Iberiabank To Acquire Omnibank

LAFAYETTE, La. (AP) — Lafayette-based Iberiabank Corporation has announced an agreement to acquire Omnibank, based in the New Orleans suburb of Metairie.

Iberiabank said Tuesday said the transaction has been approved by the board of directors of each company and is expected to close in the second quarter of 2011. The agreement calls for shareholders of Omni to receive about a third of a shhare of Iberiabank common stock per share of OMNI common stock.

Also Tuesday, Iberiabank Corp. said it had signed an agreement to purchase certain assets of Florida Trust Company, a wholly-owned subsidiary of the Bank of Florida Corporation. That deal calls for an initial payment of $700,000 and a performance payment of up to $700,000 a year after the transaction is completed.