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IberiaBank Corp. to acquire Trust One branches

By news admin

LAFAYETTE, La. (AP) - IberiaBank Corp. of Lafayette announced Friday that it will acquire the six Memphis, Tenn. branches of Trust One Bank, a division of Synovus Bank.

The price was not disclosed.

IberiaBank will acquire selected loans and other assets and the deposits of Synovus' Memphis operations in an acquisition expected to close by the end of 2013. As of Aug. 31, Synovus had $131 million in loans and $205 million in deposits in Memphis. The company's branches employed 33 people, according to The Advocate (http://bit.ly/1aaZ54f).
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