Teche Posts $1.15 EPS for First Quarter 2014

Teche Posts $1.15 EPS for First Quarter 2014  NEW IBERIA, LA -- (Marketwired) -- 02/04/14 --  (NYSE MKT: TSH) - Patrick Little, President and CEO of Teche Holding Company (the "Company"), holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended December 31, 2013, the first quarter of fiscal year 2014.  Earnings for the quarter ended December 31, 2013 amounted to $2.4 million, or $1.15 per diluted share. This is compared to $3.1 million, or $1.49 per diluted share, for the same quarter in fiscal 2013 that included an after-tax gain of $1.3 million from the sale of $46.3 million in mortgage loans. There was no similar transaction in this quarter ending December 31, 2013 resulting in a decrease of $0.34 per diluted share, or 22.8% compared to the prior year first quarter results.   "We had solid earnings this quarter on top of record EPS for the past five fiscal years," said Little. We had solid growth in the commercial, consumer, and mortgage loan categories.  The Company reported the following points of interest:      --  SmartGrowth Deposits increased 0.2% over the linked quarter-end and     2.0% compared to a year ago. SmartGrowth Deposits amounted to 77.1% of     total deposits at December 31, 2013, compared to 76.7% at September     30, 2013 and 77.7% a year ago. --  Checking Account Balances increased 4.1% compared to the linked     quarter-end and 10.6% compared to December 31, 2012. --  The average rate paid on all deposits was 0.40% for the quarter     compared to 0.40% for the linked quarter and 0.53% for the same     quarter in the prior fiscal year. --  Quarterly operating revenue decreased slightly to $11.9 million for     the current quarter, as compared to $12.0 million in the linked     quarter and $13.5 million a year ago. --  Tangible book value per share increased to $42.29, an increase of     1.5%, or $0.61, compared to September 30, 2013 and 6.1%, or $2.43,     year-over-year. --  Net charge offs for the quarter amounted to 0.02% of average loans.     Capital  Over the past twelve months, stockholders' equity increased 8.2% to a record $91.7 million at December 31, 2013, while assets increased 4.4% to $876.7 million. The tangible equity ratio at December 31, 2013 increased to 10.09%, compared to 9.70% a year ago. Tangible book value per common share increased to a record $42.29, an increase of 6.1% compared to a year ago. Risk based capital remained strong at 14.34%, and the equity to assets ratio increased to 10.46% from 10.09% a year ago.  During the quarter ended December 31, 2013, the Company did not repurchase any stock.                                                                                    ---------------------------------------------------------------------------- QUARTERLY COMPARISON            Dec '13  Sep '13  Jun '13  Mar '13  Dec '12  ---------------------------------------------------------------------------- Stockholders' Equity (in                                                      millions)                      $  91.7  $  89.1  $  86.7  $  86.6  $  84.8  Ratio of Equity to Assets         10.46%   10.40%   10.32%   10.07%   10.09% Basic Earnings Per Share        $  1.17  $  1.05  $  0.96  $  0.76  $  1.51  Tangible Equity Ratio             10.09%   10.01%    9.92%    9.69%    9.70% Total Risk-Based Capital Ratio    14.34%   14.31%   14.31%   14.38%   14.34% Book Value Per Common Share     $ 44.04  $ 43.47  $ 42.82  $ 42.40  $ 41.65  Tangible Book Value Per Common                                                Share                          $ 42.29  $ 41.68  $ 41.06  $ 40.62  $ 39.86  Total Assets (in millions)      $ 876.7  $ 856.7  $ 839.8  $ 860.3  $ 839.7     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 '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Net Charge-offs/Average Loans          0.02%   0.02%   0.01%   0.05%   0.07% ALLL*/NPLs                           229.00% 307.34% 158.84% 158.54%  87.76% ALLL*/NPAs                           200.43% 236.57% 132.76% 138.95%  81.52% ALLL*/Loans                            1.10%   1.15%   1.20%   1.26%   1.28% NPAs/Assets                            0.44%   0.39%   0.72%   0.68%   1.20%    *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 '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Beginning ALLL                       $ 7,868 $ 8,038 $ 8,135 $ 8,234 $ 8,559 Provision for Loan Losses                  0       0       0     250     150 Net Charge-offs                          159     170      97     349     475 Ending ALLL                          $ 7,709 $ 7,868 $ 8,038 $ 8,135 $ 8,234 Ending ALLL (net of specific                                                  reserves)                           $ 7,571 $ 7,730 $ 8,038 $ 8,135 $ 8,234    The allowance for loan losses was 1.10% of total loans, or $7.7 million, at December 31, 2013 compared to 1.15% of total loans, or $7.9 million, at September 30, 2013 and 1.28% of total loans, or $8.2 million, at December 31, 2012.  Net charge-offs for the quarter were $0.2 million, or 0.02% of average loans, compared to $0.5 million, or 0.07% of average loans, for the same period a year ago. For the twelve months ended December 31, 2013, net charge offs were $0.8 million, or 0.12% of average loans, compared to $1.9 million, or 0.29% of loans, for the twelve months ended December 31, 2012.   Non-performing assets increased slightly to $3.9 million, or 0.44% of total assets, at December 31, 2013 compared to $3.3 million, or 0.39% of total assets, at September 30, 2013 and $10.3 million, or 1.20% of total assets, a year ago. The increase from the linked quarter was due to slight increases in delinquent loans offset by lower balances on real estate owned. The decrease from one year ago was primarily due to lower commercial loan delinquencies.   Revenue                                                                                   ---------------------------------------------------------------------------- Net Interest Income                                                          QUARTERLY COMPARISON (In 000's)      Dec '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Interest Income                      $ 9,475 $ 9,463 $ 9,392 $ 9,002 $ 9,571 Interest Expense                       1,582   1,591   1,630   1,697   1,832                                      --------------------------------------- Net Interest Income                  $ 7,893 $ 7,872 $ 7,762 $ 7,305 $ 7,739                                      =======================================    Net interest income increased slightly compared to the linked quarter while increasing $0.2 million from the same quarter last year.                                                                                   ---------------------------------------------------------------------------- Net Interest Margin and Spread                                               QUARTERLY COMPARISON                 Dec '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Yield on Earning Assets                4.80%   4.91%   4.85%   4.66%   4.92% Cost of Interest Bearing Liabilities   0.96%   0.97%   1.00%   1.04%   1.11% Spread                                 3.85%   3.93%   3.86%   3.62%   3.80% Net Interest Margin                    4.00%   4.08%   4.01%   3.78%   3.98%    Net interest margin amounted to 4.00% for the three-month period ended December 31, 2013, compared to 3.98% for the three months ended December 31, 2012. The increase was primarily due to lower deposit rates offset somewhat by increased FHLB advance rates along with lower rates on both loans and investments.   Spread amounted to 3.85% for the three month period ended December 31, 2013, compared to 3.80% for the same period in the previous year. Compared to the same quarter last year, the average yield on earning assets decreased 12 basis points from 4.92% to 4.80%, while the average cost of funds decreased 15 basis points from 1.11% to 0.96%.  Operating Revenue  Operating revenue consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $11.9 million for the quarter ended December 31, 2013, compared to $13.5 million for the same quarter in 2012. The 2012 quarter included a $2.0 million before tax gain from the sale of $46.3 million in mortgage loans.  The table below reflects the Company's operating revenues in millions over the past five quarters:                                                                                   ---------------------------------------------------------------------------- Operating Revenue                                                            QUARTERLY COMPARISON (in millions)   Dec '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Net Interest Income                  $   7.9 $   7.9 $   7.8 $   7.3 $   7.7 Non Interest Income                      4.0     4.1     3.9     4.0     5.8                                      --------------------------------------- Operating Revenue                    $  11.9 $  12.0 $  11.7 $  11.3 $  13.5                                      =======================================    Non-Interest Income  Non-interest income was $4.0 million for the quarter ended December 31, 2013, as compared to $4.2 million in the linked quarter and $5.8 million for the same quarter in 2012. The 2012 quarter included a $2.0 million before tax gain from the sale of $46.3 million in mortgage loans. Non-interest income amounted to 1.86% of average assets for the quarter ended December 31, 2013 compared to 1.96% for the linked quarter and 2.73% a year ago.                                                                                    ---------------------------------------------------------------------------- Non-Interest Income & Expense                                                QUARTERLY COMPARISON (in thousands)  Dec '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Interchange fee Income               $  860  $  907  $  954  $  839  $  826  Other Non-Interest Income            $3,166  $3,247  $2,950  $3,132  $4,986  Total Non-Interest Income            $4,026  $4,154  $3,904  $3,971  $5,812  Total Non-Interest Income/Avg.                                                