Welcome to our dedicated page for Century Next Financial Corporation news (Ticker: CTUY), a resource for investors and traders seeking the latest updates and insights on Century Next Financial Corporation stock.
Century Next Financial Corporation (CTUY) is a holding company of Century Next Bank with over $700 million in assets. The company recently announced financial results for the 3rd quarter and year ended December 31, 2023.
Headquartered in Ruston, Louisiana, Century Next Financial Corporation is led by William D. Hogan, President & Chief Executive Officer, and Mark A. Taylor, Executive Vice President & Chief Financial Officer.
With a focus on financial services and banking, Century Next Financial Corporation continues to grow and expand its presence in the market.
Century Next Financial (OTCQX: CTUY), the holding company of Century Next Bank, reported strong financial results for Q2 2024. Net income increased by 94.7% to $3.06 million compared to Q2 2023. Earnings per share rose to $1.70 from $0.88 year-over-year. For the first half of 2024, net income grew by 117.5% to $5.73 million.
The company's total assets increased by 8.6% to $831.5 million, with significant growth in cash and cash equivalents (30.3%) and investment securities (83.1%). Deposit growth was strong, increasing by 8.8% to $739.7 million. The net interest margin improved to 4.16% for Q2 2024, up from 3.63% in Q2 2023. The company's efficiency ratio decreased substantially to 55.90% for Q2 2024, down from 70.62% in Q2 2023, indicating improved operational efficiency.
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