SOURCE: Teche Holding Company

Teche Holding Company

October 26, 2011 22:00 ET

Teche Holding Company Earns $1.01 per Share for Fourth Quarter, Posts Record Earnings per Share for Third Consecutive Year

NEW IBERIA, LA--(Marketwire - Oct 26, 2011) - (NYSE Amex: TSH) -- Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended September 30, 2011, the fourth quarter of fiscal 2011.

Earnings for the quarter ended September 30, 2011 amounted to $2.1 million, or $1.01 per diluted share, compared to $1.85 million, or $0.88 per diluted share for the same quarter in fiscal 2010, an increase of $0.13 per diluted share, or 14.8%.

Earnings for fiscal 2011 amounted to $7.2 million, or a record $3.45 per diluted share, compared to $7.1 million or $3.37 per diluted share, for the same period in fiscal 2010, an increase of $0.08 per diluted share, or 2.4%.

"It is exciting to announce that the Company is posting record earnings per share for a third consecutive year," said Little. "It has not been easy. These past three years have been very challenging years for the financial industry. Since September 2008, we have grown loans, we have grown deposits, our capital measures have increased, and we have maintained solid asset quality," he said.

"SmartGrowth Deposits have increased steadily year-over-year for the past three years," said Little. "This year they increased by a solid 9.1% to a record $436.5 million."

"We are very pleased that we were able to post significant increases in SmartGrowth loans and total loans this quarter," said Little.

The Company reported the following highlights:

  • Earnings for fiscal 2011 amounts to a record $3.45 per diluted share. This is the third consecutive year that Teche has posted record earnings per share.
  • The Company continued its steady rise in tangible book value per share increasing to a record $37.02 compared to $34.43 a year ago.
  • All capital measures continue to remain strong.
  • Total Loans increased 2.1% or $12.7 million compared to a year ago.
  • SmartGrowth Loans increased $9.9 million compared to the linked quarter. SmartGrowth Loans now amount to 75.6% of total loans.
  • Total assets increased to $793.2 million, an increase of 4.2% compared to a year ago.
  • Average earning assets for the quarter increased to $719.4 million, an increase of 3.3% compared to the same quarter a year ago.
  • Total Deposits increased 3.3% compared to a year ago.
  • Checking Account balances increased 10.2% compared to September 30, 2010. Checking account balances now amount to 31.9% of total deposits, compared to 29.9% a year ago.
  • SmartGrowth Deposits increased 9.1% compared to a year ago. SmartGrowth Deposits now amount to 72.9% of total deposits, compared to 69.1% a year ago.
  • The average yield on all deposits was 0.77% compared to 0.82% for the linked quarter and 1.10% a year ago.
  • Net interest margin for the quarter amounted to 4.33% compared to 4.24% for the linked quarter and 4.27% a year ago.
  • Dividends paid have increased annually for nine years.
  • The Bank completed its conversion from a federally chartered savings bank on June 21, 2011 to a Louisiana chartered commercial bank, regulated by the Commissioner of the Office of Financial Institutions of the State of Louisiana and the Federal Deposit Insurance Corporation (FDIC).

Net Income

Net income for the quarter amounted to $2.1 million or $1.01 per diluted share, an increase of 18.8% per diluted share compared to the linked quarter and 14.8% compared to a year ago.

QUARTERLY COMPARISON Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Net Income (In 000's) $ 2,102 $ 1,790 $ 1,513 $ 1,824 $ 1,847
Pre-Tax, Pre-Provision Earnings (In 000's) $ 3,752 $ 3,686 $ 3,305 $ 3,859 $ 3,578
Basic Earnings Per Common Share $ 1.02 $ 0.86 $ 0.73 $ 0.88 $ 0.89
Diluted Earnings Per Common Share $ 1.01 $ 0.85 $ 0.72 $ 0.87 $ 0.88
Annualized Return on Avg. Assets 1.07 % 0.92 % 0.80 % 0.96 % 0.97 %
Pre-Tax, Pre-Provision Earnings/ Avg. Assets 1.91 % 1.89 % 1.74 % 2.03 % 1.88 %
Annualized Return on Avg. Equity 10.40 % 8.96 % 7.74 % 9.36 % 9.61 %
Annualized Return on Avg. Tangible
Equity
10.90 % 9.40 % 8.13 % 9.84 % 10.12 %
Average Assets (in millions) $ 787.8 $ 780.2 $ 760.0 $ 759.9 $ 761.2
Average Earning Assets (in millions) $ 719.4 $ 714.5 $ 693.7 $ 696.3 $ 696.5
Average Deposits (in millions) $ 607.9 $ 613.8 $ 590.7 $ 579.9 $ 576.4
Average FHLB Advances (in millions) $ 92.5 $ 79.9 $ 85.5 $ 95.3 $ 100.8
FISCAL YEAR COMPARISON 2011 2010 2009 2008
Net Income (In 000's) $ 7,228 $ 7,101 $ 7,136 $ 5,709
Pre-Tax, Pre-Provision Earnings (In 000's) $ 14,602 $ 14,363 $ 13,420 $ 8,581
Basic Earnings Per Common Share $ 3.49 $ 3.40 $ 3.38 $ 2.65
Diluted Earnings Per Common Share $ 3.45 $ 3.37 $ 3.35 $ 2.63
Annualized Return on Avg. Assets 0.94 % 0.93 % 0.91 % 0.76 %
Pre-Tax, Pre-Provision Earnings/ Avg. Assets 1.89 % 1.88 % 1.72 % 1.14 %
Annualized Return on Avg. Equity 9.12 % 9.43 % 9.98 % 8.29 %
Annualized Return on Avg. Tangible
Equity
9.58 % 9.94 % 10.49 % 8.80 %
Average Assets (in millions) $ 772.0 $ 762.4 $ 781.2 $ 749.8
Average Earning Assets (in millions) $ 705.5 $ 697.3 $ 722.4 $ 697.2
Average Deposits (in millions) $ 598.1 $ 578.3 $ 597.6 $ 581.2
Average FHLB Advances(in millions) $ 88.3 $ 102.3 $ 105.1 $ 98.1

"We have now posted record earnings per share for three consecutive years. We saw tremendous growth in loans this quarter," said Little. "Our loans are now at record levels and our asset quality measures are strong."

