Century Next Financial Corporation reports recurring financial updates as the holding company for Century Next Bank, a full-service community bank based in Ruston, Louisiana. The bank serves small and medium-sized businesses, professionals, and individuals through offices in Louisiana and Arkansas, with residential and commercial real estate lending as a primary business.
Company news centers on quarterly and year-end results, including net income, earnings per share, asset and deposit growth, credit-loss provisions, operating ratios, and board-approved cash dividends. Updates also describe the bank subsidiary’s regulatory status as an insured federally chartered covered savings association supervised by the Office of the Comptroller of the Currency.
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Century Next Financial Corporation (OTCQX: CTUY) announced its Q1 2023 financial results with net income of $1.06 million, a 3.1% decrease from $1.09 million in Q1 2022. Earnings per share (EPS) fell to $0.59 from $0.62 year-over-year. Total assets increased by 8.2% to $696 million, driven by a significant increase in cash and cash equivalents, which rose by 56.9% to $66.5 million. Loans increased 4.7% to $563.4 million, while deposits grew 9.1% to $611.3 million. However, non-interest income decreased 14.9% to $781,000, primarily due to lower mortgage-related income. The dividend of $0.32 per share was declared, payable on June 8, 2023.
Century Next Financial Corporation (OTCQX: CTUY) reported a net income of $5.22 million for the year ending December 31, 2022, up 9.3% from $4.78 million in 2021. The company's earnings per share rose to $2.94 from $2.73. Total assets increased by 16.2% to $643.3 million, driven by a 23.0% increase in net loans, totaling $537.9 million. Deposits also saw an 18.1% increase, reaching $560.4 million. However, net interest income grew modestly by 0.9%, while non-interest income fell by 4.8%. The efficiency ratio worsened to 71.19%. Nonperforming assets rose to $1.64 million, indicating an increase in loans past due and nonaccrual loans.
Century Next Financial Corporation (OTCQX: CTUY) announced its 3rd quarter financial results for 2022, reporting a net income of $1.48 million, down 11.1% from $1.67 million in Q3 2021. Earnings per share (EPS) decreased to $0.84 from $0.95 year-over-year. However, year-to-date net income rose 30.6% to $4.06 million compared to $3.11 million in 2021, with EPS increasing from $1.78 to $2.29. Total assets grew by 13.8% to $629.7 million, driven by a 19.1% increase in net loans, primarily in commercial real estate. Non-interest income fell 13.8% in Q3, while expenses rose by 3.8%.
Century Next Financial Corporation (OTCQX: CTUY) announced impressive financial results for Q2 2022, with net income soaring to $1.49 million, a remarkable 860% increase year-over-year. Earnings per share (EPS) also rose significantly to $0.84, up from $0.09 in Q2 2021. Total assets climbed to $619.7 million, marking a 12% increase, driven primarily by a 15.9% growth in net loans. Despite a notable rise in nonperforming assets, the company declared a cash dividend of $0.30 per share. The increase in earnings was influenced by a one-time reserve adjustment in the previous year.
Century Next Financial Corporation (OTCQX: CTUY) reported its Q1 2022 financial results with a net income of $1.1 million, down 15.2% from $1.3 million in Q1 2021. Earnings per share decreased to $0.62 from $0.74 year-over-year. Total assets rose by 1.1% to $559.4 million, with net loans increasing by 5.9% to $463.2 million. Total deposits also grew by 1.1% to $479.6 million. However, nonperforming assets increased from $1.15 million to $1.97 million, and total non-interest expense rose by 5.5%. The Board declared a cash dividend of $0.30 per share, payable on June 7, 2022.
Century Next Financial Corporation (OTCQX: CTUY) reported its financial results for the fiscal year ending December 31, 2021. The company's net income fell to $4.78 million, down 8.3% from $5.21 million in 2020. Earnings per share (EPS) also declined to $2.73 from $3.03. However, total assets increased 7.5%, reaching $553.5 million. Notably, loans rose by 4.0% to $437.3 million, while deposits surged 7.6% to $474.5 million. Despite a rise in provisions for loan losses to $2.1 million, the company improved its asset quality significantly.
Century Next Financial Corporation (OTCQX: CTUY) reported financial results for Q3 2021, showing a net income of $1.67 million, up 40.9% from $1.19 million in Q3 2020. Earnings per share reached $0.95, higher than $0.69 a year earlier. However, net income for the nine months ended September 30, 2021, was $3.11 million, down 16.1% from $3.71 million in 2020. Total assets increased by 5% to $541 million, with loans rising 6.95%. Nonperforming assets significantly decreased to $2.15 million, reflecting improved asset quality.