IberiaBank Corp. (IBKC), a banking services provider, Tuesday reported a 5% decline in second quarter earnings on lower interest income and higher non-interest expenses.
The Lafayette, Louisiana-based company's net income for the second quarter fell to $9.5 million or $0.74 per share from $10.0 million or $0.78 per share in the previous year quarter.
Recent quarter net income included a negative impact associated with the acquisition of certain assets and liabilities of ANB Financial. Excluding the impact, the company earned $10.2 million or $0.80 per share. On average, ten analysts surveyed by First Call/Thomson Financial estimated earnings of $0.84 per share.
Net interest income after provision for loan losses was $30.9 million, down from $31.3 million in the prior-year quarter. Noninterest income increased 4% to $22.68 million from $21.81 million in the year-ago quarter.
Provision for loan losses for the second quarter was $1.5 million, compared to reversal of loan losses of $595 thousand in the preceding year quarter.
Total non-performing assets at the end of the second quarter were $41.9 million or 0.79% of total assets, higher than $21.1 million or 0.45% of total assets at the end of the previous year quarter.
Total non-interest expense grew 4.1% to $40.3 million from $38.7 million in the same quarter of the earlier year. Interest expense fell to $32.6 million from $35.2 million in last year quarter.
For the six-month period, the company's net income increased to $22.9 million or $1.79 per share from $19.2 million or $1.53 per share in the corresponding period of the prior year.
Net interest income after provision for loan losses was $61.1 million, up from $58.5 million in the year-ago period. Total non-interest income grew to $49.0 million from $36.0 million in the preceding year period.
Shares of IberiaBank are currently trading at $49.22, up 91 cents or 1.88%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.