BNET Industries
Market Cap:$13.5M
Last Fiscal Year Sales:$32.0M
- Public
- US
Dow Jones Description
Central Bank, whose legal name is Central Co-Operative Bank, was founded in 1915 as a Massachusetts chartered co-operative bank to provide savings deposits and originate mortgage loans. Between 1970 and 1982, the Bank grew through mergers with six other Massachusetts co-operative banks. In October 1986, Central Bank became a public company by converting to a capital stock co-operative bank. In 1994, Central Bank acquired Metro Bancorp, Inc., the parent company of Metropolitan Bank and Trust Company. In 1999, Central Bancorp, Inc., became the holding company for Central Bank. Central Bank is a full-service community banking operation that provides a variety of deposit and lending services --- including savings and checking accounts for retail and business customers, mortgage loans for constructing, purchasing and refinancing residential and commercial properties, and loans for education, home improvement and other purposes.
Chairman, President & CEO
John D. DohertyNumber of Employees 97
Contact Information
399 Highland Ave
Somerville, Massachusetts 02144-2516
(617) 628-4000
Peer Companies
NAICS Code Other Depository Credit Intermediation: 522190
Recent Events
-
Central Bancorp, Inc. Reports Financial Results for the Three and Six Months Ended September 30,...
-
Lenders tough on small biz
-
Central Bancorp, unit EVP to retire
-
Central Bancorp, Inc. Reports Financial Results for the Quarter Ended June 30, 2009
-
Central Bancorp, Inc.: Central Bancorp, Inc. Holds 2009 Annual Stockholders Meeting
-
Central Bancorp, Inc. Declares Quarterly Common Stock Cash Dividend
News & Analysis
Filter by
central bancorp inc. - All News and Analysis
Bank Closures for Friday August 28, 2009
Ray submits: Here are bank closures for August 28, 2009. These represent the 82nd, 83rd and 84th closures so far this year. I will update you as more closures come in. Banks_____________State___________Assets_________Deposits by Ray
Central Bancorp, Inc. Declares Its Regular Quarterly Cash Dividend
SOMERVILLE, Mass.--BUSINESS WIRE--July 8, 1999-- Central Bancorp, Inc.(NASDAQ:CEBK) announced that its Board of Directors has declared a regular quarterly cash dividend of eight cents(.08) per share. The dividend is payable on August 20 1999 to record holders as August 6, 1999. Central Bancorp, Inc., is the holding company...
- 1
Decision Makers
| Name (plus bio) | Position |
|---|---|
| William P. Morrissey | President and Director |
| Paul S. Feeley | CFO, Treasurer & Senior Vice President |
| David W. Kearn | Executive Vice President Senior Lending Officer of The Bank |
| Paula Corsetti | Vice President, Marketing, Central Bank |
| Rhoda K. Astone | Vice President & Clerk |
| Shirley M. Tracy | Senior Vice President, Director of Human Resources |
| Bryan E. Greenbaum | |
| Edward F. Sweeney | Management Advisor |
| James F. Linnehan | Attorney |
| Stephen A. Calhoun |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| John D. Doherty | Chairman, President & CEO |
| Paul E. Bulman | Chairman of The Policy Holders Protective Board |
| Albert J. Mercuri | Board of Directors |
| Gregory W. Boulos | Board of Directors |
| John J. Morrissey | Board of Directors |
| Richard E. Stevens | Board of Directors |
| Robert J. Hardiman | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Chairman, President & CEO | Current |
| Central Cooperative Bank | Chairman & CEO | Current |
| Economy Club | President | Former |
| Babson College | M.B.A. Degree | Former |
| Babson College | B.A. In Business Administration | Former |
William P. Morrissey was appointed President and Chief Operating Officer of the Company and the Bank in February 2009. Mr. Morrissey joined the Bank in November 1992 and was promoted to the position of Executive Vice President and Chief Operating Officer of the Bank in April 2005. Until his promotion, he served as Senior Vice President for Corporate Affairs. Mr. Morrissey is a former chairman and a former member of the Board of Directors of the Federal Home Loan Bank of Boston. Prior to 1992, Mr. Morrissey served as Executive Vice President for Corporate Affairs at The Boston Five Cents Savings Bank and as Deputy Commissioner of Banks for the Commonwealth of Massachusetts. Mr. Morrissey is the father of Director John J. Morrissey.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | President and Director | Current |
| Central Bancorp, Inc. | Board of Directors | Current |
| Federal Home Loan Bank | Board of Directors | Current |
| The Savings Bank | Executive Vice President for Corporate Affairs | Former |
| Organization | Position | Status |
|---|---|---|
| Central Cooperative Bank | CFO, Treasurer & Senior Vice President | Current |
| Central Bancorp, Inc. | CFO, Treasurer & Senior Vice President | Current |
| Massachusetts Society of CPAs | Board of Directors | Current |
| Financial Managers Society, Inc | Board of Directors | Current |
| The Cooperative Bank | Chief Financial Officer | Former |
| The Cooperative Bank | Executive Vice President | Former |
| Central Cooperative Bank | Senior Vice President & Treasurer | Former |
| Bridgewater Credit Union | Senior Vice President | Former |
| The Cooperative Bank | Clerk | Former |
| Bridgewater Credit Union | Treasurer | Former |
