LAFAYETTE, La., Jan. 26, 2018 /PRNewswire/ -- IBERIABANK (www.iberiabank.com), the 130-year-old subsidiary of IBERIABANK Corporation (NASDAQ: IBKC), announced today, that following the passage of the new federal tax reform legislation, the Company will invest a portion of savings in its associates in two meaningful ways:
- Pay raise of $2/hour* will be given to non-exempt, non-commissioned associates, who currently earn $15 per hour or less, ranging from an average of 12% to as much as a 23% increase, in base compensation.
- $1,000 cash bonus* will be paid to all part-time and full-time associates who currently earn between $15/hour and $100,000 annually in base pay.
"In total, these investments benefit nearly 80% of our associates. We are very proud of our team, and we are pleased to reward those who take care of our clients and our communities every day in extraordinary ways," says Daryl G. Byrd, President and CEO of IBERIABANK Corporation. "Continuing to invest in our people helps us to attract and retain high quality associates, which translates into strong financial performance and positive results for our shareholders."
The Company is a financial holding company with 335 combined offices, including 228 bank branch offices and one loan production office in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, and South Carolina, 24 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 68 locations in 10 states. The Company has 13 locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC." Follow IBERIABANK on LinkedIn, Facebook and Twitter.
SOURCE IBERIABANK Corporation