IberiaBank

IBERIABANK Corporation, stylized as IBERIABANK, was an American financial holding company headquartered in Lafayette, Louisiana, and the largest bank based in the state. Founded in 1887, it had 325 combined locations, including 190 bank branches and three loan production offices in 12 states primarily throughout the South. The company had 16 wealth management locations in five states, and one Iberia Capital Partners office in New Orleans.

IBERIABANK was an FDIC-insured institution regulated by the Office of the Comptroller of the Currency. On March 31, 2009, as the 2008 financial crisis came to an end, IberiaBank became the first financial institution in the country to repay its TARP funds to the Treasury.

In November 2019, IBERIABANK Corporation and Memphis, Tennessee-based First Horizon Corporation agreed to merge. The combined bank is based in Memphis and uses the First Horizon name. The merger closed July 2, 2020.

History

Foundations

The bank opened its doors on March 12, 1887, as a savings and loan association under the name Iberia Building Association.[3]

Divisions and Subsidiaries

IBERIABANK Corp. was the holding company for IBERIABANK, its division providing consumer and commercial banking services, as well as mortgage lending and online banking services through VirtualBank.[34]

IBERIABANK also has six active, wholly owned non-bank subsidiaries and divisions.[2]

Iberia Capital Partners (ICP) was a subsidiary of IBERIABANK that performed equity research, institutional sales, trading, and investment banking. Its clients were institutional accounts, such as pension fund managers, mutual funds, hedge funds, and energy firms seeking financial advice.[35]

Iberia Financial Services (IFS) offered securities and other financial products through Essex National Securities, Inc. (ENSI), a registered broker/dealer and member FINRA and SIPC. Additionally, IFS provided investment products and services, such as mutual funds, 529 plans, annuities, stocks, insurance, bonds, and retirement plans.[36]

Iberia Wealth Advisors (IWA) was the trust and asset management division of IBERIABANK. IWA provided wealth management and trust services for high net worth individuals, their families, corporations, pension funds, foundations, endowments, and public and private institutions.[37]

Lender's Title Group was a full-service title agency providing title insurance and closing services throughout Arkansas and Louisiana under the names Lenders title Company (Arkansas), United Title of Louisiana (Louisiana), American Abstract (Little Rock, Arkansas), and The Title Company (Baton Rouge, Louisiana). Lenders Title Company's title insurance products and closing services insured and facilitated residential home sales, home refinances, HELOCs, commercial property transactions, commercial financing, government land projects, and REO sales. The Lenders Title Company team was made up of title agents, escrow officers, legal professionals and support staff. Lender's Title was the largest independent title insurance company in Arkansas.[38]

Mercantile Capital Corporation was a subsidiary of IBERIABANK which lent to small business seeking to acquire real estate and equipment using the SBA 504 Loan Program. Mercantile lent in all 50 states, Puerto Rico and the District of Columbia.[39]

type	Subsidiary
foundation	1987, in New Iberia, Louisiana, United States
location	Lafayette, Louisiana
key people	Daryl G. Byrd (MBA president, CEO & Director)‡R1R‡
industry	Finance
products	Banking
revenue	US$ 1.2 billion (core) (2018)‡R2R‡
net income	US$ 370.25 million (2018)‡R2R‡
assets	US$ 30.8 billion (2018)‡R2R‡
equity	US$ 3.90 billion (2018)‡R2R‡
num employees	3,441 (2019)

History

Foundations

Mergers and Acquisitions

Divisions and Subsidiaries

External links

References