Iberiabank Corp. in Lafayette, La., reported Tuesday that first-quarter earnings rose 12.6% from a year earlier, to $14.6 million, despite $1 million in acquisition costs.
Iberiabank also said it expects to complete its purchases of Omni Bancshares Inc. and Cameron Bancshares Inc. in the second quarter.
The $10 billion-asset company lowered its loan-loss provision by more than half from both the fourth quarter and a year earlier, to $5.5 million. Nonperforming assets not covered by the Federal Deposit Insurance Corp. rose 12% from a quarter earlier, to $78 million, largely because of one lending relationship, the company said.
