NEW IBERIA, La. (AP) — New Iberia-based Teche Holding Co., the holding company for Teche Federal Bank, reported earnings dropped to $2.4 million, or $1.15 per share, for the three months ending Dec. 31, the first quarter of the company's fiscal year.
The Advocate reports (http://bit.ly/1fu8iG6 ) it was the first time in five years that Teche's per share earnings did not increase. A year earlier Teche reported earnings of $3.1 million, or $1.49 per share.
However, those results included an after-tax gain of $1.3 million from the sale of $46.3 million in mortgage loans. There was no similar transaction in the first quarter of fiscal 2014.
Information from: The Advocate, http://theadvocate.com