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Started By
Message
re: Iberia Bank Buys Teche Federal
Posted on 1/13/14 at 3:51 pm to whodatigahbait
Posted on 1/13/14 at 3:51 pm to whodatigahbait
quote:
and tried to buy whitney but wiffed.
I heard something a little different. Whitney turned IB down because IB had accepted TARP funds, and merging would affect golden parachutes for the whitney folks. Instead, whitney went with Hancock (who had bid less than IB).
Supposedly.
5
Posted on 1/13/14 at 3:56 pm to Smalls
quote:
I heard something a little different. Whitney turned IB down because IB had accepted TARP funds, and merging would affect golden parachutes for the whitney folks. Instead, whitney went with Hancock (who had bid less than IB).
This sounds about right.
Posted on 1/13/14 at 4:55 pm to Smalls
quote:
quote:and tried to buy whitney but wiffed. I heard something a little different. Whitney turned IB down because IB had accepted TARP funds, and merging would affect golden parachutes for the whitney folks. Instead, whitney went with Hancock (who had bid less than IB). Supposedly.
and what part of that isn't a whiff?
This post was edited on 1/13/14 at 4:57 pm
Posted on 1/13/14 at 4:55 pm to Smalls
nm
This post was edited on 1/13/14 at 4:57 pm
Posted on 1/13/14 at 5:00 pm to Smalls
quote:
I heard something a little different. Whitney turned IB down because IB had accepted TARP funds, and merging would affect golden parachutes for the whitney folks. Instead, whitney went with Hancock (who had bid less than IB).
Supposedly.
This. And Hancock has screwed the pooch.
Federal regulators are crawling all over their operation. The little bank from Gulfport does not know how to operate the Witney's portfolio up to federal regulator's expectations (industry practice).
Posted on 1/13/14 at 5:42 pm to Smalls
quote:
I heard something a little different. Whitney turned IB down because IB had accepted TARP funds, and merging would affect golden parachutes for the whitney folks. Instead, whitney went with Hancock (who had bid less than IB).
And because of that, Iberia has committed themselves to competing directly with Hancock in every market that they're in.
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