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.
The parent of Investar Bank says its second-quarter earnings fell to $1.1 million or 26 cents a share from $1.7 million of 44 cents a share in the same period a year ago.
1,554 rigs were exploring for oil and 315 for gas. Two were listed as miscellaneous. A year ago there were 1,770 active rigs.
Most personal auto insurance policies exclude coverage when people charge money to drive others in their personal vehicles.
Louisiana's 21 casinos took in $203.5 million statewide in June, edging up one-half of a percentage point from a year earlier.
Business First Bank has announced plans for a Baton Rouge market expansion through a merger deal with American Gateway Financial Corp.
Mellow Mushroom Pizza Bakers opens on Johnston.
Acadiana's Top 50 Private Companies
It would be an understatement to say Schumacher Group had a challenging year in 2013.
Hampton Toyota has been serving Acadiana as the premier Toyota dealership for more than 10 years. And now, the glossy Johnston Street dealership is looking forward to a makeover.
Even when Floyd Degueyter is on “vacation” he’s hard at work.
As the second largest metal heat treating company in the country, Analytic Stress Relieving Inc. has grown by leaps and bounds since its inception in 1979.
When the Prohibition era came to an end in 1933, Joseph R. Streva saw an opportunity to make a little extra money to supplement his day job.
When a hurricane hits, Brent Mouton doesn’t run. The convenience store chain owner is proof that the challenges of mother nature can almost break a business, but Mouton learned to grow out of temporary closure from near devastation in 2002 and of lost potential revenue.
By launching a Super PAC to end all Super PACs, our Top 50 keynote speaker hopes to change the game in Washington.
Oil Center-based private facility extends its offerings with special events venue in failed women’s store.
One year later, is his expansion plan paying off?
Newspaper industry insiders question John Georges’ expansion plan.
How the U.S. has gotten itself into another fine mess
The Heymann Center was transformed into a culinary adventure in mid-June for the EatLafayette kick-off event, A Taste of Lafayette, and for the third consecutive year, a sellout crowd filled the Cajundome Convention Center June 19 to hear LEDA chief Gregg Gothreaux’s State of the Economy report.
A look at recent hirings, promotions and other announcements from Acadiana's business community.
Anne Pyle puts a bow on a stellar, expectations-defying career with her latest venture.
The company currently has 10 branches throughout Louisiana, including an Ambassador Caffery location which opened last year.
Lawmakers have added $15 million to the attorney general's budget to pay for Louisiana's ongoing legal case against BP for damages caused by the 2010 Gulf oil spill.
The state's jobless rate rose to 5 percent in June from 4.9 percent in May. Louisiana's unemployment rate was 6.4 percent in June 2013.
Long-established private club opening special events venue in failed women’s store at Kaliste Saloom Road and Camellia Boulevard.