LAFAYETTE, LA (AP) — Lafayette-based IberiaBank Corp. reports first-quarter net income of $25.1 million, up from $22.3 million a year ago.
Per-share earnings amounted to 75 cents.
IberiaBank said it incurred non-operating expenses of $10 million on a pre-tax basis. Excluding those items, first-quarter income would have been 95 cents per share.
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Daryl G. Byrd, president and CEO, said, "a few 'timing-related' items masked the true strength of the quarter's operating results."
The Advocate reports those items included enhancing reserves for energy credits and related markets to buffer against potential losses given current oil and gas industry conditions.
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