Assets                                1.86%   1.96%   1.84%   1.87%   2.73% Non-Interest Expense                 $8,450  $8,797  $8,737  $8,705  $8,752  Non-Interest Expense/Avg. Assets       3.90%   4.15%   4.11%   4.11%   4.11%    Non-Interest Expense  For the quarter ended December 31, 2013, non-interest expense was $8.5 million, or 3.90% of average assets, compared to $8.8 million, or 4.15% of average assets, in the linked quarter, which was a decrease of 3.9%, primarily due to decreases in compensation, marketing and professional expenses, partially offset by increases in occupancy expense. Compared to the same quarter in fiscal 2012, non-interest expense decreased by $0.3 million, or 3.5%, from $8.8 million to $8.5 million, which was primarily due to decreases in compensation, marketing and professional expenses, partially offset by increases in occupancy expense.  Net Income and Dividends  On November 20, 2013, the Board of Directors declared a $0.38 per share quarterly dividend. Based on the closing price of the Company's common stock of $50.13 per share on November 20, 2013, the annualized dividend yield was 3.03%. Since 2003, the Company has increased dividends for eleven consecutive years. During fiscal 2013, the Company declared dividends totaling $1.475 per share.                                                                                   ---------------------------------------------------------------------------- QUARTERLY COMPARISON                 Dec '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- Dividends Declared Per Share         $  0.38 $ 0.375 $  0.37 $  0.00 $  0.73 Basic Earnings Per Common Share      $  1.17 $  1.05 $  0.96 $  0.76 $  1.51 Diluted Earnings Per Common Share    $  1.15 $  1.03 $  0.95 $  0.75 $  1.49    Loans                                                                                   ---------------------------------------------------------------------------- QUARTERLY COMPARISON                                                         (in millions)                        Dec '13 Sep '13 Jun '13 Mar '13 Dec '12 ---------------------------------------------------------------------------- SmartGrowth Loans                                                              Consumer                           $ 134.1 $ 129.6 $ 122.4 $ 115.8 $ 113.4   Commercial                           233.5   224.2   216.9   212.4   220.5   Home Equity                           41.4    41.6    41.7    42.1    42.5   SmartMortgages                       115.3   113.6   110.6   104.0   100.8                                      ------- ------- ------- ------- ------- Total SmartGrowth Loans              $ 524.3 $ 509.0 $ 491.6 $ 474.3 $ 477.2   Mortgage Loans (owner occupied       179.5   175.4   176.2   169.0   165.4    conforming)                                                                                                    ------- ------- ------- ------- ------- Total Loans                          $ 703.8 $ 684.4 $ 667.8 $ 643.3 $ 642.6    Linked Quarter Comparison. Gross loans receivable increased to $703.8 million at December 31, 2013 from $684.4 million at September 30, 2013, an increase of $19.4 million or 2.8%, primarily due to increases in all loan categories with commercial loans experiencing the most growth with an increase of $9.3 million. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans, and consumer loans, were $524.3 million, or 74.5% of total loans, at December 31, 2013, compared to $509.0 million, or 74.4%, at September 30, 2013, a three month increase of $15.3 million, or 3.0%.  Commercial loan balances at December 31, 2013 amounted to $233.5 million compared to $224.2 million at September 30, 2013, a three month increase of $9.3 million, or 4.1%. Consumer loan balances at December 31, 2013 amounted to $134.1 million compared to $129.6 million at September 30, 2013, a linked quarter increase of $4.5 million, or 3.5%.   One Year Comparison. Gross loans receivable increased to $703.8 million at December 31, 2013 from $642.6 million at December 31, 2012, a twelve month increase of $61.2 million, or 9.5%. SmartGrowth Loans increased to $524.3 million at December 31, 2013 from $477.2 million at December 31, 2012, a twelve month increase of $47.1 million, or 9.9%.   Commercial loan balances at December 31, 2013 amounted to $233.5 million compared to $220.5 million at December 31, 2012, a twelve month increase of $13.0 million, or 5.9%. Consumer loan balances at December 31, 2013 amounted to $134.1 million, compared to $113.4 million at December 31, 2012, a twelve month increase of $20.7 million, or 18.3%.  "We made over $52.7 million in loans this quarter," said Little, "including $49.6 million in SmartGrowth loans. The Southwest Louisiana region is a great area with a growing economy and low unemployment."  Deposits                                                                                   ---------------------------------------------------------------------------- QUARTERLY COMPARISON                                                         (in millions)                   Dec '13  Sep '13  Jun '13  Mar '13  Dec '12  ---------------------------------------------------------------------------- SmartGrowth Deposits                                                           Checking                      $ 255.4  $ 245.4  $ 252.3  $ 259.0  $ 230.8    Money Market                     44.9     50.7     49.7     52.1     55.0    Savings                         199.8    203.0    209.9    210.6    204.2                                  -------  -------  -------  -------  -------  Total SmartGrowth Deposits      $ 500.1  $ 499.1  $ 511.9  $ 521.7  $ 490.0  Time Deposits                     148.4    151.7    135.5    138.7    140.6                                  -------  -------  -------  -------  -------  Total Deposits                  $ 648.5  $ 650.8  $ 647.4  $ 660.4  $ 630.6  Avg. Yield on Deposits             0.40%    0.40%    0.41%    0.45%    0.53% Avg. Yield on Checking             0.07%    0.07%    0.07%    0.10%    0.12%    Linked Quarter Comparison. Total deposits decreased to $648.5 million at December 31, 2013 from $650.8 million at September 30, 2013, a linked quarter decrease of $2.3 million, or 0.4%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts, increased $1.0 million, or 0.2%, to $500.1 million at December 31, 2013, from $499.1 million at September 30, 2013.  Checking account balances at December 31, 2013 increased $10.0 million, or 4.1%, to $255.4 million from $245.4 million at September 30, 2013.  One Year Comparison. Total deposits increased to $648.5 million at December 31, 2013 from $630.6 million at December 31, 2012, a twelve month increase of $17.9 million, or 2.8%. Total SmartGrowth Deposits increased $10.1 million, or 2.1%, from $490.0 million at December 31, 2012 to $500.1 million at December 31, 2013.  SmartGrowth Deposits amounted to 77.1% of total deposits as of December 31, 2013, compared to 77.7% at December 31, 2012.  Checking account balances have increased 10.7%, or $24.6 million, in the past 12 months from $230.8 million at December 31, 2012 to $255.4 million at December 31, 2013. Checking account balances at December 31, 2013 accounted for 39.4% of total deposits, compared to 36.6% at December 31, 2012.  Teche Holding Company is the parent company of Teche Federal Bank, which operates twenty offices in South Louisiana and serves over 86,000 customers. Teche is the fourth largest publicly traded bank holding company based in Louisiana with over $876 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.  As previously announced, on January 12, 2014, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with IBERIABANK Corporation ("IBKC"), the parent company of IBERIABANK. Under the Merger Agreement, subject to the receipt of shareholder and regulatory approval and the satisfaction of certain other conditions, the Company will merge with and into IBKC (the "Merger") after which Teche Federal Bank is expected to merge with and into IBERIABANK. As a result of the Merger, each share of Company common stock will be exchanged for 1.162 shares of IBKC common stock, subject to adjustment as set forth in the Merger Agreement.  Important Additional Information.  This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the Merger, IBKC will file with the Securities and Exchange Commission ("SEC") a registration statement on Form S-4 that will include a proxy statement/prospectus for the shareholders of the Company. The Company will mail the final proxy statement/prospectus to its shareholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE MERGER AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. The proxy statement/prospectus, as well as other filings containing information about IBKC and the Company, will be available without charge, at the SEC's Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, when available, without charge, from IBKC's website (http://www.iberiabank.com), under the heading "Investor Information" and on the Company's website (http://www.teche.com).  IBKC and the Company, and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of the Company in respect of the Merger. Information regarding the directors and executive officers of IBKC, including their beneficial ownership of IBKC's common stock, is set forth in the definitive proxy statement for IBKC's 2013 annual meeting of shareholders, as filed with the SEC on April 12, 2013 and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. Information regarding the directors and executive officers of the Company, including their beneficial ownership of the Company's common stock, is set forth in the definitive proxy statement for the Company's 2014 annual meeting of shareholders, as filed with the SEC on December 30, 2013 and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. Additional information regarding the interests of such participants will be included in the proxy statement/prospectus and other relevant documents regarding the Merger filed with the SEC when they become available.  Caution About Forward-Looking Statements  This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue," and "potential" or the negative of these terms or other comparable terminology. Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to, the possibility that expected benefits may not materialize in the time frame expected or at all, or may be more costly to achieve, that the Merger may not be timely completed, if at all, that prior to completion of the Merger or thereafter, IBKC's and the Company's respective business may not perform as expected due to transaction-related uncertainties or other factors; that the parties are unable to implement successful integration strategies; that the required regulator, shareholder, or other closing conditions are not satisfied in a timely manner, or at all, reputational risks and the reaction of the parties' customers to the Merger; diversion of management time to Merger-related issues, and other factors and risk influences contained in the cautionary language included under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in IBKC's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013 and other documents subsequently filed by IBKC with the SEC and under "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2013, and other documents subsequently filed by the Company with the SEC. Consequently, no forward-looking statement can be guaranteed. Neither IBKC nor the Company undertakes any obligation to update or revise any forward-looking statements, whether as a result of all information, future events or otherwise. For any forward-looking statements made in this press release or any related documents, protection under the safe harbor for forward-looking statements contained in the Private  Securities Litigation Reform Act of 1995 is being claimed.                                                                                                                                                                                           TECHE HOLDING COMPANY                                            (Dollars in thousands, except per share data)                                                New Iberia, LA                                                            Statements of Income                                                             (UNAUDITED)                                                                                                                                                         THREE MONTHS ENDED                                            ------------------------------------------------                                                                               Condensed Statements of      Dec.      Sep.      Jun.      Mar.      Dec.     Income                      2013      2013      2013      2013      2012                               --------  --------  --------  --------  --------  Interest Income            $  9,475  $  9,463  $  9,392  $  9,002  $  9,571  Interest Expense              1,582     1,591     1,630     1,697     1,832                             --------  --------  --------  --------  --------  Net Interest Income           7,893     7,872     7,762     7,305     7,739  Provision for Loan Losses         -         -         -       250       150                             --------  --------  --------  --------  --------  Net Interest Income after                                                     Provision for Loan Losses    7,893     7,872     7,762     7,055     7,589  Non Interest Income           4,026     4,154     3,904     3,971     5,812  Non Interest Expense          8,450     8,797     8,737     8,705     8,752                             --------  --------  --------  --------  --------  Income Before Income Taxes    3,469     3,229     2,929     2,321     4,649  Income Taxes                  1,054     1,082       976       762     1,577                             --------  --------  --------  --------  --------  Net Income                 $  2,415  $  2,147  $  1,953  $  1,559  $  3,072                             --------  --------  --------  --------  --------  Selected Financial Data                                                                                 --------  --------  --------  --------  --------  Dividends Declared Per                                                        Share                     $   0.38  $  0.375  $   0.37  $   0.00  $   0.73  Basic Earnings Per Common                                                     Share                     $   1.17  $   1.05  $   0.96  $   0.76  $   1.51  Diluted Earnings Per                                                          Common Share              $   1.15  $   1.03  $   0.95  $   0.75  $   1.49  Annualized Return on Avg.                                                     Assets                        1.11%     1.01%     0.92%     0.74%     1.44% Annualized Return on Avg.                                                     Equity                       10.49%     9.63%     8.89%     7.19%    14.17% Annualized Return on Avg.                                                     Tangible Equity (1)          10.93%    10.05%     9.27%     7.52%    14.80% Yield on Interest Earning                                                     Assets                        4.80%     4.91%     4.85%     4.66%     4.92% Cost of Interest Bearing                                                      Liabilities                   0.96%     0.97%     1.00%     1.04%     1.11% Spread                         3.85%     3.93%     3.86%     3.62%     3.80% Net Interest Margin            4.00%     4.08%     4.01%     3.78%     3.98% Non-Interest Income/Avg.                                                      Assets                        1.86%     1.96%     1.84%     1.87%     2.73% Non-Interest Expense/Avg.                                                     Assets                        3.90%     4.15%     4.11%     4.11%     4.11% Quarterly Net Charge-                                                         offs/Avg. Loans               0.02%     0.02%     0.01%     0.05%     0.07% Weighted avg. shares                                                          Outstanding                                                                   Basic                       2,059     2,036     2,030     2,038     2,039    Diluted                     2,098     2,078     2,064     2,066     2,064  AVERAGE BALANCE SHEET DATA                                                                              --------  --------  --------  --------  --------  Total Assets               $867,027  $847,261  $849,265  $847,615  $851,126  Earning assets             $789,228  $771,019  $773,856  $772,248  $778,592  Loans                      $695,696  $676,957  $655,058  $641,192  $667,191  Interest-bearing deposits  $548,762  $549,331  $547,249  $538,889  $527,476  Total deposits             $653,539  $646,746  $648,985  $640,504  $623,689  Total stockholders' equity $ 92,067  $ 89,187  $ 87,892  $ 86,682  $ 86,713                                                                               (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                    $ 92,067  $ 89,187  $ 87,892  $ 86,682  $ 86,713  Less average goodwill and                                                     other intangible assets,                                                     net of related income                                                        taxes                        3,652     3,653     3,655     3,656     3,657                             --------  --------  --------  --------  --------  Average Tangible Equity    $ 88,415  $ 85,534  $ 84,237  $ 83,026  $ 83,056                             ========  ========  ========  ========  ========                                                                               Net Income                 $  2,415  $  2,147  $  1,953  $  1,559  $  3,072  Plus Amortization of core                                                     deposit intangibles, net                                                     of related income taxes          1         1         1         1         1                             --------  --------  --------  --------  --------  Net Income, as adjusted    $  2,416  $  2,148  $  1,954  $  1,560  $  3,073                             ========  ========  ========  ========  ========                                                                                                                                                                                                                                                                                                                                                 TECHE HOLDING COMPANY                                            (Dollars in thousands, except per share data)                                                New Iberia, LA                                                               Balance Sheet                                                                 (UNAUDITED)                                                                                                                                            Dec.      Sep.      Jun.      Mar.      Dec.                                 2013      2013      2013      2013      2012                               --------  --------  --------  --------  --------  SmartGrowth Loans                                                              Consumer                 $134,090  $129,571  $122,379  $115,803  $113,365    Commercial                233,459   224,217   216,887   212,359   220,463    Home Equity                41,451    41,628    41,737    42,107    42,546    SmartMortgage Loans       115,261   113,561   110,586   104,040   100,859                             --------  --------  --------  --------  --------  Total SmartGrowth Loans     524,261   508,977   491,589   474,309   477,233    Mortgage Loans (owner                                                         occupied conforming)     179,524   175,426   176,188   168,989   165,364                             --------  --------  --------  --------  --------                              703,785   684,403   667,777   643,298   642,597  Allowance for Loan Losses    (7,709)   (7,868)   (8,038)   (8,135)   (8,234)                            --------  --------  --------  --------  --------  Loans Receivable, Net       696,076   676,535   659,739   635,163   634,363                                                                               Cash and Securities         116,809   116,511   116,709   162,262   142,406  Goodwill and Other                                                            Intangibles                  3,652     3,653     3,654     3,656     3,657  Foreclosed Real Estate          467       741       950       639       697  Other                        59,719    59,224    58,769    58,609    58,575                             --------  --------  --------  --------  --------  TOTAL ASSETS               $876,723  $856,664  $839,821  $860,329  $839,698                             ========  ========  ========  ========  ========                                                                               SmartGrowth Deposits                                                           Checking                 $255,347  $245,392  $252,278  $259,014  $230,845    Money Market               44,902    50,652    49,768    52,077    54,955    Savings                   199,833   203,010   209,896   210,636   204,241                             --------  --------  --------  --------  --------  Total Smart Growth                                                            Deposits                   500,082   499,054   511,942   521,727   490,041  Time Deposits               148,393   151,737   135,490   138,728   140,598                             --------  --------  --------  --------  --------  Total Deposits              648,475   650,791   647,432   660,455   630,639                                                                               FHLB Advances               129,123   108,997    98,757   107,903   117,034  Other Liabilities             7,388     7,815     6,971     5,340     7,258  Stockholders' Equity         91,737    89,061    86,661    86,631    84,767                             --------  --------  --------  --------  --------  TOTAL LIABILITIES AND                                                        STOCKHOLDERS' EQUITY       $876,723  $856,664  $839,821  $860,329  $839,698                             ========  ========  ========  ========  ========                                                                               Ratio of Equity to Assets     10.46%    10.40%    10.32%    10.07%    10.09% Tangible Equity Ratio         10.09%    10.01%     9.92%     9.69%     9.70% Total Risk-Based Capital                                                      Ratio                        14.34%    14.31%    14.31%    14.38%    14.34% Book Value per Common                                                         Share                     $  44.04  $  43.47  $  42.82  $  42.40  $  41.65  Tangible Book Value Per                                                       Common Share (1)          $  42.29  $  41.68  $  41.06  $  40.62  $  39.86  Shares Outstanding (in                                                        thousands)                   2,083     2,049     2,024     2,043     2,035  Non-performing                                                                Assets/Total Assets           0.44%     0.39%     0.72%     0.68%     1.20% ALLL/Loans                     1.10%     1.15%     1.20%     1.26%     1.28% ALLL/NPLs                    229.00%   307.34%   158.84%   158.54%    87.76%                                                                              (1) Eliminates the effect of goodwill and the core deposit intangible         assets and the related amortization expense on a tax affected basis. The     amount was calculated using the following information.                                                                                                                                                                                Stockholders' Equity       $ 91,737  $ 89,061  $ 86,661  $ 86,631  $ 84,767  Less goodwill and other                                                       Intangible assets, net of                                                    related income taxes        (3,652)   (3,651)   (3,651)   (3,654)   (3,656)                            --------  --------  --------  --------  --------  Tangible Stockholders'                                                        Equity                    $ 88,085  $ 85,410  $ 83,010  $ 82,977  $ 81,111                             ========  ========  ========  ========  ========                                                                               Total Assets               $876,723  $856,664  $839,821  $860,329  $839,698  Less goodwill and other                                                       Intangible assets, net of                                                    related income taxes        (3,652)   (3,651)   (3,651)   (3,654)   (3,656)                            --------  --------  --------  --------  --------  Total Tangible Assets      $873,071  $853,013  $836,170  $856,675  $836,042                             ========  ========  ========  ========  ========                                                                                                                                                                                                                                                                    TECHE HOLDING COMPANY                                            (Dollars in thousands, except per share data)                                                New Iberia, LA                                                            Annual Balance Sheet                                                             (UNAUDITED)                                                                                                                                                      Dec.      Dec.      Dec.      Dec.                                           2013      2012      2011      2010                                         --------  --------  --------  --------  SmartGrowth Loans                                                              Consumer                           $134,090  $113,365  $107,399  $111,139    Commercial                          233,459   220,463   213,659   208,797    Home Equity                          41,451    42,546    47,261    52,182    SmartMortgage Loans                 115,261   100,859    98,221    89,389                                       --------  --------  --------  --------  Total SmartGrowth Loans               524,261   477,233   466,540   461,507  Mortgage Loans (owner occupied                                                conforming)                          179,524   165,364   166,088   132,224                                       --------  --------  --------  --------                                        703,785   642,597   632,628   593,731  Allowance for Loan Losses              (7,709)   (8,234)   (8,392)   (9,953)                                      --------  --------  --------  --------  Loans Receivable, Net                 696,076   634,363   624,236   583,778                                                                               Cash and Securities                   116,809   142,406   130,126   110,405  Goodwill and Other Intangibles          3,652     3,657     3,667     3,682  Foreclosed Real Estate                    467       697     1,012     2,079  Other                                  59,719    58,575    54,504    53,757                                       --------  --------  --------  --------  TOTAL ASSETS                         $876,723  $839,698  $813,545  $753,701                                       ========  ========  ========  ========                                                                               SmartGrowth Deposits                                                           Checking                           $255,347  $230,845  $199,021  $186,240    Money Market                         44,902    54,955    52,019    55,557    Savings                             199,833   204,241   188,303   169,326                                       --------  --------  --------  --------  Total Smart Growth Deposits           500,082   490,041   439,343   411,123  Time Deposits                         148,393   140,598   159,968   172,316                                       --------  --------  --------  --------  Total Deposits                        648,475   630,639   599,311   583,439                                                                               FHLB Advances                         129,123   117,034   127,621    87.756  Other Liabilities                       7,388     7,258     5,501     6,009  Stockholders' Equity                   91,737    84,767    81,112    76,497                                       --------  --------  --------  --------  TOTAL LIABILITIES AND                                                        STOCKHOLDERS' EQUITY                 $876,723  $839,698  $813,545  $753,701                                       ========  ========  ========  ========                                                                               Ratio of Equity to Assets               10.46%    10.09%     9.97%    10.15% Tangible Equity Ratio                   10.09%     9.70%     9.56%     9.71% Total Risk-Based Capital Ratio          14.34%    14.34%    14.09%    13.79% Book Value per Common Share          $  2,083  $  41.65  $  39.24  $  36.81  Tangible Book Value Per Common Share                                          (1)                                 $  42.29  $  39.86  $  37.47  $  35.04  Non-performing Assets/Total Assets       0.44%     1.20%     1.53%     2.27% ALLL/Loans                               1.10%     1.28%     1.33%     1.68% ALLL/NPLs                              229.00%    87.76%    73.72%    66.36% Shares Outstanding (in thousands)       2,083     2,035     2,067     2,078                                                                               (1) Eliminates the effect of goodwill and the core deposit intangible         assets and the related amortization expense.                                                                                                                                                                                          