Lafayette-based IberiaBank Corp.’s third-quarter earnings jumped to $17 million, or 58 cents per share, compared to $13.7 million, or 52 cents per share, a year ago.
IberiaBank Corp. is the holding company for IberiaBank. The company reported earnings late Wednesday evening.
In a news release, Chief Executive Officer Daryl G. Byrd said the company benefited from strong growth in loans, deposits and clients.
Byrd also said the company’s net interest margin improved significantly during the quarter.
IberiaBank remains well-positioned for “this very challenging operating environment,” he said.
IberiaBank’s acquisition of Omni Bancshares Inc. and Cameron Bancshares lowered earnings, adding pre-tax costs of $6 million, or 12 cents per share.
IberiaBank also completed its repurchase of 900,000 shares of stock, at $45.98 per share, and announced a new program to repurchase 900,000 additional shares.