BUSINESS

Jan 13, 2014 9:40 AM by Ian Auzenne

IberiaBank to acquire Teche Federal Bank

Two Acadiana based banks will merge later this year.

IberiaBank announced this morning that it will acquire Teche Federal Bank in the transaction. Officials with both banks say the deal could close in the second quarter of 2014 pending regulatory approval and the approval of Teche's shareholders.

The New Iberia-based Teche Federal Bank has locations in Lafayette, St. Landry, St. Martin, Iberia, St. Mary, Terrebonne, and East Baton Rouge Parishes. The bank's total consolidated assets total $857 million.

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