Louisiana Bancorp, Inc. Announces Earnings for the Second Quarter and Stock Repurchase Program

METAIRIE, La., Aug. 1, 2008 (PRIME NEWSWIRE) -- Louisiana Bancorp, Inc. (the "Company") (Nasdaq:LABC), the holding company for Bank of New Orleans (the "Bank"), announced today that the Company's net income for the quarter ended June 30, 2008 was $637,000, or $.11 per share (basic and diluted), an increase of $228,000, from the second quarter of 2007. For the six month period ended June 30, 2008, the Company reported net income of $1.3 million, or $.22 per share (basic and diluted), an increase of $507,000 from the six month period ended June 30, 2007. These increases in net income are primarily attributed to the additional interest income generated by higher balances of average interest earning assets following the Company's initial public offering in July 2007. The impact of these increases in interest income were reduced... [read full story]