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OFS Capital Corporation Prices Public Offering of $100,000,000 4.75% Notes Due 2026

OFS Capital Corporation Prices Public Offering of $100,000,000 4.75% Notes Due 2026

CHICAGO–(BUSINESS WIRE)–
OFS Capital Corporation (the “Company”) (Nasdaq: OFS) announced today that it has priced a registered public offering of $100,000,000 aggregate principal amount of its 4.75% notes due 2026 (the “Notes”) which will result in net proceeds to the Company of approximately $96,606,000 based on a public offering price of 98.906% of the aggregate principal amount of the Notes, after deducting payment of underwriting discounts and estimated offering expenses payable by the Company.

The Notes will mature on February 10, 2026 and may be redeemed in whole or in part at any time, or from time to time, at the Company’s option at par plus a “make-whole” premium, if applicable. The Notes will bear interest at a rate of 4.75% per year, payable semi-annually in arrears on February 10 and August 10 of each year, beginning on August 10, 2021.

The offering is subject to customary closing conditions and is expected to close on February 10, 2021.

The Company intends to use the net proceeds of the offering to fully or partially pay down, retire, or redeem certain of its outstanding indebtedness, which may include its 6.50% Notes due 2025 (the “6.50% Notes”), its 6.375% Notes due 2025 (the “6.375% Notes”), and/or the borrowings under its secured revolving credit facility with BNP Paribas, as amended (the “BNP Facility”). As of February 4, 2021, the Company had approximately $48.5 million aggregate principal amount outstanding, plus accrued interest, of 6.50% Notes, approximately $50.0 million aggregate principal amount outstanding, plus accrued interest, of 6.375% Notes and approximately $32.0 million of indebtedness outstanding under the BNP Facility.

Goldman Sachs & Co. LLC and Truist Securities, Inc. are acting as joint-booking running managers for the offering. Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are acting as co-managers for the offering.

Investors are advised to carefully consider the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated February 5, 2021, and accompanying prospectus, dated April 10, 2020, each of which has been filed with the Securities and Exchange Commission, contain a description of these matters and other important information about the Company and should be read carefully before investing.

The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in this offering or any other securities nor will there be any sale of these securities or any other securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

A shelf registration statement relating to these securities is on file with and has been declared effective by the Securities and Exchange Commission. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained, when available, from: Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282 and Truist Securities, Inc., 3333 Peachtree Road NE, Atlanta, Georgia 30326.

About OFS Capital Corporation

The Company is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company. The Company’s investment objective is to provide stockholders with both current income and capital appreciation primarily through debt investments and, to a lesser extent, equity investments. The Company invests primarily in privately held middle-market companies in the United States, including lower-middle-market companies, targeting investments of $3 to $20 million in companies with annual EBITDA between $3 million and $50 million. The Company offers flexible solutions through a variety of asset classes including senior secured loans, which includes first-lien, second-lien and unitranche loans, as well as subordinated loans and, to a lesser extent, warrants and other equity securities. The Company’s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 19401 and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements,” which relate to future events or our future operations, performance or financial condition. Forward-looking statements include statements regarding our intentions related to the offering discussed in this press release, including the use of proceeds from the offering. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and outcomes may differ materially from those anticipated in the forward-looking statements as a result of a variety of factors, including those described from time to time in our filings with the Securities and Exchange Commission or factors that are beyond our control. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. All forward-looking statements speak only as of the time of this press release.

1 Registration does not imply a certain level of skill or training.

OFS Capital Corporation

INVESTOR RELATIONS:

Steve Altebrando, 646-652-8473

[email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA:

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Voyager Therapeutics, Inc. Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline – VYGR

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Voyager Therapeutics, Inc. Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline – VYGR

NEW YORK–(BUSINESS WIRE)–WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Voyager Therapeutics, Inc. (NASDAQ: VYGR) between June 1, 2017 and November 9, 2020, both dates inclusive (the “Class Period”), of the important March 24, 2021 lead plaintiff deadline.

