Iberiabank (IBKC) 8-K IBERIABANK Corporation Reports Record Yearly Results For Fourth Quarter

Exhibit 99.1

FOR IMMEDIATE RELEASE

January 28, 2010

Contact:

Daryl G. Byrd, President and CEO (337) 521-4003

John R. Davis, Senior Executive Vice President (337) 521-4005

IBERIABANK Corporation Reports Record Yearly Results For Fourth Quarter

LAFAYETTE, LOUISIANA – IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 122-year-old IBERIABANK (www.iberiabank.com) and IBERIABANKfsb (www.IBERIABANKfsb.com), announced income available to common shareholders of $106 million for the quarter ended December 31, 2009, an increase of 340% compared to the third quarter of 2009 (“linked quarter basis”). Fully diluted earnings per share (“EPS”) were $5.23 in the fourth quarter of 2009, an increase of 332% on a linked quarter basis compared to $1.21 in the third quarter of 2009. For the full year of 2009, the Company reported net income to common shareholders of $144 million, up 273% compared to $39 million in 2008. EPS for 2009 was $8.03, up 171% compared to $2.96 in 2008. According to First Call, the consensus analyst EPS estimate for the Company for the fourth quarter of 2009 was $1.82 and $4.02 for the full year of 2009.

Daryl G. Byrd, President and Chief Executive Officer commented, “2009 was a year of tremendous achievement and opportunity for our Company. Our shareholders and other constituents benefitted from our many years of sacrifice, hard work, discipline, and foresight. Our fourth quarter and year-end results are a clear demonstration of our profitability, capital strength, and sound asset quality compared to the severe strife within the financial services industry.” Byrd continued, “Despite the industry challenges, our shareholders received a total return on their investment of 522% between year-ends 1999 and 2009, assuming reinvestment of quarterly cash dividends. This equated to a total annual shareholder return of 20% over that period.”

Significant Influences on the Quarter Ended December 31, 2009

• CapitalSouth Bank Conversion. In the third quarter of 2009, the Company acquired in a FDIC-assisted transaction selected assets and assumed selected liabilities of CapitalSouth Bank, a bank formerly headquartered in Birmingham, Alabama, with 10 offices in the metropolitan statistical areas (“MSAs”) of Birmingham, Montgomery, and Huntsville, Alabama and Jacksonville, Florida. Over the weekend of November 7-8, 2009, the Company completed the conversion of the operating systems of CapitalSouth Bank.

• Orion Bank and Century Bank Acquisitions. The Company completed its FDIC-assisted acquisitions of selected assets and assumptions of selected liabilities associated with Orion Bank and Century Bank, FSB on November 13, 2009. Orion Bank was formerly headquartered in Naples, Florida, with 23 offices in the Florida MSAs of Naples, Ft. Myers, Key West, Miami-Ft. Lauderdale, and Bradenton-Sarasota. Century Bank was formerly headquartered in Sarasota, Florida, with 11 offices in the Florida MSAs of Bradenton-Sarasota and Miami-Ft. Lauderdale.

The Company recorded a $170 million pre-tax gain for the Orion Bank and Century Bank acquisitions under FAS141R in accordance with generally accepted accounting principles. The

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Company incurred one-time pre-tax acquisition-related costs of $7.9 million, or $0.25 per share on an after-tax basis during the fourth quarter of 2009.

The majority of assets acquired in each of the three FDIC-assisted transactions are covered under the loss sharing arrangements with the FDIC and loan valuations incorporate estimated losses. Based on current modeling, management estimates each of the three acquisitions will be accretive to earnings and EPS of the Company over the next few years.

• Capital Strength. At December 31, 2009, the Company reported a tangible common equity ratio of 7.35%, a Tier 1 leverage ratio of 9.90%, and a total risk based capital ratio of 13.50%. During the third quarter of 2009 the Company issued and sold 4,427,500 shares of common stock in an underwritten public offering for net proceeds of approximately $165 million.

• Asset Quality. The majority of assets acquired in all three FDIC-assisted transactions in 2009 are covered under FDIC loss sharing arrangements, and loan valuations incorporate estimated losses. As a result, a significant portion of the Company’s nonperforming assets have minimum loss exposure. Total Nonperforming Assets (“NPAs”) at December 31, 2009 were $1 billion which included $949 million in nonperforming assets covered under the FDIC loss sharing agreements (“covered assets”). Excluding the FDIC transactions, NPAs were $60 million, up $6 million, or 11%, on a linked quarter basis. The ratio of NPAs to total assets was 10.40% at December 31, 2009, and 0.91% excluding the FDIC transactions, compared to 0.93% on a similar basis at September 30, 2009 and 0.84% one year ago.

The Company reported net charge-offs totaling $2 million in the fourth quarter of 2009, or 0.18% of average loans on an annualized basis. On a similar basis, this figure compares to $23 million, or 2.26% of average loans, in the third quarter of 2009. The Company recorded a loan loss provision of $9 million, down 64% compared to $25 million on a linked quarter basis. The loan loss provision was elevated in the third quarter of 2009 primarily due to the higher charge-offs. The Company’s ratio of loan loss reserves to total loans was 0.96% at December 31, 2009 and 1.36% excluding the FDIC transactions, compared to 1.25% at September 30, 2009.

• Net Interest Margin. The Company’s tax-equivalent net interest margin (“margin”) improved 13 basis points on a linked quarter basis, from 3.02% in the third quarter of 2009 to 3.15% in the fourth quarter of 2009. The margin improvement was driven by a significant expansion in noninterest bearing deposits, favorable deposit pricing, strong loan growth, and improved competitive dynamics in many of the Company’s markets and businesses. Excluding the FDIC-assisted transactions, the Company’s net interest margin improved 24 basis points, to 3.26% at December 31, 2009.

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($ in thousands)	Reported 6/30/2009		CapitalSouth Acquisition *	3Q09 Organic Growth		Reported 9/30/2009		Orion Acquisition *	Century Acquisition *	4Q09 Organic Growth		Reported 12/31/2009
Assets
Investments	1,023,388		46,027	26,404		1,095,819		230,968	22,128	231,922		1,580,837
Loans	3,829,326		366,788	102,298		4,298,412		961,094	417,561	107,298		5,784,365
Allowance	(46,329	)	—	(2,462	)	(48,791	)	—	—	(6,977	)	(55,768	)
OREO	17,352		9,556	(3,947	)	22,961		28,505	21,150	1,475		74,091
Other Assets	878,890		188,152	31,924		1,098,966		1,141,120	351,170	(274,379	)	2,316,877
Total Assets	5,702,627		610,523	154,217		6,467,367		2,361,687	812,009	59,339		9,700,402
Liabilities
Deposits	4,172,895		517,153	85,685		4,775,733		1,883,087	615,815	281,513		7,556,148
L/T Borrowings	538,161		30,624	(42,679	)	526,106		344,689	143,006	(267,937	)	745,864
Other Liabilities	330,997		4,916	(20,966	)	314,947		61,176	21,453	46,599		444,175
Total Liabilities	5,042,053		552,693	22,040		5,616,786		2,288,952	780,274	60,175		8,746,187
Equity	660,574		57,830	132,177		850,581		72,735	31,735	(836	)	954,215
Liabs & Equity	5,702,627		610,523	154,217		6,467,367		2,361,687	812,009	59,339		9,700,402

