SOURCE: Teche Holding Company

Teche Holding Company

October 22, 2010 08:00 ET

Teche Holding Company Posts Second Consecutive Record EPS for FY 2010

FRANKLIN, LA--(Marketwire - October 22, 2010) - Teche Holding Company (NYSE Amex: TSH), the parent company for Teche Federal Bank, today reported that prudent lending practices, growth in SmartGrowth Deposits and Loans, a steady net interest margin and continued solid capital ratios contributed to record earnings per share for fiscal 2010, on top of record earnings for fiscal 2009. Earnings for fiscal 2010 amounted to $7.1 million, or $3.37 per diluted share, compared to $7.1 million, or $3.35 per diluted share, for fiscal 2009, an increase of $0.02 per diluted share, or 0.6%.

Earnings for the quarter ended September 30, 2010 amounted to $1.85 million, or $0.88 per diluted share, compared to $1.98 million, or $0.94 per diluted share, for the same quarter in fiscal 2009, a decrease of $0.06 per diluted share, or 6.4%.

"Very few banks in America have been able to post high earnings consistently in recent years," said Patrick Little, President and CEO. "One important result of our recent positive results has been a steady increase in all our capital measures, including Stockholders' Equity, Tangible Book Value per Share, and the ratio of Equity to Assets and, in addition, we have maintained a steady dividend."

The Company reported the following key achievements for fiscal 2010:

--  Record EPS of $3.37, marking the second consecutive fiscal year of
    record earnings per share.
--  Net Interest income increased 2.4% to $29.6 million from $28.9 million.
--  Net Charge Offs for the year amounted to 0.24% of average loans.
--  Tangible equity increased to 9.48% of total assets at September 30,
    2010, compared to 8.90% a year ago.
--  Tangible book value per share increased to a record $34.43.
--  The Bank's total risk-based capital was a strong 13.52% at September
    30, 2010, compared to 12.72% a year ago.
--  Non interest expense decreased 0.45% to $31.2 million from
    $31.4 million for fiscal 2009.
--  SmartGrowth Loans for fiscal 2010 increased $4.5 million or 1.0%.
    SmartGrowth Loans now comprise 78.0% of all loans.
--  SmartGrowth Deposits for fiscal 2010 increased $32.5 million or 8.8%.
    SmartGrowth Deposits now comprise 69.1% of all deposits.
--  The Company paid a dividend of $1.42 per share compared to $1.41 per
    share for fiscal 2009.

The Company reported the following key achievements for the fourth quarter of fiscal 2010:

--  Diluted earnings per share for the quarter remained strong at $0.88.
--  Net charge offs for the quarter amounted to 0.08% of average loans.
--  The average cost of interest bearing liabilities amounted to 1.79%,
    down from 1.93% for the quarter ended June 30, 2010.
--  Annualized return on average assets amounted to 0.97%, compared to
    0.95% in the linked quarter.
--  Annualized return on average tangible equity remained strong at 10.12%.
--  Allowance for loan losses to loans climbed to 1.55%, compared to 1.48%
    for the linked quarter.
--  Quarterly net interest income remained steady at $7.4 million.

Asset Quality

Non-performing assets totaled $15.7 million, or 2.06% of total assets, at September 30, 2010, compared to $9.1 million, or 1.19% of total assets, a year ago, and $16.5 million, or 2.15% of total assets, at June 30, 2010. Non-performing assets consist of non-accrual loans, accruing loans 90 days or more past due and other real estate owned.

"Despite the regional challenges related to the moratorium on deepwater drilling and the related slow down in permits for new oil and gas drilling in the Gulf of Mexico, Teche has continued to maintain solid asset quality ratios," remarked Little.

The following table sets forth asset quality ratios for each of the past five quarters:

                          Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                          --------  --------  --------  --------  --------
Net Charge-offs/Average
 Loans                        0.08%     0.05%     0.07%     0.04%     0.22%
ALLL/NPLs                    63.92%    59.29%    52.18%    72.12%    95.44%
ALLL/NPAs                    59.02%    53.62%    47.76%    64.83%    74.85%
ALLL/Loans                    1.55%     1.48%     1.37%     1.29%     1.14%
Net Non-Accrual
 Loans/Loans                  2.08%     1.96%     2.05%     1.59%     1.02%
NPAs/Assets (Net of
 specific reserves)           1.88%     1.87%     2.00%     1.58%     1.19%

For fiscal 2010, net charge-offs were 0.24% of average loans compared to 0.29% for fiscal 2009. Net charge-offs in the fiscal fourth quarter were $0.5 million or 0.08% of average loans for fiscal 2010, compared to $1.3 million, or 0.22% of average loans for the same period a year ago.

The following table sets forth the activity in the allowance for loan losses for each of the past 5 quarters:

(in 000's)                 Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                           --------  --------  --------  --------  --------
Beginning ALLL             $  8,830  $  8,253  $  7,744  $  6,806  $  6,836
Provision for Loan Losses       900       900       900     1,196     1,286
Net Charge-offs                 474       323       391       258     1,316
Ending ALLL                $  9,256  $  8,830  $  8,253  $  7,744  $  6,806

The Company recorded a loan loss provision during the quarter of $0.9 million. As a result the allowance for loan losses was 1.55% of total loans, or $9.3 million, at September 30, 2010 compared to 1.14% of total loans, or $6.8 million at September 30, 2009 and 1.48% of total loans, or $8.8 million at June 30, 2010. While non-performing assets have remained at relatively low levels, the Company feels that it is prudent to continue building the allowance in the current economic environment.

Net Interest Income


                           Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                           --------  --------  --------  --------  --------
Interest Income            $ 10,163  $ 10,299  $ 10,374  $ 10,500  $ 10,880
Interest Expense              2,728     2,969     2,940     3,067     3,386
                           --------  --------  --------  --------  --------
Net Interest Income        $  7,435  $  7,330  $  7,434  $  7,433  $  7,494
                           ========  ========  ========  ========  ========

Net interest income for fiscal year 2010 amounted to $29.6 million compared to $28.9 million for the fiscal year ended September 30, 2009, an increase of 2.4%, or $0.7 million primarily due to lower rates on deposit balances offset somewhat by lower rates on loans and investments.

Net interest income for the three months ended September 30, 2010 amounted to $7.4 million compared to $7.5 million for the quarter ended September 30, 2009, a decrease of 0.8%, or $0.06 million primarily due to a decrease in the balances and interest rates paid on loans and deposits.

Net Interest Margin and Spread

                          Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                          --------  --------  --------  --------  --------
Yield on Earning Assets       5.84%     5.87%     5.99%     6.01%     6.01%
Cost of Interest Bearing
 Liabilities                  1.79%     1.93%     1.91%     1.99%     2.12%
Spread                        4.05%     3.94%     4.08%     4.02%     3.89%
Net Interest Margin           4.27%     4.18%     4.29%     4.26%     4.14%

Net interest margin amounted to 4.25% for the fiscal year ended September 30, 2010, compared to 4.01% for the fiscal year ended September 30, 2009. The increase was primarily due to lower deposit rates and balances offset by lower rates and balances in both loans and securities.

Spread amounted to 4.02% for the fiscal year ended September 30, 2010, compared to 3.73% for the fiscal year end 2009. Compared to fiscal year 2009, average yield on earnings assets decreased 19 basis points from 6.12% to 5.93%, while average cost of funds decreased 49 basis points from 2.40% to 1.91%.

Net interest margin amounted to 4.27% for the three-month period ended September 30, 2010, compared to 4.14% for the three months ended September 30, 2009. The increase was primarily due to a decrease in the average interest rate paid on interest bearing deposits.

Spread amounted to 4.05% for the three-month period ended September 30, 2010, compared to 3.88% for the same period in the previous year. Compared to the same quarter last year, average yield on earnings assets decreased 17 basis points from 6.01% to 5.84%, while average cost of funds decreased 33 basis points from 2.12% to 1.79%.

Operating Revenue

Operating revenue for the fiscal year ended September 30, 2010, consisting of net income (before provision for loan losses) plus non-interest income, amounted to $45.7 million, an increase of 1.00% or $0.4 million, compared to $45.3 million for the fiscal year ended 2009.

Operating revenue for the quarter, consisting of net interest income (before provision for loan losses) plus non-interest income, amounted to $11.4 million, a decrease of 2.7% or $0.3 million, compared to $11.7 million for the same period in fiscal 2009.

The table below reflects Teche's operating revenues in millions over the past five quarters:

Operating Revenue         Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                          --------  --------  --------  --------  --------
Net Interest Income       $    7.4  $    7.3  $    7.4  $    7.4  $    7.5
Non Interest Income            4.0       4.2       4.0       4.0       4.2
                          --------  --------  --------  --------  --------
Operating Revenue         $   11.4  $   11.5  $   11.4  $   11.4  $   11.7
                          ========  ========  ========  ========  ========

Non Interest Income and Non Interest Expense

Net Non Interest Expense as a percentage of average assets remained steady.

Net Non Interest Expenses
 (Annualized)             Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                          --------  --------  --------  --------  --------
Non Interest Income
 (% of Avg. Assets)           2.08%     2.16%     2.08%     2.11%     2.16%
Non Interest Exp.
 (% of Avg. Assets)           4.06%     4.11%     4.20%     4.01%     4.03%
                          --------  --------  --------  --------  --------
Net Non Interest Expense
 (% of Avg Assets)            1.98%     1.95%     2.12%     1.90%     1.87%
                          ========  ========  ========  ========  ========

For the fiscal year ended September 30, 2010, non-interest expense was $31.2 million or 4.10% of average assets, compared to $31.4 million or 4.02% of average assets, for the fiscal year ended September 30, 2009, a decrease of 0.46%, primarily due to lower marketing expenses.

For the quarter, non-interest expense was $7.7 million or 4.06% of average assets, compared to the linked quarter of $7.9 million or 4.11% of average assets, a decrease of 1.8%, primarily due to reductions in compensation and marketing expense. Compared to the same quarter in fiscal 2009, non-interest expense decreased 2.1%.

Non-interest income amounted to $25.7 million for fiscal 2010, compared to $25.9 million for fiscal 2009, a decrease of 0.7%.

Non-interest income decreased to $4.0 million for the quarter compared to $4.2 million in the linked quarter and $4.2 million for the same period in fiscal 2009, primarily due to lower deposit service charges. This amounted to 2.08% of average assets for the quarter, compared to 2.16% for the linked quarter and 2.16% a year ago. Deposit fees comprised 90.7% of non-interest income for the quarter, compared to 92.0% for the linked quarter and 91.7% a year ago.

Non-interest income amounted to 34.8% of operating income for the quarter ended September 30, 2010, compared to 36.1% for the three months ended September 30, 2009 and to 36.2% for the linked quarter.

For the quarter, interchange fees amounted to $782 thousand, compared to $848 thousand for the linked quarter.

Net Income

"Our net income for fiscal 2010 was again very strong," said Little. "We had record net earnings in fiscal 2009, despite all the strong headwinds, and we were nearly able to top that in fiscal 2010. We were able to accomplish all this primarily because of our prudent lending practices, which resulted in low loan charge-offs, and modest growth in SmartGrowth Deposits and loans. As a result, we have seen continued growth in capital and key capital ratios and in book value per share."

                          Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                          --------  --------  --------  --------  --------
Net Income                $  1,847  $  1,821  $  1,700  $  1,733  $  1,983
Dividends Declared Per
 Share                    $  0.355  $  0.355  $  0.355  $  0.355  $  0.355
Basic Earnings Per Common
 Share                    $   0.89  $   0.87  $   0.81  $   0.83  $   0.95
Diluted Earnings Per
 Common Share             $   0.88  $   0.87  $   0.80  $   0.82  $   0.94
Annualized Return on Avg.
 Assets                       0.97%     0.95%     0.89%     0.91%     1.01%
Annualized Return on Avg.
 Equity                       9.61%     9.60%     9.14%     9.37%    10.91%
Annualized Return on Avg.
 Tangible Equity             10.12%    10.12%     9.64%     9.90%    11.53%

Net income for the fiscal year ended September 30, 2010 decreased by $0.035 million as compared to the fiscal year ended September 30, 2009 primarily due to increased loan loss provision and lower non-interest income offset by increases in net interest income along with decreases in non-interest expense.

Net income for the quarter ended September 30, 2010 increased by $26,000 as compared to the linked quarter primarily due to an increase in net interest income and lower interest expenses, offset somewhat by lower non-interest income.

