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Teche Posts $0.85 EPS for First Quarter 2012


January 26, 2012 - New Iberia, LA

(NYSE Amex: TSH) -- Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended December 31, 2011, the first quarter of fiscal year 2012.

Earnings for the quarter ended December 31, 2011 amounted to $1.8 million or $0.85 per diluted share, compared to $1.8 million or $0.87 per diluted share for the same quarter in fiscal 2011, a decrease of $0.02 per diluted share, or 2.3%.

"We had solid earnings this quarter on top of record EPS for fiscal years 2011, 2010 and 2009," said Little. We are very pleased that we have been able to post strong and consistent earnings for over three years. The strength of the south Louisiana economy has been a big help in boosting loan growth."

The Company reported the following points of interest:

  • Average earning assets increased 2.6% or $18.7 million to $738.1 million as compared to the linked quarter.
  • Total loans increased 3.9% or $24.0 million to $632.6 million at December 31, 2011 as compared to the linked quarter.
  • SmartGrowth loans increased 1.4% or $6.5 million as compared to the linked quarter and 1.1% or $5.0 million compared to a year ago. SmartGrowth loans now amount to 73.7% of total loans, compared to 77.7% a year ago.
  • Net charge offs for the quarter amounted to 0.05% of average loans.
  • SmartGrowth Deposits increased 0.6% over the linked quarter and 6.9% compared to a year ago. SmartGrowth Deposits amounted to 73.3% of total deposits, compared to 72.9% at September 30, 2011 and 70.5% a year ago.
  • Checking Account Balances increased 4.3% compared to the linked quarter and 6.9% compared to December 31, 2010.
  • The average yield on all deposits was 0.76% for the quarter compared to 0.77% for the linked quarter and 1.01% a year ago.
  • Quarterly operating revenue remained stable at $11.5 million, as compared to the previous four quarters.
  • Tangible book value per share increased to $37.47, an increase of 1.2% or $0.45 for the linked quarter and 6.9% or $2.43 year-over-year.

Capital
Over the past twelve months, stockholders' equity increased 6.0% to a record $81.1 million while assets increased 7.9% to a record $813.5 million. The tangible equity ratio at December 31, 2011 has decreased to 9.56% compared to 9.71% a year ago. However, tangible book value per common share has increased to a record $37.47, an increase of 6.9% compared to a year ago. Risk based capital increased to 14.09% compared to 13.79% a year ago; and the equity to asset ratio decreased to 9.97% from 10.15% a year ago.

"While we are extremely pleased that we have been able to post record earnings for three consecutive years, we also have been mindful of the possibility that interest rates could rise in the future," said Little. "To help prepare for that, we currently maintain an asset sensitive position, primarily due to our SmartGrowth Deposits, our Consumer & Commercial Loan portfolios, our long-term advances and the long-term nature of our time deposits."


------------------------------- ------- ------- ------- ------- -------
QUARTERLY COMPARISON Dec '11 Sep '11 Jun '11 Mar '11 Dec '10
------------------------------- ------- ------- ------- ------- -------
Stockholders' Equity (in
millions) $ 81.1 $ 80.0 $ 78.6 $ 77.6 $ 76.5
Ratio of Equity to Assets 9.97% 10.08% 9.96% 9.92% 10.15%
Tangible Equity Ratio 9.56% 9.67% 9.54% 9.49% 9.71%
Total Risk-Based Capital Ratio 14.09% 14.30% 14.26% 13.94% 13.79%
Book Value per Common Share $ 39.24 $ 38.79 $ 37.87 $ 37.23 $ 36.81
Tangible Book Value Per Common
Share $ 37.47 $ 37.02 $ 36.11 $ 35.47 $ 35.04
Total Assets (in millions) $ 813.5 $ 793.2 $ 789.0 $ 782.2 $ 753.7

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 Dec Sep Jun Mar DecQUARTERLY COMPARISON '11 '11 '11 '11 '10------------------------------------ ------ ------ ------ ------ ------Net Charge-offs/Average Loans 0.05% 0.09% 0.57% 0.09% 0.08%ALLL*/NPLs 73.72% 76.63% 69.94% 68.32% 66.36%ALLL*/NPAs 67.37% 67.67% 56.45% 60.29% 58.11%ALLL*/Loans 1.33% 1.37% 1.39% 1.78% 1.68%NPAs/Assets 1.53% 1.55% 1.82% 2.22% 2.27%*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-offsQUARTERLY COMPARISON (in 000's) Dec '11 Sep '11 Jun '11 Mar '11 Dec '10----------------------------------- ------- ------- ------- -------- -------Beginning ALLL $ 8,331 $ 8,123 $10,452 $ 9,953 $ 9,256Provision for Loan Losses 350 750 1,000 1,000 1,150Net Charge-offs 289 542 3,329 501 453Ending ALLL $ 8,392 $ 8,331 $ 8,123 $ 10,452 $ 9,953Ending ALLL (net of specific reserves) $ 8,142 $ 7,783 $ 8,075 $ 7,455 $ 7,046

The allowance for loan losses was 1.33% of total loans, or $8.4 million, at December 31, 2011 compared to 1.37% of total loans, or $8.3 million at September 30, 2011 and 1.68% of total loans, or $10.0 million at December 31, 2010.

Net charge-offs for the quarter were $0.3 million, or 0.05% of average loans, compared to $0.5 million or 0.08% of average loans for the same period a year ago. For the twelve months ended December 31, 2011, net charge offs were $4.7 million or 0.78% of average loans, compared to $1.6 million or 0.27% of loans for the twelve months ended December 31, 2010.

Non-performing assets remained relatively the same at $12.4 million, or 1.53% of total assets at December 31, 2011, compared to $12.3 million, or 1.55% of total assets at September 30, 2011 and $17.1 million, or 2.27% of total assets a year ago, primarily due to a small decrease in the portfolio of foreclosed assets, which offset a small increase in non-performing loans.

