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IBKC Iberiabank

IBERIABANK Corporation, a Louisiana corporation, is a financial holding company headquartered in Lafayette, Louisiana. We have 321 combined locations including 191 bank branch offices and three loan production offices, in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York, 28 title insurance offices in Arkansas, Tennessee and Louisiana, and mortgage representatives in 84 locations in 12 states. We also have 14 wealth management locations in five states and one IBERIA Capital Partners, LLC office in Louisiana. As of December 31, 2019, we had total consolidated assets of $31.7 billion, total deposits of $25.2 billion and shareholders’ equity of $4.3 billion. Our principal executive office is located at 200 West Congress Street, Lafayette, Louisiana, and our telephone number at that office is (337) 521-4003. Our website is located at www.iberiabank.com.

Company profile

Ticker
IBKC, IBKCO, IBKCN, IBKCP
Exchange
CEO
Daryl G. Byrd
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Isb Financial Corp
SEC CIK
IRS number
721280718

IBKC stock data

(
)

Investment data

Data from SEC filings
Top 50 of 168 long holdings
End of quarter 29 Jun 20
Value
 
#Shares
 
$114.76M 819.21K
$57.6M 688.44K
$44.55M 303.86K
$27.58M 321K
$24.12M 66.12K
$21.93M 107.76K
$20.94M 125.1K
$18.01M 152.05K
$16.37M 11.57K
$14.4M 5.22K
$14.22M 118.96K
$13.12M 139.52K
$12.21M 28.05K
$11.96M 216.86K
$11.59M 46.28K
$11.56M 82.2K
$11.23M 240.69K
$10.41M 134.57K
$9.97M 27.52K
$8.97M 47.86K
$8.95M 200.13K
$8.92M 99.96K
$8.57M 191.71K
$8.52M 168.41K
$8.44M 23.12K
$8.38M 75.41K
$8.37M 27.14K
$8.29M 74.31K
$7.64M 134.52K
$7.58M 82.88K
$7.45M 145.74K
$7.4M 47.43K
$7.28M 428.7K
$6.87M 28.61K
$6.76M 97.83K
$6.72M 202.28K
$6.72M 112.23K
$6.38M 46.58K
$6.37M 53.3K
$6.21M 36.59K
$6.18M 23.9K
$5.91M 19.5K
$5.91M 10.86K
$5.83M 41.83K
$5.66M 12.44K
$5.57M 16.89K
$5.37M 28.47K
$5.34M 136.87K
$5.2M 35.95K
$5.03M 136.64K
Holdings list only includes long positions. Only includes long positions.

Calendar

8 May 20
13 Jun 21
31 Dec 21
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 20 Robert Bruce Worley JR Common Stock Other Dispose J No No 0 23,010 0 0
1 Jul 20 Robert Bruce Worley JR Common Stock Grant Aquire A No No 0 3,158 0 23,010
1 Jul 20 Robert Bruce Worley JR Common Stock Payment of exercise Dispose F No No 43.08 2,823 121.61K 19,852
1 Jul 20 Young Nicolas Common Stock Other Dispose J Yes No 0 226.248 0 0
1 Jul 20 Young Nicolas Common Stock Other Dispose J No No 0 14,853 0 0
1 Jul 20 Young Nicolas Common Stock Grant Aquire A No No 0 3,277 0 14,853
1 Jul 20 Young Nicolas Common Stock Payment of exercise Dispose F No No 43.08 3,031 130.58K 11,576
1 Jul 20 Sylvain Monica R. Common Stock Other Dispose J No No 0 2,888 0 0
1 Jul 20 Sylvain Monica R. Common Stock Sale back to company Dispose D No No 43.08 416.693 17.95K 2,888
1 Jul 20 Sylvain Monica R. Common Stock Option exercise Aquire M No No 0 416.693 0 3,305

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

0.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1 0 NEW
Opened positions 1 0 NEW
Closed positions 0 229 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 998K 0 NEW
Total shares 13.34K 0 NEW
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Cornercap Investment Counsel 13.34K $998K NEW
IFP Advisors 0 $0
Largest transactions
Shares Bought/sold Change
Cornercap Investment Counsel 13.34K +13.34K NEW
IFP Advisors 0 0

