Iberiabank (IBKC) 10-K 2003 FY Annual report

EXHIBIT 12

STATEMENTS RE: COMPUTATION OF RATIOS

The following is a computation of Non-GAAP financial ratios:

	Years Ended December 31,
(dollars in thousands, except per share data)	2003			2002			2001			2000			1999
Net Interest Income	$	67,633		$	59,594		$	54,350		$	51,236		$	49,649
Effect of Tax Benefit on Interest Income		2,603			1,469			427			182			146
Net Interest Income (TE)(1)		70,236			61,063			54,777			51,418			49,795
Noninterest Income		23,064			17,866			15,144			12,818			13,735
Effect of Tax Benefit on Noninterest Income		819			652			149			—			—
Noninterest Income (TE)(1)		23,883			18,518			15,293			12,818			13,735
Total Revenues (TE)(1)	$	94,120		$	79,581		$	70,070		$	64,236		$	63,530
Total Noninterest Expense	$	50,629		$	44,032		$	41,711		$	39,704		$	44,881
Less Intangible Amortization Expense		(781	)		(243	)		(3,151	)		(3,267	)		(3,400	)
Tangible Operating Expense(2)	$	49,848		$	43,789		$	38,560		$	36,437		$	41,481
Return on Average Equity		13.05	%		13.12	%		10.83	%		10.75	%		7.84
Effect of Intangibles(2)		6.52			4.66			6.68			8.57			7.84
Return on Average Tangible Equity (2)		19.57	%		17.78	%		17.51	%		19.32	%		15.68
Efficiency Ratio		55.8	%		56.8	%		60.0	%		62.0	%		70.8
Effect of Tax Benefit Related to Tax Exempt Income		(2.0	)		(1.5	)		(0.5	)		(0.2	)		(0.2	)
Efficiency Ratio (TE)(1)		53.8	%		55.3	%		59.5	%		61.8	%		70.6
Effect of Amortization of Intangibles		(0.8	)		(0.3	)		(4.5	)		(5.1	)		(5.4	)
Tangible Efficiency Ratio (TE)(1) (2)		53.0	%		55.0	%		55.0	%		56.7	%		65.3

⁽¹⁾ Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a marginal tax rate of 35%.

⁽²⁾ Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.