SO WHAT: If you purchased Voyager securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Voyager class action, go to http://www.rosenlegal.com/cases-register-2026.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 24, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s VY-HTT01 IND submission to the FDA lacked key information regarding certain chemistry, manufacturing and controls (“CMC”) matters, including, inter alia, drug-device compatibility and drug substance and product characterization; (2) the Company’s IND submission for VY-HTT01 was therefore deficient; (3) the Company had thus materially overstated the likelihood of FDA approval for VY-HTT01 based on the IND submission; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Voyager class action, go to http://www.rosenlegal.com/cases-register-2026.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

[email protected]

[email protected]

[email protected]

www.rosenlegal.com

KEYWORDS: China United States North America Asia Pacific New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Vertical Capital Income Fund (VCIF) Declares February Distribution

PR Newswire

DALLAS, Feb. 5, 2021 /PRNewswire/ — Vertical Capital Income Fund (NYSE: VCIF) today announced a distribution of $0.08 per share pursuant to the Fund’s managed distribution plan (the “Plan”), payable as follows:

Declaration – 2/5/2021

Ex-Date – 2/12/2021

Record Date – 2/16/2021

Payable – 2/26/2021

Pursuant to the Plan, the Fund pays a minimum monthly distribution to shareholders at a stated annual rate as a percentage of the 3-month average net asset value (“NAV”) of the Fund’s shares prior to the month of distribution.  The distribution is calculated as 8% of the previous three-month average NAV, divided by 12.  The primary purpose of the Plan is to provide investors with consistent, but not guaranteed, periodic distributions from the Fund, regardless of when or whether income is earned or capital gains are realized.  Distributions under the Plan may consist of (i) net investment income, (ii) net realized short-term capital gains, (iii) net realized long-term capital gains and, to the extent necessary, (iv) return of capital (or other capital sources). With each distribution that does not consist solely of net investment income, the Fund will issue a notice to shareholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution, as well as certain other related information. The Fund expects to issue any such notice and press release on or about the distribution payment date.

The Fund had approximately $2.4 million in cash as of January 31, 2020.  Approximately $6.8 million was committed as of the same date in the acquisition pipeline to loans that have already been awarded to the Fund and were either in due diligence or through due diligence and awaiting closing.  Pending acquisitions are subject to various closing conditions, and the Fund cannot guarantee that those acquisitions will close. 

A new monthly net asset value per share of $11.94 was produced on January 29, 2021.  For information on the Fund’s current net asset value per share, please visit the Fund’s website at vertical-incomefund.com.

The Plan will be subject to periodic review by the Board, and the Board may amend the terms of the Plan including amending the annual rate of payment or may terminate the Plan at any time without prior notice to the Fund’s shareholders.  The Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance, and other factors.  There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Fund’s distribution rate at a future time.  The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s shares.  The public health crises caused by the COVID-19 outbreak may exacerbate other pre-existing political, social and economic risks to which the Fund is exposed.  The duration of the COVID-19 outbreak and its effects cannot be determined with certainty.  In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, and an exemptive order received by the Fund from the Securities and Exchange Commission, the Fund will provide its shareholders of record on each distribution date with a 19(a) Notice and issue an accompanying press release disclosing the sources of its distribution payment when a distribution includes anything other than net investment income.  This information will be forthcoming later this month.

The amounts and sources of distributions reported in 19(a) Notices are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. Information on the Fund’s 19(a) Notices, if any, can be found at www.vertical-incomefund.com. The final determination of the source and tax characteristics of all distributions in 2021 will be made after the end of the year.


Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors’ expectations for future distribution changes, the clarity of the Fund’s investment strategy and future return expectations, and investors’ confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in the Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund’s investment objective, risks, charges and expenses.  For further details, please visit Vertical Capital Income Fund’s website at vertical-incomefund.com.

This release contains forward-looking statements relating to the business and financial outlook of Vertical Capital Income Fund that are based on the Fund’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. There is no assurance that the Fund will achieve its investment objective. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release.

About Vertical Capital Income Fund

Vertical Capital Income Fund is an NYSE listed closed-end fund that primarily invests in residential whole mortgage loans and residential whole loans secured by deeds of trust.  The investment objective of the Fund is to seek income.

About Oakline Advisors, LLC

Oakline Advisors, LLC is the adviser to Vertical Capital Income Fund.  Founded in 2013, Oakline Advisors, LLC is an SEC-registered investment adviser that specializes in the residential whole loan market. It is a wholly owned subsidiary of Dallas, TX-based Behringer.  Since its inception in 1989, Behringer, together with its affiliates, has raised equity of more than $6 billion in assets through public and private fund structures.  For more information about Oakline and Behringer please visit their respective websites at oaklineadvisors.com and behringerinvestments.com. 

