logo
Share SHARE
FONT-SIZE Plus   Neg

Century Bancorp Posts Higher Q1 Profit

Century Bancorp, Inc. (CNBKA) reported first-quarter net income of $3.8 million or $0.69 per share, up from last year's $3.7 million or $0.67 per share in the corresponding period.

Net interest income for the latest quarter increased 3.4 percent to $14.4 million from $13.9 million last year, due to a 11.1 percent increase in the average balances of earnings assets, combined with a similar increase in average deposits, which offset a decrease in net interest margin to 2.48 percent from last year's 2.64 percent.

Total other operating income for the quarter increased to $3.6 million from $3.5 million in the year-ago quarter.

Provision for loan losses decreased to $1.1 million from 1.2 million in the year ago period.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Mylan N.V. (MYL) announced a recommended public offer to the shareholders of Meda Aktiebolag to tender all their shares in Meda to Mylan. The total offer consideration consists of a combination of cash and Mylan ordinary shares with a value of 165 Swedish kronor per Meda share. The total value of the... Cisco Systems Inc. (CSCO), the world's largest computer networking gear maker, Wednesday reported a 31 percent surge in second-quarter profit that also trumped Wall Street estimates. Shares of the company gained a near 10 percent in after-hours trading. San Jose, California-based Cisco's second-quarter... Shares of Deutsche Bank AG are gaining more than 9 percent in pre-market activity on Wednesday following media reports that the German lender is considering buying back several billion euros of its senior bonds. The recovery in the bank's share price comes after two days of falls amid a broader rout of bank stocks due to concerns over their profitability and troubled loans.
comments powered by Disqus
Follow RTT