ATLANTA — IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 128-year-old IBERIABANK, announces that the conversion of Georgia Commerce Bank’s name, core operating system, products, and signage is now complete. One of the branches will be located in Cumming at 2555 Peachtree Parkway.
On December 8, 2014, IBERIABANK Corporation acquired Atlanta-based Georgia Commerce Bancshares, Inc., the holding company of Georgia Commerce Bank. Over the weekend of June 26, 2015, IBERIABANK successfully consolidated operating systems and signage. As of Monday, June 29, 2015, all former Georgia Commerce Bank branches will operate as IBERIABANK.
“We are very pleased that the conversion went smoothly. The transition for clients is always a top priority, and we have many experienced team members involved to help minimize client impact,” said Daryl G. Byrd, President and Chief Executive Officer of IBERIABANK Corporation. “We are excited to expand our footprint in the Atlanta area. We see strong growth opportunities coming out of Atlanta and expect to see this trend continue.”
Mark W. Tipton, who served as President and Chief Executive Officer for Georgia Commerce Bank, will now serve as Executive Vice President, Regional State President for Georgia. “We are proud of our many accomplishments at Georgia Commerce Bank and excited to be an important part of IBERIABANK’s future,” said Mark Tipton. “We are well positioned to continue serving our clients with an expanded range of products, superior capital strength, and a sincere commitment to personal service.”
Rodney L. Hall, former President of Georgia Commerce Bank, will now serve as Executive Vice President and Atlanta Market President. “I was impressed with the proficiency and client focus demonstrated by the IBERIABANK team throughout the conversion process,” said Hall. “Feedback from the community, clients and associates has been extremely positive.”
At March 31, 2015, Georgia Commerce Bank had total assets of $1.1 billion, gross loans of $789 million and total deposits of $917 million. Georgia Commerce Bank operated 9 offices in the metro-Atlanta area.
IBERIABANK Corporation
The Company is a financial holding company with 323 combined offices, including 216 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 23 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 63 locations in 12 states. The Company has eight locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.
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