SOURCE: Teche Holding Company

Teche Holding Company

April 24, 2013 08:00 ET

Teche Posts Record EPS of $2.24 for Fiscal Year to Date

NEW IBERIA, LA--(Marketwired - Apr 24, 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 March 31, 2013, the second quarter of fiscal year 2013.

Earnings for the quarter ended March 31, 2013 amounted to $1.6 million or $0.75 per diluted share, compared to $1.7 million or $0.82 per diluted share for the same quarter in fiscal 2012, a decrease of $0.07 per diluted share, or 8.5%.

Earnings for the six month period ended March 31, 2013 amounted to $4.6 million, or $2.24 per diluted share, compared to $3.5 million or $1.67 per diluted share, for the same period in fiscal 2012, an increase of $0.57 per diluted share, or 34.1%. 

"Our deposit growth has been spectacular," stated Little. "Total deposits increased 4.7% over the past 12 months, with SmartGrowth deposits increasing 10.3%."

"Our ROAA fiscal year to date is 1.09% and our ROAE is 10.68%," continued Little.

"Our fiscal year to date earnings of $2.24 per share is another record," said Little. "Our loan balances, particularly commercial loans, this quarter don't tell the whole story. Commercial loan production was strong this quarter, with over $24 million in total loans closed. However, we also had three large commercial relationships pay off. Our commercial loan pipeline is moving along very well and our retail loans continue to grow. Our goal is to have our loan levels better than prior year levels by year-end."

The Company reported the following points of interest:

  • Checking Account Balances increased $28.2 million, or 12.2% compared to the linked quarter and 16.0% compared to March 31, 2012.
  • SmartGrowth Deposits increased 6.5% over the linked quarter and 10.3% compared to a year ago. SmartGrowth Deposits amounted to 79.0% of total deposits, compared to 77.7% at December 31, 2012 and 75.0% a year ago.
  • The average rate paid on all deposits was 0.45% for the quarter compared to 0.53% for the linked quarter and 0.72% a year ago.
  • Tangible book value per share increased to $40.62, an increase of 1.9%, or $0.76 per share, compared to the linked quarter-end and an increase of 7.2%, or $2.71 per share, year-over-year.
  • Non-performing loans decreased due to the payoff of a $3.8 million non-performing loan.
  • Net charge offs for the quarter amounted to 0.05% of average loans.
  • The Bank opened a new branch office in Baton Rouge.

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
  Mar '13     Dec '12     Sep '12     Jun '12     Mar '12  
Net Charge-offs/Average Loans   0.05 %   0.07 %   0.05 %   0.08 %   0.08 %
ALLL*/NPLs   158.54 %   87.76 %   82.52 %   79.63 %   74.02 %
ALLL*/NPAs   138.95 %   81.52 %   78.54 %   74.54 %   71.40 %
ALLL*/Loans   1.26 %   1.28 %   1.27 %   1.27 %   1.32 %
NPAs/Assets   0.68 %   1.20 %   1.28 %   1.34 %   1.43 %
*ALLL figures include specific reserves.
 

There was significant improvement in several asset quality ratios this quarter, primarily due to the resolution of a non-performing loan with a balance of $3.8 million. For the linked quarter the ALLL/NPL ratio increased to 158.54% from 87.76% in the linked quarter, the ALLL/NPA ratio increased to 138.95% from 81.52% in the same quarter and the NPA/Assets ratio decreased to 0.68% from 1.20% at December 31, 2012.

Non-performing assets decreased to $5.9 million, or 0.68% of total assets at March 31, 2013, compared to $10.1 million, or 1.20% of total assets at December 31, 2012 and $11.8 million, or 1.43% of total assets a year ago, primarily due to the payoff of a non-performing loan in the amount of $3.8 million.

"Our net charge-offs are very low," said Little. "This demonstrates that asset quality is an important focus for the Company. At Teche, we are sticking with our disciplined lending strategy and conservative underwriting standards in an effort to avoid transactions that may provide a short term boost in revenue but also a long term drag on earnings."

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)
  Mar '13   Dec '12   Sep '12   Jun '12   Mar '12
Beginning ALLL   $ 8,234   $ 8,559   $ 8,411   $ 8,450   $ 8,392
Provision for Loan Losses     250     150     500     510     550
Net Charge-offs     349     475     352     549     492
Ending ALLL   $ 8,135   $ 8,234   $ 8,559   $ 8,411   $ 8,450
Ending ALLL (net of specific reserves)   $ 8,135   $ 8,234   $ 8,559   $ 8,411   $ 8,246
                               

The allowance for loan losses was 1.26% of total loans, or $8.1 million, at March 31, 2013 compared to 1.28% of total loans, or $8.2 million at December 31, 2012 and 1.32% of total loans, or $8.5 million at March 31, 2012.