Stockholders' Equity                 $ 91,737  $ 84,767  $ 81,112  $ 76,497  Less goodwill and other Intangible                                            assets, net of related income taxes   (3,652)   (3,656)   (3,657)   (3,670)                                      --------  --------  --------  --------  Tangible Stockholders' Equity        $ 88,085  $ 81,111  $ 77,455  $ 72,827                                       ========  ========  ========  ========                                                                               Total Assets                         $876,723  $839,698  $813,545  $753,701  Less goodwill and other Intangible                                            assets, net of related income taxes   (3,652)   (3,656)   (3,657)   (3,670)                                      --------  --------  --------  --------  Total Tangible Assets                $873,071  $836,042  $809,888  $750,031                                       ========  ========  ========  ========                                                                                                                                                                                                                                         Quarter-End Loan Data                                    90 Days             December 31, 2013                     Net       Net         +     90 Days +  (In 000's)                  Total   Charge-   Charge-      Non       Non                                 Loans    Offs      Offs      Accrual   Accrual                              Dollars  Dollars Percentage   Dollars Percentage                            -------- -------- ----------  -------- ----------  Real Estate Loans                                                              Construction            $ 16,905 $     --       0.00% $     --        0.0%   Permanent, Secured by:                                                         1-4 Dwelling Units:                                                            Revolving, Open-End                                                           Loans (HELOC)        23,851       --       0.00%       19        0.1%       All Other                                                                      Secured by First                                                              Liens             385,752       68       0.02%    3,075        0.8%         Secured by Junior                                                             Liens               5,449       --       0.00%       --        0.0%     Multifamily (5+                                                               Dwelling Units)        23,962       --       0.03%       --        0.0%     Nonresidential                                                                Property (Except                                                             Land)                 113,873       --       0.06%       --        0.0%     Land                    31,400       --       0.00%      105        0.3%                           -------- -------- ----------  -------- ----------          Consumer            21,292       --       0.00%      105        0.5%                           -------- -------- ----------  -------- ----------          Commercial          10,108       --       0.00%       --        0.0%                           -------- -------- ----------  -------- ----------  Subtotal - Real Estate                                                        Loans                    $601,192 $     68       0.01% $  3,199        0.5%                           -------- -------- ----------  -------- ----------                                                                               Non-Real Estate Loans:                                                         Commercial Loans        $ 33,365       --         --        --        0.0%   Consumer Loans:                                                                  Loans on Deposits      3,300       --         --        26        0.8%       Auto Loans             2,798       --         --        14        0.5%       Mobile Home Loans     45,182       33       0.07%      308        0.7%       Other                 17,948       58       0.32%       37        0.2%                           -------- -------- ----------  --------             Subtotal - Non Real                                                           Estate Loans             $102,593 $     91       0.09% $    385        0.4%                           -------- -------- ----------  -------- ----------                                                                               Gross Loans               $703,785 $    159       0.02% $  3,584        0.5%                           ======== ======== ----------  ======== ----------                                                                               Non-accruals              $  3,234                                           90 + Days Past Due             350                                           OREO & Foreclosed              480                                                                     --------                                             Nonperforming Assets                                                          (Net)                  $  4,064                                                                     ========                                             Performing TDRs               --                                                                                                                                                                                                                                                                                                                                                               Quarter-End Loan Data                                    90 Days             September 30, 2013                  Net        Net          +     90 Days +  (In 000's)                Total   Charge-    Charge-       Non       Non                               Loans    Offs       Offs       Accrual   Accrual                            Dollars  Dollars  Percentage    Dollars Percentage                          -------- --------  ----------   -------- ----------  Real Estate Loans                                                              Construction          $ 13,704 $     --        0.00%  $     --        0.0%   Permanent, Secured                                                            by:                                                                           1-4 Dwelling Units:                                                            Revolving, Open-                                                              End Loans                                                                    (HELOC)            22,939       --        0.00%         7        0.0%       All Other                                                                      Secured by                                                                    First Liens     378,800       94        0.02%     2,319        0.7%         Secured by                                                                    Junior Liens      5,909       --        0.00%        --        0.0%     Multifamily (5+                                                               Dwelling Units)      22,432        7        0.03%        --        0.0%     Nonresidential                                                                Property (Except                                                             Land)               111,217       62        0.06%        --        0.0%     Land                  31,710       --        0.00%        63        0.2%                         -------- --------  ----------   -------- ----------          Consumer          21,361       --        0.00%        63        0.3%                         -------- --------  ----------   -------- ----------          Commercial        10,349       --        0.00%        --        0.0%                         -------- --------  ----------   -------- ----------  Subtotal - Real Estate                                                        Loans                  $586,711 $    163        0.03%  $  2,389        0.4%                         -------- --------  ----------   -------- ----------                                                                               Non-Real Estate Loans:                                                         Commercial Loans      $ 30,685 $    (16)      (0.05%)       --        0.0%   Consumer Loans:                                                                Loans on Deposits      3,208       --          --         48        1.5%     Auto Loans             2,795       --          --         12        0.4%     Mobile Home Loans     43,199       17        0.04%       246        0.6%     Other                 17,806        6        0.03%        83        0.5%                         -------- --------  ----------   --------             Subtotal - Non Real                                                           Estate Loans           $ 97,693 $      7        0.01%  $    389        0.4%                         -------- --------  ----------   -------- ----------                                                                               Gross Loans             $684,404 $    170        0.02%  $  2,778        0.4%                         ======== ========  ----------   ======== ----------                                                                               Non-accruals            $  2,425                                             90 + Days Past Due           353                                             OREO & Foreclosed            766                                                                     --------                                               Nonperforming Assets                                                          (Net)                $  3,544                                                                     ========                                               Performing TDRs             --                                                                                                                                                                                                                                                                                                                                                                 Loans: Linked                                                                 Quarter                                                                      Comparison                                                                  Average Loan                                                                 Balances &                                                                    Yields (In    12/31/2013 12/31/2013  09/30/2013 09/30/2013   Change Change   000's)          Balance     Yield      Balance     Yield    Balance  Yield                 ---------- ----------  ---------- ----------  ------- ------  Real Estate                                                                   Loans                                                                         1-4 Family   $  425,721       4.63% $  