Century Next Financial Corporation Announces Implementation of Stock Repurchase Plan

Century Next Financial Corporation (OTCQB: CTUY), the holding company of Bank of Ruston, announced today that its Board of Directors unanimously adopted a resolution to implement a stock repurchase plan (the “Plan”).

Under the Plan, Century Next Financial Corporation, the “Company”, is authorized to repurchase, during a twelve-month period beginning on June 1, 2014, up to 5% or approximately 52,670 shares of the Company’s currently issued and outstanding common stock. The timing of the repurchases, pursuant to the Plan, will depend on a variety of factors, including market conditions and may be made from time to time at the discretion of the Board of Directors in open-market or privately-negotiated transactions. The plan may be suspended or discontinued at any time.

Trading activity in the Company’s common stock in the over-the-counter market is light and liquidity is limited. Accordingly, the Board of Directors believes that repurchasing shares of its common stock, at market or negotiated prices acceptable to the Company, would be in the best interest of the Company and its shareholders and, in particular, those shareholders seeking to liquidate or reduce their investment in the Company.

The implementation of the Plan will not impair the Company’s current “well-capitalized” rating, as its regulatory capital level will continue to exceed the minimum requirements established for a well-capitalized institution by the applicable regulators.

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the implementation of our stock repurchase program and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, market conditions conducive to stock repurchases. These forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Century Next Financial CorporationWilliam D. Hogan, President & Chief Executive Officer, 318-255-3733orMark A. Taylor, CPA CGMA, Senior Vice President & Chief Financial Officer, 318-255-3733www.bankruston.com

Century Next Financial (QX) (USOTC:CTUY)
過去株価チャート
から 10 2024 まで 11 2024