The parent company of Medford-based Century Bank announced record earnings for the third quarter of 2019. Century Bancorp Inc.’s third quarter net income of $10.084 million, or $1.81 per class A share diluted, increased 5.2 percent compared to net income of $9.581, or $1.72 per class A share diluted, for the same period a year ago.

For the first three quarters of 2019, Century Bancorp had net income of $28.967 million, or $5.20 per class A share diluted, an increase of 10.2 percent compared to net income of $26,288 million or $4.72 per class A share diluted, for the same period a year ago.

Total assets increased 2.6 percent from $5.16 billion at the end of 2018 to $5.30 billion on Sept. 30, 2019.

Net interest income totaled $70.5 million for the nine months ending Sept. 30, compared to $68.9 million for the same period in 2018. The 2.3 percent increase in net interest income for the period is primarily due to an increase in average earning assets, according to a statement from Century Bancorp. The net interest margin decreased 11 basis points from the same period last year to 2.08 percent at the end of the third quarter 2019. This change primarily resulted from increased rates paid on deposits.

The company’s allowance for loan losses was $29.1 million or 1.22 percent of loans outstanding at Sept. 30, compared to $28.5 million or 1.25 percent of loans outstanding at Dec. 31, 2018, and $28.5 million or 1.26 percent of loans outstanding at Sept. 30, 2018. Non-performing assets totaled $1.1 million at Sept. 30, 2019, compared to $3.5 million at Dec. 31, 2018, and $3.7 million at September 30, 2018. Nonperforming assets decreased from the same period last year, mainly as a result of the resolution of one residential real estate property during the third quarter of 2019.