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Teche Posts $1.49 EPS for First Quarter 2013


Teche Posts $1.49 EPS for First Quarter 2013

NEW IBERIA, LA -- (Marketwire) -- 01/23/13 -- (NYSE MKT: TSH) - Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended December 31, 2012, the first quarter of fiscal year 2013.

Earnings for the quarter ended December 31, 2012 amounted to $3.1 million, or $1.49 per diluted share, compared to $1.8 million, or $0.85 per diluted share, for the same quarter in fiscal 2012, an increase of $0.64 per diluted share, or 75.3%.

This quarter included two non-recurring items: the sale of $46.3 million in mortgage loans, generating a one-time pre-tax gain of $2.0 million, and an accelerated first quarter dividend in the amount of $0.365 per common share. Excluding the gain on sale of mortgage loans, diluted earnings per share for the first quarter would have been $0.86 per common share.

"We had solid earnings this quarter on top of record EPS for the past four fiscal years," said Little. "Our loan sale this quarter helps to re-position our balance sheet, and the accelerated dividend provided some tax relief for our shareholders. Also, commercial and consumer loan growth was positive this quarter, and the loan pipeline remains strong."

The Company reported the following points of interest:


 
--  The Company posted a $1.3 million after-tax gain on the $46.3 million
    sale of mortgage loans.
--  The Company declared dividends totaling $0.73 per share, including a
    regular dividend of $0.365 and an accelerated first quarter dividend
    of $0.365.
--  SmartGrowth Deposits increased 3.3% over the linked quarter and 11.5%
    compared to a year ago. SmartGrowth Deposits amounted to 77.7% of
    total deposits at December 31, 2012, compared to 76.8% at September
    30, 2012 and 73.3% a year ago.
--  Checking Account Balances increased 4.8% compared to the linked
    quarter-end and 16.0% compared to December 31, 2011.
--  The average rate paid on all deposits was 0.53% for the quarter
    compared to 0.58% for the linked quarter and 0.88% a year ago.
--  Quarterly operating revenue increased to $13.5 million for the current
    quarter, as compared to $12.1 million in the linked quarter and $11.5
    million a year ago, mainly due to the $2.0 million gain on the sale of
    loans.
--  Tangible book value per share increased to $39.86, an increase of
    1.5%, or $0.57, compared to September 30, 2012 and 6.4%, or $2.39,
    year-over-year.
--  Net charge offs for the quarter amounted to 0.07% of average loans.

Capital

Over the past twelve months, stockholders' equity increased 4.5% to a record $84.8 million at December 31, 2012, while assets increased 3.2% to $839.7 million. The tangible equity ratio at December 31, 2012 increased to 9.70%, compared to 9.56% a year ago. Tangible book value per common share increased to a record $39.86, an increase of 6.4% compared to a year ago. Risk based capital increased to 14.34% compared to 14.09% a year ago, and the equity to asset ratio increased to 10.09% from 9.97% a year ago.

During the quarter ended December 31, 2012, the Company repurchased 15,034 shares of the Company's common stock at an average price of $37.66 per share.


 
                                                                            
--------------------------------------------------------------------------- 
QUARTERLY COMPARISON        Dec '12   Sep '12   Jun '12   Mar '12   Dec '11 
--------------------------------------------------------------------------- 
Stockholders' Equity (in                                                    
 millions)                 $   84.8  $   83.5  $   81.7  $   82.2  $   81.1 
Ratio of Equity to Assets     10.09%     9.81%     9.68%     9.90%     9.97%
Basic Earnings Per Share   $   1.51  $   1.02  $   0.84  $   0.83  $   0.86 
Adjusted Earnings Per                                                       
 Share*                    $   0.86  $   1.02  $   0.84  $   0.83  $   0.86 
Tangible Equity Ratio          9.70%     9.42%     9.29%     9.50%     9.56%
Total Risk-Based Capital                                                    
 Ratio                        14.34%    14.09%    13.79%    14.12%    14.09%
Book Value Per Common                                                       
 Share                     $  41.65  $  41.09  $  40.32  $  39.68  $  39.24 
Tangible Book Value Per                                                     
 Common Share              $  39.86  $  39.29  $  38.51  $  37.91  $  37.47 
Total Assets (in millions) $  839.7  $  852.0  $  843.8  $  829.7  $  813.5 
  *Excluding Gain on Loan                                                   
   Sale                                                                     

Non-Recurring items The sale of $46.3 million in mortgage loans, the related $1.3 million after tax gain and the acceleration of the first quarter dividend of $0.365 per share were non-recurring items. While the loan sale consisted primarily of long-term, fixed rate mortgage loans, approximately $10 million of the loans were SmartGrowth mortgage loans.

"We hope to have the loans replaced within a couple of quarters," said Little. "We expect to replace them with a healthy mix of commercial, consumer and mortgage loans."

Asset Quality The following tables set forth asset quality ratios and allowance for loan loss activity for each of the past five quarters:


 
                                                                            
--------------------------------------------------------------------------- 
Net Charge offs, ALLL, NPAs                                                 
QUARTERLY COMPARISON            Dec '12  Sep '12  Jun '12  Mar '12  Dec '11 
--------------------------------------------------------------------------- 
Net Charge-offs/Average Loans      0.07%    0.05%    0.08%    0.08%    0.05%
ALLL*/NPLs                        87.76%   82.52%   79.63%   74.02%   71.25%
ALLL*/NPAs                        81.52%   78.54%   74.54%   71.40%   65.30%
ALLL*/Loans                        1.28%    1.27%    1.27%    1.32%    1.33%
NPAs/Assets                        1.20%    1.28%    1.34%    1.43%    1.53%

*ALLL figures include specific reserves

The following table sets forth the allowance for loan loss activity for each of the past five quarters.


 
                                                                            
----------------------------------------------------------------------------
Allowance for Loan Loss                                                     
 Provision & Charge-offs                                                    
QUARTERLY COMPARISON (in 000's)  Dec '12  Sep '12  Jun '12  Mar '12  Dec '11
----------------------------------------------------------------------------
Beginning ALLL                  $  8,559 $  8,411 $  8,450 $  8,392 $  8,331
Provision for Loan Losses            150      500      510      550      350
Net Charge-offs                      475      352      549      492      289
Ending ALLL                     $  8,234 $  8,559 $  8,411 $  8,450 $  8,392
Ending ALLL (net of specific                                                
 reserves)                      $  8,234 $  8,559 $  8,411 $  8,246 $  8,142

The allowance for loan losses was 1.28% of total loans, or $8.2 million, at December 31, 2012 compared to 1.27% of total loans, or $8.6 million, at September 30, 2012 and 1.33% of total loans, or $8.4 million, at December 31, 2011.

Net charge-offs for the quarter were $0.5 million, or 0.07% of average loans, compared to $0.3 million, or 0.05% of average loans, for the same period a year ago. For the twelve months ended December 31, 2012, net charge offs were $1.9 million, or 0.29% of average loans, compared to $4.7 million, or 0.78% of loans, for the twelve months ended December 31, 2011.

