Century Bancorp (CNBKA) Reports Q2 EPS of $1.12

Century Bancorp (NASDAQ: CNBKA) reported Q2 EPS of $1.12, versus $1.06 reported last year.

Net interest income totaled $36.1 million for the six months ended June 30, 2016 compared to $34.1 million for the same period in 2015. The 5.8% increase in net interest income for the period is primarily due to an increase in average earning assets. The net interest margin was stable at 2.16% on a fully taxable equivalent basis for the first six months of 2016 compared to the same period in 2015. This was primarily the result of relatively stable earning asset yields and rates paid on interest-bearing liabilities. The average balances of earning assets increased by 7.2% combined with a similar increase in average deposits. Also, interest expense increased 12.1% as a result of an increase in deposit balances.

For earnings history and earnings-related data on Century Bancorp (CNBKA) click here.

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