417,925       4.78% $ 7,796  -0.15%   Commercial      147,942       4.98%    141,727       4.96%   6,215   0.02%                ----------             ----------             -------                           573,663       4.72%    559,652       4.83%  14,011  -0.11%                                                                              Non-Real                                                                      Estate Loans                                                                  Commercial   $   32,156       5.23% $   30,588       5.31% $ 1,568  -0.08%   Consumer         89,877       8.57%     86,717       8.92%   3,160  -0.35%                ----------             ----------             -------                           122,033       7.69%    117,305       7.98%   4,728  -0.29%                                                                              Total All                                                                     Loans         $  695,696       5.24% $  676,957       5.37% $18,739  -0.13%                ==========             ==========             =======                                                                                                                                                                   Prior Year                                                                    Comparison                                                                  Average Loan                                                                  Balances &                                                                   Yields (In    12/31/2013 12/31/2013  12/31/2012 12/31/2012   Change Change   000's)          Balance     Yield      Balance     Yield    Balance  Yield                 ---------- ----------  ---------- ----------  ------- ------  Real Estate                                                                   Loans                                                                           1-4 Family $  425,721       4.63% $  416,485       4.84% $ 9,236  -0.21%     Commercial    147,942       4.98%    136,251       5.25%  11,691  -0.27%                ----------             ----------             -------                           573,663       4.72%    552,736       4.94% $20,927  -0.22%                                                                              Non-Real                                                                      Estate Loans                                                                  Commercial   $   32,156       5.23% $   35,093       5.41% $(2,937) -0.18%   Consumer         89,877       8.57%     79,362       9.05%  10,515  -0.48%                ----------             ----------             -------                           122,033       7.69%    114,455       7.93%   7,578  -0.24%                                                                              Total All                                                                     Loans         $  695,696       5.24% $  667,191       5.45% $28,505  -0.21%                ==========             ==========             =======                                                                                                                                                                                                                                                                                                                             Loans: Linked                                                                 Quarter                                                                      Comparison                                                                  Average Loan                                                                 Balances &                                                                    Yields (In    09/30/2013 09/30/2013  06/30/2013 06/30/2013   Change Change   000's)          Balance     Yield      Balance     Yield    Balance  Yield                 ---------- ----------  ---------- ----------  ------- ------  Real Estate                                                                   Loans                                                                         1-4 Family   $  417,925       4.78% $  405,580       4.89% $12,345  -0.11%   Commercial      141,727       4.96%    136,246       5.02%   5,481  -0.06%                ----------             ----------             -------         Total Real                                                                    Estate Loans  $  559,652       4.83% $  541,826       4.92% $17,826  -0.09%                                                                              Non-Real                                                                      Estate Loans                                                                  Commercial   $   30,588       5.31% $   30,088       5.15% $   500  -0.16%   Consumer         86,717       8.92%     83,144       9.26%   3,573  -0.34%                ----------             ----------             -------         Total Non-Real                                                                Estate Loans     117,305       7.98%    113,232       8.17% $ 4,073  -0.19%                                                                              Total All                                                                     Loans         $  676,957       5.37% $  655,058       5.48% $21,899  -0.11%                ==========             ==========             =======                                                                                                                                                                   Loans: Prior                                                                  Year                                                                         Comparison                                                                  Average Loan                                                                 Balances &                                                                    Yields (In    09/30/2013 09/30/2013  09/30/2012 09/30/2012   Change Change   000's)          Balance     Yield      Balance     Yield    Balance  Yield                 ---------- ----------  ---------- ----------  ------- ------  Real Estate                                                                   Loans                                                                         1-4 Family   $  408,585       4.82% $  401,968       5.08% $ 6,617  -0.26%   Commercial      137,275       5.05%    135,300       5.51%   1,975  -0.46%                ----------             ----------             -------                        $  545,860       4.87% $  537,268       5.19% $ 8,592  -0.32%                                                                              Non-Real                                                                      Estate Loans                                                                  Commercial   $   31,893       5.23% $   28,543       5.79% $ 3,350  -0.56%   Consumer         82,465       9.04%     77,413       9.21%   5,052  -0.17%                ----------             ----------             -------                        $  114,358       7.98% $  105,956       8.29% $ 8,402  -0.31%                                                                              Total All                                                                     Loans         $  660,218       5.41% $  643,224       5.70% $16,994  -0.29%                ==========             ==========             =======                                                                                                                                                                                                                                                                                                                             Interest-bearing Liabilities: Linked Quarter Comparison                      Average balances             12/31/2013 12/31/2013   9/30/2013   9/30/2013   (In 000's)                    $Balance  Avg. Yield    $Balance  Avg. Yield                               ----------- ----------  ----------- ----------     NOW Accounts              $   148,451       0.12% $   144,813       0.12%    Non-interest bearing                                                          Deposits                     104,777       0.00%      97,415       0.00%                              ----------- ----------  ----------- ----------       Checking Total          $   253,228       0.07% $   242,228       0.07%                                                                                 Savings Accounts          $   200,626       0.11% $   205,634       0.11%    Money Market Accounts          49,639       0.06%      50,539       0.06%                              ----------- ----------  ----------- ----------                                                                                  Total Smart Growth                                                            Deposits                 $   503,493       0.08% $   498,401       0.08%                                                                                 Time Deposits             $   150,046       1.47% $   148,345       1.47%                                                                                 Total Deposits                                     646,74425,                                          $   653,539       0.40% $      7216       0.40%                                                                                 FHLB Advances             $   113,744       3.25% $   103,833       3.62%                              ----------- ----------  ----------- ----------                                                                                Total Interest-bearing                                                        liabilities                $   662,506       0.96% $   653,164       0.97%                              ===========             ===========                                                                                           Non-interest bearing                                                          Deposits                   $   104,777       0.00% $    97,415       0.00%                                                                                                                                                            Interest-bearing Liabilities: Prior Year