Fund shares are identified by CUSIP 92535C104

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/vertical-capital-income-fund-vcif-declares-february-distribution-301223350.html

SOURCE Vertical Capital Income Fund

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iAnthus Announces Filing of Amendment and Effectiveness of Form 10 Registration Statement

PR Newswire



Becomes Full SEC Reporting Company

NEW YORK and TORONTO, Feb. 5, 2021 /PRNewswire/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCPK: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today announced that it has filed an amendment to its Form 10 Registration Statement (“Form 10”), previously filed on December 8, 2020 with the United States Securities and Exchange Commission (“SEC”) to register its common stock under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that the Form 10, as amended, became effective as of February 5, 2021. Following the effective date, iAnthus will be subject to the reporting requirements of the Exchange Act. This means the Company will begin filing annual reports with the SEC on Form 10-K, quarterly reports on Form 10-Q, periodic reports on Form 8-K, and subject itself to additional reporting obligations related to proxies, shareholder actions and stock ownership rules. In addition, the Company is subject to U.S. GAAP reporting requirements with respect to the reports it files with the SEC.

The Form 10, as amended, provides detailed and audited information about the Company’s operations, including an overview of the business strategies, risk factors and financial statements with respect to the Company. The ongoing obligation to timely file with the SEC will also help the Company’s new and current investors make more informed and educated investment decisions about the Company. The Form 10, as amended, is available on Canada’s System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com,  the SEC’s website at www.sec.gov and on the Company’s website.

About iAnthus

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit www.iAnthus.com.

COVID-19 Risk Factor

The Company may be impacted by business interruptions resulting from pandemics and public health emergencies, including those related to COVID-19. An outbreak of infectious disease, a pandemic, or a similar public health threat, such as the recent outbreak of COVID-19, or a fear of any of the foregoing could adversely impact the Company by causing operating, manufacturing, supply chain, and project development delays and disruptions, labor shortages, travel, and shipping disruption and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how the Company may be affected if such a pandemic continues to persists for an extended period of time, including as a result of the waiver of regulatory requirements or the implementation of emergency regulations to which the Company is subject. Although the Company has been deemed essential and/or has been permitted to continue operating its facilities in the states in which it cultivates, processes, manufactures, and sells cannabis during the pendency of the COVID-19 pandemic, there is no assurance that the Company’s operations will continue to be deemed essential and/or will continue to be permitted to operate. The Company may incur expenses or delays relating to such events outside of its control, which could have a material adverse impact on its business, operating results, financial condition, and the trading price of the Company’s common shares.

Forward Looking Statements

This news release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1955. When used in this news release, words such as “will”, “hope”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should”, “our vision” and similar expressions, are intended to identify forward-looking statements. Forward-looking statements may include, without limitation, statements related to: the Company’s financial performance, business development and results of operations, the implementation and completion of its recapitalization transaction.

All forward-looking statements are based upon the Company’s current expectations and various assumptions. The Company believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. The Company may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described in the Company’s periodic filings with the Canadian securities regulators and the SEC.

Consequently, forward-looking statements should be regarded solely as the Company’s current plans, estimates and beliefs. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. iAnthus disclaims any intention or obligation to update or revise such information, except as required by applicable law, and iAnthus does not assume any liability for disclosure relating to any other company mentioned herein.

Neither the Canadian Securities Exchange nor the SEC has reviewed, approved or disapproved the content of this news release.

The securities to be issued pursuant to the recapitalization transaction have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Cision View original content:http://www.prnewswire.com/news-releases/ianthus-announces-filing-of-amendment-and-effectiveness-of-form-10-registration-statement-301223349.html

SOURCE iAnthus Capital Holdings, Inc.

Posted on

January 12 Update


WARWICK, N.Y., Feb. 05, 2021 (GLOBE NEWSWIRE) — Ozop Energy Solutions
retracts the press release it issued on January 12, 2021 regarding Ozop Energy Solutions entering into a Master Supply Agreement. Ozop did not have authorization to issue the press release, and the agreement referred to in the release has been terminated.

For more information on PCTI please follow on the link, www.pcti.com.

Please be aware that our social media accounts can be used from time to time for additional material events.


https://twitter.com/OzopEnergy


https://www.facebook.com/OzopEnergy/


The Waypoint Refinery (discord.com)

About Ozop Energy Solutions.

