Eastern Will Triple Market Share in Key County with Century Deal Apr 8, 2021 | Reprints | Print Boston-based Eastern Bank will make its first bank acquisition since going public six months ago by acquiring Medford-based Century Bank in an all-cash deal valued at $642 million. The move will triple Eastern’s market share in Middlesex County and mark its entry into marijuana banking. The banks announced the deal in a statement Wednesday evening. The merger agreement has been unanimously approved by both boards of directors, the banks said in the statement. Eastern said it would use cash on hand from its balance sheet to fund the purchase. Century shareholders will receive $115.28 in cash for each share of Century Bancorp Inc.’s common stock, and the $642 million purchase price represents 1.75 times Century’s tangible book value as of Dec. 31, according to the statement.