[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:
Read the full press release here.
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.
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