New Iberia-based Teche Holding Company, parent company of Teche Federal Bank, is the only Louisiana bank appearing on an Honor Roll list of 40 banks nationwide that made the grade in 2010.
The selective “Bank Honor Roll” is compiled by investment bank Keefe, Bruyette and Woods and lists banking companies with at least $500 million in assets that outperformed in earnings and the overall stock market over the past five to 10 years, according to a release from Teche Federal.
KBW, a full-service investment bank that operates in the U.S., Europe and Asia, screened almost 400 banks during the Honor Roll process and outlined three main criteria for inclusion on the prestigious list: *No annual loss reported in net income per share before extraordinary items over the past 10 years. *2010 annual reported net income per share before extraordinary items must have been equal to or greater than peak net income per share over the past 10 years. *Consecutive increases in net income per share before extraordinary items since 2009.
Teche Federal Bank has shown consistent earnings over the past 10 years, even when the national economy took a major downturn, according to the company. Teche was one of the few southeastern publicly traded banks that turned down federal TARP money.
The 76-year-old local financial institution has more than $761 million in assets and owns 19 branches in south Louisiana, including offices in Lafayette, St. Martin, St. Mary, Iberia, Terrebonne, Lafourche, St. Landry and East Baton Rouge parishes.
For more on Teche and to view its annual reports, visit www.teche.com.
There will soon be a whole lot of shakin’ going on at Benny’s Sportshack Supplement Depot, a new concept by Opelousas native Benny Nele. Located at 2002 Johnston St., the supplement shop, smoothie bar and café, featuring hot off the press paninis and wraps, plans to open in late May.
Philip deMahy Sr., a once respected New Iberia ad exec, was sentenced May 2 to spend the next two years (he faced up to 100 years) in a state penitentiary after state and federal investigators found dozens of images depicting children engaged in lewd sexual acts on his personal computer.