Iberiabank 8K oration Reports Results For First Quarter | IBKC 21 Apr 10

Exhibit 99.1

LOGO

FOR IMMEDIATE RELEASE

April 20, 2010

Contact:

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

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

IBERIABANK Corporation Reports Results For First Quarter

LAFAYETTE, LOUISIANA — IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 123-year-old IBERIABANK (www.iberiabank.com) and IBERIABANKfsb (www.IBERIABANKfsb.com), announced income available to common shareholders of $13 million for the quarter ended March 31, 2010, a decrease of 88% compared to the fourth quarter of 2009 (“linked quarter basis”), and an increase of 127% compared to the same quarter last year. Fully diluted earnings per share (“EPS”) were $0.59 in the first quarter of 2010, a decrease of 89% on a linked quarter basis compared to the fourth quarter of 2009, and an increase of 64% compared to the same quarter last year. According to First Call, the consensus analyst EPS estimate for the Company for the first quarter of 2010 was $0.65.

Daryl G. Byrd, President and Chief Executive Officer commented, “The assimilation of our FDIC-assisted acquisitions continues to progress on target. Client reaction at the failed bank franchises since the acquisitions has been very favorable, and we experienced exceptional deposit growth in our legacy franchise during the first quarter as well.” Byrd continued, “We have made substantial investments over the last two years in our new markets, strategic initiatives, infrastructure support, and balance sheet strength to capitalize on what we believe are once-in-a-lifetime opportunities. These investments have required near-term costs, but we believe our efforts will result in significant long-term benefits for our shareholders as these opportunities continue to be achieved.”

Significant Influences on the Quarter Ended March 31, 2010

•

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 in the fourth quarter of 2009. During that quarter, the Company recorded a $170 million pre-tax gain for the acquisitions under FAS141R and incurred one-time pre-tax acquisition-related costs of $8 million, or $0.25 per share on an after-tax basis.

In the first quarter of 2010, the Company recorded a $4 million pre-tax gain ($0.11 per share on an after-tax basis) related to additional FDIC settlement items and incurred one-time pre-tax acquisition-related costs of $2 million, or $0.07 per share on an after-tax basis.

•

Capital Strength. On March 8, 2010, the Company issued and sold 5,973,207 shares of common stock in an underwritten public offering at a price of $57.75 per share for net proceeds of $329 million. At March 31, 2010, the Company reported a tangible common equity ratio of 10.19%, a Tier 1 leverage ratio of 11.64%, and a total risk based capital ratio of 19.82%. At March 31, 2010, the Company had one of the highest capital ratios for publicly traded bank holding companies with assets in excess of $5 billion.

•

Asset Quality. The majority of assets acquired in the 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 March 31, 2010 were $926 million which included $853 million in NPAs covered under the FDIC loss sharing agreements (“covered assets”). Excluding the FDIC-assisted transactions, NPAs at March 31, 2010 were $73 million, or 1.01% of total assets, compared to 0.91% at year-end 2009 and 0.95% one year ago.

The Company reported net charge-offs totaling $5 million in the first quarter of 2010, or 0.36% of average loans on an annualized basis. On a similar basis, this figure compared to $2 million, or 0.18% of average loans, in the fourth quarter of 2009. The Company recorded a loan loss provision of $13 million, up 43% compared to $9 million on a linked quarter basis. The loan loss provision was elevated in the first quarter of 2010 primarily due to (1) two previously disclosed commercial relationships and (2) $8 million in additional reserves in excess of net charge-offs in the first quarter of 2010. The ratio of loan loss reserves to total loans was 1.11% at March 31, 2010, compared to 0.96% at December 31, 2009. Excluding the FDIC-assisted transactions, the loan loss reserve ratio was 1.53% at March 31, 2010, compared to 1.36% at December 31, 2009.

•

Net Interest Margin and Liquidity. The Company’s tax-equivalent net interest margin (“margin”) improved one basis point on a linked quarter basis to 3.16% in the first quarter of 2010. The Company reported an average excess liquidity position during the first quarter of 2010 of approximately $543 million due to FDIC loan pay-downs and charge-offs, deposit growth, and proceeds of the equity offering. On a period-end basis, excess cash increased from $342 million at year-end 2009 to $1.1 billion at March 31, 2010. The aggregate excess cash position suppressed the margin approximately 33 basis points in the first quarter of 2010.