Non-performing assets decreased slightly to $10.3 million, or 1.20% of total assets, at December 31, 2012 compared to $10.9 million, or 1.28% of total assets, at September 30, 2012 and $12.4 million, or 1.53% of total assets, a year ago. This is primarily due to a decrease in non-accrual loans.


 
                                                                            
----------------------------------------------------------------------------
Net Interest Income                                                         
QUARTERLY COMPARISON (In 000's)  Dec '12  Sep '12  Jun '12  Mar '12  Dec '11
----------------------------------------------------------------------------
Interest Income                 $  9,571 $  9,836 $  9,725 $  9,807 $  9,766
Interest Expense                   1,832    1,895    1.993    2,111    2,080
                                -------- -------- -------- -------- --------
                                                                            
Net Interest Income             $  7,739 $  7,941 $  7,732 $  7,696 $  7,686
                                ======== ======== ======== ======== ========

Net interest income decreased $0.2 million compared to the linked quarter, primarily due to the sale of loans being offset somewhat by decreases in deposit rates.


 
                                                                            
--------------------------------------------------------------------------- 
Net Interest Margin and Spread                                              
QUARTERLY COMPARISON            Dec '12  Sep '12  Jun '12  Mar '12  Dec '11 
--------------------------------------------------------------------------- 
Yield on Earning Assets            4.92%    5.07%    5.10%    5.20%    5.30%
Cost of Interest Bearing                                                    
 Liabilities                       1.11%    1.14%    1.23%    1.31%    1.31%
Spread                             3.80%    3.93%    3.87%    3.90%    3.99%
Net Interest Margin                3.98%    4.10%    4.06%    4.08%    4.17%

Net interest margin amounted to 3.98% for the three-month period ended December 31, 2012, compared to 4.17% for the three-months ended December 31, 2011. The decrease was primarily due to lower yields on both loans and investments, offset somewhat by lower deposit rates.

Spread amounted to 3.80% for the three month period ended December 31, 2012, compared to 3.99% for the same period in the previous year. Compared to the same quarter last year, the average yield on earning assets decreased 38 basis points from 5.30% to 4.92%, while the average cost of funds decreased 20 basis points from 1.31% to 1.11%.

Operating Revenue Operating revenue for the quarter ended December 31, 2012, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $13.5 million compared to $11.5 million for the same quarter in 2011. Excluding the impact of the loan sale during the quarter, operating revenue of $11.5 million remained constant as compared to the same quarter in 2011.

The table below reflects the Company's operating revenues in millions over the past five quarters:


 
                                                                            
----------------------------------------------------------------------------
Operating Revenue                                                           
QUARTERLY COMPARISON (in                                                    
 millions)                       Dec '12  Sep '12  Jun '12  Mar '12  Dec '11
----------------------------------------------------------------------------
Net Interest Income             $    7.7 $    7.9 $    7.7 $    7.7 $    7.7
Non Interest Income                  5.8      4.2      3.7      3.9      3.8
                                -------- -------- -------- -------- --------
Operating Revenue               $   13.5 $   12.1 $   11.4 $   11.6 $   11.5
                                ======== ======== ======== ======== ========

Non-Interest Income Non-interest income increased to $5.8 million for the quarter, as compared to $4.2 million in the linked quarter and $3.8 million for the same quarter a year ago. This is mainly due to the $2.0 million gain from the sale of loans. Non-interest income amounted to 2.73% of average assets for the quarter compared to 1.99% for the linked quarter and 1.88% a year ago. Excluding the sale of loans, non-interest income was $3.8 million, or 1.80% of average assets.


 
                                                                            
--------------------------------------------------------------------------- 
Non-Interest Income &                                                       
 Expense                                                                    
QUARTERLY COMPARISON (in                                                    
 thousands)                 Dec '12   Sep '12   Jan '12   Mar '12   Dec '11 
--------------------------------------------------------------------------- 
Interchange fee Income     $    826  $    847  $    917  $    843  $    778 
Other Non-Interest Income     4,986     3,361     2,734     3,038     2,990 
Total Non-Interest Income  $  5,816  $  4,208  $  3,651  $  3,881  $  3,768 
Total Non-Interest                                                          
 Income/Avg. Assets            2.73%     1.99%     1.76%     1.89%     1.88%
Non-Interest Expense       $  8,752  $  8,534  $  8,287  $  8,445  $  8,447 
Non-Interest Expense/Avg.                                                   
 Assets                        4.11%     4.03%     3.99%     4.11%     4.21%

Non-Interest Expense For the quarter ended December 31, 2012, non-interest expense was $8.8 million, or 4.11% of average assets, compared to $8.5 million, or 4.03% of average assets, in the linked quarter, which was an increase of 2.6%, primarily due to increases in compensation and marketing expenses. Compared to the same quarter in fiscal 2011, non-interest expense increased by $0.4 million, or 3.6%, from $8.4 million to $8.8 million, which was primarily due to increases in compensation, marketing, and data processing expenses.

Net Income and Dividends On November 28, 2012, the Board of Directors declared a $0.365 per share quarterly dividend. In addition, the Board declared a special, accelerated first quarter dividend of $0.365 per share. The Company has paid a cash dividend for 70 consecutive quarters. In view of the special dividend, the Company does not anticipate declaring a dividend for the first calendar quarter of 2013.


 
                                                                            
----------------------------------------------------------------------------
QUARTERLY COMPARISON (In 000's)  Dec '12  Sep '12  Jun '12  Mar '12  Dec '11
----------------------------------------------------------------------------
Dividends Declared Per Share    $   0.73 $  0.365 $  0.365 $  0.365 $   0.36
Basic Earnings Per Common Share $   1.51 $   1.02 $   0.84 $   0.83 $   0.86
Diluted Earnings Per Common                                                 
 Share                          $   1.49 $   1.01 $   0.83 $   0.82 $   0.85

Loans


 
                                                                            
-------
---------------------------------------------------------------------
QUARTERLY COMPARISON (In                                                    
 000,000's)                       Dec '12  Sep '12  Jun '12  Mar '12 Dec '11
----------------------------------------------------------------------------
SmartGrowth Loans                                                           
  Consumer                       $  113.4 $  110.2 $  109.3 $  106.6 $ 107.4
  Commercial                        220.5    215.2    216.9    208.6   213.6
  Home Equity                        42.5     43.2     44.5     46.5    47.3
  SmartMortgages                    100.8    111.1    106.5    102.2    98.2
                                 -------- -------- -------- -------- -------
Total SmartGrowth Loans          $  477.2 $  479.7 $  477.2 $  463.9 $ 466.5
Mortgage Loans (owner occupied                                              
 conforming)                        165.4    194.7    183.3    177.6   166.1
                                 -------- -------- -------- -------- -------
Total Loans                      $  642.6 $  674.4 $  660.5 $  641.5 $ 632.6

Linked Quarter Comparison. Gross loans receivable decreased to $642.6 million at December 31, 2012 from $674.4 million at September 30, 2012, a decrease of $31.8 million or 4.7% compared to the linked quarter, primarily due to the sale of $46.3 million of one-to four-family mortgages. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans, and consumer loans, were $477.2 million, or 74.3% of total loans, at December 31, 2012, compared to $479.7 million, or 71.1%, at September 30, 2012, a three month decrease of $2.5 million, or 0.5%.