Capital
The tangible equity ratio increased to 9.67% compared to 9.48% a year ago, as stockholder equity increased to a record $80.0 million and assets increased to a record $793.2 million. In addition, tangible book value per common share increased to a record $37.02, an increase of 7.5% compared to a year ago. Risk based capital increased to 14.30% compared to 13.52% a year ago; and the equity to asset ratio increased to 10.08% from 9.92% a year ago.

QUARTERLY COMPARISON Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Stockholders' Equity (in millions) $ 80.0 $ 78.6 $ 77.6 $ 76.5 $ 75.5
Ratio of Equity to Assets 10.08 % 9.96 % 9.92 % 10.15 % 9.92 %
Tangible Equity Ratio 9.67 % 9.54 % 9.49 % 9.71 % 9.48 %
Total Risk-Based Capital Ratio 14.30 % 14.26 % 13.94 % 13.79 % 13.52 %
Book Value per Common Share $ 38.79 $ 37.87 $ 37.23 $ 36.81 $ 36.19
Tangible Book Value Per Common Share $ 37.02 $ 36.11 $ 35.47 $ 35.04 $ 34.43
Total Assets (in millions) $ 793.2 $ 789.0 $ 782.2 $ 753.7 $ 761.5
FISCAL YEAR COMPARISON 2011 2010 2009 2008
Stockholders' Equity (in millions) $ 80.0 $ 75.5 $ 71.5 $ 68.0
Ratio of Equity to Assets 10.08 % 9.92 % 9.34 % 8.84 %
Tangible Equity Ratio 9.67 % 9.48 % 8.90 % 8.40 %
Total Risk-Based Capital Ratio 14.30 % 13.52 % 12.72 % 12.21 %
Book Value per Common Share $ 38.79 $ 36.19 $ 34.09 $ 32.12
Tangible Book Value Per Common Share $ 37.02 $ 34.43 $ 32.33 $ 30.37
Total Assets (in millions) $ 793.2 $ 761.5 $ 765.1 $ 769.5

Over the past three years, all of the Company's key capital measures have increased.

"In three years," said Little, "the Company's equity to assets ratio has gone from under 9% to over 10%, our stockholders' equity has gone from under $70 million to $80 million and our tangible book value per share has grown from $30.37 to $37.02."

Asset Quality
The following table sets forth asset quality ratios for each of the past five quarters and the past four years:

Net Charge offs, ALLL, NPAs

QUARTERLY COMPARISON Sep '11 Jun '11 Mar '11 Dec '10 Sep'10
Net Charge-offs/Average Loans 0.09 % 0.57 % 0.09 % 0.08 % 0.08 %
ALLL*/NPLs 76.63 % 69.94 % 68.32 % 66.36 % 63.92 %
ALLL*/NPAs 67.67 % 56.45 % 60.29 % 58.11 % 59.02 %
ALLL*/Loans 1.37 % 1.39 % 1.78 % 1.68 % 1.55 %
NPAs/Assets 1.55 % 1.82 % 2.22 % 2.27 % 2.06 %
*ALLL figures include specific reserves
FISCAL YEAR COMPARISON 2011 2010 2009 2008
Net Charge-offs/Average Loans 0.82 % 0.24 % 0.29 % 0.06 %
ALLL/NPLs 76.63 % 63.92 % 95.44 % 86.81 %
ALLL/NPAs 67.67 % 59.02 % 74.85 % 81.96 %
ALLL/Loans 1.37 % 1.55 % 1.14 % 0.94 %
NPAs/Assets 1.55 % 2.06 % 1.19 % 0.88 %

Allowance for Loan Loss Provision & Charge-offs
The following table sets forth the allowance for loan loss activity for each of the past 5 quarters.

QUARTERLY COMPARISON (in 000's) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Beginning ALLL $ 8,123 $ 10,452 $ 9,953 $ 9,256 $ 8,830
Provision for Loan Losses 750 1,000 1,000 1,150 900
Net Charge-offs 542 3,329 501 453 474
Ending ALLL $ 8,331 $ 8,123 $ 10,452 $ 9,953 $ 9,256
Ending ALLL (net of specific reserves) $ 7,783 $ 8,075 $ 7,455 $ 7,046 $ 7,125

Net charge-offs for the quarter were $0.5 million, or 0.09% of average loans, compared to $0.5 million or 0.08% of average loans for the same period a year ago. For the twelve months ended September 30, 2011, net charge-offs were $4.8 million or 0.82% of average loans, compared to $1.4 million or 0.24% of loans for the twelve months ended September 30, 2010.

Non-performing assets decreased to $12.3 million, or 1.55% of total assets at September 30, 2011, compared to $14.4 million, or 1.82% of total assets at June 30, 2011 and $15.7 million, or 2.06% of total assets a year ago, primarily due to a decrease in the portfolio of foreclosed assets and delinquent loans.

FISCAL YEAR COMPARISON (in 000's) 2011 2010 2009 2008
Beginning ALLL $ 9,256 $ 6,806 $ 5,545 $ 5,083
Provision for Loan Losses 3,900 3,896 3,026 825
Net Charge-offs 4,825 1,446 1,765 363
Ending ALLL $ 8,331 $ 9,256 $ 6,806 $ 5,545
Ending ALLL (net of specific reserves) $ 7,783 $ 7,125 $ 6,264 $ 5,201

"Over the past four fiscal years, our provision for loan loss has totaled $11.6 million," said Little, "while our net charge-offs have amounted to only $8.4 million. As a result, our gross allowance for loan loss has increased to $8.3 million compared to $5.5 million three years ago. Furthermore, we did this at the same time that capital increased."

Net Interest Income

QUARTERLY COMPARISON (In 000's) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Interest Income $ 9,861 $ 9,758 $ 9,736 $ 10,003 $ 10,163
Interest Expense 2,078 2,185 2,363 2,542 2,728
Net Interest Income $ 7,783 $ 7,573 $ 7,373 $ 7,461 $ 7,435

Net interest income for the three months ended September 30, 2011 amounted to $7.8 million compared to $7.4 million for the quarter ended September 30, 2010, an increase of 4.7%, or $348,000. Interest income on loans increased with the increase in the loan portfolio this quarter. The decrease in interest paid on deposits resulted from a decrease in the average interest rates paid on deposits.

