When did the name change occur?
The effective date of the bank was Monday, May 4, 2009.
Why did we change our name?
In today’s unprecented times, we believe having essentially one bank brand will serve us better than two.
In January of 2007, IBERIABANK Corp. purchased Pulaski Investment Corp. for 3.2 times book value - an above-average price and more than double the multiple for most financial institution purchases. A lot of that value was attributed to Pulaski Investment Corp’s “very profitable” subsidiaries: Lenders Title Company and Pulaski Mortgage Company which operated in 20 cities in 8 states. After the sale, Jim East, the former chairman of Pulaski Investment Corp., took his seat on the IBERIABANK Corp. board of directors as the largest single shareholder of IBERIABANK stock - NASDAQ: IBKC.
Pulaski Mortgage Company had very strong name recognition, a history of success and a positive image in Central and Northwest Arkansas. However, we believe that adopting a name more closely aligned with IBERIABANK provides greater opportunity to develop a common brand across our rapidly expanding footprint. Expanding our Company under the thrift charter also allows us tremendous flexibility to grow quickly and with great ease into new markets.
What else changed?
Nothing - just the name. This was not an acquisition or a merger. The Pulaski Bank name simply changed to IBERIABANK and the Pulaski Mortgage Company name changed to IBERIABANK Mortgage Company.
All Pulaski Bank labeled information will continue to be accepted.