Diluted earnings per share for the fourth quarter amounted to $0.88, the highest quarterly earnings per share for the fiscal year ending September 30, 2010.

Since 2003, the Company has increased dividends for seven consecutive years and on September 30, 2010 paid a $0.355 per share quarterly dividend, its sixty-first consecutive. Based on the closing price of the Company's common stock on September 30, 2010 of $31.00, the annualized dividend yield was 4.58%.

Capital

                          Sep '10   Jun '10   Mar '10   Dec '09   Sep '09
                          --------  --------  --------  --------  --------
Stockholders' Equity      $ 75,513  $ 74,549  $ 73,551  $ 72,322  $ 71,484
Ratio of Equity to Assets     9.92%     9.74%     9.63%     9.55%     9.34%
Tangible Equity Ratio (1)     9.48%     9.30%     9.20%     9.07%     8.90%
Risk-Based Capital Ratio     13.52%    13.30%    12.91%    12.70%    12.72%
Book Value per Common
 Share                    $  36.19  $  35.45  $  35.02  $  34.49  $  34.09
Tangible Book Value Per
 Common Share             $  34.43  $  33.70  $  33.27  $  32.74  $  32.33

The tangible equity ratio increased to 9.48%, compared to 8.90% a year ago, primarily due to earnings. Tangible book value per common share increased to $34.43 from $32.33 a year ago, an increase of $2.10, or 6.5%, primarily due to earnings.

The tangible equity ratio increased to 9.48%, compared to 9.30% for the quarter ended June 30, 2010, primarily due to earnings. Tangible book value per common share increased to $34.43, from $33.70 during the linked quarter, an increase of $0.73, or 2.2%, primarily due to earnings.

Loan Growth

                      Sep '10    Jun '10    Mar '10    Dec '09    Sep '09
                      ---------  ---------  ---------  ---------  ---------
SmartGrowth Loans
  Consumer            $ 111,571  $ 110,855  $ 110,438  $ 109,899  $ 108,013
  Commercial            212,933    212,762    212,485    213,505    210,201
  Home Equity            53,405     55,860     57,443     57,373     58,348
  SmartMortgages         86,959     86,624     86,677     86,462     83,775
                      ---------  ---------  ---------  ---------  ---------
Total SmartGrowth
 Loans                  464,868    466,101    467,043    467,239    460,337
  Mortgage Loans
   (owner occupied
   conforming)          131,023    131,590    133,478    135,048    134,996
                      ---------  ---------  ---------  ---------  ---------
Total Loans           $ 595,891  $ 597,691  $ 600,521  $ 602,287  $ 595,333

Fiscal 2010. Gross loans receivable increased to $595.9 million at September 30, 2010 from $595.3 million at September 30, 2009, an increase of $0.6 million, or 0.1%. SmartGrowth Loans increased to $464.9 million at September 30, 2010, from $460.3 million at September 30, 2009, an increase of $4.5 million, or 1.0%.

Commercial loan balances at September 30, 2010 amounted to $212.9 million, compared to $210.2 million at September 30, 2009, an increase of $2.7 million, or 1.3%. Consumer loan balances at September 30, 2010 amounted to $111.6 million, an increase of $3.6 million, or 3.3%. Commercial loan balances totaling about $49.9 million had average floor interest rates of approximately 4.40% at September 30, 2010.

Three Month Period. Gross loans receivable decreased to $595.9 million at September 30, 2010, from $597.7 million at June 30, 2010, a linked quarter decrease of $1.8 million, or 0.3%. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans and consumer loans, were $464.9 million, or 78.0% of total loans at September 30, 2010, compared to $466.1 million, or 78.0% at June 30, 2010.

Commercial loan balances at September 30, 2010 amounted to $212.9 million, compared to $212.8 million at June 30, 2010, a three month increase of $0.1 million or 0.08%. Consumer loan balances at September 30, 2010 amounted to $111.6 million, compared to $110.9 million at June 30, 2010, a linked quarter increase of $0.7 million, or 0.6%.

Deposits

                      Sep '10    Jun '10    Mar '10    Dec '09    Sep '09
                      ---------  ---------  ---------  ---------  ---------
SmartGrowth Deposits
  Total Checking      $ 173,206  $ 169,396  $ 177,174  $ 170,552  $ 165,796
  Money Market           60,246     62,643     68,763     80,034     95,461
  Savings               166,734    160,567    149,233    128,254    106,479
                      ---------  ---------  ---------  ---------  ---------
Total SmartGrowth
 Deposits             $ 400,186  $ 392,606  $ 395,170  $ 378,840  $ 367,736
Time Deposits           179,169    185,496    191,573    196,651    217,733
                      ---------  ---------  ---------  ---------  ---------
Total Deposits        $ 579,355  $ 578,102  $ 586,743  $ 575,491  $ 585,469

"Our SmartGrowth deposits increased over the past year and our cost of interest bearing liabilities decreased by 49 basis points," said Little.

Fiscal 2010 Growth. Total deposits decreased to $579.4 million at September 30, 2010, from $585.5 million at September 30, 2009, a decrease of $6.1 million, or 1.0% primarily due to balance reductions in time deposits and money market accounts offset by balance increases in savings and checking accounts. Total SmartGrowth Deposits grew $32.5 million, or 8.8% from $367.7 million at September 30, 2009.

SmartGrowth Deposits amounted to 69.1% of total deposits as of September 30, 2010 compared to 62.8% at September 30, 2009.

Checking account balances at September 30, 2010 increased 4.5% or $7.4 million in the past 12 months. Checking account balances now account for 29.9% of total deposits compared to 28.3% at September 30, 2009.

Three Month Growth. Total deposits increased to $579.4 million at September 30, 2010, from $578.1 million at June 30, 2010, a linked quarter increase of $1.3 million or 0.2%, primarily due to an increase in checking and savings accounts offset by decreases in money market and time deposits. Total SmartGrowth Deposits increased $7.6 million to $400.2 million or 1.9% at September 30, 2010, from $392.6 million at June 30, 2010.

Checking account balances at September 30, 2010 increased $3.8 million, or 2.2%, to $173.2 million from $169.4 million at June 30, 2010.

