Teche posts record earnings per share
NEW IBERIA — Teche Holding Co. reported increased earnings of $250,000 and 13 cents more per diluted share during the fourth quarter of this year as compared to the same period in 2010.
According to figures recently released by Teche Holding, the parent company of Teche Federal Bank, earnings for the quarter — which ended Sept. 30 — were $2.1 million or $1.01 per diluted share.
In the same period a year ago, earning were 14.8 percent less at $1.85 million, or 88 cents per diluted share.
Earnings for fiscal 2011 amounted to $7.2 million, or a record $3.45 per diluted share, compared to $7.1 million, or $3.37 per diluted share for the same period in fiscal 2010. That represents a 2.4 percent increase.
“It is exciting to announce that the company is posting record earnings per share for a third consecutive year,” Teche Holding President and CEO Patrick Little said in a news release. “It has not been easy. These past three years have been very challenging years for the financial industry. Since September 2008, we have grown loans, we have grown deposits, our capital measures have increased and we have maintained solid asset quality.”
“SmartGrowth Deposits have increased steadily, year-over-year, for the past three years,” Little added. “This year they increased by a solid 9.1 percent to a record $436.5 million.”
“We are very pleased that we were able to post significant increases in SmartGrowth loans and total loans this quarter,” Little said.