Net charge-offs for the quarter were $0.3 million, or 0.05% of average loans, compared to $0.5 million, or 0.08% of average loans, for the same period a year ago. For the twelve months ended March 31, 2013, net charge-offs were $1.7 million, or 0.26% of average loans, compared to $4.7 million, or 0.76% of average loans for the twelve months ended March 31, 2012. Quarterly net charge-offs have remained relatively stable during the past 12 months.

Capital
Over the past twelve months, stockholders' equity increased 5.4% to a record $86.6 million. The tangible equity ratio at March 31, 2013 has increased to 9.69% compared to 9.50% a year ago. Tangible book value per common share has increased to a record $40.62, an increase of 7.2% compared to a year ago. Risk based capital increased to 14.38% compared to 14.12% a year ago; and the equity to asset ratio increased to 10.07% from 9.90% a year ago.

Over the past twelve month period, total assets increased 3.7% or $30.6 million to $860.3 million. 

   
Total Assets (in millions)
 
   
   
QUARTERLY COMPARISON   Mar '13     Dec '12     Sep '12     Jun '12     Mar '12  
Stockholders' Equity (in millions)   $ 86.6     $ 84.8     $ 83.5     $ 81.7     $ 82.2  
Ratio of Equity to Assets     10.07 %     10.09 %     9.81 %     9.68 %     9.90 %
Basic Earnings Per Share   $ 0.76     $ 1.51     $ 1.02     $ 0.84     $ 0.83  
Diluted Earnings per Share   $ 0.75     $ 1.49     $ 1.01     $ 0.83     $ 0.82  
Tangible Equity Ratio     9.69 %     9.70 %     9.42 %     9.29 %     9.50 %
Total Risk-Based Capital Ratio     14.38 %     14.34 %     14.09 %     13.79 %     14.12 %
Book Value per Common Share   $ 42.40     $ 41.65     $ 41.09     $ 40.32     $ 39.68  
Tangible Book Value Per Common Share   $ 40.62     $ 39.86     $ 39.29     $ 38.51     $ 37.91  
Total Assets (in millions)   $ 860.3     $ 839.7     $ 852.0     $ 843.8     $ 829.7  
                                         

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 did not declare an additional dividend for the first quarter of 2013.  

   
QUARTERLY COMPARISON (In 000's)   Mar '13       Dec '12       Sep '12       Jun '12       Mar '12  
Dividends Declared Per Share   $ 0.00       $ 0.73       $ 0.365       $ 0.365       $ 0.365  
Basic Earnings Per Common Share   $ 0.76       $ 1.51       $ 1.02       $ 0.84       $ 0.83  
Diluted Earnings Per Common Share   $ 0.75       $ 1.49       $ 1.01       $ 0.83       $ 0.82  
Return on Avg. Assets     0.74 %       1.44 %       0.98 %       0.83 %       0.83 %
Return on Avg. Equity     7.19 %       14.17 %       9.81 %       8.28 %       8.22 %
   
 
Operating Revenue
Net Interest Income
QUARTERLY COMPARISON (In 000's)
  Mar '13   Dec '12   Sep '12   Jun '12   Mar '12
Interest Income   $ 9,002   $ 9,571   $ 9,836   $ 9,725   $ 9,807
Interest Expense     1,697     1,832     1,895     1,993     2,111
                               
Net Interest Income   $ 7,305   $ 7,739   $ 7,941   $ 7,732   $ 7,696
                               

Interest income decreased in the quarter ended March 31, 2013 as compared to the linked quarter, primarily due to the sale of $46.3 million of conforming mortgage loans during the linked quarter.

                               
Net Interest Margin and Spread
QUARTERLY COMPARISON
  Mar '13     Dec '12     Sep '12     Jun '12     Mar '12  
Yield on Earning Assets   4.66 %   4.92 %   5.07 %   5.10 %   5.20 %
Cost of Interest Bearing Liabilities   1.04 %   1.11 %   1.14 %   1.23 %   1.31 %
Spread   3.62 %   3.80 %   3.93 %   3.87 %   3.90 %
Net Interest Margin   3.78 %   3.98 %   4.10 %   4.06 %   4.08 %
                               

Net interest margin amounted to 3.78% for the three month period ended March 31, 2013 compared to 4.08% for the three months ended March 31, 2012. The decrease was primarily due to low market interest rates and the asset sensitivity of the balance sheet. The Company manages the risk of interest rates possibly rising in the future by continuing to grow core deposits, primarily checking and savings accounts, and by investing in longer term Federal Home Loan Bank advances.

Spread amounted to 3.62% for the three month period ended March 31, 2013, compared to 3.90% for the same period in the previous year. Compared to the same quarter last year, average yield on earnings assets decreased 54 basis points from 5.20% to 4.66%, while the average cost of funds decreased 27 basis points from 1.31% to 1.04%.

Operating revenue for the quarter ended March 31, 2013, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $11.3 million, which was $0.3 million lower than the same quarter in 2012.

