June 10, 2010 03:27

Lafayette-based IberiaBank Corp. says its $5.7 billion loan portfolio spread out mainly across the southeastern United States faces negligible impact as a result of the BP oil disaster. Lafayette-based IberiaBank Corp. says its $5.7 billion loan portfolio spread out mainly across the southeastern United States faces negligible impact as a result of the BP oil disaster, according to Yahoo Finance.

The company indicated this week that roughly 3 percent of its total loans are in the three main industries expected to take the brunt of the crisis - fishing/seafood, beach tourism and the energy sector. The bulk of the bank's credit exposure was in energy and energy transportation, with approximately $183 million in loans; the company faces an additional $10,000 exposure in fishing/seafood and virtually no credit exposure in beach tourism.

Read the full story here.

Also from Walter Pierce

Read the Flipping Paper!