Hibernia Bancorp Inc. reported first-quarter net income of $4,000, or 1 cent per share, compared to net income of $26,000, or 3 cents per share, for the same quarter in 2013.

New Orleans-based Hibernia Bancorp is the holding company of Hibernia Bank.

Peyton Bush III, president and CEO, said total loans and the average yield on loans were below first-quarter 2013 levels resulting in lower net interest income.

The company also announced plans for a fifth stock repurchase program, up to 90,000 shares, or abouty 9.1 percent of the company’s outstanding common stock.