Pete Yuan, Arkansas region president for IberiaBank since 2010, has taken over as president of the bank’s Texas market. He assumed the role in early October.
Yuan will be based in Houston and his responsibilities will include management of the bank’s Houston and Dallas banking franchises and the company’s title business.
“I am very excited to have this opportunity, as Texas is one of our company’s largest and fastest growing markets,” Yuan wrote in an email.
Gregory K. Smithers, regional president of IberiaBank’s Tennessee market, was announced Tuesday (Oct. 18) as Yuan’s replacement as Arkansas region president. He will be based in Memphis.
“I am thrilled to have the opportunity to manage our Arkansas franchise,” Smithers said. “We have an excellent footprint throughout the state and are well positioned for the opportunities in front of us.”
IberiaBank is a subsidiary of publicly traded IberiaBank Corp., a financial holding company headquartered in Lafayette, La.
According to data from the FDIC, the bank operates 23 offices in Arkansas.
In terms of deposits, IberiaBank is the tenth largest bank in Arkansas, with $1.16 billion in statewide deposits, equal to 1.9 percent of the state’s market share.
Its top executives in Arkansas include James Phillip Jett, Jr., executive vice president and president of central Arkansas; Paul E. Hutcheson, Jr., executive vice president and president of Northeast Arkansas; and Robert M. Head, executive vice president and Arkansas regional group manager.
In addition, Jett’s responsibilities have expanded to serve as president of IberiaBank’s Northwest Arkansas market, which has five branch locations — two in Rogers, and one each in Springdale, Fayetteville and Bentonville.
“With our continued growth comes the opportunity to promote talent,” IberiaBank President and CEO Daryl Byrd said in a statement. “Arkansas is an important market for us. Under Greg’s leadership, I am confident Phillip, Paul and Robert will continue to do a great job recruiting and retaining exceptional clients, investing in our communities, and managing our outstanding banking team.”
IberiaBank’s deposits in Texas total $1.57 billion in 10 locations, equal to 0.21% of the statewide market share. That’s up from four offices and $185.2 million in deposits five years ago.
In Tennessee, IberiaBank has 0.27% of the statewide market share, with $375 million in deposits in eight branch locations. That’s up from two offices and $155.2 million in deposits five years ago.