Even as many other community banks have recoiled, Iberiabank Corp. lately has been on a growth tear — raising capital, buying four failed banks and picking up lending teams from competitors.

In the fourth quarter, Iberiabank, of Lafayette, La., increased its asset size by 50% to $9.7 billion with two failed-bank acquisitions in Florida — a state it had long eyed for expansion but where bank prices gave it pause. Those acquisitions led the company Thursday to report earnings that were well above analysts' expectations.

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