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

                     
Operating Revenue
QUARTERLY COMPARISON (in millions)
  Mar '13   Dec '12   Sep '12   Jun '12   Mar '12
Net Interest Income   $ 7.3   $ 7.7   $ 7.9   $ 7.7   $ 7.7
Non-Interest Income     4.0     5.8     4.2     3.7     3.9
Operating Revenue   $ 11.3   $ 13.5   $ 12.1   $ 11.4   $ 11.6
                               

Non-Interest Income
Non-interest income decreased to $4.0 million for the quarter ended March 31, 2013 from $5.8 million for the linked quarter due to the $2.0 million gain on the sale of mortgage loans during the linked quarter, but increased slightly from $3.9 million for the quarter ended March 31, 2012. Non-interest income amounted to 1.87% of average assets for the quarter, compared to 2.73% for the linked quarter and 1.89% a year ago.

                               
Non-Interest Income & Expense
QUARTERLY COMPARISON (in thousands)
  Mar '13     Dec '12     Sep '12     Jun '12     Mar '12  
  Interchange fee Income   $ 839     $ 826     $ 847     $ 917     $ 843  
  Other Non-Interest Income   $ 3,131     $ 4,986     $ 3,361     $ 2,734     $ 3,038  
Total Non-Interest Income   $ 3,971     $ 5,812     $ 4,208     $ 3,651     $ 3,881  
Total Non-Interest Income/Avg. Assets     1.87 %     2.73 %     1.99 %     1.76 %     1.89 %
Non-Interest Expense   $ 8,705     $ 8,752     $ 8,534     $ 8,287     $ 8,445  
Non-Interest Expense/Avg. Assets     4.11 %     4.11 %     4.03 %     3.99 %     4.11 %
                                         

Non-Interest Expense
For the quarter ended March 31, 2013, non-interest expense was $8.7 million, or 4.11% of average assets, compared to the $8.8 million, or 4.11% of average assets, for the linked quarter. Non-interest expense increased $0.3 million, or 3.1%, to $8.7 million for the quarter ended March 31, 2013 from $8.4 million for the quarter ended March 31, 2012, primarily due to compensation and marketing expenses.

Loans

                     
QUARTERLY COMPARISON (In 000,000's)   Mar '13   Dec '12   Sep '12   Jun '12   Mar '12
SmartGrowth Loans                              
  Consumer   $ 115.8   $ 113.4   $ 110.2   $ 109.3   $ 106.6
  Commercial     212.4     220.5     215.2     216.9     208.6
  Home Equity     42.1     42.5     43.2     44.5     46.5
  SmartMortgages     104.0     100.8     111.1     106.5     102.2
Total SmartGrowth Loans   $ 474.3   $ 477.2   $ 479.7   $ 477.2   $ 463.9
Mortgage Loans (owner occupied conforming)     169.0     165.4     194.7     183.3     177.6
Total Loans   $ 643.3   $ 642.6   $ 674.4   $ 660.5   $ 641.5
                               

Linked Quarter Comparison. Gross loans receivable increased to $643.3 million at March 31, 2013, from $642.6 million at December 31, 2012, an increase of $0.7 million, or 0.1%. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans and consumer loans, were $474.3 million, or 73.7% of total loans at March 31, 2013, compared to $477.2 million, or 74.3% of total loans at December 31, 2012, a three month decrease of $2.9 million, or 0.6% primarily due to the payoff of three large commercial relationships.

Commercial loan balances at March 31, 2013 amounted to $212.4 million, compared to $220.5 million at December 31, 2012, a three month decrease of $8.1 million or 3.7%. Darryl Broussard, Sr. Vice President and Chief Lending Officer, stated, "Two performing commercial relationships totaling approximately $8 million paid off amid circumstances that we do not expect to be a trend. A portion of the decrease in commercial loans is attributable to the payoff of a $3.8 million non-performing loan during March. Additionally, commercial loan production has increased 80% during the first half of the fiscal year compared to last year. Our commercial loan pipeline is up significantly over last year." 

Consumer loan balances at March 31, 2013 amounted to $115.8 million, compared to $113.4 million at December 31, 2012, a linked quarter increase of $2.4 million, or 2.2%. 

One Year Comparison. Gross loans receivable increased to $643.3 million at March 31, 2013 from $641.5 million at March 31, 2012, a twelve month increase of $1.8 million, or 0.3%. SmartGrowth Loans increased to $474.3 million at March 31, 2013, from $463.9 million at March 31, 2012, a twelve month increase of $10.4 million, or 2.2%. 

Commercial loan balances at March 31, 2013 amounted to $212.4 million, compared to $208.6 million at March 31, 2012, a twelve month increase of $3.8 million, or 1.8%. Consumer loan balances at March 31, 2013 amounted to $115.8 million, compared to $106.6 million at March 31, 2012 a twelve month increase of $9.2 million, or 8.6%. "Quality loan origination and retention are a major focus for Teche," said Broussard. "The current favorable economic climate in South Louisiana provides a strong tailwind for us."

