Century Bank and Trust Company (merged into Eastern Bank)
Century Bank and Trust Company reported total assets of $7.1 bn at Q3 2021, its last Call Report before it merged into Eastern Bank. The CET1 capital ratio at Century Bank and Trust Company was 12.38%, and the uninsured share of Century Bank and Trust Company was 65.40%. Source: FDIC Call Reports.
What sets Century Bank and Trust Company apart
Nothing in the latest data sets Century Bank and Trust Company apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Century Bank and Trust Company?
The balance sheet of Century Bank and Trust Company at : assets $7.1 bn, deposits $6.2 bn, net loans $2.9 bn (loans equal to 46.58% of deposits). Securities make up 48.1% of total assets at Century Bank and Trust Company. Since , when Century Bank and Trust Company held $4.0 bn, its assets grew 75.8%. In the year to , deposits at Century Bank and Trust Company rose 14.6% while its total assets rose 13.3%. At , Century Bank and Trust Company employed 399 full-time equivalent staff across 29 offices, about $17.8 mn of assets per employee and $214.0 mn of deposits per office.
How much funding at Century Bank and Trust Company is uninsured?
At Century Bank and Trust Company, uninsured deposits (above the FDIC limit) made up 65.40% of domestic deposits at (+5.56 pp on a year earlier). In dollars, Century Bank and Trust Company estimated $4.1 bn of uninsured deposits.
Key facts, Q3 2021
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $6.2 bn | $5.4 bn (Q3 2020) | |
| Net loans and leases | $2.9 bn | $3.0 bn (Q3 2020) | |
| Loan-to-deposit ratio | 46.58% | 54.58% (Q3 2020) | |
| Tier 1 leverage ratio | 6.15% | 6.56% (Q3 2020) | |
| Total risk-based capital ratio | 13.35% | 13.00% (Q3 2020) | |
| Net interest margin | 1.79% | 1.91% (Q3 2020) | |
| Return on assets (ROA) | 0.65% | 0.72% (Q3 2020) | |
| Efficiency ratio | 61.20% | 58.03% (Q3 2020) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $4.7 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Gain of $1.5 mn | Rose by $1.3 mn | |
| Noncurrent loans to total loans | 0.05% | 0.05% (Q3 2020) | |
| Net charge-offs to average loans | 0.00% | -0.01% (Q3 2020) |
US rank of Century Bank and Trust Company: 1 = highest unless marked 1 = lowest.
Balance sheet
Century Bank and Trust Company: assets, deposits and loans
- Total assets $7.1bn
- Deposits $6.2bn
- Net loans $2.9bn
Capital and securities
The CET1 ratio of Century Bank and Trust Company stood at 12.38% in , +0.38 pp year on year. Low and high at Century Bank and Trust Company since : 10.79% () to 12.72% (). Equity capital of Century Bank and Trust Company at : $425.0 mn, or 6.0% of total assets. Century Bank and Trust Company also reported a total capital ratio of 13.35% for , and a tier 1 leverage ratio of 6.15%.
On held-to-maturity securities, Century Bank and Trust Company carried an unrealized loss of $4.7 mn at , equal to 1.1% of equity capital. The loss turned from a gain into a loss over the year. Its deepest point: $80.6 mn in . The available-for-sale portfolio of Century Bank and Trust Company showed an unrealized gain of $1.5 mn at ; the gain rose by $1.3 mn over the year.
Century Bank and Trust Company: capital ratios
- Total capital 13%
- CET1 12%
- Tier 1 leverage 6.1%
Century Bank and Trust Company: unrealized securities gains and losses
- Available for sale $1mn
- Held to maturity -$5mn
Profitability and loan quality
For the year to , Century Bank and Trust Company earned a return on equity of 11.12%; return on assets: 0.65%. Net interest margin at Century Bank and Trust Company: 1.79%, -0.12 pp in a year. Century Bank and Trust Company net income: $34.0 mn, up 8.3% year on year. The efficiency ratio of Century Bank and Trust Company was 61.20%: about 61 cents cost per revenue dollar, against 59 cents at the median peer.
