IBERIABANK an over a century and almost a quarter year old subsidiary of IBERIABANK Corporation (Nasdaq: IBKC) stated that it has entered into purchase and assumption agreements with loss share arrangements with the Federal Deposit Insurance Corporation ("FDIC") to purchase certain assets and to assume certain deposit and other liabilities of two Florida-based failed financial institutions.
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The two acquisitions are - Orion Bank ("Orion"), a full service Florida-chartered commercial bank headquartered in Naples, Florida and Century Bank, FSB ("Century"), a full service federal thrift headquartered in Sarasota, Florida. IBERIABANK Corporation is a multi-bank financial holding company headquartered in Lafayette, Louisiana. Upon completion of this transaction, the Company will have 204 combined offices, including 135 bank branch offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 26 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 43 locations in 11 states. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC" and the Company's market capitalization is over $900 million, based on the closing stock price on November 13, 2009. Iberiabank in association with the announcement of these transactions the Company will host a live conference call on Monday, November 16, 2009, at 8:00 a.m. Central Standard Time by dialing 1-800-288-8961. The confirmation code for the call is 124309. IBERIABANK is the 122-year-old subsidiary of IBERIABANK Corporation. With $6.5 billion in assets (as of September 30, 2009), IBERIABANK Corporation is the second largest bank holding company headquartered in Louisiana. Operating 60 branch offices throughout Louisiana, Alabama, and Florida, we employ over 750 experienced banking professionals and associates. Headquartered in Lafayette, Louisiana, we serve clients in South Central Louisiana (Acadiana), the Greater New Orleans area (including LaPlace and Houma), the Northshore of New Orleans (including Slidell, Covington and Mandeville), Northeast Louisiana (the Monroe/Ruston region), Shreveport (Northwest Louisiana), Baton Rouge, Alabama (including Birmingham, Montgeromery, and Huntsville) and Jacksonville, Florida. We cover sixteen Louisiana parishes including Lafayette, Acadia, St. Martin, Vermilion, Iberia, Ouachita, Lincoln, Morehouse, Jefferson, Orleans, Ascension, East Baton Rouge, St. Tammany, Terrebonne, St. John The Baptist and Caddo.
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