Ozop Energy Solutions (http://ozopenergy.com/) invents, designs, develops, manufactures, and distributes ultra-high power chargers, inverters, and power supplies for a wide variety of applications in the defense, heavy industrial, aircraft ground support, maritime and other sectors. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.

About Power Conversion Technologies, Inc.

Power Conversion Technologies, Inc. (www.pcti.com) invents, designs, develops, manufactures and distributes standard and custom power electronic solutions. Founded in 1991 and located in East Butler, Pennsylvania, the Company’s mission is to be the global leader for high power electronics with a standard of continued innovation.

Safe Harbor Statement

“This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company’s control). The company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.”

###

Investor Relations Contact

The Waypoint Refinery, LLC
845-397-2956
www.thewaypointrefinery.com



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Century Next Financial Corporation Reports Strong Year-End 2020 Results

RUSTON, La., Feb. 05, 2021 (GLOBE NEWSWIRE) — Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $515.1 million in assets, today announced financial results for the year ended December 31, 2020.

Overview

“The Company and its wholly-owned subsidiary, Century Next Bank, had strong performance even with the effects of the pandemic and the level of economic uncertainty in 2020. As was the case for many holding companies with community banks, the Company started the year with aspirations for strong growth in loans and deposits, while working to manage credit and interest rate risk. I am pleased to report that despite the many challenges, our board, Management, and staff rose to the occasion and managed all four issues extremely well, delivering strong earnings and growth,” said William D. Hogan, President and CEO.

“Our Company continues to focus on the strengths of our employees as well as the resilience and loyalty of our customers. In addition, we remain committed to being active participants and steadfast supporters of the communities of North Central and Southeast Arkansas which we call home,” Hogan added.

Financial Performance

For the year ended December 31, 2020, the Company had net income after tax of $5.2 million compared to net income of $5.6 million for the year ended December 31, 2019, a decrease of $339,000 or 6.1%. Earnings per share (EPS) for the full year ended December 31, 2020 were $3.18 per basic and $3.14 per diluted share compared to $3.43 per basic and $3.36 per diluted share reported for the full year ended December 31, 2019.  

The mortgage refinance market, due to lower interest rates, and the Paycheck Protection Program (PPP) provided by the CARES Act of 2020 both contributed greatly to the strong performance. Held for sale mortgage (HFS) loan originations increased from $37 million for the year ended December 31, 2019 to $72 million for the year ended December 31, 2020, an increase of 94.7%. Net loan servicing release fees from HFS loan activities increased 65.7% or $721,000 for the full year 2020 compared to 2019. PPP loans originated during 2020 were $29.6 million resulting in total loan fees of $1.0 million, $602,000 of which were recognized as income for the year ended December 31, 2020.

Balance Sheet

Overall, total assets increased by $25.5 million or 5.2% to $515.1 million at December 31, 2020 compared to $489.6 million at December 31, 2019.  

The largest component of assets, loans, net of deferred fees and costs and the allowance for loan losses, including loans held for sale, increased $18.4 million or 4.6% for the year ended December 31, 2020 compared to December 31, 2019. Total net loans at December 31, 2020 were $420.4 million compared to $402.0 million at December 31, 2019.

The allowance for loan losses increased by $1.1 million or 32.8% to $4.5 million at December 31, 2020 from $3.4 million at December 31, 2019.

Total deposits at December 31, 2020 increased $19.2 million or 4.6% to $441.1 million compared to $421.9 million at December 31, 2019.  

Total short- and long-term borrowings decreased to $14.45 million at December 31, 2020 from $14.49 at December 31, 2019, a decrease of $41,000 or .28%.

Income Statement

Net interest income was $20.59 million year ended December 31, 2020 compared to $19.62 million for the year ended December 31, 2019. This was an increase of $969,000, or 4.9%.

The provision for loan losses amounted to $1.45 million for the year ended December 31, 2020, compared to $1.20 million for the year ended December 31, 2019. The increase reflects increases in the inherent losses in the total portfolio and increased risk awareness and identification of potential credit trend changes due to uncertain economic conditions from COVID-19.

Total non-interest income amounted to $4.17 million for the year ended December 31, 2020 compared to $3.98 million for the year ended December 31, 2019, an increase of $190,000 or 4.8%.

