SOURCE: Teche Holding Company

Teche Holding Company

January 23, 2013 08:00 ET

Teche Posts $1.49 EPS for First Quarter 2013

NEW IBERIA, LA--(Marketwire - Jan 23, 2013) - (NYSE MKT: 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 December 31, 2012, the first quarter of fiscal year 2013.

Earnings for the quarter ended December 31, 2012 amounted to $3.1 million, or $1.49 per diluted share, compared to $1.8 million, or $0.85 per diluted share, for the same quarter in fiscal 2012, an increase of $0.64 per diluted share, or 75.3%.

This quarter included two non-recurring items: the sale of $46.3 million in mortgage loans, generating a one-time pre-tax gain of $2.0 million, and an accelerated first quarter dividend in the amount of $0.365 per common share. Excluding the gain on sale of mortgage loans, diluted earnings per share for the first quarter would have been $0.86 per common share.

"We had solid earnings this quarter on top of record EPS for the past four fiscal years," said Little. "Our loan sale this quarter helps to re-position our balance sheet, and the accelerated dividend provided some tax relief for our shareholders. Also, commercial and consumer loan growth was positive this quarter, and the loan pipeline remains strong."

The Company reported the following points of interest:

  • The Company posted a $1.3 million after-tax gain on the $46.3 million sale of mortgage loans.
  • The Company declared dividends totaling $0.73 per share, including a regular dividend of $0.365 and an accelerated first quarter dividend of $0.365.
  • SmartGrowth Deposits increased 3.3% over the linked quarter and 11.5% compared to a year ago. SmartGrowth Deposits amounted to 77.7% of total deposits at December 31, 2012, compared to 76.8% at September 30, 2012 and 73.3% a year ago.
  • Checking Account Balances increased 4.8% compared to the linked quarter-end and 16.0% compared to December 31, 2011.
  • The average rate paid on all deposits was 0.53% for the quarter compared to 0.58% for the linked quarter and 0.88% a year ago.
  • Quarterly operating revenue increased to $13.5 million for the current quarter, as compared to $12.1 million in the linked quarter and $11.5 million a year ago, mainly due to the $2.0 million gain on the sale of loans.
  • Tangible book value per share increased to $39.86, an increase of 1.5%, or $0.57, compared to September 30, 2012 and 6.4%, or $2.39, year-over-year.
  • Net charge offs for the quarter amounted to 0.07% of average loans.

Capital
Over the past twelve months, stockholders' equity increased 4.5% to a record $84.8 million at December 31, 2012, while assets increased 3.2% to $839.7 million. The tangible equity ratio at December 31, 2012 increased to 9.70%, compared to 9.56% a year ago. Tangible book value per common share increased to a record $39.86, an increase of 6.4% compared to a year ago. Risk based capital increased to 14.34% compared to 14.09% a year ago, and the equity to asset ratio increased to 10.09% from 9.97% a year ago.

During the quarter ended December 31, 2012, the Company repurchased 15,034 shares of the Company's common stock at an average price of $37.66 per share.

                               
QUARTERLY COMPARISON   Dec '12     Sep '12     Jun '12     Mar '12     Dec '11  
Stockholders' Equity (in millions)   $ 84.8     $ 83.5     $ 81.7     $ 82.2     $ 81.1  
Ratio of Equity to Assets     10.09 %     9.81 %     9.68 %     9.90 %     9.97 %
Basic Earnings Per Share   $ 1.51     $ 1.02     $ 0.84     $ 0.83     $ 0.86  
Adjusted Earnings Per Share*   $ 0.86     $ 1.02     $ 0.84     $ 0.83     $ 0.86  
Tangible Equity Ratio     9.70 %     9.42 %     9.29 %     9.50 %     9.56 %
Total Risk-Based Capital Ratio     14.34 %     14.09 %     13.79 %     14.12 %     14.09 %
Book Value Per Common Share   $ 41.65     $ 41.09     $ 40.32     $ 39.68     $ 39.24  
Tangible Book Value Per Common Share   $ 39.86     $ 39.29     $ 38.51     $ 37.91     $ 37.47  
Total Assets (in millions)   $ 839.7     $ 852.0     $ 843.8     $ 829.7     $ 813.5  
  *Excluding Gain on Loan Sale                                        
                                         

Non-Recurring items
The sale of $46.3 million in mortgage loans, the related $1.3 million after tax gain and the acceleration of the first quarter dividend of $0.365 per share were non-recurring items. While the loan sale consisted primarily of long-term, fixed rate mortgage loans, approximately $10 million of the loans were SmartGrowth mortgage loans.

"We hope to have the loans replaced within a couple of quarters," said Little. "We expect to replace them with a healthy mix of commercial, consumer and mortgage loans."

Asset Quality
The following tables set forth asset quality ratios and allowance for loan loss activity for each of the past five quarters:

                               
Net Charge offs, ALLL, NPAs
QUARTERLY COMPARISON
  Dec '12     Sep '12     Jun '12     Mar '12     Dec '11  
Net Charge-offs/Average Loans   0.07 %   0.05 %   0.08 %   0.08 %   0.05 %
ALLL*/NPLs   87.76 %   82.52 %   79.63 %   74.02 %   71.25 %
ALLL*/NPAs   81.52 %   78.54 %   74.54 %   71.40 %   65.30 %
ALLL*/Loans   1.28 %   1.27 %   1.27 %   1.32 %   1.33 %
NPAs/Assets   1.20 %   1.28 %   1.34 %   1.43 %   1.53 %
                               

*ALLL figures include specific reserves 

The following table sets forth the allowance for loan loss activity for each of the past five quarters.

                     
Allowance for Loan Loss Provision & Charge-offs
QUARTERLY COMPARISON (in 000's)
  Dec '12   Sep '12   Jun '12   Mar '12   Dec '11
Beginning ALLL   $ 8,559   $ 8,411   $ 8,450   $ 8,392   $ 8,331
Provision for Loan Losses     150     500     510     550     350
Net Charge-offs     475     352     549     492     289
Ending ALLL   $ 8,234   $ 8,559   $ 8,411   $ 8,450   $ 8,392
Ending ALLL (net of specific reserves)   $ 8,234   $ 8,559   $ 8,411   $ 8,246   $ 8,142
                               

The allowance for loan losses was 1.28% of total loans, or $8.2 million, at December 31, 2012 compared to 1.27% of total loans, or $8.6 million, at September 30, 2012 and 1.33% of total loans, or $8.4 million, at December 31, 2011.

