Central Bancorp, Inc. operates as the bank holding company for Central Co-operative Bank that provides commercial banking services in the northwestern suburbs of Boston, Massachusetts. The bank engages in generating deposits and originating loans. Its deposit products include demand, savings, passbook, money market, and term deposits, as well as negotiable order of withdrawal accounts. The bank's loan portfolio comprises real estate residential, commercial, construction, and home equity lines of credit; commercial loans; and consumer loans. It also offers automated teller machine and Internet banking services. The bank primarily invests in the U.S. government and agency obligations, corporate bonds, and mortgage-backed securities. As of December 31, 2004, it operated eight office facilities in Somerville, Arlington, Burlington, Chestnut Hill, Malden, Melrose, and Woburn, Massachusetts; and a limited service high school branch in Woburn, Massachusetts. Central Bancorp was founded in 1915 and is based in Somerville, Massachusetts.
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