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re: BancorpSouth and Cadence merger
Posted on 5/3/21 at 11:14 am to ronnie mo
Posted on 5/3/21 at 11:14 am to ronnie mo
quote:
Interesting timing as well given the Iberia/First Tennessee merger last year with a very similar footprint and a number of locations.
The Iberia/First Tenn merger was not about Louisiana at all. In fact, Iberia's Louisiana holdings were a negative in that transaction because of the oil & gas holdings it had on the books. What made Iberia attractive was its North Carolina, South Carolina, Georgia, and more importantly its Florida footprint that it had picked up over the years from the FDIC. First Tenn is going to be significantly cutting back its presence in Louisiana in the years to come.
This post was edited on 5/3/21 at 11:15 am
1
Posted on 5/3/21 at 12:15 pm to MrLSU
quote:
The Iberia/First Tenn merger was not about Louisiana at all. In fact, Iberia's Louisiana holdings were a negative in that transaction because of the oil & gas holdings it had on the books. What made Iberia attractive was its North Carolina, South Carolina, Georgia, and more importantly its Florida footprint that it had picked up over the years from the FDIC. First Tenn is going to be significantly cutting back its presence in Louisiana in the years to come.
Do you think they'll be closing branches here?
The LA banking sector is tiny now. I couldn't even tell you who is the biggest bank based in the state now that Iberia and even Mid South have been bought out, maybe B1 or Home? MS by comparison has four banks with over 150 branches in its footprint HQ'd there.
This post was edited on 5/3/21 at 12:17 pm
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