LAFAYETTE, La. (AP) - Iberiabank Corp., a rapidly expanding regional bank company, posted a huge gain in fourth-quarter profit as it took over the assets of 2 failed banks in Florida.
For the October-through-December period, Lafayette-based Iberiabank earned $106.2 million, or $5.23 per share, compared with year-ago earnings in the fourth quarter of $7.7 million, or 57 cents per share.
The latest quarter included a 1-time $170 million pretax gain for the Florida acquisitions and a $7.9 million pretax loss associated with acquisition costs.
Analysts polled by Thomson Reuters, on average, had forecast per-share earnings of $1.82 for the latest quarter. Those forecasts typically do not include 1-time items.