LAFAYETTE, La., May 4, 2020 /PRNewswire/ -- IBERIABANK
Corporation (NASDAQ: IBKC), the holding company of the 133-year-old
IBERIABANK (www.iberiabank.com), reports updated results related to
the Small Business Association's Paycheck Protection Program (SBA
PPP).
Since the SBA PPP was launched on April
2, 2020, IBERIABANK has secured a total of $2.13 billion impacting 240,000 employees. As of
May 1, 2020, the Company received and
processed 15,000 applications. 99.8% of fully qualified loans have
received SBA allocation of funds. Between
May 1 and May 2, 2020, the Company has received more than
200 additional applications, which are currently being
processed.
"Since inception of the program, our team has been processing
loan applications as rapidly as possible, and we are very pleased
with our ability to serve our clients well during this very
challenging time," says Daryl G.
Byrd, President and CEO of IBERIABANK. "Following Congress'
decision to appropriate additional funding to the PPP, we were well
prepared to continue to execute at extraordinary levels. The
results are a true testament to the commitment of our team."
The Company is continuing to accept PPP applications via
IBERIABANK.com or by contacting a local banker, subject to
available funding.
IBERIABANK Corporation is a financial holding company with
locations in Louisiana,
Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South
Carolina, North Carolina,
Mississippi, Missouri, and New
York offering commercial, private banking, consumer, small
business, wealth and trust management, retail brokerage, mortgage,
commercial leasing and equipment financing, and title insurance
services.
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SOURCE IBERIABANK Corporation