--------------------------------- ------- ------- ------- --------- --------Net Interest IncomeQUARTERLY COMPARISON (In 000's) Dec '11 Sep '11 Jun '11 Mar '11 Dec '10--------------------------------- ------- ------- ------- --------- --------Interest Income $ 9,766 $ 9,861 $ 9,758 $ 9,736 $ 10,003Interest Expense 2,080 2,078 2,185 2,363 2,542 ------- ------- ------- --------- --------Net Interest Income $ 7,686 $ 7,783 $ 7,573 $ 7,373 $ 7,461 ======= ======= ======= ========= ========

Interest income decreased compared to the linked quarter primarily due to a decrease in the yield on earning assets. Interest expense remained relatively stable compared to the linked quarter.

------------------------------- ------- ------- ------- ------- -------Net Interest Margin and SpreadQUARTERLY COMPARISON Dec '11 Sep '11 Jun '11 Mar '11 Dec '10------------------------------- ------- ------- ------- ------- -------Yield on Earning Assets 5.30% 5.48% 5.46% 5.61% 5.75%Cost of Interest Bearing Liabilities 1.31% 1.36% 1.43% 1.57% 1.69%Spread 3.99% 4.13% 4.03% 4.04% 4.06%Net Interest Margin 4.17% 4.33% 4.24% 4.25% 4.29%

Net interest margin amounted to 4.17% for the three-month period ended December 31, 2011 compared to 4.29% for the three-months ended December 31, 2010. The decrease was primarily due to a decrease in the interest rates earned on loans, primarily newly originated loans, that was only partially offset by a decrease in interest rates paid on deposits and advances.

Spread amounted to 3.99% for the three month period ended December 31, 2011, compared to 4.06% for the same period in the previous year. Compared to the same quarter last year, average yield on earnings assets decreased 45 basis points from 5.75% to 5.30%, while average cost of funds decreased 38 basis points from 1.69% to 1.31%.

Operating Revenue
Operating revenue for the quarter, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $11.5 million, which was identical to the same quarter in 2010.

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

----------------------------------- ------- ------- ------- -------- -------Operating RevenueQUARTERLY COMPARISON (in millions) Dec '11 Sep '11 Jun '11 Mar '11 Dec '10----------------------------------- ------- ------- ------- -------- -------Net Interest Income $ 7.7 $ 7.8 $ 7.6 $ 7.4 $ 7.5Non Interest Income 3.8 3.8 3.9 3.8 4.0 ------- ------- ------- -------- -------Operating Revenue $ 11.5 $ 11.6 $ 11.5 $ 11.2 $ 11.5 ======= ======= ======= ======== =======

Non Interest Income
Non-interest income remained stable at $3.8 million compared to$3.8 million in the linked quarter and down slightly from $4.0 million for the same quarter in 2010. This amounted to 1.88% of average assets for the quarter, compared to 2.01% for the linked quarter and 2.09% a year ago.

------------------------------------ ------ ------ ------ ------ ------Non-Interest Income & Expense Dec Sep Jun Mar DecQUARTERLY COMPARISON (in thousands) '11 '11 '11 '11 '10------------------------------------ ------ ------ ------ ------ ------Interchange fee Income 778 830 881 820 786Other Non-Interest Income 2,990 3,136 3,057 3,012 3,186Total Non-Interest Income $3,768 $3,966 $3,938 $3,832 $3,972Total Non-Interest Income/ Avg. Assets 1.88% 1.94% 1.99% 2.03% 2.10%Non-Interest Expense 8,447 7,855 7,777 7,918 7,583Non-Interest Expense/Avg. Assets 4.21% 3.99% 3.99% 4.17% 3.99%

Non Interest Expense
For the quarter, non-interest expense was $8.4 million or 4.21% of average assets, compared to the linked quarter of $7.9 million or 3.99% of average assets, an increase of 7.5%, primarily due to marketing expense and a decrease in values on foreclosed real estate. Compared to the same quarter in fiscal 2010, non-interest expense increased by $0.8 million from $7.6 million to $8.4 million, an increase of 11.4% primarily due to expenses related to compensation, marketing, data processing and charge-offs related to adjustments in values of foreclosed assets.

Net Income and Dividends
On November 30, 2011, the board of directors declared a $0.36 per share quarterly dividend, its sixty-sixth consecutive. Based on the closing price of the Company's common stock of $34.10 on that date, the annualized dividend yield was 4.2%. Since 2003, the Company has increased dividends for nine consecutive years.

----------------------------------- ------- ------- ------- -------- -------QUARTERLY COMPARISON (In 000's) Dec '11 Sep '11 Jun '11 Mar '11 Dec '10----------------------------------- ------- ------- ------- -------- -------Dividends Declared Per Share $ 0.36 $ 0.36 $ 0.36 $ 0.36 $ 0.355Basic Earnings Per Common Share $ 0.86 $ 1.02 $ 0.86 $ 0.73 $ 0.88Diluted Earnings Per Common Share $ 0.85 $ 1.01 $ 0.85 $ 0.72 $ 0.87

Loans

----------------------------------- ------- ------- ------- -------- -------QUARTERLY COMPARISON (In 000,000's) Dec '11 Sep '11 Jun '11 Mar '11 Dec '10----------------------------------- ------- ------- ------- -------- -------SmartGrowth Loans Consumer $ 107.4 $ 108.8 $ 109.5 $ 109.1 $ 111.1 Commercial 213.6 209.5 201.3 207.5 208.8 Home Equity 47.3 48.8 51.3 51.0 52.2 SmartMortgages 98.2 92.9 88.0 88.8 89.4 ------- ------- ------- -------- -------Total SmartGrowth Loans $ 466.5 $ 460.0 $ 450.1 $ 456.5 $ 461.5Mortgage Loans (owner occupied conforming) 166.1 148.6 133.3 131.7 132.2 ------- ------- ------- -------- -------Total Loans $ 632.6 $ 608.6 $ 583.4 $ 588.2 $ 593.7

Linked Quarter Comparison. Gross loans receivable increased to $632.6 million at December 31, 2011, from $608.6 million at September 30, 2011, an increase of $24.0 million, or 3.9% compared to the linked quarter, primarily due to an increase in 15-year one-to-four family mortgage loans and adjustable rate mortgage loans. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans and consumer loans, were $466.5 million, or 73.7% of total loans at December 31, 2011, compared to $460.0 million, or 75.6% at September 30, 2011, a three month increase of $6.5 million, or 1.4%.

