May 18, 2018 / 5:07 PM / in a month

BRIEF-Iberiabank Corp Announces Branch Closures And Consolidations

May 18 (Reuters) - IBERIABANK Corp:

* IBERIABANK CORPORATION ANNOUNCES BRANCH CLOSURES AND CONSOLIDATIONS

* IBERIABANK CORP - PLANS TO CLOSE OR CONSOLIDATE 22 BRANCH LOCATIONS DURING SECOND AND THIRD QUARTERS OF 2018.

* IBERIABANK CORP - EXPECTS TO REALIZE AN INCREMENTAL $2 MILLION REDUCTION IN NON-INTEREST EXPENSE IN Q4 OF 2018

* IBERIABANK CORP - TOTAL EXPENSES ASSOCIATED WITH BRANCH CLOSURES ARE ANTICIPATED TO BE ABOUT $12 MILLION IN NON-CORE CHARGES

* IBERIABANK - CLOSURES ANTICIPATED TO PROVIDE IMPROVEMENT TO ANNUAL RUN-RATE OPERATING EXPENSE BY OVER $8 MILLION ON PRE-TAX BASIS ONCE SOLD/CLOSED

* IBERIABANK - TOTAL COST OF BRANCH CONSOLIDATIONS EXPECTED TO BE EARNED BACK THROUGH NON-INTEREST EXPENSE REDUCTIONS WITHIN 2-YEAR PERIOD Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below