IberiaBank to lay off 97 Teche Federal workers - KLFY News 10

IberiaBank to lay off 97 Teche Federal workers

Updated:
IberiaBank file photo. IberiaBank file photo.

LAFAYETTE, La. (AP) - IberiaBank Corp. plans to lay off 97 workers at Teche Federal Bank's corporate headquarters in New Iberia. That's according to documents filed Monday with the Louisiana Workforce Commission.

The layoffs are the result of IberiaBank's acquisition of Teche Holding Co., the holding company for Teche Federal. The Advocate reports the layoffs are scheduled to take place in various departments in two two-week periods. The first begins May 31 and the second begins on June 30.

Lafayette-based IberiaBank announced a $161 million stock deal for Teche Federal in January. Teche shareholders must approve the deal, but a date has not been set for the vote.

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