-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UnH6qQ78y+Gr2BnNrlM0TxWQn7+QD5y5CSmUIQCUAl0HTuCHgoV+KEYsxwH0o5Jq q4H6PbgmDtRczE83m9Cr5Q== 0001065407-98-000070.txt : 19980928 0001065407-98-000070.hdr.sgml : 19980928 ACCESSION NUMBER: 0001065407-98-000070 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980911 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980925 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ISB FINANCIAL CORP/LA CENTRAL INDEX KEY: 0000933141 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 721280718 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-25756 FILM NUMBER: 98714959 BUSINESS ADDRESS: STREET 1: 1101 E ADMIRAL DOYLE DR CITY: NEW IBERIA STATE: LA ZIP: 70560 BUSINESS PHONE: 3183652361 MAIL ADDRESS: STREET 1: 1101 EAST ADMIRAL DOYLE DR CITY: NEW IBERIA STATE: LA ZIP: 70560 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 September 11, 1998 - ----------------------------------------------------------------------------- (Date of earliest event reported) ISB Financial Corporation - ----------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Louisiana 0-25756 72-1280718 - ----------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 1101 East Admiral Doyle Drive, New Iberia, Louisiana 70560 - ----------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (318) 365-2361 - ----------------------------------------------------------------------------- (Registrant's telephone number, including area code) Not Applicable - ----------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 2. Acquisition or Disposition of Assets ------------------------------------ On September 11, 1998, IBERIABANK, the wholly owned subsidiary of ISB Financial Corporation (the "Company"), completed the acquisition (the "Acquisition") of 17 full-service branch offices with aggregate deposits of approximately $454 million from The First National Bank of Lafayette ("First National") and Central Bank, Monroe, Louisiana, subsidiaries of the former First Commerce Corporation, which has been acquired by BancOne Corporation. Seven of the offices with aggregate deposits of approximately $202 million are in the Lafayette market area and were operated as offices of First National, and ten of the offices with aggregate deposits of approximately $252 million are in the Monroe market area and were operated as offices of Central Bank. IBERIABANK paid a premium of 6.45% for the acquired deposits. In addition to the branch offices and deposits, IBERIABANK acquired approximately 7,800 loans with an aggregate balance of approximately $127 million for a purchase price equal to the adjusted book value of such loans. Other than the Acquisition, there is no material relationship between the Company (including IBERIABANK) and the former First Commerce Corporation (including First National and Central Bank). The Company issued a press release on September 11, 1998 with respect to the Acquisition which is attached hereto as an exhibit to this Form 8-K and is incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits ------------------------------------------------------------------ (a)(b) Pursuant to the requirements of Item 7(a)(4) and Item 7(b)(2) of Form 8-K, the Company will file an amendment hereto within sixty (60) days of the due date of this Current Report containing any financial information and exhibits required by Item 7. (c) Exhibits: 10.1 Office Purchase and Assumption Agreement between First National and IBERIABANK, dated as of June 4, 1998 (without Schedules)* 10.2 Office Purchase and Assumption Agreement between Central Bank and IBERIABANK, dated as of June 4, 1998 (without Schedules)* 99 Press Release, dated as of September 11, 1998 _________________ * Incorporated herein by reference to the Company's Form 8-K, dated June 4, 1998. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ISB FINANCIAL CORPORATION Date: September 24, 1998 By: /s/ Larrey G. Mouton ------------------------------------- Larrey G. Mouton President and Chief Executive Officer EX-99 2 Exhibit 99 Press Release, dated as of September 11, 1998 EXHIBIT 99 IBERIABANK Acquires 17 Branch Offices NEW IBERIA, La., Sept. 11-- IBERIABANK, the wholly owned commercial bank subsidiary of ISB Financial Corporation (Nasdaq: ISBF; the ``Company''), today announced that it has completed the acquisition of seventeen full-service branch offices with aggregate deposits of approximately $454 million from the former First Commerce Corporation. Seven of the offices with aggregate deposits of approximately $202 million are in the Lafayette market area and were operated as offices of The First National Bank of Lafayette (``First National''), and ten of the offices with aggregate deposits of approximately $252 million are in the Monroe market area and were operated as offices of Central Bank, Monroe, Louisiana. A list of the branch offices is provided below. Central Bank Branch 0ffice Address Northeast 3500 DeSiard Street, Monroe Claiborne 5329 Cypress St., West Monroe South Central 1900 Jackson St., Monroe Lakeshore 8019 DeSiard St., Monroe Central Center One Stella Mill St., West Monroe Super 1-Monroe 2810 Louisville Ave., Monroe Super 1-West 2907 Cypress St., West Monroe Monroe Brookshire's 2348 Sterlington Road, Monroe Ruston Main Office 305 S. Vienna, Ruston North Trenton 1327 N. Trenton, Ruston First National Bank of Lafayette Branch Office Address Oil Center 463 Heymann Blvd., Lafayette Northgate 1820 Moss St., Lafayette Congress 4010 W. Congress St., Lafayette Caffery 3710 Ambassador Caffery Pkwy, Lafayette Scott 200 Westgate Road, Scott Kaliste Saloom 420 Kaliste Saloom, Lafayette Carencro 805 Bernard Road, Carencro The 17 branch offices include approximately 48,000 customers or deposit accounts (including approximately $62 million in demand deposit accounts). IBERIABANK paid a deposit premium of 6.45%. In addition to the branch offices and deposits, IBERIABANK acquired approximately 7,800 loans with an aggregate balance of $127 million for a purchase price equal to the adjusted book value of such loans. On September 11, 1998, the 17 acquired branch offices will open for business fully converted to IBERIABANK offices and the former First National and Central Bank employees will continue to staff the offices as IBERIABANK employees. Larrey G. Mouton, President and Chief Executive Officer of IBERIABANK, said, ``We are very excited at the opportunity to expand our customer base and we welcome these new customers and employees to IBERIABANK.'' IBERIABANK's branch office network has now increased to 44 offices in 10 parishes in Louisiana. Based on deposits, IBERIABANK now ranks second in market share in both the Lafayette and Monroe market areas. ISB Financial Corporation now has approximately $1.4 billion in assets, $1.2 billion in deposits and $802 million in total loans. ISB Financial Corporation is the holding company for IBERIABANK. IBERIABANK now operates 26 full service offices located in south central Louisiana, eight full service offices located in the Greater New Orleans area and 10 full service offices in the Monroe market area. The deposits of IBERIABANK are insured by the Federal Deposit Insurance Corporation to the full extent provided for by law and regulation. -----END PRIVACY-ENHANCED MESSAGE-----