* Unaudited. Derived from financial information furnished by the FDIC at acquisition. Subsequently revised to include fair value adjustments

Balance Sheet and Yields

Total assets increased $3.2 billion, or 50%, to $9.7 billion at December 31, 2009, and up $59 million, or 1%, excluding the FDIC acquisitions of Orion Bank and Century Bank. Over the last 10 years, the Company’s asset base grew at a 22% annual compounded growth rate. Total shareholders’ equity increased $104 million, or 12%, since September 30, 2009 and grew at a 10-year compounded annual rate of 23%. The Company’s market capitalization was $1.1 billion at year-end 2009 and climbed at a 10-year compounded annual growth rate of 28%.

Total investment securities increased $485 million, or 44%, to $1.6 billion during the fourth quarter of 2009, as the Company received cash associated with the FDIC-assisted transactions and excess cash was moved into the investment portfolio. As a percentage of total assets, the investment portfolio decreased from 18% at September 30, 2009 to 16% at December 31, 2009. Excluding the Orion Bank and Century Bank transactions, the investment portfolio had a modified duration of 3.0 years at December 31, 2009, up slightly compared to 2.8 years at September 30, 2009. Based on projected prepayment speeds and other assumptions at December 31, 2009, the portfolio was expected to generate approximately $357 million in cash flows, or about 27% of the portfolio, over the next 12 months. The average yield on investment securities decreased 21 basis points on a linked quarter basis, to 3.82% in the fourth quarter of 2009. The Company holds in its investment portfolio primarily government agency and municipal securities.

Loans

Since September 30, 2009, total loans increased $1.5 billion, or 35%, and $107 million, or 2%, excluding the FDIC-assisted transactions. Between the time of the acquisitions and December 31, 2009, Orion Bank and Century Bank-related loans decreased approximately $42 million, or 2%, which was consistent with the Company’s expectations. Over the last 10 years, total loans grew at a 21% compounded annual growth rate.

The loan portfolio is comprised of disparate components. Approximately 29% of the Company’s $5.8 billion loan portfolio is comprised of assets covered under the FDIC’s loss share agreements, which

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provide considerable protection against credit risk on those covered assets. Covered under the FDIC loss agreements were the acquired loan portfolios of CapitalSouth ($0.4 billion and 6% of total gross loans), Orion Bank ($1.8 billion and 26% of total gross loans), and Century Bank ($0.7 billion and 10% of total gross loans). In addition, the Company purchased these loans at an aggregate discount of $1.3 billion, or 42% of loans acquired and 18% of total gross loans). Finally, $4.1 billion in loans are associated with the legacy franchise, which were underwritten under the Company’s guidelines.

Period-End Loan Volumes ($ in Millions)

Loans	IBERIABANK															IBERIABANKfsb
	12/31/08			3/31/09			6/30/09			9/30/09			12/31/09			12/31/08			3/31/09			6/30/09			9/30/09			12/31/09			Since Acq.
Commercial	$	1,768		$	1,806		$	1,877		$	1,935		$	2,045		$	530		$	536		$	554		$	621		$	704		58	%
Consumer		672			673			686			687			680			239			233			234			236			234		-2	%
Mortgage		461			438			409			399			385			74			72			69			68			68		1	%
Non-FDIC Loans	$	2,901		$	2,917		$	2,972		$	3,021		$	3,110		$	843		$	841		$	857		$	925		$	1,006		33	%
Covered Loans										$	353		$	1,670
Total Loans										$	3,374		$	4,780
Non-FDIC Growth		4	%		1	%		2	%		14	%		3	%		0	%		0	%		2	%		8	%		9	%

On a linked quarter basis, the yield on average total loans increased 33 basis points to 5.56%. Yields on mortgage and consumer loans declined 54 and 60 basis points, respectively, on a linked quarter basis. Over this period, the yield on commercial loans increased 86 basis points.

The IBERIABANKfsbbuilder construction portfolio has declined to $9 million at December 31, 2009 (equal to only 0.2% of the Company’s consolidated total loan portfolio). The Company’s Louisiana C&D loans totaled $248 million, or 4.3% of total loans. The Louisiana C&D portfolio continues to perform well; only 0.91% of this portfolio was past due 30 days or more (1.53% at September 30, 2009).

The Company’s commercial real estate (“CRE”) loan portfolio is composed of four parts. First, a significant portion of the total CRE portfolio is covered under the loss share agreements with the FDIC. Second, much of the acquired CRE portfolio was purchased at substantial discounts from the FDIC that are expected to offset much of the remaining credit exposure and servicing costs. Third, a portion of the CRE portfolio is associated with the IBERIABANKfsb builder construction portfolio which has compressed significantly over the last two years. Finally, a portion of the CRE portfolio is comprised of legacy CRE loans, underwritten under the Company’s guidelines. At December 31, 2009, the average loan size in the legacy CRE portfolio was approximately $604,000, and loans past due 30 days or more (including nonaccruing loans) equated to 1.72% of the CRE loans outstanding (1.81% at September 30, 2009). Approximately 61% of the legacy CRE portfolio was based in southern Louisiana, 14% in northern Louisiana, and 24% in IBERIABANKfsb’s markets. At December 31, 2009, many of the local markets in southern Louisiana remained economically healthy compared to the national economy. Excluding construction-related credits and FDIC-related loans, at December 31, 2009, approximately 47% of the Company’s CRE portfolio was owner-occupied and 53% non-owner occupied. Non-owner occupied CRE loans equated to 104% of total risk based capital at December 31, 2009.

At December 31, 2009, approximately 42% of the Company’s consumer loan portfolio was covered under the FDIC loss share agreements. The remaining legacy consumer portfolio maintained favorable asset quality. The average credit score of the legacy consumer loan portfolio was 716, and loans past due 30 days or more were 1.32% at December 31, 2009 (compared to 0.86% at September 30, 2009). Legacy home equity loans totaled $342 million, with 1.38% past due 30 days or more (1.11% at September 30, 2009). Legacy home equity lines of credit totaled $196 million, with 0.98% past due 30 days or more (0.62% at September 30, 2009). Annualized net charge-offs in this portfolio were 0.66% of

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loans in the fourth quarter of 2009 (1.13% in the third quarter of 2009). The weighted average loan-to-value at origination for this portfolio over the last three years was approximately 70%.

