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The Louisiana company agreed to buy Florida Bank Group in a deal that will allow it to enter Jacksonville, Tallahassee and Tampa. It is the latest deal for a bank that has been an aggressive acquirer this year.
October 3 -
The company's management team is confident it can build off a beachhead, making its case by referencing past forays into Baton Rouge, La., and Houston.
February 18 -
Iberiabank Corp. (IBKC) in Lafayette, La., has agreed to buy First Private Holdings in Dallas.
February 11
Iberiabank in Lafayette, La., has
The $15.2 billion-asset Iberiabank is to pay $259 million in stock for the $1.4 billion-asset Old Florida, providing Iberiabank with its first branches in the Orlando area.
The deal furthers a push by Iberiabank to expand in central Florida. The company agreed
"The Orlando market is dynamic and possesses a deep commercial and industrial client base that is particularly attractive to us," Daryl Byrd, Iberiabank's president and chief executive, said in a press release Monday.
Iberiabank has operates 37 branches in southern Florida, according to the Federal Deposit Insurance Corp. Overall, Iberiabank has 187 branches and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.
John Burden, Old Florida's president and chief executive, would join Iberiabank as an executive vice president and market president for central Florida.
Sandler O'Neill and Smith Mackinnon advised Old Florida; UBS and Jones Walker advised Iberiabank.
