Teche Reported 13.9% Higher EPS in Second Quarter 2012 Compared to Second Quarter 2011; Solid Earnings Trend Continues
NEW IBERIA, LA -- (Marketwire) -- 04/23/12 -- (NYSE Amex: TSH) -- Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended March 31, 2012, the second quarter of fiscal year 2012.
Earnings for the quarter ended March 31, 2012 amounted to $1.7 million or $0.82 per diluted share, compared to $1.5 million or $0.72 per diluted share for the same quarter in fiscal 2011, an increase of $0.10 per diluted share, or 13.9%.
"Earnings for the six month period ended March 31, 2012 amounted to $3.5 million, or $1.67 per diluted share, compared to $3.3 million or $1.59 per diluted share, for the same period in fiscal 2011, an increase of $0.08 per diluted share, or 5.0%. "We have posted record earnings for the past three fiscal years," said Little. "At the halfway point this year, we are ahead of last year."
As a result of our outstanding results over the past three years, we were recently named to Keefe, Bruyette and Wood's (KBW) prestigious 2012 "Bank Honor Roll" for a second consecutive year and Bank Director Magazine's "Nifty 50" rankings.
The Company reported the following points of interest:
- Average earning assets increased 2.1% or $15.9 million to $754.0 million as compared to the linked quarter and 8.7% or $60.2 million as compared to the same quarter a year ago.
- Total loans increased 1.4% or $8.8 million to $641.5 million at March 31, 2012 as compared to the linked quarter and 9.1% or $53.3 million as compared to a year ago.
- Net charge offs for the quarter amounted to 0.08% of average loans.
- SmartGrowth Deposits increased 7.7% over the linked quarter and 7.8% compared to a year ago. SmartGrowth Deposits amounted to 75.0% of total deposits, compared to 73.3% at December 31, 2011 and 71.8% a year ago.
- Checking Account Balances increased 12.2% compared to the linked quarter and 15.5% compared to March 31, 2011.
- The average rate paid on all deposits was 0.72% for the quarter compared to 0.76% for the linked quarter and 0.94% a year ago.
- Quarterly operating revenue remained stable at $11.6 million, as compared to the previous four quarters.
- Tangible book value per share increased to $37.91, an increase of 1.2% or $0.44 for the linked quarter and 6.9% or $2.44 year-over-year.
Capital
Over the past twelve months, stockholders' equity increased 5.9% to a record $82.2 million while assets increased 6.1% to a record $829.7 million. The tangible equity ratio at March 31, 2012 has increased to 9.50% compared to 9.49% a year ago. Tangible book value per common share has increased to a record $37.91, an increase of 6.9% compared to a year ago. Risk based capital increased to 14.12% compared to 13.94% a year ago; and the equity to asset ratio decreased to 9.90% from 9.92% a year ago.
Over the past twelve month period, total assets increased 6.1% or $47.6 million to $829.7 million.
"While we are extremely pleased that we have been able to post record earnings for three consecutive years, we also have been mindful of the possibility that interest rates could rise in the future," said Little. "To help prepare for that, we currently maintain an asset sensitive position, primarily due to our SmartGrowth Deposits, our Consumer & Commercial Loan portfolios, our long-term advances and the long-term nature of our time deposits."
------------------------------- ------- ------- ------- ------- ------- QUARTERLY COMPARISON Mar '12 Dec '11 Sep '11 Jun '11 Mar '11 ------------------------------- ------- ------- ------- ------- ------- Stockholders' Equity (in millions) $ 82.2 $ 81.1 $ 80.0 $ 78.6 $ 77.6 Ratio of Equity to Assets 9.90% 9.97% 10.08% 9.96% 9.92% Tangible Equity Ratio 9.50% 9.56% 9.67% 9.54% 9.49% Total Risk-Based Capital Ratio 14.12% 14.09% 14.30% 14.26% 13.94% Book Value per Common Share $ 39.68 $ 39.24 $ 38.79 $ 37.87 $ 37.23 Tangible Book Value Per Common Share $ 37.91 $ 37.47 $ 37.02 $ 36.11 $ 35.47 Total Assets (in millions) $ 829.7 $ 813.5 $ 793.2 $ 789.0 $ 782.2
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' 12 Dec '11 Sep '11 Jun '11 Mar '11 ------------------------------- ------- ------- ------- ------- ------- Net Charge-offs/Average Loans 0.08% 0.05% 0.09% 0.57% 0.09% ALLL*/NPLs 74.02% 71.25% 76.63% 69.94% 68.32% ALLL*/NPAs 71.40% 65.30% 67.67% 56.45% 60.29% ALLL*/Loans 1.32% 1.33% 1.37% 1.39% 1.78% NPAs/Assets 1.43% 1.53% 1.55% 1.82% 2.22%
*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) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11 ------------------------------------ ------- ------- ------- ------- ------- Beginning ALLL $ 8,392 $ 8,331 $ 8,123 $10,452 $ 9,953 Provision for Loan Losses 550 350 750 1,000 1,000 Net Charge-offs 492 289 542 3,329 501 Ending ALLL $ 8,450 $ 8,392 $ 8,331 $ 8,123 $10,452 Ending ALLL (net of specific reserves) $ 8,246 $ 8,142 $ 7,783 $ 8,075 $ 7,455
The allowance for loan losses was 1.32% of total loans, or $8.5 million, at March 31, 2012 compared to 1.33% of total loans, or $8.4 million at December 31, 2011 and 1.78% of total loans, or $10.5 million at March 31, 2011.
Net charge-offs for the quarter were $0.5 million, or 0.08% of average loans, compared to $0.5 million or 0.09% of average loans for the same period a year ago. For the twelve months ended March 31, 2012, net charge offs were $4.7 million or 0.76% of average loans, compared to $1.8 million or 0.29% of loans for the twelve months ended March 31, 2011. The increase in our net charge-offs for twelve month period over the prior period, was due to the charge off of specific reserves on impaired loans which we previously held in reserve as was accepted practice under our previous regulator.
Non-performing assets decreased to $11.8 million, or 1.43% of total assets at March 31, 2012, compared to $12.4 million, or 1.53% of total assets at December 31, 2011 and $17.3 million, or 2.22% of total assets a year ago, primarily due to sales of real estate owned during the quarter.
------------------------------------ ------- ------- ------- ------- -------
Net Interest Income
QUARTERLY COMPARISON (In 000's) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11
------------------------------------ ------- ------- ------- ------- -------
Interest Income $ 9,807 $ 9,766 $ 9,861 $ 9,758 $ 9,736
Interest Expense 2,111 2,080 2,078 2,185 2,363
------- ------- ------- ------- -------
Net Interest Income $ 7,696 $ 7,686 $ 7,783 $ 7,573 $ 7,373
======= ======= ======= ======= =======
Interest income increased slightly compared to the linked quarter primarily due to growth in loan balances offset somewhat by reduced yields on loans. Interest expense increased slightly compared to the linked quarter.
