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Will Iberia Bank merging with First Horizon and moving it's headquarters hurt Lafayette?
Posted on 8/15/21 at 8:29 am
Posted on 8/15/21 at 8:29 am
quote:
IberiaBank Corporation, stylized as IBERIABANK, is an American financial holding company headquartered in Lafayette, Louisiana, and is the largest bank based in the state.[4] Founded in 1887,[5] it now has 325 combined locations, including 190 bank branches and three loan production offices in 12 states primarily throughout the South. The company has 16 wealth management locations in five states, and one Iberia Capital Partners office in New Orleans.[6]
quote:
The bank opened its doors on March 12, 1887 as a savings and loan association under the name Iberia Building Association
quote:
Net income Increase US$ 370.25 million (2018)[2]
Total assets Increase US$ 30.8 billion (2018)
The new HQ from the merger will remain in Memphis
quote:
On July 2, 2020 the merger with IberiaBank of Lafayette, Louisiana was completed. The combined bank has $79 billion in assets and $58 billion in loans. The bank will continue to use the First Horizon name and have its headquarters in Memphis, Tennessee
Iberia bought out Cameron State Bank a while back and now Iberia will be no more. Seems like Louisiana-based banks are all dissaperaing.
9
Posted on 8/15/21 at 8:35 am to stout
I remember the thread when this was first announced. IIRC, consensus was that this will hurt.
With Iberia moving HQ to Memphis and Whitney moving HQ to MS, there aren't many big, LA banks left. Hell Hancock Whitney also just bought Midsouth.
With Iberia moving HQ to Memphis and Whitney moving HQ to MS, there aren't many big, LA banks left. Hell Hancock Whitney also just bought Midsouth.
Posted on 8/15/21 at 8:40 am to SlowFlowPro
The big eat rhe little and Louisiana is very small potatoes
Posted on 8/15/21 at 8:44 am to SlowFlowPro
Whitney’s leadership offices in New Orleans although technical HQ in Gulfport. Somewhat same for Iberia as I believe Daryl Byrd the CEO lived in New Orleans. First Horizon just moved the New Orleans market president to Memphis. He was being groomed to be Iberia CEO. Looks like First Horizon is giving him a shot for that role as well
Posted on 8/15/21 at 8:48 am to SlowFlowPro
City Savings Bank was growing then they get bought out after being around for 100 years. Seems like all Louisiana banks are disappearing no matter how big or small they are.
Posted on 8/15/21 at 8:52 am to jmarto1
quote:
The big eat rhe little and Louisiana is very small potatoes
Yea but Iberia was well beyond just Louisiana and was just as big if not bigger than First Horizon.
Posted on 8/15/21 at 9:01 am to stout
Iberia bought Omni Bank about a decade ago, which was another New Orleans based bank.
Posted on 8/15/21 at 9:03 am to stout
Well I'm dumping Iberia. Both the location in my town and the location 15 minutes away in the neighboring town closed. I refuse to drive 30 minutes to the nearest location.
I don't need to go in person much but there are times to make a cash deposit or to get to the safety deposit box.
Done with them.
I don't need to go in person much but there are times to make a cash deposit or to get to the safety deposit box.
Done with them.
Posted on 8/15/21 at 9:07 am to tiger91
Yea they closed a few branches here in LC. I may be bank shopping too. I like using Louisiana based banks for the relationships if I can. I already bank some with Evangeline. I will move my Iberia stuff there too I guess.
Posted on 8/15/21 at 9:08 am to stout
Jeff Davis is pretty solid
Can't imagine good ole Jennings baws selling out
Can't imagine good ole Jennings baws selling out
Posted on 8/15/21 at 9:10 am to SlowFlowPro
quote:
Can't imagine good ole Jennings baws selling out
I thought the same about DeRidder baws with City Savings.
Posted on 8/15/21 at 9:12 am to stout
RIP Hibernia Bank, gone but never forgotten
Posted on 8/15/21 at 9:12 am to SlowFlowPro
They won’t have a choice when that time comes and eventually it will. Iberia hasn’t been active in the La commercial sector in 5 years. Their commercial focus moved to Florida years ago(buddy was La commercial).
Posted on 8/15/21 at 9:12 am to SlowFlowPro
JD Bank bought up some other banks in the area a few years ago, and I see locations in Lafayette now.
Posted on 8/15/21 at 9:13 am to stout
Dodd Frank is causing this. All “small” banks are being either merged into or eaten up by mega banks
Posted on 8/15/21 at 9:15 am to stout
I'm joking. I hope they get bought out for a fat, over-premium amount b/c my mom owns an ungodly amount of their stock.
I bank with (Hancock) Whitney. I got the account when I moved to BR for college so I had a bank in LC and BR. I don't do much other than personal banking stuff, though.
I bank with (Hancock) Whitney. I got the account when I moved to BR for college so I had a bank in LC and BR. I don't do much other than personal banking stuff, though.
Posted on 8/15/21 at 9:17 am to tiger91
One of my children has since moved out of state to the northeast. He’s always had a Chase account. He does very little in-person banking, but when he does, the nearest location is about an hour away.
Kind of a PITA.
ETA: whereas Chase is everywhere here
Kind of a PITA.
ETA: whereas Chase is everywhere here
This post was edited on 8/15/21 at 9:19 am
Posted on 8/15/21 at 9:21 am to Quatre Pot
Yeah it isn’t an LA thing, all banks are consolidating. There’s a lot less than there were pre financial crisis
Posted on 8/15/21 at 9:22 am to G Vice
I have a few Chase business accounts since they are everywhere but they are only worth dealing with on the Private Client stuff.
Chase is too tight on speculative loans like for flipping or spec home building if they even do it all anymore.
Chase is too tight on speculative loans like for flipping or spec home building if they even do it all anymore.
Posted on 8/15/21 at 9:28 am to stout
Like dealing with the DMV of banking.
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