First Community Bank to Get New Owner

JULY 27, 2006 - Posted at 4:38 p.m. CDT

JONESBORO, AR - The landscape of Jonesboro's banking community continues to change.

Officials with Lafayette, Louisiana-based IberaBank Corporation were in town this morning to announce their acquisition of Pocahontas Bankcorp, Inc., the holding company of First Community Bank, which serves northeast Arkansas with 21 branches in several communities, including Jonesboro, Pocahontas and Paragould.

IberiaBank president and CEO Daryl Byrd says his company was attracted to northeast Arkansas due to the region's rapid pace of commercial and industrial growth.  "We're extraordinarily impressed with the foresight of this community, in kind of thinking through how to grow this area.  We drive around town and see the different plants, and you've got...I guess the largest rice milling operation in the world," said Byrd.

The transaction is expected to be finalized before the end of the year, pending shareholder and regulatory approval.