David W. Kearn , 67, joined the Bank in June 1993 and was promoted to the position of Executive Vice President Senior Lending Officer of the Bank in April 2005. Until his promotion, he served as the Senior Vice President Lending of the Company and the Bank. From 1990 to 1993, Mr. Kearn was a Vice President of Loan Administration at Somerset Savings Bank, Somerville, Massachusetts and was Senior Vice President/Branch Administration at United States Trust Company from 1987 to 1990. He is a former Director of the Somerville Boys Club. He also serves as a Director of the Bank s subsidiaries, Central Securities Corporation and Central Securities Corporation II and as a Manager of the Bank s subsidiary Metro Real Estate Holding, LLC.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Executive Vice President Senior Lending Officer of The Bank | Current |
| Somerset Savings Bank SLA Inc. | Vice President of Loan Administration | Former |
| Massachusetts, Inc. | Vice President of Loan Administration | Former |
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Vice President, Marketing, Central Bank | Current |
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Vice President & Clerk | Current |
Shirley M. Tracy , 54, joined the Bank in October 1982 and was promoted to the position of Senior Vice President/Director of Human Resources in October 2004. Until her promotion, she served as Vice President/Director of Human Resources from 1993 to 2004. From 1978 to 1982, Ms. Tracy served in various positions at the Volunteer Cooperative Bank in Boston. Ms. Tracy received the Certificate in Human Resources Administration from Bentley College and holds an undergraduate degree from Regis College.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Senior Vice President, Director of Human Resources | Current |
| Regis College | Undergraduate Degree | Former |
| Bentley College | Certificate In Human Resources Administration | Former |
Bryan E. Greenbaum , 46, joined the Bank in January 2005 as Senior Vice President of Retail Banking. From 2000 to 2004, Mr. Greenbaum served as Vice President of Branch Administration and later as Senior Vice President of Retail Banking at Abington Savings Bank. Previous to 2000, Mr. Greenbaum held various retail management positions at both Salem Five Cents Savings Bank and Warren Five Cents Savings Bank.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Current | |
| Abington Savings Bank | Senior Vice President of Retail Banking | Former |
| Abington Savings Bank | Vice President of Branch Administration | Former |
Edward F. Sweeney, Jr. is self-employed as a financial/management advisor. Since December 2002, he has served as a business consultant to the Malden Redevelopment Authority, an agency funded by the Department of Housing and Urban Development to work with communities to promote home ownership for low and moderate income families. In October 2005, Mr. Sweeney was also appointed to serve as Commissioner of the Department of Public Works. From March 1999 to October 2005, Mr. Sweeney served as Commissioner and former Chairman of the Malden Housing Authority. From May 1998 to December 2000, he served as Senior Vice President of US Trust, a $6 billion multi-bank holding company in Boston, Massachusetts. From 1996 to May 1998, Mr. Sweeney served as Senior Vice President of Somerset Savings Bank, Somerville, Massachusetts. From 1994 to 1996, Mr. Sweeney was President, Chief Executive Officer and a Director of Meetinghouse Co-operative Bank in Dorchester, Massachusetts. From 1966 to 1994, Mr. Sweeney served with the Division of Banking for the Commonwealth of Massachusetts. He retired as Senior Deputy Commissioner in 1994.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Management Advisor | Current |
| Central Bancorp, Inc. | Board of Directors | Current |
| Somerset Savings Bank SLA Inc. | Senior Vice President | Former |
James F. Linnehan is an attorney and a Certified Public Accountant. Mr. Linnehan has served as the Assistant Attorney General for the Commonwealth of Massachusetts and as a Special Investigator for the Suffolk County District Attorney s office. He is a life trustee of the Board of Trustees of Suffolk University. He is a former director and chairman of the audit and trust committees of BayBank Middlesex.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Attorney | Current |
| Central Bancorp, Inc. | Board of Directors | Current |
Stephen A. Calhoun , 56, joined the Bank in January 2005 as Senior Vice President, Chief Information Officer. From 1999 to 2004, Mr. Calhoun served as Senior Vice President of Information Technology for First Essex Bank/Sovereign Bank in Andover, Massachusetts. Previous to 1999, Mr. Calhoun was Vice President of Operations and Systems for Somerset Bank/U.S. Trust.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Current |
Paul E. Bulman has served as Chairman of the Policy Holders Protective Board of the Savings Bank Life Insurance Company since 2000. From 1996 to 2000, he was President and Chief Executive Officer of Haymarket Co-operative Bank. Mr. Bulman had previously served as President, Chief Executive Officer and Director of Hingham Institution for Savings, which he had joined in 1988. Prior to that, he had been Senior Vice President, Lending at New Bedford Institution for Savings since 1987. Mr. Bulman served as Commissioner of Banks for the Commonwealth of Massachusetts from 1983 to 1987 after serving as First Deputy Commissioner and Clerk, Deputy Commissioner, Bank Supervisor and Director, Commercial Bank Examinations. He joined the State Banking Department in 1960. Mr. Bulman is a volunteer at the Scituate Senior Center.