------------------------------- ------- ------- ------- ------- ------- Net Interest Margin and Spread QUARTERLY COMPARISON Mar '12 Dec '11 Sep '11 Jun '11 Mar '11 ------------------------------- ------- ------- ------- ------- ------- Yield on Earning Assets 5.20% 5.30% 5.48% 5.46% 5.61% Cost of Interest Bearing Liabilities 1.31% 1.31% 1.36% 1.43% 1.57% Spread 3.90% 3.99% 4.13% 4.03% 4.04% Net Interest Margin 4.08% 4.17% 4.33% 4.24% 4.25%
Net interest margin amounted to 4.08% for the three-month period ended March 31, 2012 compared to 4.25% for the three-months ended March 31, 2011. The decrease was primarily due to lower rates on interest earning assets offset somewhat by lower rates on interest bearing liabilities.
Spread amounted to 3.90% for the three month period ended March 31, 2012, compared to 4.04% for the same period in the previous year. Compared to the same quarter last year, average yield on earnings assets decreased 41 basis points from 5.61% to 5.20%, while the average cost of funds decreased 26 basis points from 1.57% to 1.31%.
Operating Revenue
Operating revenue for the quarter, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $11.6 million, which was $0.4 million higher than 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) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11
------------------------------------ ------- ------- ------- ------- -------
Net Interest Income $ 7.7 $ 7.7 $ 7.8 $ 7.6 $ 7.4
Non Interest Income 3.9 3.8 3.8 3.9 3.8
------- ------- ------- ------- -------
Operating Revenue $ 11.6 $ 11.5 $ 11.6 $ 11.5 $ 11.2
======= ======= ======= ======= =======
Non-Interest Income
Non-interest income remained stable at $3.9 million compared to $3.8 million in the linked quarter and $3.8 million for the same quarter in 2011. Non-interest income amounted to 1.89% of average assets for the quarter, compared to 1.88% for the linked quarter and 2.03% a year ago.
------------------------------- ------- ------- ------- ------- ------- Non-Interest Income & Expense QUARTERLY COMPARISON (in thousands) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11 ------------------------------- ------- ------- ------- ------- ------- Interchange fee Income $ 843 $ 778 $ 830 $ 881 $ 820 Other Non-Interest Income $ 3,038 $ 2,990 $ 2,994 $ 3,009 $ 3,030 Total Non-Interest Income $ 3,881 $ 3,768 $ 3,824 $ 3890 $ 3,850 Total Non-Interest Income/Avg. Assets 1.89% 1.88% 1.94% 1.99% 2.03% Non-Interest Expense $ 8,445 $ 8,447 $ 7,855 $ 7,777 $ 7,918 Non-Interest Expense/Avg. Assets 4.11% 4.21% 3.99% 3.99% 4.17%
Non-Interest Expense
For the quarter, non-interest expense was $8.4 million or 4.11% of average assets, compared to the linked quarter of $8.4 million or 4.21% of average assets with the decrease primarily due to a growth in assets. Compared to the same quarter in fiscal 2011, non-interest expense increased by $0.5 million from $7.9 million to $8.4 million, an increase of 6.7% primarily due to increases in compensation, marketing, data processing and expenses related to adjustments in values of foreclosed assets.
Net Income and Dividends
On February 23, 2012, the board of directors declared a $0.365 per share quarterly dividend, its sixty-seventh consecutive. Based on the closing price of the Company's common stock of $37.42 on that date, the annualized dividend yield was 3.9%. Since 2003, the Company has increased dividends for nine consecutive years.
----------------------------------- ------- ------- ------- ------- -------- QUARTERLY COMPARISON (In 000's) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11 ----------------------------------- ------- ------- ------- ------- -------- Dividends Declared Per Share $ 0.365 $ 0.36 $ 0.36 $ 0.36 $ 0.36 Basic Earnings Per Common Share $ 0.83 $ 0.86 $ 1.02 $ 0.86 $ 0.73 Diluted Earnings Per Common Share $ 0.82 $ 0.85 $ 1.01 $ 0.85 $ 0.72
Loans
------------------------------------ ------- ------- ------- ------- -------
QUARTERLY COMPARISON (In 000,000's) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11
------------------------------------ ------- ------- ------- ------- -------
SmartGrowth Loans
Consumer $ 106.6 $ 107.4 $ 108.8 $ 109.5 $ 109.1
Commercial 208.6 213.6 209.5 201.3 207.5
Home Equity 46.5 47.3 48.8 51.3 51.0
SmartMortgages 102.2 98.2 92.9 88.0 88.8
------- ------- ------- ------- -------
Total SmartGrowth Loans $ 463.9 $ 466.5 $ 460.0 $ 450.1 $ 456.4
Mortgage Loans (owner occupied
conforming) 177.6 166.1 148.6 133.3 131.7
------- ------- ------- ------- -------
Total Loans $ 641.5 $ 632.6 $ 608.6 $ 583.4 $ 588.2
Linked Quarter Comparison. Gross loans receivable increased to $641.5 million at March 31, 2012, from $632.6 million at December 31, 2011, an increase of $8.9 million, or 1.4% due primarily to increases in 15-year one-to-four family mortgage loans and adjustable rate mortgage loans offset somewhat by reductions in consumer, commercial, and home equity loans. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans and consumer loans, were $463.9 million, or 72.3% of total loans at March 31, 2012, compared to $466.5 million, or 73.7% at December 31, 2011, a three month decrease of $2.6 million, or 0.6%.
Commercial loan balances at March 31, 2012 amounted to $208.6 million, compared to $213.6 million at December 31, 2011, a three month decrease of $5.0 million or 2.4%. Consumer loan balances at March 31, 2012 amounted to $106.6 million, compared to $107.4 million at December 31, 2011, a linked quarter decrease of $0.8 million, or 0.7%.
One Year Comparison. Gross loans receivable increased to $641.5 million at March 31, 2012 from $588.2 million at March 31, 2011 a twelve month increase of $53.3 million, or 9.1%. SmartGrowth Loans increased to $463.9 million at March 31, 2012, from $456.5 million at March 31, 2011, a twelve month increase of $7.4 million, or 1.6%.
Commercial loan balances at March 31, 2012 amounted to $208.6 million, compared to $207.5 million at March 31, 2011 a twelve month increase of $1.1 million, or 0.5%. Consumer loan balances at March 31, 2012 amounted to $106.6 million, compared to $109.1 million at March 31, 2011 a twelve month decrease of $2.5 million, or 2.3%.