Commercial loan balances at December 31, 2012 amounted to $220.5 million compared to $215.2 million at September 30, 2012, a three month increase of $5.3 million, or 2.5%. Consumer loan balances at December 31, 2012 amounted to $113.4 million compared to $110.2 million at September 30, 2012, a linked quarter increase of $3.2 million, or 2.9%.

One Year Comparison. Gross loans receivable increased to $642.6 million at December 31, 2012 from $632.6 million at December 31, 2011, a twelve month increase of $10.0 million, or 1.6%. SmartGrowth Loans increased to $477.2 million at December 31, 2012 from $466.5 million at December 31, 2011, a twelve month increase of $10.7 million, or 2.3%.

Commercial loan balances at December 31, 2012 amounted to $220.5 million compared to $213.6 million at December 31, 2011, a twelve month increase of $6.9 million, or 3.2%. Consumer loan balances at December 31, 2012 amounted to $113.4 million, compared to $107.4 million at December 31, 2011, a twelve month increase of $6.0 million, or 5.6%.

"We made over $64.2 million in loans this quarter," said Little, "including $56.6 million in SmartGrowth loans. The Southwest Louisiana region is a great area with a growing economy and low unemployment."

Loan Sale On November 28, 2012, Patrick Little, on behalf of the Company, announced the sale of a portfolio of single-family owner-occupied, performing, fixed rate mortgage loans with a book value of $46.3 million.

The Company recognized a one-time gain of $2.0 million during the quarter associated with the sale of the loans. The Bank retained servicing of these loans.

The portfolio of sold loans had a weighted average coupon rate of approximately 3.7% and a weighted average remaining term of approximately 170 months. The yield on average loans was 5.45% for the quarter ended December 31, 2012, as compared to a weighted average coupon rate of 3.7% on the loans sold.

"First, the loan sale gain of $2 million demonstrates the value of our mortgage loan portfolio," said Little. "Furthermore, we hope that it will help boost our net interest margin and spread."

Deposits


 
                                                                            
----------------------------------------------------------------------------
QUARTERLY COMPARISON (In                                                    
 000,000's)                      Dec '12  Sep '12  Jun '12  Mar '12  Dec '11
----------------------------------------------------------------------------
SmartGrowth Deposits                                                        
  Checking                      $  230.8 $  220.3 $  218.7 $  223.3 $  199.0
  Money Market                      55.0     55.2     52.5     54.8     52.0
  Savings                          204.2    198.7    198.1    194.9    188.3
                                -------- -------- -------- -------- --------
Total SmartGrowth Deposits      $  490.0 $  474.2 $  469.3 $  473.0 $  439.3
Time Deposits                      140.6    143.5    146.2    157.5    160.0
                                -------- -------- -------- -------- --------
Total Deposits                  $  630.6 $  617.7 $  615.5 $  630.5 $  599.3

Linked Quarter Comparison. Total deposits increased to $630.6 million at December 31, 2012 from $617.7 million at September 30, 2012, a linked quarter increase of $12.9 million, or 2.1%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts, increased $15.8 million, or 3.3%, to $490.0 million at December 31, 2012, from $474.2 million at September 30, 2012.

Checking account balances at December 31, 2012 increased $10.5 million, or 4.8%, to $230.8 million from $220.3 million at September 30, 2012.

One Year Comparison. Total deposits increased to $630.6 million at December 31, 2012 from $599.3 million at December 31, 2011, a twelve month increase of $31.3 million, or 5.2%. Total SmartGrowth Deposits increased $50.7 million, or 11.5%, from $439.3 million at December 31, 2011 to $490.0 million at December 31, 2012.

SmartGrowth Deposits amounted to 77.7% of total deposits as of December 31, 2012, compared to 73.3% at December 31, 2011.

Checking account balances have increased 16.0%, or $31.8 million, in the past 12 months from $199.0 million at December 31, 2011 to $230.8 million at December 31, 2012. Checking account balances at December 31, 2012 accounted for 36.6% of total deposits, compared to 33.2% at December 31, 2011.

Teche Holding Company is the parent company of Teche Federal Bank, which operates nineteen offices in South Louisiana and serves over 70,000 customers. Teche is the fourth largest publicly traded bank holding company based in Louisiana with over $839 million in assets. Deposits at Teche Federal Bank are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (FDIC). Teche Holding Company's common stock is traded under the symbol "TSH" on the NYSE MKT.

Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Teche Holding Company with the Securities and Exchange Commission from time to time. The Company does not und ertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.


 
                                                                            
                           TECHE HOLDING COMPANY                            
               (Dollars in thousands, except per share data)                
                               New Iberia, LA                               
                            Statements of Income                            
                                (UNAUDITED)                                 
                                          THREE MONTHS ENDED                
                           ------------------------------------------------ 
                             Dec.      Sep.      Jun.      Mar.      Dec.   
                             2012      2012      2012      2012      2011   
                                                                            
Condensed Statements of                                                     
 Income                                                                     
Interest Income            $  9,571  $  9,836  $  9,725  $  9,807  $  9,766 
Interest Expense              1,832     1,895     1,993     2,111     2,080 
                           --------  --------  --------  --------  -------- 
Net Interest Income           7,739     7,941     7,732     7,696     7,686 
Provision for Loan Losses       150       500       510       550       350 
                           --------  --------  --------  --------  -------- 
Net Interest Income after                                                   
  Provision for Loan                                                        
   Losses                     7,589     7,441     7,222     7,146     7,336 
Non Interest Income           5,812     4,208     3,651     3,881     3,768 
Non Interest Expense          8,752     8,534     8,287     8,445     8,447 
                           --------  --------  --------  --------  -------- 
Income Before Income Taxes                                                  
                              4,649     3,115     2,586     2,582     2,657 
Income Taxes                  1,577     1,042       854       874       885 
                           --------  --------  --------  --------  -------- 
Net Income                 $  3,072  $  2,073  $  1,732  $  1,708  $  1,772 
                           ========  ========  ========  ========  ======== 
                                                                            
Selected Financial Data                                                     
                           --------  --------  --------  --------  -------- 
Dividends Declared Per                                                      
 Share                     $   0.73  $  0.365  $  0.365  $  0.365  $   0.36 
Basic Earnings Per Common                                                   
 Share                     $   1.51  $   1.02  $   0.84  $   0.83  $   0.86 
Diluted Earnings Per                                                        
 Common Share              $   1.49  $   1.01  $   0.83  $   0.82  $   0.85 
Annualized Return on Avg.                                                   
 Assets                        1.44%     0.98%     0.83%     0.83%     0.88%
Annualized Return on Avg.                                                   
 Equity                       14.17%     9.81%     8.28%     8.22%     8.86%
Annualized Return on Avg.                                                   
  Tangible Equity (1)         14.80%    10.25%     8.67%     8.61%     9.30%
Yield on Interest Earning                                                   
 Assets                        4.92%     5.07%     5.10%     5.20%     5.30%
Cost of Interest Bearing                                                    
 Liabilities                   1.11%     1.14%     1.23%     1.31%     1.31%
Spread                         3.80%     3.93%     3.87%     3.90%     3.99%
Net Interest Margin            3.98%     4.10%     4.06%     4.08%     4.17%
Non-Interest Income/Avg.                                                    
 Assets                        2.73%     1.99%     1.76%     1.89%     1.88%
Non-Interest Expense/Avg.                                                   
 Assets                        4.11%     4.03%     3.99%     4.11%     4.21%
Quarterly Net Charge-                                                       
 offs/Avg. Loans               0.07%     0.05%     0.08%     0.08%     0.05%
Weighted avg. shares                                                        
 Outstanding                                                                
  Basic                       2,039     2,028     2,055     2,067     2,059 
  Diluted                     2,064     2,061     2,078     2,088     2,078 
                                                                            
