|Traded as||NASDAQ: IBKC
Russell 2000 Component
|Founded||New Iberia, Louisiana, United States (1887)|
|Daryl G. Byrd, MBA President, Chief Executive Officer & Director|
|Revenue||US$ 867.25 million (2015)|
|US$ 142.84 million (2015)|
|Total assets||US$ 20.09 billion (2016)|
|Total equity||US$ 2.54 billion (2016)|
Number of employees
IberiaBank Corporation, stylized as IBERIABANK, is an American financial holding company headquartered in Lafayette, LA and the largest bank based in Louisiana. Founded in 1887, it now has over 250 combined offices in 10 states primarily throughout the South. The company has eight locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.
IberiaBank is an FDIC-insured institution regulated by the Office of the Comptroller of the Currency. On March 31, 2009, as the financial crisis came to an end, IberiaBank became the first financial institution in the country to repay its TARP funds to the Treasury.
The bank opened its doors on March 12, 1887 as a savings and loan association under the name Iberia Building Association. The name originates from New Iberia, LA, which dates back to 1779 when Spanish immigrants named their newly settled “Nueva Iberia” after the Iberian Peninsula. At the time the bank was founded, New Iberia was a farming community of about 3,000 people. Its principal industry was sugarcane farming, as the area’s oil reserves, which would later spur population and economic growth, had yet to be discovered.
In 1956 Iberia Building Association changed its name to Iberia Savings & Loan (ISLA). Since savings and loan associations, or “thrifts,” could not lend to businesses, ISLA was not affected by the oil crisis in the early 1980s like many Louisiana commercial banks were.
After regulations preventing thrifts from expanding eased in 1985, the bank absorbed several struggling during the 1980s oil glut. Branches opened in Morgan City and Franklin, LA, moving the thrift beyond Iberia Parish for the first time. ISLA became Iberia Savings Bank (ISB) in 1988, and expansion continued the following year into Lafayette, LA with the acquisition of Acadia Savings & Loan.
Additional regulatory changes in the early 1990s permitted Louisiana savings and loan associations to become state-chartered commercial banks. Bank President Larrey Mouton prepared the company for this transition by forming the holding company ISB Financial Corporation and releasing an IPO on April 13, 1995.
In 1999, former Bank One executive Daryl Byrd took over as CEO, ushering in a period of rapid growth for the bank. With its new name IBERIABANK Corporation, the company would grow to acquire 24 banks since 2001.
When Hurricane Katrina hit the gulf coast in 2005, IberiaBank incurred hurricane-related expenses including loan losses associated with the storm, facility repairs and insurance deductible payments. Being a bank solely based in Louisiana, the organization decided to diversify its geographic footprint in the years following the storm to minimize risk. The bank expanded beyond Louisiana for the first time in 2007 with the purchase of Arkansas –based Pulaski Bank and Trust.
Spring of 2008 began a period of rapid growth fueled by accumulating the assets of failed banks in the aftermath of the global financial crisis. It began with the assumption of insured deposits from Arkansas-based ANB Financial, the third FDIC-insured bank to fail in 2008. The following year, IBERIABANK assumed the assets and branches of Birmingham-based CapitalSouth, Orion Bank of Florida, and Century Bank of Florida. Its fifth and final FDIC-assisted transaction occurred late 2009 with the purchase of East Florida’s Sterling Bank.
2000-2017: Mergers and acquisitions
The company has grown to acquire 24 other banks since 2001.
Divisions and subsidiaries
IBERIABANK Corp. is the holding company for IBERIABANK, which contains the consumer and commercial banking arms of the company, as well as its mortgage lending division. IBERIABANK also has six active, wholly owned non-bank subsidiaries and divisions.
IBERIA Capital Partners (ICP) is a subsidiary of IBERIABANK that performs equity research, institutional sales, trading, and investment banking. Its clients are institutional accounts, such as pension fund managers, mutual funds, hedge funds, and energy firms seeking financial advice.
Iberia Financial Services (IFS) offers securities and other financial products through Essex National Securities, Inc. (ENSI), a registered broker/dealer and member FINRA and SIPC. Additionally, IFS provides investment products and services, such as mutual funds, 529 plans, annuities, stocks, insurance, bonds, and retirement plans.
IBERIA Wealth Advisors (IWA) is the trust and asset management division of IBERIABANK. IWA provides wealth management and trust services for high net worth individuals, their families, corporations, pension funds, foundations, endowments, and public and private institutions. IBERIA Wealth Advisors currently has offices in Louisiana, Alabama, Arkansas, Florida, and Texas.
Lender's Title Group is a full-service title agency providing title insurance and closing services throughout Arkansas and Louisiana under the names Lenders title Company (Arkansas), United Title of Louisiana (Louisiana), American Abstract (Little Rock, Arkansas), and The Title Company (Baton Rouge, Louisiana). Lenders Title Company’s title insurance products and closing services insure and facilitate residential home sales, home refinances, HELOCs, commercial property transactions, commercial financing, government land projects, and REO sales. The Lenders Title Company team is made up of title agents, escrow officers, legal professionals and support staff. Lender’s Title is the largest independent title insurance company in Arkansas.