Net charge-offs for the quarter were $0.5 million, or 0.07% of average loans, compared to $0.3 million, or 0.05% of average loans, for the same period a year ago. For the twelve months ended December 31, 2012, net charge offs were $1.9 million, or 0.29% of average loans, compared to $4.7 million, or 0.78% of loans, for the twelve months ended December 31, 2011. 

Non-performing assets decreased slightly to $10.3 million, or 1.20% of total assets, at December 31, 2012 compared to $10.9 million, or 1.28% of total assets, at September 30, 2012 and $12.4 million, or 1.53% of total assets, a year ago. This is primarily due to a decrease in non-accrual loans. 

                     
Net Interest Income
QUARTERLY COMPARISON (In 000's)
  Dec '12   Sep '12   Jun '12   Mar '12   Dec '11
Interest Income   $ 9,571   $ 9,836   $ 9,725   $ 9,807   $ 9,766
Interest Expense     1,832     1,895     1.993     2,111     2,080
                               
Net Interest Income   $ 7,739   $ 7,941   $ 7,732   $ 7,696   $ 7,686
                               

Net interest income decreased $0.2 million compared to the linked quarter, primarily due to the sale of loans being offset somewhat by decreases in deposit rates.

                               
Net Interest Margin and Spread
QUARTERLY COMPARISON
  Dec '12     Sep '12     Jun '12     Mar '12     Dec '11  
Yield on Earning Assets   4.92 %   5.07 %   5.10 %   5.20 %   5.30 %
Cost of Interest Bearing Liabilities   1.11 %   1.14 %   1.23 %   1.31 %   1.31 %
Spread   3.80 %   3.93 %   3.87 %   3.90 %   3.99 %
Net Interest Margin   3.98 %   4.10 %   4.06 %   4.08 %   4.17 %
                               

Net interest margin amounted to 3.98% for the three-month period ended December 31, 2012, compared to 4.17% for the three-months ended December 31, 2011. The decrease was primarily due to lower yields on both loans and investments, offset somewhat by lower deposit rates.

Spread amounted to 3.80% for the three month period ended December 31, 2012, compared to 3.99% for the same period in the previous year. Compared to the same quarter last year, the average yield on earning assets decreased 38 basis points from 5.30% to 4.92%, while the average cost of funds decreased 20 basis points from 1.31% to 1.11%.

Operating Revenue
Operating revenue for the quarter ended December 31, 2012, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $13.5 million compared to $11.5 million for the same quarter in 2011. Excluding the impact of the loan sale during the quarter, operating revenue of $11.5 million remained constant as compared to the same quarter in 2011.

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

                     
Operating Revenue
QUARTERLY COMPARISON (in millions)
  Dec '12   Sep '12   Jun '12   Mar '12   Dec '11
Net Interest Income   $ 7.7   $ 7.9   $ 7.7   $ 7.7   $ 7.7
Non Interest Income     5.8     4.2     3.7     3.9     3.8
Operating Revenue   $ 13.5   $ 12.1   $ 11.4   $ 11.6   $ 11.5
                               

Non-Interest Income
Non-interest income increased to $5.8 million for the quarter, as compared to $4.2 million in the linked quarter and $3.8 million for the same quarter a year ago. This is mainly due to the $2.0 million gain from the sale of loans. Non-interest income amounted to 2.73% of average assets for the quarter compared to 1.99% for the linked quarter and 1.88% a year ago. Excluding the sale of loans, non-interest income was $3.8 million, or 1.80% of average assets.

                   
Non-Interest Income & Expense                  
QUARTERLY COMPARISON (in thousands)   Dec '12     Sep '12     Jan '12     Mar '12     Dec '11  
Interchange fee Income   $ 826     $ 847     $ 917     $ 843     $ 778  
Other Non-Interest Income     4,986       3,361       2,734       3,038       2,990  
Total Non-Interest Income   $ 5,816     $ 4,208     $ 3,651     $ 3,881     $ 3,768  
Total Non-Interest Income/Avg. Assets     2.73 %     1.99 %     1.76 %     1.89 %     1.88 %
Non-Interest Expense   $ 8,752     $ 8,534     $ 8,287     $ 8,445     $ 8,447  
Non-Interest Expense/Avg. Assets     4.11 %     4.03 %     3.99 %     4.11 %     4.21 %
                                 

Non-Interest Expense
For the quarter ended December 31, 2012, non-interest expense was $8.8 million, or 4.11% of average assets, compared to $8.5 million, or 4.03% of average assets, in the linked quarter, which was an increase of 2.6%, primarily due to increases in compensation and marketing expenses. Compared to the same quarter in fiscal 2011, non-interest expense increased by $0.4 million, or 3.6%, from $8.4 million to $8.8 million, which was primarily due to increases in compensation, marketing, and data processing expenses.

Net Income and Dividends
On November 28, 2012, the Board of Directors declared a $0.365 per share quarterly dividend. In addition, the Board declared a special, accelerated first quarter dividend of $0.365 per share. The Company has paid a cash dividend for 70 consecutive quarters. In view of the special dividend, the Company does not anticipate declaring a dividend for the first calendar quarter of 2013. 