Deposits
----------------------------------- ------- ------- ------- ------- --------
QUARTERLY COMPARISON (In 000,000's) Mar '12 Dec '11 Sep '11 Jun '11 Mar '11
----------------------------------- ------- ------- ------- ------- --------
SmartGrowth Deposits
Checking $ 223.3 $ 199.0 $ 190.8 $ 209.1 $ 193.3
Money Market 54.8 52.0 55.0 55.3 56.6
Savings 194.9 188.3 190.7 191.6 188.8
------- ------- ------- ------- --------
Total SmartGrowth Deposits $ 473.0 $ 439.3 $ 436.5 $ 456.0 $ 438.7
Time Deposits 157.5 160.0 162.1 169.4 172.2
------- ------- ------- ------- --------
Total Deposits $ 630.5 $ 599.3 $ 598.6 $ 625.3 $ 610.9
Linked Quarter Comparison. Total deposits increased to $630.5 million at March 31, 2012, from $599.3 million at December 31, 2011, a linked quarter increase of $31.2 million or 5.2%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts increased $33.7 million to $473.0 million or 7.7% at March 31, 2012, from $439.3 million at December 31, 2011.
Checking account balances at March 31, 2012 increased $24.3 million, or 12.2%, to $223.3 million from $199.0 million at December 31, 2011.
One Year Comparison. Total deposits increased to $630.5 million at March 31, 2012, from $610.9 million at March 31, 2011, a twelve month increase of $19.6 million, or 3.2%. Total SmartGrowth Deposits increased $34.3 million, or 7.8% from $438.7 million at March 31, 2011 to $473.0 million at March 31, 2012.
SmartGrowth Deposits amounted to 75.0% of total deposits as of March 31, 2012 compared to 71.8% at March 31, 2011.
Checking account balances have increased 15.5%, or $30.0 million, in the past twelve months from $193.3 million at March 31, 2011 to $223.3 million at March 31, 2012. Checking account balances at March 31, 2012 accounted for 35.4% of total deposits compared to 31.6% of total deposits at March 31, 2011.
Teche Holding Company is the parent company of Teche Federal Bank, which operates nineteen offices in South Louisiana and serves over 60,000 customers. Teche Federal Bank is the fourth largest publicly owned bank based in Louisiana with over $829 million in assets. Deposits at Teche Federal Bank are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (FDIC). Teche Holding Company's common stock is traded under the symbol "TSH" on the NYSE AMEX.
Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Teche Holding Company with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Statements of Income
(UNAUDITED)
THREE MONTHS ENDED
------------------------------------------------
Condensed Statements of Mar. Dec. Sep. Jun. Mar.
Income 2012 2011 2011 2011 2011
-------- -------- -------- -------- --------
Interest Income $ 9,807 $ 9,766 $ 9,861 $ 9,758 $ 9,736
Interest Expense 2,111 2,080 2,078 2,185 2,363
-------- -------- -------- -------- --------
Net Interest Income 7,696 7,686 7,783 7,573 7,373
Provision for Loan Losses 550 350 750 1,000 1,000
-------- -------- -------- -------- --------
Net Interest Income after
Provision for Loan
Losses 7,146 7,336 7,033 6,573 6,373
Non Interest Income 3,881 3,768 3,824 3,890 3,850
Non Interest Expense 8,445 8,447 7,855 7,777 7,918
-------- -------- -------- -------- --------
Income Before Income Taxes 2,582 2,657 3,002 2,686 2,305
Income Taxes 874 885 900 896 792
-------- -------- -------- -------- --------
Net Income $ 1,708 $ 1,772 $ 2,102 $ 1,790 $ 1,513
======== ======== ======== ======== ========
Selected Financial Data
-------- -------- -------- -------- --------
Dividends Declared Per
Share $ 0.365 $ 0.36 $ 0.36 $ 0.36 $ 0.36
Basic Earnings Per Common
Share $ 0.83 $ 0.86 $ 1.02 $ 0.86 $ 0.73
Diluted Earnings Per
Common Share $ 0.82 $ 0.85 $ 1.01 $ 0.85 $ 0.72
Annualized Return on Avg.
Assets 0.83% 0.88% 1.07% 0.92% 0.80%
Annualized Return on Avg.
Equity 8.22% 8.86% 10.40% 8.96% 7.74%
Annualized Return on Avg.
Tangible Equity (1) 8.61% 9.30% 10.90% 9.40% 8.13%
Yield on Interest Earning
Assets 5.20% 5.30% 5.48% 5.46% 5.61%
Cost of Interest Bearing
Liabilities 1.31% 1.31% 1.36% 1.43% 1.57%
Spread 3.90% 3.99% 4.13% 4.03% 4.04%
Net Interest Margin 4.08% 4.17% 4.33% 4.24% 4.25%
Non-Interest Income/Avg.
Assets 1.89% 1.88% 1.94% 1.99% 2.03%
Non-Interest Expense/Avg.
Assets 4.11% 4.21% 3.99% 3.99% 4.17%
Quarterly Net Charge-
offs/Avg. Loans 0.08% 0.05% 0.09% 0.57% 0.09%
Weighted avg. shares
Outstanding
Basic 2,067 2,059 2,064 2,073 2,072
Diluted 2,088 2,078 2,085 2,097 2,098
AVERAGE BALANCE SHEET DATA
-------- -------- -------- -------- --------
Total Assets $821,582 $803,024 $787,782 $780,213 $759,993
Earning assets $753,980 $738,111 $719,384 $714,528 $693,747
Loans $636,356 $621,073 $591,736 $586,420 $589,879
Interest-bearing deposits $522,420 $513,104 $520,489 $529,664 $514,771
Total deposits $608,777 $594,376 $607,949 $613,778 $590,664
Total stockholders' equity $ 83,095 $ 79,993 $ 80,857 $ 79,942 $ 78,197
(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 $ 83,095 $ 79,993 $ 80,857 $ 79,942 $ 78,197
Less average goodwill and
other intangible assets,
net of related income
taxes 3,665 3,667 3,671 3,671 3,667
Average Tangible Equity $ 79,430 $ 76,326 $ 77,186 $ 76,271 $ 74,530
======== ======== ======== ======== ========
Net Income 1,708 1,772 2,102 1,790 1,513
Plus Amortization of core
deposit intangibles, net
of related income taxes 2 2 2 3 2
-------- -------- -------- -------- --------
Net Income, as adjusted $ 1,710 $ 1,774 $ 2,104 $ 1,793 $ 1,515
======== ======== ======== ======== ========
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.
