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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Item 1.01 | Entry into Material Definitive Agreement |
On February 17, 2021, Century Bancorp, Inc.’s wholly owned subsidiary, Century Bank and Trust Company, entered into material definitive agreements with Barry R. Sloane and Linda Sloane Kay (the “Insureds”), copies of which are attached hereto as Exhibit 99.1 and 99.2 and incorporated herein by reference. The amended and restated agreements provide life insurance protection for each Insured’s family in the event of the Insured’s death. The death benefit increased to $20,000,000 from $10,000,000 for Barry R. Sloane and increased to $10,000,000 from $5,000,000 for Linda Sloane Kay.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
99.1 | Split Dollar Life Insurance Agreement between Century Bank & Trust Company and Barry R. Sloane, as amended and restated, dated February 17, 2021. | |
99.2 | Split Dollar Life Insurance Agreement between Century Bank & Trust Company and Linda Sloane Kay, as amended and restated, dated February 17, 2021. | |
Exhibit 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: February 18, 2021