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IberiaBank receives regulatory approval for Gibraltar acquisition

Keith Larsen
American City Business Journals

IberiaBank Corp. just moved one step closer to completing its acquisition of Gibraltar Private Bank & Trust. The Louisiana company (IBKC) received approval today from the Federal Reserve for its $223 million planned acquisition of Coral Gables-based Gibraltar Private. If Gibraltar's shareholders also approve, it will mean there will be only eight banks in South Florida with more than $1 billion in assets.