7.07 million for the same period a year ago.

Total assets increased 8 percent to $2.4 billion at Sept. 30 from $2.3 billion at Dec. 31, 2009.

The company also reported a pre-tax charge of $916,000 to pay former co-CEO Jonathan G. Sloane, in accordance with a separation agreement, according to a statement.

The company’s board of directors declared a regular quarterly dividend of 12-cents per share on the company’s Class A common stock, and 6-cents per share on the company’s Class B common stock.

The dividends are payable Nov. 15 to stockholders of record on Nov. 1.