Earnings at Medford-based Century Bancorp Inc. shot up in the second quarter; the company boasted record net income totaling $14.25 million for the first six months of the year, a 23.4 percent increase from this time last year.

Total assets climbed from $4.46 billion on Dec. 31, 2016, to $4.55 billion at the end of the second quarter.

Earnings per share increased from $2.07 class A share diluted this time last year to $2.56 per share now.

Net interest income totaled $42.6 million for the six months ending June 30, 2017, up 17.9 percent compared to the same period last year, a growth that Century Bank attributes to an increase in average earnings assets.

Net loans were just over $2 billion, up from $1.9 billion at this time in 2016. In its loan portfolio, Century saw a $40 million increase in its commercial real estate loans, as well as increases in commercial and industrial, residential real estate and home equity loans since the end of 2016.

However, its construction and land development, consumer and other and municipal loans have decreased since the end of 2016. Most notably, municipal loans were down more than $7 million since the end of 2016.

The company’s allowance for loan losses was $25.3 million or 1.24 percent of loans outstanding at June 30, 2017, compared to $23.9 million or 1.32 percent of loans outstanding at the same time in 2016. The change was primarily due to changes in portfolio composition and lower historical loss rates.