Balance Sheet and Yields

Total assets increased $692 million, or 7% since year-end 2009, to $10.4 billion at March 31, 2010. Total shareholders’ equity increased $338 million, or 35%, since December 31, 2009. The Company’s market capitalization was $1.6 billion at March 31, 2010, up 43% compared to year-end 2009.

Investments

Total investment securities decreased $42 million, or 3%, to $1.5 billion during the first quarter of 2010. As a percentage of total assets, the investment portfolio decreased from 16% at December 31, 2009 to 15% at March 31, 2010. The investment portfolio had a modified duration of 2.8 years at March 31, 2010, unchanged compared to year-end 2009. Based on projected prepayment speeds and other assumptions at March 31, 2010, the portfolio was expected to generate approximately $330 million in cash flows, or about 22% of the portfolio, over the next nine months. The average yield on investment securities decreased 43 basis points on a linked quarter basis, to 3.39% in the first quarter of 2010. The Company holds in its investment portfolio primarily government agency and municipal securities.

Loans

Since December 31, 2009, total loans decreased $45 million, or less than 1%. Excluding the FDIC-assisted transactions, loans increased $62 million, or 1%, over that period. Between the time of the acquisitions and March 31, 2010, Orion Bank and Century Bank-originated loans decreased approximately $122 million, or 9%, which was greater than the Company’s expectations at closing.

The loan portfolio at March 31, 2010, was comprised of disparate components. Approximately 27% of the Company’s $5.7 billion loan portfolio is comprised of assets covered under the FDIC’s loss share agreements, which provide considerable protection against credit risk on those covered assets.

The remaining, $4.2 billion in loans at March 31, 2010, were associated with the Company’s legacy franchise, which were underwritten under the Company’s guidelines.

Period-End Loan Volumes ($ in Millions)


Loans	IBERIABANK															*IBERIABANKfsb***
	3/31/09			6/30/09			9/30/09			12/31/09			3/31/10			3/31/09			6/30/09			9/30/09			12/31/09			3/31/10			Since Acq.
Commercial	$	1,806		$	1,877		$	1,935		$	2,045		$	2,103		$	536		$	554		$	621		$	704		$	722		62	%
Consumer		673			686			687			680			685			233			234			236			234			228		-5	%
Mortgage		438			409			399			385			375			72			69			68			68			65		-3	%

Non-FDIC Loans	$	2,917		$	2,972		$	3,021		$	3,110		$	3,163		$	841		$	857		$	925		$	1,006		$	1,015		35	%
Covered Loans							$	353		$	1,670		$	1,561

Total Loans							$	3,374		$	4,780		$	4,724
Non-FDIC Growth		1	%		2	%		14	%		3	%		2	%		0	%		2	%		8	%		9	%		1	%

On a linked quarter basis, the yield on average total loans increased 29 basis points to 5.85%. Yields on mortgage and consumer loans increased 72 and 67 basis points, respectively, on a linked quarter basis. Over this period, the yield on commercial loans increased eight basis points.

Commercial real estate (“CRE”) loans equated to 43% of total loans, though a significant portion of the total CRE portfolio is covered under the loss share agreements with the FDIC. In addition, 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. Finally, a portion of the CRE portfolio is comprised of legacy CRE loans, underwritten under the Company’s guidelines. At March 31, 2010, the average loan size in the legacy CRE portfolio was approximately $607,000, and loans past due 30 days or more (including nonaccruing loans) equated to 2.79% of the CRE loans outstanding (1.72% at December 31, 2009). The majority of the increase in CRE loans past due figure was related to two previously disclosed commercial relationships. Approximately 61% of the legacy CRE portfolio was based in southern Louisiana, 14% in northern Louisiana, and 25% in other markets. At March 31, 2010, many of the local markets in southern Louisiana remained economically healthy compared to the national economy. Excluding construction-related credits and FDIC-assisted loans, at March 31, 2010, approximately 46% of the Company’s CRE portfolio was owner-occupied and 54% was non-owner occupied. Non-owner occupied CRE loans equated to 76% of total risk based capital at March 31, 2010.

