Banking woes seen by La. company as opportunity

Associated Press - November 19, 2009 11:35 AM ET

NEW ORLEANS (AP) - A Louisiana banking company is using the recent rash of U.S. bank failures, the worst in two decades, as an opportunity to expand its turf well beyond the state line.

Two Florida banks recently acquired by Iberiabank Corp. may be only the start for the Lafayette-based company.

And analysts say the takeovers will likely be emulated by other mid-size companies in light of probable failures of smaller banks and moves by megabanks to reduce their loan exposure in states with real estate problems.

The takeovers of Orion Bank and Century Bank, both in Florida, doubled Iberiabank's asset base overnight.