At , noncurrent loans were 0.05% of total loans at Century Bank and Trust Company; net charge-offs: 0.00% of average loans. Gross loans and leases at Century Bank and Trust Company: $2.9 bn at , against $3.0 bn at .
Century Bank and Trust Company: profitability
- Return on equity 11%
- Net interest margin 1.8%
- Return on assets 0.6%
Peer group of Century Bank and Trust Company
The peer group of Century Bank and Trust Company is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Century Bank and Trust Company (state nonmember bank) and 0 have head offices in Massachusetts. Against them, Century Bank and Trust Company shows CET1 ratio 12.38% against a peer median of 13.45%, return on equity 11.12% against a peer median of 11.37% and uninsured deposit share 65.40% against a peer median of 26.39%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Luther Burbank Savings | State nonmember bank | CA | $7.2 bn | 19.85% | 11.94% | 22.60% | |
| Kearny Bank | State-chartered stock savings bank | NJ | $7.2 bn | 14.38% | 7.86% | 22.49% | |
| Southside Bank | State nonmember bank | TX | $7.1 bn | 17.35% | 12.06% | 43.51% | |
| Century Bank and Trust Company | State nonmember bank | MA | $7.1 bn | 12.38% | 11.12% | 65.40% | |
| Midland States Bank | State member bank | IL | $7.1 bn | 11.17% | 10.80% | 30.67% | |
| NBH Bank | State member bank | CO | $7.1 bn | 12.51% | 14.02% | 21.64% | |
| Peoples Bank | State member bank | OH | $7.0 bn | 11.86% | 4.82% | 30.17% | |
. FDIC Call Reports.
Last eight quarters
Two years at Century Bank and Trust Company, to : assets $5.5 bn to $7.1 bn, deposits $4.4 bn to $6.2 bn, equity $353.5 mn to $425.0 mn. Staff 432 to 399; offices 28 to 29.
| Metric | Q4 2019 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $5.5 bn | $5.5 bn | $5.9 bn | $6.3 bn | $6.3 bn | $7.3 bn | $7.2 bn | $7.1 bn |
| Total deposits | $4.4 bn | $4.6 bn | $5.1 bn | $5.4 bn | $5.5 bn | $6.4 bn | $6.4 bn | $6.2 bn |
| Bank equity capital | $353.5 mn | $361.2 mn | $372.2 mn | $383.1 mn | $389.7 mn | $400.4 mn | $412.7 mn | $425.0 mn |
| CET1 ratio | 12.57% | 12.61% | 12.35% | 12.00% | 12.00% | 11.83% | 11.82% | 12.38% |
| Return on equity (ROE) | 12.09% | 11.15% | 11.18% | 11.37% | 11.59% | 11.07% | 10.96% | 11.12% |
| Uninsured share of domestic deposits | 61.22% | 61.85% | 63.96% | 59.84% | 64.65% | 66.15% | 64.73% | 65.40% |
| Full-time equivalent employees | 432 | 434 | 425 | 426 | 443 | 438 | 414 | 399 |
| Number of offices | 28 | 28 | 28 | 28 | 28 | 28 | 29 | 29 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Century Bank and Trust Company, oldest first; figures before and after each event are not like for like.
- . Merged into Eastern Bank (FDIC certificate 32773).
Questions and identifiers
What were the total assets of Century Bank and Trust Company?
Century Bank and Trust Company reported $7.1 bn at in its Call Report.
Is Century Bank and Trust Company the same as its holding company?
No. This page covers Century Bank and Trust Company, FDIC certificate 19943; CENTURY BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Century Bank and Trust Company profitable?
Century Bank and Trust Company reported net income of $34.0 mn for the year to ; annualized return on equity: 11.12%. So yes: Century Bank and Trust Company made a profit over these months.
When is data for Century Bank and Trust Company next updated?
Century Bank and Trust Company no longer files Call Reports; its data ends at .
Where can I check the figures for Century Bank and Trust Company?
In the FDIC BankFind Suite record for certificate 19943, and in the Call Reports of Century Bank and Trust Company (RSSD ID 377908) at the FFIEC Central Data Repository.