Bank deal gets regulatory approval
June 16, 2020 - The Board of Governors of the Federal Reserve System has approved the planned acquisition of IberiaBank Corp. by First Horizon National Corp. First Horizon (NYSE: FHN), a Memphis-based bank, said in November that it had an agreement to buy all the stock of IberiaBank Corp. (Nasdaq: IBKC) for $3.9 billion. IberiaBank is a Lafayette, Louisiana-based bank that entered the Tampa-St. Petersburg market in 2015 when it acquired the former Florida Bank and Florida Bank Group. IberiaBank has six offices and $364 million in deposits in the Tampa-St. Pete area. The First Horizon-IberiaBank deal is expected to close on July 1 and will create one of the largest financial services companies headquartered in the South, a news release said.