ABiz -> Acadiana Business TUE, JUL 26 10:38AM by Heather Miller

Home Bank sees drop in 2Q earnings over 2010

[Editor's Note: This article has been altered since its first publication to remove the second quarter earnings of IberiaBank and MidSouth Bank, both of which have not yet been released. The Ind regrets the error.]

Home Bank has increased its profits by almost $500,000 from the first quarter of this year, but the Lafayette-based bank's earnings are down $199,000 from the second quarter of 2010.

In a release from the company, Home Bank President and CEO John Bordelon says, "Although loan demand was relatively light during the first half of the year, the loan pipeline began to build late in the second quarter. We expect to have opportunities to deepen and add new relationships over the remainder of 2011."

Home Bank completed its acquisition of Guaranty Savings Bank of Metairie on July 15, bringing the combined assets to roughly $975 million with $640 million in loans and $720 million in deposits:

The company plans to convert operating systems at the former Guaranty Savings Bank to those of Home Bank in September 2011. The company expects to realize cost savings of approximately $1.5 million on a pre-tax basis ... Following the merger, Home Bank's capital position remains one of the strongest in the industry with total risk-based capital near 19%. No additional capital was needed to complete the transaction.

Read the full press release here.

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Comments (4)

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written by keith b , July 26, 2011 - 05:01 pm

sounds about like the way things are. 2 out of 3 are not doing better, only 1 out of 3 are doing better. smiles

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written by citizen , July 26, 2011 - 06:37 pm

$1.3 million in profit in a quarter. Not bad considering these scumbags don't actually have to do any WORK.

Must be nice getting rich off the backs of working citizens.

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written by Shiggy , July 26, 2011 - 06:47 pm

The out-0f-state banks seem to keep getting themselves in trouble. From all I've read and seen, the local banks (HOme, Iberia, Midsouth), seem to be doing well and expanding. Kudos to them. Hopefully, the government doesn't start a moratorium on LA banks growing.

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written by Steph , July 26, 2011 - 07:59 pm

Citizen - I have more than a few friends in banking. The ones I know get up and go to work every morning. They work hard. And although they live good lives, they don't seem to be getting rich off of what they're doing. Why do you feel compelled to paint people with such a ugly brush? You're just being ugly for the sake of being ugly. Just because you're anonymous doesn't mean you have to do spew such hate.

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