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Iberiabank Corp. (IBKC), of Louisiana, has become the first to file to return its TARP funds. It...

Iberiabank Corp. (IBKC), of Louisiana, has become the first to file to return its TARP funds. It has found investment to replace the $90 million it received from TARP. CEO Daniel Byrd, in a press release dated last night that has just come to light, says "continued participation in this program is no longer in the best interest of our Company and its shareholders."
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  • J. D. Swampfox
    , contributor
    Comments (160) | Send Message
     
    The press release says "We believe recent actions, interpretations, and commentary regarding various aspects of the program places our Company at an unacceptable competitive disadvantage. Our Board of Directors has determined that continued participation in this program is no longer in the best interest of our Company and its shareholders."

     

    At first folks said that a big, government-assisted bank had an unfair advantage over smaller unassisted ones, now the pendulum has swung against that idea...could it be that government bureaucratic meddling decreases operational profitability? If so, what does that mean for future profitability of Citi and the other soon-to-be-80-percent-... banks?
    27 Feb 2009, 03:29 PM Reply Like
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