Urban Institute: Qualified Mortgage impact overblown

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New rules have only slightly slowed mortgage lending

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Kovacevich says fine is political and has “nothing to do with justice”

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Loans date back to Countrywide and Merrill Lynch
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Iberiabank Reserves $3.6 Million For Loan Losses

Regional banking outfit Iberiabank Corp. is facing some earnings pressure as the housing slump extends into the Southern U.S., it said in a press statement Tuesday. The bank is the latest to join a growing list of smaller and community banks now feeling the pinch of a continued downturn in housing. Citing "significant softness in residential housing conditions," the bank holding company said housing conditions in Northwest Arkansas, Memphis and the Memphis suburbs of north Mississippi were contributing to an increase in non-performing assets in its portfolio. The company also said it was facing some pressure from residential construction loans in the markets it serves as well. The holding company operates 81 bank branch offices in Louisiana, Arkansas, Tennessee, and Oklahoma. Iberiabank said it expects to report approximately $48.2 million in non-performing assets for the fourth quarter, as a result, with $18.7 million of that amount coming from its residential construction portfolio. The increase in non-performing assets will drive a $3.6 million provision for loan losses, compared to a negative provision of $1.7 million one quarter earlier. For more information, visit http://www.iberiabank.com.

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