Deposits

                     
QUARTERLY COMPARISON (In 000,000's)   Mar '13   Dec '12   Sep '12   Jun '12   Mar '12
SmartGrowth Deposits                              
  Checking   $ 259.0   $ 230.8   $ 220.3   $ 218.7   $ 223.3
  Money Market     52.1     55.0     55.2     52.5     54.8
  Savings     210.6     204.2     198.7     198.1     194.9
Total SmartGrowth Deposits   $ 521.7   $ 490.0   $ 474.2   $ 469.3   $ 473.0
Time Deposits     138.7     140.6     143.5     146.2     157.5
Total Deposits   $ 660.4   $ 630.6   $ 617.7   $ 615.5   $ 630.5
                               

Linked Quarter Comparison. Total deposits increased to $660.4 million at March 31, 2013, from $630.6 million at December 31, 2012, a linked quarter increase of $29.8 million, or 4.7%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts, increased $31.7 million, or 6.5%, to $521.7 million at March 31, 2013, from $490.0 million at December 31, 2012.

Checking account balances increased $28.2 million, or 12.2%, to $259.0 million at March 31, 2013, from $230.8 million at December 31, 2012.

One Year Comparison. Total deposits increased to $660.4 million at March 31, 2013, from $630.5 million at March 31, 2012, a twelve month increase of $29.9 million, or 4.7%. Total SmartGrowth Deposits increased $48.7 million, or 10.3% from $473.0 million at March 31, 2012 to $521.7 million at March 31, 2013.

SmartGrowth Deposits amounted to 79.0% of total deposits as of March 31, 2013 compared to 75.0% at March 31, 2012.

Checking account balances have increased 16.0%, or $35.7 million, in the past twelve months from $223.3 million at March 31, 2012 to $259.0 million at March 31, 2013. Checking account balances at March 31, 2013 accounted for 39.2% of total deposits compared to 35.4% of total deposits at March 31, 2012.

Teche Holding Company is the parent company of Teche Federal Bank, which operates twenty offices in South Louisiana and serves over 68,000 customers. Teche is the fourth largest publicly traded bank holding company based in Louisiana with over $860 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  
Condensed Statements of Income   Mar.
2013
    Dec.
2012
    Sep.
2012
    Jun.
2012
    Mar.
2012
 
Interest Income   $ 9,002     $ 9,571     $ 9,836     $ 9,725     $ 9,807  
Interest Expense     1,697       1,832       1,895       1,993       2,111  
Net Interest Income     7,305       7,739       7,941       7,732       7,696  
Provision for Loan Losses     250       150       500       510       550  
Net Interest Income after                                        
  Provision for Loan Losses     7,055       7,589       7,441       7,222       7,146  
Non Interest Income     3,971       5,812       4,208       3,651       3,881  
Non Interest Expense     8,705       8,752       8,534       8,287       8,445  
Income Before Income Taxes    
2,321
     
4,649
     
3,115
     
2,586
     
2,582
 
Income Taxes     762       1,577       1,042       854       874  
Net Income   $ 1,559     $ 3,072     $ 2,073     $ 1,732     $ 1,708  
Selected Financial Data                                        
Dividends Declared Per Share   $ 0.00     $ 0.73     $ 0.365     $ 0.365     $ 0.365  
Basic Earnings Per Common Share   $ 0.76     $ 1.51     $ 1.02     $ 0.84     $ 0.83  
Diluted Earnings Per Common Share   $ 0.75     $ 1.49     $ 1.01     $ 0.83     $ 0.82  
Annualized Return on Avg. Assets     0.74 %     1.44 %     0.98 %     0.83 %     0.83 %
Annualized Return on Avg. Equity     7.19 %     14.17 %     9.81 %     8.28 %     8.22 %
Annualized Return on Avg.                                        
  Tangible Equity (1)     7.52 %     14.80 %     10.25 %     8.67 %     8.61 %
Yield on Interest Earning Assets     4.66 %     4.92 %     5.07 %     5.10 %     5.20 %
Cost of Interest Bearing Liabilities     1.04 %     1.11 %     1.14 %     1.23 %     1.31 %
Spread     3.62 %     3.80 %     3.93 %     3.87 %     3.90 %
Net Interest Margin     3.78 %     3.98 %     4.10 %     4.06 %     4.08 %
Non-Interest Income/Avg. Assets     1.87 %     2.73 %     1.99 %     1.76 %     1.89 %
Non-Interest Expense/Avg. Assets     4.11 %     4.11 %     4.03 %     3.99 %     4.11 %
Quarterly Net Charge-offs/Avg. Loans     0.05 %     0.07 %     0.05 %     0.08 %     0.08 %
Weighted avg. shares Outstanding                                        
    Basic     2,038       2,039       2,028       2,055       2,067  
    Diluted     2,066       2,064       2,061       2,078       2,088  
AVERAGE BALANCE SHEET DATA                                        
Total Assets   $ 847,615     $ 851,126     $ 846,114     $ 830,958     $ 821,582  
Earning assets   $ 772,248     $ 778,592     $ 775,399     $ 762,007     $ 753,980  
Loans   $ 641,192     $ 667,191     $ 665,952     $ 648,640     $ 636,356  
Interest-bearing deposits   $ 538,889     $ 527,476     $ 521,708     $ 523,488     $ 522,420  
Total deposits   $ 640,504     $ 623,689     $ 612,785     $ 617,209     $ 608,777  
Total stockholders' equity   $ 86,682     $ 86,713     $ 84,525     $ 83,643     $ 83,095  
                                         