Commercial loan balances at December 31, 2011 amounted to $213.6 million, compared to $209.5 million at September 30, 2011, a three month increase of $4.1 million or 2.0%. Consumer loan balances at December 31, 2011 amounted to $107.4 million, compared to $108.8 million at September 30, 2011, a linked quarter decrease of $1.4 million, or 1.3%.

One Year Comparison. Gross loans receivable increased to $632.6 million at December 31, 2011 from $593.7 million at December 31, 2010 a twelve month increase of $38.9 million, or 6.6%. SmartGrowth Loans increased to $466.5 million at December 31, 2011, from $461.5 million at December 31, 2010, a twelve month increase of $5.0 million, or 1.1%.

Commercial loan balances at December 31, 2011 amounted to $213.6 million, compared to $208.8 million at December 31, 2010 a twelve month increase of $4.8 million, or 2.3%. Consumer loan balances at December 31, 2011 amounted to $107.4 million, compared to $111.1 million at December 31, 2010 a twelve month decrease of $3.7 million, or 3.3%.

Deposits

----------------------------------- ------- ------- ------- -------- -------QUARTERLY COMPARISON (In 000,000's) Dec '11 Sep '11 Jun '11 Mar '11 Dec '10----------------------------------- ------- ------- ------- -------- -------SmartGrowth Deposits Checking $ 199.0 $ 190.8 $ 209.1 $ 193.2 $ 186.2 Money Market 52.0 55.0 55.3 56.6 55.6 Savings 188.3 190.7 191.6 188.8 169.3 ------- ------- ------- -------- -------Total SmartGrowth Deposits $ 439.3 $ 436.5 $ 455.9 $ 438.7 $ 411.1Time Deposits 160.0 162.1 169.4 172.2 172.3 ------- ------- ------- -------- -------Total Deposits $ 599.3 $ 598.6 $ 625.3 $ 610.9 $ 583.4

Linked Quarter Comparison. Total deposits increased to $599.3 million at December 31, 2011, from $598.6 million at September 30, 2011, a linked quarter increase of $0.7 million or 0.1%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts increased $2.8 million to $439.3 million or 0.6% at December 31, 2011, from $436.5 million at September 30, 2011.

Checking account balances at December 31, 2011 increased $8.2 million, or 4.3%, to $199.0 million from $190.8 million at September 30, 2011.

One Year Comparison. Total deposits increased to $599.3 million at December 31, 2011, from $583.4 million at December 31, 2010, a twelve month increase of $15.9 million, or 2.7%. Total SmartGrowth Deposits increased $28.2 million, or 6.9% from $411.1 million at December 31, 2010 to $439.3 million at December 31, 2011.

SmartGrowth Deposits amounted to 73.3% of total deposits as of December 31, 2011 compared to 70.5% at December 31, 2010

Checking account balances have increased 6.9%, or $12.8 million, in the past 12 months from $186.2 million at December 31, 2010 to $199.0 million at December 31, 2011. Checking account balances at December 31, 2011 accounted for 33.2% of total deposits compared to 32.0% at December 31, 2010.

Teche Holding Company is the parent company of Teche Federal Bank, which operates nineteen offices in South Louisiana and serves over 60,000 customers. Teche Federal Bank is the fourth largest publicly owned bank based in Louisiana with over $813 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 AMEX.

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

 TECHE HOLDING COMPANY (Dollars in thousands, except per share data) New Iberia, LA Statements of Income (UNAUDITED) THREE MONTHS ENDED ------------------------------------------------ Dec. Sep. Jun. Mar. Dec.Condensed Statements of Income 2011 2011 2011 2011 2010 -------- -------- -------- -------- --------Interest Income $ 9,766 $ 9,861 $ 9,758 $ 9,736 $ 10,003Interest Expense 2,080 2,078 2,185 2,363 2,542 -------- -------- -------- -------- --------Net Interest Income 7,686 7,783 7,573 7,373 7,461Provision for Loan Losses 350 750 1,000 1,000 1,150 -------- -------- -------- -------- --------Net Interest Income after Provision for Loan Losses 7,336 7,033 6,573 6,373 6,311Non Interest Income 3,768 3,824 3,890 3,850 3,981Non Interest Expense 8,447 7,855 7,777 7,918 7,583 -------- -------- -------- -------- --------Income Before Income Taxes 2,657 3,002 2,686 2,305 2,709Income Taxes 885 900 896 792 885 -------- -------- -------- -------- --------Net Income $ 1,772 $ 2,102 $ 1,790 $ 1,513 $ 1,824 ======== ======== ======== ======== ========Selected Financial Data -------- -------- -------- -------- --------Dividends Declared Per Share $ 0.36 $ 0.36 $ 0.36 $ 0.36 $ 0.355Basic Earnings Per Common Share $ 0.86 $ 1.02 $ 0.86 $ 0.73 $ 0.88Diluted Earnings Per Common Share $ 0.85 $ 1.01 $ 0.85 $ 0.72 $ 0.87Annualized Return on Avg. Assets 0.88% 1.07% 0.92% 0.80% 0.96%Annualized Return on Avg. Equity 8.86% 10.40% 8.96% 7.74% 9.36%Annualized Return on Avg. Tangible Equity (1) 9.30% 10.90% 9.40% 8.13% 9.84%Yield on Interest Earning Assets 5.30% 5.48% 5.46% 5.61% 5.75%Cost of Interest Bearing Liabilities 1.31% 1.36% 1.43% 1.57% 1.69%Spread 3.99% 4.13% 4.03% 4.04% 4.06%Net Interest Margin 4.17% 4.33% 4.24% 4.25% 4.29%Non-Interest Income/Avg. Assets 1.88% 1.94% 1.99% 2.03% 2.10%Non-Interest Expense/Avg. Assets 4.21% 3.99% 3.99% 4.17% 3.99%Quarterly Net Charge- offs/Avg. Loans 0.05% 0.09% 0.57% 0.09% 0.08%Weighted avg. shares Outstanding Basic 2,059 2,064 2,073 2,072 2,068 Diluted 2,078 2,085 2,097 2,098 2,089AVERAGE BALANCE SHEET DATA -------- -------- -------- -------- --------Total Assets $803,024 $787,782 $780,213 $759,993 $759,858Earning assets $738,111 $719,384 $714,528 $693,747 $696,304Loans $621,073 $591,736 $586,420 $589,879 $595,547Interest-bearing deposits $513,104 $520,489 $529,664 $514,771 $506,887Total deposits 594,376 $607,949 $613,778 $590,664 $579,902Total stockholders' equity $ 79,993 $ 80,857 $ 79,942 $ 78,197 $ 77,923 (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 $ 79,993 $ 80,857 $ 79,942 $ 78,197 $ 77,923Less average goodwill and other intangible assets, net of related income taxes 3,667 3,671 3,671 3,667 3,670Average Tangible Equity $ 76,326 $ 77,186 $ 76,271 $ 74,530 $ 74,253 ======== ======== ======== ======== ======== Net Income 1,772 2,102 1,790 1,513 1,824Plus Amortization of core deposit intangibles, net of related income taxes 2 2 3 2 3 -------- -------- -------- -------- --------Net Income, as adjusted $ 1,774 $ 2,104 $ 1,793 $ 1,515 $ 1,827 ======== ======== ======== ======== ========