2012 2011 $Change %Change
-------- -------- -------- -------
Interest Income $ 19,573 $ 19,739 $ (166) -0.8%
Interest Expense 4,191 4,905 (714) -14.6%
-------- -------- -------- -------
Net Interest Income 15,382 14,834 548 3.7%
Provision for Loan Losses 900 2,150 (1,250) -58.1%
-------- -------- -------- -------
Net Interest Income after
Provision for Loan Losses 14,482 12,684 1,798 14.2%
Non Interest Income 7,649 7,831 (181) -2.3%
Non Interest Expense 16,892 15,500 1,392 9.0%
-------- -------- -------- -------
Income Before Income Taxes 5,239 5,015 225 4.5%
Income Taxes 1,759 1,678 82 4.9%
-------- -------- -------- -------
Net Income $ 3,480 $ 3,337 $ 143 4.3%
======== ======== ======== =======
Selected Financial Data
-------- -------- -------- -------
Dividends Declared Per Share $ 0.725 $ 0.72 $ 0.005 0.7%
Basic Earnings Per Common Share 1.69 1.61 0.08 5.0%
Diluted Earnings Per Common Share 1.67 1.59 0.08 5.0%
Annualized Return on Avg. Assets 0.86% 0.88% -0.02% -2.2%
Annualized Return on Avg. Equity 8.54% 8.55% -0.01% -0.1%
Annualized Return on Avg.
Tangible Equity (1) 8.94% 8.99% -0.05% -0.6%
Yield on Interest Earning Assets 5.25% 5.68% -0.43% -7.6%
Cost of Interest Bearing Liabilities 1.31% 1.63% -0.32% -19.6%
Spread 3.94% 4.05% -0.11% -2.7%
Net Interest Margin 4.12% 4.27% 0.15% -3.5%
Non-Interest Income/Avg. Assets 1.88% 2.06% -0.18% -8.7%
Non-Interest Expense/Avg. Assets 4.16% 4.08% 0.08% 2.0%
Quarterly Net Charge-offs/Avg. Loans 0.12% 0.16% -0.04% -25.0%
Weighted avg. shares Outstanding
Basic 2,063 2,070 (7) -0.3%
Diluted 2,083 2,093 (10) -0.5%
AVERAGE BALANCE SHEET DATA
-------- -------- -------- -------
Total Assets $812,252 $759,920 $ 52,332 6.9%
Earning assets $745,806 $695,040 $ 50,766 7.3%
Loans $628,673 $592,745 $ 35,928) 6.1%
Interest-bearing deposits $517,731 $510,787 $ 6,944 1.4%
Total deposits $601,532 $585,225 $ 16,307 2.8%
Total stockholders' equity $ 81,536 $ 78,053 $ 3,483 4.5%
(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 $ 81,536 $ 78,053 $ 3,483 4.5%
Less average goodwill and other
intangible assets, net of related
income taxes 3,665 3,677 (12) -0.3%
Average Tangible Equity 77,871 74,376 3,495 4.7%
======== ======== ======== =======
Net Income 3,480 3,337 143 4.3%
Plus Amortization of core deposit
intangibles, net of related income
taxes 6 6 0 0.0%
-------- -------- -------- -------
Net Income, as adjusted $ 3,486 $ 3,343 $ 143 4.3%
======== ======== ======== =======
TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Balance Sheet
(UNAUDITED)
(Dollars in Thousands Except Share Data)
Mar. Dec. Sep. Jun. Mar.
2012 2011 2011 2011 2011
-------- -------- -------- -------- --------
SmartGrowth Loans
Consumer $106,596 $107,399 $108,849 $109,476 $109,092
Commercial 208,579 213,659 209,460 201,324 207,509
Home Equity 46,486 47,261 48,799 51,293 51,045
SmartMortgage Loans 102,228 98,221 92,910 88,019 88,799
-------- -------- -------- -------- --------
Total SmartGrowth Loans 463,889 466,540 460,018 450,112 456,445
Mortgage Loans (owner
occupied conforming) 177,566 166,088 148,584 133,264 131,708
-------- -------- -------- -------- --------
641,455 632,628 608,602 583,376 588,153
Allowance for Loan Losses (8,450) (8,392) (8,331) (8,123) (10,452)
-------- -------- -------- -------- --------
Loans Receivable, Net 633,005 624,236 600,271 575,253 577,701
Cash and Securities 136,841 130,126 134,902 154,061 144,465
Goodwill and Other
Intangibles 3,664 3,667 3,670 3,673 3,678
Foreclosed Real Estate 397 1,012 1,405 2,694 2,039
Other 55,799 54,504 52,955 53,323 54,269
-------- -------- -------- -------- --------
TOTAL ASSETS $829,706 $813,545 $793,203 $789,004 $782,152
======== ======== ======== ======== ========
SmartGrowth Deposits
Checking $223,228 $199,021 $190,822 $209,080 $193,244
Money Market 54,817 52,019 54,970 55,280 56,618
Savings 194,919 188,303 190,727 191,586 188,819
-------- -------- -------- -------- --------
Total Smart Growth
Deposits 472,964 439,343 436,519 455,946 438,681
Time Deposits 157,547 159,968 162,063 169,377 172,211
-------- -------- -------- -------- --------
Total Deposits 630,511 599,311 598,582 625,323 610,892
FHLB Advances 110,344 127,621 108,184 79,533 83,585
Other Liabilities 6,682 5,501 6,450 5,567 10,097
Stockholders' Equity 82,169 81,112 79,987 78,581 77,578
-------- -------- -------- -------- --------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $829,706 $813,545 $793,203 $789,004 $782,152
======== ======== ======== ======== ========
Ratio of Equity to Assets 9.90% 9.97% 10.08% 9.96% 9.92%
Tangible Equity Ratio 9.50% 9.56% 9.67% 9.54% 9.49%
Total Risk-Based Capital
Ratio 14.12% 14.09% 14.30% 14.26% 13.94%
Book Value per Common
Share $ 39.68 $ 39.24 $ 38.79 $ 37.87 $ 37.23
Tangible Book Value Per
Common Share (1) $ 37.91 $ 37.47 $ 37.02 $ 36.11 $ 35.47
Shares Outstanding (in
thousands) 2,071 2,067 2,062 2,075 2,084
Non-performing
Assets/Total Assets 1.43% 1.53% 1.55% 1.82% 2.22%
ALLL/Loans 1.32% 1.33% 1.37% 1.39% 1.78%
ALLL/NPLs 74.02% 73.72% 76.63% 69.94% 68.32%
(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 $ 82,169 $ 81,112 $ 79,987 $ 78,581 $ 77,578
Less goodwill and other
