Century Bancorp Profit Rises - Quick Facts - InvestingChannel

Century Bancorp Profit Rises – Quick Facts

Century Bancorp Inc. (CNBKA: Quote) Tuesday reported fourth-quarter net income of $4.8 million , compared with $4.2 million last year.

Net interest income for the quarter increased to $15 million from $14 million in the prior year. Other operating income was lower at $4.2 million, compared with $4.4 million a year ago.

The company saw an increase in loan-loss provision to $14 million from $13 million last year.

As at December 31, 2012, the company’s net loans totaled $1.09 billion, compared with $968 million in the prior year. Total deposits were higher at $2.44 billion, compared with $2.12 billion a year earlier.

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by RTT Staff Writer

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