MEDFORD, Mass.--(BUSINESS WIRE)--Century Bank, New England’s largest family-run bank, is pleased to announce it again has been named to the prestigious Sandler O’Neill + Partners 2014 “Bank and Thrift Sm-All Stars” report as one of the top 35 small-cap banks and thrifts in the country.
More than 440 publicly traded banks and thrifts with a market cap of less than $2.5 billion were evaluated to identify the small-cap banks that stand out from the pack and are excelling among their peers. Century Bank is one of only four Massachusetts institutions to receive this honor.
According to Sandler O’Neill, “The performance of the winners is exceptional,” based on a strict evaluation metrics for financial institutions; growth, profitability, credit quality and capital strength. Century Bank is honored to return as an alumnus of the Sm-All Star Class, delivering bottom line results that are markedly better than the industry as a whole.
“We are very proud that for two consecutive years, Sandler O'Neill + Partners has selected Century as one of the Sm-All Stars of US community banking. Their methodology required that we clear numerous hurdles to make the cut,” said Barry R. Sloane, Century Bank President and CEO. “This seal of approval from a prestigious and well-respected investment banking firm is recognition of Century Bank as part of the next crop of leading mid-cap banks – and we intend not to disappoint them.”
“Our commitment to stay true to our shareholders and the dedication and efforts of our team has enabled us to earn this second consecutive recognition,” said Marshall M. Sloane, Century Bank Founder and Chairman.
The Sandler O’Neill + Partners survey analyzed growth, profitability,
credit quality, and capital strength. Companies were evaluated based on
absolute performance in eight financial variables:
(1) EPS, (2) loans, (3) deposits, (4) return on average equity, (5) nonperforming assets to loans plus OREO ratio, (6) net charge-off ratio, (7) reserve to nonperforming assets ratio and (8) Tier 1 risk-based capital ratio. To earn “Sm-All Star” status, the banks and thrifts needed to be at or above the peer median for the first seven metrics surveyed, plus be considered “Well Capitalized” per the Tier 1 risk-based capital ratio.
About Century Bancorp, Inc.
Century Bank, a subsidiary of Century Bancorp, Inc. (NASDAQ: CNBKA), is a state chartered full service commercial bank, operating twenty-five full-service branches in the Greater Boston area, offers a full range of Business, Personal and Institutional Services. Century Bank is a member of the FDIC and is an Equal Housing Lender.
Corporate Headquarters is located at 400 Mystic Avenue, Medford, MA 02155. Branches are located in Allston, Andover, Beverly, Boston, Braintree, Brookline, Burlington, Cambridge, Chestnut Hill, Everett, Lynn, Malden, Medford, Newton, Peabody, Quincy, Salem, Somerville, Wellesley and Winchester – with a new location opening soon in Woburn. For more information, please visit CenturyBank.com.