This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Louisiana Bancorp, Inc. Announces Earnings For The First Quarter

Stocks in this article: LABC

The Company recorded a provision for loan losses of $141,000 during the first quarter of 2013 compared to $55,000 during the first quarter of 2012. Our allowance for loan losses was $2.1 and $1.7 million, respectively, at March 31, 2013, and 2012. As of the preceding period ending dates, our allowance for loan losses was 0.89% and 0.85% of total loans receivable. At March 31, 2013, total non-performing loans were $1.3 million, or 0.58% of total loans, and total non-performing assets were $1.9 million, or 0.62% of total assets. 

Non-interest income for the first quarter of 2013 was $497,000, an increase of $223,000 from the first quarter of 2012. Our customer service fees, which are primarily comprised of fees earned on transaction accounts, loan servicing fees, and brokered loan commissions, were $238,000 during the first quarter of 2013, an increase of $98,000 from the comparable 2012 period. Gains on the sale of mortgage loans were $181,000 during the first quarter of 2013 compared to $109,000 during the first quarter of 2012. Other non-interest income was $78,000 during the three month period ended March 31, 2013, an increase of $53,000 compared to the three month period ended March 31, 2012. This increase in other non-interest income was primarily due to a $59,000 gain on an equity investment in a small business investment company which was realized during the first quarter of 2013. There was no such gain realized during the first quarter of 2012.

Total non-interest expense was $2.0 million for the first quarter of 2013, an increase of $173,000 compared to the first quarter of 2012. Salaries and employee benefits expense increased by $50,000 and occupancy expense increased by $40,000 during the first quarter of 2013 compared to the first quarter of 2012 due primarily to the staffing and operating expenses associated with the opening of our new branch office in the second quarter of 2012. The Louisiana bank shares tax was $57,000 and $58,000, respectively, and our FDIC deposit insurance premiums were $38,000 and $37,000, respectively, for the three month periods ended March 31, 2013, and March 31, 2012. The net cost associated with our OREO operations was $18,000 during the first quarter of 2013 compared to $38,000 during the first quarter of 2012. Advertising expense increased by $50,000 to $98,000 during the first three months of 2013 compared to the first three months of 2012, due to promotional efforts related to the development of our checking account products. Other non-interest expenses were $253,000 for the first quarter of 2013, and $200,000 for the first quarter of 2012.

4 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs