MidSouth Bank, based in Lafayette, saw its quarterly earnings go up, while New Iberia-based Teche Federal Bank was down slightly. MidSouth’s second-quarter profit rose 10.8%, and the regional banking company noted an increase in demand for loans. For the three months ending June 30, MidSouth earned $1.05 million, or 10 cents per share. In the year-ago second quarter, profit totaled $951,000, or 10 cents per share. MidSouth CEO Rusty Cloutier says the company’s “loan pipeline has really picked up.” The company has been approved for participation in a federally backed small business lending fund.
Teche Federal reported quarterly earnings of $1.79 million, or 85 cents per diluted share. That compares with the $1.82 million, or 87 cents a share, the bank earned during the same period in 2010. Patrick Little, Teche president and CEO, noted the bank had record earnings for the past two years, despite the national recession, and earnings in the past nine months have been near that point. Net interest income for Teche rose from $7.3 million in 2010 to $7.6 million this year. But non-interest income fell by a similar amount, from $4.2 million to $3.9 million.
