237:'s sidewalk at 102 Fellsway West in Somerville. The Bank's beginning started in early 1968 with the idea of one man, Marshall M. Sloane, as there was a great need for a community-based commercial bank in Somerville. By November 21, 1968, he and 20 other businessmen were granted a charter to establish the Century Bank & Trust Company. On January 10, 1969 Century Bank was incorporated, becoming the first new bank in Somerville since the mid-1800s. Opening day in the trailer saw President Marshall M. Sloane and seven employees realize the fruits of their labor. Without any promotional efforts, the new bank took in $ 1.1 million in deposits for a profitable first day. In four weeks, deposits had grown to $ 4 million; in eight weeks they were over $ 7 million; and by December 31, 1969, the total assets had passed the $ 17 million mark. Century Bank had become the fastest growing bank in Massachusetts history in its first year of operation.
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and at one point became the state's largest family-run bank. Century Bank had over $ 6 billion in assets with 27 offices in 19 cities and towns in
Massachusetts. Marshall’s son, Barry Sloane, sat as Chairman, President & CEO while Marshall’s daughter, Linda Sloane Kay, was the Bank’s Vice Chair.
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Century Bank was a lender to local businesses, municipalities, not-for-profit organizations and families. Headquartered in
Medford, MA, Century Bank employed more than four hundred staff.
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On April 7, 2021, Eastern
Bankshares announced that they are merging with Century Bank with Eastern as the remaining bank. The merger completed on November 12, 2021.
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Century Bank was acknowledged annually in the Boston Globe 100 as one of the top performing publicly traded companies in
Massachusetts.
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On May 1, 1969, Century Bank and Trust
Company officially opened its doors in a temporary trailer parked on the
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Marshall M. Sloane, Founder; Barry R. Sloane, Chairman, President & CEO; Linda Sloane Kay, Vice Chair
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http://www.snl.com/Cache/1001208150.PDF?Y=&O=PDF&D=&FID=1001208150&T=&IID=100209
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http://www.snl.com/Cache/1500101402.PDF?Y=&O=PDF&D=&FID=1500101402&T=&IID=100209
326:"Century Bank Honored to Make Fourth Appearance on Sandler O'Neill + Partners' "Sm-All Stars" List"
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