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Stock Market & Financial Investment News

News Breaks
November 28, 2012
08:08 EDTTSHTeche Holding announces $46.3M loan sale
Teche Holding, holding company for TecheFederal Bank, announced the sale of a portfolio of single-familyowner-occupied, performing, fixed rate mortgage loans with a book value of $46.3M. The company will recognize a one-time gain of approximately $2M in the company's Q1 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 1Q13, and strengthen the overall financial position of the company and the bank.
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