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Timeline


Home >> About Century Bank >> Timeline

1960's - 1970's - 1980's - 1990's - 2000's

1960
1969 Founded by Marshall M. Sloane May 1,1969 in Somerville, MA

Record first day of deposits - $1.1 million

Total first year-end assets - $17 million

Year end net income - $32,177

 

1970

1972 Century Bancorp, Inc. formed
1973 North Shore Bank & Banking Company acquired
1975 First of 29 years of uninterrupted dividends paid
1979 Bank passes $100 million in assets

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1980

1981 Automated lockbox service introduced
1982 Acquired Bank of Massachusetts
1983 Acquired property in Medford, MA for future site of operations center
1985 Acquired Massachusetts Teachers Association Credit Union
1986 Acquired Social Service and St. Michael’s Credit Unions
1987 Initial Public Offering resulted in $10.5 million in new capital under NASDAQ symbol CNBKA
1988 Bank passes $500 million in assets

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1990

1993 Wollaston Credit Union acquired
1998 $29.75 million raised through a preferred security offering under NASDQ symbol CNBKP

Haymarket Cooperative Bank purchased

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2000

2000 Topped $1 billion in assets
2001 Headcount exceeds 400

Worcester processing center opened

Opened branches in Newton and Brookline

Ranked #7 among the state’s top billion dollar banks in The Boston Globe
2002 Opened Federal Street branch in Boston’s financial district, bringing branch total to 19
2003 Acquired Capital Crossing’s Chestnut Hill branch office and its retail deposits in downtown Boston

Grew to 21 branch locations with the addition of offices at The Hotel Commonwealth in Kenmore Square and the Sherman Union at Boston University

Broke ground on new five-story headquarters on Interstate 93 in Medford
2004 Opened branch at Boston University Medical Center

Assets exceed $1.7 billion
2005 Completed & occupied Headquarters building

Barry R. Sloane and Jonathan G. Sloane are elected Co-Presidents & Co-CEOs of Century Bank & Co-Presidents & Co-COOs of Century Bancorp

Fiduciary Services business unit created

Community Newspaper Company's 2005 Readers Choice Award to the Malden and Medford branches

Opened 23rd branch on State Street in Boston

Worcester commercial lending center opened
2006

Investment Services at Century Bank debuts

Marshall Sloane announces intention to elevate Barry and Jonathan to Co-CEOs of Century Bancorp

Fiduciary Services acquires first trust mandates

Century Bancorp, Inc. elects Barry and Jonathan Sloane as Co-CEOs

Commended by the Federal Housing Board for a “demonstrated commitment to community investment and service.”

2007 January 31, 2007 proclaimed “Century Bank Energy-Efficiency Day” by Medford Mayor.

Honored for the Bank's commitment to improving and protecting the environment by Osram Sylvania and NationalGrid.

Recognized by the Small Business Administration as Outstanding Leader

Enhanced customer convenience with additional ATMs at Cambridgeside Galleria.
2008 Opened branch in Fellsway Plaza on the Medford/Malden line.

Opened branch in The Sloane Building at One Salem Street in Medford Square.

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