Intangible assets, net of
related income taxes (3,654) (3,657) (3,659) (3,661) (3,664)
-------- -------- -------- -------- --------
Tangible Stockholders'
Equity $ 78,515 $ 77,455 $ 76,328 $ 74,920 $ 73,914
======== ======== ======== ======== ========
Total Assets $829,706 $813,545 $793,203 $789,004 $782,152
Less goodwill and other
Intangible assets, net of
related income taxes (3,654) (3,657) (3,659) (3,661) (3,664)
-------- -------- -------- -------- --------
Total Tangible Assets $826,052 $809,888 $789,544 $785,343 $778,488
======== ======== ======== ======== ========
90 Days
Net Net + 90 Days +
Total Charge- Charge- Non Non
Quarter-End Loan Data Loans Offs Offs Accrual Accrual
March 31, 2012 Dollars Dollars Percentage Dollars Percentage
------------------------- -------- -------- ---------- -------- ----------
Real Estate Loans
Construction $ 15,986 $ -- 0.00% $ 656 4.1%
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End
Loans (HELOC) $ 20,748 $ -- 0.00% $ 96 0.5%
All Other
Secured by First
Liens $360,057 $ 81 0.02% $ 4,105 1.1%
Secured by Junior
Liens 8,147 -- 0.00% -- 0.0%
Multifamily (5+
Dwelling Units) 21,767 99 0.45% 733 3.4%
Nonresidential
Property (Except
Land) 97,679 -- 0.00% 730 0.7%
Land 33,138 250 0.75% 4,409 13.3%
-------- -------- ---------- -------- ----------
Consumer 18,760 -- 0.00% 147 0.8%
-------- -------- ---------- -------- ----------
Commercial 14,378 250 1.74% 4,262 29.6%
-------- -------- ---------- -------- ----------
Subtotal - Real Estate
Loans $557,522 $ 430 0.08% $ 10,729 1.9%
-------- -------- ---------- -------- ----------
Non-Real Estate Loans:
Commercial Loans $ 26,773 $ -- 0.00% $ 165 0.6%
Consumer Loans:
Loans on Deposits 3,575 -- 0.00% 104 2.9%
Auto Loans 1,786 -- 0.00% 34 1.9%
Mobile Home Loans 36,864 50 0.14% 289 0.8%
Other 14,935 12 0.08% 95 0.6%
-------- -------- ---------- --------
Subtotal - Non Real
Estate Loans $ 83,933 $ 62 0.07% $ 687 0.8%
-------- -------- ---------- -------- ----------
Gross Loans $641,455 $ 492 0.08% $ 11,416 1.8%
======== ======== ========
Non-accruals $ 11,199
90 + Days Past Due 217
OREO & Foreclosed 419
--------
Nonperforming Assets
(Net) $ 11,835
========
Performing TDRs --
90 Days
Net Net + 90 Days +
Total Charge- Charge- Non Non
Quarter-End Loan Data Loans Offs Offs Accrual Accrual
December 31, 2011 Dollars Dollars Percentage Dollars Percentage
------------------------ -------- -------- ---------- -------- ----------
Real Estate Loans
Construction $ 18,657 $ -- 0.00% $ 763 4.1%
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-
End Loans (HELOC) 20,309 20 0.10% 75 0.4%
All Other
Secured by First
Liens $347,058 $ 167 0.05% $ 3,505 1.0%
Secured by
Junior Liens 8,492 -- 0.00% -- 0.0%
Multifamily (5+
Dwelling Units) 23,460 45 0.19% 843 3.6%
Nonresidential
Property (Except
Land) 95,233 -- 0.00% 337 0.4%
Land 34,641 -- 0.00% 4,759 13.7%
-------- -------- ---------- -------- ----------
Consumer 19,478 -- 0.00% 130 0.7%
-------- -------- ---------- -------- ----------
Commercial 15,163 -- 0.00% 4,629 30.5%
-------- -------- ---------- -------- ----------
Subtotal - Real Estate
Loans $547,850 $ 232 0.04% $ 10,282 1.9%
-------- -------- ---------- -------- ----------
Non-Real Estate Loans:
Commercial Loans $ 27,217 $ -- 0.00% $ -- 0.0%
Consumer Loans:
Loans on Deposits 3,667 -- 0.00% 39 1.1%
Auto Loans 1,898 -- 0.00% 22 1.2%
Mobile Home Loans 37,494 55 0.15% 534 1.4%
Other 14,502 2 0.01% 113 0.8%
-------- -------- ---------- --------
Subtotal - Non Real
Estate Loans $ 84,778 $ 57 0.07% $ 708 0.8%
-------- -------- ---------- -------- ----------
Gross Loans $632,628 $ 289 0.05% $ 10,990 1.7%
======== ======== ========
Non-accruals $ 10,835
90 + Days Past Due 549
OREO & Foreclosed 1,073
--------
Nonperforming Assets
(Net) $ 12,457
========
Performing TDRs --
90 Days
Net Net + 90 Days +
Total Charge- Charge- Non Non
Quarter-End Loan Data Loans Offs Offs Accrual Accrual
September 30, 2011 Dollars Dollars Percentage Dollars Percentage
-------- -------- ---------- -------- ----------
Real Estate Loans
Construction $ 20,046 $ -- 0.00% $ 1,021 5.1%
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-
End Loans (HELOC) 20,287 -- 0.00% 104 0.51%
All Other
Secured by First
Liens 326,027 25 0.01% 2,931 0.90%
Secured by
Junior Liens 9,032 60 0.66% 5 0.05%
Multifamily (5+
Dwelling Units) 23,747 -- 0.00% 863 3.63%
Nonresidential
Property (Except
Land) 87,797 105 0.12% 412 0.47%
Land 35,774 306 0.86% 4,963 13.87%
-------- -------- ---------- -------- ----------
Consumer 20,023 7 0.03% 130 0.65%
-------- -------- ---------- -------- ----------
Commercial 15,751 299 1.90% 4.833 30.7%
-------- -------- ---------- -------- ----------
Subtotal - Real Estate
Loans $522,710 $ 496 0.09% $ 10,299 1.97%
-------- -------- ---------- -------- ----------
Non-Real Estate Loans:
Commercial Loans $ 27,403 (1) 0.00% $ -- 0.00%
Consumer Loans:
Loans on Deposits 3,737 7 0.19% 69 1.85%
Auto Loans 2,105 -- 0.00% 23 1.07%
Mobile Home Loans 38,285 31 0.08% 379 0.99%
Other 14,362 9 0.06% 101 0.70%
-------- -------- ---------- --------
Subtotal - Non Real
Estate Loans $ 85,892 $ 46 0.05% $ 572 0.67%
