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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 (OTCQX: CTUY) reported strong Q1 2025 financial results with total assets reaching $909.7 million. The company achieved a record net income of $3.45 million, up 29.7% from $2.66 million in Q1 2024, with earnings per share increasing to $1.89 basic/$1.88 diluted from $1.48.
Key highlights include:
- Total deposits increased by $35.0 million (4.5%) to $805.7 million
- Net interest income grew 19.6% to $9.1 million
- Net interest margin improved to 4.26% from 4.08%
- Efficiency ratio decreased to 54.90% from 60.99%
The Board declared a cash dividend of $0.75 per share, payable June 5, 2025. The company's liquidity position strengthened to 28.1% of total assets, with total loans increasing by $10.8 million to $616.2 million.
Century Next Financial (OTCQX: CTUY) reported strong financial results for the year ended December 31, 2024. The company achieved net income of $12.14 million, a significant 79.9% increase from $6.75 million in 2023. Earnings per share reached $6.72 basic and $6.69 diluted, up from $3.77 in 2023.
Total assets grew by 13.5% to $869.4 million, with deposits increasing by 13.3% to $770.7 million. Net loans increased by 3.1% to $605.4 million. The company's net interest income rose by 31.8% to $33.0 million, while the net interest margin improved to 4.16% from 3.70%. The efficiency ratio decreased substantially to 57.45% from 69.56% in 2023.
Return on average assets improved to 1.47% from 0.95%, and return on average equity increased to 15.58% from 10.04% in 2023.
Century Next Financial (OTCQX: CTUY), holding company of Century Next Bank, reported strong financial results for Q3 2024. Net income increased 59.8% to $3.02 million for the quarter, with EPS rising to $1.67 from $1.06 year-over-year. For the nine months ended September 30, 2024, net income grew 93.4% to $8.75 million.
The company's total assets increased 12.0% to $857.7 million, with significant growth in cash, cash equivalents, and investment securities. Deposits grew 11.8% to $760.4 million, driven by increases in noninterest-bearing and interest-bearing checking accounts. Net interest income rose 30.0% for the quarter and 34.4% for the nine-month period, with improved net interest margin. The efficiency ratio decreased substantially, indicating better operational performance.
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.
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.
