Market Overview

Teche Holding Company Announces $46.3M Loan Sale

Related TSH
Morning Market Movers
Teche Holding Company Announces Stock Repurchase Plan of Up to 62K Shares

Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today announced the sale of a portfolio of single-family owner-occupied, performing, fixed rate mortgage loans with a book value of $46.3 million.

The Company will recognize a one-time gain of approximately $2.0 million in the Company's first fiscal quarter associated with the sale of the loans. The Bank will retain servicing of these loans.

The portfolio has a weighted average coupon rate of approximately 3.7% and a weighted average remaining term of approximately 170 months. The transaction is expected to boost the Company's capital base, increase non-interest income of the Bank for the first quarter of fiscal 2013, and strengthen the overall financial position of the Company and the Bank.

Posted-In: News Financing


Related Articles (TSH)

View Comments and Join the Discussion!