Lafayette-based IberiaBank Corp. today announced that has commenced an underwritten public offering of $300 million of its common stock, according to an article on Yahoo Finance. The 122-year-old bank intends the use proceeds generated from the stock sale “for general corporate purposes, including to fund possible future acquisitions of other financial services businesses (which may include FDIC-assisted transactions), working capital needs and investments in subsidiaries to support continued growth.”
IberiaBank’s rapid growth over the last few years and its relatively stunning success in acquiring market share are detailed in The Independent’s Nov. 25, 2009 cover story, “A Defining Moment,” as well as the Jan. 28 INDsider blog, “IberiaBank’s record year.”
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