Home Bank’s parent company, Home Bancorp, earned $1.5 million in the fourth quarter of 2010, a 61 percent increase over the $555,400 it earned in the third quarter and an increase of $1.4 million, or 6.67 percent, compared to the fourth quarter of 2009.
Net income for the year was $4.7 million, an increase of $9,000, or 0.2 percent, compared to 2009. Earnings per share were 20 cents for the fourth quarter of 2010, an increase of 67 percent compared to the third quarter of 2010. Earnings per share were 62 cents for the year, an increase of 7 percent over 2009.
John W. Bordelon, president and CEO, said highlights from the year included the bank’s Northshore acquisition, the opening of its third Baton Rouge location and continued loan and deposit growth across each of its markets.
Teche Federal Bank’s parent, Teche Holding Company, earned $1.8 million or 87 cents per diluted share, in the quarter ended Dec. 31, which represents the first quarter of its fiscal 2011. That compares with $1.7 million or 82 cents per diluted share for the same quarter in fiscal 2010, an increase of 5 cents per share, or 6.1 percent.
“We had solid earnings this quarter on top of record EPS for FY 2010 and FY 2009,” said Teche President and CEO Patrick Little. “We are very pleased that both net interest income and non-interest income have remained steady over the past year. Even better, net charge-offs for the second quarter amounted to only 0.08% or 0.32% annualized,” he added. Little said two years ago Teche declined Troubled Asset Relief Program money in part because the bank saw a very challenging regulatory and economic environment in the coming years. “We did not want to be in a position to be over-capitalized and thus desperate to grow and expand in the midst of higher unemployment and a slower economy,” he said. “We think we made the right decision.”
In other positive banking news, Regions Financial Corp., which has been working to overcome losses on real estate loans, has returned to profitability. In the fourth quarter of 2010, the Birmingham-based bank earned $36 million, or 3 cents per share, compared to a loss of 17 cents per share for the third quarter and a 2009 fourth quarter loss of $606 million, or 51 cents a share. Full year results reflect a net loss of 62 cents per share, compared with a net loss of $1.27 per share in 2009.
A divided 3rd Circuit Court of Appeal reversed a Lafayette district judge’s ruling absolving the co-owner of a New Iberia accounting firm of liability in an embezzlement case.
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“I am only getting a little nervous about two projects — the proposed Sasol GTL facility [not the new ethylene plant] and the proposed G2X facility — both in Lake Charles. They need a hefty difference between oil and natural gas prices to make sense.”
Lower oil prices also might slow the growth of oil production in parts of the U.S., Canada and elsewhere because it will no longer be so profitable.
A Lafayette woman faces up to 20 years in prison for running up more than $1 million in unauthorized charges to her company credit card.
Signs that our state’s banking industry is undergoing a downsizing in 2014 were further confirmed today with the FDIC’s latest figures showing a third straight quarter in which Louisiana lost more banks and earned less money.
State police say a 47-year-old Lafayette man, who collected more than $83,000 in disability benefits, is accused of operating two businesses out of his home at a time when he claimed he had no income.
Facing opposition from a powerful industry, the governor and many in the Legislature, a New Orleans-area flood board's lawsuit against dozens of oil, gas and pipeline companies seemed doomed early on.
Thursday’s explosion aboard an oil production platform in the Gulf of Mexico is now under investigation by the Bureau of Safety and Environmental Enforcement.
Money from the first and only settlement so far in a Louisiana flood board's lawsuit against dozens of energy companies will be placed in a special account dedicated to coastal restoration.
BP is heading to a federal appeals court in its effort to oust the administrator of damage settlement claims arising from the 2010 Gulf of Mexico oil spill.
The 59-41 Senate vote was one shy short of the 60 needed to clear the House-passed measure.
Spot bonuses to employees who go above and beyond on projects one of several reasons national mag calls BR-based biz bank a cool place to work.
The Director Search Committee interviewed the five men still in the running via video last week and is set to trim the field this week.
Telecom’s decision to halt deployment to more than 100 cities while it awaits net-neutrality rules appears to be little more than a temper tantrum.
Environmental (and political) junkies got a double fix when The Lens hosted a discussion between its environmental writer and the lead attorney in the levee board suit.
Follow The IND to hear Lens environmental reporter Bob Marshall's interview with Gladstone Jones, the lead attorney in the lawsuit against the oil and gas companies for coastal damages.
The $35B deal leaves the burning question about what it will mean for the thousands of these two service giants' local employees.
Broussard & David set up shop at the corner of Jefferson and Vermilion.
in light of falling oil prices, Forbes asks, “Will there be more?”
Lake Charles lets Acadiana companies in on the action as our neighbor to the west prepares for unprecedented growth.
A new study analyzes the state of the Lake Charles region and the impact 19 industrial projects will have on residents.
A U.S. magistrate judge calls “garbage” on behavior of attorneys for Progressive Waste Solutions.
The Lafayette food truck scene is slowing down but not stopping.
Lake-area financial institutions seeing green.