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Hibernia Homestead Bancorp, Inc. Reports Operating Results for the Quarter Ended March 31, 2011


May 6, 2011 - NEW ORLEANS, LA

Hibernia Homestead Bancorp, Inc. (the"Company") (OTCBB: HIBE), the holding company of Hibernia Homestead Bank("Hibernia" or the "Bank"), today reported net income of $19,000 for thequarter ended March 31, 2011 compared to a net loss of $13,000 for thequarter ended March 31, 2010. Earnings per basic and diluted share were$0.02 for the quarter ended March 31, 2011, compared to a loss of $0.01 perbasic and diluted share for the quarter ended March 31, 2010.

A. Peyton Bush, III, President and Chief Executive Officer of the Companyand the Bank, stated, "After incurring operating losses during the firsttwo years following our initial public stock offering, we earned a smallprofit in the first quarter of 2011. However, loan growth slowed from thepace experienced in 2010 and total deposits decreased 0.2% from year end2010. While we are disappointed in the relative lack of growth during thefirst quarter, prospects appear good for increasing loan activity in thesecond quarter, and we continue to focus on loan and deposit growth as ourhighest priorities."

Mr. Bush further stated, "Non-performing loans decreased slightly from theDecember 31, 2010 level, and Hibernia's overall asset quality remainsstrong. Non-performing assets consist of five single family first mortgageresidential loans, and we believe that reserves allocated to those loansare adequate to cover any losses that may be incurred by the Bank."

Mr. Bush added, "We recognize that non-interest expense is high in relationto the Bank's current size, but we believe that our investments infacilities, systems and personnel are necessary to achieve the Bank'sgrowth objectives. Committing resources to support growth will enhance thevalue of our banking franchise in the long run and will have a diminishingnegative impact on operating profits as earning assets increase. Meanwhileour strong capital position has allowed us to increase tangible book valueper share from $21.23 after the initial stock offering to $21.28 at March31, 2011 through share repurchases."

Net interest income increased 21.9% to $724,000 for the quarter ended March31, 2011, from $594,000 for quarter ended March 31, 2010. Several factorsaffected net interest income for the period. Gross interest income washigher due to an increase in loans and a decrease in lower yieldinginvestment securities as a percentage of earning assets. Interest expensewas higher due to an increase in interest bearing deposits partially offsetby a reduction in the average rate paid on certificates of deposit. Duringthe quarter ended March 31, 2011, we made a provision for loan and leaselosses of $15,000, which consisted of an increase in the reserve forimpaired loans and an increase in general reserves due to the higher volumeof loans outstanding. Non-interest expense increased 9.0% from $653,000for the quarter ended March 31, 2010 to $712,000 for the quarter endedMarch 31, 2011. The increase in non-interest expense for the quarter endedMarch 31, 2011 was due primarily to higher salary expense and higheremployee benefits expense relating to stock benefit plans. These increaseswere partially offset by a decrease in advertising and promotionalexpenses.

Hibernia Homestead Bancorp's total consolidated assets at March 31, 2011were $77.0 million compared to $77.3 million at December 31, 2010. Netloans increased 1.3% from $62.0 million at December 31, 2010 to $62.8million at March 31, 2011, reflecting a $1.2 million increase inresidential construction loans and a $249,000 increase in residentialmortgage loans. These increases were partially offset by decreases of$626,000 in commercial loans and $60,000 in home equity lines of credit.The additional loan volume was primarily funded by a decrease of $1.0million in investment securities. Total deposits decreased 0.2% from $54.6million at December 31, 2010 to $54.5 million at March 31, 2011, reflectinga $670,000 increase in money market accounts offset by decreases ininterest-bearing checking accounts and certificates of deposit.

Non-performing assets, defined as non-accrual loans, accruing loans pastdue 90 days or more and foreclosed property, totaled $981,000, or 1.3%, oftotal assets at March 31, 2011, compared to $1.1 million, or 1.5%, of totalassets, at December 31, 2010. The non-performing assets at March 31, 2011consist of five loans secured by first mortgages on one-to-four familyresidential real estate. Management believes that the allowance for loanand lease losses is sufficient to cover any losses that may be incurred onthese loans. There was no foreclosed property at March 31, 2011 orDecember 31, 2010.