 TECHE HOLDING COMPANY (Dollars in thousands, except per share data) New Iberia, LA Balance Sheet (UNAUDITED) (Dollars in Thousands Except Share Data) Dec. Sep. Jun. Mar. Dec. 2011 2011 2011 2011 2010 --------- --------- --------- --------- ---------SmartGrowth Loans Consumer $ 107,399 $ 108,849 $ 109,476 $ 109,092 $ 111,139 Commercial 213,659 209,460 201,324 207,509 208,797 Home Equity 47,261 48,799 51,293 51,045 52,182 SmartMortgage Loans 98,221 92,910 88,019 88,799 89,389 --------- --------- --------- --------- ---------Total SmartGrowth Loans 466,540 460,018 450,112 456,445 461,507Mortgage Loans (owner occupied conforming) 166,088 148,584 133,264 131,708 132,224 --------- --------- --------- --------- --------- 632,628 608,602 583,376 588,153 593,731Allowance for Loan Losses (8,392) (8,331) (8,123) (10,452) (9,953) --------- --------- --------- --------- ---------Loans Receivable, Net 624,236 600,271 575,253 577,701 583,778 Cash and Securities 130,126 134,902 154,061 144,465 110,405Goodwill and Other Intangibles 3,667 3,670 3,673 3,678 3,682Foreclosed Real Estate 1,012 1,405 2,694 2,039 2,079Other 54,504 52,955 53,323 54,269 53,757 --------- --------- --------- --------- ---------TOTAL ASSETS $ 813,545 $ 793,203 $ 789,004 $ 782,152 $ 753,701 ========= ========= ========= ========= ========= SmartGrowth Deposits Checking $ 199,021 $ 190,822 $ 209,080 $ 193,244 $ 186,240 Money Market 52,019 54,970 55,280 56,618 55,557 Savings 188,303 190,727 191,586 188,819 169,326 --------- --------- --------- --------- ---------Total Smart Growth Deposits 439,343 436,519 455,946 438,681 411,123Time Deposits 159,968 162,063 169,377 172,211 172,316 --------- --------- --------- --------- ---------Total Deposits 599,311 598,582 625,323 610,892 583,439 FHLB Advances 127,621 108,184 79,533 83,585 87,756Other Liabilities 5,501 6,450 5,567 10,097 6,009Stockholders' Equity 81,112 79,987 78,581 77,578 76,497 --------- --------- --------- --------- ---------TOTAL LIABILITIES ANDSTOCKHOLDERS' EQUITY $ 813,545 $ 793,203 $ 789,004 $ 782,152 $ 753,701 ========= ========= ========= ========= ========= Ratio of Equity to Assets 9.97% 10.08% 9.96% 9.92% 10.15%Tangible Equity Ratio 9.56% 9.67% 9.54% 9.49% 9.71%Total Risk-Based Capital Ratio 14.09% 14.30% 14.26% 13.94% 13.79%Book Value per Common Share $ 39.24 $ 38.79 $ 37.87 $ 37.23 $ 36.81Tangible Book Value Per Common Share (1) $ 37.47 $ 37.02 $ 36.11 $ 35.47 $ 35.04Shares Outstanding (in thousands) 2,067 2,062 2,075 2,084 2,078Non-performing Assets/Total Assets 1.53% 1.55% 1.82% 2.22% 2.27%ALLL/Loans 1.33% 1.37% 1.39% 1.78% 1.68%ALLL/NPLs 73.72% 76.63% 69.94% 68.32% 66.36% (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 $ 81,112 $ 79,987 $ 78,581 $ 77,578 $ 76,497Less goodwill and other Intangible assets, net of related income taxes (3,657) (3,659) (3,661) (3,664) (3,670) --------- --------- --------- --------- ---------Tangible Stockholders' Equity $ 77,455 $ 76,328 $ 74,920 $ 73,914 $ 72,827 ========= ========= ========= ========= ========= Total Assets $ 813,545 $ 793,203 $ 789,004 $ 782,152 $ 753,701Less goodwill and other Intangible assets, net of related income taxes (3,657) (3,659) (3,661) (3,664) (3,670) --------- --------- --------- --------- ---------Total Tangible Assets $ 809,888 $ 789,544 $ 785,343 $ 778,488 $ 750,031 ========= ========= ========= ========= ========= 



