IBERIABANK CORPORATION (NASDAQ:IBKC) Files An 8-K Other EventsItem 8.01
Results of Operations and Financial Condition
On November 5, 2018, the Company’s Board of Directors announced the completion of its previously announced share repurchase plan of approximately 2% of common shares outstanding. The Company also announced the authorization of a new repurchase plan of up to 2,765,000 shares of the Company's outstanding common stock. The repurchase authorization equates to approximately 5% of the total shares outstanding. Stock repurchases under the new program will be made from time to time, on the open market or in privately negotiated transactions, at the discretion of the management of the Company and in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. The timing of these repurchases will depend on market conditions and other requirements. The Company currently anticipates the share repurchase program will extend over a two-year time frame, or earlier if the shares have been repurchased. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time.
A copy of the press release announcing the completion and commencement of common stock repurchase programs is attached as Exhibit 99.1 to this report.
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Item 8.01 |
Financial Statements and Exhibits |
Exhibit 99.1 – Press Release announcing completion and commencement of common stock repurchase programs dated November 5, 2018, issued by the Registrant.
IBERIABANK CORP ExhibitEX-99.1 2 repurchaseplan2018document.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 FOR IMMEDIATE RELEASENovember 5,…To view the full exhibit click here
About IBERIABANK CORPORATION (NASDAQ:IBKC)
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc., which provides wealth management and trust services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE L.L.C., which invests in purchased tax credits. IBERIABANK offers commercial and retail banking products and services to customers throughout locations in over seven states. It operates over 320 combined offices; over 20 title insurance offices; mortgage representatives in over 70 locations; over eight wealth management locations in over five states, and one IBERIA Capital Partners L.L.C. office in Louisiana.