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 Federal Bank is the fourth largest publicly owned bank based in Louisiana with over $762 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. Find us on the web at www.Teche.com

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
              (Amounts in thousands, except per share data)
                               Franklin, LA
                           Statements of Income
                                (UNAUDITED)

                                         THREE MONTHS ENDED
                          ------------------------------------------------
                            Sep.      Jun.      Mar.      Dec.      Sep.
                            2010      2010      2010      2009      2009
                          --------  --------  --------  --------  --------
Interest Income           $ 10,163  $ 10,299  $ 10,374  $ 10,500  $ 10,880
Interest Expense             2,728     2,969     2,940     3,067     3,386
                          --------  --------  --------  --------  --------
Net Interest Income          7,435     7,330     7,434     7,433     7,494
Provision for Loan Losses      900       900       900     1,196     1,286
                          --------  --------  --------  --------  --------
Net Interest Income after
 Provision for Loan
 Losses                      6,535     6,430     6,534     6,237     6,208
Non Interest Income          3,964     4,153     3,956     4,014     4,225
Non Interest Expense         7,732     7,877     7,980     7,641     7,894
                          --------  --------  --------  --------  -------- 
Income Before Loss on
 Securities and Sale of
 Loans                       2,767     2,706     2,510     2,610     2,539
Loss on Securities             (95)       --        (8)      (36)     (183)
Gain on Sale of Loans            6         7        --        --       559
Income Taxes                   831       892       802       841       932
                          --------  --------  --------  --------  --------
Net Income                $  1,847  $  1,821  $  1,700  $  1,733  $  1,983
                          ========  ========  ========  ========  ========
Selected Financial Data
                          --------  --------  --------  --------  --------
Dividends Declared Per
 Share                    $  0.355  $  0.355  $  0.355  $  0.355  $  0.355
Basic Earnings Per Common
 Share                    $   0.89  $   0.87  $   0.81  $   0.83  $   0.95
Diluted Earnings Per
 Common Share             $   0.88  $   0.87  $   0.80  $   0.82  $   0.94
Annualized Return on Avg.
 Assets                       0.97%     0.95%     0.89%     0.91%     1.01%
Annualized Return on Avg.
 Equity                       9.61%     9.60%     9.14%     9.37%    10.91%
Annualized Return on Avg.
 Tangible Equity (1)         10.12%    10.12%     9.64%     9.90%    11.53%
Yield on Interest Earning
 Assets                       5.84%     5.87%     5.99%     6.01%     6.01%
Cost of Interest Bearing
 Liabilities                  1.79%     1.93%     1.91%     1.99%     2.12%
Spread                        4.05%     3.94%     4.08%     4.02%     3.89%
Net Interest Margin           4.27%     4.18%     4.29%     4.26%     4.14%
Non-Interest Income/Avg.
 Assets                       2.08%     2.16%     2.08%     2.11%     2.16%
Non-Interest Expense/Avg.
 Assets                       4.06%     4.11%     4.20%     4.01%     4.03%
Quarterly Net
 Charge-offs/Avg. Loans       0.08%     0.05%     0.06%     0.04%     0.22%
Weighted avg. shares
 Outstanding
    Basic                    2,074     2,083     2,100     2,098     2,096
    Diluted                  2,092     2,103     2,118     2,116     2,117
AVERAGE BALANCE SHEET
 DATA
                          --------  --------  --------  --------  --------
Total Assets              $761,191  $767,379  $759,908  $761,312  $784,058
Earning assets            $696,494  $701,756  $692,527  $698,268  $724,678
Loans                     $597,024  $599,883  $600,554  $599,115  $608,769
Interest-bearing deposits $509,572  $515,165  $511,521  $512,049  $534,850
Total deposits            $576,373  $583,576  $576,502  $576,534  $600,339
Total stockholders'
 equity                   $ 76,855  $ 75,859  $ 74,416  $ 73,977  $ 72,723

(1) Eliminates the effect of goodwill and core deposit intangible
 assets and related amortization expense on a tax effected basis.
 The amount was calculated using the following information.

Average Stockholders'
 Equity                   $ 76,855  $ 75,859  $ 74,416  $ 73,977  $ 72,723
Less average goodwill and
 other intangible assets,
 net of related income
 taxes                       3,673     3,689     3,705     3,687     3,694
Average Tangible Equity   $ 73,182  $ 72,170  $ 70,711  $ 70,290  $ 69,029
                          ========  ========  ========  ========  ========

Net Income                   1,847     1,821     1,700     1,733     1,983
Plus Amortization of core
 deposit intangibles, net
 of related income taxes         5         5         5         7         7
                          --------  --------  --------  --------  --------
Net Income, as adjusted   $  1,852  $  1,826  $  1,705  $  1,740  $  1,990
                          ========  ========  ========  ========  ========






                          TECHE HOLDING COMPANY
              (Amounts in thousands, except per share data)
                               Franklin, LA
                           Statements of Income
                                (UNAUDITED)

                                          TWELVE MONTHS ENDED
                            ----------------------------------------------
                               Sep.        Sep.
                               2010        2009       $Change     %Change
                            ----------  ----------  ----------  ----------
Interest Income             $   41,336  $   44,237  ($   2,901)       -6.6%
Interest Expense                11,704      15,297      (3,593)      -23.5%
                            ----------  ----------  ----------  ----------
Net Interest Income             29,632      28,940         692         2.4%
Provision for Loan Losses        3,896       3,026         870        28.8%
                            ----------  ----------  ----------  ----------
Net Interest Income after
 Provision for Loan Losses      25,736      25,914        (178)       -0.7%
Non Interest Income             16,087      16,328        (241)       -1.5%
Non Interest Expense            31,229      31,372        (143)       -0.5%
                            ----------  ----------  ----------  ----------
Income Before Gain on
 Securities and Sale of
 Loans                          10,594      10,870        (276)       -2.5%
Gain(Loss) on Securities          (140)     (1,035)        895       -86.5%
Gain(Loss) on Sale of Loans         13         559        (546)      -97.7%
Income Taxes                     3,366       3,258         108         3.3%
                            ----------  ----------  ----------  ----------
Net Income                  $    7,101  $    7,136  ($      35)       -0.5%
                            ==========  ==========  ==========  ==========
Selected Financial Data
                            ----------  ----------  ----------  ----------
Dividends Declared Per
 Share                      $     1.42  $     1.41  $     0.01         0.7%
Basic Earnings Per Common
 Share                      $     3.40  $     3.38  $     0.02         0.6%
Diluted Earnings Per Common
 Share                      $     3.37  $     3.35  $     0.02         0.6%
Annualized Return on Avg.
 Assets                           0.93%       0.91%       0.02%        2.2%
Annualized Return on Avg.
 Equity                           9.43%       9.98%      -0.55%       -5.5%
Annualized Return on Avg.
  Tangible Equity (1)             9.94%      10.49%      -0.55%       -5.2%

