Founded 1969, Century Bancorp (NASDAQ:CNBKA) is a community bank out of Massachusetts. It has strong relationships with local governments and holds more deposits of local municipalities than any other Massachusetts chartered bank. It is also a classic example of a bank avoiding mark-to-market losses by switching bond classifications from "available-for-sale" to "held-to-maturity." They have taken this action in response to the recent increases in interest rates.
Broadly speaking, the bank has had an excellent record over the past decade with its commercial real estate lending, which currently makes up 54% of its loan portfolio.
Given the bank's successful record in commercial real estate lending, its ability to escape unscathed in financial crisis, and its strategy of building relationships...
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