The indirect automobile portfolio totaled $259 million at December 31, 2009, down 3% compared to September 30, 2009. This portfolio equated to 4% of total loans and had 1.19% in loans past due 30 days or more (including nonaccruing loans) at December 31, 2009 (1.05% at September 30, 2009). Annualized net charge-offs in the indirect loan portfolio equated to approximately 0.45% of average loans in the fourth quarter of 2009 (0.45% in the third quarter of 2009). Approximately 87% of the indirect automobile portfolio was in the Acadiana region of Louisiana, which currently experiences a relatively favorable unemployment rate.

Deposits

During the fourth quarter of 2009, total deposits increased $2.8 billion, or 58%, and $282 million, or 6%, excluding the FDIC transactions. Between the time of the acquisitions and January 27, 2010, Orion Bank and Century Bank-related deposits, excluding brokered deposits, decreased approximately $17 million, or 6%, which was more favorable than the Company’s expectations.

Period-End Deposit Volumes ($ in Millions)

Deposits	IBERIABANK															IBERIABANKfsb
	12/31/08			3/31/09			6/30/09			9/30/09			12/31/09			12/31/08			3/31/09			6/30/09			9/30/09			12/31/09			Since Acq.
Noninterest	$	465		$	452		$	451		$	501		$	832		$	156		$	129		$	126		$	128		$	153		59	%
NOW Accounts		615			747			750			764			1,038			206			205			198			195			203		5	%
Savings/MMkt		755			851			888			1,048			1,948			199			220			240			279			305		73	%
Time Deposits		1,006			1,009			1,014			1,356			2,589			593			520			507			504			488		-9	%
Total Deposits	$	2,842		$	3,059		$	3,103		$	3,669		$	6,407		$	1,154		$	1,074		$	1,071		$	1,105		$	1,149		14	%
Growth		5	%		8	%		1	%		18	%		75	%		-5	%		-7	%		0	%		3	%		4	%

Between September 30 and December 31, 2009, deposits at IBERIABANK increased $2.7 billion, or 75%, and $239 million, or 7% excluding Orion Bank and Century Bank. Deposits at IBERIABANKfsbincreased $44 million, or 4% over this same period.

Noninterest bearing deposits totaled $985 million at December 31, 2009, up $356 million, or 57%, compared to September 30, 2009. Excluding the FDIC-assisted transactions, noninterest bearing deposits climbed $138 million, or 22%, over this period. On a linked quarter basis, average noninterest bearing deposits increased $222 million, or 38%, and interest-bearing deposits increased $1.5 billion, or 39%. The rate on average interest bearing deposits in the fourth quarter of 2009 was 1.75%, a decrease of three basis points on a linked quarter basis, compared to a 19 basis point decline in the cost of average interest bearing liabilities. The Company had only $90 million in short-term borrowings at December 31, 2009, or approximately 1% of total liabilities.

Interest Rate Risk Position

The Company’s interest rate risk modeling at December 31, 2009 excluding the Orion Bank and Century Bank transactions indicated the Company is slightly asset sensitive over a 12-month time frame. A 100 basis point instantaneous and parallel upward shift in interest rates is estimated to increase net interest income over 12 months by approximately 1.3%. Similarly, a 100 basis point decrease in interest rates is expected to decrease net interest income by approximately 3.7%. At December 31, 2009, approximately 59% of the Company’s loan portfolio had fixed interest rates. Eliminating fixed rate loans that mature within a one-year time frame reduces this percentage to 55%. Approximately 75% of the

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Company’s time deposit base will re-price within 12 months from December 31, 2009. The rapid decline in short-term interest rates over the last few years and changes in the Company’s balance sheet mix have caused the Company’s interest rate risk position to become more asset sensitive over time.

Quarterly Average Yields/Cost (Taxable Equivalent Basis)

	IBERIABANK										IBERIABANKfsb
	4Q08		1Q09		2Q09		3Q09		4Q09		4Q08		1Q09		2Q09		3Q09		4Q09
Earning Asset Yield	5.60	%	4.92	%	4.91	%	4.65	%	4.64	%	5.37	%	5.41	%	5.29	%	4.79	%	4.89	%
Cost Of Int-Bearing Liabs	2.43	%	2.10	%	1.97	%	1.84	%	1.77	%	2.99	%	2.55	%	2.32	%	2.13	%	1.95	%
Net Interest Spread	3.17	%	2.82	%	2.94	%	2.81	%	2.87	%	2.37	%	2.86	%	2.97	%	2.66	%	2.94	%
Net Interest Margin	3.56	%	3.15	%	3.26	%	3.09	%	3.15	%	2.78	%	3.19	%	3.28	%	2.97	%	3.26	%

Operating Results

Tax-equivalent net interest income increased $17.2 million, or 41% on a linked quarter basis. Average earning assets increased $1.9 billion (up 34%) and the tax-equivalent net interest spread and margin improved 18 and 13 basis points, respectively, on a linked quarter basis. The average earning asset yield decreased two basis points. The Company’s excess liquidity position increased from approximately $250 million at September 30, 2009 to $342 million at December 31, 2009 ($261 million in Fed Funds Sold and $81 million in interest bearing cash). Interest bearing deposits and liabilities declined three and 19 basis points, respectively.

Aggregate noninterest income increased $115 million, or 143%, on a linked quarter basis. The primary changes on a linked quarter basis were (1) a $170 million gain on completion of the Orion Bank and Century Bank acquisitions in the fourth quarter compared to $57 million in the third quarter of 2009, (2) a $0.9 million gain on the sale of investment securities, and (3) a $0.5 million decline in title insurance income on a linked quarter basis.

The Company’s mortgage origination business experienced continued strength during the fourth quarter of 2009. The Company originated $351 million in mortgage loans during the fourth quarter of 2009, up $49 million, or 16%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 30% of mortgage loan originations in the fourth quarter of 2009, compared to 27% in the third quarter of 2009. The Company sold $335 million in mortgage loans during this period, down $5 million, or 1%, compared to the third quarter of 2009. Sales margins improved on a linked quarter basis. Gains on the sale of mortgage loans totaled $8.5 million in the fourth quarter of 2009, an increase of $1.2 million, or 17%, on a linked quarter basis. The mortgage pipeline was approximately $76 million at year-end 2009, and has since risen to a level of approximately $87 million at January 22, 2009. In recent weeks, loan refinancings accounted for approximately one-quarter of mortgage activity.

Noninterest expense increased $20.6 million, or 38%, on a linked quarter basis. A substantial portion of the increase in noninterest expense during the fourth quarter was associated with a goodwill impairment charge. The Company’s annual goodwill impairment tests determined a portion of the goodwill associated with the Company’s title insurance businesses was impaired by $9.7 million. A non-cash impairment charge was incurred for this amount during the fourth quarter of 2009. Other increases in expenses on a linked quarter basis were compensation (up $3.1 million), contract labor/temporary help (up $2.7 million), legal and professional (up $1.2 million), occupancy and equipment ($1.2 million), marketing and business development (up $1.1 million) and FDIC deposit insurance premium assessments (up $1.0 million). Partially offsetting those expense increases were reductions in OREO expense (down $3.9 million) and annual bonus accrual (down $1.9 million). One-time merger-related costs (included in some of the previously described expense categories) totaled $7.9 million in the fourth quarter of 2009, compared to $0.6 million in the third quarter. In aggregate, the combined tangible

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efficiency ratio of the Company’s bank subsidiaries was approximately 18.9% in the fourth quarter of 2009 (33.7% in the third quarter of 2009).

Basic net income to common shareholders in the fourth quarter of 2009 totaled $106 million, up 340% on a linked quarter basis. Return on average assets (“ROA”) was 5.29% for the fourth quarter of 2009, return on average common equity (“ROE”) was 46.94%, and return on average tangible common equity was 66.26%.

Asset Quality

The Company’s credit quality statistics were significantly affected by the FDIC-assisted acquisitions, though the loss share arrangements with the FDIC and discounts on the assets acquired should provide substantial protection against loss on those assets. Under the loss share agreements, the FDIC will cover 80% of the losses on the disposition of loans and OREO up to $970 million, or $776 million (the Company would cover the remaining $194 million amount). In addition, the FDIC will cover 95% of losses that exceed that $970 million threshold level. The Company estimates its maximum loss exposure will be approximately $297 million, assuming all loans experience 100% losses with no recoveries, over the loss share period. The Company received a discount of approximately $500 million on the purchase of assets in the transactions.

Excluding the FDIC-assisted transactions, NPAs and loans past due 30 days or more increased marginally during the fourth quarter of 2009 at both IBERIABANK and IBERIABANK fsb. The legacy Company had no troubled debt restructurings at December 31, 2009.

Summary Asset Quality Statistics

($thousands)	IBERIABANK									IBERIABANKfsb									IBERIABANK Corp.
	2Q09			3Q09*			4Q09**			2Q09			3Q09			4Q09			2Q09			3Q09*			4Q09**
Nonaccruals	$	14,110		$	13,600		$	11,899		$	14,409		$	22,655		$	27,947		$	28,519		$	36,256		$	39,847
OREO & Foreclosed		1,199			2,277			4,000			16,153			11,192			11,281			17,352			13,469			15,281
90+ Days Past Due		3,596			1,999			3,193			9,663			2,651			1,767			13,259			4,650			4,960
Nonperforming Assets	$	18,905		$	17,877		$	19,092		$	40,225		$	36,498		$	40,996		$	59,130		$	54,375		$	60,088
NPAs/Assets		0.45	%		0.42	%		0.38	%		2.78	%		2.43	%		2.68	%		1.04	%		0.93	%		0.91	%
NPAs/(Loans + OREO)		0.64	%		0.59	%		0.61	%		4.60	%		3.90	%		4.03	%		1.54	%		1.38	%		1.45	%
LLR/Loans		1.01	%		1.05	%		1.10	%		1.89	%		1.86	%		2.12	%		1.21	%		1.25	%		1.36	%
Net Charge-Offs/Loans		0.08	%		1.21	%		0.04	%		1.22	%		6.16	%		0.78	%		0.33	%		2.38	%		0.22	%

* Excludes the impact of the CapitalSouth acquisition

** Excludes the impact of all FDIC-assisted acquisitions

The FDIC-assisted transactions accounted for $949 million, or 94% of the Company’s $1 billion in total NPAs at December 31, 2009, and the legacy IBERIABANK Corporation franchise accounted for the remaining $60 million in NPAs. Excluding the FDIC-assisted transactions, NPAs equated to 0.91% of total assets at December 31, 2009, compared to 0.93% at September 30, 2009. On this same basis, total loans past due 30 days or more (including nonaccruing loans) represented 1.67% of total loans at December 31, 2009, up 25 basis points, compared to 1.42% of total loans at September 30, 2009.

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Loans Past Due

Loans Past Due 30 Days Or More And Nonaccruing Loans As % Of Loans Outstanding

By Entity:	9/30/08		12/31/08		3/31/09		6/30/09		9/30/09		12/31/09
IBERIABANK
30+ days past due	0.28	%	0.69	%	0.31	%	0.33	%	0.32	%	0.58	%
Non-accrual	0.21	%	0.22	%	0.54	%	0.47	%	0.45	%	0.38	%
Total Past Due	0.49	%	0.92	%	0.85	%	0.80	%	0.77	%	0.96	%
IBERIABANKfsb
30+ days past due	1.29	%	1.57	%	1.85	%	1.73	%	1.09	%	1.12	%
Non-accrual	2.42	%	2.53	%	2.12	%	1.68	%	2.45	%	2.78	%
Total Past Due	3.71	%	4.10	%	3.97	%	3.41	%	3.54	%	3.90	%
Consolidated (Ex-FDIC Covered Assets)
30+ days past due	0.52	%	0.89	%	0.65	%	0.64	%	0.50	%	0.71	%
Non-accrual	0.72	%	0.74	%	0.90	%	0.74	%	0.92	%	0.96	%
Total Past Due	1.24	%	1.63	%	1.55	%	1.38	%	1.42	%	1.67	%
CapitalSouth Only
30+ days past due									7.62	%	7.59	%
Non-accrual									24.64	%	29.68	%
Total Past Due									32.26	%	37.27	%
Orion Only
30+ days past due											16.55	%
Non-accrual											57.63	%
Total Past Due											74.18	%
Century Only
30+ days past due											10.52	%
Non-accrual											52.88	%
Total Past Due											63.40	%
Consolidated With FDIC Covered Assets
30+ days past due									1.08	%	4.35	%
Non-accrual									2.87	%	15.33	%
Total Past Due									3.95	%	19.68	%

At December 31, 2009, the allowance for loan losses was 0.96%, down compared to 1.14% at September 30, 2009. In accordance with generally accepted accounting principles, the assets acquired in the FDIC-assisted transactions were marked to market at consummation, including estimated loan impairment. As a result, no loan loss reserves are expected on these loans at this time. Excluding the acquired loans, the Company’s ratio of loan loss reserves to loans increased from 1.24% at September 30, 2009 to 1.36% at December 31, 2009.

The Company reported net charge-offs of $2 million in the fourth quarter of 2009, compared to $23 million in the third quarter of 2009. The ratio of net charge-offs to average loans was 0.18% in the fourth quarter of 2009, compared to 2.26% in the third quarter of 2009. The elevated charge-offs in the third quarter were primarily due to valuations on appraisals of collateral securing certain loans, the Company’s credit portfolio management process, general economic conditions, and other third quarter factors. The Company recorded a $9 million loan loss provision in the fourth quarter of 2009, compared

8

to $25 million in the third quarter of 2009. Management considers the loan loss reserve adequate to absorb credit losses inherent in the loan portfolio at December 31, 2009.