At March 31, 2010, approximately 13% of the Company’s direct consumer loan portfolio (net of discounts) 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 719, and loans past due 30 days or more were 1.32% at March 31, 2010 (unchanged compared to December 31, 2009). Legacy home equity loans totaled $336 million at March 31, 2010, with 1.45% past due 30 days or more (1.38% at December 31, 2009). Legacy home equity lines of credit totaled $190 million, with 1.14% past due 30 days or more (0.98% at December 31, 2009). Annualized net charge-offs in this portfolio were 0.47% of loans in the first quarter of 2010 (0.66% in the fourth quarter of 2009). The weighted average loan-to-value at origination for this portfolio over the last three years was approximately 68%.

The indirect automobile portfolio totaled $260 million at March 31, 2010, up less than 1% compared to December 31, 2009. This portfolio equated to 5% of total loans and had 1.01% in loans past due 30 days or more (including nonaccruing loans) at March 31, 2010 (an improvement from 1.19% at December 31, 2009). Annualized net charge-offs in the indirect loan portfolio equated to approximately 0.31% of average loans in the first quarter of 2010 (an improvement from 0.45% in the fourth 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 (5.5% in February 2010, the 10^th lowest unemployment rate of 372 MSAs in the United States).

Deposits

During the first quarter of 2010, total deposits surged $399 million, or 5%, and $274 million, or 6% excluding the FDIC transactions. Between the time of the acquisitions and April 19, 2010, Orion Bank and Century Bank-originated deposits, excluding brokered deposits, increased approximately $274 million, or 13%, which was more favorable than the Company’s expectations at closing.

Period-End Deposit Volumes ($ in Millions)


Deposits	IBERIABANK															*IBERIABANKfsb***
	3/31/09			6/30/09			9/30/09			12/31/09			3/31/10			3/31/09			6/30/09			9/30/09			12/31/09			3/31/10			Since Acq.
Noninterest	$	452		$	451		$	501		$	832		$	798		$	129		$	126		$	128		$	153		$	146		52	%
NOW Accounts		747			750			764			1,038			1,088			205			198			195			203			200		4	%
Savings/MMkt		851			888			1,048			1,948			2,198			220			240			279			305			371		110	%
Time Deposits		1,009			1,014			1,356			2,589			2,608			520			507			504			488			545		1	%

Total Deposits	$	3,059		$	3,103		$	3,669		$	6,407		$	6,692		$	1,074		$	1,071		$	1,105		$	1,149		$	1,263		26	%
Growth		8	%		1	%		18	%		75	%		4	%		-7	%		0	%		3	%		4	%		10	%

Between December 31, 2009 and March 31, 2010, deposits at IBERIABANK increased $285 million, or 4%, and $160 million, or 5% excluding Orion Bank and Century Bank. Deposits at IBERIABANKfsbincreased $114 million, or 10% over this same period.

Noninterest bearing deposits totaled $945 million at March 31, 2010, down $41 million, or 4%, compared to December 31, 2009. Excluding the FDIC-assisted transactions, noninterest bearing deposits decreased $44 million, or 6%, over this period. On a linked quarter basis, average noninterest bearing deposits increased $135 million, or 17%, and interest-bearing deposits increased $1.4 billion, or 26%. The rate on average interest bearing deposits in the first quarter of 2010 was 1.38%, a decrease of 37 basis points on a linked quarter basis, compared to a 28 basis point decline in the cost of average interest bearing liabilities. The Company had only $25 million in short-term borrowings at March 31, 2010, or approximately 0.3% of total liabilities.

Interest Rate Risk Position

The Company’s interest rate risk modeling at March 31, 2010 including the Orion Bank and Century Bank acquisitions indicated the Company is 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 7.7%. Similarly, a 100 basis point decrease in interest rates is expected to decrease net interest income by approximately 1.3%. At March 31, 2010, approximately 52% 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 47%. Approximately 69% of the Company’s time deposit base will re-price within 12 months from March 31, 2010.

