Iberiabank Corp. (IBKC) in Lafayette, La., has agreed to buy Teche Holding (TSH) in New Iberia, La.

Iberiabank will pay $161 million in stock, or $72.16 a share, to the $857 million-asset Teche. The transaction, priced at 1.71 times Teche's tangible book value, is expected to close in the second quarter.

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