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 


 
                                                                            
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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 


 
                                                                            
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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 


 
                                                                            
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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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