FISCAL YEAR COMPARISON (In 000's) 2011 2010 2009 2008
Interest Income $ 39,358 $ 41,336 $ 44,237 $ 45,633
Interest Expense $ 9,168 11,704 15,297 19,733
Net Interest Income $ 30,190 $ 29,632 $ 28,940 $ 25,900

Net interest income for fiscal 2011 amounted to $30.2 million compared to $25.9 million for fiscal 2008, an increase of 16.6%. "Our net interest income has increased consistently for the past three years," said Little.

Net Interest Margin and Spread

QUARTERLY COMPARISON Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Yield on Earning Assets 5.48 % 5.46 % 5.61 % 5.75 % 5.84 %
Cost of Interest Bearing Liabilities 1.36 % 1.43 % 1.57 % 1.69 % 1.79 %
Spread 4.13 % 4.03 % 4.04 % 4.06 % 4.05 %
Net Interest Margin 4.33 % 4.24 % 4.25 % 4.29 % 4.27 %
FISCAL YEAR COMPARISON 2011 2010 2009 2008
Yield on Earning Assets 5.58 % 5.93 % 6.12 % 6.60 %
Cost of Interest Bearing Liabilities 1.51 % 1.91 % 2.40 % 3.17 %
Spread 4.07 % 4.02 % 3.73 % 3.42 %
Net Interest Margin 4.28 % 4.25 % 4.01 % 3.71 %

Net interest margin amounted to 4.33% for the three-month period ended September 30, 2011, compared to 4.24% for the linked quarter and 4.27% for quarter-ended September 30, 2010. Net interest margin has increased every year for the past three years.

"Since 2008, net interest margin has increased from 3.71% to 4.28% for fiscal 2011," said Little.

Operating Revenue
Operating Revenue for the quarter, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $11.8 million, which was 3.5% higher than the same quarter in 2010. "Each year, for the past three years, the Company has posted record operating revenue," said Little.

The tables below reflect Teche's operating revenues in millions over the past five quarters and the past four years:

QUARTERLY COMPARISON
Operating Revenue (in millions) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Net Interest Income $ 7.8 $ 7.6 $ 7.4 $ 7.5 $ 7.4
Non-interest Income 4.0 3.9 3.8 4.0 4.0
Operating Revenue $ 11.8 $ 11.5 $ 11.2 $ 11.5 $ 11.4
FISCAL YEAR COMPARISON
Operating Revenue (in millions) 2011 2010 2009 2008
Net Interest Income $ 30.2 $ 29.6 $ 29.0 $ 25.9
Non-interest Income $ 15.7 $ 16.1 $ 16.3 $ 15.8
Operating Revenue $ 45.9 $ 45.7 $ 45.3 $ 41.7

Non-Interest Income
Non-interest income increased slightly to $4.0 million for the quarter compared to $3.9 million in the linked quarter and $4.0 million a year ago. This amounted to 2.01% of average assets for the quarter, compared to 2.02% for the linked quarter and 2.08% a year ago.

QUARTERLY COMPARISON
Non-Interest Income (thousands) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Interchange fee Income 830 881 820 786 782
Other Non-Interest Income 3,136 3,057 3,012 3,186 3,182
Total Non-Interest Income $ 3,966 3,938 3,832 3,972 3,964
Total Non-Interest Income/Assets 2.01 % 2.02 % 2.02 % 2.09 % 2.08 %
Non-Interest Expense 7,855 7,777 7,918 7,583 7,732
Non-Interest Expense/Assets 3.99 % 3.99 % 4.17 % 3.99 % 4.06 %
FISCAL YEAR COMPARISON
Non-Interest Income (thousands) 2011 2010 2009 2008
Interchange fee Income 3,317 N/A N/A N/A
Other Non-Interest Income 12,391 N/A N/A N/A
Total Non-Interest Income 15,708 16,087 16,328 15,813
Total Non-Interest Income/Assets 2.01 % 2.11 % 2.08 % 2.11 %
Non-Interest Expense 31,131 31,229 31,372 30,552
Non-Interest Expense/Assets 4.03 % 4.10 % 4.02 % 4.07 %

Non-Interest Expense
For the quarter, non-interest expense was $7.9 million or 3.99% of average assets, compared to the linked quarter of $7.8 million or 3.99% of average assets, an increase of 1.0%. Compared to the same quarter in fiscal 2010, non-interest expense remained relatively the same.

For the year, non-interest expense decreased, as non-interest income increased. Since 2008, both non-interest income and non-interest expense have remained relatively steady.

Net Income and Dividends
On August 24, 2011, the board of directors declared a $0.36 per share quarterly dividend, its sixty-fifth consecutive. Based on the closing price of the Company's common stock of $31.82 on that date, the annualized dividend yield was 4.5%. Since 2003, the Company has increased dividends for nine consecutive years.

QUARTERLY COMPARISON
(In 000's) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
Dividends Declared Per Share $ 0.36 $ 0.36 $ 0.36 $ 0.355 $ 0.355
Basic Earnings Per Common Share $ 1.02 $ 0.86 $ 0.73 $ 0.88 $ 0.89
Diluted Earnings Per Common Share $ 1.01 $ 0.85 $ 0.72 $ 0.87 $ 0.88
FISCAL YEAR COMPARISON
(In 000's) 2011 2010 2009 2008
Dividends Declared Per Share $ 1.435 $ 1.42 $ 1.41 $ 1.37
Basic Earnings Per Common Share $ 3.49 $ 3.40 $ 3.38 $ 2.65
Diluted Earnings Per Common Share $ 3.45 $ 3.37 $ 3.35 $ 2.63

Loans

QUARTERLY COMPARISON
(In 000,000's) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
SmartGrowth Loans
Consumer $ 108.8 $ 109.5 $ 109.1 $ 111.1 $ 111.6
Commercial 209.5 201.3 207.5 208.8 212.9
Home Equity 48.8 51.3 51.0 52.2 53.4
SmartMortgages 92.9 88.0 88.8 89.4 87.0
Total SmartGrowth Loans 460.0 450.1 456.5 461.5 464.9
Mortgage Loans (owner occupied conforming) 148.6 133.3 131.7 132.2 131.0
Total Loans $ 608.6 $ 583.4 $ 588.2 $ 593.7 $ 595.9

Gross loans receivable increased to $608.6 million at September 30, 2011, from $583.4 million at June 30, 2011 and $595.9 million at September 30, 2010, representing a linked quarter increase of $25.2 million, or 4.3% and a twelve month increase of $12.7 million or 2.1%, primarily due to an increase in mortgage loans. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans and consumer loans, were $460.0 million, or 75.6% of total loans at September 30, 2011, compared to $450.1 million, or 77.2% at June 30, 2011 and $464.9 million at September 30, 2010, for a three month increase of $9.9 million, or 2.2% and a twelve month decrease of $4.9 million, or 1.059%.

