IBERIABANK Corporation, the holding company of the 128-year-old IBERIABANK, announced completion of the acquisition of Georgia Commerce Bancshares, Inc. ("Georgia Commerce") and its subsidiary bank, Georgia Commerce Bank, based in Atlanta, Georgia. The acquisitions, including the merger of Georgia Commerce Bank with and into IBERIABANK, were completed effective on May 31, 2015.  The branch and operating systems conversions are expected to be completed within the next 30 days.

Mark Tipton, former Chief Executive Officer of Georgia Commerce Bancshares, Inc., commented, "We are proud of our many past accomplishments at Georgia Commerce and very excited to be an important part of IBERIABANK's future.  Since inception, our shareholders received a four-fold return on their investment – truly an amazing feat considering the economic conditions during that time frame.  Going forward, we have the opportunity to share in the strength and liquidity of a unique market-driven regional bank with a strong local focus and to benefit from quarterly cash dividends. Rodney Hall, our former President, and I are very excited about our expanded roles at IBERIABANK and the enhanced benefits to the clients and communities we have served for many years."

Daryl G. Byrd, President and Chief Executive Officer of IBERIABANK Corporation, commented, "We welcome the shareholders, clients, and associates of Georgia Commerce to our organization.  Mark Tipton and Rodney Hall have done a marvelous job building a top-notch franchise in Atlanta.  Our intent is to continue to build upon their success in a very high-quality manner.  Effective immediately, Mark Tipton has been named our Georgia Regional President and Rodney Hall has been named Atlanta Market President.  In addition, we are delighted that the Georgia Commerce board of directors will become our local advisory board for the Atlanta market.  We believe our entrance into the Metro Atlanta market is well-timed, we partnered with exceptional local talent with similar cultural values, and the market has tremendous growth potential."

Under the terms of the Agreement and Plan of Merger, Georgia Commerce common stock shareholders shall receive 0.6134 of a share of IBERIABANK Corporation common stock for each outstanding share of Georgia Commerce common stock. The number of IBERIABANK Corporation shares issued in the merger was based on the weighted average trading price of the Company's common stock during the 20-trading day period ended May 29, 2015, of $64.08.  Based on the Company's closing common stock price of $64.26 per share on May 29, 2015, the aggregate value of the common stock received at the time of closing was $39.42 per share of Georgia Commerce common stock.  The stock transfer agent, Computershare, will send to Georgia Commerce common shareholders instructions regarding the process to exchange shares within approximately two weeks from the closing date.  Shareholders with questions regarding the exchange process should contact Computershare, toll free, at 1-866-305-9581.

Georgia Commerce had nine offices serving the Metro Atlanta area. At March 31, 2015, Georgia Commerce had total assets of $1.1 billion, gross loans of $793 million, and total deposits of $918 million.