IBERIABANK CORPORATION (NASDAQ:IBKC) Files An 8-K Regulation FD Disclosure
Item 7.01
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Regulation FD Disclosure
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On April 28, 2017, IBERIABANK Corporation (the Company) disclosed
the following:
the following:
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The Company confirms that it currently projects its net
interest margin for the three months ended June 30, 2017 to increase to approximately 3.60%, which assumes no significant interest recoveries during the second quarter of 2017 and a flat interest rate scenario. |
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The Company currently expects core non-interest expenses for
the three months ended June 30, 2017 to remain flat with core non-interest expenses for the three months ended March 31, 2017. The Company also currently expects its core tangible efficiency ratio (TE) to be below 60% for the three months ended June 30, 2017. |
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The Company estimates that investment security cash flow will
be approximately $50 million per month during the second and third quarters of 2017. The weighted average coupon on these investments is estimated at 2.65%. |
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The Company currently estimates that, in the event its
federal statutory tax rate were to drop from 35% to 20%, the benefit to net income from lower income tax expense would have been $7.7 million for the three months ended March 31, 2017, or approximately $0.16 per diluted common share. Additionally, the Company notes that a decrease in the statutory rate would impact the Company’s usability of its deferred tax asset, which may result in an impairment charge in future periods. This analysis assumes that there are no other underlying adjustments relative to the deductibility of items that the Company currently uses to reduce its effective income tax rate below the federal statutory rate. |
Caution About Forward-Looking Statements
This Current Report on Form 8-K contains “forward-looking
statements,” which may include forecasts of our financial results
and condition, expectations for our operations and businesses, and
our assumptions for those forecasts and expectations. Do not place
undue reliance on forward-looking statements. Due to various
factors, actual results may differ materially from our
forward-looking statements. Factors that could cause our actual
results to differ materially from our forward-looking statements
are described under Managements Discussion and Analysis of
Financial Condition and Results of Operations, Risk Factors and
Regulation and Supervision in the Companys Annual Report on Form
10-K for the fiscal year ended December 31, 2016, and in other
documents subsequently filed by the Company with the Securities and
Exchange Commission, available at the SECs
website,>http://www.sec.gov, and the Companys website,
http://www.iberiabank.com. To the extent that statements in this
Current Report on Form 8-K relate to future plans, objectives,
financial results or performance by the Company, these statements
are deemed to be forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
statements are generally identified by use of words such as may,
believe, expect, anticipate, intend, will, should, plan, estimate,
predict, continue and potential or the negative of these terms or
other comparable terminology.>
statements,” which may include forecasts of our financial results
and condition, expectations for our operations and businesses, and
our assumptions for those forecasts and expectations. Do not place
undue reliance on forward-looking statements. Due to various
factors, actual results may differ materially from our
forward-looking statements. Factors that could cause our actual
results to differ materially from our forward-looking statements
are described under Managements Discussion and Analysis of
Financial Condition and Results of Operations, Risk Factors and
Regulation and Supervision in the Companys Annual Report on Form
10-K for the fiscal year ended December 31, 2016, and in other
documents subsequently filed by the Company with the Securities and
Exchange Commission, available at the SECs
website,>http://www.sec.gov, and the Companys website,
http://www.iberiabank.com. To the extent that statements in this
Current Report on Form 8-K relate to future plans, objectives,
financial results or performance by the Company, these statements
are deemed to be forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
statements are generally identified by use of words such as may,
believe, expect, anticipate, intend, will, should, plan, estimate,
predict, continue and potential or the negative of these terms or
other comparable terminology.>
Forward-looking statements represent managements beliefs, based
upon information available at the time the statements are made,
with regard to the matters addressed; they are not guarantees of
future performance. Forward-looking statements are subject to
numerous assumptions, risks and uncertainties that change over time
and could cause actual results or financial condition to differ
materially from those expressed in or implied by such statements.
