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The Lafayette, La., bank ended its M&A break Monday by announcing an agreement to buy a nearby rival, Teche Holding. It says more deals are likely, adding to the rise of buyers based in the South.
January 13 -
IberiaBank Corp. (IBKC) said its president and chief executive has set up a plan to sell up to 11% of his stock in the Lafayette, La., company.
December 11 -
Iberiabank Corp. (IBKC) in Layfayette, La., has agreed to buy Synovus Financial (SNV) operations in Memphis.
September 6 -
Iberiabank Corp. in Lafayette, La., has named a new chief credit officer.
May 14
Iberiabank Corp. (IBKC) of Lafayette, La.,
The $13.4 billion-asset company's fourth-quarter net income rose 10% from a year earlier, to $25.6 million. At 86 cents, Iberiabank's earnings per share beat the average estimate of analysts polled by Bloomberg by 2 cents.
Nonperforming assets, excluding acquired assets, made up 0.61% of total assets at Dec. 31. Loans past due 30 days or more made up just 0.8% of total loans. The loan-loss provision decreased by 3% from a year earlier, to $4.7 million. Net chargeoffs totaled $1.4 million in the fourth quarter.
In a press release Wednesday, Iberiabank Chief Executive Daryl Byrd also touted the company's deposit mix as a reason for success. Iberiabank's net interest income rose 3% from a year earlier, to $103.4 million. The net interest margin compressed by 3 basis points from a year earlier, to 3.52%.
Noninterest income fell 23% from the fourth quarter of 2012, to $38.7 million. Noninterest expense declined 10% from a year earlier, to $102.7 million.
Iberiabank's earnings close a busy month of January for the company. On Jan. 13, Iberiabank
