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Century Bancorp (CNBKA) in Medford, Mass., reported higher first-quarter results from lower credit costs and securities gains.
April 10
Century Bancorp's loss was Randolph Savings Bank's gain.
Century (CNBKA), a $3.2 billion-asset company in Medford, Mass., said in a regulatory filing Thursday that James McDonough had resigned as a director to become CEO of Randolph Savings in Stoughton, Mass.
McDonough, who joined Century's board last May, had been the CEO of Abington Savings Bank in Massachusetts for 12 years starting in 1992. He later served for six years as chief financial officer of the Roman Catholic Archdiocese of Boston.
Randolph has $387 million in assets and eight branches in Massachusetts and Rhode Island. Century has 25 branches around Boston.
A spokesperson for Randolph Savings Bank did not respond immediately to a request for comment.
On Monday, Century reported that its first-quarter earnings rose 18% from a year earlier, to $4.5 million.