Comparison                          Average balances             12/31/2013 12/31/2013   12/31/2012 12/31/2012   (In 000's)                    $Balance  Avg. Yield    $Balance  Avg. Yield                               ----------- ----------  ----------- ----------     NOW Accounts              $   148,451       0.12% $   128,492       0.22%    Non-interest bearing                                                          Deposits                     104,777       0.00%      96,213       0.00%                              ----------- ----------  ----------- ----------       Checking Total          $   253,228       0.07% $   224,705       0.12%                                                                                 Savings Accounts          $   200,626       0.11% $   203,181       0.33%    Money Market Accounts          49,639       0.06%      54,445       0.15%                              ----------- ----------  ----------- ----------                                                                                  Total Smart Growth                                                            Deposits                 $   503,493       0.08% $   482,331       0.21%                                                                                 Time Deposits             $   150,046       1.47% $   141,358       1.62%                                                                               Total Deposits              $   653,539       0.40% $   623,689       0.53%                                                                                 FHLB Advances             $   113,744       3.25% $   131,845       3.04%                              ----------- ----------  ----------- ----------                                                                                Total Interest-bearing                                                        liabilities                $   662,506       0.96% $   659,321       1.11%                              ===========             ===========                                                                                           Non-interest bearing                                                          Deposits                   $   104,777       0.00% $    96,213       0.00%                                                                                                                                                                                                                                                                                              Interest-bearing Liabilities: Linked Quarter Comparison         Average balances              Change      Change     %Balance   (In 000's)                   $Balance   Avg. Yield    Change                               -----------  ----------  ----------    NOW Accounts             $     3,638        0.00%               Non-interest bearing                                             Deposits                      7,362        0.00%                                        -----------  ----------  ----------      Checking Total         $    11,000        0.00%                                                                               Savings Accounts         $    (5,009)       0.00%               Money Market Accounts           (900)       0.00%                                        -----------  ----------  ----------                                                                    Total Smart Growth                                               Deposits                $     5,092        0.08%                                                                               Time Deposits            $     1,701        0.00%                                                                               Total Deposits           $     6,793        0.00%                                                                               FHLB Advances            $     9,911       -0.37%                                        -----------  ----------  ----------                                                                  Total Interest-bearing                                           liabilities               $     9,342       -0.01%                                        ===========                                                                                          Non-interest bearing                                             Deposits                  $     7,362        0.00%                                                                                                                                             Interest-bearing Liabilities: Prior Year Comparison             Average balances              Change      Change     %Balance   (In 000's)                   $Balance   Avg. Yield    Change                               -----------  ----------  ----------    NOW Accounts             $    19,959       -0.10%       15.5%   Non-interest bearing                                             Deposits                      8,564        0.00%        8.9%                            -----------  ----------  ----------      Checking Total         $    28,523       -0.05%       12.7%                                                                   Savings Accounts         $    (2,555)      -0.22%       -1.3%   Money Market Accounts    $    (4,806)      -0.09%       -8.8%                            -----------  ----------  ----------                                                                    Total Smart Growth                                               Deposits                $    21,162       -0.13%        4.4%                                                                   Time Deposits            $     8,688       -0.15%        6.1%                                                                 Total Deposits             $    29,850       -0.13%        4.8%                                                                   FHLB Advances            $   (18,101)      -0.21%      -13.7%                            -----------  ----------  ----------                                                                  Total Interest-bearing                                           liabilities               $     3,185       -0.15%        0.5%                            ===========                                                                                          Non-interest bearing                                             Deposits                  $     8,564        0.00%        8.9%                                                                                                                                                                                                                                                                                           Interest-bearing Liabilities: Linked Quarter Comparison                      Average balances              09/30/2013 09/30/2013  06/30/2013 06/30/2013   (In 000's)                     $Balance  Avg. Yield   $Balance  Avg. Yield                                 ---------- ----------  ---------- ----------     NOW Accounts                $  144,813       0.12% $  147,593       0.17%    Non-interest bearing                                                          Deposits                       97,415       0.00%    101,736       0.00%                                ---------- ----------  ---------- ----------       Checking Total            $  242,228       0.07% $  249,329       0.10%                                                                                 Savings Accounts            $  205,634       0.11% $  211,168       0.13%    Money Market Accounts           50,539       0.06%     51,260       0.09%                                ---------- ----------  ---------- ----------                                                                                  Total Smart Growth Deposits $  498,401       0.08% $  511,757       0.11%                                                                                 Time Deposits               $  148,345       1.47% $  137,228       1.54%                                                                                 Total Deposits              $  646,746       0.40% $  648,985       0.41%                                                                                 FHLB Advances               $  103,833       3.62% $  106,484       3.60%                                                                                                                                                            Total Interest-bearing                                                        liabilities                  $  653,164       0.97% $  653,733       1.00%                                ==========             ==========                                                                                           Non-interest bearing Deposits $   97,415       0.00% $  101,736       0.00%                                                                                                                                                            Interest-bearing Liabilities: Average Quarter Balances                       Average balances              09/30/2013 09/30/2013  09/30/2012 09/30/2012   (In 000's)                     $Balance  Avg. Yield   $Balance  Avg. Yield                                 ---------- ----------  ---------- ----------     NOW Accounts                $  144,813       0.12% $  124,017       0.22%    Non-interest bearing                                                          Deposits                       97,415       0.00%     91,077       0.00%                                ---------- ----------  ---------- ----------       Checking Total            $  242,228       0.07% $  215,094       0.12%                                                                                 Savings Accounts            $  205,634       0.11% $  198,079       0.33%    Money Market Accounts           50,539       0.06%     54,791       0.18%                                ---------- ----------  ---------- ----------                                                                                  Total Smart Growth Deposits $  498,401       0.08% $  467,964       0.22%                                                                                 Time Deposits               $  148,345       1.47% $  144,821       1.75%                                                                               