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Chairman of The Policy Holders Protective Board | Current |
| Hingham Institution for Savings | Chief Executive Officer | Former |
| Hingham Institution for Savings | President | Former |
| Hingham Institution for Savings | Director | Former |
Albert J. Mercuri, Jr. has served since 1987 as President and Chief Executive Officer of Data Direct, Inc., a national distributor of digital media publishing systems, optical media and copiers, located in Needham Heights, Massachusetts. Mr. Mercuri is a 1979 graduate of Babson College where he earned a Bachelor of Science degree in Marketing.
| Organization | Position | Status |
|---|---|---|
| Data Direct, Inc. | Chief Executive Officer | Current |
| Data Direct, Inc. | President | Current |
| Central Bancorp, Inc. | Board of Directors | Current |
| Data Direct, Inc. | Owner | Former |
| Babson College | Former |
Gregory W. Boulos is a partner in CB Richard Ellis/The Boulos Company of Portland, Maine, which is Maine s largest commercial real estate brokerage and development firm, specializing in the sale and leasing of commercial/industrial properties and the brokerage of investment properties. Mr. Boulos is a past Director of Junior Achievement, The Center for Dental Health, Mercy Hospital and The Portland Symphony Orchestra. He is also a past Chairman of both the Cumberland County Civic Center and Catholic Charities Maine Board of Directors. Mr. Boulos is a member of the Portland Chamber of Commerce, the Maine Commercial Association of Realtors and the National Association of Realtors and Director of Wayneflete School.
| Organization | Position | Status |
|---|---|---|
| Maine Commercial Association of Realtors | Board of Directors | Current |
| Portland Chamber of Commerce | Board of Directors | Current |
| Central Bancorp, Inc. | Board of Directors | Current |
| Cumberland County Civic Center | Chairman | Former |
John J. Morrissey is a partner with the law firm of Quinn and Morris in Boston, Massachusetts. Since 1999, he has served as a member of the Board of Bar Overseers Hearing Committee for Plymouth and Norfolk Counties in Massachusetts, which investigates complaints of attorney misconduct and makes findings and recommendations for discipline to the Supreme Judicial Court. Since 2000, Mr. Morrissey has served as a member of the Medical Malpractice Tribunal for Suffolk County, Massachusetts, which hears medical malpractice claims to determine if the evidence is sufficient for judicial inquiry without posting a statutory bond. Mr. Morrissey also serves as a member of the Board of Governors of the Massachusetts Academy of Trial Attorneys, as a Regional Delegate of the Massachusetts Bar Association and as a member of the Executive Management Board of the Massachusetts Bar Association. John J. Morrissey is the son of Director William P. Morrissey, the Company s and the Bank s President.
| Organization | Position | Status |
|---|---|---|
| Massachusetts Bar Association | Regional Delegate | Current |
| Central Bancorp, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Central Bancorp, Inc. | Board of Directors | Current |
| Federal Savings Bank | Director | Former |
Industry Transcripts by Seeking Alpha
-
Navios Maritime Holdings Inc. Q3 2009 Earnings Call Transcript
on Nov 18, 2009about NM
-
Progressive Corp. Q3 2009 Earnings Call Transcript
on Nov 11, 2009about PGR
-
Nelnet Inc. Q3 2009 Earnings Call Transcript
on Nov 10, 2009about NNI
-
American Apparel Q3 2009 Earnings Call Transcript
on Nov 10, 2009about APP
-
MBIA Inc. Q3 2009 Earnings Call Transcript
on Nov 10, 2009about MBI
IndustryTop Rated
- As Income Mobility Falls, American Dream Fades 7 votes
- Creative Destruction and the new Money Trust 6 votes
- Geithner Deal With Wall Street Over AIG Swaps Cost Taxpayers $13 Billion 4 votes
- Civil Rights Group Teams With Wells Fargo Despite Charges of Predatory Lending 4 votes
- Analyst: Banking Industry Risks "Implosion" 3 votes

