IBERIABANK announces branch closures and consolidations [Seeking Alpha]
IBERIABANK (IBKC)
Last iberiabank earnings: 4/17 07:00 am
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US:NASDAQ Investor Relations:
ir.iberiabank.com
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Source: Seeking Alpha
IBERIABANK announces branch closures and consolidationsIBERIABANK to operate in 296 locations across the Southeast region, following plans to close or consolidate 22 branch locations during the second and third quarters of 2018.The branch closures charges are anticipated to be approx. $12M which is expected to be earned back through non-interest expense reductions within a two-year period.The closures are anticipated to be completed by the end of the 3Q18 and provide an improvement to annual run-rate operating expense by over $8M on a pre-tax basis once sold or closed.The Company expects to realize an incremental $2M reduction in non-interest expense in 4Q18.Source:Press ReleaseIBKCClick to subscribe to real-time analytics on IBKCNow read:DA Davidson downgrades First Financial Bancorp to Neutral »
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