 TECHE HOLDING COMPANY (Dollars in thousands, except per share data) New Iberia, LA Annual Balance Sheet (UNAUDITED) (Dollars in Thousands Except Share Data) Dec. Dec. Dec. Dec. 2011 2010 2009 2008 ----------- ----------- ----------- -----------SmartGrowth Loans Consumer $ 107,399 $ 111,139 $ 109,899 $ 102,438 Commercial 213,659 208,797 213,505 195,754 Home Equity 47,261 52,182 57,373 57,720 SmartMortgage Loans 98,221 89,389 86,462 88,181 ----------- ----------- ----------- -----------Total SmartGrowth Loans 466,540 461,507 467,239 444,093Mortgage Loans (owner occupied conforming) 166,088 132,224 135,048 160,410 ----------- ----------- ----------- ----------- 632,628 593,731 602,287 604,503Allowance for Loan Losses (8,392) (9,953) (7,744) (5,631) ----------- ----------- ----------- -----------Loans Receivable, Net 624,236 583,778 594,543 598,872 Cash and Securities 130,126 110,405 108,282 120,235Goodwill and Other Intangibles 3,667 3,682 3,707 3,745Foreclosed Real Estate 1,012 2,079 1,128 672Other 54,504 53,757 49,604 44,094 ----------- ----------- ----------- -----------TOTAL ASSETS $ 813,545 $ 753,701 $ 757,264 $ 767,618 =========== =========== =========== =========== SmartGrowth Deposits Checking $ 199,021 $ 186,240 $ 170,552 $ 158,742 Money Market 52,019 55,557 80,034 121,621 Savings 188,303 169,326 128,254 57,387 ----------- ----------- ----------- -----------Total Smart Growth Deposits 439,343 411,123 378,840 337,750Time Deposits 159,968 172,316 196,651 251,032 ----------- ----------- ----------- -----------Total Deposits 599,311 583,439 575,491 588,782 FHLB Advances 127,621 87.756 103,451 103,491Other Liabilities 5,501 6,009 6,000 6,013Stockholders' Equity 81,112 76,497 72,322 69,332 ----------- ----------- ----------- -----------TOTAL LIABILITIES ANDSTOCKHOLDERS' EQUITY $ 813,545 $ 753,701 $ 757,264 $ 767,618 =========== =========== =========== =========== Ratio of Equity to Assets 9.97% 10.15% 9.55% 9.03%Tangible Equity Ratio 9.56% 9.71% 9.07% 8.59%Total Risk-Based Capital Ratio 14.09% 13.79% 12.70% 12.29%Book Value per Common Share $ 39.24 $ 36.81 $ 34.49 $ 32.72Tangible Book Value Per Common Share (1) $ 37.47 $ 35.04 $ 32.74 $ 31.00Non-performing Assets/Total Assets 1.53% 2.27% 1.58% 0.93%ALLL/Loans 1.33% 1.68% 1.29% 0.93%ALLL/NPLs 73.72% 66.36% 72.12% 87.0%Shares Outstanding (in thousands) 2,067 2,078 2,097 2,116 (1) Eliminates the effect of goodwill and the core deposit intangible assets and the related amortization expense. Stockholders' Equity $ 81,112 $ 76,497 $ 72,322 $ 69,332 Less goodwill and other Intangible assets, net of related income taxes (3,657) (3,670) (3,687) (3,712) ----------- ----------- ----------- -----------Tangible Stockholders' Equity $ 77,455 $ 72,827 $ 68,365 $ 65,620 =========== =========== =========== =========== Total Assets $ 813,545 $ 753,701 $ 757,264 $ 767,619Less goodwill and other Intangible assets, net of related income taxes (3,657) (3,670) (3,687) (3,712) ----------- ----------- ----------- -----------Total Tangible Assets $ 809,888 $ 750,031 $ 753,577 $ 763,907 =========== =========== =========== =========== 



 Quarter-End Loan Data Total Net Net 90 Days + 90 Days + Charge- NonDecember 31, 2011 Loans Charge-Offs Offs Non Accrual Accrual Dollars Dollars Percentage Dollars Percentage --------- ----------- ---------- ----------- ----------Real Estate Loans Construction $ 18,657 $ -- 0.00% $ 763 4.1% Permanent, Secured by: 1-4 Dwelling Units: Revolving, Open-End Loans (HELOC) 20,309 20 0.10% 75 0.4% All Other Secured by First Liens $ 347,058 $ 167 0.05% $ 3,505 1.0% Secured by Junior Liens 8,492 -- 0.00% -- 0.0% Multifamily (5+ Dwelling Units) 23,460 45 0.19% 843 3.6% Nonresidential Property (Except Land) 95,233 -- 0.00% 337 0.4% Land 34,641 -- 0.00% 4,759 13.7% --------- ----------- ---------- ----------- ---------- Consumer 19,478 -- 0.00% 130 0.7% --------- ----------- ---------- ----------- ---------- Commercial 15,163 -- 0.00% 4,629 30.5% --------- ----------- ---------- ----------- ----------Subtotal - Real Estate Loans $ 547,850 $ 232 0.04% $ 10,282 1.9% --------- ----------- ---------- ----------- ---------- Non-Real Estate Loans: Commercial Loans $ 27,217 $ -- 0.00% $ -- 0.0% Consumer Loans: Loans on Deposits 3,667 -- 0.00% 39 1.1% Auto Loans 1,898 -- 0.00% 22 1.2% Mobile Home Loans 37,494 55 0.15% 534 1.4% Other 14,502 2 0.01% 113 0.8% --------- ----------- ---------- -----------Subtotal - Non Real Estate Loans $ 84,778 $ 57 0.07% $ 708 0.8% --------- ----------- ---------- ----------- ---------- Gross Loans $ 632,628 $ 289 0.05% $ 10,990 1.7% ========= =========== =========== Non-accruals $ 10,83590 + Days Past Due 549OREO & Foreclosed 1,073 --------- Nonperforming Assets (Net) $ 12,457 ========= Performing TDRs --



