MEDFORD, Mass.--(BUSINESS WIRE)--Century Bancorp, Inc. (NASDAQ:CNBKA) and Century Bank and Trust Company today announced Barry R. Sloane, President and CEO, will add the position of Chairman of the Board. Linda Sloane Kay, Executive Vice President, will move to the newly created position of Vice Chair of the Board.
“My father, the late Marshall Sloane started Century Bank and Trust Company on May 1, 1969,” said Sloane. “It is my honor to build upon the direction he set for the Bank and his legacy. I have partnered with my father and sister for the last 15 years during which time the Bank has posted 9 consecutive years of excellent financial results and achieved the significant milestone of $5.2 Billion in assets. Under our leadership, Century will continue to be the largest family-run bank in New England.”
“I am enormously grateful for everything my father taught me,” said Sloane Kay. “He was one of the most accomplished bankers of all time. I am pleased to carry-on his legacy of community banking. I am also grateful for the collaborative partnership I have with my brother, Barry.”
The late Founder and Chairman, Marshall Sloane, established Century Bank and Trust Company 50 years ago. He envisioned a bank focused on serving the needs of families and businesses in local communities. Century successfully accomplished that mission. Marshall was actively working at the Bank until 3 weeks prior to his death on April 6, 2019. He would have celebrated his 93rd birthday on April 15th.
Century Bancorp, through its subsidiary bank, Century Bank and Trust Company, a state-chartered full- service commercial bank, operating 27 full-service branches in the Greater Boston area, offers a full range of Business, Personal and Institutional Services. www.CenturyBank.com
This press release may contain “forward-looking statements” with respect to the financial condition, results of operations and business of Bancorp and Bank. Readers are cautioned not to place undue reliance on any forward-looking statements. The Bancorp and Bank disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to any new information, future events or otherwise.