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Description:
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IBERIABANK Corporation is a bank holding company that operates through its wholly owned, commercial bank subsidiary, IBERIABANK (the Bank). As of December 31, 2005, the Bank operates 44 full-service offices in its market areas, including New Orleans, Baton Rouge, Shreveport, Monroe and the Acadiana region of Louisiana. The Bank also operates seven loan production offices in Mandeville, Morgan City, Houma, Alexandria, Baton Rouge, Prairieville and Shreveport. IBERIABANK provides a variety of financial services to individuals and businesses throughout its service area. Primary deposit products are checking, savings and certificate of deposit accounts and primary lending products are consumer, commercial and mortgage loans. The Bank also offers discount brokerage services through its wholly owned subsidiary, Iberia Financial Services, LLC. On January 31, 2005, the Company acquired American Horizons Bancorp, Inc. (American Horizons). For the six months ended 30 June 2006, IBERIABANK Corporation's interest income increased 19% to $77.4M. Net interest income after loan loss provisions increased 15% to $46.6M. Net income increased 10% to $16.9M. Net interest income reflects an increase in earning asset balances, offset by increased interest expense. Net income was partially offset by an increase in salaries & employee benefits costs and higher occupancy & equipment charges.
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