|Louisiana bank purchases Old Florida for $259M|
|News - St Augustine Area & St Johns County|
Orlando-based Old Florida Bancshares Inc., with 12 branches in Orlando, was acquired by Louisiana-based IberiaBank in a stock-purchase deal valued at $259 million. As part of the acquisition, Old Florida Bank President and Chief Executive Officer John Burden Sr. will become executive vice president of 127-year-old IberiaBank, according to a news release.
Old Florida opened its first branch in Longwood in 1982. As part of the Old Florida Bancshares group, it acquired Mercantile Capital Corporation in 2010 and New Traditions Bank in 2013.
Read entire article: Louisiana bank purchases Old Florida for $259M