Quarterly Average Yields/Cost (Taxable Equivalent Basis)


	IBERIABANK										*IBERIABANKfsb***
	1Q09		2Q09		3Q09		4Q09		1Q10		1Q09		2Q09		3Q09		4Q09		1Q10
Earning Asset Yield	4.92	%	4.91	%	4.65	%	4.64	%	4.36	%	5.41	%	5.29	%	4.79	%	4.89	%	4.93	%
Cost Of Int-Bearing Liabs	2.10	%	1.97	%	1.84	%	1.77	%	1.39	%	2.55	%	2.32	%	2.13	%	1.95	%	1.87	%

Net Interest Spread	2.82	%	2.94	%	2.81	%	2.87	%	2.97	%	2.86	%	2.97	%	2.66	%	2.94	%	3.06	%

Net Interest Margin	3.15	%	3.26	%	3.09	%	3.15	%	3.17	%	3.19	%	3.28	%	2.97	%	3.26	%	3.33	%

Operating Results

Tax-equivalent net interest income increased $12 million, or 19% on a linked quarter basis. Average earning assets increased $1.5 billion (up 21%) and the tax-equivalent net interest spread and margin improved eight and one basis points, respectively, on a linked quarter basis. The average earning asset yield decreased 19 basis points. The Company’s excess liquidity position increased from approximately $342 million at December 31, 2009, to $1.1 billion at March 31, 2010 ($172 million in Fed Funds Sold and $892 million in interest bearing cash). The cost of interest bearing deposits and liabilities declined 37 and 28 basis points, respectively.

Aggregate noninterest income decreased $168 million, or 86%, on a linked quarter basis. The primary changes on a linked quarter basis were (1) a $170 million gain recognized on completion of the Orion Bank and Century Bank acquisitions in the fourth quarter of 2009 compared to $4 million in the first quarter of 2010, and (2) a $1 million decline in gains on the sale of mortgage loans on a linked quarter basis.

The Company’s mortgage origination business experienced seasonal softness in the first half of the first quarter of 2010. The Company originated $295 million in mortgage loans during the first quarter of 2010, down $56 million, or 16%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 27% of mortgage loan originations in the first quarter of 2010, compared to 30% in the fourth quarter of 2009. The Company sold $287 million in mortgage loans during this period, down $48 million, or 14%, compared to the fourth quarter of 2009. Sales margins improved on a linked quarter basis. Gains on the sale of mortgage loans totaled $7 million in the first quarter of 2010, a decrease of $1 million, or 13%, on a linked quarter basis. The mortgage pipeline was approximately $143 million at March 31, 2010, and has since risen to approximately $169 million at April 16, 2010. In recent weeks, loan refinancings accounted for approximately 29% of mortgage activity.

Noninterest expense decreased $8 million, or 11%, on a linked quarter basis. A substantial portion of the decrease was associated with a $10 million goodwill impairment charge in the fourth quarter of 2009. Salaries and benefits expense increased $2 million, or 4%, on a linked quarter basis. Increases in base compensation, payroll taxes, and hospitalization (resulting primarily from a larger employee base after the acquisitions and recruit additions) were partially offset by reductions in contract/temporary labor expense, bonus accruals, mortgage commissions, and merger-related compensation expenses. All other expenses except the goodwill impairment declined $2 million on a linked quarter basis. In aggregate, one-time merger-related costs (included in some of the previously described expense categories) totaled $2 million in the first quarter of 2010, compared to $8 million in the fourth quarter. The combined tangible efficiency ratio of the Company’s bank subsidiaries was approximately 52.1% in the first quarter of 2010.

Diluted net income to common shareholders in the first quarter of 2010 totaled $13 million, down 88% on a linked quarter basis, and up 127% compared to the same quarter last year. Return on average assets (“ROA”) was 0.53% for the first quarter of 2009, return on average common equity (“ROE”) was 4.98%, and return on average tangible common equity was 6.94%.

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 are expected to 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 first quarter of 2010 at the Company. The legacy Company had troubled debt restructurings at March 31, 2010, totaling $7 million.

