IBERIABANK has completed its acquisition of certain Florida Trust Company assets, which have now been integrated into IBERIA Wealth Advisors.

Florida Trust is a wholly-owned subsidiary of the Bank of Florida and has around $415 million in assets under management as of 9 June 2011. The company has offices in Naples and Fort Lauderdale. An initial payment of $0.7 million was made at closing, with a contingent payment to be given out in a year. This amount shall be computed out of the revenue gained by IBERIABANK during this one-year period, up to a maximum of $0.7 million. 

IBERIABANK has rapidly grown in South Florida over the last 15 months, marked by its acquisition of Orion Bank, Century Bank and Sterling Bank. These takeovers effectively bolstered its branch network by 45 offices, and its assets by around $3.5 billion. The entire IBERIABANK Corporation has approximately $12 billion in AuM.