                     
QUARTERLY COMPARISON (In 000's)   Dec '12   Sep '12   Jun '12   Mar '12   Dec '11
Dividends Declared Per Share   $ 0.73   $ 0.365   $ 0.365   $ 0.365   $ 0.36
Basic Earnings Per Common Share   $ 1.51   $ 1.02   $ 0.84   $ 0.83   $ 0.86
Diluted Earnings Per Common Share   $ 1.49   $ 1.01   $ 0.83   $ 0.82   $ 0.85
                               

Loans

                     
QUARTERLY COMPARISON (In 000,000's)   Dec '12   Sep '12   Jun '12   Mar '12   Dec '11
SmartGrowth Loans                              
  Consumer   $ 113.4   $ 110.2   $ 109.3   $ 106.6   $ 107.4
  Commercial     220.5     215.2     216.9     208.6     213.6
  Home Equity     42.5     43.2     44.5     46.5     47.3
  SmartMortgages     100.8     111.1     106.5     102.2     98.2
Total SmartGrowth Loans   $ 477.2   $ 479.7   $ 477.2   $ 463.9   $ 466.5
Mortgage Loans (owner occupied conforming)     165.4     194.7     183.3     177.6     166.1
Total Loans   $ 642.6   $ 674.4   $ 660.5   $ 641.5   $ 632.6
                               

Linked Quarter Comparison. Gross loans receivable decreased to $642.6 million at December 31, 2012 from $674.4 million at September 30, 2012, a decrease of $31.8 million or 4.7% compared to the linked quarter, primarily due to the sale of $46.3 million of one-to four-family mortgages. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans, and consumer loans, were $477.2 million, or 74.3% of total loans, at December 31, 2012, compared to $479.7 million, or 71.1%, at September 30, 2012, a three month decrease of $2.5 million, or 0.5%.

Commercial loan balances at December 31, 2012 amounted to $220.5 million compared to $215.2 million at September 30, 2012, a three month increase of $5.3 million, or 2.5%. Consumer loan balances at December 31, 2012 amounted to $113.4 million compared to $110.2 million at September 30, 2012, a linked quarter increase of $3.2 million, or 2.9%. 

One Year Comparison. Gross loans receivable increased to $642.6 million at December 31, 2012 from $632.6 million at December 31, 2011, a twelve month increase of $10.0 million, or 1.6%. SmartGrowth Loans increased to $477.2 million at December 31, 2012 from $466.5 million at December 31, 2011, a twelve month increase of $10.7 million, or 2.3%. 

Commercial loan balances at December 31, 2012 amounted to $220.5 million compared to $213.6 million at December 31, 2011, a twelve month increase of $6.9 million, or 3.2%. Consumer loan balances at December 31, 2012 amounted to $113.4 million, compared to $107.4 million at December 31, 2011, a twelve month increase of $6.0 million, or 5.6%.

"We made over $64.2 million in loans this quarter," said Little, "including $56.6 million in SmartGrowth loans. The Southwest Louisiana region is a great area with a growing economy and low unemployment."

Loan Sale
On November 28, 2012, Patrick Little, on behalf of the Company, announced the sale of a portfolio of single-family owner-occupied, performing, fixed rate mortgage loans with a book value of $46.3 million.

The Company recognized a one-time gain of $2.0 million during the quarter associated with the sale of the loans. The Bank retained servicing of these loans.

The portfolio of sold loans had a weighted average coupon rate of approximately 3.7% and a weighted average remaining term of approximately 170 months. The yield on average loans was 5.45% for the quarter ended December 31, 2012, as compared to a weighted average coupon rate of 3.7% on the loans sold.

"First, the loan sale gain of $2 million demonstrates the value of our mortgage loan portfolio," said Little. "Furthermore, we hope that it will help boost our net interest margin and spread."

Deposits

                     
QUARTERLY COMPARISON (In 000,000's)   Dec '12   Sep '12   Jun '12   Mar '12   Dec '11
SmartGrowth Deposits                              
  Checking   $ 230.8   $ 220.3   $ 218.7   $ 223.3   $ 199.0
  Money Market     55.0     55.2     52.5     54.8     52.0
  Savings     204.2     198.7     198.1     194.9     188.3
Total SmartGrowth Deposits   $ 490.0   $ 474.2   $ 469.3   $ 473.0   $ 439.3
Time Deposits     140.6     143.5     146.2     157.5     160.0
Total Deposits   $ 630.6   $ 617.7   $ 615.5   $ 630.5   $ 599.3
                               

Linked Quarter Comparison. Total deposits increased to $630.6 million at December 31, 2012 from $617.7 million at September 30, 2012, a linked quarter increase of $12.9 million, or 2.1%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts, increased $15.8 million, or 3.3%, to $490.0 million at December 31, 2012, from $474.2 million at September 30, 2012.

Checking account balances at December 31, 2012 increased $10.5 million, or 4.8%, to $230.8 million from $220.3 million at September 30, 2012.

One Year Comparison. Total deposits increased to $630.6 million at December 31, 2012 from $599.3 million at December 31, 2011, a twelve month increase of $31.3 million, or 5.2%. Total SmartGrowth Deposits increased $50.7 million, or 11.5%, from $439.3 million at December 31, 2011 to $490.0 million at December 31, 2012.

SmartGrowth Deposits amounted to 77.7% of total deposits as of December 31, 2012, compared to 73.3% at December 31, 2011.

Checking account balances have increased 16.0%, or $31.8 million, in the past 12 months from $199.0 million at December 31, 2011 to $230.8 million at December 31, 2012. Checking account balances at December 31, 2012 accounted for 36.6% of total deposits, compared to 33.2% at December 31, 2011.

Teche Holding Company is the parent company of Teche Federal Bank, which operates nineteen offices in South Louisiana and serves over 70,000 customers. Teche is the fourth largest publicly traded bank holding company based in Louisiana with over $839 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 MKT.

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  
Statements of Income  
(UNAUDITED)  
    THREE MONTHS ENDED  
    Dec.
2012
    Sep.
2012
    Jun.
2012
    Mar.
2012
    Dec.
2011
 
Condensed Statements of Income                    
Interest Income   $ 9,571     $ 9,836     $ 9,725     $ 9,807     $ 9,766  
Interest Expense     1,832       1,895       1,993        2,111        2,080  
Net Interest Income     7,739       7,941       7,732       7,696       7,686  
Provision for Loan Losses     150       500        510         550         350  
Net Interest Income after                                        
  Provision for Loan Losses     7,589       7,441       7,222       7,146       7,336  
Non Interest Income     5,812       4,208       3,651       3,881       3,768  
Non Interest Expense     8,752        8,534        8,287        8,445        8,447  
Income Before Income Taxes    
4,649
     
3,115
     
2,586
     
2,582
     
2,657
 
Income Taxes     1,577        1,042        854        874        885  
Net Income   $ 3,072     $ 2,073     $ 1,732     $ 1,708     $ 1,772  
                                         
