Nathan Stubbs

CBS Evening News to feature IberiaBank

by Nathan Stubbs

IberiaBank will be prominently featured in a news story scheduled to run tonight on the CBS Evening News with Katie Couric. IberiaBank spokeswoman Beth Ardoin says CBS News and reporter Sharyl Attkisson spent about half a day in Lafayette filming the piece on Monday, March 9. While breaking news could always push the segment back to a later date, CBS did plug the story in an ad that ran yesterday during 60 Minutes. The story, which focuses on why some community banks are returning federal bailout money, will include an interview with IberiaBank Chairman of the Board Bill Fenstermaker.

CBS News is the latest national news organization, following CNBC and The Wall Street Journal, to put the spotlight on IberiaBank. Two weeks ago, the Lafayette-based community bank made headlines by becoming the first financial institution in the country to reverse its decision to participate in the Treasury Department's Trouble Asset Relief Program. Last year, IberiaBank sold $90 million in preferred stock to Treasury through the Capital Purchase Program, designed for healthy banks. Citing new cumbersome regulations the feds have considered placing on the funds — including a cap on salary bonuses, limiting dividends and requiring some salary disclosure — IberiaBank says it plans to buy back its preferred stock as the shares mature on March 31.