Total non-interest expense increased by $1.35 million or 8.8% to $16.69 million for the year ended December 31, 2020 compared to $15.34 million for the year ended December 31, 2019.

The Company’s efficiency ratio, a measure of expense as a percent of total income, increased to 67.4% for the year ended December 31, 2020 compared to 65.0% for the year ended December 31, 2019.

Other Financial Information

Nonperforming assets, including loans past due 90 days or more, nonaccrual loans, and other foreclosed assets, increased from $4.1 million at December 31, 2019 to $4.7 million at December 31, 2020. Total non-performing assets were 0.92% and 0.84% of totals assets as of December 31, 2020 and December 31, 2019, respectively. The increase was primarily due to an increase in nonaccrual loans.  

Allowance for loan losses was $4.5 million or 1.07% of total loans at December 31, 2020 compared to $3.4 million or 0.84% of total loans at December 31, 2019. Net charge-offs for the year ended December 31, 2020 were $325,000 compared to net charge-offs of $348,000 for the year ended December 31, 2019. The ratios of net charge-offs to average loans outstanding were 0.08% and 0.09% at December 31, 2020 and December 31, 2019, respectively.

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 Subsidiary

Condensed Consolidated Balance Sheets (unaudited)


(In thousands, except per share data)

       
  December 31
  2020   2019
       
ASSETS      
       
Cash and cash equivalents $ 61,426   $ 54,100
Investment securities   2,558     2,589
Loans, net   420,397     402,033
Other assets   30,689     30,884
TOTAL ASSETS $ 515,070   $ 489,606
       
LIABILITIES AND STOCKHOLDERS’ EQUITY      
       
Deposits $ 441,075   $ 421,855
Short-term borrowings   –     41
Long-term borrowings   14,454     14,454
Other liabilities   4,021     3,119
Total Liabilities   459,550     439,469
           
Stockholders’ equity   55,520     50,137
       
       
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 515,070   $ 489,606
           
Book Value per share $ 32.90   $ 30.16
       

Century Next Financial Corporation and Subsidiary

Consolidated Statements of Income (unaudited)


(In thousands, except per share data)

         
    Years Ended December 31
    2020   2019
         
Interest Income   $ 24,437   $ 25,534
Interest Expense     3,847     5,913
Net Interest Income     20,590     19,621
Provision for Loan Losses     1,448     1,203
Net interest income after provision for loan losses     19,142     18,418
Noninterest Income     4,167     3,977
Noninterest Expense     16,690     15,343
Income Before Taxes     6,619     7,052
Provision For Income Taxes     1,405     1,499
NET INCOME   $ 5,214   $ 5,553
         
         
EARNINGS PER SHARE        
Basic   $ 3.18   $ 3.43
Diluted   $ 3.14   $ 3.36
         

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



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SHAREHOLDER ALERT: Rigrodsky Law, P.A. Reminds Investors of Investigations of NHLD, ALAC, SMTX, and DFHT Mergers

WILMINGTON, Del., Feb. 05, 2021 (GLOBE NEWSWIRE) — Rigrodsky Law, P.A. announces that it is investigating:

National Holdings Corporation (NASDAQ CM:

NHLD

) regarding possible breaches of fiduciary duties and other violations of law related to National Holdings’ agreement to be acquired by B. Riley Financial, Inc. Under the terms of the agreement, National Holdings’ shareholders will receive $3.25 in cash per share. To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-national-holdings-corporation.

Alberton Acquisition Corporation (NASDAQ CM:

ALAC

) regarding possible breaches of fiduciary duties and other violations of law related to Alberton’s agreement to merge with SolarMax Technology, Inc. To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-alberton-acquisition-corporation.

SMTC Corporation (NASDAQ GS:

SMTX

) regarding possible breaches of fiduciary duties and other violations of law related to SMTC’s agreement to be acquired by affiliates of H.I.G. Capital. Under the terms of the agreement, SMTC’s shareholders will receive $6.044 in cash per share. To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-smtc-corporation.

Deerfield Healthcare Technology Acquisitions Corp. (NASDAQ GS:

DFHT

) regarding possible breaches of fiduciary duties and other violations of law related to Deerfield’s agreement to merge with CareMax Medical Group, LLC and IMC Medical Group Holdings, LLC. To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-deerfield-healthcare-technology-acquisitions-corp.