Capital Position

The Company maintains strong capital ratios compared to peers. The equity-to-assets ratio was 9.84% at December 31, 2009, compared to 13.15% at each of September 30, 2009 and December 31, 2008. At December 31, 2009, the Company reported a tangible common equity ratio of 7.35%, compared to 9.59% at September 30, 2009 and 7.23% one year ago. The Company’s Tier 1 leverage ratio was 9.90%, compared to 11.54% at September 30, 2009 and 11.27% one year ago. The Company’s total risk based capital ratio was 13.50%, compared to 16.83% at September 30, 2009 and 15.69% one year ago. The Company’s tangible common equity to risk weighted assets ratio was 14.49%, compared to 13.38% at September 30, 2009, and 9.48% one year ago.

In July 2009, the Company issued and sold 4,427,500 shares of common stock for net proceeds of approximately $165 million in a public underwritten equity offering. Shares were sold in the offering at a price of $39.00 per share.

Regulatory Capital Ratios

At December 31, 2009

Capital Ratio	Well Capitalized		IBERIABANK		IBERIABANK fsb		IBERIABANK Corporation
Tier 1 Leverage	5.00	%	8.40	%	10.25	%	9.90	%
Tier 1 Risk Based	6.00	%	10.73	%	12.81	%	12.23	%
Total Risk Based	10.00	%	11.89	%	14.04	%	13.50	%

At December 31, 2009, book value per share was $46.04, up $4.63, or 11%, compared to September 30, 2009, and up 14% compared to one year ago. Tangible book value per share improved $4.64, or 16%, over that period to $33.53, and up 39% compared to one year ago.

On December 14, 2009, the Company declared a quarterly cash dividend of $0.34 per share. This dividend level equated to an annualized dividend rate of $1.36 per share and an indicated dividend yield of 2.46%, based on the closing stock price of the Company’s common stock on January 27, 2009 of $55.32 per share. Based on that closing stock price, the Company’s common stock traded at a price-to-earnings ratio of 6.9 times $8.03 per fully diluted EPS for 2009. This price equated to 1.20 times December 31, 2009 book value per share of $46.04 and 1.65 times tangible book value per share of $33.53.

IBERIABANK Corporation

IBERIABANK Corporation is a multi-bank financial holding company with 209 combined offices, including 136 bank branch offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 26 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 47 locations in 12 states. The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC” and the Company’s market capitalization is approximately $1.2 billion, based on the closing stock price on January 27, 2009.

9

The following twelve investment firms currently provide equity research coverage on IBERIABANK Corporation:

• B. Riley & Company

• FIG Partners, LLC

• Howe Barnes Hoefer & Arnett, Inc.

• Keefe, Bruyette & Woods

• Raymond James & Associates, Inc.

• Robert W. Baird & Company

• Soleil Securities Corporation/Tenner Investment Research

• Stephens, Inc.

• Sterne, Agee & Leach

• Stifel Nicolaus & Company

• SunTrust Robinson-Humphrey

• Wunderlich Securities

Conference Call

In association with this earnings release, the Company will host a live conference call to discuss the financial results for the quarter just completed. The telephone conference call will be held on Thursday, January 28, 2010, beginning at 8:00 a.m. Central Time by dialing 1-800-288-8961. The confirmation code for the call is 141829. A replay of the call will be available until midnight Central Time on February 4, 2010 by dialing 1-800-475-6701. The confirmation code for the replay is 141829. The Company has prepared a PowerPoint presentation that supplements information contained in this press release. The PowerPoint presentation may be accessed on the Company’s web site,www.iberiabank.com, under “Investor Relations” and then “Presentations.”

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or nonrecurring transactions. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of GAAP to non-GAAP disclosures are included as tables at the end of this release.

Forward Looking Statements

To the extent that statements in this press release relate to future plans, objectives, financial results or performance of IBERIABANK Corporation, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which are based on management’s current information, estimates and assumptions and the current economic environment, are generally identified by the use of the words “plan”, “believe”, “expect”,

10

“intend”, “anticipate”, “estimate”, “project” or similar expressions. IBERIABANK Corporation’s actual strategies and results in future periods may differ materially from those currently expected due to various risks and uncertainties.

Actual results could differ materially because of factors such as the current level of market volatility and our ability to execute our growth strategy, unanticipated losses related to the integration of acquired businesses and assets and assumed liabilities in FDIC-assisted transactions, adjustments of fair values of acquired assets and assumed liabilities and of deferred taxes in FDIC-assisted acquisitions, credit risk of our customers, effects of the on-going correction in residential real estate prices and reduced levels of home sales, sufficiency of our allowance for loan losses, changes in interest rates, access to funding sources, reliance on the services of executive management, competition for loans, deposits and investment dollars, reputational risk and social factors, changes in government regulations and legislation, increases in FDIC insurance assessments, geographic concentration of our markets, rapid changes in the financial services industry, dependence on our operational, technological, and organizational infrastructure, hurricanes and other adverse weather events, the volatility of our common stock, and valuation of intangible assets. These and other factors that may cause actual results to differ materially from these forward-looking statements are discussed in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, available at the SEC’s website,www.sec.gov, and the Company’s website,www.iberiabank.com. All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

11

IBERIABANK CORPORATION

FINANCIAL HIGHLIGHTS

	For The Quarter Ended December 31,								For The Quarter Ended September 30,
	2009			2008			% Change		2009			% Change
Income Data (in thousands):
Net Interest Income	$	57,556		$	37,167		55	%	$	40,666		42	%
Net Interest Income (TE) (1)		59,452			38,417		55	%		42,297		41	%
Net Income		108,902			8,276		1216	%		24,729		340	%
Earnings Available to Common Shareholders - Basic		108,902			7,928		1274	%		24,729		340	%
Earnings Available to Common Shareholders - Diluted		106,185			7,716		1276	%		24,126		340	%
Per Share Data:
Earnings Available to Common Shareholders - Basic	$	5.27		$	0.58		808	%	$	1.22		332	%
Earnings Available to Common Shareholders - Diluted		5.23			0.57		818	%		1.21		332	%
Book Value Per Common Share		46.04			40.53		14	%		41.41		11	%
Tangible Book Value Per Common Share (2)		33.53			24.20		39	%		28.89		16	%
Cash Dividends		0.34			0.34		—			0.34		—
Number of Shares Outstanding:
Basic Shares (Average)		20,617,155			13,650,667		51	%		20,253,317		2	%
Diluted Shares (Average)		20,301,633			13,537,539		50	%		19,944,420		2	%
Book Value Shares (Period End)(3)		20,797,218			15,900,820		31	%		20,623,541		1	%
Key Ratios:(4)
Return on Average Assets		5.29	%		0.62	%				1.60	%
Return on Average Common Equity		46.94	%		5.80	%				11.66	%
Return on Average Tangible Common Equity(2)		66.26	%		11.74	%				17.10	%
Net Interest Margin (TE)(1)		3.15	%		3.17	%				3.02	%
Efficiency Ratio		29.6	%		70.5	%				44.9	%
Tangible Efficiency Ratio (TE)(1) (2)		28.9	%		67.4	%				43.6	%
Average Loans to Average Deposits		82.1	%		92.4	%				91.0	%
Nonperforming Assets to Total Assets(5)		10.40	%		0.84	%				2.33	%
Allowance for Loan Losses to Loans		0.96	%		1.09	%				1.14	%
Net Charge-offs to Average Loans		0.18	%		0.53	%				2.25	%
Average Equity to Average Total Assets		11.24	%		10.71	%				13.67	%
Tier 1 Leverage Ratio		9.90	%		11.27	%				11.54	%
Common Stock Dividend Payout Ratio		6.5	%		68.2	%				28.4	%
Tangible Common Equity Ratio		7.35	%		7.23	%				9.59	%
Tangible Common Equity to Risk-Weighted Assets		14.49	%		9.48	%				13.38	%