AVERAGE BALANCE SHEET DATA                                                  
                           --------  --------  --------  --------  -------- 
Total Assets               $851,126  $846,114  $830,958  $821,582  $803,024 
Earning assets             $778,592  $775,399  $762,007  $753,980  $738,111 
Loans                      $667,191  $665,952  $648,640  $636,356  $621,073 
Interest-bearing deposits  $527,476  $521,708  $523,488  $522,420  $513,104 
Total deposits             $623,689  $612,785  $617,209  $608,777  $594,376 
Total stockholders' equity $ 86,713  $ 84,525  $ 83,643  $ 83,095  $ 79,993 
                                                                            
(1) Eliminates the effect of goodwill and the core deposit intangible       
 assets and the related amortization expense on a tax effected basis. The   
 amount was calculated using the following information.                     
                                                                            
                                                                            
Average Stockholders'                                                       
 Equity                    $ 86,713  $ 84,525  $ 83,643  $ 83,095  $ 79,993 
Less average goodwill and                                                   
 other intangible assets,                                                   
net of related income                                                       
 taxes                       (3,657)   (3,659)   (3,664)   (3,665)   (3,667)
                           --------  --------  --------  --------  -------- 
Average Tangible Equity    $ 83,056  $ 80,866  $ 79,979  $ 79,430  $ 76,326 
                           ========  ========  ========  ========  ======== 
                                                                            
Net Income                 $  3,072  $  2,073  $  1,732  $  1,708  $  1,772 
Plus Amortization of core                                                   
 deposit intangibles, net                                                  
 
 of related income taxes                                                    
                                  1         1         2         2         2 
                           --------  --------  --------  --------  -------- 
Net Income, as adjusted    $  3,073  $  2,074  $  1,734  $  1,710  $  1,774 
                           ========  ========  ========  ========  ======== 
                                                                            
                                                                            
                                                                            
                                                                            
                                                                            
                                                                            
                           TECHE HOLDING COMPANY                            
               (Dollars in thousands, except per share data)                
                               New Iberia, LA                               
                               Balance Sheet                                
                                (UNAUDITED)                                 
                                                                            
                             Dec.      Sep.      Jun.      Mar.      Dec.   
                             2012      2012       2012     2012       2011  
                           --------  --------  --------  --------  -------- 
SmartGrowth Loans                                                           
  Consumer                 $113,365  $110,235  $109,287  $106,596  $107,399 
  Commercial                220,463   215,212   216,929   208,579   213,659 
  Home Equity                42,546    43,233    44,513    46,486    47,261 
  SmartMortgage Loans       100,859   111,072   106,532   102,228    98,221 
                           --------  --------  --------  --------  -------- 
Total SmartGrowth Loans     477,233   479,752   477,261   463,889   466,540 
 Mortgage Loans (owner                                                      
  occupied conforming)      165,364   194,650   183,274   177,566   166,088 
                           --------  --------  --------  --------  -------- 
                            642,597   674,402   660,535   641,455   632,628 
Allowance for Loan Losses    (8,234)   (8,559)   (8,411)   (8,450)   (8,392)
                           --------  --------  --------  --------  -------- 
Loans Receivable, Net       634,363   665,843   652,124   633,005   624,236 
                                                                            
Cash and Securities         142,406   124,080   129,750   136,841   130,126 
Goodwill and Other                                                          
 Intangibles                  3,657     3,659     3,661     3,664     3,667 
Foreclosed Real Estate          697       513       625       397     1,012 
Other                        58,575    57,867    57,608    55,799    54,504 
                           --------  --------  --------  --------  -------- 
TOTAL ASSETS               $839,698  $851,962  $843,768  $829,706  $813,545 
                           ========  ========  ========  ========  ======== 
                                                                            
SmartGrowth Deposits                                                        
  Checking                 $230,845  $220,268  $218,717  $223,228  $199,021 
  Money Market               54,955    55,251    52,478    54,817    52,019 
  Savings                   204,241   198,667   198,042   194,919   188,303 
                           --------  --------  --------  --------  -------- 
Total Smart Growth                                                          
 Deposits                   490,041   474,186   469,237   472,964   439,343 
Time Deposits                140,59                                         
                                  8   143,536   146,227   157,547   159,968 
                           --------  --------  --------  --------  -------- 
Total Deposits              630,639   617,722   615,464   630,511   599,311 
                                                                            
FHLB Advances               117,034   142,751   139,955   110,344   127,621 
Other Liabilities             7,258     7,948     6,669     6,682     5,501 
Stockholders' Equity         84,767    83,541    81,680    82,169    81,112 
                           --------  --------  --------  --------  -------- 
TOTAL LIABILITIES AND                                                       
STOCKHOLDERS' EQUITY       $839,698  $851,962  $843,768  $829,706  $813,545 
                           ========  ========  ========  ========  ======== 
                                                                            
Ratio of Equity to Assets     10.09%     9.81%     9.68%     9.90%     9.97%
Tangible Equity Ratio          9.70%     9.42%     9.29%     9.50%     9.56%
Total Risk-Based Capital                                                    
 Ratio                        14.34%    14.09%    13.79%    14.12%    14.09%
Book Value per Common                                                       
 Share                     $  41.65  $  41.09  $  40.32  $  39.68  $  39.24 
Tangible Book Value Per                                                     
 Common Share (1)          $  39.86  $  39.29  $  38.51  $  37.91  $  37.47 
Shares Outstanding (in                                                      
 thousands)                   2,035     2,033     2,026     2,071     2,067 
Non-performing                                                              
 Assets/Total Assets           1.20%     1.28%     1.34%     1.43%     1.53%
ALLL/Loans                     1.28%     1.27%     1.27%     1.32%     1.33%
ALLL/NPLs                     87.76%    82.52%    79.63%    74.02%    71.25%
                                                                            
(1) Eliminates the effect of goodwill and the core deposit intangible       
 assets and the related amortization expense on atax affected basis. The    
 amount was calculated using the following information.                     
                                                                            
Stockholders' Equity       $ 84,767  $ 83,541  $ 81,680  $ 82,169  $ 81,112 
Less goodwill and other                                                     
 Intangible                                                                 
assets, net of related                                                      
 income taxes                (3,656)   (3,655)   (3,658)   (3,654)   (3,657)
                           --------  --------  --------  --------  -------- 
Tangible Stockholders'                                                      
 Equity                    $ 81,111  $ 79,886  $ 78,022  $ 78,515  $ 77,455 
                           ========  ========  ========  ========  ======== 
                                                                            