(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   $ 86,682     $ 86,713     $ 84,525     $ 83,643     $ 83,095  
Less average goodwill and other intangible assets, net of related income taxes     3,656       3,657       3,659       3,664       3,665  
Average Tangible Equity   $ 83,026     $ 83,056     $ 80,866     $ 79,979     $ 79,430  
                                         
Net Income   $ 1,559     $ 3,072     $ 2,073     $ 1,732     $ 1,708  
Plus Amortization of core deposit intangibles, net of related income taxes     1       1       1       2       2  
Net Income, as adjusted   $ 1,560     $ 3,073     $ 2,074     $ 1,734     $ 1,710  
                                         
                                         
   
TECHE HOLDING COMPANY  
(Dollars in thousands, except per share data)  
New Iberia, LA  
Statements of Income  
(UNAUDITED)  
    FISCAL YEAR TO DATE (SIX MONTHS) ENDED  
    Mar.     Mar.              
    2013     2012     $Change     %Change  
Interest Income   $ 18,573     $ 19,573     $ (1,000 )   -5.1 %
Interest Expense     3,529       4,191       (662 )   -15.8 %
Net Interest Income     15,044       15,382       (338 )   -2.2 %
Provision for Loan Losses     400       900       (500 )   -55.6  
Net Interest Income after                              
  Provision for Loan Losses     14,644       14,482       162     1.1 %
Non Interest Income     9,783       7,649       2,134     27.9 %
Non Interest Expense     17,457       16,892       565     3.3 %
                               
  Income Before Income Taxes     6,970       5,239       1,731     33.0 %
Income Taxes     2,339       1,759       580     33.0 %
Net Income   $ 4,631     $ 3,480     $ 1,151     33.1 %
                               
Selected Financial Data                              
Dividends Declared Per Share   $ 0.73     $ 0.725     $ 0.05     0.7 %
Basic Earnings Per Common Share   $ 2.27     $ 1.69     $ 0.58     34.3 %
Diluted Earnings Per Common Share   $ 2.24     $ 1.67     $ 0.57     34.1 %
Annualized Return on Avg. Assets     1.09 %     0.86 %     0.23 %   26.7 %
Annualized Return on Avg. Equity     10.68 %     8.54 %     2.14 %   25.1 %
Annualized Return on Avg.                              
  Tangible Equity (1)     11.16 %     8.94 %     2.22 %   24.8 %
Yield on Interest Earning Assets     4.79 %     5.25 %     -0.46 %   -8.8 %
Cost of Interest Bearing Liabilities     1.08 %     1.31 %     -0.23 %   -17.6 %
Spread     3.71 %     3.94 %     -0.23 %   -5.8 %
Net Interest Margin     3.88 %     4.12 %     -0.24 %   -5.8 %
Non-Interest Income/Avg. Assets     2.30 %     1.88 %     -0.42 %   22.3 %
Non-Interest Expense/Avg. Assets     4.11 %     4.16 %     -0.05 %   -1.2 %
Quarterly Net Charge-offs/Avg. Loans     0.13 %     0.12 %     0.01 %   8.3 %
Weighted avg. shares Outstanding                              
    Basic     2,039       2,063       -24     -1.2 %
    Diluted     2,065       2,083       -18     -0.9 %
                                   
AVERAGE BALANCE SHEET DATA                              
Total Assets   $ 849,384     $ 812,252     $ 37,132     4.6 %
Earning assets   $ 775,458     $ 745,806     $ 29,652     4.0 %
Loans   $ 654,336     $ 628,673     $ 25,663     4.1 %
Interest-bearing deposits   $ 533,117     $ 517,731     $ 15,386     3.0 %
Total deposits   $ 632,001     $ 601,532     $ 30,469     5.1 %
Total stockholders' equity   $ 86,694     $ 81,536     $ 5,158     6.3 %
                               
(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   $ 86,694     $ 81,536     $ 5,158     6.3 %
Less average goodwill and other intangible assets, net of related income taxes     3,658       3,665       (7 )   -0.2 %
Average Tangible Equity     83,036       77,871       5,165     6.6 %
                               
