Beth Ardoin, communications director for the Lafayette-based bank, says the move is part of the bank’s effort to spread critical operations over several cities and geographic areas — the bank boasts branches in six states and mortgage reps in 12 states — in order to avoid service interruptions amid natural disasters or other emergencies.
“Following hurricanes Katrina and Rita, banks with centralized operation sites, particularly in the South, were unable to service their clients,” Ardoin says. “Having multiple operation sites, which we had at that time, allows us to provide continuous support to our clients across our 12-state footprint. For example, when one area faces severe weather issues, the bank continues to operate without a hitch.”
The expansion of IberiaBank’s Birmingham operations is also attributed in part to the growth that IberiaBank has experienced in that market since it purchased Birmingham-based Century Bank in a 2009 failed bank acquisition, Ardoin says. IberiaBank’s website lists six branches in Birmingham, and Ardoin says the bank is opening another branch there this year.
The 15 New Iberia employees have the option of transferring to Birmingham, Ardoin says, or applying for another open position within the company.
“Birmingham does offer a great deal of banking talent, since several large banks have been headquartered there over a long period of time,” Ardoin says. “However, we also have ‘back-office’ personnel in other locations, such as other cities across Louisiana, Arkansas and Florida. Again, our primary goal is to provide our clients uninterrupted banking services at all times and having key personnel located in various geographic locations helps us achieve that objective.”
It’s highly likely that the largest city in Alabama is indeed home to an experienced pool of banking talent, as Birmingham served as the one-time headquarters of four big banks — SouthTrust, AmSouth, Compass and Regions — according to the Higley 1000, a website that ranks and profiles the most affluent neighborhoods in the U.S. But when the housing bubble and subsequent recession struck banks across the globe, three of the four large Birmingham banks merged with other financial institutions, Higley reports, which leaves only one big bank that’s based in Birmingham: Regions, the 10th largest in the country.
The parent of Investar Bank says its second-quarter earnings fell to $1.1 million or 26 cents a share from $1.7 million of 44 cents a share in the same period a year ago.
1,554 rigs were exploring for oil and 315 for gas. Two were listed as miscellaneous. A year ago there were 1,770 active rigs.
Most personal auto insurance policies exclude coverage when people charge money to drive others in their personal vehicles.
Louisiana's 21 casinos took in $203.5 million statewide in June, edging up one-half of a percentage point from a year earlier.
Business First Bank has announced plans for a Baton Rouge market expansion through a merger deal with American Gateway Financial Corp.
Mellow Mushroom Pizza Bakers opens on Johnston.
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The Heymann Center was transformed into a culinary adventure in mid-June for the EatLafayette kick-off event, A Taste of Lafayette, and for the third consecutive year, a sellout crowd filled the Cajundome Convention Center June 19 to hear LEDA chief Gregg Gothreaux’s State of the Economy report.
A look at recent hirings, promotions and other announcements from Acadiana's business community.
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The company currently has 10 branches throughout Louisiana, including an Ambassador Caffery location which opened last year.
Lawmakers have added $15 million to the attorney general's budget to pay for Louisiana's ongoing legal case against BP for damages caused by the 2010 Gulf oil spill.
The state's jobless rate rose to 5 percent in June from 4.9 percent in May. Louisiana's unemployment rate was 6.4 percent in June 2013.
Long-established private club opening special events venue in failed women’s store at Kaliste Saloom Road and Camellia Boulevard.