⁽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.

⁽³⁾ Shares used for book value purposes exclude shares held in treasury at the end of the period.

⁽⁴⁾ All ratios are calculated on an annualized basis for the period indicated.

⁽⁵⁾ Nonperforming assets consist of nonaccruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

BALANCE SHEET (End of Period)

	December 31,								September 30, 2009
	2009			2008			% Change
ASSETS
Cash and Due From Banks	$	94,674		$	159,716		(40.7	)%	$	66,579
Interest-bearing Deposits in Banks		80,723			186,149		(56.6	)%		273,982
Total Cash and Equivalents		175,397			345,865		(49.3	)%		340,561
Investment Securities Available for Sale		1,320,476			828,743		59.3	%		1,024,868
Investment Securities Held to Maturity		260,361			60,733		328.7	%		70,951
Total Investment Securities		1,580,837			889,476		77.7	%		1,095,819
Mortgage Loans Held for Sale		66,945			63,503		5.4	%		52,796
Loans, Net of Unearned Income		5,784,365			3,744,402		54.5	%		4,298,412
Allowance for Loan Losses		(55,768	)		(40,872	)	36.4	%		(48,791	)
Loans, net		5,728,597			3,703,530		54.7	%		4,249,621
Loss Share Receivable		1,034,734			—		100.0	%		88,093
Premises and Equipment		137,426			131,404		4.6	%		130,453
Goodwill and Other Intangibles		260,144			259,683		0.2	%		258,186
Mortgage Servicing Rights		229			188		22.2	%		219
Other Assets		716,093			189,577		277.7	%		251,619
Total Assets	$	9,700,402		$	5,583,226		73.7	%	$	6,467,367
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	985,253		$	620,637		58.7	%	$	628,800
Interest-bearing Deposits		6,570,895			3,375,179		94.7	%		4,146,933
Total Deposits		7,556,148			3,995,816		89.1	%		4,775,733
Short-term Borrowings		90,000			58,000		55.2	%		15,000
Securities Sold Under Agreements to Repurchase		173,351			150,213		15.4	%		193,234
Long-term Debt		745,864			568,479		31.2	%		526,106
Other Liabilities		180,824			76,510		136.3	%		106,713
Total Liabilities		8,746,187			4,849,018		80.4	%		5,616,786
Total Shareholders’ Equity		954,215			734,208		30.0	%		850,581
Total Liabilities and Shareholders’ Equity	$	9,700,402		$	5,583,226		73.7	%	$	6,467,367

INCOME STATEMENT

	For The Three Months Ended December 31,								For The Twelve Months Ended December 31,
	2009			2008			% Change		2009			2008			% Change
Interest Income	$	85,538		$	65,074		31.4	%	$	270,387		$	263,827		2.5	%
Interest Expense		27,982			27,907		0.3	%		97,602			126,183		(22.7	)%
Net Interest Income		57,556			37,167		54.9	%		172,785			137,644		25.5	%
Provision for Loan Losses		9,260			6,206		49.2	%		45,370			12,568		261.0	%
Net Interest Income After Provision for Loan Losses		48,296			30,961		56.0	%		127,415			125,076		1.9	%
Service Charges		6,253			5,851		6.9	%		22,986			23,025		(0.2	)%
ATM / Debit Card Fee Income		2,340			1,804		29.7	%		7,975			6,820		16.9	%
BOLI Proceeds and Cash Surrender Value Income		729			679		7.5	%		2,892			2,966		(2.5	)%
Gain on Acquisition		169,872			—		100.0	%		227,342			—		100.0	%
Gain on Sale of Loans, net		8,506			4,292		98.2	%		35,108			25,295		38.8	%
Gain (Loss) on Sale of Investments, net		878			525		67.3	%		6,736			1,137		492.2	%
Title Revenue		4,127			3,806		8.4	%		18,476			19,003		(2.8	)%
Broker Commissions		1,048			1,156		(9.4	)%		4,592			5,528		(16.9	)%
Other Noninterest Income		2,600			2,275		14.3	%		6,879			8,158		(15.7	)%
Total Noninterest Income		196,353			20,388		863.1	%		332,986			91,932		262.2	%
Salaries and Employee Benefits		34,339			22,362		53.6	%		114,379			88,971		28.6	%
Occupancy and Equipment		7,068			5,702		23.9	%		24,337			23,294		4.5	%
Amortization of Acquisition Intangibles		1,022			684		49.5	%		2,893			2,408		20.1	%
Other Noninterest Expense		32,685			11,804		176.9	%		81,651			46,553		75.4	%
Total Noninterest Expense		75,114			40,552		85.2	%		223,260			161,226		38.5	%
Income Before Income Taxes		169,535			10,797		(1470.2	)%		237,141			55,782		325.1	%
Income Taxes		60,633			2,521		(2304.7	)%		85,891			15,870		441.2	%
Net Income	$	108,902		$	8,276		(1215.9	)%	$	151,250		$	39,912		279.0	%
Preferred Stock Dividends		—			(348	)	0.0	%		(3,350	)		(348	)	100.0	%
Earnings Available to Common Shareholders - Basic		108,902			7,928		(1273.7	)%		147,900			39,564		273.8	%
Earnings Allocated to Unvested Restricted Stock		(2,717	)		(212	)	1184.5	%		(3,733	)		(905	)	312.5	%
Earnings Available to Common Shareholders - Diluted		106,185			7,716		1276.1	%		144,167			38,659		272.9	%
Earnings Per Share, diluted	$	5.23		$	0.57		817.6	%	$	8.03		$	2.96		170.8	%

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

BALANCE SHEET (Average)

