IberiaBank Corp.’s second-quarter profit dropped 41% as the regional banker sustained one-time expenses to complete two acquisitions. For the April-through-June period, IberiaBank earned $5 million, or 18 cents per share, down from a year-ago profit in the second quarter of $8.7 million, or 33 cents per share. IberiaBank took expenses equal to 15 cents per share for two deals: the $41 million acquisition of Omni Bank, giving IberiaBank 14 offices in and around Baton Rouge and New Orleans; and the $140 million acquisition of Cameron State Bank, which brought 22 Lake Charles-area locations into the fold. The deals give Lafayette-based IberiaBank a major presence in New Orleans and Lake Charles.
IberiaBank earnings fall on acquisition costs
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