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
Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several... Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles.
comments powered by Disqus
Follow RTT