IberiaBank completes Teche acquisition _lowres

Advocate staff photo by BRYAN TUCK -- IberiaBank in Lafayette has grown to be the largest bank based in Louisiana with more than $15 billion in assets, primarily by acquiring other institutions. Its latest in-state acquisition was Teche Federal in nearby New Iberia, but its also been aggressively acquiring out-of-state banks to become a regional player in the industry.

IberiaBank Corp. — having averaged two acquisitions a year from 2009 to 2013 — stepped up the pace in 2014. The Lafayette-based company announced four deals, with the first of these, a $161 million stock deal for Teche Federal Holding Co., making IberiaBank the largest Louisiana-based bank.

The others helped establish IberiaBank in key, and rapidly growing, Florida, Georgia and Texas metro areas.

The most recent deal, a $195 million stock deal for Georgia Commerce Bancshares Inc. in early December, followed the IberiaBank blueprint: a financial institution in a metro area recovering from the impacts of the Great Recession, and a focus on small-business lending that leaves the bank well-positioned to take advantage of the region’s expected rapid growth.

“This is a market that our team knows very well, and we believe we are entering this market at an opportune time,” IberiaBank President and Chief Executive Officer Daryl G. Byrd said at the time.

He could have easily been speaking about the other out-of-state acquisitions: Old Florida Bancshares Inc. in the Orlando area; Florida Bank Group Inc. in the Tampa area; and First Private Holdings in the Dallas area.

At the beginning of 2014, IberiaBank had $9.2 billion in loans and close to $11 billion in deposits. By the end of the year, the company had an estimated $13.3 billion in loans and $14.8 billion in deposits.