You may also contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or [email protected].

Rigrodsky Law, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.

Attorney advertising. Prior results do not guarantee a similar outcome.

CONTACT:

Rigrodsky Law, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
[email protected]
https://rl-legal.com



Posted on

BREAKING ALERT: ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages AstraZeneca PLC Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline – AZN

BREAKING ALERT: ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages AstraZeneca PLC Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline – AZN

NEW YORK–(BUSINESS WIRE)–WHY: New York, N.Y., February 5, 2021. Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of AstraZeneca PLC (NASDAQ: AZN) between May 21, 2020 and November 20, 2020, inclusive (the “Class Period”), of the important March 29, 2021 lead plaintiff deadline.

SO WHAT: If you purchased AstraZeneca securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the AstraZeneca class action, go to http://www.rosenlegal.com/cases-register-2027.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 29, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) initial clinical trials for AZD1222, the Company’s coronavirus vaccine hopeful, had suffered from a critical manufacturing error, resulting in a substantial number of trial participants receiving half the designed dosage; (2) clinical trials for AZD1222 consisted of a patchwork of disparate patient subgroups, each with subtly different treatments, undermining the validity and import of the conclusions that could be drawn from the clinical data across these disparate patient populations; (3) certain clinical trial participants for AZD1222 had not received a second dose at the designated time points, but rather received the second dose up to several weeks after the dose had been scheduled to be delivered according to the original trial design; (4) AstraZeneca had failed to include a substantial number of patients over 55 years of age in its clinical trials for AZD1222, despite this patient population being particularly vulnerable to the effects of COVID-19 and thus a high priority target market for the drug; (5) AstraZeneca’s clinical trials for AZD1222 had been hamstrung by widespread flaws in design, errors in execution, and a failure to properly coordinate and communicate with regulatory authorities and the general public; (6) as a result of the foregoing, the clinical trials for AZD1222 had not been conducted in accordance with industry best practices and acceptable standards and the data and conclusions that could be derived from the clinical trials was of limited utility; and (7) as a result of the foregoing, AZD1222 was unlikely to be approved for commercial use in the United States in the short term, one of the largest potential markets for the drug. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the AstraZeneca class action, go to http://www.rosenlegal.com/cases-register-2027.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

[email protected]

[email protected]

[email protected]

www.rosenlegal.com

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Posted on

ROSEN, NATIONALLY REGARDED INVESTOR COUNSEL, Encourages Triterras, Inc. f/k/a Netfin Acquisition Corp. Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – TRIT, TRITW

NEW YORK, Feb. 05, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Triterras, Inc. f/k/a Netfin Acquisition Corp. (NASDAQ: TRIT, TRITW) between August 20, 2020 and December 16, 2020, inclusive (the “Class Period”), of the important February 19, 2021 lead plaintiff deadline.

SO WHAT: If you purchased Triterras securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Triterras class action, go to http://www.rosenlegal.com/cases-register-2008.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 19, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) the extent to which the Company’s revenue growth relied on Triterras’ relationship with Rhodium Resources Pte. Ltd. (“Rhodium”) to refer users to the Kratos platform; (2) that Rhodium faced significant financial liabilities that jeopardized its ability to continue as a going concern; (3) that, as a result, Rhodium was likely to refer fewer users to the Company’s Kratos platform; and (4) that, as a result of the foregoing, defendants’ positive statements about Triterras’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Triterras class action, go to http://www.rosenlegal.com/cases-register-2008.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com



Posted on

ROSEN, A LEADING AND TOP RANKED LAW FIRM, Encourages Exxon Mobil Corporation Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline – XOM

NEW YORK, Feb. 05, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Exxon Mobil Corporation (NYSE: XOM) between November 6, 2019 and January 14, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 29, 2021.

SO WHAT: If you purchased Exxon securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Exxon class action, go to http://www.rosenlegal.com/cases-register-2021.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 29, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Exxon forced its employees to use unrealistic assumptions regarding the timelines for well drilling in the Permian Basin; (2) the foregoing assumptions served to artificially inflate the value of the Company’s well operations in the Permian Basin; (3) the foregoing conduct, when revealed, subjected Exxon to a heightened risk of regulatory investigation and oversight; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Exxon class action, go to http://www.rosenlegal.com/cases-register-2021.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com