Lafayette-based IberiaBank Corp.’s second-quarter earnings jumped to $30.8 million, or 79 cents per share, compared $16.2 million, or 53 cents per share, a year earlier.
The company’s second-quarter profit was lowered by non-operating costs, including acquisition-related charges. All of those costs lowered earnings by 26 cents per share after taxes. Without those charges, IberiaBank would have earned $1.05 per share.
Those numbers would have still fallen short of Wall Street’s expectations. Analysts surveyed by Zacks Investment Research had forecast $1.09 per share.
Second-quarter performance highlights included a $32 million decline in energy-related loans, thanks to loan pay-downs and pay-offs. Energy-related loans dropped to 5.6 percent of total loans between March 31 and June 30.
IberiaBank continues to forecast little or no losses on the exploration and production or midstream energy loans outstanding.
IberiaBank Chief Executive Officer Daryl G. Byrd said the company expected 2015 operating earnings per share in the range of $4.22 to $4.27 per share, 13 percent to 14 percent above the 2014 results.
IberiaBank Corp. is the holding company of IberiaBank. The parent company has 327 combined offices, including 226 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida and Georgia.