IberiaBank Corp. in Lafayette, La., is eyeing expansion in Birmingham and other metropolitan markets in Alabama.
The company entered Alabama in 2009 when it bought the failed CapitalSouth Bank in Birmingham and has opened four additional branches in the state since then. The Birmingham Business Journal reported on its web site Thursday that the $11.5 billion-asset IberiaBank intends to open another office outside of Birmingham in June and one or two more in the market by the middle of 2013.
Greg King, the bank's Birmingham market president, told the Business Journal that Birmingham in particular is home to many talented bankers who might be looking for new opportunities and said IberiaBank is "trying to capitalize on some of that talent to grow our franchise here."
At June 30, IberiaBank ranked as the 20th largest bank in Alabama, with a 0.6% share of the state's deposits, according to the Federal Deposit Insurance Corp.
King said that aside from building branches, the company would also consider acquisitions in the state. IberiaBank has acquired six banks — including four failed banks — since the start of 2009 and it recently told investors that it is eyeing additional deals in metropolitan markets throughout the Southeast.