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IberiaBank eyes Florida market

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  • | 1:38 p.m. August 8, 2011
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It's been nearly two years since Louisiana-based IberiaBank made a spectacular entrance on the Gulf Coast banking scene by acquiring two failed institutions, Orion Bank in Naples and Century Bank in Sarasota.

Since then, the bank's been quietly digesting those acquisitions, with the exception of the Florida Trust Company assets it acquired from Naples-based Bank of Florida Corp. earlier this year.

In a conference call to discuss the bank's most recent earnings, IberiaBank executives told investors they continue to seek acquisitions in Florida, though they weren't too specific for obvious competitive reasons.

In response to a specific question about this from a banking analyst, Daryl Byrd, president and CEO of IberiaBank, says the bidding for failed banks in Florida has become more aggressive. “We have to kiss a lot of frogs to find the few that we like,” says. Still, he noted, “We're seeing a lot of opportunities across that entire map.”


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