Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Century Bancorp Posts Higher Q1 Profit

Century Bancorp, Inc. (CNBKA: Quote) 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.

Click here to receive FREE breaking news email alerts for Century BanCorp Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%. Here is a quick summary of the earnings reported after the bell on Nov. 24. 1. Amira Nature Foods Ltd (ANFI) reported net income for the second quarter of $8.3 million or $0.29 per share, compared to $5.0 million or $0.18 per share for the year-ago quarter. Excluding items, adjusted earnings...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.