	For The Quarter Ended
	December 31, 2009			September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008
ASSETS
Cash and Due From Banks	$	75,435		$	59,975		$	78,939		$	78,204		$	77,896
Interest-bearing Deposits in Banks		305,371			299,591			61,115			130,584			106,618
Investment Securities		1,327,579			1,074,896			1,033,274			995,766			889,983
Mortgage Loans Held for Sale		58,785			60,350			89,298			81,910			44,841
Loans, Net of Unearned Income		5,070,584			4,049,351			3,788,273			3,743,032			3,662,020
Allowance for Loan Losses		(49,442	)		(45,711	)		(42,970	)		(40,711	)		(39,640	)
Loss Share Receivable		590,804			38,784			—			—			—
Other Assets		787,488			592,455			585,016			583,373			583,147
Total Assets	$	8,166,604		$	6,129,691		$	5,592,945		$	5,572,158		$	5,324,865
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	804,918		$	583,229		$	570,298		$	554,269		$	575,738
Interest-bearing Deposits		5,368,692			3,864,927			3,558,739			3,461,866			3,388,765
Total Deposits		6,173,610			4,448,156			4,129,037			4,016,135			3,964,503
Short-term Borrowings		31,054			2,174			22,489			45,760			32,367
Securities Sold Under Agreements to Repurchase		188,339			210,115			149,664			141,186			138,763
Long-term Debt		681,789			536,877			541,557			552,838			567,562
Other Liabilities		174,133			94,189			86,819			72,430			51,473
															��
Total Liabilities		7,248,925			5,291,511			4,929,566			4,828,349			4,754,668
Total Shareholders’ Equity		917,679			838,180			663,379			743,809			570,197
Total Liabilities and Shareholders’ Equity	$	8,166,604		$	6,129,691		$	5,592,945		$	5,572,158		$	5,324,865

INCOME STATEMENT

	2009												2008
	Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Fourth Quarter
Interest Income	$	85,538		$	63,554		$	60,974		$	60,321		$	65,074
Interest Expense		27,982			22,888			22,698			24,034			27,907
Net Interest Income		57,556			40,666			38,276			36,287			37,167
Provision for Loan Losses		9,260			25,295			7,783			3,032			6,206
Net Interest Income After Provision for Loan Losses		48,296			15,371			30,493			33,255			30,961
Total Noninterest Income		196,353			80,874			32,030			23,730			20,388
Total Noninterest Expense		75,114			54,540			49,814			43,792			40,552
Income Before Income Taxes		169,535			41,705			12,709			13,193			10,797
Income Taxes		60,633			16,976			4,235			4,048			2,521
Net Income	$	108,902		$	24,729		$	8,474		$	9,145		$	8,276
Preferred Stock Dividends		—			—			—			(3,350	)		(348	)
Earnings Available to Common Shareholders - Basic	$	108,902		$	24,729		$	8,474		$	5,795		$	7,928
Earnings Allocated to Unvested Restricted Stock		(2,717	)		(603	)		(250	)		(169	)		(212	)
Earnings Available to Common Shareholders - Diluted	$	106,185		$	24,126		$	8,224		$	5,626		$	7,716
Earnings Per Share, basic	$	5.27		$	1.22		$	0.53		$	0.36		$	0.58
Earnings Per Share, diluted	$	5.23		$	1.21		$	0.52		$	0.36		$	0.57
Book Value Per Share	$	46.04		$	41.41		$	41.13		$	40.98		$	40.53
Return on Average Assets		5.29	%		1.60	%		0.61	%		0.68	%		0.62	%
Return on Average Common Equity		46.94	%		11.66	%		5.11	%		3.59	%		5.80	%
Return on Average Tangible Common Equity		66.26	%		17.10	%		8.75	%		6.35	%		11.74	%

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

LOANS RECEIVABLE	December 31,								September 30,
	2009			2008			% Change		2009
Residential Mortgage Loans:
Residential 1-4 Family	$	975,395		$	498,740		95.6	%	$	514,111
Construction/ Owner Occupied		32,857			36,693		(10.5	)%		19,737
Total Residential Mortgage Loans		1,008,252			535,433		88.3	%		533,848
Commercial Loans:
Real Estate		2,499,843			1,522,965		64.1	%		1,817,634
Business		1,218,014			775,625		57.0	%		1,005,862
Total Commercial Loans		3,717,857			2,298,590		61.7	%		2,823,496
Consumer Loans:
Indirect Automobile		259,339			265,722		(2.4	)%		267,801
Home Equity		649,821			501,036		29.7	%		523,227
Automobile		30,552			28,464		7.3	%		30,782
Credit Card Loans		44,561			38,014		17.2	%		42,527
Other		73,983			77,143		(4.1	)%		76,731
Total Consumer Loans		1,058,256			910,379		16.2	%		941,068
Total Loans Receivable		5,784,365			3,744,402		54.5	%		4,298,412
Allowance for Loan Losses		(55,768	)		(40,872	)				(48,791	)
Loans Receivable, Net	$	5,728,597		$	3,703,530				$	4,249,621

ASSET QUALITY DATA	December 31,								September 30,
	2009			2008			% Change		2009
Nonaccrual Loans	$	890,993		$	27,825		3102.2	%	$	123,304
Foreclosed Assets		35			38		(6.2	)%		55
Other Real Estate Owned		74,056			16,274		355.1	%		22,906
Accruing Loans More Than 90 Days Past Due		43,952			2,481		1671.6	%		4,698
Total Nonperforming Assets	$	1,009,036		$	46,618		2064.5	%	$	150,963
Nonperforming Assets to Total Assets		10.40	%		0.83	%	1160.3	%		2.33	%
Nonperforming Assets to Total Loans and OREO		17.22	%		1.24	%	1289.5	%		3.49	%
Allowance for Loan Losses to Nonperforming Loans(1)		6.0	%		134.9	%	(95.6	)%		38.1	%
Allowance for Loan Losses to Nonperforming Assets		5.5	%		87.7	%	(93.7	)%		32.3	%
Allowance for Loan Losses to Total Loans		0.96	%		1.09	%	(11.7	)%		1.14	%
Year to Date Charge-offs	$	33,267		$	12,882		158.2	%	$	29,892
Year to Date Recoveries		(2,646	)		(2,900	)	(8.8	)%		(1,554	)
Year to Date Net Charge-offs	$	30,621		$	9,982		206.8	%	$	28,338
Quarter to Date Net Charge-offs	$	2,283		$	4,885		(53.3	)%	$	22,980

⁽¹⁾ Nonperforming loans consist of nonaccruing loans and accruing loans 90 days or more past due.

