IBERIABANK Corp. serves up financial services with a Cajun flare. Through its flagship bank subsidiary, also called IBERIABANK, the holding company operates some 185 branches in Louisiana and five other southern states. It also has about 20 title insurance offices in Louisiana and Arkansas, in addition to some 60 mortgage loan offices in a dozen states. Offering deposit products such as checking and savings accounts, CDs, and IRAs, the bank uses funds gathered mainly to make loans. Commercial real estate and business loans make up nearly three-quarters of the company's loan portfolio, which also includes consumer loans and residential mortgages. Founded in 1887, IBERIABANK Corp. has $12.5 billion in assets.
Beyond Louisiana, IBERIABANK has branches in Alabama, Arkansas, Florida, Tennessee, and Texas.
IBERIABANK has eight wholly-owned nonbank subsidiaries, including brokerage unit Iberia Financial Services, IBERIABANK Insurance Services, Acadiana Holdings, IBERIABANK Mortgage Company, Little Rock, Arkansas-based Lenders Title Company, and several investment funds.
IBERIABANK's 2011 revenue increased 4% vs. 2010, while profits climbed 10% over the same period. The revenue gain was attributed to an increase in both interest and dividend income. The bank's 2011 results were driven by both organic growth and acquisitions.
Acquisitions have been a big part of IBERIABANK's growth strategy since 2003. Most recently, in 2012 IBERIABANK struck an agreement to buy Florida Gulf Bank. In 2011 the bank completed three acquisitions: OMNI Bank, with 14 offices in New Orleans and Baton Rouge, Louisiana; Cameron State Bank, with 22 offices in Lake Charles, Louisiana; and the assets of Florida Trust Company, a subsidiary of the failed Bank of Florida Corporation. (Between 2003 and 2010 the bank completed 13 acquisitions with combined total assets of more than $6 billion.) All of the acquisition activity has expanded the company's assets and branch network, helped it enter new markets, such as Florida and Texas, and strengthen its presence in existing ones. – less
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