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Century Bancorp Reports 14 Percent Increase Year-Over-Year In Net Income

centurybank Medford-based Century Bancorp has reported a net income of a little more than $19 million last year, an increase of 14.1 percent, or about $2.3 million, from its net income in 2011.

The company reported that total assets during that time period also increased 12.5 percent, to $3.1 billion at the end of 2012, up from $2.7 billion at the end of 2011.

For the quarter ended Dec. 31, the company reported net income totaling $4.8 million, up 14.1 percent from the $4.2 million it reported in 2011.

The company also declared a 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, payable Feb. 15 to stockholders of record on Feb. 1.

Banking & Lending