Commercial loan balances at September 30, 2011 amounted to $209.5 million, compared to $201.3 million at June 30, 2011 and $212.9 million at September 30, 2010, for a three month increase of $8.2 million or 3.9% and a twelve month decrease of $3.4 million, or 1.6%. Consumer loan balances at September 30, 2011 amounted to $108.8 million, compared to $109.5 million at June 30, 2011 and $111.6 million at September 30, 2010, a linked quarter decrease of $0.7 million, or 0.6%.

FISCAL YEAR COMPARISON
(In 000,000's) 2011 2010 2009 2008
SmartGrowth Loans
Consumer $ 108.8 $ 111.6 $ 108.0 $ 98.6
Commercial 209.5 212.9 210.2 187.8
Home Equity 48.8 53.4 58.3 55.7
SmartMortgages 92.9 87.0 83.8 87.4
Total SmartGrowth Loans 460.0 464.9 460.3 429.5
Mortgage Loans (owner occupied conforming) 148.6 131.0 135.0 160.6
Total Loans $ 608.6 $ 595.9 $ 595.3 $ 590.1

Deposits

QUARTERLY COMPARISON
(In 000,000's) Sep '11 Jun '11 Mar '11 Dec '10 Sep '10
SmartGrowth Deposits
Checking $ 190.8 $ 209.1 $ 193.2 $ 186.2 $ 173.2
Money Market 55.0 55.3 56.6 55.6 60.3
Savings 190.7 191.6 188.8 169.3 166.7
Total SmartGrowth Deposits $ 436.5 $ 455.9 $ 438.7 $ 411.1 $ 400.2
Time Deposits 162.1 169.4 172.2 172.3 179.2
Total Deposits $ 598.6 $ 625.3 $ 610.9 $ 583.4 $ 579.4

"SmartGrowth deposits continue to increase, led by growth in checking deposits," said Little. "As a result, our cost of funds continues to go down and our net interest margin remains stable."

The average yield on SmartGrowth deposits is 0.22%, compared to 0.24% for the linked quarter and 0.41% a year ago.

Three Month Growth. The Company's SmartGrowth Deposits, consisting of checking, savings and money market accounts, decreased this quarter due to a single checking customer. Total deposits decreased to $598.6 million at September 30, 2011, from $625.3 million at June 30, 2011, a linked quarter decrease of $26.7 million or 4.3%.

Checking account balances at September 30, 2011 decreased $18.3 million, or 8.8%, to $190.8 million from $209.1 million at June 30, 2011.

Twelve Month Growth. Total deposits increased to $598.6 million at September 30, 2011, from $579.4 million at September 30, 2010, a twelve month increase of $19.2 million, or 3.3%. Total SmartGrowth Deposits increased $36.3 million, or 9.1% from $400.2 million at September 30, 2010.

SmartGrowth Deposits amounted to 72.9% of total deposits as of September 30, 2011 compared to 69.1% at September 30, 2010.

Checking account balances at September 30, 2011 increased 10.2% or $17.6 million in the past 12 months. Checking account balances now account for 31.9% of total deposits compared to 29.9% at September 30, 2010.

Total SmartGrowth deposits increased $36.4 million or 9.1% for fiscal 2011, primarily due to growth in checking and savings balances.

FISCAL YEAR COMPARISON
(In 000,000's) 2011 2010 2009 2008
SmartGrowth Deposits
Checking $ 190.8 $ 173.2 $ 165.8 $ 144.6
Money Market 55.0 60.3 95.5 130.4
Savings 190.7 166.7 106.5 55.4
Total SmartGrowth Deposits $ 436.5 $ 400.2 $ 367.7 $ 330.4
Time Deposits 162.1 179.2 217.7 258.8
Total Deposits $ 598.6 $ 579.4 $ 585.5 $ 589.2

Over the past three years, SmartGrowth deposits have increased $106.1 million or 32.1% primarily due to increases in checking and savings account balances.

"We are very pleased that we are growing SmartGrowth Deposits, and increasing overall deposits and reducing our cost of funds," said Little.

Teche Holding Company is the parent company of Teche Federal Bank, which operates nineteen offices in South Louisiana and serves over 60,000 customers. Teche is the fourth largest publicly traded bank holding company based in Louisiana with over $793 million in assets. Deposits at Teche Federal Bank are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (FDIC). Teche Holding Company's common stock is traded under the symbol "TSH" on the NYSE AMEX.

Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Teche Holding Company with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Selected Financial Data
(UNAUDITED)
THREE MONTHS ENDED
Sep. Jun. Mar. Dec. Sep.
Condensed Statements of Income 2011 2011 2011 2010 2010
Interest Income $ 9,861 $ 9,758 $ 9,736 $ 10,003 $ 10,163
Interest Expense 2,078 2,185 2,363 2,542 2,728
Net Interest Income 7,783 7,573 7,373 7,461 7,435
Provision for Loan Losses 750 1,000 1,000 1,150 900
Net Interest Income after
Provision for Loan Losses 7,033 6,573 6,373 6,311 6,535
Non Interest Income 3,966 3,938 3,832 3,972 3,964
Non Interest Expense 7,855 7,777 7,918 7,583 7,732
Income Before Gain on Securities
and Sale of Loans

3,144

2,734

2,287

2,700

2,767
Gain (Loss) on Securities (145 ) (52 ) 8 -- (95 )
Gain (Loss) on Sale of Loans 3 4 10 9 6
Income Taxes 900 896 792 885 831
Net Income $ 2,102 $ 1,790 $ 1,513 $ 1,824 $ 1,847
Selected Financial Data
Dividends Declared Per Share $ 0.36 $ 0.36 $ 0.36 $ 0.355 $ 0.355
Basic Earnings Per Common Share $ 1.02 $ 0.86 $ 0.73 $ 0.88 $ 0.89
Diluted Earnings Per Common Share $ 1.01 $ 0.85 $ 0.72 $ 0.87 $ 0.88
Annualized Return on Avg. Assets 1.07 % 0.92 % 0.80 % 0.96 % 0.97 %
Annualized Return on Avg. Equity 10.40 % 8.96 % 7.74 % 9.36 % 9.61 %
Annualized Return on Avg.
Tangible Equity (1) 10.90 % 9.40 % 8.13 % 9.84 % 10.12 %
Yield on Interest Earning Assets 5.48 % 5.46 % 5.61 % 5.75 % 5.84 %
Cost of Interest Bearing Liabilities 1.36 % 1.43 % 1.57 % 1.69 % 1.79 %
Spread 4.13 % 4.03 % 4.04 % 4.06 % 4.05 %
Net Interest Margin 4.33 % 4.24 % 4.25 % 4.29 % 4.27 %
Non-Interest Income/Avg. Assets 2.01 % 2.02 % 2.02 % 2.09 % 2.08 %
Non-Interest Expense/Avg. Assets 3.99 % 3.99 % 4.17 % 3.99 % 4.06 %
Quarterly Net Charge-offs/Avg. Loans 0.09 % 0.57 % 0.09 % 0.08 % 0.08 %
Weighted avg. shares Outstanding
Basic 2,064 2,073 2,072 2,068 2,074
Diluted 2,085 2,097 2,098 2,089 2,092
AVERAGE BALANCE SHEET DATA
Total Assets $ 787,782 $ 780,213 $ 759,993 $ 759,858 $ 761,191
Earning assets $ 719,384 $ 714,528 $ 693,747 $ 696,304 $ 696,494
Loans $ 591,736 $ 586,420 $ 589,879 $ 595,547 $ 597,024
Interest-bearing deposits $ 520,489 $ 529,664 $ 514,771 $ 506,887 $ 509,572
Total deposits $ 607,949 $ 613,778 $ 590,664 $ 579,902 $ 576,373
Total stockholders' equity $ 80,857 $ 79,942 $ 78,197 $ 77,923 $ 76,855
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense on a tax affected basis. The amount was calculated using the following information.
Average Stockholders' Equity $ 80,857 $ 79,942 $ 78,197 $ 77,923 $ 76,855
Less average goodwill and other intangible assets,
net of related income taxes

3,671

3,671

3,667

3,670

3,673
Average Tangible Equity $ 77,186 $ 76,271 $ 74,530 $ 74,253 $ 73,182
Net Income 2,102 1,790 1,513 1,824 1,847
Plus Amortization of core deposit
intangibles, net of related income taxes

2

3

2

3

5
Net Income, as adjusted $ 2,104 $ 1,793 $ 1,515 $ 1,827 $ 1,852

TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Selected Financial Data
(UNAUDITED)
Sep. Sep. Sep. Sep.
Condensed Statements of Income 2011 2010 2009 2008
Interest Income $ 39,358 $ 41,336 $ 44,237 $ 45,633
Interest Expense 9,168 11,704 15,297 19,733
Net Interest Income 30,190 29,632 28,940 25,900
Provision for Loan Losses 3,900 3,896 3,026 825
Net Interest Income after
Provision for Loan Losses 26,290 25,736 25,914 25,075
Non Interest Income 15,708 16,087 16,328 15,813
Non Interest Expense 31,131 31,229 31,372 30,552
Income Before Gain on Securities and Sale of Loans 10,867 10,594 10,870 10,336
Gain (Loss) on Securities (190 ) (140 ) (1,035 ) (2,580 )
Gain (Loss) on Sale of Loans 25 13 559 --
Income Taxes 3,474 3,366 3,258 2,047
Net Income (loss) $ 7,228 $ 7,101 $ 7,136 $ 5,709
Selected Financial Data
Dividends Declared Per Share $ 1.435 $ 1.42 $ 1.41 $ 1.37
Basic Earnings Per Common Share $ 3.49 $ 3.40 $ 3.38 $ 2.65
Diluted Earnings Per Common Share $ 3.45 $ 3.37 $ 3.35 $ 2.63
Annualized Return on Avg. Assets 0.94 % 0.93 % 0.91 % 0.76 %
Annualized Return on Avg. Equity 9.12 % 9.43 % 9.98 % 8.29 %
Annualized Return on Avg.
Tangible Equity (1) 9.58 % 9.94 % 10.49 % 8.80 %
Yield on Interest Earning Assets 5.58 % 5.93 % 6.12 % 6.54 %
Cost of Interest Bearing Liabilities 1.51 % 1.91 % 2.40 % 3.17 %
Spread 4.07 % 4.02 % 3.73 %
Net Interest Margin 4.28 % 4.25 % 4.01 % 3.71 %
Non-Interest Income/Avg. Assets 2.01 % 2.11 % 2.08 % 2.11 %
Non-Interest Expense/Avg. Assets 4.03 % 4.10 % 4.02 % 4.07 %
Net Charge-offs/Avg. Loans 0.82 % 0.24 % 0.29 % 0.06 %
Weighted avg. shares Outstanding
Basic 2,069 2,089 2,110 2,154
Diluted 2,092 2,107 2,127 2,171
AVERAGE BALANCE SHEET DATA
Total Assets $ 771,988 $ 762,355 $ 781,187 $ 749,825
Earning assets $ 705,481 $ 697,315 $ 722,409 $ 697,236
Loans $ 590,354 $ 599,134 $ 606,751 $ 594,944
Interest-bearing deposits $ 517,938 $ 512,040 $ 533,022 $ 526,456
Total deposits $ 598,070 $ 578,310 $ 597,559 $ 581,253
Total stockholders' equity $ 79,229 $ 75,279 $ 71,479 $ 68,833
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense on a tax affected basis. The amount was calculated using the following information.
Average Stockholders' Equity
$79,229
$ 75,279 $ 71,479 $ 68,833
Less average goodwill and other intangible assets, net of related income taxes
3,671
3,673 3,715 3,743
Average Tangible Equity
$75,558
$ 71,606 $ 67,764 $ 65,090
Net Income
$7,228
$ 7,101 $ 7,136 $ 5,709
Plus Amortization of core deposit intangibles, net of related income taxes
12
19 28 36
Net Income, as adjusted
$ 7,240
$ 7,120 $ 7,164 $ 5,745

TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Balance Sheet
(UNAUDITED)
Sep. 2011 Jun. 2011 Mar. 2011 Dec. 2010 Sep. 2010
SmartGrowth Loans
Consumer $ 108,849 $ 109,476 $ 109,092 $ 111,139 $ 111,571
Commercial 209,460 201,324 207,509 208,797 212,933
Home Equity 48,799 51,293 51,045 52,182 53,405
SmartMortgage Loans 92,910 88,019 88,799 89,389 86,959
Total SmartGrowth Loans 460,018 450,112 456,445 461,507 464,868
Mortgage Loans (owner occupied conforming) 148,584 133,264 131,708 132,224 131,023
608,602 583,376 588,153 593,731 595,891
Allowance for Loan Losses -8,331 -8,123 -10,452 -9,953 -9,256
Loans Receivable, Net 600,271 575,253 577,701 583,778 586,635
Cash and Securities 134,902 154,061 144,465 110,405 115,217
Goodwill and Other Intangibles 3,670 3,673 3,678 3,682 3,687
Foreclosed Real Estate 1,405 2,694 2,039 2,079 1,181
Other 52,955 53,323 54,269 53,757 54,804
TOTAL ASSETS $ 793,203 $ 789,004 $ 782,152 $ 753,701 $ 761,524
SmartGrowth Deposits
Checking $ 190,822 $ 209,080 $ 193,244 $ 186,240 $ 173,206
Money Market 54,970 55,280 56,618 55,557 60,246
Savings 190,727 191,586 188,819 169,326 166,734
Total Smart Growth Deposits 436,519 455,946 438,681 411,123 400,186
Time Deposits 162,063 169,377 172,211 172,316 179,169
Total Deposits 598,582 625,323 610,892 583,439 579,355
FHLB Advances 108,184 79,533 83,585 87,756 100,017
Other Liabilities 6,450 5,567 10,097 6,009 6,639
Stockholders' Equity 79,987 78,581 77,578 76,497 75,513
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 793,203 $ 789,004 $ 782,152 $ 753,701 $ 761,524
Ratio of Equity to Assets 10.08 % 9.96 % 9.92 % 10.15 % 9.92 %
Tangible Equity Ratio (1) 9.67 % 9.54 % 9.49 % 9.71 % 9.48 %
Total Risk-Based Capital Ratio 14.30 % 14.26 % 13.94 % 13.79 % 13.52 %
Book Value per Common Share $ 38.79 $ 37.87 $ 37.23 $ 36.81 $ 36.19
Tangible Book Value Per Common Share (1) $ 37.02 $ 36.11 $ 35.47 $ 35.04 $ 34.43
Shares Outstanding (in thousands) 2,062 2,075 2,084 2,078 2,082
Non-performing Assets/Total Assets 1.55 % 1.82 % 2.22 % 2.27 % 2.06 %
ALLL/Loans 1.37 % 1.39 % 1.78 % 1.68 % 1.55 %
ALLL/NPLs 76.63 % 69.94 % 68.32 % 66.36 % 63.92 %
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense on a tax affected basis. The amount was calculated using the following information.
Stockholders' Equity $ 79,987 $ 78,581 $ 77,578 $ 76,497 $ 75,513
Less goodwill and other Intangible assets, net of related income taxes -3,659 -3,661 -3,664 -3,670 -3,673
Tangible Stockholders' Equity $ 76,328 $ 74,920 $ 73,914 $ 72,827 $ 71,840
Total Assets $ 793,203 $ 789,004 $ 782,152 $ 753,701 $ 761,524
Less goodwill and other Intangible assets, net of related income taxes 3,659 -3,661 -3,664 -3,670 -3,673
Total Tangible Assets $ 789,544 $ 785,343 $ 778,488 $ 750,031 $ 757,851

TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Balance Sheet
Fiscal Comparison
(UNAUDITED)
Sep.
2011
Sep.
2010
Sep.
2009
Sep.
2008
SmartGrowth Loans
Consumer $ 108,849 $ 111,571 $ 108,013 $ 98,632
Commercial 209,460 212,933 210,201 187,791
Home Equity 48,799 53,405 58,348 55,713
SmartMortgage Loans 92,910 86,959 83,775 87,404
Total SmartGrowth Loans 460,018 464,868 460,337 429,540
Mortgage Loans (owner occupied conforming) 148,584 131,023 134,996 160,596
608,602 595,891 595,333 590,136
Allowance for Loan Losses -8,331 -9,256 -6,806 -5,545
Loans Receivable, Net 600,271 586,635 588,527 584,591
Cash and Securities 134,902 115,217 125,058 135,819
Goodwill and Other Intangibles 3,670 3,687 3,715 3,756
Foreclosed Real Estate 1,405 1,181 1,953 343
Other 52,955 54,804 45,818 44,979
TOTAL ASSETS $ 793,203 $ 761,524 $ 765,071 $ 769,488
SmartGrowth Deposits
Checking $ 190,822 $ 173,206 $ 165,796 $ 144,601
Money Market 54,970 60,246 95,461 130,399
Savings 190,727 166,734 106,479 55,390
Total Smart Growth Deposits 436,519 400,186 367,736 330,390
Time Deposits 162,063 179,169 217,733 258,838
Total Deposits 598,582 579,355 585,469 589,228
FHLB Advances 108,184 100,017 100,628 104,877
Other Liabilities 6,450 6,639 7,490 7,339
Stockholders' Equity 79,987 75,513 71,484 68,044
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 793,203 $ 761,524 $ 765,071 $ 769,488
Ratio of Equity to Assets 10.08 % 9.92 % 9.34 % 8.84 %
Tangible Equity Ratio (1) 9.67 % 9.48 % 8.90 % 8.40 %
Total Risk-Based Capital Ratio 14.30 % 13.52 % 12.72 % 12.21 %
Book Value per Common Share $ 38.79 $ 36.19 $ 34.09 $ 32.12
Tangible Book Value Per Common Share (1) $ 37.02 $ 34.43 $ 32.33 $ 30.37
Shares Outstanding (in thousands) 2,062 2,082 2,097 2,118
Non-performing Assets/Total Assets 1.55 % 2.06 % 1.19 % 0.88 %
ALLL/Loans 1.37 % 1.55 % 1.14 % 0.94 %
ALLL/NPLs 76.63 % 63.92 % 95.44 % 86.81 %
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense on a tax affected basis. The amount was calculated using the following information.
Stockholders' Equity $ 79,987 $ 75,513 $ 71,484 $ 68,044
Less goodwill and other Intangible
assets, net of related income taxes -3,659 -3,673 -3,692 -3,721
Tangible Stockholders' Equity $ 76,328 $ 71,840 $ 67,792 $ 64,323
Total Assets $ 793,203 $ 761,524 765,071 $ 769,488
Less goodwill and other Intangible assets, net of related income taxes -3,659 -3,673 -3,692 -3,721
Total Tangible Assets $ 789,544 $ 757,851 $ 761,379 $ 765,767





