Banking: TARP - U.S. Department of the Treasury completes investment in IBERIABANK

IBERIABANK Corporation (Nasdaq: IBKC), the holding company of the 121-year-old IBERIABANK and Pulaski Bank and Trust Company, announced that today it sold to the United States Department of the Treasury shares of the Company's preferred stock for $90.0 million and a 10-year warrant to purchase up to 276,980 shares of the Company's common stock at an exercise price of $48.74 per share, for an aggregate purchase price of $13.5 million.

The preferred stock and warrant were issued in association with the Capital Purchase Program under the Treasury Department's Troubled Asset Relief Program (commonly referred to as "TARP").

Source: IBERIABANK

Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits
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