Yield on Interest Earning
 Assets                           5.93%       6.12%      -0.19%       -3.1%
Cost of Interest Bearing
 Liabilities                      1.91%       2.40%      -0.49%      -20.4%
Spread                            4.02%       3.73%       0.29%        7.8%
Net Interest Margin               4.25%       4.01%       0.24%        6.0%
Non-Interest Income/Avg.
 Assets                           2.11%       2.08%       0.03%        1.4%
Non-Interest Expense/Avg.
 Assets                           4.10%       4.02%       0.08%        2.0%
FYTD Net Charge-offs/Avg.
 Loans                            0.24%       0.29%      -0.05%      -17.2%
Weighted avg. shares
 Outstanding
    Basic                        2,089       2,110         (21)       -1.0%
    Diluted                      2,107       2,127         (20)       -0.9%
AVERAGE BALANCE SHEET DATA
                            ----------  ----------  ----------  ----------
Total Assets                $  762,355  $  781,187  ($  18,832)       -2.4%
Earning assets              $  697,315  $  722,409  ($  25,094)       -3.5%
Loans                       $  599,134  $  606,751  ($   7,617)       -1.3%
Interest-bearing deposits   $  512,040  $  533,022  (   20,982)       -3.9%
Total deposits              $  578,310  $  597,559  ($  19,249)       -3.2%
Total stockholders' equity  $   75,279  $   71,479  $    3,800         5.3%

(1) Eliminates the effect of goodwill and the core deposit intangible
 assets and the related amortization expense on a tax effected basis.
 The amount was calculated using the following information.

Average Stockholders'
 Equity                     $   75,279  $   71,479  $    3,800         5.3%
Less average goodwill and
 other intangible assets,
 net of related income 
 taxes                           3,673       3,715         (42)       -1.1%
                            ----------  ----------  ----------  ----------
Average Tangible Equity     $   71,606  $   67,764  $    3,842         5.7%
                            ==========  ==========  ==========  ==========

Net Income                  $    7,101  $    7,136  ($      35)       -0.5%
Plus Amortization of core
 deposit intangibles, net
 of related income taxes            19          28          (9)      -32.1%
                            ----------  ----------  ----------  ----------
Net Income, as adjusted     $    7,120  $    7,164  $      (44)        0.6%
                            ==========  ==========  ==========  ==========






                          TECHE HOLDING COMPANY
              (Dollars in thousands, except per share data)
                               Franklin, LA
                              Balance Sheet
                                (UNAUDITED)

                        Sep.       Jun.       Mar.       Dec.      Sep.
                        2010       2010       2010       2009      2009
                     ---------  ---------  ---------  ---------  ---------
SmartGrowth Loans
  Consumer           $ 111,571  $ 110,855  $ 110,438  $ 109,899  $ 108,013
  Commercial           212,933    212,762    212,485    213,505    210,201
  Home Equity           53,405     55,860     57,443     57,373     58,348
  SmartMortgage
   Loans                86,959     86,624     86,677     86,462     83,775
                     ---------  ---------  ---------  ---------  ---------
Total SmartGrowth
 Loans                 464,868    466,101    467,043    467,239    460,337
  Mortgage Loans
   (owner occupied
   conforming)         131,023    131,590    133,478    135,048    134,996
                     ---------  ---------  ---------  ---------  ---------
                       595,891    597,691    600,521    602,287    595,333
Allowance for Loan
 Losses                 -9,256     -8,830     -8,253     -7,744     -6,806
                     ---------  ---------  ---------  ---------  ---------
Loans Receivable,
 Net                   586,635    588,861    592,268    594,543    588,527

Cash and Securities    115,217    121,783    116,367    108,282    125,058
Goodwill and Other
 Intangibles             3,687      3,692      3,700      3,707      3,715
Foreclosed Real
 Estate                  1,181      1,547      1,426      1,128      1,953
Other                   54,804     49,601     49,874     49,604     45,818
                     ---------  ---------  ---------  ---------  ---------
TOTAL ASSETS         $ 761,524  $ 765,484  $ 763,635  $ 757,264  $ 765,071
                     =========  =========  =========  =========  =========

  Total Checking     $ 173,206  $ 169,396  $ 177,174  $ 170,552  $ 165,796
  Money Market          60,246     62,643     68,763     80,034     95,461
  Savings              166,734    160,567    149,233    128,254    106,479
                     ---------  ---------  ---------  ---------  ---------
Total Smart Growth
 Deposits              400,186    392,606    395,170    378,840    367,736
Time Deposits          179,169    185,496    191,573    196,651    217,733
                     ---------  ---------  ---------  ---------  ---------
Total Deposits         579,355    578,102    586,743    575,491    585,469

FHLB Advances          100,017    106,445     97,857    103,451    100,628
Other Liabilities        6,639      6,388      5,484      6,000      7,490
Stockholders' Equity    75,513     74,549     73,551     72,322     71,484
                     ---------  ---------  ---------  ---------  ---------
TOTAL LIABILITIES
 AND STOCKHOLDERS'
 EQUITY              $ 761,524  $ 765,484  $ 763,635  $ 757,264  $ 765,071
                     =========  =========  =========  =========  =========

Ratio of Equity to
 Assets                   9.92%      9.74%      9.63%      9.55%      9.34%
Tangible Equity
 Ratio                    9.48%      9.30%      9.20%      9.07%      8.90%
Risk-Based Capital
 Ratio                   13.52%     13.30%     12.91%     12.70%     12.72%
Book Value per
 Common Share        $   36.19  $   35.45  $   35.02  $   34.49  $   34.09
Tangible Book Value
 Per Common Share    $   34.43  $   33.70  $   33.27  $   32.74  $   32.33
Non-performing
 Assets/Total Assets      2.06%      2.15%      2.27%      1.58%      1.19%
ALLL/Loans                1.55%      1.48%      1.37%      1.29%      1.14%
ALLL/NPLs                63.92%     59.29%     52.18%     72.12%     95.44%
Shares Outstanding
 (in thousands)          2,082      2,091      2,101      2,098      2,097