-------- -------- ---------- -------- ----------
Gross Loans $608,602 $ 542 0.09% $ 10,871 1.79%
======== ======== ======== ----------
Non-accruals $ 10,079
90 + Days Past Due 793
OREO & Foreclosed 1,438
--------
Nonperforming Assets
(Net) $ 12,310
========
Performing TDRs $ 1,075
Loans: Linked Quarter
Comparison 03/31/ 03/31/ 12/31/ 12/31/
Average Loan Balances & 2012 2012 2011 2011 Change Change
Yields Balance Yield Balance Yield Balance Yield
------------------------ -------- ------ -------- ------ -------- ------
Real Estate Loans
1-4 Family $396,005 5.19% $384,094 5.21% $ 11,911 -0.02%
Commercial 137,203 5.54% 132,074 5.64% 5,129 -0.10%
-------- -------- --------
533,208 5.28% 516,168 5.32% 17,040 -0.04%
Non-Real Estate Loans
Commercial $ 26,721 5.77% $ 27,258 6.06% $ (537) -0.29%
Consumer 76,427 9.16% 77,647 9.33% (1,220) -0.17%
-------- -------- --------
103,148 8.28% 104,905 8.48% (1,757) -0.20%
Total All Loans $636,356 5.76% $621,073 5.85% $ 15,283 -0.09%
======== ======== ========
Prior Year Comparison 03/31/ 03/31/ 03/31/ 03/31/
Average Loan Balances & 2012 2012 2011 2011 Change Change
Yields Balance Yield Balance Yield Balance Yield
------------------------ -------- ------ -------- ------ -------- ------
Real Estate Loans
1-4 Family $396,005 5.19% $352,801 5.78% $ 43,204 -0.59%
Commercial 137,203 5.54% 133,005 5.48% 4,198 0.06%
-------- -------- --------
533,208 5.28% 485,806 5.70% 47,402 -0.42%
Non-Real Estate Loans
Commercial $ 26,721 5.77% $ 24,876 5.78% $ 1,845 -0.01%
Consumer 76,427 9.16% 79,197 9.23% (2,770) -0.07%
-------- -------- --------
103,148 8.28% 104,073 8.40% (925) -0.12%
Total All Loans $636,356 5.76% $589,879 6.17% $ 46,477 -0.41%
======== ======== ========
Loans: Linked Quarter
Comparison 12/31/ 12/31/ 09/30/ 09/30/
Average Loan Balances & 2011 2011 2011 2011 Change Change
Yields Balance Yield Balance Yield Balance Yield
------------------------ -------- ------ -------- ------ -------- ------
Real Estate Loans
1-4 Family $384,094 5.21% $360,569 5.59% $ 23,525 -0.38%
Commercial 132,074 5.64% 126,299 5.69% 5,775 -0.05%
-------- -------- --------
516,168 5.32% 486,868 5.62% 29,300 -0.30%
Non-Real Estate Loans
Commercial $ 27,258 6.06% $ 26,223 5.99% $ 1,035 0.07%
Consumer 77,647 9.33% 78,645 9.67% (998) -0.34%
-------- -------- --------
104,905 8.48% 104,868 8.75% 37 -0.27%
Total All Loans $621,073 5.85% $591,736 6.17% $ 29,337 -0.32%
======== ======== ========
Prior Year Comparison 12/31/ 12/31/ 12/31/ 12/31/
Average Loan Balances & 2011 2011 2010 2010 Change Change
Yields Balance Yield Balance Yield Balance Yield
------------------------ -------- ------ -------- ------ -------- ------
Real Estate Loans
1-4 Family $384,094 5.21% $351,121 5.81% $ 32,973 -0.60%
Commercial 132,074 5.64% 134,698 5.76% (2,624) -0.12%
-------- -------- --------
516,168 5.32% 485,819 5.80% 30,349 -0.48%
Non-Real Estate Loans
Commercial $ 27,258 6.06% $ 28,889 6.21% (1,631) -0.15%
Consumer 77,647 9.33% 80,839 9.29% (3,192) 0.04%
-------- -------- --------
104,905 8.48% 109,728 8.48% (4,823) 0.00%
Total All Loans $621,073 5.85% $595,547 6.29% $ 25,526 -0.44%
======== ======== ========
Loans: Linked Quarter
Comparison 09/30/ 09/30/ 06/30/ 06/30/
Average Loan Balances & 2011 2011 2011 2011 Change Change
Yields Balance Yield Balance Yield Balance Yield
-------- ------ -------- ------ -------- ------
Real Estate Loans
1-4 Family $360,569 5.59% $352,181 5.70% $ 8,388 -0.11%
Commercial 126,299 5.69% 130,800 5.58% (4,501) 0.11%
-------- -------- --------
Total Real Estate
Loans $486,868 5.62% $482,981 5.67% 3.887 -0.05%
Non-Real Estate Loans
Commercial $ 26,223 5.99% $ 24,813 5.97% $ 1,410 0.02%
Consumer 78,645 9.67% 78,626 9.51% 19 0.16%
-------- -------- --------
Total Non-Real Estate
Loans 104,868 8.75% 103,439 8.66% 1,429 0.09%
Total All Loans $591,736 6.17% $586,420 6.20% $ 5,316 -0.03%
======== ======== ========
Loans: Prior Year
Comparison 09/30/ 09/30/ 09/30/ 09/30/
Average Loan Balances & 2011 2011 2010 2010 Change Change
Yields Balance Yield Balance Yield Balance Yield
-------- ------ -------- ------ -------- ------
Real Estate Loans
1-4 Family $353,573 5.73% $349,621 5.98% $ 3,952 -0.25%
Commercial 131,192 5.63% 138,950 5.82% (7,758) -0.19%
-------- -------- --------
484,765 5.70% 488,571 5.94% (3,806) -0.24%
Non-Real Estate Loans
Commercial $ 26,211 5.99% $ 29,996 6.37% $ (3,785) -0.38%
Consumer 79,378 9.42% 80,567 9.30% (1,189) 0.12%
-------- -------- --------
105,589 8.57% 110,563 8.50% (4,974) 0.07%
Total All Loans $590,354 6.21% $599,134 6.41% $ (8,780) -0.20%
======== ======== ========
Interest-bearing Liabilities: Linked Quarter Comparison
Average balances 03/31 12/31
03/31 /2012 12/31 /2011 Change
/2012 Avg. /2011 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ----- -------- ----- -------- ------ --------
NOW Accounts $119,544 0.19% $111,078 0.18% $ 8,466 0.01% 7.6%
Non-interest
bearing
Deposits 86,358 0.00% 81,272 0.00% 5,086 0.00% 6.3%
-------- ----- -------- ----- -------- ------ --------
Checking Total $205,902 0.11% $192,350 0.11% $ 13,552 0.00% 7.0%
Savings
Accounts $190,365 0.32% $186,897 0.31% $ 3,468 0.01% 1.9%
Money Market
