Teche reports first quarterly decline in 5 years

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News,Business

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.

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Information from: The Advocate, http://theadvocate.com

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