Quarter-End Loan Data
Total Net Charge- Net Charge- 90 Days + 90 Days +
September 30, 2011 Loans Offs Offs Non Accrual Non Accrual
Dollars Dollars Percentage Dollars Percentage
Real Estate Loans
Construction $ 20,046 $ -- 0.00 % $ 1,021 5.1 %
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End Loans (HELOC) 20,287 -- 0.00 % 104 0.51 %
All Other
Secured by First Liens 326,027 25 0.01 % 2,931 0.90 %
Secured by Junior Liens 9,032 60 0.66 % 5 0.05 %
Multifamily (5+ Dwelling Units) 23,747 -- 0.00 % 863 3.63 %
Nonresidential Property (Except Land) 87,797 105 0.12 % 412 0.47 %
Land 35,774 306 0.86 % 4,963 13.87 %
Consumer 20,023 7 0.03 % 130 0.65 %
Commercial 15,751 299 1.90 % 4.833 30.7 %
Subtotal – Real Estate Loans $ 522,710 $ 496 0.09 % $ 10,299 1.97 %
Non-Real Estate Loans:
Commercial Loans $ 27,403 (1 ) 0.00 % $ -- 0.00 %
Consumer Loans:
Loans on Deposits 3,737 7 0.19 % 69 1.85 %
Auto Loans 2,105 -- 0.00 % 23 1.07 %
Mobile Home Loans 38,285 31 0.08 % 379 0.99 %
Other 14,362 9 0.06 % 101 0.70 %
Subtotal – Non Real Estate Loans $ 85,892 $ 46 0.05 % $ 572 0.67 %
Gross Loans $ 608,602 $ 542 0.09 % $ 10,871 1.79 %
Non-accruals $ 10,079
90 + Days Past Due 793
OREO & Foreclosed 1,438
Nonperforming Assets (Net) $ 12,310
Performing TDRs $ 1,075





Fiscal Year-End Loan Data
Total Net Charge- Net Charge- 90 Days + 90 Days +
September 30, 2011 Loans Offs Offs Non Accrual Non Accrual
Dollars Dollars Percentage Dollars Percentage
Real Estate Loans
Construction $ 20,046 $ 51 0.25 % $ 1,021 5.1 %
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End Loans (HELOC) 20,287 30 0.15 % 104 0.51 %
All Other
Secured by First Liens 326,027 983 0.30 % 2,931 0.90 %
Secured by Junior Liens 9,032 80 0.89 % 5 0.05 %
Multifamily (5+ Dwelling Units) 23,747 898 3.78 % 863 3.63 %
Nonresidential Property (Except Land) 87,797 666 0.76 % 412 0.47 %
Land 35,774 1,672 4.67 % 4,963 13.87 %
Consumer 20,023 6 0.03 % 130 0.65 %
Commercial 15,751 1,666 10.58 % 4,833 30.7 %
Subtotal – Real Estate Loans $ 522,710 $ 4,380 0.84 % $ 10,299 1.97 %
Non-Real Estate Loans:
Commercial Loans $ 27,403 $ 137 0.50 % $ -- 0.00 %
Consumer Loans:
Loans on Deposits 3,737 5 0.13 % 69 1.85 %
Auto Loans 2,105 1 0.05 % 23 1.07 %
Mobile Home Loans 38,285 225 0.59 % 379 0.99 %
Other 14,362 77 0.54 % 101 0.70 %
Subtotal – Non Real Estate Loans $ 85,892 $ 445 0.52 % $ 572 0.67 %
Gross Loans $ 608,602 $ 4,825 0.79 % $ 10,871 1.79 %
Non-accruals $ 10,079
90 + Days Past Due 793
OREO & Foreclosed 1,438
Nonperforming Assets (Net) $ 12,310
Performing TDRs $ 1,075