Accounts 53,727 0.25% 54,473 0.23% (746) 0.02% -1.4%
-------- ----- -------- ----- -------- ------ --------
Total Smart
Growth
Deposits $449,994 0.22% $433,720 0.21% $ 16,274 0.01% 3.8%
Time Deposits $158,784 2.16% $160,656 2.24% $ (1,872) -0.08% -1.2%
Total Deposits $608,778 0.72% $594,376 0.76% $ 14,402 -0.04% 2.4%
FHLB Advances $123,665 3.28% $120,740 3.15% $ 2,925 0.13% 2.4%
-------- ----- -------- ----- -------- ------ --------
Total Interest-
bearing
liabilities $646,085 1.31% $633,844 1.31% $ 12,241 0.00% 1.9%
-------- -------- --------
Non-interest
bearing
Deposits $ 86,358 0.00% $ 81,272 0.00% $ 5,086 0.00% 6.3%
Interest-bearing Liabilities: Prior Year Comparison
Average balances 03/31 03/31
03/31 /2012 03/31 /2011 Change
/2012 Avg. /2011 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ----- -------- ----- -------- ------ --------
NOW Accounts $119,544 0.19% $110,357 0.17% $ 9,187 0.02% 8.3%
Non-interest
bearing
Deposits 86,358 0.00% 75,893 0.00% 10,465 0.00% 13.8%
-------- ----- -------- ----- -------- ------ --------
Checking Total $205,902 0.11% $186,250 0.10% $ 19,652 0.01% 10.6%
Savings
Accounts $190,365 0.32% $176,515 0.55% $ 13,850 -0.23% 7.8%
Money Market
Accounts 53,727 0.25% 56,670 0.35% (2,943) -0.10% -5.2%
-------- ----- -------- ----- -------- ------ --------
Total Smart
Growth
Deposits $449,994 0.22% $419,435 0.32% $ 30,559 -0.10% 7.3%
Time Deposits $158,784 2.16% $171,229 2.47% $(12,445) -0.31% -7.3%
Total Deposits $608,778 0.72% $590,664 0.94% $ 18,114 -0.22% 3.1%
FHLB Advances $123,665 3.28% $ 85,550 4.53% $ 38,115 -1.25% 44.6%
-------- ----- -------- ----- -------- ------ --------
Total Interest-
bearing
liabilities $646,085 1.31% $600,321 1.57% $ 45,764 -0.26% 7.6%
-------- -------- --------
Non-interest
bearing
Deposits $ 86,358 0.00% $ 75,893 0.00% $ 10,465 0.00% 13.8%
Interest-bearing Liabilities: Linked Quarter Comparison
Average balances 12/31 9/30
12/31 /2011 9/30 /2011 Change
/2011 Avg. /2011 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ----- -------- ----- -------- ------ --------
NOW Accounts $111,078 0.18% $108,579 0.14% $ 2,499 0.04% 2.3%
Non-interest
bearing
Deposits 81,272 0.00% 87,454 0.00% $ (6,182) 0.00% -7.1%
-------- ----- -------- ----- -------- ------ --------
Checking
Total $192,350 0.11% $196,033 0.08% $ (3,683) 0.03% -1.9%
Savings
Accounts $186,897 0.31% $191,840 0.33% $ (4,943) -0.02% -2.6%
Money Market
Accounts 54,473 0.23% 54,787 0.30% (314) -0.07% -0.6%
-------- ----- -------- ----- -------- ------ --------
Total Smart
Growth
Deposits $433,720 0.21% $442,660 0.22% $ (8,940) -0.01% -2.0%
Time Deposits $160,656 2.24% $165,284 2.25% $ (4,628) -0.01% -2.8%
Total Deposits $594,376 0.76% $607,944 0.77% $(13,568) -0.01% -2.2%
FHLB Advances $120,740 3.15% $ 92,514 3.93% $ 28,226 -0.78% 30.5%
-------- ----- -------- ----- -------- ------ --------
Total Interest-
bearing
liabilities $633,844 1.31% $613,004 1.36% $ 20,840 -0.05% 3.4%
======== ======== ========
Non-interest
bearing
Deposits $ 81,272 0.00% $ 87,454 0.00% $ (6,182) 0.00% -7.1%
Interest-bearing Liabilities: Prior Year Comparison
Average balances 12/31 12/31
12/31 /2011 12/31 /2010 Change
/2011 Avg. /2010 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ----- -------- ----- -------- ------ --------
NOW Accounts $111,078 0.18% $105,225 0.18% $ 5,853 0.00% 5.6%
Non-interest
bearing
Deposits 81,272 0.00% 73,015 0.00% 8,257 0.00% 11.3%
-------- ----- -------- ----- -------- ------ --------
Checking
Total $192,350 0.11% $178,240 0.11% $ 14,110 0.00% 7.9%
Savings
Accounts $186,897 0.31% $167,291 0.60% $ 19,606 -0.29% 11.7%
Money Market
Accounts 54,473 0.23% 58,559 0.35% (4,086) -0.12% -7.0%
-------- ----- -------- ----- -------- ------ --------
Total Smart
Growth
Deposits $433,720 0.21% $404,090 0.35% $ 29,630 -0.14% 7.3%
Time Deposits $160,656 2.24% $175,947 2.53% $(15,291) -0.29% -8.7%
Total Deposits $594,376 0.76% $580,037 1.01% $ 14,339 -0.25% 2.5%
FHLB Advances $120,740 3.15% $ 95,251 4.53% $ 25,489 -1.38% 26.8%
-------- ----- -------- ----- -------- ------ --------
Total Interest-
bearing
liabilities $633,844 1.31% $602,273 1.69% $ 31,571 -0.38% 5.2%
======== ======== ========
Non-interest
bearing
Deposits $ 81,272 0.00% $ 73,015 0.00% $ 8,257 0.00% 11.3%
Interest-bearing Liabilities: Linked Quarter Comparison
Average balances 09/30 06/30
09/30 /2011 06/30 /2011 Change
/2011 Avg. /2011 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ----- -------- ----- -------- ------ --------
NOW Accounts $108,579 0.14% $112,611 0.18% $ (4,032) -0.04% -3.6%
Non-interest
bearing
Deposits 87,454 0.00% 84,114 0.00% 3,340 0.00% 4.0%
-------- ----- -------- ----- -------- ------ --------
Checking
Total $196,033 0.08% $196,725 0.10% $ (692) -0.02% -0.4%
Savings
Accounts $191,840 0.33% $190,379 0.38% $ 1,461 -0.05% 0.8%
Money Market
Accounts 54,787 0.30% 55,619 0.27% (832) 0.03% -1.5%
-------- ----- -------- ----- -------- ------ --------
Total Smart
Growth
Deposits $442,660 0.22% $442,723 0.24% $ (63) -0.02% 0.0%
Time Deposits $165,284 2.25% $171,055 2.33% $ (5,771) -0.08% -3.4%
Total Deposits $607,944 0.77% $613,778 0.82% $ (5,834) -0.05% -1.0%
