Iberiabank Corp. of Lafayette, La., is acquiring the $265 million-asset American Horizons Bancorp Inc. of Monroe for $48 million in cash and stock.
The deal, announced Wednesday, is expected to close in the first quarter. American Horizons has eight branches in northeast Louisiana. Buying it would give the $2.4 billion-asset Iberiabank the second-largest deposit share in Ouachita County, about 16%.
Iberiabank said it would take a $900,000 deal-related charge when it closes.
JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.
Fintech lenders often get criticized for high rates or fees on their consumer lending. But there's an argument to be made that the alternatives are worse.
The Federal Reserve will seek comment on the current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.
The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.
The emerging industry could be worth as much as $480 billion in two years, and payments are central to that growth.
The two companies continue to tick items off their year-end to-do list, which analysts hope will tee up the merger for finalization in early 2025. Regulatory approval remains a major question.
