Acadiana Business

IberiaBank sees rapid growth in Houston market

by Heather Miller

A Houston Business Journal report notes that Lafayette-based IberiaBank has experienced a $480 million growth in its Houston-area loan portfolio over the past two years. IberiaBank's loan portfolio in the Houston market as of the end of 2011 is more than eight times larger than it was at the end of 2009.

According to a recent report from the Houston Business Journal, the Lafayette-based Southeastern regional bank reportedly grew its loans in the Houston area from $60 million at the end of 2009 to $540 million by year-end 2011, growth that IberiaBank execs expect to continue as the bank opens more branches and explores acquisitions in the Houston market:

"It has not slowed down at all: In fact, it has accelerated," said Kevin Rafferty, executive vice president and South Texas regional president of Iberia. In addition, the bank is still looking for more locations and is open to acquisition discussions for banks in Houston - but it is talent acquisition that the bank has been successful at lately, he said.

IberiaBank is slated to soon complete the acquisition of Florida Gulf Bank in a $43.7 million deal that - pending Florida Gulf shareholder approval - will mean the addition of eight offices in the Fort Meyers-Cape Coral market, $376 million in assets, $248 million in loans and $302 million in deposits for IberiaBank.

The bank plans to release its second-quarter earnings at the close of business July 25.