Total Deposits                $  646,746       0.40% $  612,785       0.58%                                                                                 FHLB Advances               $  103,833       3.62% $  141,565       2.85%                                                                               Total Interest-bearing                                                        liabilities                  $  653,164       0.97% $  663,273       1.14%                                ==========             ==========                                                                                           Non-interest bearing Deposits $   97,415       0.00% $   91,077       0.00%                                                                                                                                                                                                                                                                                        Interest-bearing Liabilities: Linked Quarter Comparison      Average balances              Change     Change    %Balance  (In 000's)                   $Balance  Avg. Yield   Change                                --------  ----------  --------    NOW Accounts               $ (2,780)      -0.05%     -1.9%   Non-interest bearing                                          Deposits                    (4,321)       0.00%     -4.2%                              --------  ----------  --------      Checking Total           $ (7,101)      -0.03%     -2.8%                                                                Savings Accounts           $ (5,534)      -0.02%     -2.6%   Money Market Accounts          (721)      -0.03%     -1.4%                              --------  ----------  --------                                                                 Total Smart Growth Deposits$(13,356)      -0.03%     -2.6%                                                                Time Deposits              $ 11,117       -0.07%      8.1%                                                                Total Deposits             $ (2,239)      -0.01%     -0.3%                                                                FHLB Advances              $ (2,651)       0.02%     -2.5%                              --------                                                                                     Total Interest-bearing                                        liabilities                 $   (569)      -0.03%     -0.1%                              ========                                                                                     Non-interest bearing Deposits$ (4,321)       0.00%     -4.2%                                                                                                                           Interest-bearing Liabilities: Average Quarter Balances       Average balances              Change     Change    %Balance  (In 000's)                   $Balance  Avg. Yield   Change                                --------  ----------  --------    NOW Accounts               $ 20,796       -0.10%     16.8%   Non-interest bearing                                          Deposits                     6,338        0.00%      7.0%                              --------  ----------  --------      Checking Total           $ 27,134       -0.05%     12.6%                                                                Savings Accounts           $  7,555       -0.22%      3.8%   Money Market Accounts        (4,252)      -0.12%     -7.8%                              --------  ----------  --------                                                                 Total Smart Growth Deposits$ 30,437       -0.14%      6.5%                                                                Time Deposits              $  3,524       -0.28%      2.4%                                                              Total Deposits               $ 33,961       -0.18%      5.5%                                                                FHLB Advances              $(37,732)       0.77%    -26.7%                                                              Total Interest-bearing                                        liabilities                 $(10,109)      -0.17%     -1.5%                              ========                                                                                     Non-interest bearing Deposits$  6,338        0.00%      7.0%                                                                                                                                                                                                                                                                                     Quarter-End Loan                                                              Quality Details                                                             December 31, 2013                                                            (In Thousands)      Total               %    Special   %                %                        Loans  Classified Total  Mention Total     Pass   Total                    -------- ---------- -----  ------- -----  --------- -----  Commercial Loans                                                               Commercial Land $ 10,108 $       --   0.0% $    --   0.0% $  10,108 100.0%   Commercial                                                                    Construction     11,631         --   0.0%     357   3.1%    11,274  96.9%   Commercial Real                                                               Estate          137,834      3,229   2.3%   3,802   2.8%   130,803  94.9%   Commercial Non                                                                Real Estate      33,365      1,314   3.9%      75   0.2%    31,976  95.9%                   -------- ---------- -----  ------- -----  --------- -----      Total                                                                         Commercial   $192,938 $    4,543   2.4% $ 4,234   2.2% $ 184,161  95.4%                                                                              Residential Loans                                                              Residential                                                                   Construction   $  5,275 $       --   0.0% $    --   0.0% $   5,275 100.0%   Residential      417,120      4,373   1.0%     314   0.1%   412,433  98.9%                   -------- ---------- -----  ------- -----  --------- -----      Total                                                                         Residential  $422,395 $    4,373   1.0% $   314   0.1% $ 417,708  98.9%                                                                              Consumer Loans                                                                 Mobile Homes    $ 45,182 $      308   0.7% $    --   0.0% $  44,874  99.3%   Consumer Other    45,337        172   0.4%      --   0.0%    45,165  99.6%                   -------- ---------- -----  ------- -----  --------- -----      Total                                                                         Consumer     $ 90,519 $      480   0.5% $    --   0.0% $  90,039  99.5%                                                                              Total All Loans   $705,852 $    9,396   1.3% $ 4,548   0.7% $ 691,908  98.0%                   ======== ========== =====  ======= =====  ========= =====                                                                                                                                                                                                                                                                                                                      Quarter-End Loan                                                              Quality Details                                                             September 30, 2013                                                           (In Thousands)       Total               %    Special   %               %                         Loans  Classified Total  Mention Total    Pass   Total                     -------- ---------- -----  ------- -----  -------- -----  Commercial Loans                                                               Commercial Land  $ 10,349 $       --   0.0% $    --   0.0% $ 10,349 100.0%   Commercial                                                                    Construction       8,593         --   0.0%      --   0.0%    8,593 100.0%   Commercial Real                                                               Estate           133,649      5,160   3.8%   1,781   1.3%  126,708  94.9%   Commercial Non                                                                Real Estate       30,685      1,311   4.3%      91   0.3%   29,283  95.4%                    -------- ---------- -----  ------- -----  -------- -----      Total                                                                         Commercial    $183,276 $    6,471   3.5% $ 1,872   1.0% $174,933  95.5%                                                                              Residential Loans                                                              Residential                                                                   Construction    $  5,112 $       --   0.0% $   360   7.0% $  4,752  93.0%   Residential       409,693      3,514   0.9%     316   0.1%  405,863  99.0%                    -------- ---------- -----  ------- -----  -------- -----      Total                                                                         Residential   $414,805 $    3,514   0.8% $   676   0.2% $410,615  99.0%                                                                              Consumer Loans                                                                 Mobile Homes     $ 43,199 $      246   0.6% $    --   0.0% $ 42,953  99.4%   Consumer Other     45,170        266   0.6%      --   0.0%   44,904  99.4%                    -------- ---------- -----  ------- -----  -------- -----      Total Consumer $ 88,369 $      512   0.6% $    --   0.0% $ 87,857  99.4%                                                                              Total All Loans    $686,450 $   10,497   1.5% $ 2,548   0.4% $673,405  98.1%                    ======== ========== =====  ======= =====  ======== =====      Contact: Patrick Little President & CEO Teche Holding Company (337) 560-7151     
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