Financial report summary

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Risks
  • Challenging economic conditions or volatility in the financial markets could have a material adverse impact on our business, leading to diminished financial results and position.
  • The geographic concentration of our markets makes our business highly susceptible to local economic conditions. Adverse economic factors affecting particular geographies or industries, especially the southeastern United States, could have a negative effect on our customers and their ability to make payments to us.
  • The Government’s responses to economic conditions may adversely affect our financial performance.
  • Changes in interest rates and other factors beyond our control may adversely affect our earnings and financial condition, and we may incur losses if we are unable to successfully manage interest rate risk.
  • Certain instruments issued by us, including our outstanding Series B, Series C and Series D preferred stock, have floating rate terms based on LIBOR.
  • If we or our subsidiaries were unable to borrow funds through access to capital markets, we may not be able to meet the cash flow requirements of our depositors and borrowers, or the operating cash needs to fund corporate expansion and other corporate activities.
  • Deposit run-off or a change in deposit mix could increase our funding costs.
  • Market perceptions of our credit risk could impair our liquidity, cash flows, financial condition and operating results.
  • Our business is highly susceptible to credit risk.
  • Our allowance for credit losses may not be sufficient to cover actual credit losses, which could adversely affect our earnings. Events unforeseen by us could result in higher loan losses impacting our results of operations.
  • The adoption of the new accounting standard for credit losses may result in increases to the Company's allowance for credit losses and increased volatility in net income and capital.
  • We earn a significant portion of our non-interest revenue through sales of residential mortgages in the secondary market. We are exposed to counterparty credit, market, repurchase and other risks associated with these activities.
  • Declines in the value of certain investment securities could require write-downs, which would reduce our earnings.
  • Changes in government regulations and legislation could limit our future performance and growth.
  • We have become subject to more stringent regulatory capital requirements, which may limit our operations and potential growth or adversely affect our ability to pay dividends or to repurchase shares.
  • We are required to act as a source of financial and managerial strength for our bank in times of stress.
  • Non-compliance with the USA PATRIOT Act, the Bank Secrecy Act or other laws and regulations could result in fines or sanctions against us.
  • Possible future increases in FDIC deposit insurance premiums would adversely affect our earnings.
  • We may be adversely affected by recent changes in U.S. tax laws.
  • We are exposed to intangible asset risk, which could negatively impact our financial results.
  • The required accounting treatment of troubled loans we acquired through acquisitions could result in higher net interest margins and interest income in current periods and lower net interest margins and interest income in future periods.
  • A failure in or an attack on our operational systems or infrastructure, or those of third parties, could impair our liquidity, disrupt our business, result in the unauthorized disclosure of confidential information, damage our reputation and cause financial losses.
  • The loss of certain key personnel could negatively affect our operations.
  • Catastrophic events could negatively affect our local economies or disrupt our operations, which would have an adverse effect on our business or results of operations.
  • We may be subject to increased litigation which could result in legal liability and damage to our reputation.
  • The success of our financial institution acquisitions will depend on a number of uncertain factors.
  • Our ability to achieve and maintain expense reduction and earnings enhancement initiatives may be adversely affected by external factors not within our control.
  • Our success depends on our ability to respond to the threats and opportunities of fintech innovation.
  • Reputational risk and social factors may impact our results.
  • We are a holding company and depend on our subsidiaries for dividends, distributions and other payments.
  • Although we have paid cash dividends on shares of our common stock in the past, we may not pay cash dividends on shares of our common stock in the future.
  • Our common stock and our preferred stock are subordinate to our existing and future indebtedness.
  • Our common stock is subordinate to our existing and future preferred stock.
  • We may issue debt and/or equity securities, or securities convertible into equity securities, any of which may be senior to our existing preferred and common stock as to distributions and in liquidation, and such an issuance could negatively affect the value of our common and preferred stock.
  • The trading history of our common stock is characterized by modest trading volume.
  • The market price of our securities can be volatile.
  • Because the market price of First Horizon common stock may fluctuate, holders of IBKC common stock cannot be certain of the market value of the merger consideration they will receive.
  • The market price of First Horizon common stock after the merger may be affected by factors different from those affecting the shares of IBKC common stock or First Horizon common stock currently.
  • Combining First Horizon and IBKC may be more difficult, costly or time consuming than expected and IBKC may fail to realize the anticipated benefits of the merger.
  • The combined company may be unable to retain First Horizon and/or IBKC personnel successfully after the merger is completed.
  • Regulatory approvals may not be received, may take longer than expected or may impose conditions that are not presently anticipated or that could have an adverse effect on the combined company following the merger.
  • Certain of IBKC’s directors and executive officers may have interests in the merger that may differ from the interests of holders of IBKC common stock.
  • The merger agreement may be terminated in accordance with its terms, and the merger may not be completed.
  • Failure to complete the merger could negatively impact IBKC.
  • IBKC will be subject to business uncertainties and contractual restrictions while the merger is pending.
  • The merger agreement contains provisions that could discourage a potential competing acquirer that might be willing to pay more to acquire or merge with IBKC.
  • The shares of First Horizon common stock to be received by holders of IBKC common stock as a result of the merger will have different rights from the shares of IBKC common stock.
  • IBKC will incur transaction and integration costs in connection with the merger.
  • In connection with the merger, First Horizon will assume IBKC’s outstanding debt obligations and preferred stock, and the combined company’s level of indebtedness following the completion of the merger could adversely affect the combined company’s ability to raise additional capital and to meet its obligations under its existing indebtedness.
  • General market conditions and unpredictable factors, including conditions and factors different from those affecting IBKC preferred stock and IBKC depositary shares currently, could adversely affect market prices for rollover First Horizon preferred stock and rollover First Horizon depositary shares once the rollover First Horizon preferred stock is issued
  • Holders of IBKC common stock will have a reduced ownership and voting interest in the combined company after the merger and will exercise less influence over management.
  • Holders of IBKC common stock will not have dissenters’ rights or appraisal rights in the merger.
  • Shareholder litigation could prevent or delay the completion of the merger or otherwise negatively impact the business and operations of IBKC.
Management Discussion
  • The Company reported net income available to common shareholders of $32.8 million and $96.5 million for the three months ended March 31, 2020 and 2019, respectively. EPS on a diluted basis was $0.62 for the first quarter of 2020 and $1.75 for the same period of 2019.
  • Net interest income is the difference between interest realized on earning assets and interest accrued on interest-bearing liabilities and is also the largest driver of earnings. As such, it is subject to constant scrutiny by management. The rate of return and relative risk associated with earning assets are weighed to determine the appropriateness and mix of earning assets. Additionally, the need for lower cost funding sources is weighed against relationships with clients and future growth opportunities.
  • Information is based on average daily balances during the indicated periods. Investment security market value adjustments and trade-date accounting adjustments are not considered to be earning assets and, as such, the net effect of these adjustments is included in non-earning assets.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Bad
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