Net Income     4,631       3,480       1,151     33.1 %
Plus Amortization of core deposit intangibles, net of related income taxes     2       6       (4 )   -66.6 %
Net Income, as adjusted   $ 4,633     $ 3,486     $ 1,147     32.9 %
                               
                               
   
TECHE HOLDING COMPANY  
(Dollars in thousands, except per share data)  
New Iberia, LA  
Balance Sheet  
(UNAUDITED)  
   
    Mar. 2013     Dec. 2012     Sep. 2012     Jun. 2012     Mar. 2012  
SmartGrowth Loans                                        
    Consumer   $ 115,803     $ 113,365     $ 110,235     $ 109,287     $ 106,596  
    Commercial     212,359       220,463       215,212       216,929       208,579  
    Home Equity     42,107       42,546       43,233       44,513       46,486  
    SmartMortgage Loans     104,040       100,859       111,072       106,532       102,228  
Total SmartGrowth Loans     474,309       477,233       479,752       477,261       463,889  
  Mortgage Loans (owner occupied conforming)     168,989       165,364       194,650       183,274       177,566  
      643,298       642,597       674,402       660,535       641,455  
Allowance for Loan Losses     (8,135 )     (8,234 )     (8,559 )     (8,411 )     (8,450 )
Loans Receivable, Net     635,163       634,363       665,843       652,124       633,005  
                                         
Cash and Securities     162,262       142,406       124,080       129,750       136,841  
Goodwill and Other Intangibles     3,656       3,657       3,659       3,661       3,664  
Foreclosed Real Estate     639       697       513       625       397  
Other     58,609       58,575       57,867       57,608       55,799  
TOTAL ASSETS   $ 860,329     $ 839,698     $ 851,962     $ 843,768     $ 829,706  
                                         
SmartGrowth Deposits                                        
    Checking   $ 259,014     $ 230,845     $ 220,268     $ 218,717     $ 223,228  
    Money Market     52,077       54,955       55,251       52,478       54,817  
    Savings     210,636       204,241       198,667       198,042       194,919  
Total Smart Growth Deposits     521,727       490,041       474,186       469,237       472,964  
Time Deposits     138,728       140,598       143,536       146,227       157,547  
Total Deposits     660,455       630,639       617,722       615,464       630,511  
                                         
FHLB Advances     107,903       117,034       142,751       139,955       110,344  
Other Liabilities     5,340       7,258       7,948       6,669       6,682  
Stockholders' Equity     86,631       84,767       83,541       81,680       82,169  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY   $ 860,329     $ 839,698     $ 851,962     $ 843,768     $ 829,706  
                                         
Ratio of Equity to Assets     10.07 %     10.09 %     9.81 %     9.68 %     9.90 %
Tangible Equity Ratio     9.69 %     9.70 %     9.42 %     9.29 %     9.50 %
Total Risk-Based Capital Ratio     14.38 %     14.34 %     14.09 %     13.79 %     14.12 %
Book Value per Common Share   $ 42.40     $ 41.65     $ 41.09     $ 40.32     $ 39.68  
Tangible Book Value Per Common Share (1)   $ 40.62     $ 39.86     $ 39.29     $ 38.51     $ 37.91  
Shares Outstanding (in thousands)     2,043       2,035       2,033       2,026       2,071  
Non-performing Assets/Total Assets     0.68 %     1.20 %     1.28 %     1.34 %     1.43 %
ALLL/Loans     1.26 %     1.28 %     1.27 %     1.27 %     1.32 %
ALLL/NPLs     158.54 %     87.76 %     82.52 %     79.63 %     74.02 %
                                         
(1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense on a tax affected basis. The amount was calculated using the following information.
                                         
Stockholders' Equity   $ 86,631     $ 84,767     $ 83,541     $ 81,680     $ 82,169  
Less goodwill and other Intangible assets, net of related income taxes     (3,654 )     (3,656 )     (3,655 )     (3,658 )     (3,654 )
Tangible Stockholders' Equity   $ 82,977     $ 81,111     $ 79,886     $ 78,022     $ 78,515  
                                         
Total Assets   $ 860,329     $ 839,698     $ 851,962     $ 843,768     $ 829,706  
Less goodwill and other Intangible assets, net of related income taxes     (3,654 )     (3,656 )     (3,655 )     (3,658 )     (3,654 )
Total Tangible Assets   $ 856,675     $ 836,042     $ 848,307     $ 840,110     $ 826,052  
                                         
                                         
                           
