Teche Holding Co.’s earnings for the three months ending March 31 dipped to $1.6 million, or 75 cents per share, compared with $1.7 million, or 82 cents per share, a year earlier for the New Iberia business.
The results for the second quarter of Teche’s fiscal year fell well short of stock analysts’ expectations. Analysts surveyed by Thomson Reuters forecast earnings of 85 cents per share on revenue of $11.6 million for the holding company of Teche Federal Bank.
Teche’s revenue was $11.3 million.
Teche reported lower net interest income — $7.3 million compared with $7.7 million — primarily because the bank sold $46.3 million of mortgages.
In a news release, Teche President and Chief Executive Officer Patrick Little said the bank’s first-half earnings of $4.6 million, or $2.24 per share, are a record. Teche earned $3.5 million, or $1.67 per share, for the same period a year ago.
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