LAFAYETTE, La., April 19, 2018 /PRNewswire/ -- IBERIABANK
Corporation (NASDAQ: IBKC) ("IBKC"), holding company of the
131-year-old IBERIABANK (www.iberiabank.com), announced today its
2020 Strategic Goals. The 2020 Strategic Goals provide
financial and operating targets for Company performance to be
achieved by the end of 2020.
Daryl G. Byrd, President and
Chief Executive Officer, commented, "We are pleased to announce our
2020 Strategic Goals to both shareholders and the investment
community. Over the past few years, our Company has undergone
significant change, increasing our Southeastern presence through
strong organic growth and opportunistic, accretive acquisitions.
Our Company has grown from $15.8
billion in 2014 to $29.5
billion in total assets and now includes over 300 offices in
12 states. IBERIABANK operates a unique, market-centric business
model in some of the most dynamic markets in the country. We
continue to provide best-in-class service and an exceptional value
proposition to our clients while providing an attractive career
path for our associates. I believe our 2020 Strategic Goals not
only reflect the strength of our business today, but also
confidence in our ability to capitalize on the opportunities we see
in our markets. Our overarching theme of Sustainable,
Profitable Growth reflects our view that a balanced approach to
growth, efficiency, and risk management will produce outstanding
operating results."
|
2020
Goal
|
Core EPS
Growth
|
>10%
|
Core Return on
Average Assets
|
>1.30%
|
Core Return On
Average Tangible Common Equity
|
>15%
|
Core Tangible
Efficiency Ratio
|
< 55%
|
Byrd continued, "As a management team, our job is to deliver
outstanding returns for our shareholders. Regardless of
changes in market rates and competitive forces, our 2020 Strategic
Goals provide a working objective that all IBERIABANK associates
strive for and our investors should expect. The measurement of
our team's success is tied to the overall performance of the
Company, and specifically to achieving these metrics."
IBERIABANK Corporation
IBERIABANK Corporation is a regional financial holding company
with offices in Louisiana,
Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, New
York, North Carolina, and
South Carolina, offering
commercial, private banking, consumer, small business, wealth and
trust management, retail brokerage, mortgage, and title insurance
services.
The Company's common stock trades on the NASDAQ Global Select
Market under the symbol "IBKC". The Company's Series B Preferred
Stock and Series C Preferred Stock also trade on the NASDAQ Global
Select Market under the symbols "IBKCP" and "IBKCO", respectively.
The Company's common stock market capitalization was approximately
$4.5 billion, based on the NASDAQ
Global Select Market closing stock price on April 19, 2018.
The following 10 investment firms currently provide equity
research coverage on the Company:
- Bank of America Merrill Lynch
- FIG Partners, LLC
- Hovde Group, LLC
- Jefferies & Co., Inc.
- Keefe, Bruyette & Woods, Inc.
- Piper Jaffray & Co.
- Raymond James & Associates,
Inc.
- Sandler O'Neill + Partners, L.P.
- Stephens, Inc.
- SunTrust Robinson-Humphrey
Conference Call
In association with this announcement, the Company will host a
live conference call to discuss both the financial results for the
quarter just completed and the announcement of the 2020 Strategic
Goals. The telephone conference call will be held on Friday, April 20, 2018, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003.
The confirmation code for the call is 9690151. A replay of the call
will be available until midnight Central
Time on April 27, 2018, by
dialing 1-877-344-7529. The confirmation code for the replay is
10118181. The Company has prepared a PowerPoint presentation that
supplements information contained in this press release. The
PowerPoint presentation may be accessed on the Company's web site,
www.iberiabank.com, under "Investor Relations" and then "Financial
Information" and "Presentations."
Caution About Forward-Looking Statements
This press release 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
"Management's Discussion and Analysis of Financial Condition and
Results of Operations," "Risk Factors" and "Regulation and
Supervision" in the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2017,
and in other documents subsequently filed by the Company with the
Securities and Exchange Commission, available at the SEC's website,
http://www.sec.gov, and the Company's website,
http://www.iberiabank.com. To the extent that statements in this
press release 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 management's 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.
All information is as of the date of this press release. 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.
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SOURCE IBERIABANK Corporation