Medford-based Century Bank had a profitable third quarter of the year, but saw total commercial real estate volume decline on an annual basis.

The bank’s parent company reported net income of roughly $26.3 million for the nine months ended Sept. 30, or $4.72 per Class A share diluted, an increase of 18 percent compared to net income of roughly $22.3 million, or $4 per Class A share diluted, for the same period a year ago.

For just the third quarter, the company had net income of about $9.6 million, more than $1.5 million higher from the same quarter in 2017.

Net interest income for the quarter was roughly $23.2 million, almost $2 million higher from a year ago. Total assets reached $4.87 billion at the end of the quarter, up about $310 million from one year ago. Total loans grew.

Net loans were $2.23 billion at the end of the quarter, up about $150 million from the same time last year. Commercial real estate, municipal and construction loan volume is all down from one year ago, while residential real estate, consumer and home equity loans saw increases.

Commercial and industrial loans made the largest annual increase growing more than $80 million year-over-year, reaching almost $784 million at the end of the quarter.

The company has generated solid value to shareholders. At the end of this quarter, it reported 0.73 percent return on average assets, higher than at this time last year, and putting it on pace for close to 1 percent, a very solid performance by many investors.

The company’s allowance for loan losses was $28.5 million or 1.26 percent of loans outstanding at the end of the third quarter, compared to 1.22 percent of loans outstanding at this time last year.