Heritage NOLA Bancorp, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
March 31, 2024
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Heritage NOLA Bancorp, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported net interest income was USD 4.41 million compared to USD 5.28 million a year ago. Net loss was USD 1.54 million compared to net income of USD 0.626 million a year ago.
Basic loss per share from continuing operations was USD 1.35 compared to basic earnings per share from continuing operations of USD 0.54 a year ago.
Heritage NOLA Bancorp, Inc. operates as a bank holding company. The Company, through its subsidiary, Heritage Bank of St. Tammany (the Bank), provides banking services. The Bank operates as a community bank providing various financial services through its four branches, two in Covington, and one each in Slidell and Madisonville, Louisiana. The Bankâs primary lending products are single-family residential loans and commercial real estate loans. Its primary deposit products are demand and savings accounts, and certificates of deposit. The Bank's business consists primarily of taking deposits from the public and investing those deposits, together with funds generated from operations, in residential real estate loans, including non-owner-occupied properties and home equity lines of credit, and commercial real estate. It also originates land, construction, and multifamily loans, as well as consumer loans and commercial business loans.