SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers |
On October 13, 2020, Dr. Anthony P. Monaco, President of Tufts University, and Dr. O’Neil Britton, Chief Medical Officer and Senior Vice President at Massachusetts General Hospital, were elected, to fill vacancies, to the Century Bancorp Inc. (the “Company”) Board of Directors and the Century Bank and Trust Company (the “Bank”) Board of Directors.
President Monaco has been the President of Tufts University since 2011. President Monaco’s experience in the educational field, which is relevant to certain customer relationships of the Company, has qualified him to serve as director of the Company. President Monaco will serve on the Executive Loan Committee.
Dr. Britton has served as Chief Medical Officer and Senior Vice President at Massachusetts General Hospital (MGH) since 2016. Dr. Britton’s experience in the healthcare field, which is relevant to certain customer relationships of the Company, has qualified him to serve as director of the Company. Dr. Britton will serve on the Asset Liability Committee.
Drs. Monaco and Britton were not elected pursuant to any arrangement or understanding between either of them and any other persons, and there are no transactions between the Company and either of Drs. Monaco and Britton or any of their immediate family members that require disclosure pursuant to Item 404(a) of Regulation S-K.
Drs. Monaco and Britton will receive the Company’s standard non-employee director compensation package for fiscal year 2020, which for a full year of service would include an annual retainer of $20,000, $500 per Company Board meeting attended, $1,000 per Bank Board meeting attended and $1,000 per committee meeting attended.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
99.1 | Century Bancorp, Inc. press release dated October 13, 2020. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CENTURY BANCORP, INC. |
/s/ William P. Hornby |
William P. Hornby, CPA |
Chief Financial Officer and Treasurer |
Dated: October 15, 2020
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: | Barry Sloane | |
BSloane@CenturyBank.com | ||
Phone: | 781-393-4150 |
CENTURY BANK ANNOUNCES ADDITIONS TO BOARD OF DIRECTORS
MEDFORD, MA, Oct. 13, 2020 Century Bank, New Englands largest family-controlled bank, has elected Dr. Anthony P. Monaco, President of Tufts University, and Dr. ONeil Britton, Chief Medical Officer and Senior Vice President at Massachusetts General Hospital, to the Century Bancorp Board of Directors and the Century Bank and Trust Company Board of Directors.
These new members were carefully chosen for their integrity, experience and diverse leadership backgrounds in health care and academia, said Barry R. Sloane, Chairman, President and CEO of Century Bank. The addition of President Monaco and Dr. Britton help ensure we are equipped with the knowledge, skills and perspectives needed as the bank continues to grow. We are fortunate to have them join us.
President Monaco and Dr. Britton embody the values that have been the foundation of Century Bank from the start - a commitment to excellence and best practices, said Linda Sloane Kay, Vice Chair of Century Bank. I know our Board of Directors are looking forward to utilizing their broad range of knowledge and insights.
President Monaco has been the President of Tufts University since 2011. A distinguished leader, scientist and teacher, President Monacos achievements range from discovering the gene responsible for X-linked Duchenne muscular dystrophy to spearheading campus-wide efforts on diversity and inclusion, sexual misconduct prevention, student mental health and sustainable operations. President Monaco has recently taken on a leadership role in defining higher educations mission in assisting community needs in response to COVID-19.
From Wilmington, Delaware, President Monaco earned his undergraduate degree at Princeton University and his M.D. and Ph.D. through Harvard Medical Schools Medical Scientist Training Program.
Dr. Britton has served as Chief Medical Officer and Senior Vice President at Massachusetts General Hospital (MGH) since 2016. Dr. Britton provides administrative oversight to numerous departments at MGH and continues to see patients, teach, and mentor house-officers and students in the role of a hospitalist. Prior to joining MGH, Dr. Britton was the Chief Health Information Officer for Partners Healthcare where he provided leadership in the development and implementation of Partners eCare, an initiative that changed care through the digitization of electronic medical records.
Born in Kingston, Jamaica, Dr. Britton immigrated to New York as a teenager. He is a graduate of the City College of New York and Rutgers New Jersey Medical School. He also completed the Deland Fellowship, an administrative fellowship in health care management at Brigham and Womens Hospital.
About Century Bancorp, Inc.
Century Bank, a subsidiary of Century Bancorp, Inc. (NASDAQ: CNBKA), is a state chartered full service commercial bank, operating twenty-seven, full-service branches in the Greater Boston area, with a full range of business, personal and institutional services. Century Bank is a member of the FDIC and is an Equal Housing Lender.
Corporate Headquarters is located at 400 Mystic Avenue, Medford, MA 02155. Branches are located in Allston, Andover, Beverly, Boston, Braintree, Brookline, Burlington, Cambridge, Everett, Lynn, Malden, Medford, Newton, Peabody, Quincy, Salem, Somerville, Wellesley, Winchester and Woburn. For more information, please visit CenturyBank.com.
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Document and Entity Information |
Oct. 13, 2020 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | CENTURY BANCORP INC |
Amendment Flag | false |
Entity Central Index Key | 0000812348 |
Document Type | 8-K |
Document Period End Date | Oct. 13, 2020 |
Entity Incorporation State Country Code | MA |
Entity File Number | 0-15752 |
Entity Tax Identification Number | 04-2498617 |
Entity Address, Address Line One | 400 Mystic Avenue |
Entity Address, City or Town | Medford |
Entity Address, State or Province | MA |
Entity Address, Postal Zip Code | 02155 |
City Area Code | (781) |
Local Phone Number | 391-4000 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Class A Common Stock, $1.00 par value |
Trading Symbol | CNBKA |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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