Exhibit 99.1

 NEWS RELEASE

FOR IMMEDIATE RELEASE

Contact:	Paul V. Cusick, Jr. pcusick@century-bank.com
Phone:	781-393-4601
Fax:	781-393-4071

CENTURY BANCORP, INC. REPORTS SECOND QUARTER RESULTS AND
DECLARES QUARTERLY DIVIDEND

Medford, MA, July 11, 2006—Century Bancorp, Inc. (NASDAQ:CNBKA) (www.century-bank.com) (“the Company”) today announced net income of $973,000, or $0.18 per share diluted, for the second quarter ended June 30, 2006, compared to net income of $2,035,000, or $0.37 per share diluted, for the second quarter of 2005. Excluded from income for the current quarter is approximately $170,000 of expected Federal Home Loan Bank (FHLB) stock dividend income that was not recorded because the FHLB was restricted from declaring the dividend. The dividend is expected to be declared during the third quarter. For the first six months of 2006, net income totaled $2,403,000, or $0.43 per share diluted, compared to net income of $4,077,000, or $0.74 per share diluted, for the same period a year ago. Included in income for 2006 is the previously announced pre-tax gain of $600 thousand from the sale of its rights to future royalty payments for a portion of its Merchant Credit Card customer base.

Net interest income totaled $18.4 million for the first six months ended June 30, 2006, versus $20.9 million for the same period in 2005. The 12.0% decrease in net interest income for the period is mainly due to a decrease of twenty-seven basis points in the net interest margin as well as a $38.1 million or 2.4% decrease in average earnings assets.

At June 30, 2006, total equity was $103.4 million compared to $103.2 million at December 31, 2005. Century’s leverage ratio stood at 8.68% on June 30, 2006, compared to 8.49% for the same period a year ago. Book value as of June 30, 2006 was $18.66 per share compared to $19.22 for the same period last year.

-more-

Century’s allowance for loan losses was $9.6 million or 1.28% of loans outstanding at the end of the second quarter, compared to $9.4 million, or 1.31% of loans outstanding at end of the previous quarter and $9.3 million or 1.35% at December 31, 2005. Non-performing assets totaled $0.3 million at June 30, 2006, compared to $0.2 million at the end of the previous quarter and $1.1 million at June 30, 2005.

Century’s Board of Directors voted a regular quarterly dividend of 12.00 cents ($0.12) per share on Century Class A common stock, and 6.00 cents ($0.06) per share on Century Class B common stock. The dividends were declared payable August 15, 2006 to stockholders of record on August 1, 2006.

Century Bancorp, Inc., through its subsidiary bank, Century Bank and Trust Company, a state chartered full service commercial bank, operating twenty-two full-service branches in the Greater Boston area, offers a full range of Business, Personal and Institutional Services.

Century Bank and Trust Company is a member of the FDIC and is an Equal Housing Lender.

This press release contains certain “forward-looking statements” with respect to the financial condition, results of operations and business of the Company. Actual results may differ from those contemplated by these statements. The Company wishes to caution readers not to place undue reliance on any forward-looking statements. The Company disclaims any intent obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise.

Century Bancorp, Inc. and Subsidiaries
Consolidated Comparative Statements of Condition
(000’s)

	(unaudited)
	June 30,		December 31,
Assets	2006		2005
Cash and Due From Banks	$	51,669	$	47,626
Federal Funds Sold and Interest-bearing Deposits In Other Banks		38,219		105,053
Securities Available-For-Sale (AFS)		480,318		532,982
Securities Held-to-Maturity		275,585		286,578
Loans:
Commercial & Industrial		109,078		94,139
Construction & Land Development		69,090		58,846
Commercial Real Estate		320,410		302,279
Residential Real Estate		159,823		146,355
Consumer and Other		15,036		11,316
Home Equity		71,694		76,710
Total Loans		745,131		689,645
Less: Allowance for Loan Losses		9,551		9,340
Net Loans		735,580		680,305
Bank Premises and Equipment		23,888		25,228
Accrued Interest Receivable		6,927		7,127
Goodwill		2,714		2,714
Core Deposit Intangible		2,253		2,447
Other Assets		42,679		38,709
Total Assets	$	1,659,832	$	1,728,769
Liabilities
Demand Deposits	$	273,543	$	296,696
Interest Bearing Deposits:
Savings and NOW Deposits		283,410		239,326
Money Market Accounts		332,322		279,245
Time Deposits		358,598		401,773
Total Interest Bearing		974,330		920,344
Total Deposits		1,247,873		1,217,040
Borrowed Funds:
Securities Sold Under Agreements to Repurchase		139,460		50,010
Other Borrowed Funds		114,324		304,722
Total Borrowed Funds		253,784		354,732
Other Liabilities		18,698		17,713
Subordinated Debentures		36,083		36,083
Total Liabilities		1,556,438		1,625,568
Total Stockholders’ Equity		103,394		103,201
Total Liabilities & Stockholders’ Equity	$	1,659,832	$	1,728,769

Century Bancorp, Inc. and Subsidiaries
Consolidated Comparative Statements of Income (unaudited)
For the Quarter and Year-to-date ending
June 30, 2006 and 2005 (000’s)