Mercantile Capital Corporation is a subsidiary of IBERIABANK which lends to small business seeking to acquire real estate and equipment using the SBA 504 Loan Program. Mercantile lends in all 50 states, Puerto Rico and the District of Columbia.
- 1st Place for Top Workplaces 2015 (Large Companies), recognized by The Times-Picayune
- 1st Place for Best Banking Service, recognized by Times of Acadiana Best of 2016
- Included on Advisory HQ's 2016 list of the Top 16 Best Banks in Florida
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- "IBERIABANK celebrates 125 years in business". Deer Park Broadcaster. Retrieved 2016-06-28.
- "IFS has named Wentworth as investment executive". Greater Fort Meyers Chamber of Commerce. 25 May 2016. Retrieved 2016-07-07.
- "4 Banks Become First to Repay TARP Money". The New York Times. 31 March 2009. Retrieved 6 July 2016.
- "FDIC Bank Search". FDIC. Retrieved 8 July 2016.
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- "IberiaBank 120 years young". The Daily Iberian. 3 October 2007. Retrieved 14 July 2016.
- "ISB Financial Corporation completes stock repurchase program". prnewswire.com. 28 June 1999. Retrieved 14 July 2016.
- "IberiaBank has record year". The_Advocate. January 2012. Retrieved 7 July 2016.
- "IberiaBank Back Up and Running". National Mortgage News. 14 November 2005. Retrieved 13 July 2016.
- "Goodbye Pulaksi Bank". Arkansas Times. 3 April 2009. Retrieved 14 July 2016.
- "ANB Financial fails, taken over by Iberiabank unit". Reuters. 9 May 2008. Retrieved 14 July 2016.
- "IberiaBank snags failed Sterling Bank". South Florida Business Journal. 23 July 2010. Retrieved 12 July 2016.
- "IBERIABANK, LBA merge in $52 million deal". The Daily Iberian. 24 September 2002. Retrieved 14 July 2016.
- "IBERIABANK Corporation Announces Merger". prnewswire.com. 13 November 2003. Retrieved 14 July 2016.
- "IBERIABANK to buy American Horizons Bancorp". The New York Times. 30 September 2004. Retrieved June 30, 2016.
- "Goodbye Pulaksi Bank". Arkansas Times. 3 April 2009. Retrieved July 14, 2016.
- "ANB Financial fails, taken over by Iberiabank unit". Reuters. 9 May 2008. Retrieved July 14, 2016.
- "Failed Bank Information". FDIC. 15 January 2013. Retrieved 14 July 2016.
- "Failed Bank Information". FDIC. 13 November 2009. Retrieved 14 July 2016.
- "Century Bank Federal Savings Bank is closed by FDIC". failedbankreporter.com. November 2009. Retrieved 13 July 2016.
- "Lafayette-based IberiaBank Acquires Omni Bank". New Orleans City Business. February 2011. Retrieved 14 July 2016.
- "IberiaBank Acquires Cameron State Bank". Southwest Daily News. March 2011. Retrieved July 14, 2016.
- "IberiaBank to Acquire Florida Gulf Bank". Naples Daily News. March 2012. Retrieved July 14, 2016.
- "IberiaBank Buying Memphis Branches of Trust One Bank". Acadiana Business. September 2013. Retrieved 14 July 2016.
- "IberiaBank to Acquire Acadiana Competitor". NOLA.com. January 2014. Retrieved 14 July 2016.
- "IberiaBank Buys Dallas-based First Private Bank". Fort Worth Business. February 2014. Retrieved 14 July 2016.
- "Lafayette-based IberiaBank Acquires Florida Bank Group". The Advocate. October 2014. Retrieved 14 July 2016.
- "IberiaBank to Acquire Old Florida Bancshares". Orlando Business Journal. October 2014. Retrieved 14 July 2016.
- "IberiaBank Expands into Atlanta Market in Latest Merger Deal". NOLA.com. December 2014. Retrieved 14 July 2016.
- "IBERIABANK Corporation Announces Agreement to Acquire Sabadell United Bank, N.A.". IBERIA Bank. March 2017. Retrieved 1 March 2017.
- "IBERIA Capital Partners". Retrieved 1 July 2016.
- "Iberia Financial Services". Retrieved 1 July 2016.
- "IBERIA Wealth Advisors". Retrieved 1 July 2016.
- "Lender's Title Group". Retrieved 14 July 2016.
- "Mercantile Capital Corporation". Retrieved 14 July 2016.
- "NOLA.com Top Workplaces 2015". NOLA.com. Retrieved 2016-07-14.
- "Times of Acadiana Best of 2016". The Advertiser. Retrieved 2016-07-14.
- "Top 16 Best Banks in Florida 2016". Advisory HQ. Retrieved 2016-07-14.