Acadiana Business

Home Bank takes home $2.1 million in 1Q

by Heather Miller

Home Bank reported 2012 first-quarter earnings of $2.1 million. Lafayette-based Home Bank reported $2.1 million in income for the first quarter of 2012, marking a $1.3 million increase (159 percent) in revenues as compared to the same three-month period last year.

According to a release from Home Bank, the first-quarter earnings are down slightly (3 percent) from the fourth quarter of 2011. The current earnings represent 29 cents per share.

Home Bank completed the acquisition of GS Financial Corp., the former holding company of Guaranty Savings Bank of Metairie on July 15 in a $26.4 million cash deal, adding $256.7 million in assets to the bank's portfolio.

"We continue to benefit from the vibrancy of the South Louisiana economy," Home Bank President and CEO John Bordelon says in a prepared statement. "In what has traditionally been a slow quarter for South Louisiana banks, our loan portfolio grew at an annualized rate of 7 [percent] during the first three months of 2012.  That growth was spread across each of our markets. Although the national economic landscape remains uncertain, our customers are focused on doing what they do best creating jobs and moving Louisiana forward."

Read the full release from Home Bank here.