Iberiabank To Acquire Cameron State Bank
A popular bank in Southwest Louisiana, Cameron State Bank has been acquired by Iberia Bank Corp.
LAKE CHARLES, LA (KPLC) - Officials with Iberiabank Corp. announced Friday the signing of a definitive agreement to acquire Cameron Bancshares Inc. in a stock-for-stock exchange valued at $133 million.
A news conference was held Friday morning in Lake Charles to discuss the deal.
According to a press release, the transaction has been approved by the Board of Directors of each company and is expected to close in the second quarter of 2011.
Roy M. Raftery, Jr., President and Chief Executive Officer of Cameron, will be named Chairman of the Lake Charles region for Iberia Bank after the acquisition completes.
Stay tuned for further details.