IberiaBank announced it is expanding into Alabama, the fourth state the Lafayette-headquarted bank will now operate in. Currently, IberiaBank has 88 locations in Louisiana, Arkansas and Tennessee. IberiaBank is launching a loan production office in Mobile, Ala. which will become a branch once regulatory approval is obtained. Company officials say plans call for two to five branches in the Mobile region over the next few years. IberiaBank has hired Regions Bank veteran Lawrence “Russ” G. Ford as Executive Vice President for the Mobile region. In a press release issued this morning, IberiaBank President Daryl Byrd says, “We have unique connections to this area, particularly South Alabama. Throughout our company, we believe that having the right people on our team provides a significant competitive advantage.
The expansion comes on the heels of the publicly-traded bank issuing 2.5 million shares of common stock, expected to generate approximately $120 million to go toward funding future acquisitions. In December, the bank also announced it was accepting $90 million in federal bailout money, which may also be used for expansion activity.
Frank’s Casing Crew, now doing business as Frank’s International, will make its final appearance on ABiz’s list of the Top 50 Privately Held Companies in Acadiana this year, and once again it will likely be at the top with more than $1 billion in annual revenues. The 75-year-old company specializing in tubular fabrication and installation services to the oil and gas industry plans to offer shares of its stock to the public for the first time.
The defeat, or rather highjacking of House Bill 420 in the final days of this year's Legislative Session, say Reps. Vincent Pierre and Terry Landry, is the result of the propaganda spread by one unidentified local media outlet and an unnamed former state Representative, but nothing to do with the original legislation's lack of checks, balances or details.
He’s a singer. A songwriter. A piano man. A family man. He’s even got his own Wikipedia entry. He’s David Egan. And he knows ancient secrets about the monolithic stones of Stonehenge that he’s not willing to share.