Lafayette-based IberiaBank Corp. turned a fourth-quarter profit of $35.9 million, $1.07 per share, compared to $25.6 million, or 86 cents per share, a year ago.
For the year, the company earned $105.5 million, or $3.30 per share, compared to $65.1 million, or $2.20 per share.
The company reported its fourth-quarter and annual results late Wednesday.
The company’s fourth-quarter results beat Wall Street’s expectations, but the annual earnings fell short of stock analysts’ forecasts. Analysts surveyed by Thomson Reuters expected earnings of $1.01 per share and $3.72, respectively.
President and Chief Executive Officer Daryl G. Byrd said the company improved its performance across a broad range of measures, including loan growth in 18 of 21 markets and deposit growth in 17; a 13 percent increase in average assets; as well as higher net interest margin. Those improvements took place while IberiaBank added new markets and expanded its presence in others.
The company anticipates similar success in 2015. IberiaBank expects its operating earnings per share will be in the range of $4.45 to $4.50, an increase of 19 percent to 21 percent.
During the company’s year-end financial statement close process, certain accounting entries recorded in the second and third quarters of 2014 related to the company’s mortgage banking operation were determined to be incorrect. The errors reduced the mortgage income line in the income statement by $4.4 million in the second quarter of 2014 and increased mortgage income by $1.5 million in the third quarter of 2014.