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The Sunshine State is once again outgrowing the rest of the country and some of its community banks are eager to become the states next flagship. Florida has changed a lot since the old Barnett Bank held that title, and so has banking. But now its thriving homegrown contenders aim to reshape the fragmented banking landscape, which is dominated by out-of-state rivals.
May 27 -
Iberiabank Corp. in Lafayette, La., will enter the Atlanta market, agreeing to buy Georgia Commerce Bancshares.
December 8 -
Iberiabank is excited to add equipment finance and an SBA lending platform when it buys Old Florida Bancshares. The deal also gives the Louisiana company its first branches in Orlando.
October 27
Iberiabank in Lafayette, La., plans to raise up to $75 million in an offering of perpetual preferred stock.
The $16 billion-asset company will offer 6.625% fixed-to-floating
The bank plans to use the proceeds for general corporate purposes, including possible acquisitions such as potential FDIC-assisted transactions. Iberiabank may also use the proceeds for working capital and for investments in subsidiaries to support continued growth.
The notes will be issued and sold under an effective shelf registration statement.
Merrill Lynch and UBS Securities are joint book-running managers on the offering. Goldman Sachs is co-manager. Simpson Thacher & Bartlett is legal counsel.