Quarter-End Loan Data
Total Net Charge- Net Charge- 90 Days + 90 Days +
June 30, 2011 Loans Offs Offs Non Accrual Non Accrual
Dollars Dollars Percentage Dollars Percentage
Real Estate Loans
Construction $ 17,158 $ 51 0.30 % $ 1,052 6.13 %
Permanent, Secured by:
1-4 Dwelling Units: 19,942 -- 0.00 % 69 0.35 %
Revolving, Open-End Loans (HELOC)
All Other
Secured by First Liens 307,948 521 0.17 % 3,367 1.09 %
Secured by Junior Liens 9,952 -- 0.00 % 35 0.35 %
Multifamily (5+ Dwelling Units) 21,309 898 4.21 % 873 4.10 %
Nonresidential Property (Except Land) 86,424 333 0.39 % 368 0.43 %
Land 36,738 1,367 3.72 % 5,413 14.73 %
Consumer 20,472 -- 0.00 % 69 0.34 %
Commercial 16,266 1,367 8.40 % 5,344 32.85 %
Subtotal – Real Estate Loans $ 499,471 $ 3,170 0.63 % $ 11,177 2.24 %
Non-Real Estate Loans:
Commercial Loans $ 25,433 $ 5 0.02 % -- 0.00 %
Consumer Loans:
Loans on Deposits 3,889 -- 0.00 % 3 0.08 %
Auto Loans 2,266 -- 0.00 % 17 0.75 %
Mobile Home Loans 38,585 97 0.25 % 372 0.96 %
Other 13,732 57 0.42 % 94 0.68 %
Subtotal – Non Real Estate Loans $ 83,905 $ 159 0.19 % 486 0.58 %
Gross Loans $ 583,376 $ 3,329 0.57 % $ 11,663 2.00 %
Non-accruals $ 10,863
90 + Days Past Due 800
OREO & Foreclosed 2,774
Nonperforming Assets (Net) $ 14,437
Performing TDRs 1,711





Quarter-End Loan Data
Total Net Charge- Net Charge- 90 Days + 90 Days +
March 31, 2011 Loans Offs Offs Non Accrual Non Accrual
Dollars Dollars Percentage Dollars Percentage
Real Estate Loans
Construction $ 16,462 -- 0.00 % $ 1,021 6.20 %
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End Loans (HELOC) 18,691 (15 ) -0.08 % 27 0.14 %
All Other
Secured by First Liens 307,532 112 0.04 % 3,038 0.99 %
Secured by Junior Liens 10,244 23 0.22 % 30 0.29 %
Multifamily (5+ Dwelling Units) 22,358 -- 0.00 % 897 4.01 %
Nonresidential Property (Except Land) 90,532 228 0.25 % 884 0.98 %
Land 38,923 -- 0.00 % 5,025 12.91 %
Consumer 20,059 -- 0.00 % 59 0.29 %
Commercial 18,864 -- 0.00 % 4,966 26.33 %
Subtotal – Real Estate Loans $ 504,742 $ 348 0.07 % $ 10,922 2.16 %
Non-Real Estate Loans:
Commercial Loans $ 24,813 $ 128 0.52 % $ 835 3.37 %
Consumer Loans:
Loans on Deposits 3,921 -- 0.00 % -- 0.00 %
Auto Loans 2,428 -- 0.00 % 7 0.29 %
Mobile Home Loans 38,925 25 0.06 % 471 1.21 %
Other 13,324 -- 0.00 % 167 1.25 %
Subtotal – Non Real Estate Loans $ 83,411 $ 153 0.18 % $ 1,480 1.77 %
Gross Loans $ 588,104 $ 501 0.09 % $ 12,402 2.11 %
Non-accruals 11,305
90 + Days Past Due 1,097
OREO & Foreclosed 2,039
Nonperforming Assets (Net) $ 14,441



Quarter-End Loan Data
Total Net Charge- Net Charge- 90 Days + 90 Days +
December 31, 2010 Loans Offs Offs Non Accrual Non Accrual
Dollars Dollars Percentage Dollars Percentage
Real Estate Loans
Construction $ 18,140 -- 0.00 % $ 1,015 5.59 %
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End Loans (HELOC) 18,585 45 0.24 % -- 0.00 %
All Other
Secured by First Liens 308,088 325 0.11 % 3,678 1.19 %
Secured by Junior Liens 10,840 (3 ) -0.03 % 102 0.94 %
Multifamily (5+ Dwelling Units) 21,752 -- 0.00 % 791 3.64 %
Nonresidential Property (Except Land) 91,411 -- 0.00 % - 0.00 %
Land 39,597 (1 ) 0.00 % 5,478 13.83 %
Consumer 20,076 (1 ) 0.00 % 98 0.49 %
Commercial 19,521 -- 0.00 % 5,380 27.56 %
Subtotal – Real Estate Loans $ 508,413 366 0.07 % $ 11,064 2.18 %
Non-Real Estate Loans:
Commercial Loans $ 24,948 5 0.02 % $ 898 3.60 %
Consumer Loans:
Loans on Deposits 4,445 (2 ) -0.04 % 2 0.04 %
Auto Loans 2,684 1 0.04 % 7 0.26 %
Mobile Home Loans 39,628 72 0.18 % 497 1.25 %
Other 13,613 11 0.08 % 155 1.14 %
Subtotal – Non Real Estate Loans $ 85,318 87 0.10 % $ 1,559 1.83 %
Gross Loans $ 593,731 $ 453 0.08 % $ 12,623 2.13 %
Non-accruals 11,324
90 + Days Past Due 1,299
OREO & Foreclosed 2,129
Nonperforming Assets (Net) $ 14,752

Quarter-End Loan Data Total Net Charge- Net Charge- 90 Days + 90 Days +
September 30, 2010 Loans Offs Offs Non Accrual Non Accrual
Dollars Dollars Percentage Dollars Percentage
Real Estate Loans
Construction $ 21,310 $ 102 0.48 % $ 1,066 5.00 %
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End Loans (HELOC) 18,530 51 0.28 % -- 0.00 %
All Other
Secured by First Liens 303,587 -- 0.00 % 4,829 1.59 %
Secured by Junior Liens 11,048 (4 ) -0.04 % 108 0.98 %
Multifamily (5+ Dwelling Units) 24,357 -- 0.00 % 1,522 6.25 %
Nonresidential Property (Except Land) 85,718 257 0.30 % 118 0.14 %
Land 39,555 23 0.06 % 6,100 15.42 %
Consumer 20,044 -- 0.00 % 58 0.29 %
Commercial 19,511 23 0.12 % 6,042 30.97 %
Subtotal – Real Estate Loans $ 504,105 $ 429 0.09 % $ 13,743 2.73 %
Non-Real Estate Loans:
Commercial Loans $ 30,929 -- 0.00 % $ 154 0.50 %
Consumer Loans:
Loans on Deposits 4,672 1 0.02 % 27 0.58 %
Auto Loans 2,716 3 0.11 % 4 0.15 %
Mobile Home Loans 40,094 20 0.05 % 458 1.14 %
Other