LAFAYETTE, LA (AP) — Lafayette-based IberiaBank Corp. is bulking up for more potential bank acquisitions.
The Advocate reports shareholders approved its plan Tuesday to increase its shares of common stock to 100 million from 50 million shares. Stock often is used in making acquisitions.
IberiaBank, which has grown to be the largest bank headquartered in Louisiana, has averaged at least two acquisitions a year for the past several years.
The holding company said Tuesday it has completed its purchase of Old Florida Bancshares Inc. and its subsidiary banks based in Orlando, Florida.
The financial holding company has 314 combined offices, including 216 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.