Quarter-End Loan Data   Total   Net Charge-     Net Charge-     90 Days +   90 Days +  
March 31, 2013   Loans   Offs     Offs     Non Accrual   Non Accrual  
(In 000's)   Dollars   Dollars     Percentage     Dollars   Percentage  
Real Estate Loans                                
  Construction   $ 14,902   $ --     0.00 %   $ --   0.0 %
  Permanent, Secured by:                                
    1-4 Dwelling Units:                                
      Revolving, Open-End Loans (HELOC)     21,431     15     0.07 %     28   0.1 %
      All Other                                
        Secured by First Liens   $ 356,098     183     0.05 %   $ 2,831   0.8 %
        Secured by Junior Liens     6,625     --     0.00 %     --   0.0 %
    Multifamily (5+ Dwelling Units)     19,848     --     0.00 %     911   4.6 %
    Nonresidential Property (Except Land)     103,626     (15 )   (0.01 %)     347   0.3 %
    Land     30,000     34     0.11 %     820   2.7 %
        Consumer     20,125     14     0.07 %     96   0.5 %
        Commercial     9,875     20     0.20 %     724   7.3 %
Subtotal - Real Estate Loans   $ 552,530     217     0.04 %   $ 4,937   0.9 %
                                 
Non-Real Estate Loans:                                
  Commercial Loans   $ 29,942   $ --     0.00 %   $ 14   0.0 %
  Consumer Loans:                                
      Loans on Deposits     3,416     1     0.03 %     25   0.7 %
      Auto Loans     2,459     --     0.00 %     5   0.2 %
      Mobile Home Loans     38,626     124     0.32 %     225   0.6 %
      Other     16,325     7     0.04 %     123   0.8 %
Subtotal - Non Real Estate Loans   $ 90,768     131     0.14 %   $ 392   0.4 %
                                 
Gross Loans   $ 643,298   $ 349     0.05 %   $ 5,329   0.8 %
                                 
Non-accruals   $ 4,994                          
90 + Days Past Due     335                          
OREO & Foreclosed     723                          
    Nonperforming Assets (Net)   $ 6,052                          
    Performing TDRs     --                          
                                 
                                 
                         
Quarter-End Loan Data   Total   Net Charge-   Net Charge-     90 Days +   90 Days +  
December 31, 2012   Loans   Offs   Offs     Non Accrual   Non Accrual  
(In 000's)   Dollars   Dollars   Percentage     Dollars   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   03/31/
2013
  03/31/
2013
    12/31/
2012
  12/31/
2012
    Change     Change  
Balances & Yields (In 000's)   Balance   Yield     Balance   Yield     Balance     Yield  
Real Estate Loans                                      
  1-4 Family   $ 393,736   4.77 %   $ 416,485   4.84 %   $ (22,749 )   -0.07 %
  Commercial     135,064   4.95 %     136,251   5.25 %     (1,187 )   -0.30 %
      528,800   4.81 %     552,736   4.94 %     (23,936 )   -0.13 %
                                       
Non-Real Estate Loans                                      
  Commercial   $ 31,782   5.05 %   $ 35,093   5.41 %   $ (3,311 )   -0.36 %
  Consumer     80,610   8.95 %     79,362   9.05 %     1,248     -0.10 %
      112,392   7.85 %     114,455   7.93 %     (2,063 )   -0.08 %
                                       
Total All Loans   $ 641,192   5.34 %   $ 667,191   5.45 %   $ (25,999 )   -0.11 %
                                       
                                       
Prior Year Comparison   03/31/
2013
  03/31/
2013
    03/31/
2012
  03/31/
2012
    Change     Change  
Average Loan Balances & Yields(In 000's)   Balance   Yield     Balance   Yield     Balance     Yield  
Real Estate Loans                                      
  1-4 Family   $ 393,736   4.77 %   $ 396,005   5.19 %   $ (2,269 )   -0.42 %
  Commercial     135,064   4.95 %     137,203   5.54 %     (2,139 )   -0.59 %
      528,800   4.81 %     533,208   5.28 %     (4,408 )   -0.47 %
                                       
Non-Real Estate Loans                                      
  Commercial   $ 31,782   5.05 %   $ 26,721   5.77 %   $ 5,061     -0.72 %
  Consumer     80,610   8.95 %     76,427   9.16 %     4,183     -0.21 %
      112,392   7.85 %     103,148   8.28 %     9,244     -0.43 %
                                       
Total All Loans   $ 641,192   5.34 %   $ 636,356   5.76 %   $ 4,836     -0.42 %
                                       
                                       
Loans: Linked Quarter Comparison                                

Average Loan
  12/31/
2012
  12/31/
2012
    09/30/
2012
  09/30/
2012
    Change     Change  
Balances & Yields (In 000's)   Balance   Yield     Balance   Yield     Balance     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   12/31/
2012
  12/31/
2012
    12/31/
2011
  12/31/
2011
    Change     Change  
Average Loan Balances & Yields(In 000's)   Balance   Yield     Balance   Yield     Balance     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   09/30/
2012
  09/30/
2012
    09/30/
2011
  09/30/
2011
    Change     Change  
Balances & Yields (In 000's)   Balance   Yield     Balance   Yield     Balance     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   03/31/
2013
  03/31/
2013
    12/31/
2012
  12/31/
2012
    Change     Change     %Balance  
(In 000's)   $Balance   Avg. Yield     $Balance   Avg. Yield     $Balance     Avg. Yield     Change  
  NOW Accounts   $ 138,875   0.18 %   $ 128,492   0.22 %   $ 10,383     -0.04 %   8.1 %
  Non-interest bearing Deposits     101,615   0.00 %     96,213   0.00 %     5,402     -0.00 %   5.6 %
    Checking Total   $ 240,490   0.10 %   $ 224,705   0.12 %   $ 15,785     -0.02 %   7.0 %
                                             
