A new bank is preparing to enter the Charlotte market - | WBTV Charlotte

A new bank is preparing to enter the Charlotte market

Charlotte's banking sector is getting a new name, with Louisiana-based IberiaBank announcing plans to enter the market. (Credit: Diedra Laird | The Charlotte Observer) Charlotte's banking sector is getting a new name, with Louisiana-based IberiaBank announcing plans to enter the market. (Credit: Diedra Laird | The Charlotte Observer)
CHARLOTTE, NC (Deon Roberts/The Charlotte Observer) -

Charlotte's banking sector is getting a new name, with Louisiana-based IberiaBank announcing plans to enter the market.

The Lafayette-based company said Tuesday it has hired Rotcher Watkins, former Charlotte market president for First Tennessee Bank, to hold the same role for Iberia in Charlotte.

The company did not disclose where its first Charlotte office will be, and a spokesperson referred questions to Watkins, who was not immediately available for comment.

Iberia in recent years has identified the Carolinas as a market where it wants to expand.

In 2016, it announced its entrance into South Carolina with the hiring of an executive to oversee expansion in that state. Last year, it announced the opening of its first North Carolina location in Greensboro, and the hiring of a Triad market president to lead that effort.

Iberia adds to the list of new bank brands that have entered the city in recent years. In many cases, the appearance of those new names was the result of Charlotte-based banks being swallowed up in mergers and acquisitions.

Years of such consolidations have depleted the number of banks headquartered in the city. 

A planned merger announced in January involving Charlotte-based NewDominion Bank will leave Charlotte with just one bank headquartered here: Bank of America.

RELATED: Another merger means Charlotte will soon be down to one bank headquarters

The loss of banking headquarters is a major reason Charlotte lost its long-held title of nation's second-largest banking center to San Francisco.

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