Teche Federal Bank's holding company has reported a slight earnings decrease for the second quarter of the 2014 fiscal year.
Teche Federal Bank's holding company has reported a slight earnings decrease for the second quarter of the 2014 fiscal year.
Teche, in a press release issued Thursday, reports second quarter earnings of $1.1 million, or $0.51 per diluted share, for the second quarter ending March 31. That amounts to a 32 percent drop from the $1.6 million, or $0.75 per share, in earnings reported during the second quarter a year ago.
Teche's second quarter drop comes on the heels of a similar decrease in the first quarter of this year, which brought an end to a five-year streak of earnings increases. The second quarter earnings report also shows a drop from the first quarter of this year by $1.3 million.
The bank is also undergoing the finalization of its buyout by IberiaBank, a deal valued at $161 million that is expected to close in the coming months. Read more on that here.