Iberiabank (IBKC) in Lafayette, La., is seeking federal approval to convert a Fort Lauderdale loan production office into a full-service branch.
The $13.4 billion-asset Iberiabank opened its 200 East Las Olas Blvd. location in July as a wealth management and commercial lending office. But the bank wants to be able to service depositors there as well, so it filed an application with the Federal Reserve at the end of March requesting a conversion.
"I don't think it's a lengthy process because we were already opened and established as a loan production office," said Jennifer Brancaccio, president of the Southeast Florida market for Iberiabank, in an interview.
Brancaccio said that the branch will not look like a traditional branch because it won't include a teller line. There are two other full-service branches less than three miles from this Broward County location, so it "does not make sense to have an overlap," Brancaccio said.
Iberiabank has 10 people working office in the areas of wealth management, private lending, private banking and commercial lending.
Brancaccio added that loan demand is picking up in Florida, one of the states hit hardest by the real estate bust.
"We're seeing purchase transactions and development start to occur again," she said. "From a commercial standpoint, looking at the quality of requests or assets loaned that we are able to preview, the quality has dramatically improved."