CENTURY BANCORP INC: insider trades · United States · SEC (Form 4)

About CENTURY BANCORP INC

CENTURY BANCORP INC (ticker: CNBKA) was a U.S. bank holding company listed on the Nasdaq market in the United States before being acquired by Eastern Bankshares in November 2021. For investors, it represented a traditional New England regional banking story: a locally rooted franchise centered on Massachusetts, with historical ties to the greater Boston area and a footprint that extended across Massachusetts and into southern New Hampshire. The holding company was formed in 1972, while its operating bank, Century Bank and Trust Company, was established in 1969. Its headquarters were in Medford, Massachusetts, underscoring its identity as a relationship-driven community bank rather than a national-scale financial institution. ([sec.gov](https://www.sec.gov/Archives/edgar/data/812348/000095012311024755/b83976e10vk.htm?utm_source=openai)) Century Bancorp’s business model was built around full-service commercial, retail, and institutional banking. Its earnings were primarily driven by net interest income — loans and securities funded by deposits and borrowings — with an additional contribution from fee-based services. SEC filings describe offerings such as deposit-related services, cash-management solutions, an automated lockbox collection system, and securities brokerage services delivered through LPL Financial. This combination positioned the company as a regional bank focused on small and medium-sized businesses, consumer banking clients, local governments, and institutions, rather than on capital markets or large-scale investment banking activities. ([sec.gov](https://www.sec.gov/Archives/edgar/data/812348/000095012311024755/b83976e10vk.htm?utm_source=openai)) Competitively, Century’s strength came from its local franchise, customer relationships, and long operating history in one of the most attractive banking markets in the Northeast. Before the merger, it operated a network of banking offices across multiple cities and towns in Massachusetts, supported by a community-oriented approach and a diversified local deposit base. That regional specialization offered a degree of resilience, but it also meant the company remained exposed to interest-rate cycles, credit quality trends, and deposit competition in its core markets. ([sec.gov](https://www.sec.gov/Archives/edgar/data/812348/000095012311024755/b83976e10vk.htm?utm_source=openai)) The most important recent corporate event was the agreed sale to Eastern Bankshares, announced in April 2021 and completed on November 12, 2021. Under the merger terms, Century shareholders received $115.28 in cash per share, and the deal was valued at approximately $642 million. Eastern said the transaction expanded its presence in Boston and Eastern Massachusetts and brought Century’s franchise into a larger regional banking platform. As a result, CNBKA is no longer an actively traded standalone operating story, but it remains relevant for historical SEC Form 4 insider-transaction review and for understanding the evolution of U.S. regional banking consolidation. ([investor.easternbank.com](https://investor.easternbank.com/news/news-details/2021/Eastern-Bankshares-Inc.-Announces-Completion-Of-Merger-With-Century-Bancorp-Inc/default.aspx?utm_source=openai))