logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT