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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): June 16, 1999
Century Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
North Carolina 000-21881 56-1981518
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
22 Winston Street
Thomasville, North Carolina 27360
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(Address of principal executive offices)
Registrant's telephone number, including area code: (336) 475-4663
N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On June 16, 1999, Century Bancorp, Inc. (the "Registrant") announced
that its Board of Directors had amended its stock repurchase plan to delete a
provision which prevented the Registrant from using more than 10% of its
consolidated net worth to make repurchases during any 12 month period. A copy of
the press release announcing the amendment of the stock repurchase plan is
attached hereto as Exhibit 99.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CENTURY BANCORP, INC.
Date: June 18, 1999 By: /s/ James G. Hudson, Jr.
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James G. Hudson, Jr., President
and Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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99 Press Release of the Registrant distributed June 16, 1999
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FOR IMMEDIATE RELEASE
DATE: June 16, 1999
FOR ADDITIONAL INFORMATION
James G. Hudson, Jr., President
Century Bancorp, Inc.
(336) 475-4663
CENTURY BANCORP, INC. ANNOUNCES
AMENDMENT TO STOCK REPURCHASE PLAN
James G. Hudson, Jr., President of Century Bancorp, Inc., Thomasville,
North Carolina, announced that the Company's Board of Directors has adopted an
amendment to its stock repurchase plan. The amendment deleted a provision to the
stock repurchase plan which provided that Century Bancorp could not use more
than 10% of its consolidated net worth to make repurchases during any 12 month
period. Under the amended plan, Century Bancorp could use more than 10% of its
consolidated net worth to make repurchases during a 12 month period if no
applicable federal or state law, rule or regulation would be violated.
As of March 31, 1999, Century Bancorp had consolidated assets of
$91,757,720, consolidated stockholders' equity of $18,320,162 and 1,194,719
shares outstanding. The company's wholly owned subsidiary, Home Savings, Inc.,
SSB, is located in Thomasville, North Carolina. Century Bancorp's common stock
is listed for quotation on the Nasdaq Small Cap market under the symbol "CENB".