Dear Fellow Shareholder:
On behalf of the Board of Directors, management team and staff of Century Next Bank, formerly Bank of Ruston, we are proud to provide the 2018 Annual Report. This year was a great year with strong earnings and robust asset and deposit growth for Century Next Financial Corporation and its subsidiary Century Next Bank primarily due to the acquisition of Ashley Bancstock Company (ABC) and First National Bank of Crossett (FNBC) in Arkansas.
For the year ended December 31, 2018, net income increased by $955,000 or 40.6%, mostly due to earnings growth of Century Next Bank and savings from the new corporate tax structure. As we mentioned last year, we were excited about the growth potential for earnings in 2018, and it did not disappoint. The Arkansas locations also contributed $116,000 representing two months of earnings for November and December. Both loan and deposit growth were outstanding in 2018 with loans up 58.1% and deposits up 68.2% year over year mostly due to the addition of FNBC.
We continue to see our customer base in our market regions of Lincoln and Ouachita Parishes and the surrounding areas grow. And now, with the addition of FNBC, our customer base and opportunity for future growth have increased significantly. As always, our primary focus is asset quality, which is the cornerstone of success for any prudent financial institution.
Century Next Bank, our subsidiary bank, is celebrating 113 years of serving the Ruston Community and Lincoln Parish. Ouachita parish continues to show excellent growth and market expansion opportunity.
FNBC, now Century Next Bank of Ashley County, celebrated 115 years of servicing the Southeast Arkansas region. With three full-service branches and one drive through location, we are now a dominant presence in the area.
As we move into 2019, we are excited about our growth opportunities in North Louisiana and Southeast Arkansas. As always, we continue to explore new technologies to enhance the customer experience making banking more convenient than ever. We are excited about the potential for growth of the bank, increased return for the shareholders, and the opportunity to continue to serve our new and existing market areas.
We are proud of you, our shareholders, our loyal customers, and our wonderful region and look forward to an exciting year ahead.
William D. Hogan
President and Chief Executive Officer