Century Next Financial Corporation (OTCPK:CTUY) entered into a definitive agreement to acquire Ashley Bancstock Company for $12.8 million on May 16, 2018. Post completion, shareholders of Ashley Bancstock will receive 1.8052 shares of Century Next common stock for each share of Ashley Bancstock common stock (the “Merger Consideration”).  Based on the closing price of Century Next’s common stock on May 15, 2018 ($30.00per share), the Merger Consideration has a value of $54.16 per share to the holders of Ashley Bancstock common stock. Pursuant to the transaction, Ashley Bancstock will be merged into Century Next. Immediately following the completion of thetransaction, First National Bank of Crossett, a wholly-owned bank subsidiary of Ashley Bancstock Company, will merge with and into Bank of Ruston, a wholly-owned subsidiary of Century Next Financial Corporation, with Bank of Ruston as the surviving bank, in the transaction. Ashley Bancstock Company will be obligated to pay Century Next a termination fee of $550,000 under certain condition. As of December 31, 2017 Ashley Bancstock Company has total assets of $155.498 million, Net income of $2.135 million and , total common equity of $10.903 million. The transaction is subject to various approvals by regulatory authorities and the shareholders of both Century Next and Ashley Bancstock, and the board of both Century Next and Ashley Bancstock as well as the satisfaction of other customary closing conditions and third parties. The transaction is expected to be completed in the fourth quarter of 2018. Derek Szot and John Pyne of Sandler O'Neill + Partners, L.P. acted as financial advisor and Silver, Freedman, Eric M. Marion, Esq., Jack Soukenik and Hugh T. Wilkinson of Silver, Freedman, Taff & Tiernan LLP acted as legal advisor to Century Next Financial Corporation whereas Southard Financial acted as financial advisor and C. Douglas Buford, Jr. of Mitchell Williams Selig Gates acted as legal advisor to Ashley Bancstock Company. Sandler O'Neill + Partners, L.P. will receive $150000 contingent upon consummation of the trnascation. Sandler O'Neill received a $75,000 fee upon rendering its fairness opinion to the Century Next board of directors, which opinion fee will be credited in full towards the transaction fee that will become payable to Sandler O'Neill on the day of closing of the merger. Silver, Freedman, Taff & Tiernan gets a fee of $175000. Century Next Financial Corporation (OTCPK:CTUY) completed the acquisition of Ashley Bancstock Company on November 1, 2018.