Factors that could cause or contribute to such differences include,
but are not limited to: the level of market volatility, our ability
to execute our growth strategy, including the availability of
future bank acquisition opportunities, our ability to execute on
our revenue and efficiency improvement initiatives, unanticipated
losses related to the completion and integration of mergers and
acquisitions, refinements to purchase accounting adjustments for
acquired businesses and assets and assumed liabilities in these
transactions, adjustments of fair values of acquired assets and
assumed liabilities and of deferred taxes in acquisitions, actual
results deviating from the Companys current estimates and
assumptions of timing and amounts of cash flows, utilization of
non-GAAP financial measures, credit risk of our customers,
resolution of assets formerly subject to loss share agreements with
the FDIC, effects of the on-going correction in residential real
estate prices and levels of home sales, our ability to satisfy new
capital and liquidity standards such as those imposed by the
Dodd-Frank Wall Street Reform and Consumer Protection Act and those
adopted by the Basel Committee on Banking Supervision and federal
banking regulators, sufficiency of our allowance for loan losses,
changes in interest rates, access to funding sources, reliance on
the services of executive management, competition for loans,
deposits and investment dollars, competition from competitors with
greater financial resources than the Company, reputational risk and
social factors, compliance with laws and regulations, increases in
FDIC insurance assessments, geographic concentration of our
markets, economic and business conditions in our markets or
nationally, including the impact of volatility of oil and gas
prices, rapid changes in the financial services industry,
significant litigation, cyber-security risks including dependence
on our operational, technological, and organizational systems and
infrastructure and those of third party providers of those
services, hurricanes and other adverse weather events, and
valuation of intangible assets. All information is as of the date
of this Current Report on Form 8-K. Except to the extent required
by applicable law or regulation, the Company undertakes no
obligation to revise or update publicly any forward-looking
statement for any reason.
upon information available at the time the statements are made,
with regard to the matters addressed; they are not guarantees of
future performance. Forward-looking statements are subject to
numerous assumptions, risks and uncertainties that change over time
and could cause actual results or financial condition to differ
materially from those expressed in or implied by such statements.
Factors that could cause or contribute to such differences include,
but are not limited to: the level of market volatility, our ability
to execute our growth strategy, including the availability of
future bank acquisition opportunities, our ability to execute on
our revenue and efficiency improvement initiatives, unanticipated
losses related to the completion and integration of mergers and
acquisitions, refinements to purchase accounting adjustments for
acquired businesses and assets and assumed liabilities in these
transactions, adjustments of fair values of acquired assets and
assumed liabilities and of deferred taxes in acquisitions, actual
results deviating from the Companys current estimates and
assumptions of timing and amounts of cash flows, utilization of
non-GAAP financial measures, credit risk of our customers,
resolution of assets formerly subject to loss share agreements with
the FDIC, effects of the on-going correction in residential real
estate prices and levels of home sales, our ability to satisfy new
capital and liquidity standards such as those imposed by the
Dodd-Frank Wall Street Reform and Consumer Protection Act and those
adopted by the Basel Committee on Banking Supervision and federal
banking regulators, sufficiency of our allowance for loan losses,
changes in interest rates, access to funding sources, reliance on
the services of executive management, competition for loans,
deposits and investment dollars, competition from competitors with
greater financial resources than the Company, reputational risk and
social factors, compliance with laws and regulations, increases in
FDIC insurance assessments, geographic concentration of our
markets, economic and business conditions in our markets or
nationally, including the impact of volatility of oil and gas
prices, rapid changes in the financial services industry,
significant litigation, cyber-security risks including dependence
on our operational, technological, and organizational systems and
infrastructure and those of third party providers of those
services, hurricanes and other adverse weather events, and
valuation of intangible assets. All information is as of the date
of this Current Report on Form 8-K. Except to the extent required
by applicable law or regulation, the Company undertakes no
obligation to revise or update publicly any forward-looking
statement for any reason.
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. IBERIABANK CORPORATION (NASDAQ:IBKC) Recent Trading Information
IBERIABANK CORPORATION (NASDAQ:IBKC) closed its last trading session up +0.40 at 79.75 with 674,369 shares trading hands.