LAFAYETTE, La., Feb. 22, 2018 /PRNewswire/ -- IBERIABANK
Corporation (NASDAQ: IBKC), holding company of the 130-year-old
IBERIABANK (www.iberiabank.com), in connection with its previously
announced pending acquisition with Gibraltar Private Bank &
Trust Co. ("Gibraltar"), reported
the receipt of all necessary regulatory and Gibraltar shareholder approvals. At
December 31, 2017, Gibraltar had total assets equal to
$1.6 billion, total loans of
$1.5 billion, and total deposits of
$1.1 billion.
Daryl G. Byrd, President and
Chief Executive Officer, commented, "We are very pleased to have
received all necessary approvals from our bank regulators for the
pending Gibraltar
transaction. The overwhelming support of this transaction by
Gibraltar shareholders is a
terrific expression of confidence in both organizations. We
look forward to closing the merger transaction and consolidating
branch and operating systems before the end of the first
quarter."
On October 19, 2017, the Company
announced the signing of a definitive agreement to acquire by
merger Gibraltar, based in
Coral Gables, Florida. The
application for merger was approved by the Louisiana Office of
Financial Institutions on February 5,
2018 and the Federal Reserve Board on February 21, 2018 and received the approval of
Gibraltar shareholders on
February 22, 2018. Upon
expiration of the required waiting period, the Company anticipates
closing the Gibraltar acquisition
on March 23, 2018. The Company
anticipates converting branch and operating systems associated with
the acquisition over the weekend of March
23 – 25, 2018.
IBERIABANK Corporation
IBERIABANK Corporation is a regional financial holding company
with offices in Louisiana,
Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, and South
Carolina, offering commercial, private banking, consumer,
small business, wealth and trust management, retail brokerage,
mortgage, and title insurance services.
The Company's common stock trades on the NASDAQ Global Select
Market under the symbol "IBKC". The Company's Series B Preferred
Stock and Series C Preferred Stock also trade on the NASDAQ Global
Select Market under the symbols "IBKCP" and "IBKCO",
respectively. The Company's common stock market
capitalization was approximately $4.5
billion, based on the NASDAQ Global Select Market closing
stock price on February 22, 2018.
The following 10 investment firms currently provide equity
research coverage on the Company:
- Bank of America Merrill Lynch
- FIG Partners, LLC
- Hovde Group, LLC
- Jefferies & Co., Inc.
- Keefe, Bruyette & Woods, Inc.
- Piper Jaffray & Co.
- Raymond James & Associates,
Inc.
- Sandler O'Neill + Partners, L.P.
- Stephens, Inc.
- SunTrust Robinson-Humphrey
Caution About Forward-Looking Statements
This press release contains "forward-looking statements," which
may include forecasts of our financial results and condition,
expectations for our operations and businesses, and our assumptions
for those forecasts and expectations. Do not place undue reliance
on forward-looking statements. Due to various factors, actual
results may differ materially from our forward-looking statements.
Factors that could cause our actual results to differ materially
from our forward-looking statements are described under
"Management's Discussion and Analysis of Financial Condition and
Results of Operations," "Risk Factors" and "Regulation and
Supervision" in the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2016,
and in other documents subsequently filed by the Company with the
Securities and Exchange Commission, available at the SEC's website,
http://www.sec.gov, and the Company's website,
http://www.iberiabank.com. To the extent that statements in this
press release relate to future plans, objectives, financial results
or performance by the Company, these statements are deemed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are
generally identified by use of words such as "may," "believe,"
"expect," "anticipate," "intend," "will," "should," "plan,"
"estimate," "predict," "continue" and "potential" or the negative
of these terms or other comparable terminology.
Forward-looking statements represent management's beliefs, based
upon information available at the time the statements are made,
with regard to the matters addressed; they are not guarantees of
future performance. Forward-looking statements are subject to
numerous assumptions, risks and uncertainties that change over time
and could cause actual results or financial condition to differ
materially from those expressed in or implied by such statements.
All information is as of the date of this press release. Except to
the extent required by applicable law or regulation, the Company
undertakes no obligation to revise or update publicly any
forward-looking statement for any reason.
View original
content:http://www.prnewswire.com/news-releases/iberiabank-corporation-announces-acquisition-approvals-300603085.html
SOURCE IBERIABANK Corporation