IBERIABANK Corp., Lafayette, La., hired Prudential Financial as record keeper of its 401(k) plan, said Beth Ardoin, company spokeswoman.
Prudential will replace Principal Financial Group effective Jan. 2, 2018. A blackout period for participants will begin at 4 p.m. EST on Dec. 19 and end on or about Jan. 15, 2018.
Ms. Ardoin said the change was a result of "simply an evaluation of the provider that was best for the company."
As of Dec. 31, the IBERIABANK Corp. Retirement Savings Plan had $127 million in assets, according to the company's most recent Form 5500 filing.