Selected Financial Data                                        
Dividends Declared Per Share   $ 0.73     $ 0.365     $ 0.365     $ 0.365     $ 0.36  
Basic Earnings Per Common Share   $ 1.51     $ 1.02     $ 0.84     $ 0.83     $ 0.86  
Diluted Earnings Per Common Share   $ 1.49     $ 1.01     $ 0.83     $ 0.82     $ 0.85  
Annualized Return on Avg. Assets     1.44 %     0.98 %     0.83 %     0.83 %     0.88 %
Annualized Return on Avg. Equity     14.17 %     9.81 %     8.28 %     8.22 %     8.86 %
Annualized Return on Avg.                                        
  Tangible Equity (1)     14.80 %     10.25 %     8.67 %     8.61 %     9.30 %
Yield on Interest Earning Assets     4.92 %     5.07 %     5.10 %     5.20 %     5.30 %
Cost of Interest Bearing Liabilities     1.11 %     1.14 %     1.23 %     1.31 %     1.31 %
Spread     3.80 %     3.93 %     3.87 %     3.90 %     3.99 %
Net Interest Margin     3.98 %     4.10 %     4.06 %     4.08 %     4.17 %
Non-Interest Income/Avg. Assets     2.73 %     1.99 %     1.76 %     1.89 %     1.88 %
Non-Interest Expense/Avg. Assets     4.11 %     4.03 %     3.99 %     4.11 %     4.21 %
Quarterly Net Charge-offs/Avg. Loans     0.07 %     0.05 %     0.08 %     0.08 %     0.05 %
Weighted avg. shares Outstanding                                        
  Basic     2,039       2,028       2,055       2,067       2,059  
  Diluted     2,064       2,061       2,078       2,088       2,078  
                                         
AVERAGE BALANCE SHEET DATA                                        
Total Assets   $ 851,126     $ 846,114     $ 830,958     $ 821,582     $ 803,024  
Earning assets   $ 778,592     $ 775,399     $ 762,007     $ 753,980     $ 738,111  
Loans   $ 667,191     $ 665,952     $ 648,640     $ 636,356     $ 621,073  
Interest-bearing deposits   $ 527,476     $ 521,708     $ 523,488     $ 522,420     $ 513,104  
Total deposits   $ 623,689     $ 612,785     $ 617,209     $ 608,777     $ 594,376  
Total stockholders' equity   $ 86,713     $ 84,525     $ 83,643     $ 83,095     $ 79,993  
                                         
(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   $ 86,713     $ 84,525     $ 83,643     $ 83,095     $ 79,993  
Less average goodwill and other intangible assets,                                        
net of related income taxes     (3,657 )     (3,659 )     (3,664 )     (3,665 )     (3,667 )
Average Tangible Equity   $ 83,056     $ 80,866     $ 79,979     $ 79,430     $ 76,326  
                                         
Net Income   $ 3,072     $ 2,073     $ 1,732     $ 1,708     $ 1,772  
Plus Amortization of core deposit intangibles, net of related income taxes                                        
     1       1        2        2        2  
Net Income, as adjusted   $ 3,073     $ 2,074     $ 1,734     $ 1,710     $ 1,774  
                                         
                                         
                                         



TECHE HOLDING COMPANY
 
(Dollars in thousands, except per share data)  
New Iberia, LA  
Balance Sheet  
(UNAUDITED)  
   
    Dec. 2012     Sep. 2012     Jun.
 2012
    Mar. 2012     Dec.
 2011
 
SmartGrowth Loans                              
    Consumer   $ 113,365     $ 110,235     $ 109,287     $ 106,596     $ 107,399  
    Commercial     220,463       215,212       216,929       208,579       213,659  
    Home Equity     42,546       43,233       44,513       46,486       47,261  
    SmartMortgage Loans     100,859       111,072       106,532       102,228        98,221  
Total SmartGrowth Loans     477,233       479,752       477,261       463,889       466,540  
  Mortgage Loans (owner occupied conforming)     165,364       194,650       183,274       177,566       166,088  
      642,597       674,402       660,535       641,455       632,628  
Allowance for Loan Losses      (8,234 )     (8,559 )     (8,411 )     (8,450 )      (8,392 )
Loans Receivable, Net     634,363       665,843       652,124       633,005       624,236  
                                         
Cash and Securities     142,406       124,080       129,750       136,841       130,126  
Goodwill and Other Intangibles     3,657       3,659       3,661       3,664       3,667  
Foreclosed Real Estate     697       513       625       397       1,012  
Other      58,575       57,867       57,608        55,799        54,504  
TOTAL ASSETS   $ 839,698     $ 851,962     $ 843,768     $ 829,706     $ 813,545  
                                         
SmartGrowth Deposits                                        
    Checking   $ 230,845     $ 220,268     $ 218,717     $ 223,228     $ 199,021  
    Money Market     54,955       55,251       52,478       54,817       52,019  
    Savings     204,241       198,667       198,042       194,919       188,303  
Total Smart Growth Deposits     490,041       474,186       469,237       472,964       439,343  
Time Deposits      140,598       143,536       146,227       157,547       159,968  
Total Deposits     630,639       617,722       615,464       630,511       599,311  
                                         
FHLB Advances     117,034       142,751       139,955       110,344       127,621  
Other Liabilities     7,258       7,948       6,669       6,682       5,501  
Stockholders' Equity      84,767       83,541       81,680       82,169        81,112  
TOTAL LIABILITIES AND                                        
STOCKHOLDERS' EQUITY   $ 839,698     $ 851,962     $ 843,768     $ 829,706     $ 813,545  
                                         
Ratio of Equity to Assets     10.09 %     9.81 %     9.68 %     9.90 %     9.97 %
Tangible Equity Ratio     9.70 %     9.42 %     9.29 %     9.50 %     9.56 %
Total Risk-Based Capital Ratio     14.34 %     14.09 %     13.79 %     14.12 %     14.09 %
Book Value per Common Share   $ 41.65     $ 41.09     $ 40.32     $ 39.68     $ 39.24  
Tangible Book Value Per Common Share (1)   $ 39.86     $ 39.29     $ 38.51     $ 37.91     $ 37.47  
Shares Outstanding (in thousands)     2,035       2,033       2,026       2,071       2,067  
Non-performing Assets/Total Assets     1.20 %     1.28 %     1.34 %     1.43 %     1.53 %
ALLL/Loans     1.28 %     1.27 %     1.27 %     1.32 %     1.33 %
ALLL/NPLs     87.76 %     82.52 %     79.63 %     74.02 %     71.25 %
                                         
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense on atax affected basis. The amount was calculated using the following information.  
   