	Quarter				Year-to-date
	2006		2005		2006		2005
Interest Income:
Loans	$	12,912	$	10,086	$	24,847	$	19,284
Securities Held-to-Maturity		2,555		2,988		5,168		6,184
Securities Available-for-Sale		4,215		4,999		8,824		9,934
Federal Funds Sold and Interest-bearing Deposits In Other Banks		51		9		81		332
Total Interest Income		19,733		18,082		38,920		35,734
Interest Expense:
Savings and NOW Deposits		1,159		933		2,082		1,648
Money Market Accounts		2,361		1,769		4,139		3,480
Time Deposits		3,731		1,938		6,912		3,995
Securities Sold Under Agreements to Repurchase		785		130		1,200		230
Other Borrowed Funds and Subordinated Debentures		2,620		2,957		6,183		5,477
Total Interest Expense		10,656		7,727		20,516		14,830
Net Interest Income		9,077		10,355		18,404		20,904
Provision For Loan Losses		225		150		375		300
Net Interest Income After Provision for Loan Losses		8,852		10,205		18,029		20,604
Other Operating Income
Service Charges on Deposit Accounts		1,702		1,537		3,218		2,965
Lockbox Fees		762		786		1,437		1,495
Brokerage Commissions		30		139		78		292
Net (Losses) Gains on Sales of Securities		0		0		0		0
Other Income		279		457		1,167		832
Total Other Operating Income		2,773		2,919		5,900		5,584
Operating Expenses
Salaries		4,557		4,588		9,268		9,218
Employee Benefits		1,444		1,363		2,981		2,836
Occupancy		921		943		1,966		1,929
Equipment		785		714		1,520		1,496
Other		2,418		2,508		4,555		4,671
Total Operating Expenses		10,125		10,116		20,290		20,150
Income Before Income Taxes		1,500		3,008		3,639		6,038
Income Tax Expense
Provision for Income Taxes		527		973		1,236		1,961
Total Income Tax Expense		527		973		1,236		1,961
Net Income	$	973	$	2,035	$	2,403	$	4,077

Century Bancorp, Inc. and Subsidiaries
Consolidated Year-to-Date Average Comparative Statements of Condition (unaudited)
June 30, 2006 and 2005 (000’s)

	June 30,		June 30,
Assets	2006		2005
Cash and Due From Banks	$	57,413	$	53,482
Federal Funds Sold and Interest-Bearing Deposits in Other Banks		3,616		30,411
Securities Available-For-Sale (AFS)		526,206		593,086
Securities Held-to-Maturity		281,173		328,643
Total Loans		717,833		614,742
Less: Allowance for Loan Losses		9,453		9,176
Net Loans		708,380		605,566
Bank Premises and Equipment		24,653		26,453
Accrued Interest Receivable		7,575		7,525
Goodwill		2,714		2,714
Core Deposit Intangible		2,359		2,741
Other Assets		25,932		25,274
Total Assets	$	1,640,021	$	1,675,895
Liabilities
Demand Deposits	$	281,730	$	284,738
Interest Bearing Deposits:
Savings and NOW Deposits		284,437		330,911
Money Market Accounts		317,309		398,167
Time Deposits		334,034		265,699
Total Interest Bearing		935,780		994,777
Total Deposits		1,217,510		1,279,515
Borrowed Funds:
Securities Sold Under Agreements to Repurchase		65,288		36,004
Federal Home Loan Bank Advances and Other Borrowed Funds		198,365		201,983
Total Borrowed Funds		263,653		237,987
Other Liabilities		19,069		16,362
Subordinated Debentures		36,083		37,557
Total Liabilities		1,536,315		1,571,421
Total Stockholders’ Equity		103,706		104,474
Total Liabilities & Stockholders’ Equity	$	1,640,021	$	1,675,895
Total Average Earning Assets — QTD	$	1,530,621	$	1,547,894
Total Average Earning Assets — YTD	$	1,528,828	$	1,566,882

Century Bancorp, Inc. and Subsidiaries
Consolidated Selected Key Financial Information (unaudited)
June 30, 2006 and 2005
(dollars in thousands, except share data)

	2006			2005
Performance Measures:
Earnings per average share, basic, quarter	$	0.18		$	0.37
Earnings per average share, diluted, quarter	$	0.18		$	0.37
Earnings per average share, basic , year-to-date	$	0.43		$	0.74
Earnings per average share, diluted, year-to-date	$	0.43		$	0.74
Return on average assets, year-to-date		0.30	%		0.49	%
Return on average stockholders’ equity, year-to-date		4.67	%		7.87	%
Net interest margin (taxable equivalent), quarter		2.38	%		2.68	%
Net interest margin (taxable equivalent), year-to-date		2.40	%		2.67	%
Efficiency ratio, year-to-date		83.5	%		76.1	%
Book value per share	$	18.66		$	19.22
Tangible book value per share	$	17.76		$	18.25
Tangible capital/tangible assets		5.95	%		6.14	%
Common Share Data:
Average shares outstanding, basic, quarter		5,541,088			5,535,317
Average shares outstanding, basic, year-to-date		5,540,807			5,534,986
Average shares outstanding, diluted, quarter		5,541,088			5,540,598
Average shares outstanding, diluted, year-to-date		5,543,598			5,542,253
Shares outstanding Class A		3,483,638			3,435,677
Shares outstanding Class B		2,057,450			2,099,640
Total shares outstanding		5,541,088			5,535,317
Assets Quality and Other Data:
Allowance for loan losses / loans		1.28	%		1.44	%
Nonaccrual loans	$	289		$	646
Nonperforming assets	$	289		$	1,128
Loans 90 days past due and still accruing	$	4,163		$	1,402
Net charge-offs (recoveries)	$	164			($144	)
Leverage ratio		8.68	%		8.49	%
Tier 1 risk weighted capital ratio		15.31	%		16.07	%
Total risk weighted capital ratio		16.34	%		17.15	%
Total risk weighted assets	$	933,270		$	874,802