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Century Next Financial Corporation (CTUY)

Other OTC - Other OTC Delayed price. Currency in USD
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30.75+0.50 (+1.65%)
At close: 9:54AM EDT
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Previous close30.25
Open30.75
Bid0.00 x 0
Ask0.00 x 0
Day's range30.75 - 30.75
52-week range24.05 - 31.33
Volume194
Avg. volume612
Market cap54.57M
Beta (5Y monthly)0.34
PE ratio (TTM)9.79
EPS (TTM)3.14
Earnings dateN/A
Forward dividend & yield0.28 (0.93%)
Ex-dividend date24 May 2021
1y target estN/A
  • Century Next Financial Corporation Reports Record 1st Quarter 2021 Results
    GlobeNewswire

    Century Next Financial Corporation Reports Record 1st Quarter 2021 Results

    RUSTON, La., April 21, 2021 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $538.0 million in assets, today announced financial results for the 1st quarter ended March 31, 2021. Financial Performance For the three months ended March 31, 2021, the Company had net income after tax of $1.29 million compared to net income of $1.0 million for the three months ended March 31, 2020, an increase of $283,000 or 28.2%. Earnings per share (EPS) for the three months ended March 31, 2021 were $0.78 per basic and $0.77 per diluted share compared to $0.62 per basic and $0.61 per diluted share reported for the three months ended March 31, 2020. Balance Sheet Overall, total assets increased by $22.9 million or 4.5% to $538.0 million at March 31, 2021 compared to $515.1 million at December 31, 2020. The largest component of assets, loans, net of deferred fees and costs and the allowance for loan losses, including loans held for sale, increased $12.1 million or 2.9% for the three months ended March 31, 2021 compared to December 31, 2020. Total net loans at March 31, 2021 were $432.5 million compared to $420.4 million at December 31, 2020. Total deposits at March 31, 2021 increased $20.3 million or 4.6% to $461.4 million compared to $441.1 million at December 31, 2020. Total short- and long-term borrowings remained the same at $14.45 million at March 31, 2021 and December 31, 2020. Income Statement Net interest income was $5.23 million for the three months ended March 31, 2021 compared to $5.0 million for the three months ended March 31, 2020. This was an increase of $224,000, or 4.5%. The provision for loan losses amounted to $202,000 for the three months ended March 31, 2021, compared to $362,000 for the three months ended March 31, 2020. The decrease reflects decreases in the inherent losses in the total portfolio and decreased risk awareness and identification of potential credit trend changes. Total non-interest income amounted to $952,000 for the three months ended March 31, 2021 compared to $866,000 for the three months ended March 31, 2020, an increase of $86,000 or 9.9%. Total non-interest expense increased by $194,000 or 4.7% to $4.34 million for the three months ended March 31, 2021 compared to $4.14 million for the three months ended March 31, 2020. The Company’s efficiency ratio, a measure of expense as a percent of total income, decreased to 70.2% for the year three months ended March 31, 2021 compared to 70.6% for the three months ended March 31, 2020. Other Financial Information Nonperforming assets, including loans past due 90 days or more, nonaccrual loans, and other foreclosed assets, increased from $4.72 million at December 31, 2020 to $5.67 million at March 31, 2021, an increase of $950,000. Total non-performing assets were 1.05% and 0.92% of totals assets as of March 31, 2021 and December 31, 2020, respectively. The increase was primarily due to an increase in accruing loans 90 days or more past due. Allowance for loan losses was $4.69 million or 1.07% of total loans at March 31, 2021 compared to $4.55 million or 1.07% of total loans at December 31, 2020. Net charge-offs for the three months ended March 31, 2021 were $57,000 compared to net charge-offs of $20,000 at March 31, 2020. The ratios of net charge-offs to average loans outstanding were 0.01% and 0.005% at March 31, 2021 and March 31, 2020, respectively. Dividends Declaration The Board of Directors has approved a cash dividend of $0.28 per share and a 5% stock dividend each payable on June 8, 2021 to shareholders of record as of May 25, 2021. The stock dividend will increase the number of shares currently outstanding by approximately 84,220 shares bringing total outstanding shares to approximately 1,768,624. The final number of shares outstanding may vary slightly for any newly issued and fractional shares that will be paid in cash. Company Information Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana. The Company was formed in 2010 and is subject to the regulatory oversight of the Board of Governors of the Federal Reserve System. The Bank is a wholly-owned subsidiary and is an insured federally-chartered covered savings association subject to the regulatory oversight of the Office of the Comptroller of the Currency. The Bank was established in 1905 and is headquartered in Ruston, Louisiana. The Bank is a full-service bank with four locations in Louisiana including two banking offices in Ruston, one banking office in Monroe, one banking office in West Monroe, and four locations in Arkansas including two banking offices in Crossett, one banking office in Hamburg, and one drive-through location with limited services in Fountain Hill. The Bank emphasizes professional and personal banking service directed primarily to small and medium-sized businesses, professionals, and individuals. The Bank provides a full range of banking services including its primary business of real estate lending to residential and commercial customers. Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” We undertake no obligation to update any forward-looking statements. Century Next Financial Corporation and SubsidiaryCondensed Consolidated Balance Sheets (unaudited) (In thousands, except per share data) December 31 March 31, 2021 December 31, 2020 ASSETS Cash and cash equivalents$64,493 $61,426Investment securities 9,820 2,558Loans, net 432,518 420,397Other assets 31,157 30,689TOTAL ASSETS$537,988 $515,070LIABILITIES AND STOCKHOLDERS' EQUITY Deposits$461,416 $441,075Long-term borrowings 14,454 14,454Other liabilities 5,211 4,021Total Liabilities 481,081 459,550Stockholders' equity 56,907 55,520 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$537,988 $515,070Book Value per share$33.67 $32.90 Century Next Financial Corporation and SubsidiaryConsolidated Statements of Income (unaudited) (In thousands, except per share data) Three Months Ended March 31 2021 2020 Interest Income $5,937 $6,290Interest Expense 712 1,289Net Interest Income 5,225 5,001Provision for Loan Losses 202 362Net interest income after provision for loan losses 5,023 4,639Noninterest Income 952 866Noninterest Expense 4,335 4,141Income Before Taxes 1,640 1,364Provision For Income Taxes 353 360NET INCOME $1,287 $1,004 EARNINGS PER SHARE Basic $0.78 $0.62Diluted $0.77 $0.61 Century Next Financial Corporation Contact Information: William D. Hogan, President & Chief Executive Officer or Mark A. Taylor, CPA CGMA, Executive Vice President & Chief Financial Officer(318) 255-3733 Company Website: www.cnext.bank