The Company's total stockholders' equity remained unchanged at $22.0million as of March 31, 2011 and December 31, 2010. The Company's bookvalue per share increased slightly from $21.26 at December 31, 2010 to$21.28 at March 31, 2011. Hibernia Homestead Bank's regulatory capitallevels continue to exceed requirements for well capitalized institutions.

Statements contained in this news release which are not historical factsmay be forward-looking statements as that term is defined in the PrivateSecurities Litigation Reform Act of 1995. Such forward-looking statementsare subject to risks and uncertainties which could cause actual results todiffer materially from those currently anticipated due to a number offactors, including, but not limited to, changes in interest rates, changesin demand for loans, deposits and other financial services in the Company'smarket area, changes in asset quality, general economic conditions as wellas other factors discussed in documents filed by the Company with theSecurities and Exchange Commission from time to time. We undertake noobligation to update any forward-looking statements.

Hibernia Homestead Bank, the wholly-owned subsidiary of Hibernia HomesteadBancorp, Inc., has served the New Orleans metropolitan area since 1903.Operating from its main office and two branches, Hibernia Homestead Bankoffers loan, deposit and on-line banking services to commercial andindividual clients in the New Orleans metropolitan area. Additionalinformation about Hibernia Homestead Bank is available at www.hibbank.com.


Hibernia Homestead Bancorp, Inc. and Subsidiary
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)

March 31, December 31,
2011 2010
------------ ------------
(Unaudited)
ASSETS

Cash - Non-Interest Bearing $ 1,201 $ 481
Cash - Interest Bearing 3,284 4,112
------------ ------------
TOTAL CASH AND CASH EQUIVALENTS 4,485 4,593


Certificates of Deposit 100 100
Securities - Available For Sale 3,183 4,230
Loans receivable - net 62,764 61,953
Accrued Interest receivable 236 227
Investment in FHLB Stock 171 171
Investment in FNBB Stock 210 210
Prepaid Expenses and Other Assets 288 253
Premises and Equipment, Net 5,087 4,988
Deferred Income Taxes 516 528
------------ ------------
TOTAL ASSETS $ 77,040 $ 77,253
============ ============
LIABILITIES AND EQUITY

LIABILITIES
Deposits $ 54,477 $ 54,607
Advance Payments by Borrowers for Taxes and
Insurance 307 477
Accrued Interest Payable 8 3
Accounts Payable and Other Liabilities 276 213
------------ ------------
TOTAL LIABILITIES 55,068 55,300
------------ ------------


EQUITY

Preferred stock, $.01 par value - 1,000,000
authorized; none issued - -
Common stock, $.01 par value - 9,000,000 shares
authorized; 1,113,334 issued; 1,032,667 shares
outstanding at March 31, 2011 and December 31,
2010 11 11
Additional Paid in Capital 10,472 10,466
Treasury Stock at cost - 80,667 shares at
March 31, 2011 and December 31, 2010 (1,152) (1,152)
Unallocated common stock held by:
Employee Stock Ownership Plan (810) (819)
Recognition and Retention Plan (293) (293)
Accumulated Other Comprehensive Income, Net of
Tax Effects 65 80
Retained Earnings 13,679 13,660
------------ ------------

TOTAL EQUITY 21,972 21,953
------------ ------------
TOTAL LIABILITIES AND EQUITY $ 77,040 $ 77,253
============ ============




Hibernia Homestead Bancorp, Inc. and Subsidiary
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share data)

Three Months Ended
March 31,
---------------------------
2011 2010
------------- ------------
(Unaudited)

Total Interest Income $ 893 $ 735

Total Interest Expense 169 141
------------- ------------

Net Interest Income 724 594

Provision For Loan Losses 15 -
------------- ------------

Net Interest Income After Provision For
Loan Losses 709 594

Total Non-Interest Income 41 38

Non-Interest Expenses
Salaries and Employee Benefits 336 289
Occupancy Expenses 103 92
Data Processing 65 71
Advertising and Promotional Expenses 15 26
Professional Fees 60 63
Other Non-Interest Expenses 133 112
------------- ------------

Total Non-Interest Expenses 712 653
------------- ------------

Income (Loss) Before Income Taxes 38 (21)

Income Tax Expense (Benefit) 19 (8)
------------- ------------

NET INCOME (LOSS) $ 19 $ (13)
============= ============

INCOME (LOSS) PER COMMON SHARE
Basic $ 0.02 $ (0.01)
Diluted $ 0.02 $ (0.01)

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