Total Assets               $839,698  $851,962  $843,768  $829,706  $813,545 
Less goodwill and other                                                     
 Intangible                                                                 
assets, net of related                                                      
 income taxes                (3,656)   (3,655)   (3,658)   (3,654)   (3,657)
                           --------  --------  --------  --------  -------- 
Total Tangible Assets      $836,042  $848,3
07  $840,110  $826,052  $809,888 
                           ========  ========  ========  ========  ======== 
                                                                            
                                                                            
                                                                            
                           TECHE HOLDING COMPANY                            
               (Dollars in thousands, except per share data)                
                               New Iberia, LA                               
                            Annual Balance Sheet                            
                                (UNAUDITED)                                 
                                                                            
                                                          Dec.              
                                 Dec. 2012  Dec. 2011     2010    Dec. 2009 
                                ----------  ---------  ---------  --------- 
SmartGrowth Loans                                                           
    Consumer                    $  113,365  $ 107,399  $ 111,139  $ 109,899 
    Commercial                     220,463    213,659    208,797    213,505 
    Home Equity                     42,546     47,261     52,182     57,373 
    SmartMortgage Loans            100,859     98,221     89,389     86,462 
                                ----------  ---------  ---------  --------- 
Total SmartGrowth Loans            477,233    466,540    461,507    467,239 
  Mortgage Loans (owner                                                     
   occupied conforming)            165,364    166,088    132,224    135,048 
                                ----------  ---------  ---------  --------- 
                                   642,597    632,628    593,731    602,287 
Allowance for Loan Losses           (8,234)    (8,392)    (9,953)    (7,744)
                                ----------  ---------  ---------  --------- 
Loans Receivable, Net              634,363    624,236    583,778    594,543 
                                                                            
Cash and Securities                142,406    130,126    110,405    108,282 
Goodwill and Other Intangibles       3,657      3,667      3,682      3,707 
Foreclosed Real Estate                 697      1,012      2,079      1,128 
Other                               58,575     54,504     53,757     49,604 
                                ----------  ---------  ---------  --------- 
TOTAL ASSETS                    $  839,698  $ 813,545  $ 753,701  $ 757,264 
                                ==========  =========  =========  ========= 
                                                                            
SmartGrowth Deposits                                                        
    Checking                    $  230,845  $ 199,021  $ 186,240  $ 170,552 
    Money Market                    54,955     52,019     55,557     80,034 
    Savings                        204,241    188,303    169,326    128,254 
                                ----------  ---------  ---------  --------- 
Total Smart Growth Deposits        490,041    439,343    411,123    378,840 
Time Deposits                      140,598    159,968    172,316    196,651 
                                ----------  ---------  ---------  --------- 
Total Deposits                     630,639    599,311    583,439    575,491 
                                                                            
FHLB Advances                      117,034    127,621     87.756    103,451 
Other Liabilities                    7,258      5,501      6,009      6,000 
Stockholders' Equity                84,767     81,112     76,497     72,322 
                                ----------  ---------  ---------  --------- 
TOTAL LIABILITIES AND                                                       
STOCKHOLDERS' EQUITY            $  839,698  $ 813,545  $ 753,701  $ 757,264 
     
                           ==========  =========  =========  ========= 
                                                                            
Ratio of Equity to Assets            10.09%      9.97%     10.15%      9.55%
Tangible Equity Ratio                 9.70%      9.56%      9.71%      9.07%
Total Risk-Based Capital Ratio       14.34%     14.09%     13.79%     12.70%
Book Value per Common Share     $    41.65  $   39.24  $   36.81  $   34.49 
Tangible Book Value Per Common                                              
 Share (1)                      $    39.86  $   37.47  $   35.04  $   32.74 
Non-performing Assets/Total                                                 
 Assets                               1.20%      1.53%      2.27%      1.58%
ALLL/Loans                            1.28%      1.33%      1.68%      1.29%
ALLL/NPLs                            87.76%     73.72%     66.36%     72.12%
Shares Outstanding (in                                                      
 thousands)                          2,035      2,067      2,078      2,097 
                                                                            
(1) Eliminates the effect of goodwill and the core deposit intangible       
 assets and the related amortization expense.                               
                                                                            
Stockholders' Equity                 $ 84,767  $ 81,112  $ 76,497  $ 72,322 
Less goodwill and other Intangible                                          
assets, net of related income taxes    (3,656)   (3,657)   (3,670)   (3,687)
                                     --------  --------  --------  -------- 
Tangible Stockholders' Equity        $ 81,111  $ 77,455  $ 72,827  $ 68,365 
                                     ========  ========  ========  ======== 
                                                                            
Total Assets                         $839,698  $813,545  $753,701  $757,264 
Less goodwill and other Intangible                                          
assets, net of related income taxes    (3,656)   (3,657)   (3,670)   (3,687)
                                     --------  --------  --------  -------- 
Total Tangible Assets                $836,042  $809,888  $750,031  $753,577 
                                     --------  --------  --------  -------- 
                                                                            
                                                                            
                                                                            
                                                         90 Days            
                                      Net       Net         +     90 Days + 
Quarter-End Loan Data       Total   Charge-   Charge-      Non       Non    
December 31, 2012           Loans    Offs      Offs      Accrual   Accrual  
(In 000's)                 Dollars  Dollars Percentage   Dollars Percentage 
                          -------- -------- ----------  -------- ---------- 
Real Estate Loans                                                           
  Construction            $ 17,108 $     --       0.00% $     --        0.0%
  Permanent, Secured by:                                                    
    1-4 Dwelling Units:                                                     
    Revolving, Open-End                                                     
     Loans (HELOC)          20,839       --       0.00%       68        0.3%
    All Other                                                               
      Secured by First                                                      
       Liens               347,104      285       0.08%    2,888        0.8%
      Secured by Junior                                                     
       Liens                 6,800       --       0.00%       --        0.0%
    Multifamily (5+                                                         
     Dwelling Units)        20,112       --  
     0.00%      943        4.7%
    Nonresidential                                                          
     Property (Except                                                       
     Land)                 103,307       --       0.00%      212        0.2%
    Land                    34,040      121       0.36%    4,714       13.8%
                          -------- -------- ----------  -------- ---------- 
      Consumer              19,973       --       0.00%      177        0.9%
                          -------- -------- ----------  -------- ---------- 
      Commercial            14,067      121       0.86%    4,537       32.3%
                          -------- -------- ----------  -------- ---------- 
Subtotal - Real Estate                                                      
 Loans                    $549,310 $    406       0.07% $  8,825        1.6%
                          -------- -------- ----------  -------- ---------- 
                                                                            
Non-Real Estate Loans:                                                      
  Commercial Loans        $ 33,364 $     --       0.00% $     14        0.0%
  Consumer Loans:                                                           
    Loans on Deposits        3,431       --       0.00%       50        1.5%
    Auto Loans               2,198       13       0.59%        8        0.4%
    Mobile Home Loans       38,055       54       0.14%      645        1.7%
    Other                   16,239        2       0.01%       39        0.2%
                          -------- -------- ----------  --------            
Subtotal - Non Real                                                         
 Estate Loans             $ 93,287 $     69       0.07% $    756        0.8%
                          -------- -------- ----------  -------- ---------- 
                                                                            