Stockholders' Equity   $ 84,767     $ 83,541     $ 81,680     $ 82,169     $ 81,112  
Less goodwill and other Intangible                                        
assets, net of related income taxes      (3,656 )     (3,655 )     (3,658 )      (3,654 )      (3,657 )
Tangible Stockholders' Equity   $ 81,111     $ 79,886     $ 78,022     $ 78,515     $ 77,455  
                                         
Total Assets   $ 839,698     $ 851,962     $ 843,768     $ 829,706     $ 813,545  
Less goodwill and other Intangible                                        
assets, net of related income taxes      (3,656 )      (3,655 )     (3,658 )     (3,654 )      (3,657 )
Total Tangible Assets   $ 836,042     $ 848,307     $ 840,110     $ 826,052     $ 809,888  
                                         
                                         
                                         
TECHE HOLDING COMPANY  
(Dollars in thousands, except per share data)  
New Iberia, LA  
Annual Balance Sheet  
(UNAUDITED)  
   
    Dec. 2012     Dec. 2011     Dec.
 2010
    Dec. 2009  
SmartGrowth Loans                        
    Consumer   $ 113,365     $ 107,399     $ 111,139     $ 109,899  
    Commercial     220,463       213,659       208,797       213,505  
    Home Equity     42,546       47,261       52,182       57,373  
    SmartMortgage Loans      100,859        98,221        89,389        86,462  
Total SmartGrowth Loans     477,233       466,540       461,507       467,239  
  Mortgage Loans (owner occupied conforming)     165,364       166,088       132,224       135,048  
      642,597       632,628       593,731       602,287  
Allowance for Loan Losses     (8,234 )     (8,392 )     (9,953 )     (7,744 )
Loans Receivable, Net     634,363       624,236       583,778       594,543  
                                 
Cash and Securities     142,406       130,126       110,405       108,282  
Goodwill and Other Intangibles     3,657       3,667       3,682       3,707  
Foreclosed Real Estate     697       1,012       2,079       1,128  
Other      58,575        54,504       53,757        49,604  
TOTAL ASSETS   $ 839,698     $ 813,545     $ 753,701     $ 757,264  
                                 
SmartGrowth Deposits                                
    Checking   $ 230,845     $ 199,021     $ 186,240     $ 170,552  
    Money Market     54,955       52,019       55,557       80,034  
    Savings      204,241        188,303        169,326        128,254  
Total Smart Growth Deposits     490,041       439,343       411,123       378,840  
Time Deposits      140,598        159,968        172,316        196,651  
Total Deposits     630,639       599,311       583,439       575,491  
                                 
FHLB Advances     117,034       127,621       87.756       103,451  
Other Liabilities     7,258       5,501       6,009       6,000  
Stockholders' Equity      84,767        81,112       76,497        72,322  
TOTAL LIABILITIES AND                                
STOCKHOLDERS' EQUITY   $ 839,698     $ 813,545     $ 753,701     $ 757,264  
                                 
Ratio of Equity to Assets     10.09 %     9.97 %     10.15 %     9.55 %
Tangible Equity Ratio     9.70 %     9.56 %     9.71 %     9.07 %
Total Risk-Based Capital Ratio     14.34 %     14.09 %     13.79 %     12.70 %
Book Value per Common Share   $ 41.65     $ 39.24     $ 36.81     $ 34.49  
Tangible Book Value Per Common Share (1)   $ 39.86     $ 37.47     $ 35.04     $ 32.74  
Non-performing Assets/Total Assets     1.20 %     1.53 %     2.27 %     1.58 %
ALLL/Loans     1.28 %     1.33 %     1.68 %     1.29 %
ALLL/NPLs     87.76 %     73.72 %     66.36 %     72.12 %
Shares Outstanding (in thousands)     2,035       2,067       2,078       2,097  
                                 
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense.  
   
Stockholders' Equity   $ 84,767     $ 81,112     $ 76,497     $ 72,322  
Less goodwill and other Intangible                                
assets, net of related income taxes     (3,656 )     (3,657 )     (3,670 )     (3,687 )
Tangible Stockholders' Equity   $ 81,111     $ 77,455     $ 72,827     $ 68,365  
                                 
Total Assets   $ 839,698     $ 813,545     $ 753,701     $ 757,264  
Less goodwill and other Intangible                                
assets, net of related income taxes      (3,656 )      (3,657 )     (3,670 )      (3,687 )
Total Tangible Assets   $ 836,042     $ 809,888     $ 750,031     $ 753,577  
                                 
                                 
                                 
Quarter-End Loan Data
December 31, 2012
(In 000's)
 
 
 
Total
Loans
Dollars
 
 
 
Net Charge-
Offs
Dollars
 
 
 
Net Charge-
Offs
Percentage
 
 
 
 
 
 
90 Days +
Non Accrual
Dollars
 
 
 
90 Days +
Non Accrual
Percentage
 
 
 
Real Estate Loans                              
  Construction   $ 17,108   $ --   0.00 %   $ --   0.0 %
  Permanent, Secured by:                              
    1-4 Dwelling Units:                              
    Revolving, Open-End Loans (HELOC)     20,839     --   0.00 %     68   0.3 %
    All Other                              
      Secured by First Liens     347,104     285   0.08 %     2,888   0.8 %
      Secured by Junior Liens     6,800     --   0.00 %     --   0.0 %
    Multifamily (5+ Dwelling Units)     20,112     --   0.00 %     943   4.7 %
    Nonresidential Property (Except Land)     103,307     --   0.00 %     212   0.2 %
    Land      34,040      121    0.36 %      4,714   13.8 %
      Consumer     19,973     --   0.00 %     177   0.9 %
      Commercial      14,067     121   0.86 %      4,537    32.3 %
Subtotal - Real Estate Loans   $ 549,310   $ 406    0.07 %   $  8,825    1.6 %
                               