  Savings Accounts   $ 207,972   0.23 %   $ 203,181   0.33 %   $ 4,791     -0.10 %   2.4 %
  Money Market Accounts     52,370   0.11 %     54,445   0.15 %     (2,075 )   -0.04 %   -3.8 %
                                             
  Total Smart Growth Deposits   $ 500,832   0.16 %   $ 482,331   0.21 %   $ 18,501     -0.05 %   3.8 %
                                             
  Time Deposits   $ 139,672   1.50 %   $ 141,358   1.62 %   $ (1,686 )   -0.12 %   -1.2 %
                                             
  Total Deposits   $ 640,504   0.45 %   $ 623,689   0.53 %   $ 16,815     -0.08 %   2.7 %
                                             
  FHLB Advances   $ 114,063   3.43 %   $ 131,845   3.04 %   $ (17,782 )   0.39 %   -13.5 %
                                             
Total Interest-bearing liabilities   $ 652,952   1.04 %   $ 659,321   1.11 %   $ (6,369 )   -0.07 %   -1.0 %
                                             
Non-interest bearing Deposits   $ 101,615   0.00 %   $ 96,213   0.00 %   $ 5,402     0.00 %   5.6 %
                                             
                                             
Interest-bearing Liabilities: Prior Year Comparison  
   
Average balances   03/31/
2013
  03/31/
2013
    03/31/
2012
  03/31/
2012
    Change     Change     %Balance  
(In 000's)   $Balance   Avg. Yield     $Balance   Avg. Yield     $Balance     Avg. Yield     Change  
  NOW Accounts   $ 138,875   0.18 %   $ 119,544   0.19 %   $ 19,331     -.0.01 %   16.2 %
  Non-interest bearing Deposits     101,615   0.00 %     86,358   0.00 %     15,257     0.00 %   17.7 %
    Checking Total   $ 240,490   0.10 %   $ 205,902   0.11 %   $ 34,588     -0.01 %   16.8 %
                                             
  Savings Accounts   $ 207,972   0.23 %   $ 190,365   0.32 %   $ 17,607     -0.09 %   9.2 %
  Money Market Accounts     52,370   0.11 %     53,727   0.25 %     (1,357 )   -0.14 %   -2.5 %
                                             
  Total Smart Growth Deposits   $ 500,832   0.16 %   $ 449,994   0.22 %   $ 50,838     -0.06 %   11.3 %
                                             
  Time Deposits   $ 139,672   1.50 %   $ 158,784   2.16 %   $ (19,112 )   -0.66 %   -12.0 %
                                             
Total Deposits   $ 640,504   0.45 %   $ 608,778   0.72 %   $ 31,726     -0.27 %   5.2 %
                                             
  FHLB Advances   $ 114,063   3.43 %   $ 123,665   3.28 %   $ (9,602 )   0.15 %   -7.8 %
                                             
Total Interest-bearing liabilities   $ 652,952   1.04 %   $ 646,085   1.31 %   $ 6,867     -0.27 %   1.1 %
                                             
Non-interest bearing Deposits   $ 101,615   0.00 %   $ 86,358   0.00 %   $ 15,257     0.00 %   17.7 %
                                             
                                             
   
Interest-bearing Liabilities: Linked Quarter Comparison  
   
Average balances   12/31/
2012
  12/31/
2012
    9/30/
2012
  9/30/
2012
    Change     Change     %Balance  
(In 000's)   $Balance   Avg. Yield     $Balance   Avg. Yield     $Balance     Avg. Yield     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   12/31/
2012
  12/31/
2012
    12/31/
2011
  12/31/
2011
    Change     Change     %Balance  
(In 000's)   $Balance   Avg. Yield     $Balance   Avg. Yield     $Balance     Avg. Yield     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   09/30/
2012
  09/30/
2012
    06/30/
2012
  06/30/
2012
    Change     Change     %Balance  
(In 000's)   $Balance   Avg. Yield     $Balance   Avg. Yield     $Balance     Avg. Yield     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   09/30/
2012
  09/30/
2012
    09/30/
2011
  09/30/
2011
    Change     Change     %Balance  
(In 000's)   $Balance   Avg. Yield     $Balance   Avg. Yield     $Balance     Avg. Yield     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.