Century Bank agrees to purchase Medford branch office from The Co-operative Bank of Concord.MEDFORD, Mass.--(BUSINESS WIRE)--July 13, 1995--Marshall M. Sloane, chairman and chief executive officer of Century Bank and Trust Co. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CNBKA) announced that Century Bank has agreed to purchase The Co-operative Bank The Co-operative Bank is a co-operative bank trading in the United Kingdom with headquarters in Manchester, UK. It is an ethical bank, and refuses to invest in companies involved in the arms trade, genetic engineering, animal testing and use of sweated labour as stated in its of Concord's (NASDAQ: COBK COBK Co-Operative Bank of Kenya Limited ) branch office located at 55 High St. in Medford. The agreement calls for Century to acquire approximately $21 million in deposits along with the real estate in which The Co-operative Bank's branch office is located. The transfer date is expected to occur during the fourth quarter and is subject to regulatory approval. "The office location and deposits complement Century's other office in Medford and will strengthen our presence in the Medford community," said Marshall M. Sloane, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Established in 1969, Century Bank and Trust Co. is a state chartered, FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured commercial bank with assets of $500 million and operates 14 retail banking offices serving Eastern Massachusetts. CONTACT: Century Bancorp Inc. Marshall M. Sloane, 617/391-4000 Ext. 4100 |
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