The Independent Staff

Iberiabank to raise cash through stock sale

Lafayette-based Iberiabank Corp. announced plans this week to raise $140 million in a public offering of common stock. According to an article on The Boston Globe’s Web site,
the company aims to use the cash for “possible future acquisitions, general corporate purposes, working capital and investment in its subsidiaries.”

The bank will need to sell in the neighborhood of 3.5 million shares of common stock to reach its goal.