FHLB Advances $ 92,514 3.93% $ 79,879 4.61% $ 12,635 -0.68% 15.8%
-------- ----- -------- ----- -------- ------ --------
Total Interest-
bearing
liabilities $613,004 1.36% $609,543 1.43% $ 3,461 -0.07% 0.6%
-------- -------- --------
Non-interest
bearing
Deposits $ 87,454 0.00% $ 84,114 0.00% $ 3,340 0.00% 4.0%
Interest-bearing Liabilities: Average Quarter Balances
Average balances 09/30 09/30
09/30 /2011 09/30 /2010 Change
/2011 Avg. /2010 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ----- -------- ----- -------- ------ --------
NOW Accounts $108,579 0.14% $103,467 0.26% $ 5,112 -0.12% 4.9%
Non-interest
bearing
Deposits 87,454 0.00% 66,808 0.00% 20,646 0.00% 30.9%
-------- ----- -------- ----- -------- ------ --------
Checking
Total $196,033 0.08% $170,275 0.16% $ 25,758 -0.08% 15.1%
Savings
Accounts $191,840 0.33% $163,157 0.69% $ 28,683 -0.36% 17.6%
Money Market
Accounts 54,787 0.30% 61,305 0.40% $ (6,518) -0.10% -10.6%
-------- ----- -------- ----- -------- ------ --------
Total Smart
Growth
Deposits $442,660 0.22% $394,737 0.41% $ 47,923 -0.19% 12.1%
Time Deposits $165,284 2.25% $181,517 2.60% $(16,233) -0.35% -8.9%
Total Deposits $607,944 0.77% $576,254 1.10% $ 31,690 -0.33% 5.5%
FHLB Advances $ 92,514 3.93% $100,831 4.52% $ (8,317) -0.59% -8.2%
-------- ----- -------- ----- -------- ------ --------
Total Interest-
bearing
liabilities $613,004 1.36% $610,277 1.79% $ 2,727 -0.43% 0.4%
-------- -------- --------
Non-interest
bearing
Deposits $ 87,454 0.00% $ 66,808 0.00% $ 20,646 0.00% 30.9%
Quarter-End Loan
Quality Details
March 31, 2012 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
-------- ---------- ----- ------- ----- -------- -----
Commercial Loans
Commercial Land $ 14,378 $ 4,262 29.6% $ 39 0.3% $ 10,077 70.1%
Commercial
Construction 7,729 656 8.5% 376 4.9% 6,697 86.6%
Commercial Real
Estate 119,446 2,111 1.8% 3,488 2.9% 113,847 95.3%
Commercial Non
Real Estate 26,773 208 0.8% 127 0.5% 26,438 98.7%
-------- ---------- ----- ------- ----- -------- -----
Total
Commercial $168,326 $ 7,237 4.3% $ 4,030 2.4% $157,059 93.3%
Residential Loans
Residential
Construction $ 8,538 -- 0.0% -- 0.0% $ 8,538 100.0%
Residential 390,540 4,346 1.1% 333 0.1% 385,861 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total
Residential $399,078 $ 4,346 1.1% $ 333 0.1% $394,399 98.8%
Consumer Loans
Mobile Homes $ 36,864 $ 288 0.8% -- 0.0% $ 36,576 99.2%
Consumer Other 39,057 $ 249 0.6% -- 0.0% 38,808 99.4%
-------- ---------- ----- ------- ----- -------- -----
Total Consumer $ 75,921 $ 537 0.7% -- 0.0% $ 75,384 99.3%
Total All Loans $643,325 $ 12,120 1.9% $ 4,363 0.7% $626,842 97.4%
Quarter-End Loan
Quality Details
December 31, 2011 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
----------------- -------- ---------- ----- -------- ----- -------- -----
Commercial Loans
Commercial Land $ 15,163 $ 4,629 30.5% $ 64 0.4% $ 10,470 69.1%
Commercial
Construction 9,068 763 8.4% 379 4.2% 7,926 87.4%
Commercial Real
Estate 118,693 1,177 1.0% 4,237 3.6% 113,279 95.4%
Commercial Non
Real Estate 27,217 51 0.2% 127 0.5% 27,039 99.3%
-------- ---------- ----- -------- ----- -------- -----
Total
Commercial $170,141 $ 6,620 3.9% $ 4,807 2.8% $158,714 93.3%
Residential Loans
Residential
Construction $ 9,589 $ -- 0.00% $ -- 0.0% 9,589 100.0%
Residential 377,655 3,889 1.00% 181 0.0% 373,585 99.0%
-------- ---------- ----- -------- ----- -------- -----
Total
Residential $387,244 $ 3,889 1.00% $ 181 0.0% $383,174 99.0%
Consumer Loans
Mobile Homes $ 37,494 $ 495 1.3% $ -- 0.0% $ 36,999 98.7%
Consumer Other 39,545 260 0.7% - 0.0% 39,285 99.3%
-------- ---------- ----- -------- ----- -------- -----
Total
Consumer $ 77,039 $ 755 1.0% $ -- 0.0% $ 76,284 99.0%
Total All Loans $634,424 $ 11,264 1.8% $ 4,988 0.8% $618,172 97.4%
======== ========== ===== ======== ===== ======== =====
Quarter-End Loan
Quality Details
September 30,
2011 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
----------------- -------- ---------- ----- -------- ----- -------- -----
Commercial Loans
Commercial Land $ 15,721 $ 4,792 30.5% $ 166 1.1% $ 10,763 68.4%
Commercial
Construction 9,473 1,052 11.1% 381 4.0% 8,040 84.9%
Commercial Real
Estate 111,558 1,848 1.7% 2,534 2.3% 107,176 96.1%
Commercial Non
Real Estate 27,403 58 0.2% 558 2.0% 26,787 97.8%
-------- ---------- ----- -------- ----- -------- -----
Total
Commercial $164,155 $ 7,750 4.7% $ 3,639 2.2% $152,766 93.1%
Residential Loans
Residential
Construction $ 10,604 $ -- 0.0% $ -- 0.0% $ 10,604 100.0%
Residential 356,950 3,320 0.9% 183 0.1% 353,447 99.0%
-------- ---------- ----- -------- ----- -------- -----
Total
Residential $367,554 $ 3,320 0.9% $ 183 0.1% $364,051 99.0%
Consumer Loans
Mobile Homes $ 38,285 $ 379 1.0% $ -- 0.0% $ 37,906 99.0%
Consumer Other 40,227 248 0.6% -- 0.0% 39,979 99.4%
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Total
Consumer $ 78,512 $ 627 0.8% $ -- 0.0% $ 77,885 99.2%
Total All Loans $610,221 $ 11,697 1.9% $ 3,822 0.6% $594,702 97.5%
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Contact: Patrick Little President & CEO Teche Holding Company (337) 560-7151
Source: Teche Holding Company
