MEDFORD, Mass. - Century Bancorp said it expects to report its first quarterly loss in 23 years.

The company said it expects to post a third-quarter loss of 48 cents to 52 cents per share.

Century said it would add $800,000 to its loan-loss reserve and reduce the carrying value of other real estate owned by about $1.6 million.

It said the plan was based on preliminary results of a Federal Deposit Insurance Corp. audit.

The company, with about $450 million of assets and three bank subsidiaries, also said it expects to incur $600,000 to $700,000 in additional tax expenses.

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