The amount was
 calculated using
 the following
 information:

Stockholders' Equity $  75,513  $  74,549  $  73,551  $  72,322  $  71,484
Less goodwill and
 other Intangible
 assets, net of
 related income
 taxes                  -3,673     -3,677     -3,683     -3,687     -3,692
                     ---------  ---------  ---------  ---------  ---------
Tangible
 Stockholders Equity $  71,840  $  70,872  $  69,868  $  68,635  $  67,792
                     =========  =========  =========  =========  =========

Total Assets         $ 761,524  $ 765,484  $ 763,635  $ 757,264  $ 765,071
Less goodwill and
 other Intangible
 assets' net of
 related income
 taxes                  -3,673     -3,677     -3,683     -3,687     -3,692
                     ---------  ---------  ---------  ---------  ---------
Total Tangible
 Assets              $ 757,851  $ 761,807  $ 759,952  $ 753,577  $ 761,379
                     =========  =========  =========  =========  =========






Quarter-End Loan
 Data                  Total     Charge-    Charge-   90 Days +  90 Days +
                                                         Non        Non
September 30, 2010     Loans      Offs       Offs      Accrual    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         303,796         --       0.00%      4,765      1.57%
        Secured by
         Junior
         Liens          11,048         (4)     -0.04%         88      0.80%
    Multifamily (5+
     Dwelling Units)    24,357         --       0.00%        886      3.64%
    Nonresidential
     Property
     (Except Land)      85,718        257       0.30%          -      0.00%
    Land                39,555         23       0.06%      5,440     13.75%
                     ---------  ---------  ---------  ---------- ---------
        Consumer        20,044         --       0.00%         58      0.29%
                     ---------  ---------  ---------  ---------- ---------
        Commercial      19,511         23       0.12%      5,382     27.58%
                     ---------  ---------  ---------  ---------- ---------
Subtotal - Real
 Estate Loans        $ 504,314        429       0.09% $   12,245      2.43%
                     ---------  ---------  ---------  ---------- ---------

Non-Real Estate
 Loans:
    Commercial Loans    30,929         --       0.00%         27      0.09%
    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             13,375         21       0.16%         90      0.67%
                     ---------  ---------  ---------  ----------
Subtotal - Non Real
 Estate Loans           91,786         45       0.05%        606      0.66%
                     ---------  ---------  ---------  ---------- ---------

Gross Loans          $ 596,100        474       0.08% $   12,851      2.16%
                     =========  =========             ==========

Non-accruals            12,390
90 + Days Past Due         461
OREO & Foreclosed        1,201
                     ---------
    Nonperforming
     Assets (Net)    $  14,052
                     =========

NPAs/Assets               1.88%
NPAs/(Loans + OREO)       2.40%
ALL/Loans                 1.55%
Net Charge-offs/
 Loans                    0.08%






Quarter-End Loan
 Data                  Total     Charge-    Charge-   90 Days +  90 Days +
                                                         Non        Non
June 30, 2010          Loans      Offs       Offs      Accrual    Accrual
                      Dollars    Dollars  Percentage   Dollars   Percentage
                     ---------  ---------  ---------  ---------- ---------
Real Estate Loans
  Construction       $  22,345         --       0.00% $      876      3.92%
  Permanent, Secured
   by:
    1-4 Dwelling Units:
      Revolving,
       Open-End
       Loans
       (HELOC)          18,582         --       0.00%         50      0.27%
      All Other
        Secured by
         First
         Liens         302,521         16       0.01%      4,357      1.44%
        Secured by
         Junior
         Liens          10,936         68       0.62%         88      0.80%
    Multifamily (5+
     Dwelling Units)    26,499         --       0.00%        888      3.35%
    Nonresidential
     Property
     (Except Land)      86,656         97       0.11%        675      0.78%
    Land                38,776         55       0.14%      5,441     14.03%
                     ---------  ---------  ---------  ---------- ---------
        Consumer        19,566         33       0.17%        170      0.87%
                     ---------  ---------  ---------  ---------- ---------
        Commercial      19,210         22       0.11%      5,271     27.44%
                     ---------  ---------  ---------  ---------- ---------
Subtotal - Real
 Estate Loans        $ 506,315        236       0.05% $   12,375      2.44%
                     ---------  ---------  ---------  ---------- ---------

Non-Real Estate
 Loans:
    Commercial Loans    30,935         --       0.00%          7      0.02%
    Consumer Loans:
      Loans on
       Deposits          4,770          5       0.10%          4      0.08%
      Auto Loans         2,832         --       0.00%          7      0.25%
      Mobile Home
       Loans            40,378         76       0.19%        257      0.64%
      Other             12,577          6       0.05%         27      0.21%
                     ---------  ---------  ---------  ---------- ---------
Subtotal - Non Real
 Estate Loans           91,492         87       0.10%        302      0.33%
                     ---------  ---------  ---------  ---------- ---------

Gross Loans          $ 597,807        323       0.05% $   12,677      2.12%
                     =========  =========             ==========

Non-accruals            11,693
90 + Days Past Due         984
OREO & Foreclosed        1,576
                     ---------
    Nonperforming
     Assets (Net)    $  14,253
                     =========

NPAs/Assets               1.87%
NPAs/(Loans + OREO)       2.38%
ALL/Loans                 1.48%
Net
 Charge-offs/Loans        0.05%






Quarter-End Loan
 Data                  Total     Charge-    Charge-   90 Days +  90 Days +
March 31, 2010         Loans      Offs       Offs   Non Accrual Non Accrual
                      Dollars    Dollars  Percentage    Dollars  Percentage
                     ---------  ---------  --------   ---------- ---------
Real Estate Loans
  Construction       $  22,512  $      --      0.00 % $    1,568      6.97%
  Permanent, Secured
   by:
    1-4 Dwelling Units:
      Revolving,
       Open-End
       Loans
       (HELOC)          18,748         13      0.07 %         94      0.50%
      All Other
        Secured by
         First
         Liens         304,778         60      0.02 %      4,852      1.59%
        Secured by
         Junior
         Liens          12,535         --      0.00 %        148      1.18%
    Multifamily (5+
     Dwelling Units)    24,821         --      0.00 %         --      0.00%
    Nonresidential
     Property
     (Except Land)      87,283        256      0.29 %      1,113      1.28%