Gross Loans               $642,597 $    475       0.07% $  9,581        1.5%
                          ======== -======= ----------  ======== ---------- 
                                                                            
Non-accruals              $  9,177                                          
90 + Days Past Due             404                                          
OREO & Foreclosed              683                                          
                          --------                                          
    Nonperforming Assets                                                    
     (Net)                $ 10,264                                          
                          ========                                          
    Performing TDRs             --                                          
                                                                            
                                                                            
                                                                            
                                    Net        Net       90 Days            
Quarter-End Loan Data     Total   Charge-    Charge-        +     90 Days + 
                                                           Non       Non    
September 30, 2012        Loans    Offs       Offs       Accrual   Accrual  
(In 000's)               Dollars  Dollars  Percentage    Dollars Percentage 
                        -------- --------  ----------   -------- ---------- 
Real Estate Loans                                                           
  Construction          $ 16,835 $     --        0.00%  $     --        0.0%
  Permanent, Secured                                                        
   by:                                                                      
    1-4 Dwelling Units:                                                     
      Revolving, Open-                                                      
       End Loans                                                            
       (HELOC)            20,641       --        0.00%       127        0.6%
      All Other                                                             
        Secured by                                                          
         First Liens     383,954      285        0.07%     4,140        1.1%
        Secured by                                                          
         Junior Liens      6,892       --        0.00%       181        2.6%
    Multifamily (5+                                                         
     Dwelling Units)      21,248       --        0.00%        --        0.0%
    Nonresidential                                                          
     Property (Except                                                       
     Land)                99,347       26        0.03%       810        0.8%
    Land                  32,652       (4)       0.01%     4,530       13.9%
                        -------- --------  ----------   -------- ---------- 
        Consumer          19,340       --        0.00%       186        1.0%
                        -------- --------  ----------   -------- ---------- 
        Commercial        13,312       (4)      (0.03%)    4,344       32.6%
                        -------- --------  ----------   -------- ---------- 
Subtotal - Real Estate                                                      
 Loans                  $581,569 $    307        0.05%  $  9,788        1.7%
                        -------- --------  ----------   -------- ---------- 
                                                                            
Non-Real Estate Loans:                                                      
  Commercial Loans      $ 34,032 $     --        0.00%  $      2        0.0%
  Consumer Loans:                                                           
      Loans on Deposits    3,636       --        0.00%        89        2.4%
      Auto Loans           2,112       --        0.00%        21        1.0%
      Mobile Home Loans   37,030       30        0.08%       425        1.1%
      Other               16,023       15        0.09%        47        0.3%
                        -------- --------  ----------   --------            
Subtotal - Non Real                                                         
 Estate Loans           $ 92,833 $     45        0.05%  $    584        0.6%
                        -------- --------  ----------   -------- ---------- 
                                                                            
Gross Loans             $674,402 $    352        0.05%  $ 10,372        1.5%
                        ======== ========  ----------   ======== ---------- 
                                                                            
Non-accruals            $ 10,021                                            
90 + Days Past Due           351                                            
OREO & Foreclosed            490                                            
                        --------                                            
  Nonperforming Assets                                                      
   (Net)                $ 10,862                                            
                        ========                                            
  Performing TDRs             --                                            
                                                                            
                                                                            
                                                                            
Loans: Linked Quarter Comparison                                            
Average Loan              12/31/  12/31/   09/30/  09/30/                   
Balances & Yields          2012    2012     2012    2012    Change   Change 
(In 000's)                Balance  Yield   Balance  Yield   Balance   Yield 
                                                                            
                                               
                             
Real Estate Loans                                                           
    1-4 Family           $416,485   4.84% $419,789   4.95% $ (3,304)  -0.11%
    Commercial            136,251   5.25%  135,547   5.40%      704   -0.15%
                         --------         --------         --------         
                          552,736   4.94%  555,336   5.06% $ (2,600)  -0.12%
                                                                            
Non-Real Estate Loans                                                       
    Commercial           $ 35,093   5.41% $ 31,963   5.64% $  3,130   -0.23%
    Consumer               79,362   9.05%   78,653   9.21%      709   -0.16%
                         --------         --------         --------         
                          114,455   7.93%  110,616   8.18%    3,839   -0.25%
                                                                            
Total All Loans          $667,191   5.45% $665,952   5.58% $  1,239   -0.13%
                         ========         ========         ========         
                                                                            
                                                                            
Prior Year Comparison     12/31/  12/31/   12/31/  12/31/                   
Average Loan Balances &    2012    2012     2011    2011    Change   Change 
Yields (In 000's)         Balance  Yield   Balance  Yield   Balance   Yield 
                                                                            
                                                                            
Real Estate Loans                                                           
    1-4 Family           $416,485   4.84% $384,094   5.21% $ 32,391   -0.37%
    Commercial            136,251   5.25%  132,074   5.64%    4,177   -0.39%
                         --------         --------         --------         
                          552,736   4.94%  516,168   5.32%   36,568   -0.38%
                                                                            
Non-Real Estate Loans                                                       
    Commercial           $ 35,093   5.41% $ 27,258   6.06% $  7,835   -0.65%
    Consumer               79,362   9.05%   77,647   9.33%    1,715   -0.28%
                         --------         --------         --------         
                          114,455   7.93%  104,905   8.48%    9,550   -0.55%
                                                                            
Total All Loans          $667,191   5.45% $621,073   5.85% $ 46,118   -0.40%
                         ========         ========         ========         
                                                                            
                                                                            
                                                                            
Loans: Linked Quarter                                                       
 Comparison                                                                 
                       09/30/   09/30/   06/30/   06/30/                    
Average Loan            2012     2012     2012     2012    Change    Change 
Balances & Yields (In                                                       
 000's)                Balance  Yield    Balance  Yield    Balance   Yield  
                      -------- -------  -------- -------  --------  ------- 
Real Estate Loans                                                           
  1-4 Family          $419,789    4.95% $407,115    5.03% $ 12,674    -0.08%
  Commercial           135,547    5.40%  136,402    5.57% $   (855)   -0.17%
                      --------          --------          --------          
Total Real Estate                                                           
 Loans                 555,336    5.06%  543,517    5.18%   11,819    -0.12%
                                                                            
Non-Real 
Estate Loans                                                       
  Commercial          $ 31,963    5.64% $ 28,206    5.46% $  3,757     0.18%
  Consumer              78,653    9.21%   76,917    9.10%    1,736     0.11%
                      --------          --------          --------          
Total Non-Real Estate                                                       
 Loans                 110,616    8.18%  105,123    8.13%    5,493     0.05%
                                                                            
Total All Loans       $665,952    5.58% $648,640    5.63% $ 17,312    -0.05%
                      ========          ========          ========          
                                                                            
