IBERIABANK Corporation Announces Receipt of Federal Reserve Approval for
Acquisition of Additional Memphis Operations
LAFAYETTE, La., Oct. 22, 2013
LAFAYETTE, La., Oct. 22, 2013 /PRNewswire/ --IBERIABANK Corporation (NASDAQ:
IBKC), the holding company of IBERIABANK (www.iberiabank.com), announced today
the Board of Governors of the Federal Reserve System has approved the
application of IBERIABANK to acquire certain assets and assume certain
liabilities associated with the Memphis, Tennessee operations of Trust One
Bank, a division of Synovus Bank. Completion of thetransaction remains
subject to the satisfaction of customary closing conditions under the terms of
the acquisition agreement, receipt of all other remaining regulatory
approvals, and expiration of the 15-day waiting period associated with the
Federal Reserve Board's approval.
At August 31, 2013, Synovus Bank had $131 million in loans, $205 million in
total deposits, and 33 employees serving the Memphis market through six bank
At September 30, 2013, IBERIABANK Corporation (the "Company") had total assets
of $13.1 billion, shareholders' equity of $1.5 billion, and a tangible common
equity ratio of 8.64%. The Company's common stock trades on the NASDAQ Global
Select Market under the symbol "IBKC."
The Companyis a financial holding company with 267 combined offices,
including 170 bank branch offices and four LPOs in Louisiana, Arkansas,
Tennessee, Alabama, Texas, and Florida, 21 title insurance offices in Arkansas
and Louisiana, mortgage representatives in 63 locations in 12 states, eight
locations of IBERIA Wealth Advisors in four states, and one office of IBERIA
Capital Partners, L.L.C. in New Orleans.
SOURCE IBERIABANK Corporation
Contact: Beth A. Ardoin, Director of Communications, (337) 521-4701 or John R.
Davis, Senior Executive Vice President, (337) 521-4005
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