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CENTURY BANK REPORTS EARNINGS, DECLARES DIVIDEND

 CENTURY BANK REPORTS EARNINGS, DECLARES DIVIDEND
 SOMERVILLE, Mass., Jan. 22 /PRNewswire/ -- Century Bancorp, Inc.


(NASDAQ: CNBKA) today reported net income of $79,200 for the fourth quarter of 1991 and $640,100 for the year.
 Stockholders' equity totaled $37.1 million at the end of 1991, resulting in a leverage ratio of 7.91 percent, compared to 7.63 percent at the end of 1990. Book value at Dec. 31, 1991 stood at $6.48 per share. Century's loan loss reserve amounted to $4.9 million at Dec. 31, 1991.
 Century's decrease in earnings continues to be attributed primarily to non-accruing loans and other real estate owned. Century's non-accruing loans totaled $9.8 million at the end of the fourth quarter, other real estate owned totaled $13.4 million.
 Century's board of directors voted a regular quarterly dividend of 2.5 cents per share on Century Class A common stock and 0.35 cents per share on Class B common stock. The dividends were declared payable Feb. 18, 1992, to stockholders of record Feb. 3, 1992.
 Century Bancorp, Inc., with 14 offices in eastern Massachusetts, has three subsidiaries: Century Bank and Trust Company, headquartered in Somerville; Century North Shore Bank and Trust Company, headquartered in Lynn; and Century Bank/Suffolk, headquartered in Chelsea.
 CENTURY BANCORP, INC.
 Financial Summary
 Fourth Quarter ended
 12/31/91 12/31/90
 Net income (000) $79 $112
 Earnings per share 1 cent 2 cents
 Loan loss provision (000) 1,055 866
 Year ended
 12/31/91 12/31/90
 Net income (000) $640 $1,254
 Earnings per share 11 cents 22 cents
 Loan loss provision (000) 2,945 2,676
 Total assets (000) 467,725 481,029
 Total average shares outstanding during all periods was 5,722,450.
 -0- 1/22/92
 /CONTACT: Paul V. Cusick, Jr. of Century Bancorp, 617-391-4000/
 (CNBKA) CO: Century Bancorp, Inc. ST: Massachusetts IN: FIN SU: ERN


PB -- NE015 -- 2339 01/22/92 13:06 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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