IberiaBank bank gets green light to buy Florida bank
Lafayette-based Iberiabank Corp. has received approval from state and federal regulators to buy Florida Gulf Bancorp Inc. and Florida Gulf Bank. IberiaBank announced the proposed $43.7 million cash-and-stock deal in March. Florida Gulf Bancorp is the holding company of Florida Gulf Bank. The Federal Reserve Bank of Atlanta and Louisiana Office of Financial Institutions have signed off on the acquisition, leaving just the Florida Gulf Bancorp shareholders left to approve the deal. As of March 31, Florida Gulf Bancorp had total assets of $376 million, $302 million in deposits and $248 million in net loans. IberiaBank Corp., the holding company of IberiaBank, had total assets of $11.8 billion. The company has 266 offices, including 175 branches in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.
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