    Land                39,353          2      0.01 %      5,585     14.19%
                     ---------  ---------  --------   ---------- ---------
       Consumer         19,566          2      0.01 %        109      0.56%
                     ---------  ---------  --------   ---------- ---------
       Commercial       19,787         --      0.00 %      5,476     27.67%
                     ---------  ---------  --------   ---------- ---------
Subtotal - Real
 Estate Loans        $ 510,030  $     331      0.06 % $   13,360      2.62%
                     ---------  ---------  --------   ---------- ---------

Non-Real Estate
 Loans:
    Commercial Loans    29,251         --      0.00 %          7      0.02%
    Consumer Loans:
       Loans on
        Deposits         7,450         51      0.68 %         23      0.31%
       Auto Loans        2,964         --      0.00 %         12      0.40%
       Mobile Home
        Loans           40,265         (2)    (0.00)%        321      0.80%
       Other            10,561         11      0.10 %         27      0.26%
                     ---------  ---------  --------   ----------
Subtotal - Non Real
 Estate Loans        $  90,491  $      60      0.07 % $      390      0.43%
                     ---------  ---------  --------   ---------- ---------

Gross Loans          $ 600,521  $     391      0.07 % $   13,750      2.29%
                     =========  =========             ==========

Non-accruals         $  12,295
90 + Days Past Due       1,455
OREO & Foreclosed        1,464
                     ---------
  Nonperforming
   Assets (Net)      $  15,214
                     =========

NPAs/Assets               2.00%
NPAs/(Loans + OREO)       2.53%
ALL/Loans                 1.37%
Net Charge-offs/
 Loans                    0.07%






Quarter-End Loan
 Data                  Total     Charge-    Charge-   90 Days +  90 Days +
December 31, 2009      Loans      Offs       Offs   Non Accrual Non Accrual
                      Dollars    Dollars  Percentage   Dollars   Percentage
                     ---------  ---------  ---------  ---------- ---------
Real Estate Loans
  Construction       $  15,716  $       3       0.02% $       54      0.34%
  Permanent, Secured
   by:
    1-4 Dwelling Units:
      Revolving,
       Open-End
       Loans (HELOC)    18,120         31       0.17%        119      0.66%
      All Other
        Secured by
         First
         Liens         305,083          7       0.00%      5,626      1.84%
        Secured by
         Junior
         Liens          13,237         38       0.29%        135      1.02%
    Multifamily (5+
     Dwelling Units)    26,337         (1)      0.00%      1,707      6.48%
    Nonresidential
     Property (Except
     Land)              91,947          0       0.00%      1,565      1.70%
    Land                40,712          0       0.00%        965      2.37%
                     ---------  ---------  ---------  ---------- ---------
        Consumer        19,542         --       0.00%        158      0.81%
                     ---------  ---------  ---------  ---------- ---------
        Commercial      21,170         --       0.00%        807      3.81%
                     ---------  ---------  ---------  ---------- ---------
Subtotal - Real
 Estate Loans        $ 511,152  $      78       0.02% $   10,171      1.99%
                     ---------  ---------  ---------  ---------- ---------

Non-Real Estate
 Loans:
  Commercial Loans      29,984         82       0.27%          7      0.02%
  Consumer Loans:
    Loans on Deposits    7,558          6       0.08%        149      1.97%
    Auto Loans           3,123          5       0.16%         30      0.96%
    Mobile Home
     Loans              40,862         85       0.21%        357      0.87%
    Other                9,608          2       0.01%         24      0.25%
                     ---------  ---------  ---------  ----------
Subtotal - Non Real
 Estate Loans        $  91,135  $     180       0.20% $      567      0.62%
                     ---------  ---------  ---------  ---------- ---------

Gross Loans          $ 602,287  $     258       0.04% $   10,738      1.78%
                     =========  =========  =========  ========== =========

Non-accruals         $   9,589
90 + Days Past Due       1,148
OREO & Foreclosed        1,208
                     ---------
   Nonperforming
    Assets (Net)     $  11,945
                     =========

NPAs/Assets               1.58%
NPAs/(Loans + OREO)       1.98%
ALL/Loans                 1.29%
Net
 Charge-offs/Loans        0.04%







Quarter-End Loan
 Data                  Total     Charge-    Charge-   90 Days +  90 Days +
September 30, 2009     Loans      Offs       Offs   Non Accrual Non Accrual
                      Dollars    Dollars  Percentage   Dollars   Percentage
                     ---------  ---------  --------   ---------- ---------
Real Estate Loans
  Construction       $  21,707  $       0       0.0 % $    1,066      4.91%
  Permanent, Secured
   by:
    1-4 Dwelling
     Units:
      Revolving,
       Open-End
       Loans
       (HELOC)          17,529          0       0.0 %         50      0.29%
      All Other
        Secured by
         First
         Liens         302,072          4       0.0 %      4,408      1.46%
        Secured by
         Junior
         Liens          13,882          5      0.04 %         88      0.63%
    Multifamily (5+
     Dwelling Units)    23,921      1,139      4.76 %        324      1.35%
    Nonresidential
     Property
     (Except Land)      91,428         63      0.07 %        371      0.41%
    Land                34,644          0       0.0 %        388      1.12%
                     ---------  ---------  --------   ---------- ---------
          Consumer      19,734         --      0.00 %         85      0.43%
                     ---------  ---------  --------   ---------- ---------
          Commercial    14,910         --      0.00 %        303      2.03%
                     ---------  ---------  --------   ---------- ---------
Subtotal - Real
 Estate Loans        $ 505,183  $   1,211      0.24 % $    6,695      1.33%
                     ---------  ---------  --------   ---------- ---------

Non-Real Estate
 Loans:
  Commercial Loans      30,395         96      0.32 %         98      0.32%
  Consumer Loans:
    Loans on
     Deposits            7,779          1      0.01 %         50      0.64%
    Auto Loans           3,044         (5)    (0.16)%         19      0.62%
    Mobile Home
     Loans              40,327          6      0.01 %        266      0.66%
    Other                8,605          7      0.08 %          2      0.02%
                     ---------  ---------  --------   ---------- ---------
Subtotal - Non Real
 Estate Loans        $  90,150  $     105      0.12 % $      435      0.48%
                     ---------  ---------  --------   ---------- ---------