  • OTC Markets Group Announces Quarterly Index Performance and Rebalancing
    PR Newswire

    OTC Markets Group Announces Quarterly Index Performance and Rebalancing

    OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced the first quarter 2021 performance and quarterly rebalancing of the OTCQX® and OTCQB® indexes, including the OTCQX Canada Index and the OTCQX Dividend Index.

  • Lindblad Expeditions Holdings, Inc. Acquires Majority Stakes in DuVine Cycling + Adventure Co. and Off the Beaten Path LLC
    PR Newswire

    Lindblad Expeditions Holdings, Inc. Acquires Majority Stakes in DuVine Cycling + Adventure Co. and Off the Beaten Path LLC

    Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad"), a global provider of expedition cruises and adventure travel experiences today announced that it has acquired majority stakes in DuVine Cycling + Adventure Co. ("DuVine"), a leading luxury cycling and adventure travel company, and Off the Beaten Path LLC ("Off the Beaten Path"), a leading active travel operator with a specialization in U.S. National Parks. These acquisitions further broaden and deepen Lindblad's platform of high-quality experiential product offerings in robust adventure travel sectors, including the rapidly growing cycling tourism and domestic expedition markets. Similar to the acquisition of Natural Habitat, Inc. ("Natural Habitat"), the Company will leverage its experience and resources to accelerate the growth of these unique and profitable businesses and capitalize on the growing demand for authentic and immersive adventure travel.