Louisiana-based
IberiaBank has entered into an agreement to acquire assets of the Florida Trust
Company, a subsidiary of the Bank of Florida Corporation.

The
Florida Trust Company team will join Iberia Wealth Advisors, the trust and
asset management division of IberiaBank. The bank launched Iberia Wealth
Advisors in July of last year.

Under
the terms of the deal, IberiaBank will pay the Bank of Florida Corporation an
initial payment of $700,000 and a contingent payment of up to $700,000 million.
The contingent payment will be paid approximately one year after the completion
of the transaction and will be determined based on the amount of revenue
realized by IberiaBank during that period from former Florida Trust Company
clients. 

Florida
Trust Company has $460 million in assets under management and operates offices
in Naples and Fort Lauderdale, Florida.

"This
transaction provides an opportunity to accelerate the entry of our Trust and
Wealth Management businesses into our key Florida markets," Jefferson Parker,
vice chairman and managing director of trust, brokerage and wealth management
for IberiaBank said.