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Century Next Fin (CTUY) is a leading institution in the financial services sector, providing banking solutions to individuals and businesses. This page serves as the definitive source for all official news and press releases related to the company, offering stakeholders timely updates on its operations and market position.
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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.
Century Next Financial Corporation (OTCQX: CTUY) reported its 2nd quarter financial results for 2021, revealing a significant decline in net income, totaling $155,000, a 89.8% drop from the previous year's $1.52 million. The company attributed this downturn to a one-time $1.42 million increase in its allowance for loan and lease losses due to a $1.68 million loan charge-off. Despite this, total assets rose by 5% to $540.8 million, with a 5.35% increase in net loans to $442.9 million. Nonperforming assets improved, decreasing from $4.72 million to $2.66 million year-to-date.
Century Next Financial Corporation (OTCQX: CTUY) reported a strong financial performance for Q1 2021, with net income rising to $1.29 million, a 28.2% increase from $1.0 million in Q1 2020. Earnings per share reached $0.78 basic and $0.77 diluted. Total assets climbed to $538.0 million, boosted by a $12.1 million increase in net loans. Total deposits also rose by $20.3 million. However, nonperforming assets increased to $5.67 million, reflecting a rise in loans past due. A cash dividend of $0.28 per share and a 5% stock dividend were declared, payable on June 8, 2021.
Century Next Financial Corporation (OTCQX: CTUY) reported financial results for 2020, showing a net income of $5.2 million, down from $5.6 million in 2019, a 6.1% decrease. Earnings per share fell to $3.18 from $3.43. Total assets increased by 5.2% to $515.1 million, and net loans grew by 4.6% to $420.4 million. Additionally, held for sale mortgage loan originations surged by 94.7% to $72 million. Despite challenges from the pandemic, the company reported increases in net interest income and non-interest income by 4.9% and 4.8%, respectively.
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