Century Next Financial Corporation Reports Record 1st Quarter 2025 Results

Financial Performance - The Company reported a net income after tax of $3.45 million for Q1 2025, an increase of $790,000 or 29.7% compared to $2.66 million in Q1 2024 [2] - Earnings per share (EPS) for Q1 2025 were $1.89 basic and $1.88 diluted, compared to $1.48 for both in Q1 2024 [2] Balance Sheet - Total assets increased by $40.3 million or 4.6% to $909.7 million as of March 31, 2025, from $869.4 million at December 31, 2024 [3] - Cash and cash equivalents rose by $20.5 million or 16.3% to $146.2 million, while investment securities increased by $10.9 million to $109.4 million [4] Loans and Deposits - Net loans increased by $10.8 million or 1.8% to $616.2 million as of March 31, 2025, with notable increases in commercial non-real estate loans and residential construction loans [5] - Total deposits rose by $35.0 million or 4.5% to $805.7 million, driven by a $46.1 million increase in noninterest-bearing checking accounts [6] Income Statement - Net interest income for Q1 2025 was $9.1 million, up $1.5 million or 19.6% from $7.6 million in Q1 2024 [8] - Total non-interest income decreased by $41,000 or 5.1% to $770,000, primarily due to a decline in income from the origination and sale of residential loans [10] Expenses and Efficiency - Total non-interest expense increased by $284,000 or 5.5% to $5.4 million, with salaries and employee benefits being the largest contributor [11] - The efficiency ratio improved to 54.90% for Q1 2025 from 60.99% in Q1 2024, driven by increased net interest income [12] Other Financial Information - Nonperforming assets decreased from $3.98 million at December 31, 2024, to $3.76 million at March 31, 2025, representing 0.41% of total assets [13] - The allowance for credit losses was $6.63 million or 1.06% of total loans as of March 31, 2025, compared to $6.07 million or 1.01% a year earlier [14] Dividend Declaration - The Board of Directors approved a cash dividend of $0.75 per share, payable on June 5, 2025, to shareholders of record as of May 22, 2025 [15] Company Information - Century Next Financial Corporation is the holding company for Century Next Bank, which operates primarily in Louisiana and Arkansas, focusing on small and medium-sized businesses and individuals [16]