Iberiabank clears $329 million in stock sale - KAIT Jonesboro, AR - Region 8 News, weather, sports

Iberiabank clears $329 million in stock sale

LAFAYETTE, La. (AP) - Regional banking company Iberiabank Corp. says it received $329 million from a public offering of just under 6 million shares of its common stock.

The stock was priced at $57.75 per share.

Lafayette-based Iberiabank says it plans to use the proceeds for potential acquisitions assisted by the Federal Deposit Insurance Corp., general corporate purposes and investments in its subsidiaries.

Last November, after the FDIC shuttered two Florida banks, Iberiabank assumed $3.1 billion in assets, $2.5 billion in loans and $2.5 billion in deposits, along with 34 banking offices.

Iberiabank now has 136 banking offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

Powered by Frankly