 90 Days Net Net + 90 Days +Quarter-End Loan Data Total Charge- Charge- Non NonSeptember 30, 2011 Loans Offs Offs Accrual Accrual Dollars Dollars Percentage Dollars Percentage -------- -------- ---------- -------- ----------Real Estate Loans Construction $ 20,046 $ -- 0.00% $ 1,021 5.1% Permanent, Secured by: 1-4 Dwelling Units: Revolving, Open- End Loans (HELOC) 20,287 -- 0.00% 104 0.51% All Other Secured by First Liens 326,027 25 0.01% 2,931 0.90% Secured by Junior Liens 9,032 60 0.66% 5 0.05% Multifamily (5+ Dwelling Units) 23,747 -- 0.00% 863 3.63% Nonresidential Property (Except Land) 87,797 105 0.12% 412 0.47% Land 35,774 306 0.86% 4,963 13.87% -------- -------- ---------- -------- ---------- Consumer 20,023 7 0.03% 130 0.65% -------- -------- ---------- -------- ---------- Commercial 15,751 299 1.90% 4.833 30.7% -------- -------- ---------- -------- ----------Subtotal - Real Estate Loans $522,710 $ 496 0.09% $ 10,299 1.97% -------- -------- ---------- -------- ---------- Non-Real Estate Loans: Commercial Loans $ 27,403 (1) 0.00% $ -- 0.00% Consumer Loans: Loans on Deposits 3,737 7 0.19% 69 1.85% Auto Loans 2,105 -- 0.00% 23 1.07% Mobile Home Loans 38,285 31 0.08% 379 0.99% Other 14,362 9 0.06% 101 0.70% -------- -------- ---------- --------Subtotal - Non Real Estate Loans $ 85,892 $ 46 0.05% $ 572 0.67% -------- -------- ---------- -------- ---------- Gross Loans $608,602 $ 542 0.09% $ 10,871 1.79% ======== ======== ======== ---------- Non-accruals $ 10,07990 + Days Past Due 793OREO & Foreclosed 1,438 -------- Nonperforming Assets (Net) $ 12,310 ======== Performing TDRs $ 1,075



