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Started By
Message
re: Will Iberia Bank merging with First Horizon and moving it's headquarters hurt Lafayette?
Posted on 8/15/21 at 9:36 am to Quatre Pot
Posted on 8/15/21 at 9:36 am to Quatre Pot
quote:
All “small” banks are being either merged into or eaten up by mega banks
Small banks become big banks in a short timeframe.
Look at B1 Bank. Started as a business focused bank then started expanding through acquisitions. They recently purchased Pedestal Bank which was Coastal Commerce Bank in Houma and a few other smaller banks in southwest Louisiana. Their name changed 3 times in about 2 years.
The key is to find a local bank, but even small local banks are looking for new customers and expanding.
For example, South Louisiana Bank started in Houma in the 1980’s and pretty much stuck to the Houma market. In the last few years, they opened a Thibodaux branch and now they have a branch in Baton Rouge.
Now Morgan City based MC Bank has an office in Houma for business development as there are no tellers.
While small banks are taking a risk by growth, large banks are contracting and closing locations and forcing you to use their ATMs or making a phone call to a call center. Hopefully, the call center is in the states and you are not talking to someone in India for some fraudulent charges on your debit card.
Saying that, but that is where smaller banks are at a disadvantage where some cannot provide this level of service 24 hours a day 7 days a week.
1
Posted on 8/15/21 at 9:47 am to stout
quote:
Seems like Louisiana-based banks are all dissaperaing.
Enter Red River Bank based out of Alexandria. We love this bank. Has all the technology and focuses on being for LA and only LA. Locations popping up in all major cities sans Nola.
Posted on 8/15/21 at 10:07 am to G Vice
I don’t do much in person but goodness it’s a pita.
We went with a local bank and so far were happy. Getting everything cleared out and transferred over auto payment wise has been a pain
ETA justbrealized who I was responding to. Hope you’re good! And your mom too!!.
We went with a local bank and so far were happy. Getting everything cleared out and transferred over auto payment wise has been a pain
ETA justbrealized who I was responding to. Hope you’re good! And your mom too!!.
This post was edited on 8/15/21 at 10:08 am
Posted on 8/15/21 at 10:10 am to Tarps99
B1 is who my husband used for his farm accounts. Third name change in 24 years and they seem to be no up to par with some things ... the PPP stuff was a fiasco. Husband dealt with it so I can’t say what the issue was but he was less than impressed with their help.
This post was edited on 8/15/21 at 10:11 am
Posted on 8/15/21 at 10:11 am to tiger91
quote:
tiger91
I saw it was your birthday a few weeks ago. I sent an email but I do not know whether you still have the "Irun" account.
I hope you enjoyed your day!
Posted on 8/15/21 at 10:19 am to tiger91
I hate Whitney bank with a passion. I had a business account at mid south, then had to go change it after Whitney bought them.
Posted on 8/15/21 at 10:23 am to stout
quote:
Yea but Iberia was well beyond just Louisiana and was just as big if not bigger than First Horizon.
First Horizon had more than double the assets that Iberia had.
Posted on 8/15/21 at 10:25 am to IonaTiger
Awe thanks Iona! I do indeed but don’t really check .. will now!
Hope you’re well. We’re just trying to get through life like everyone else at this point.
Hope you’re well. We’re just trying to get through life like everyone else at this point.
Posted on 8/15/21 at 10:31 am to tiger91
quote:
Well I'm dumping Iberia.
Same. And my account dates back to the old Iberia Savings and Loan days. They have just become too difficult to deal with. I had a great experience with St. Martin Bank but they sold out a few years ago too.
Posted on 8/15/21 at 10:35 am to stout
(no message)
This post was edited on 8/15/21 at 10:36 am
Posted on 8/15/21 at 10:46 am to stout
Iberia Bank was this close to purchasing Whitney before Hancock swooped in.
From what I remember, the sticking point was that Iberia didn't want to keep the Whitney name. Hancock was willing to do that.
I remember that after Hancock purchased Whitney, Iberia's advertising was "we're the largest bank with a home office in Louisiana" or something like that.
Ironic that their home office will now be moved to Memphis.
From what I remember, the sticking point was that Iberia didn't want to keep the Whitney name. Hancock was willing to do that.
I remember that after Hancock purchased Whitney, Iberia's advertising was "we're the largest bank with a home office in Louisiana" or something like that.
Ironic that their home office will now be moved to Memphis.
This post was edited on 8/15/21 at 10:48 am
Posted on 8/15/21 at 11:22 am to stout
quote:
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.
Closed my branch here in Lafayette. May have given me the reason to switch to Chase. No longer a local bank, closed my branch, closest requires a hike down Ambassador, which I hate. Local banking is basically dead.
Posted on 8/15/21 at 11:44 am to stout
Don't know why Iberia never opened any branches here in MS. They have a couple in Mobile, AL where I work. I opened an account with Hancock and they are closing & consolidating branches here.
Posted on 8/15/21 at 12:09 pm to stout
Most of the smaller, “community” banks in Louisiana seem to be set up with the full intention of being bought out within 5-10 years. Big banks seem to buy the smaller guys just to get market share and increase their footprint. But we only have Chase, Cap1, Wells from that side. I sort of hoped a Citibank or BofA would look to set up in LA but that doesn’t seem like it’s in the cards.
Sooooo who the heck are the “better” options at this time? I’m looking to make a move as well.
Sooooo who the heck are the “better” options at this time? I’m looking to make a move as well.
Posted on 8/15/21 at 12:46 pm to belowmebama
Hot rumor is MC Bank is next in line to be bought out.
Posted on 8/15/21 at 12:52 pm to stout
It was a merger.of equals with First Horizon having one more board member and a billion more in assets roughly 2 percent more if I remember correctly.
FHN can suck a big one.
FHN can suck a big one.
Posted on 8/15/21 at 1:18 pm to Quatre Pot
“Big Bad Banks” by former MidSouth owner & CEO, Rusty Cloutier, is a really good read. Took me only two days to blow through it, and some very interesting insight from the guy who was chairman at one time of the Small Bankers or Independent Bankers Association.
We always banked with MidSouth when living in Louisiana. When we moved to Texas a while back, switched to Iberia since they have locations in our current area as well. Always been very happy with them. Very personable service inside the buildings.
We always banked with MidSouth when living in Louisiana. When we moved to Texas a while back, switched to Iberia since they have locations in our current area as well. Always been very happy with them. Very personable service inside the buildings.
Posted on 8/15/21 at 1:22 pm to tiger91
quote:
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 always liked them. Had an account there since before Katrina.
But when banks get too big they go to crap. If that happens I'm out.
Posted on 8/15/21 at 3:46 pm to Big Bill
quote:
Hot rumor is MC Bank is next in line to be bought out.
Would not surprise me one bit.
All that oilfield money must be running low in the Tri-Cities Area with all the acquisitions and mergers moving businesses out of the Morgan City area.
Posted on 8/15/21 at 3:50 pm to stout
quote:
Iberia bought out Cameron State Bank a while back and now Iberia will be no more. Seems like Louisiana-based banks are all dissaperaing.
Banking trends have been towards consolidation for a while now
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