                                                                            
Loans: Prior Year                                                           
Comparison                                                                  
Average Loan           09/30/   09/30/   09/30/   09/30/                    
 Balances & Yields      2012     2012     2011     2011    Change    Change 
(In 000's)             Balance  Yield    Balance  Yield    Balance   Yield  
                                                                            
                                                                            
Real Estate Loans                                    
                       
  1-4 Family          $401,968    5.08% $353,573    5.73% $ 48,395    -0.65%
  Commercial           135,300    5.51%  131,192    5.63%    4,108    -0.12%
                      --------          --------          --------          
                       537,268    5.19%  484,765    5.70%   52,503    -0.51%
                                                                            
Non-Real Estate Loans                                                       
  Commercial          $ 28,543    5.79% $ 26,211    5.99% $  2,332    -0.20%
  Consumer              77,413    9.21%   79,378    9.42%   (1,965)   -0.21%
                      --------          --------          --------          
                       105,956    8.29%  105,589    8.57%      367    -0.28%
                                                                            
Total All Loans       $643,224    5.70% $590,354    6.21% $ 52,870    -0.51%
                      ========          ========          ========          
                                                                            
                                                                            
                                                                            
Interest-bearing Liabilities: Linked Quarter Comparison                     
                                                                            
Average            
                                                         
 balances        12/31/  12/31/    9/30/   9/30/                            
(In 000's)        2012    2012     2012    2012    Change   Change     %    
                    $     Avg.       $     Avg.       $      Avg.   Balance 
                 Balance  Yield   Balance  Yield   Balance   Yield   Change 
                -------- ------  -------- ------  --------  ------  ------- 
 NOW Accounts   $128,492   0.22% $124,017   0.22% $  4,475    0.00%     3.6%
 Non-interest                                                               
  bearing                                                                   
  Deposits        96,213   0.00%   91,077   0.00%    5,136    0.00%     5.6%
                -------- ------  -------- ------  --------  ------  ------- 
  Checking                                                                  
   Total        $224,705   0.12% $215,094   0.12% $  9,611    0.00%     4.5%
                                                                            
 Savings                                                                    
  Accounts      $203,181   0.33% $198,079   0.33% $  5,102    0.00%     2.6%
 Money Market                                                               
  Accounts        54,445   0.15%   54,791   0.18%     (346)  -0.03%    -0.6%
                -------- ------  -------- ------  --------  ------  ------- 
                                                                            
 Total Smart                                                                
  Growth                                                                    
  Deposits      $482,331   0.21% $467,964   0.22% $ 14,367   -0.01%     3.1%
                                                                            
 Time Deposits  $141,358   1.62% $144,821   1.75% $ (3,463)  -0.13%    -2.4%
                                                                            
 Total Deposits $623,689   0.53% $612,785   0.58% $ 10,904   -0.05%     1.8%
                                                                            
 FHLB Advances  $131,845   3.04% $141,565   2.85% $ (9,720)   0.19%    -6.9%
                -------- ------  -------- ------  --------  ------  ------- 
                                                                            
Total Interest-                                                             
 bearing                                                                    
 liabilities    $659,321   1.11% $663,273   1.14% $ (3,952)  -0.03%    -0.6%
                ========         ========         ========                  
                                                                            
Non-interest                                                                
 bearing                                                                    
 Deposits       $ 96,213   0.00% $ 91,077   0.00% $  5,136    0.00%     5.6%
                                                                            
                                                                            
                                                                            
Interest-bearing Liabilities: Prior Year Comparison                         
                                                                            
Average                                                                     
balances         12/31/  12/31/   12/31/  12/31/                            
(In 000's)        2012    2012     2011    2011    Change   Change     %    
                    $     Avg.       $     Avg.       $      Avg.   Balance 
                 Balance  Yield   Balance  Yield   Balance   Yield   Change 
                -------- ------  -------- ------  --------  ------  ------- 
 NOW Accounts   $128,492   0.22% $111,078   0.18% $ 17,414    0.04%    15.7%
 Non-interest                                                               
  bearing                                                                   
  Deposits        96,213   0.00%   81,272   0.00%   14,941    0.00%    18.4%
                -------- ------  -------- ------  --------  ------  ------- 
  Checking                                                                  
   Total        $224,705   0.12% $192,350   0.11% $ 32,355    0.01%    16.8%
                                                                            
 Savings                                                                    
  Accounts      $203,181   0.33% $186,897   0.31% $ 16,284    0.02%     8.7%
 Money Market                                                               
  Accounts        54,445   0.15%   54,473   0.23%      (28)  -0.08%    -0.1%
                -------- ------  -------- ------  --------  ------  ------- 
                                                                            
 Total Smart                                                                
  Growth                                                                    
  Deposits      $482,331   0.21% $433,720   0.21% $ 48,611    0.00%    11.2%
                                                                            
 Time Deposits  $141,358   1.62% $160,656   2.24% $(19,298)  -0.62%   -12.0%
                                                                            
Total Deposits  $623,689   0.53% $594,376   0.76% $ 29,313   -0.23%     4.9%
                                                                            
 FHLB Advances  $131,845   3.04% $120,740   3.15% $ 11,105   -0.11      9.2%
                -------- ------  -------- ------  --------  ------  ------- 
                                                                            
Total Interest-                                                             
 bearing                                                                    
 liabilities    $659,321   1.11% $633,844   1.31% $ 25,477   -0.20%     4.0%
                ========         ========         ========                  
                                                                            
Non-interest                                                                
 bearing                                                                    
 Deposits       $ 96,213   0.00% $ 81,272   0.00% $ 14,941    0.00%    18.4%
                                                                            
                                                                            
                                                                            
Interest-bearing Liabilities: Linked Quarter Comparison                     
                                                                            
                      09/30/            06/30/                              
Average       09/30/   2012    06/30/    2012              Change           
 balances      2012    Avg.     2012     Avg.    Change     Avg.   %Balance 
(In 000's)   $Balance  Yield  $Balance  Yield   $Balance   Yield    Change  
------------ -------- ------  -------- -------  --------  -------  -------- 
NOW Accounts $124,017   0.22% $123,851    0.20% $    166     0.02%      0.1%
Non-interest                   
                                             
 bearing                                                                    
 Deposits      91,077   0.00%   93,721    0.00%   (2,644)    0.00%     -2.8%
             -------- ------  -------- -------  --------  -------  -------- 
  Checking                                                                  
   Total     $215,094   0.12% $217,572    0.12% $ (2,478)    0.00%     -1.1%
                                                                            
  Savings                                                                   
   Accounts  $198,079   0.33% $196,611    0.33% $  1,468     0.00%      0.7%
  Money                                                                     
   Market                                                                   
   Accounts    54,791   0.18%   52,489    0.25%    2,302    -0.07%      4.4%
             -------- ------  -------- -------  --------  -------  -------- 
                                                                            
  Total                                                                     
   Smart                                                                    
   Growth                                                                   
   Deposits  $467,964   0.22% $466,672    0.22% $  1,292     0.00%      0.3%
                                                                            
  Time                                                                      
   Deposits  $144,821   1.75% $150,537    1.92% $ (5,716)   -0.17%     -3.8%
                                                                            
