Lafayette-based IberiaBank Corp., the parent company of IberiaBank, expects to raise $50 million through the issue of 2 million shares of preferred stock.

The company plans to use the proceeds for general corporate purposes, including possible future acquisitions, working capital, investment in subsidiaries and buying back shares of IberiaBank’s common stock. IberiaBank expects to close the offering on May 9.

IberiaBank will issue an additional 300,000 shares if the demand is higher than expected.