Loans: Linked Quarter Comparison Average Loan 12/31/2011 12/31/2011 09/30/2011Balances & Yields Balance Yield Balance ----------- ---------- -----------Real Estate Loans 1-4 Family $ 384,094 5.21% $ 360,569 Commercial 132,074 5.64% 126,299 ----------- ----------- 516,168 5.32% 486,868 Non-Real Estate Loans Commercial $ 27,258 6.06% $ 26,223 Consumer 77,647 9.33% 78,645 ----------- ----------- 104,905 8.48% 104,868 Total All Loans $ 621,073 5.85% $ 591,736 =========== =========== Average Loan 09/30/2011 Change ChangeBalances & Yields Yield Balance Yield ---------- ----------- ----------Real Estate Loans 1-4 Family 5.59% $ 23,525 -0.38% Commercial 5.69% 5,775 -0.05% ----------- 5.62% 29,300 -0.30% Non-Real Estate Loans Commercial 5.99% $ 1,035 0.07% Consumer 9.67% (998) -0.34% ----------- 8.75% 37 -0.27% Total All Loans 6.17% $ 29,337 -0.32% =========== Prior Year Comparison 12/31/2011 12/31/2011 12/31/2010Average Loan Balances & Yields Balance Yield Balance ----------- ---------- -----------Real Estate Loans 1-4 Family $ 384,094 5.21% $ 351,121 Commercial 132,074 5.64% 134,698 ----------- ----------- 516,168 5.32% 485,819 Non-Real Estate Loans Commercial $ 27,258 6.06% $ 28,889 Consumer 77,647 9.33% 80,839 ----------- ----------- 104,905 8.48% 109,728 Total All Loans $ 621,073 5.85% $ 595,547 =========== =========== Prior Year Comparison 12/31/2010 Change ChangeAverage Loan Balances & Yields Yield Balance Yield ---------- ----------- ----------Real Estate Loans 1-4 Family 5.81% $ 32,973 -0.60% Commercial 5.76% (2,624) -0.12% ----------- 5.80% 30,349 -0.48% Non-Real Estate Loans Commercial 6.21% (1,631) -0.15% Consumer 9.29% (3,192) 0.04% ----------- 8.48% (4,823) 0.00% Total All Loans 6.29% $ 25,526 -0.44% ===========Loans: Linked Quarter Comparison Average Loan 09/30/2011 09/30/2011 06/30/2011Balances & Yields Balance Yield Balance ----------- ---------- -----------Real Estate Loans 1-4 Family $ 360,569 5.59% $ 352,181 Commercial 126,299 5.69% 130,800 ----------- -----------Total Real Estate Loans $ 486,868 5.62% $ 482,981 Non-Real Estate Loans Commercial $ 26,223 5.99% $ 24,813 Consumer 78,645 9.67% 78,626 ----------- -----------Total Non-Real Estate Loans 104,868 8.75% 103,439 Total All Loans $ 591,736 6.17% $ 586,420 =========== =========== Average Loan 06/30/2011 Change ChangeBalances & Yields Yield Balance Yield ---------- ----------- ----------Real Estate Loans 1-4 Family 5.70% $ 8,388 -0.11% Commercial 5.58% (4,501) 0.11% -----------Total Real Estate Loans 5.67% 3.887 -0.05% Non-Real Estate Loans Commercial 5.97% $ 1,410 0.02% Consumer 9.51% 19 0.16% -----------Total Non-Real Estate Loans 8.66% 1,429 0.09% Total All Loans 6.20% $ 5,316 -0.03% =========== Loans: Prior Year Comparison Average Loan 09/30/2011 09/30/2011 09/30/2010Balances & Yields Balance Yield Balance ----------- ---------- -----------Real Estate Loans 1-4 Family $ 353,573 5.73% $ 349,621 Commercial 131,192 5.63% 138,950 ----------- ----------- 484,765 5.70% 488,571 Non-Real Estate Loans Commercial $ 26,211 5.99% $ 29,996 Consumer 79,378 9.42% 80,567 ----------- ----------- 105,589 8.57% 110,563 Total All Loans $ 590,354 6.21% $ 599,134 =========== =========== Average Loan 09/30/2010 Change ChangeBalances & Yields Yield Balance Yield ---------- ----------- ----------Real Estate Loans 1-4 Family 5.98% $ 3,952 -0.25% Commercial 5.82% (7,758) -0.19% ----------- 5.94% (3,806) -0.24% Non-Real Estate Loans Commercial 6.37% $ (3,785) -0.38% Consumer 9.30% (1,189) 0.12% ----------- 8.50% (4,974) 0.07% Total All Loans 6.41% $ (8,780) -0.20% =========== Interest-bearing Liabilities: Linked Quarter Comparison Average balances 12/31/2011 12/31/2011 9/30/2011 9/30/2011 $Balance Avg. Yield $Balance Avg. Yield ----------- ---------- ----------- ---------- NOW Accounts $ 111,078 0.18% $ 108,579 0.14% Non-interest bearing Deposits 81,272 0.00% 87,454 0.00% ----------- ---------- ----------- ---------- Checking Total $ 192,350 0.11% $ 196,033 0.08% Savings Accounts $ 186,897 0.31% $ 191,840 0.33% Money Market Accounts 54,473 0.23% 54,787 0.30% ----------- ---------- ----------- ---------- Total Smart Growth Deposits $ 433,720 0.21% $ 442,660 0.22% Time Deposits $ 160,656 2.24% $ 165,284 2.25% Total Deposits $ 594,376 0.76% $ 607,944 0.77% FHLB Advances $ 120,740 3.15% $ 92,514 3.93% ----------- ---------- ----------- ---------- Total Interest-bearing liabilities $ 633,844 1.31% $ 613,004 1.36% =========== =========== Non-interest bearing Deposits $ 81,272 0.00% $ 87,454 0.00% Average balances Change Change %Balance $Balance Avg. Yield Change ----------- ---------- ---------- NOW Accounts $ 2,499 0.04% 2.3% Non-interest bearing Deposits $ (6,182) 0.00% -7.1% ----------- ---------- ---------- Checking Total $ (3,683) 0.03% -1.9% Savings Accounts $ (4,943) -0.02% -2.6% Money Market Accounts (314) -0.07% -0.6% ----------- ---------- ---------- Total Smart Growth Deposits $ (8,940) -0.01% -2.0% Time Deposits $ (4,628) -0.01% -2.8% Total Deposits $ (13,568) -0.01% -2.2% FHLB Advances $ 28,226 -0.78% 30.5% ----------- ---------- ---------- Total Interest-bearing liabilities $ 20,840 -0.05% 3.4% =========== Non-interest bearing Deposits $ (6,182) 0.00% -7.1% Interest-bearing Liabilities: Prior Year Comparison Average balances 12/31/2011 12/31/2011 12/31/2010 12/31/2010 $Balance Avg. Yield $Balance Avg. Yield ----------- ---------- ----------- ---------- NOW Accounts $ 111,078 0.18% $ 105,225 0.18% Non-interest bearing Deposits 81,272 0.00% 73,015 0.00% ----------- ---------- ----------- ---------- Checking Total $ 192,350 0.11% $ 178,240 0.11% Savings Accounts $ 186,897 0.31% $ 167,291 0.60% Money Market Accounts 54,473 0.23% 58,559 0.35% ----------- ---------- ----------- ---------- Total Smart Growth Deposits $ 433,720 0.21% $ 404,090 0.35% Time Deposits $ 160,656 2.24% $ 175,947 2.53% Total Deposits $ 594,376 0.76% $ 580,037 1.01% FHLB Advances $ 120,740 3.15% $ 95,251 4.53% ----------- ---------- ----------- ---------- Total Interest-bearing liabilities $ 633,844 1.31% $ 602,273 1.69% =========== =========== Non-interest bearing Deposits $ 81,272 0.00% $ 73,015 0.00% Average balances Change Change %Balance $Balance Avg. Yield Change ----------- ---------- ---------- NOW Accounts $ 5,853 0.00% 5.6% Non-interest bearing Deposits 8,257 0.00% 11.3% ----------- ---------- ---------- Checking Total $ 14,110 0.00% 7.9% Savings Accounts $ 19,606 -0.29% 11.7% Money Market Accounts (4,086) -0.12% -7.0% ----------- ---------- ---------- Total Smart Growth Deposits $ 29,630 -0.14% 7.3% Time Deposits $ (15,291) -0.29% -8.7% Total Deposits $ 14,339 -0.25% 2.5% FHLB Advances $ 25,489 -1.38% 26.8% ----------- ---------- ---------- Total Interest-bearing liabilities $ 31,571 -0.38% 5.2% =========== Non-interest bearing Deposits $ 8,257 0.00% 11.3% Interest-bearing Liabilities: Linked Quarter Comparison Average balances 09/30/2011 09/30/2011 06/30/2011 06/30/2011 $Balance Avg. Yield $Balance Avg. Yield ----------- ---------- ----------- ---------- NOW Accounts $ 108,579 0.14% $ 112,611 0.18% Non-interest bearing Deposits 87,454 0.00% 84,114 0.00% ----------- ---------- ----------- ---------- Checking Total $ 196,033 0.08% $ 196,725 0.10% Savings Accounts $ 191,840 0.33% $ 190,379 0.38% Money Market Accounts 54,787 0.30% 55,619 0.27% ----------- ---------- ----------- ---------- Total Smart Growth Deposits $ 442,660 0.22% $ 442,723 0.24% Time Deposits $ 165,284 2.25% $ 171,055 2.33% Total Deposits $ 607,944 0.77% $ 613,778 0.82% FHLB Advances $ 92,514 3.93% $ 79,879 4.61% ----------- ---------- ----------- ---------- Total Interest-bearing liabilities $ 613,004 1.36% $ 609,543 1.43% =========== =========== Non-interest bearing Deposits $ 87,454 0.00% $ 84,114 0.00% Average balances Change Change %Balance $Balance Avg. Yield Change ----------- ---------- ---------- NOW Accounts $ (4,032) -0.04% -3.6% Non-interest bearing Deposits 3,340 0.00% 4.0% ----------- ---------- ---------- Checking Total $ (692) -0.02% -0.4% Savings Accounts $ 1,461 -0.05% 0.8% Money Market Accounts (832) 0.03% -1.5% ----------- ---------- ---------- Total Smart Growth Deposits $ (63) -0.02% 0.0% Time Deposits $ (5,771) -0.08% -3.4% Total Deposits $ (5,834) -0.05% -1.0% FHLB Advances $ 12,635 -0.68% 15.8% ----------- ---------- ---------- Total Interest-bearing liabilities $ 3,461 -0.07% 0.6% =========== Non-interest bearing Deposits $ 3,340 0.00% 4.0% Interest-bearing Liabilities: Average Quarter Balances Average balances 09/30/2011 09/30/2011 09/30/2010 09/30/2010 $Balance Avg. Yield $Balance Avg. Yield ---------- ----------- ---------- ----------- NOW Accounts $ 108,579 0.14% $ 103,467 0.26% Non-interest bearing Deposits 87,454 0.00% 66,808 0.00% ---------- ----------- ---------- ----------- Checking Total $ 196,033 0.08% $ 170,275 0.16% Savings Accounts $ 191,840 0.33% $ 163,157 0.69% Money Market Accounts 54,787 0.30% 61,305 0.40% ---------- ----------- ---------- ----------- Total Smart Growth Deposits $ 442,660 0.22% $ 394,737 0.41% Time Deposits $ 165,284 2.25% $ 181,517 2.60% Total Deposits $ 607,944 0.77% $ 576,254 1.10% FHLB Advances $ 92,514 3.93% $ 100,831 4.52% ---------- ----------- ---------- ----------- Total Interest-bearing liabilities $ 613,004 1.36% $ 610,277 1.79% ========== ========== Non-interest bearing Deposits $ 87,454 0.00% $ 66,808 0.00% Average balances Change Change %Balance $Balance Avg. Yield Change ----------- ----------- ----------- NOW Accounts $ 5,112 -0.12% 4.9% Non-interest bearing Deposits 20,646 0.00% 30.9% ----------- ----------- ----------- Checking Total $ 25,758 -0.08% 15.1% Savings Accounts $ 28,683 -0.36% 17.6% Money Market Accounts $ (6,518) -0.10% -10.6% ----------- ----------- ----------- Total Smart Growth Deposits $ 47,923 -0.19% 12.1% Time Deposits $ (16,233) -0.35% -8.9% Total Deposits $ 31,690 -0.33% 5.5% FHLB Advances $ (8,317) -0.59% -8.2% ----------- ----------- ----------- Total Interest-bearing liabilities $ 2,727 -0.43% 0.4% =========== Non-interest bearing Deposits $ 20,646 0.00% 30.9%



