Investor’s Buzzer –IBERIABANK Corporation (NASDAQ:IBKC)

IBERIABANK Corporation (NASDAQ:IBKC) stock price moved downward at -2.38% on Thursday. Its total market capitalization is $4428126494. Its day lowest price was $81.95 and its hit its day highest price at $84.6. The stock recent volume is 228871 shares in comparison to its average trading volume of 418530 shares. Looking at the stock’s price level on the past 52-week graph, IBKC recorded a 52-week high of $87.55 and its 52-week low of $68.55.

IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 130-year-old IBERIABANK, in connection with its previously announced pending acquisition with Gibraltar Private Bank & Trust Co. (“Gibraltar”), reported the receipt of all necessary regulatory and Gibraltar shareholder approvals.  At December 31, 2017, Gibraltar had total assets equal to $1.6 billion, total loans of $1.5 billion, and total deposits of $1.1 billion.

Daryl G. Byrd, President and Chief Executive Officer, commented, “We are very pleased to have received all necessary approvals from our bank regulators for the pending Gibraltar transaction.  The overwhelming support of this transaction by Gibraltar shareholders is a terrific expression of confidence in both organizations.  We look forward to closing the merger transaction and consolidating branch and operating systems before the end of the first quarter.”

On October 19, 2017, the Company announced the signing of a definitive agreement to acquire by merger Gibraltar, based in Coral Gables, Florida. The application for merger was approved by the Louisiana Office of Financial Institutions on February 5, 2018 and the Federal Reserve Board on February 21, 2018 and received the approval of Gibraltar shareholders on February 22, 2018.  Upon expiration of the required waiting period, the Company anticipates closing the Gibraltar acquisition on March 23, 2018.  The Company anticipates converting branch and operating systems associated with the acquisition over the weekend of March 23 – 25, 2018.

IBERIABANK Corporation operates as the bank holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities. IBERIABANK Corporation was founded in 1887 and is headquartered in Lafayette, Louisiana.

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