Iberiabank to raise $300 million through public stock sale

Iberiabank to raise $300 million

LAFAYETTE, La — Regional banker Iberiabank Corp., which has been acquiring the assets of failed banks, said Tuesday that it will raise $300 million through a public stock sale.

The Lafayette-based company said it plans to use the proceeds for potential acquisitions assisted by the Federal Deposit Insurance Corp., general corporate purposes and investments in its subsidiaries.

Last November, after the FDIC shuttered two Florida banks, Iberiabank assumed $3.1 billion in assets, $2.5 billion in loans and $2.5 billion in deposits, along with 34 banking offices.

Iberiabank now has 136 banking offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.