The Lafayette-based bank is down $199,000 from the second quarter of last year.
[Editor's Note: This article has been altered since its first publication to remove the second quarter earnings of IberiaBank and MidSouth Bank, both of which have not yet been released. The Ind regrets the error.]
Home Bank has increased its profits by almost $500,000 from the first quarter of this year, but the Lafayette-based bank's earnings are down $199,000 from the second quarter of 2010.
In a release from the company, Home Bank President and CEO John Bordelon says, "Although loan demand was relatively light during the first half of the year, the loan pipeline began to build late in the second quarter. We expect to have opportunities to deepen and add new relationships over the remainder of 2011."
Home Bank completed its acquisition of Guaranty Savings Bank of Metairie on July 15, bringing the combined assets to roughly $975 million with $640 million in loans and $720 million in deposits:
The company plans to convert operating systems at the former Guaranty Savings Bank to those of Home Bank in September 2011. The company expects to realize cost savings of approximately $1.5 million on a pre-tax basis ... Following the merger, Home Bank's capital position remains one of the strongest in the industry with total risk-based capital near 19%. No additional capital was needed to complete the transaction.
Frank’s Casing Crew, now doing business as Frank’s International, will make its final appearance on ABiz’s list of the Top 50 Privately Held Companies in Acadiana this year, and once again it will likely be at the top with more than $1 billion in annual revenues. The 75-year-old company specializing in tubular fabrication and installation services to the oil and gas industry plans to offer shares of its stock to the public for the first time.
The defeat, or rather highjacking of House Bill 420 in the final days of this year's Legislative Session, say Reps. Vincent Pierre and Terry Landry, is the result of the propaganda spread by one unidentified local media outlet and an unnamed former state Representative, but nothing to do with the original legislation's lack of checks, balances or details.
He’s a singer. A songwriter. A piano man. A family man. He’s even got his own Wikipedia entry. He’s David Egan. And he knows ancient secrets about the monolithic stones of Stonehenge that he’s not willing to share.