Louisiana Bancorp Q3 net income increases

Louisiana Bancorp, Inc. has reported a net income of $647,000, or $0.24 per diluted share, for the third quarter ended September 30, 2012, compared to $496,000, or $0.17 per diluted share, for the same quarter ended September 30, 2011.

Net interest income for the third quarter ended September 30, 2012 was $2.56 million, compared to $2.43 million for the same quarter ended September 30, 2011.

Net income for the nine months ended September 30, 2012 was $1.78 million, or $0.64 per diluted share, compared to $1.53 million, or $0.50 per diluted share, for the same period ended September 30, 2011.

Net interest income for the nine months ended September 30, 2012 was $7.50 million, compared to $7.31 million for the same period ended September 30, 2011.

Lawrence LeBon, III, Chairman, President and CEO of the Company and the Bank, said: "Despite the inconvenience caused by Hurricane Isaac during the third quarter of 2012, we were pleased to maintain the increased levels of non-interest income derived from our mortgage lending operations, as well as the increases in interest income earned on loans attributable to the growth of our loan portfolio. Our banking facilities received minimal damage as a result of the hurricane, and our initial assessment of the collateral securing our mortgage loan portfolio reflects the same."