Non-Real Estate Loans:                              
  Commercial Loans   $ 33,364   $ --   0.00 %   $ 14   0.0 %
  Consumer Loans:                              
    Loans on Deposits     3,431     --   0.00 %     50   1.5 %
    Auto Loans     2,198     13   0.59 %     8   0.4 %
    Mobile Home Loans     38,055     54   0.14 %     645   1.7 %
    Other      16,239     2   0.01 %     39   0.2 %
Subtotal - Non Real Estate Loans   $ 93,287   $ 69   0.07 %   $  756   0.8 %
                               
Gross Loans   $ 642,597   $ 475   0.07 %   $ 9,581   1.5 %
                               
Non-accruals   $ 9,177                        
90 + Days Past Due     404                        
OREO & Foreclosed      683                        
    Nonperforming Assets (Net)   $ 10,264                        
    Performing TDRs     --                        
                         
                         
                               
Quarter-End Loan Data   Total   Net Charge-     Net Charge-     90 Days +   90 Days +  
September 30, 2012   Loans   Offs     Offs     Non Accrual   Non Accrual  
(In 000's)   Dollars   Dollars     Percentage     Dollars   Percentage  
Real Estate Loans                                
  Construction   $ 16,835   $ --     0.00 %   $ --   0.0 %
  Permanent, Secured by:                                
    1-4 Dwelling Units:                                
      Revolving, Open-End Loans (HELOC)     20,641     --     0.00 %     127   0.6 %
      All Other                                
        Secured by First Liens     383,954     285     0.07 %     4,140   1.1 %
        Secured by Junior Liens     6,892     --     0.00 %     181   2.6 %
    Multifamily (5+ Dwelling Units)     21,248     --     0.00 %     --   0.0 %
    Nonresidential Property (Except Land)     99,347     26     0.03 %     810   0.8 %
    Land      32,652      (4 )    0.01 %      4,530   13.9 %
        Consumer      19,340     --      0.00 %      186    1.0 %
        Commercial     13,312     (4 )   (0.03 %)     4,344   32.6 %
Subtotal - Real Estate Loans   $ 581,569   $ 307      0.05 %   $  9,788    1.7 %
                                 
Non-Real Estate Loans:                                
  Commercial Loans   $ 34,032   $ --     0.00 %   $ 2   0.0 %
  Consumer Loans:                                
      Loans on Deposits     3,636     --     0.00 %     89   2.4 %
      Auto Loans     2,112     --     0.00 %     21   1.0 %
      Mobile Home Loans     37,030     30     0.08 %     425   1.1 %
      Other      16,023     15     0.09 %     47   0.3 %
Subtotal - Non Real Estate Loans   $ 92,833   $ 45     0.05 %   $ 584   0.6 %
                                 
Gross Loans   $ 674,402   $ 352     0.05 %   $ 10,372   1.5 %
                                 
Non-accruals   $ 10,021                          
90 + Days Past Due     351                          
OREO & Foreclosed      490                          
  Nonperforming Assets (Net)   $ 10,862                          
  Performing TDRs     --                          
                           
                           
                           
Loans: Linked Quarter Comparison                            
Average Loan
Balances & Yields
(In 000's)
  12/31/
2012

Balance
  12/31/
2012

Yield
    09/30/
2012

Balance
  09/30/
2012

Yield
    Change
Balance
    Change
Yield
 
                   
Real Estate Loans                                      
    1-4 Family   $ 416,485   4.84 %   $ 419,789   4.95 %   $ (3,304 )   -0.11 %
    Commercial     136,251   5.25 %     135,547   5.40 %     704     -0.15 %
      552,736   4.94 %     555,336   5.06 %   $ (2,600 )   -0.12 %
                                       
Non-Real Estate Loans                                      
    Commercial   $ 35,093   5.41 %   $ 31,963   5.64 %   $ 3,130     -0.23 %
    Consumer     79,362   9.05 %     78,653   9.21 %     709     -0.16 %
      114,455   7.93 %     110,616   8.18 %     3,839     -0.25 %
                                       
Total All Loans   $ 667,191   5.45 %   $ 665,952   5.58 %   $ 1,239     -0.13 %
                                       
                                       
Prior Year Comparison
Average Loan Balances & Yields (In 000's)
  12/31/
2012

Balance
  12/31/
2012

Yield
    12/31/
2011

Balance
  12/31/
2011

Yield
    Change
Balance
    Change
Yield
 
                   
Real Estate Loans                                      
    1-4 Family   $ 416,485   4.84 %   $ 384,094   5.21 %   $ 32,391     -0.37 %
    Commercial     136,251   5.25 %     132,074   5.64 %     4,177     -0.39 %
      552,736   4.94 %     516,168   5.32 %     36,568     -0.38 %
                                       
Non-Real Estate Loans                                      
    Commercial   $ 35,093   5.41 %   $ 27,258   6.06 %   $ 7,835     -0.65 %
    Consumer     79,362   9.05 %     77,647   9.33 %     1,715     -0.28 %
      114,455   7.93 %     104,905   8.48 %     9,550     -0.55 %
                                       
Total All Loans   $ 667,191   5.45 %   $ 621,073   5.85 %   $ 46,118     -0.40 %
                                       
                                       
                                       
Loans: Linked Quarter Comparison                            
Average Loan   09/30/
2012
  09/30/
2012
    06/30/
2012
  06/30/
2012
    Change     Change  
Balances & Yields (In 000's)   Balance   Yield     Balance   Yield     Balance     Yield  
Real Estate Loans                                      
  1-4 Family   $ 419,789   4.95 %   $ 407,115   5.03 %   $ 12,674     -0.08 %
  Commercial     135,547   5.40 %     136,402   5.57 %   $ (855 )   -0.17 %
Total Real Estate Loans     555,336   5.06 %     543,517   5.18 %     11,819     -0.12 %
                                       
Non-Real Estate Loans                                      
  Commercial   $ 31,963   5.64 %   $ 28,206   5.46 %   $ 3,757     0.18 %
  Consumer     78,653   9.21 %     76,917   9.10 %     1,736     0.11 %
Total Non-Real Estate Loans     110,616   8.18 %     105,123   8.13 %     5,493     0.05 %
                                       
Total All Loans   $ 665,952   5.58 %   $ 648,640   5.63 %   $ 17,312     -0.05 %
                                       
                                       
Loans: Prior Year Comparison                                
Average Loan
 Balances & Yields (In 000's)
  09/30/
2012

Balance
  09/30/
2012

Yield
    09/30/
2011

Balance
  09/30/
2011

Yield
    Change
Balance
    Change
Yield
 
                   
Real Estate Loans                                      
  1-4 Family   $ 401,968   5.08 %   $ 353,573   5.73 %   $ 48,395     -0.65 %
  Commercial     135,300   5.51 %     131,192   5.63 %     4,108     -0.12 %
      537,268   5.19 %     484,765   5.70 %     52,503     -0.51 %
                                       
Non-Real Estate Loans                                      
  Commercial   $ 28,543   5.79 %   $ 26,211   5.99 %   $ 2,332     -0.20 %
  Consumer     77,413   9.21 %     79,378   9.42 %     (1,965 )   -0.21 %
      105,956   8.29 %     105,589   8.57 %     367     -0.28 %
                                       
Total All Loans   $ 643,224   5.70 %   $ 590,354   6.21 %   $ 52,870     -0.51 %
                                       
                                       
                                       
Interest-bearing Liabilities: Linked Quarter Comparison  
   
Average balances
(In 000's)
  12/31/
2012
  12/31/
2012
    9/30/
2012
  9/30/
2012
    Change     Change     %  
  $
Balance
  Avg.
Yield
    $
Balance
  Avg.
Yield
    $
Balance
    Avg.
Yield
    Balance
Change
 
  NOW Accounts   $ 128,492   0.22 %   $ 124,017   0.22 %   $ 4,475     0.00 %   3.6 %
  Non-interest bearing Deposits     96,213   0.00 %     91,077   0.00 %     5,136     0.00 %   5.6 %
    Checking Total   $ 224,705   0.12 %   $ 215,094   0.12 %   $ 9,611     0.00 %   4.5 %
                                               
  Savings Accounts   $ 203,181   0.33 %   $ 198,079   0.33 %   $ 5,102     0.00 %   2.6 %
  Money Market Accounts     54,445   0.15 %     54,791   0.18 %     (346 )   -0.03 %   -0.6 %
                                               
  Total Smart Growth Deposits   $ 482,331   0.21 %   $ 467,964   0.22 %   $ 14,367     -0.01 %   3.1 %
                                               
  Time Deposits   $ 141,358   1.62 %   $ 144,821   1.75 %   $ (3,463 )   -0.13 %   -2.4 %
                                               
  Total Deposits   $ 623,689   0.53 %   $ 612,785   0.58 %   $ 10,904     -0.05 %   1.8 %
                                               
  FHLB Advances   $ 131,845   3.04 %   $ 141,565   2.85 %   $ (9,720 )   0.19 %   -6.9 %
                                             
Total Interest-bearing liabilities   $ 659,321   1.11 %   $ 663,273   1.14 %   $ (3,952 )   -0.03 %   -0.6 %
                                             
Non-interest bearing Deposits   $ 96,213   0.00 %   $ 91,077   0.00 %   $ 5,136     0.00 %   5.6 %
                                             
                                             
                                             
Interest-bearing Liabilities: Prior Year Comparison  
   
Average balances
(In 000's)
  12/31/
2012
  12/31/
2012
    12/31/
2011
  12/31/
2011
    Change     Change     %  
  $
Balance
  Avg.
Yield
    $
Balance
  Avg.
Yield
    $
Balance
    Avg.
Yield
    Balance
Change
 
  NOW Accounts   $ 128,492   0.22 %   $ 111,078   0.18 %   $ 17,414     0.04 %   15.7 %
  Non-interest bearing Deposits     96,213   0.00 %     81,272   0.00 %     14,941     0.00 %   18.4 %
    Checking Total   $ 224,705   0.12 %   $ 192,350   0.11 %   $ 32,355     0.01 %   16.8 %
                                               
  Savings Accounts   $ 203,181   0.33 %   $ 186,897   0.31 %   $ 16,284     0.02 %   8.7 %
  Money Market Accounts     54,445   0.15 %     54,473   0.23 %     (28 )   -0.08 %   -0.1 %
                                               
  Total Smart Growth Deposits   $ 482,331   0.21 %   $ 433,720   0.21 %   $ 48,611     0.00 %   11.2 %
                                               
  Time Deposits   $ 141,358   1.62 %   $ 160,656   2.24 %   $ (19,298 )   -0.62 %   -12.0 %
                                             
Total Deposits   $ 623,689   0.53 %   $ 594,376   0.76 %   $ 29,313     -0.23 %   4.9 %
                                             
  FHLB Advances   $ 131,845   3.04 %   $ 120,740   3.15 %   $ 11,105     -0.11     9.2 %
                                             
Total Interest-bearing liabilities   $ 659,321   1.11 %   $ 633,844   1.31 %   $ 25,477     -0.20 %   4.0 %
                                             
Non-interest bearing Deposits   $ 96,213   0.00 %   $ 81,272   0.00 %   $ 14,941     0.00 %   18.4 %
                                             
                                             
                                             
Interest-bearing Liabilities: Linked Quarter Comparison  
   
Average balances
(In 000's)
  09/30/
2012

$Balance
  09/30/
2012

Avg. Yield
    06/30/
2012

$Balance
  06/30/
2012

Avg. Yield
    Change
$Balance
    Change
Avg. Yield
    %Balance
Change
 
NOW Accounts   $ 124,017   0.22 %   $ 123,851   0.20 %   $ 166     0.02 %   0.1 %
Non-interest bearing Deposits     91,077   0.00 %     93,721   0.00 %     (2,644 )   0.00 %   -2.8 %
  Checking Total   $ 215,094   0.12 %   $ 217,572   0.12 %   $ (2,478 )   0.00 %   -1.1 %
                                             
  Savings Accounts   $ 198,079   0.33 %   $ 196,611   0.33 %   $ 1,468     0.00 %   0.7 %
  Money Market Accounts     54,791   0.18 %     52,489   0.25 %     2,302     -0.07 %   4.4 %
                                             
  Total Smart Growth Deposits   $ 467,964   0.22 %   $ 466,672   0.22 %   $ 1,292     0.00 %   0.3 %
                                             
  Time Deposits   $ 144,821   1.75 %   $ 150,537   1.92 %   $ (5,716 )   -0.17 %   -3.8 %
                                             
