Century Bancorp, Inc. Declares Regular Quarterly Cash Dividend, Payable on February 16, 2016; Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
The company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company's total interest income was $22,496,000 compared to $21,062,000 a year ago. Net interest income was $17,222,000 compared to $16,222,000 a year ago. Income before income taxes was $5,876,000 compared to $5,744,000 a year ago. Net income was $5,971,000 compared to $5,623,000 a year ago. Earnings per average Class A share, diluted was $1.07 compared to $1.01 a year ago.
For the six months, the company's total interest income was $90,093,000 compared to $85,371,000 a year ago. Net interest income was $69,959,000 compared to $66,235,000 a year ago. Income before income taxes was $23,554,000 compared to $22,726,000 a year ago. Net income was $23,021,000 compared to $21,860,000 a year ago. Earnings per average Class A share, diluted was $4.13 compared to $3.93 a year ago. Return on average assets was 0.59% compared to 0.61% a year ago. Return on average stockholders' equity was 11.26% compared to 11.57% a year ago. Book value per share was $38.53 compared to $34.57 a year ago. Tangible book value per share was $38.04 compared to $34.09 a year ago. The 5.6% increase in net interest income for the period is primarily due to an increase in average earning assets.