Quarter-End Loan Quality DetailsDecember 31, 2011 Total Special % % %(In Thousands) Loans Classified Total Mention Total Pass Total -------- ---------- ----- ------- ------ -------- -----Commercial Loans Commercial Land $ 15,163 $ 4,629 30.5% $ 64 0.4% $ 10,470 69.1% Commercial Construction 9,068 763 8.4% 379 4.2% 7,926 87.4% Commercial Real Estate 118,693 1,177 1.0% 4,237 3.6% 113,279 95.4% Commercial Non Real Estate 27,217 51 0.2% 127 0.5% 27,039 99.3% -------- ---------- ----- ------- ------ -------- ----- Total Commercial $170,141 $ 6,620 3.9% $ 4,807 2.8% $158,714 93.3% Residential Loans Residential Construction $ 9,589 $ -- 0.00% $ -- 0.0% 9,589 100.0% Residential 377,655 3,889 1.00% 181 0.0% 373,585 99.0% -------- ---------- ----- ------- ------ -------- ----- Total Residential $387,244 $ 3,889 1.00% $ 181 0.0% $383,174 99.0% Consumer Loans Mobile Homes $ 37,494 $ 495 1.3% $ -- 0.0% $ 36,999 98.7% Consumer Other 39,545 260 0.7% - 0.0% 39,285 99.3% -------- ---------- ----- ------- ------ -------- ----- Total Consumer $ 77,039 $ 755 1.0% $ -- 0.0% $ 76,284 99.0% Total All Loans $634,424 $ 11,264 1.8% $ 4,988 0.8% $618,172 97.4% ======== ========== ===== ======= ====== ======== ===== Quarter-End Loan Quality DetailsSeptember 30, 2011 Total Special % % %(In Thousands) Loans Classified Total Mention Total Pass Total -------- ---------- ----- -------- ----- -------- -----Commercial Loans Commercial Land $ 15,721 $ 4,792 30.5% $ 166 1.1% $ 10,763 68.4% Commercial Construction 9,473 1,052 11.1% 381 4.0% 8,040 84.9% Commercial Real Estate 111,558 1,848 1.7% 2,534 2.3% 107,176 96.1% Commercial Non Real Estate 27,403 58 0.2% 558 2.0% 26,787 97.8% -------- ---------- ----- -------- ----- -------- ----- Total Commercial $164,155 $ 7,750 4.7% $ 3,639 2.2% $152,766 93.1% Residential Loans Residential Construction $ 10,604 $ -- 0.0% $ -- 0.0% $ 10,604 100.0% Residential 356,950 3,320 0.9% 183 0.1% 353,447 99.0% -------- ---------- ----- -------- ----- -------- ----- Total Residential $367,554 $ 3,320 0.9% $ 183 0.1% $364,051 99.0% Consumer Loans Mobile Homes $ 38,285 $ 379 1.0% $ -- 0.0% $ 37,906 99.0% Consumer Other 40,227 248 0.6% -- 0.0% 39,979 99.4% -------- ---------- ----- -------- ----- -------- ----- Total Consumer $ 78,512 $ 627 0.8% $ -- 0.0% $ 77,885 99.2% Total All Loans $610,221 $ 11,697 1.9% $ 3,822 0.6% $594,702 97.5% ======== ========== ===== ======== ===== ======== ===== 

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

MarketWire

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