Acadiana Business

IberiaBank looking at new Florida buys

by Heather Miller

The Lafayette-based bank continued its Florida expansion this year - and is still searching for buying opportunities in the Sunshine State.

Lafayette-based IberiaBank made a big splash in Florida almost two years ago when it purchased two failed banks, Orion Bank in Naples and Century Bank in Sarasota.

The publicly traded regional financial institution continued its Florida expansion this year when it purchased certain assets of Florida Trust Company, and according to the Gulf Coast Business Review, CEO and President Daryl Byrd tells IberiaBank investors that the company is still looking at more acquisition opportunities in the Sunshine State:

In a conference call to discuss the bank's most recent earnings, IberiaBank executives told investors they continue to seek acquisitions in Florida, though they weren't too specific for obvious competitive reasons.

In response to a specific question about this from a banking analyst, Daryl Byrd, president and CEO of IberiaBank, says the bidding for failed banks in Florida has become more aggressive. "We have to kiss a lot of frogs to find the few that we like," says. Still, he noted, "We're seeing a lot of opportunities across that entire map."

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