Last $66.22 USD
Change Today +0.97 / 1.49%
Volume 186.8K
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As of 8:10 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

iberiabank corp (IBKC) Key Developments

IberiaBank Corp. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Charge-Offs for the Second Quarter of 2014; Provides Earnings Guidance for the Year 2014

IberiaBank Corp. announced consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, net interest income was $108,979,000 against $96,482,000 for the same period a year ago. Income before income taxes was $24,819,000 against $19,803,000 for the same period a year ago. Earnings available to diluted shareholders were $18,250,000 or $0.60 diluted earnings per share against $15,297,000 or $0.53 diluted earnings per share a year ago. Net income was $18,548,000 against $15,590,000 a year ago. Book value per common share was $53.86 as on June 30, 2014 against $50.65 at June 30, 2013. Tangible book value per common share was $37.41 as on June 30, 2014 against $36.30 as on June 30, 2013. Return on average assets was 0.53% against 0.49% for the same period a year ago. Return on average common equity was 4.56% against 4.09% for the same period a year ago. Return on average tangible common equity was 6.62% against 5.96% for the same period a year ago. Non-GAAP net interest income was $108,979,000 against $96,482,000 for the same period a year ago. Taxable equivalent non-GAAP revenue was $159,636,000 against $141,852,000 for the same period a year ago. Taxable equivalent non-GAAP operating revenue was $159,627,000 against $141,909,000 for the same period a year ago. Operating return on average tangible common equity (Non-GAAP) was 10.44% against 7.70% for the same period a year ago. Non-GAAP pre-tax operating earnings were $41,954,000 against $27,185,000 for the same period a year ago. Non-GAAP after-tax operating earnings were $29,754,000 against $20,388,000 for the same period a year ago. Non-GAAP operating earnings per share were $0.69 against $0.96 for the same period a year ago. Non-GAAP return on average assets was 0.85%. Non-GAAP return on average common equity was 7.31%. Non-GAAP return on average tangible common equity was 10.44%. For the six months, interest income was $233,451,000 against $214,593,000 for the same period a year ago. Income before income taxes was $55,377,000 against $15,644,000 for the same period a year ago. Net income was $40,943,000 or $1.35 diluted earnings per share against $16,307,000 or $0.55 diluted earnings per share a year ago. Diluted earnings available to common shareholders were $40,244,000 against $15,994,000 a year ago. Pre-tax operating income non-GAAP was $72,528,000 against $55,415,000 a year ago. After-tax operating income non-GAAP was $51,630,000 against $42,159,000 a year ago. Non-GAAP operating earning per share was 1.70 compared to $1.42 for the same period a year ago. For the quarter, the company reported net charge-offs of $857,000, or an annualized 0.03% of average loans, and excluding acquired assets, net charge-offs totaled $759,000, or an annualized 0.04% of average loans. Based on current forecasts, the company projected full year operating EPS to be in the range of $3.65 to $3.70 per share, or a 16% to 18% improvement for the full year of 2014 compared to last year. Based on interest rate risk modeling and other factors, management reiterated its expectation of the net interest margin in 2014 to remain in the range of 3.45% to 3.50%.

IBERIABANK Corporation Names Daryl S. Kirkham as Market President for the Dallas, Texas Market

IBERIABANK Corporation announced completion of the acquisition of First Private Holdings Inc. and its subsidiary bank, First Private Bank, both of which were based in Dallas, Texas. The acquisition, including the merger of First Private Bank with and into IBERIABANK, was completed on June 30, 2014. Daryl S. Kirkham, former President and CEO of First Private, was named Market President for the Dallas, Texas, market. In addition, former members of First Private's Board of Directors will comprise IBERIABANK's Dallas Advisory Board.

IberiaBank Corp. to Report Q2, 2014 Results on Jul 23, 2014

IberiaBank Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 23, 2014

IberiaBank Corp., Q2 2014 Earnings Call, Jul 24, 2014

IberiaBank Corp., Q2 2014 Earnings Call, Jul 24, 2014

IBERIABANK Corporation Declares Quarterly Cash Dividend, Payable on July 25, 2014

The board of directors of IBERIABANK Corporation announced the declaration of a quarterly cash dividend of $0.34 per share. The dividend is payable on July 25, 2014, to shareholders of record as of June 30, 2014.

 

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