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.
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.