Teche Federal and Home Bank, two Acadiana-based community banks, say they saw a year-to-year increase in quarterly earnings, thanks to the strong South Louisiana economy. The parent company of New Iberia-based Teche Federal says it earned $1.73 million in the last quarter or 81 cents per share, compared with a $476,000 loss the year before.
The improved earnings came even though Teche wrote off 42 cents per share in earnings this year, because of an impairment charge related to its securities portfolio and a special FDIC assessment. Net income from interest and non-interest sources was $11.6 million for Teche Federal, compared with $10.6 million from a year earlier. Lafayette-based Home Bank says it earned $1.4 million in the quarter, or 18 cents a share, a $334,000 or 30% increase from the year before. The bank had $7.1 million in income from interest and non-interest sources, up from the $5.2 million that came in the year before.
