Iberia Bank Corp. said Monday it is acquiring Atlanta-based Georgia Commerce Bancshares in a $195 million deal that will bring the Louisiana bank into the Atlanta market.
Iberia, headquartered in Lafayette, La., expects to complete the all-stock acquisition of the closely-held institution by mid-2015, bringing it to $18.4 billion in assets.
Iberia said the acquisition of Georgia Commerce, with $1 billion in assets, 142 employees and nine offices in metro Atlanta, will add one of the fastest-growing markets bordering its six-state territory, giving it a presence in the five largest metro areas in the southeast. The bank has 280 branches and other offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.
Iberia also has recently acquired or announced deals to buy banks in Dallas, Texas, and Tampa, Orlando, and Jacksonville, Fla.
About the Author