Gross Loans          $ 595,333  $   1,316      0.22 % $    7,130      1.20%
                     =========  =========  ========   ========== =========

Non-accruals         $   6,048
90 + Days Past Due       1,082
OREO & Foreclosed        1,962
                     ---------
     Nonperforming
      Assets (Net)   $   9,092
                     =========


NPAs/Assets               1.19%
NPAs/(Loans + OREO)       1.52%
ALL/Loans                 1.14%
Net
 Charge-offs/Loans        0.22%






Average Loan
 Balances &
 Yields      09/30/2010 09/30/2010  06/30/2010 06/30/2010  Change   Change
              Balance     Yield      Balance     Yield     Balance   Yield
             ---------- ----------  ---------- ----------  --------  -----
Real Estate
 Loans
  1-4 Family $  347,706       5.88% $  349,849       5.97%   (2,143) -0.09%
  Commercial    137,636       5.80%    139,442       5.74%   (1,806)  0.06%
             ----------             ----------             --------
                485,342       5.86%    489,291       5.90%   (3,949) -0.04%

Non-Real
 Estate
 Loans
  Commercial     30,980       6.27%     29,964       6.35%    1,016  -0.08%
  Consumer       80,702       9.41%     80,629       9.35%       73   0.06%
             ----------             ----------             --------
                111,682       8.54%    110,593       8.54%    1,089   0.00%

Total All
 Loans       $  597,024       6.36% $  599,884       6.39%   (2,860) -0.03%
             ==========             ==========             ========


Average Loan
 Balances &
 Yields      09/30/2010 09/30/2010  09/30/2009 09/30/2009   Change  Change
                Balance      Yield     Balance      Yield   Balance  Yield
             ---------- ----------  ---------- ----------  --------  -----

Real Estate
 Loans
  1-4
   Family       349,621       5.98%    370,125       6.24%  (20,504) -0.26%
  Commercial    138,950       5.82%    130,063       6.18%    8,887  -0.36%
             ----------             ----------             --------
                488,571       5.94%    500,188       6.22%  (11,617) -0.28%

Non-Real
 Estate
 Loans
  Commercial     29,996       6.37%     29,464       6.44%      532  -0.07%
  Consumer       80,567       9.30%     77,099       9.28%    3,468   0.02%
             ----------             ----------             --------
                110,563       8.50%    106,563       8.50%    4,000   0.00%

Total All
 Loans       $  599,134       6.41% $  606,751       6.62%   (7,617) -0.21%
             ==========             ==========             ========






Interest-bearing Liabilities:  Linked Quarter Comparison

Average
 balances 09/30/2010 09/30/2010 06/30/2010 06/30/2010        Change
                       Avg.                 Avg.      Change  Avg. %Balance
           $Balance    Yield    $Balance    Yield   $Balance  Yield  Change
           --------- ---------  --------- ---------  -------  -----  -----
 NOW
  Accounts $ 103,467      0.26% $ 106,087      0.46%  (2,620) -0.20%  -2.5%
 Non-
  interest
  bearing
  Deposits    66,808      0.00%    68,411      0.00%  (1,603)  0.00%  -2.3%
           --------- ---------  --------- ---------  -------  -----  -----
   Checking
    Total  $ 170,275      0.16% $ 174,498      0.28%  (4,223) -0.12%  -2.4%

 Savings
  Accounts $ 163,157      0.69% $ 154,065      1.00%   9,092  -0.31%   5.9%
 Money
  Market
  Accounts    61,305      0.40%    65,678      0.39%  (4,373)  0.01%  -6.7%
           --------- ---------  --------- ---------  -------  -----  -----

 Total
  Smart
  Growth
  Deposits $ 394,737      0.41% $ 394,241      0.58%     496  -0.17%   0.1%

 Time
  Deposits   181,517      2.60%   189,335      2.65%  (7,818) -0.05%  -4.1%

 Total
  Deposits $ 576,254      1.10% $ 583,576      1.25%  (7,322) -0.15%  -1.3%

 FHLB
  Advances   100,831      4.52%   101,543      4.52%    (712)  0.00%  -0.7%
                                                     -------

Total
 Interest-
 bearing
 liabil-
 ities     $ 610,277      1.79% $ 616,708      1.92%  (6,431) -0.13%  -1.0%
           =========            =========            =======

Non-
 interest
 bearing
 Deposits  $  66,808      0.00% $  68,411      0.00%  (1,603)  0.00%  -2.3%


Interest-bearing Liabilities: Prior Year Comparison

Average
 balances 09/30/2010 09/30/2010 09/30/2009 09/30/2009        Change
                       Avg.                 Avg.      Change  Avg. %Balance
           $Balance    Yield    $Balance    Yield   $Balance  Yield  Change
           --------- ---------  --------- ---------  -------  -----  -----
 NOW
  Accounts   104,176      0.41%   101,311      0.53%   2,865  -0.12%   2.8%
 Non-
  interest
  bearing
  Deposits    66,177      0.00%    64,537      0.00%   1,640   0.00%   2.5%
           --------- ---------  --------- ---------  -------  -----  -----
   Checking
    Total    170,353      0.25%   165,848      0.32%   4,505  -0.07%   2.7%

 Savings
  Accounts   143,408      0.91%    76,214      0.87%  67,194   0.04%  88.2%
 Money
  Market
  Accounts    71,958      0.39%   115,227      1.24% (43,269) -0.85% -37.6%
           --------- ---------  --------- ---------  -------  -----  -----

 Total
  Smart
  Growth
  Deposits   385,719      0.52%   357,289      0.74%  28,430  -0.22%   8.0%

 Time
  Deposits   192,591      2.67%   240,270      3.28% (47,679) -0.61% -19.8%

Total
 Deposits    578,310      1.24%   597,559      1.76% (19,249) -0.52%  -3.2%

 FHLB
  Advances   102,254      4.44%   105,060      4.54%  (2,806) -0.10%  -2.7%

Total
 Interest-
 bearing
 liabil-
 ities     $ 614,387      1.90% $ 638,082      2.40% (23,695) -0.50%  -3.7%
           =========            =========            =======

Non-
 interest
 bearing
 Deposits  $  66,177      0.00% $  64,537      0.00%   1,640   0.00%   2.5%


Contact Information

  • Contact:
    Patrick Little
    President & CEO
    Teche Holding Company
    (337) 560-7151