DEPOSITS	December 31,						September 30,
	2009		2008		% Change		2009
Noninterest-bearing Demand Accounts	$	985,253	$	620,637	58.7	%	$	628,800
NOW Accounts		1,241,241		821,649	51.1	%		959,041
Savings and Money Market Accounts		2,253,065		954,408	136.1	%		1,326,202
Certificates of Deposit		3,076,589		1,599,122	92.4	%		1,861,690
Total Deposits	$	7,556,148	$	3,995,816	89.1	%	$	4,775,733

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)

	For The Quarter Ended
	December 31, 2009					September 30, 2009					December 31, 2008
	Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	875,454		5.06	%	$	501,196		5.60	%	$	529,449		5.80	%
Commercial Loans (TE)(1)		3,134,273		5.61	%		2,614,911		4.75	%		2,222,997		5.40	%
Consumer and Other Loans		1,060,857		5.82	%		933,244		6.42	%		909,574		6.85	%
Total Loans		5,070,584		5.56	%		4,049,351		5.23	%		3,662,020		5.83	%
Mortgage Loans Held for Sale		58,785		4.75	%		60,350		4.72	%		44,841		5.77	%
Investment Securities (TE)(1)(2)		1,265,385		3.82	%		1,040,275		4.03	%		886,132		5.07	%
Other Earning Assets		1,030,554		0.18	%		380,080		0.28	%		185,657		0.87	%
Total Earning Assets		7,425,308		4.64	%		5,530,056		4.66	%		4,778,650		5.49	%
Allowance for Loan Losses		(49,442	)				(45,711	)				(39,640	)
Nonearning Assets		790,738					645,346					585,855
Total Assets	$	8,166,604				$	6,129,691				$	5,324,865
LIABILITIES AND SHAREHOLDERS’EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts	$	1,083,574		0.76	%	$	945,141		0.77	%	$	792,032		1.13	%
Savings and Money Market Accounts		1,806,497		1.48	%		1,222,273		1.31	%		979,841		1.76	%
Certificates of Deposit		2,478,621		2.37	%		1,697,513		2.69	%		1,616,892		3.54	%
Total Interest-bearing Deposits		5,368,692		1.75	%		3,864,927		1.78	%		3,388,765		2.46	%
Short-term Borrowings		219,394		0.46	%		212,289		0.68	%		171,130		1.10	%
Long-term Debt		681,789		2.33	%		536,877		3.75	%		567,562		4.47	%
Total Interest-bearing Liabilities		6,269,875		1.77	%		4,614,093		1.96	%		4,127,457		2.67	%
Noninterest-bearing Demand Deposits		804,918					583,229					575,738
Noninterest-bearing Liabilities		174,132					94,189					51,473
Total Liabilities		7,248,925					5,291,511					4,754,668
Shareholders’ Equity		917,679					838,180					570,197
Total Liabilities and Shareholders’ Equity	$	8,166,604				$	6,129,691				$	5,324,865
Net Interest Spread	$	57,556		2.87	%	$	40,666		2.69	%	$	37,167		2.82	%
Tax-equivalent Benefit		1,896		0.09	%		1,631		0.12	%		1,250		0.10	%
Net Interest Income (TE) / Net Interest Margin (TE)(1)	$	59,452		3.15	%	$	42,297		3.02	%	$	38,417		3.17	%

⁽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⁾ Balances exclude unrealized gain or loss on securities available for sale and impact of trade date accounting.

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)

	For The Twelve Months Ended
	December 31, 2009					December 31, 2008
	Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	598,237		5.42	%	$	554,943		5.88	%
Commercial Loans (TE)(1)		2,614,425		4.97	%		2,113,145		5.68	%
Consumer and Other Loans		953,474		6.32	%		867,715		7.12	%
Total Loans		4,166,136		5.35	%		3,535,803		6.07	%
Mortgage Loans Held for Sale		72,489		4.76	%		59,551		5.83	%
Investment Securities (TE)(1)(2)		1,070,701		4.20	%		876,380		5.08	%
Other Earning Assets		423,743		0.27	%		188,694		2.28	%
Total Earning Assets		5,733,069		4.79	%		4,660,428		5.72	%
Allowance for Loan Losses		(44,735	)				(39,138	)
Nonearning Assets		683,481					585,074
Total Assets	$	6,371,815				$	5,206,364
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts	$	971,990		0.82	%	$	817,708		1.48	%
Savings and Money Market Accounts		1,286,254		1.44	%		937,026		2.13	%
Certificates of Deposit		1,809,992		2.72	%		1,604,973		4.01	%
Total Interest-bearing Deposits		4,068,236		1.86	%		3,359,707		2.87	%
Short-term Borrowings		197,824		0.66	%		205,120		2.14	%
Long-term Debt		578,505		3.51	%		554,288		4.50	%
Total Interest-bearing Liabilities		4,844,565		2.01	%		4,119,115		3.05	%
Noninterest-bearing Demand Deposits		628,742					509,769
Noninterest-bearing Liabilities		107,137					49,314
Total Liabilities		5,580,444					4,678,198
Shareholders’ Equity		791,371					528,166
Total Liabilities and Shareholders’ Equity	$	6,371,815				$	5,206,364
Net Interest Spread	$	172,785		2.78	%	$	137,644		2.67	%
Tax-equivalent Benefit		6,282		0.11	%		4,902		0.10	%
Net Interest Income (TE) / Net Interest Margin (TE)(1)	$	179,067		3.09	%	$	142,546		3.03	%

⁽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⁾ Balances exclude unrealized gain or loss on securities available for sale and impact of trade date accounting.

IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(dollars in thousands)

	For The Quarter Ended
	12/31/2009			9/30/2009			12/31/2008
Net Interest Income	$	57,556		$	40,666		$	37,167
Effect of Tax Benefit on Interest Income		1,896			1,631			1,250
Net Interest Income (TE)(1)		59,452			42,297			38,417
Noninterest Income		196,353			80,874			20,388
Effect of Tax Benefit on Noninterest Income		393			393			365
Noninterest Income (TE)(1)		196,746			81,267			20,753
Total Revenues (TE)(1)	$	256,198		$	123,564		$	59,170
Total Noninterest Expense	$	75,114		$	54,540		$	40,552
Less Intangible Amortization Expense		(1,022	)		(627	)		(684	)
Tangible Operating Expense(2)	$	74,092		$	53,913		$	39,868
Return on Average Common Equity		46.94	%		11.66	%		5.80	%
Effect of Intangibles(2)		19.32	%		5.44	%		5.94	%
Return on Average Tangible Common Equity(2)		66.26	%		17.10	%		11.74	%
Efficiency Ratio		29.6	%		44.9	%		70.5	%
Effect of Tax Benefit Related to Tax Exempt Income		(0.3	)%		(0.8	)%		(1.9	)%
Efficiency Ratio (TE)(1)		29.3	%		44.1	%		68.6	%
Effect of Amortization of Intangibles		(0.4	)%		(0.5	)%		(1.2	)%
Tangible Efficiency Ratio (TE)(1) (2)		28.9	%		43.6	%		67.4	%

⁽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.