  Total Deposits   $ 612,785   0.58 %   $ 617,209   0.64 %   $ (4,424 )   -0.06 %   -0.7 %
                                             
  FHLB Advances   $ 141,565   2.85 %   $ 123,681   3.27 %   $ 17,884     -0.42 %   14.5 %
                                             
Total Interest-bearing liabilities   $ 663,273   1.14 %   $ 647,169   1.23 %   $ 16,104     -0.09 %   2.5 %
                                             
Non-interest bearing Deposits   $ 91,077   0.00 %   $ 93,721   0.00 %   $ (2,644 )   0.00 %   -2.8 %
                                             
                                             
                                   
Interest-bearing Liabilities: Average Quarter Balances  
   
Average balances
 (In 000's)
  09/30/
2012

$Balance
  09/30/
2012

Avg. Yield
    09/30/
2011

$Balance
  09/30/
2011

Avg. Yield
    Change
$Balance
    Change
Avg. Yield
    %Balance
Change
 
NOW Accounts   $ 124,017   0.22 %   $ 108,579   0.14 %   $ 15,438     0.08 %   14.2 %
Non-interest bearing Deposits     91,077   0.00 %     87,454   0.00 %     3,623     0.00 %   4.1 %
  Checking Total   $ 215,094   0.12 %   $ 196,033   0.08 %   $ 19,061     0.04 %   9.7 %
                                               
  Savings Accounts   $ 198,079   0.33 %   $ 191,840   0.33 %   $ 6,239     0.00 %   3.3 %
  Money Market Accounts     54,791   0.18 %     54,787   0.30 %     4     -0.12 %   0.0 %
                                               
  Total Smart Growth Deposits   $ 467,964   0.22 %   $ 442,660   0.22 %   $ 25,304     0.00. %   5.7 %
                                               
  Time Deposits   $ 144,821   1.75 %   $ 165,284   2.25 %   $ (20,463 )   -0.50 %   -12.4 %
                                               
  Total Deposits   $ 612,785   0.58 %   $ 607,944   0.77 %   $ 4,841     -0.19 %   0.8 %
                                               
  FHLB Advances   $ 141,565   2.85 %   $ 92,514   3.93 %   $ 49,051     -1.08 %   53.0 %
                                             
Total Interest-bearing liabilities   $ 663,273   1.14 %   $ 613,004   1.36 %   $ 50,269     -0.22 %   8.2 %
                                             
Non-interest bearing Deposits   $ 91,077   0.00 %   $ 87,454   0.00 %   $ 3,623     0.00 %   4.1 %
                                             
Quarter-End Loan Quality Details  
 
 
Total
Loans
 
 
 
 
 
Classified
 
 
 
 
 
% Total
 
 
 
 
 
 
 
Special
Mention 
 
 
 
 
 
% Total
 
 
 
 
 
 
 
 
Pass
 
 
 
 
 
% Total
 
 
 
December 31, 2012
(In Thousands)
Commercial Loans                                          
  Commercial Land   $ 14,067   $ 4,537   32.3 %   $ --   0.0 %   $ 9,530   67.7 %
  Commercial Construction     7,486     --   0.0 %     367   4.9 %     7,119   95.1 %
  Commercial Real Estate     123,418     3,389   2.7 %     863   0.7 %     119,166   96.6 %
  Commercial Non Real Estate     33,364     157   0.5 %     227   0.7 %     32,980   98.8 %
    Total Commercial   $ 178,335   $ 8,083   4.5 %   $ 1,457   0.8 %   $ 168,795   94.7 %
                                           
Residential Loans                                          
  Residential Construction   $ 9,622   $ --   0.0 %   $ --   0.0 %   $ 9,622   100.0 %
  Residential     376,546     4,252   1.1 %     325   0.1 %     371,969   98.8 %
    Total Residential   $ 386,168   $ 4,252   1.1 %   $ 325   0.1 %   $ 381,591   98.8 %
                                           
Consumer Loans                                          
  Mobile Homes   $ 38,055   $ 576   1.5 %   $ --   0.0 %   $ 37,479   98.5 %
  Consumer Other     41,840     291   0.7 %     195   0.5 %   $ 41,354   98.8 %
    Total Consumer   $ 79,895   $ 867   1.1 %   $ 195   0.2 %   $ 78,833   98.7 %
                                           
Total All Loans   $ 644,398   $ 13,202   2.0 %   $ 1,977   0.3 %   $ 629,219   97.6 %
                                           
                                           
                                           
Quarter-End Loan Quality Details                                  
September 30, 2012   Total
Loans
   
Classified
   
% Total
    Special
Mention
   
% Total
     
Pass
   
% Total
 
(In Thousands)                    
Commercial Loans                                          
  Commercial Land   $ 13,312   $ 4,658   35.0 %   $ 17   0.1 %   $ 8,637   64.9 %
  Commercial Construction     7,357     --   0.0 %     370   5.0 %     6,987   95.0 %
  Commercial Real Estate     120,558     3,524   2.9 %     872   0.7 %     116,162   96.4 %
  Commercial Non Real Estate     34,032     154   0.5 %     50   0.1 %     33,828   99.4 %
    Total Commercial   $ 175,259   $ 8,336   4.8 %   $ 1,309   0.7 %   $ 165,614   94.5 %
                                           
Residential Loans                                          
  Residential Construction   $ 9,478   $ --   0.0 %   $ --   0.0 %   $ 9,478   100.0 %
  Residential     413,500     4,561   1.1 %     328   0.1 %     408,611   98.8 %
    Total Residential   $ 422,978   $ 4,561   1.1 %   $ 328   0.1 %   $ 418,089   98.8 %
                                           
Consumer Loans                                          
  Mobile Homes   $ 37,030   $ 424   1.1 %   $ --   0.0 %   $ 36,606   98.9 %
  Consumer Other     41,110     254   0.6 %     176   0.4 %   $ 40,680   99.0 %
    Total Consumer   $ 78,140   $ 678   0.9 %   $ 176   0.2 %   $ 77,286   98.9 %
                                           
Total All Loans   $ 676,377   $ 13,575   2.0 %   $ 1,813   0.3 %   $ 660,989   97.7 %
                                           
                                           
                                           

Contact Information

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