  Total                                                                     
   Deposits  $612,785   0.58% $617,209    0.64% $ (4,424)   -0.06%     -0.7%
                                                                            
  FHLB                                                                      
   Advances  $141,565   2.85% $123,681    3.27% $ 17,884    -0.42%     14.5%
             -------- ------  -------- -------  --------  -------  -------- 
                                                                            
Total                                                                       
 Interest-                                                                  
 bearing                                                                    
 liabilities $663,273   1.14% $647,169    1.23% $ 16,104    -0.09%      2.5%
             --------         --------          --------                    
                                                                            
Non-interest                                                                
 bearing                                                                    
 Deposits    $ 91,077   0.00% $ 93,721    0.00% $ (2,644)    0.00%     -2.8%
                                                                            
                                                                            
                                                                            
Interest-bearing Liabilities: Average Quarter Balances                      
                                                                            
                      09/30/            09/30/                              
Average       09/30/   2012    09/30/    2011              Change           
 balances      2012    Avg.     2011     Avg.    Change     Avg.   %Balance 
 (In 000's)  $Balance  Yield  $Balance  Yield   $Balance   Yield    Change  
------------ -------- ------  -------- -------  --------  -------  -------- 
NOW Accounts $124,017   0.22% $108,579    0.14% $ 15,438     0.08%     14.2%
Non-interest                                                                
 bearing                                                                    
 Deposits      91,077   0.00%   87,454    0.00%    3,623     0.00%      4.1%
             -------- ------  -------- -------  --------  -------  -------- 
  Checking                                                                  
   Total     $215,094   0.12% $196,033    0.08% $ 19,061     0.04%      9.7%
                                                                            
  Savings                                                                   
   Accounts  $198,079   0.33% $191,840    0.33% $  6,239     0.00%      3.3%
  Money                                                                     
   Market                                                                   
   Accounts    54,791   0.18%   54,787    0.30%        4    -0.12%      0.0%
             -------- ------  -------- -------  --------  -------  -------- 
                                                                            
  Total                                                                     
   Smart                                                                    
   Growth                                                                   
   
Deposits  $467,964   0.22% $442,660    0.22% $ 25,304    0.00.%      5.7%
                                                                            
  Time                                                                      
   Deposits  $144,821   1.75% $165,284    2.25% $(20,463)   -0.50%    -12.4%
                                                                            
  Total                                                                     
   Deposits  $612,785   0.58% $607,944    0.77% $  4,841    -0.19%      0.8%
                                                                            
  FHLB                                                                      
   Advances  $141,565   2.85% $ 92,514    3.93% $ 49,051    -1.08%     53.0%
             -------- ------  -------- -------  --------  -------  -------- 
                                                                            
Total                                                                       
 Interest-                                                                  
 bearing                                                                    
 liabilities $663,273   1.14% $613,004    1.36% $ 50,269    -0.22%      8.2%
             --------         --------          --------                    
                                                                            
Non-interest                                                                
 bearing                                                                    
 Deposits    $ 91,077   0.00% $ 87,454    0.00% $  3,623     0.00%      4.1%
                                                                            
                                                                            
Quarter-End                                                                 
 Loan Quality     Total               %     Special    %                %   
 Details          Loans  Classified Total   Mention  Total    Pass    Total 
                                                                            
December 31,                                                                
 2012                                                                       
(In Thousands)                                                              
Commercial                                                                  
 Loans                                                                      
 Commercial                                                                 
  Land          $ 14,067 $    4,537  32.3% $      --   0.0% $  9,530   67.7%
 Commercial                                                                 
  Construction     7,486         --   0.0%       367   4.9%    7,119   95.1%
 Commercial                                                                 
  Real Estate    123,418      3,389   2.7%       863   0.7%  119,166   96.6%
 Commercial Non                                                             
  Real Estate     33,364        157   0.5%       227   0.7%   32,980   98.8%
                -------- ---------- -----  --------- -----  -------- ------ 
  Total                                                                     
   Commercial   $178,335 $    8,083   4.5% $   1,457   0.8% $168,795   94.7%
                                                                            
Residential                                                                 
 Loans                                                                      
 Residential                                                                
  Construction  $  9,622 $       --   0.0% $      --   0.0% $  9,622  100.0%
 Residential     376,546      4,252   1.1%       325   0.1%  371,969   98.8%
                -------- ---------- -----  --------- -----  -------- ------ 
  Total                                                                     
   Residential  $386,168 $    4,252   1.1% $     325   0.1% $381,591   98.8%
                                                                            
Consumer Loans                                                              
 Mobile Homes   $ 38,055 $      576   1.5% $      --   0.0% $ 37,479   98.5%
 Consumer Other   41,840        291   0.7%       195   0.5% $ 41,354   98.8%
                -------- ---------- -----  --------- -----  -------- ------ 
  Total                                                                     
   Consumer     $ 79,895 $      867   1.1% $     195   0.2% $ 78,833   98.7%
                                                                            
Total All Loans $644,398 $   13,202   2.0% $   1,977   0.3% $629,219   97.6%
                ======== ========== =====  ========= =====  ======== ====== 
                                                                            
                                                                            
                                                                            
Quarter-End Loan                                                            
 Quality Details                                                            
                                                                            
                     Total               %    Special   %               %   
September 30, 2012   Loans  Classified Total  Mention Total    Pass   Total 
                                                                            
(In Thousands)                                                              
Commercial Loans                                                            
  Commercial Land  $ 13,312 $    4,658  35.0% $    17   0.1% $  8,637  64.9%
  Commercial                                                                
   Construction       7,357         --   0.0%     370   5.0%    6,987  95.0%
  Commercial Real                                                           
   Estate           120,558      3,524   2.9%     872   0.7%  116,162  96.4%
  Commercial Non                                                            
   Real Estate       34,032        154   0.5%      50   0.1%   33,828  99.4%
                   -------- ---------- -----  ------- -----  -------- ----- 
    Total                                                                   
     Commercial    $175,259 $    8,336   4.8% $ 1,309   0.7% $165,614  94.5%
                                                                            
Residential Loans                                                           
  Residential                                                               
   Construction    $  9,478 $       --   0.0% $    --   0.0% $  9,478 100.0%
  Residential       413,500      4,561   1.1%     328   0.1%  408,611  98.8%
                   -------- ---------- -----  ------- -----  -------- ----- 
    Total                                                                   
     Residential   $422,978 $    4,561   1.1% $   328   0.1% $418,089  98.8%
                                                                         
   
Consumer Loans                                                              
  Mobile Homes     $ 37,030 $      424   1.1% $    --   0.0% $ 36,606  98.9%
  Consumer Other     41,110        254   0.6%     176   0.4% $ 40,680  99.0%
                   -------- ---------- -----  ------- -----  -------- ----- 
    Total Consumer $ 78,140 $      678   0.9% $   176   0.2% $ 77,286  98.9%
                                                                            
Total All Loans    $676,377 $   13,575   2.0% $ 1,813   0.3% $660,989  97.7%
                   ======== ========== =====  ======= =====  ======== ===== 

Contact: Patrick Little President & CEO Teche Holding Company (337) 560-7151

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