Summary Asset Quality Statistics


*($thousands)*	IBERIABANK									*IBERIABANKfsb***									IBERIABANK Corp.
	3Q09^*			4Q09^**			1Q10^**			3Q09			4Q09			1Q10			3Q09^*			4Q09^**			1Q10^**
Nonaccruals	$	13,600		$	11,899		$	30,054		$	22,655		$	27,947		$	24,570		$	36,256			39,847		$	54,624
OREO & Foreclosed		2,277			4,000			4,012			11,192			11,281			11,436			13,469			15,281			15,448
90+ Days Past Due		1,999			3,193			1,852			2,651			1,767			1,316			4,650		$	4,960			3,168

Nonperforming Assets	$	17,877		$	19,092		$	35,918		$	36,498		$	40,996		$	37,322		$	54,375		$	60,088		$	73,240

NPAs/Assets		0.42	%		0.38	%		0.64	%		2.43	%		2.68	%		2.27	%		0.93	%		0.91	%		1.01	%
NPAs/(Loans + OREO)		0.59	%		0.61	%		1.13	%		3.90	%		4.03	%		3.64	%		1.38	%		1.45	%		1.75	%
LLR/Loans		1.05	%		1.10	%		1.38	%		1.86	%		2.12	%		1.98	%		1.25	%		1.36	%		1.53	%
Net Charge-Offs/Loans		1.21	%		0.04	%		0.08	%		6.16	%		0.78	%		1.41	%		2.38	%		0.22	%		0.41	%

^*	Excludes the impact of the CapitalSouth acquisition

^**	Excludes the impact of all FDIC-assisted acquisitions

The FDIC-assisted transactions accounted for $853 million, or 92% of the Company’s $926 million in total NPAs at March 31, 2010, and the legacy IBERIABANK Corporation franchise accounted for the remaining $73 million in NPAs. Excluding the FDIC-assisted transactions, NPAs equated to 1.01% of total assets at March 31, 2010, compared to 0.91% at December 31, 2009. On this same basis, total loans past due 30 days or more (including nonaccruing loans) represented 2.04% of total loans at March 31, 2010, up 35 basis points, compared to 1.69% of total loans at December 31, 2009.

Loans Past Due

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


By Entity:	12/31/08		3/31/09		6/30/09		9/30/09		12/31/09		3/31/10
IBERIABANK (Ex-FDIC Covered Assets)
30+ days past due	0.69	%	0.31	%	0.33	%	0.32	%	0.58	%	0.67	%
Non-accrual	0.22	%	0.54	%	0.47	%	0.45	%	0.38	%	0.94	%

Total Past Due	0.92	%	0.85	%	0.80	%	0.77	%	0.96	%	1.61	%

*IBERIABANKfsb***
30+ days past due	1.57	%	1.85	%	1.73	%	1.09	%	1.12	%	0.88	%
Non-accrual	2.53	%	2.12	%	1.68	%	2.45	%	2.78	%	2.42	%

Total Past Due	4.10	%	3.97	%	3.41	%	3.54	%	3.90	%	3.30	%

Consolidated (Ex-FDIC Covered Assets)
30+ days past due	0.89	%	0.65	%	0.64	%	0.50	%	0.72	%	0.73	%
Non-accrual	0.74	%	0.90	%	0.74	%	0.92	%	0.97	%	1.31	%

Total Past Due	1.63	%	1.55	%	1.38	%	1.42	%	1.69	%	2.04	%


CapitalSouth Only
30+ days past due							7.62	%	7.59	%	10.01	%
Non-accrual							24.64	%	29.68	%	23.97	%

Total Past Due							32.26	%	37.27	%	33.98	%

Orion Only
30+ days past due									16.54	%	8.56	%
Non-accrual									57.58	%	59.86	%

Total Past Due									74.12	%	68.42	%

Century Only
30+ days past due									10.52	%	10.81	%
Non-accrual									53.50	%	43.73	%

Total Past Due									64.02	%	54.54	%

Consolidated With FDIC Covered Assets
30+ days past due							1.08	%	4.37	%	3.09	%
Non-accrual							2.87	%	15.45	%	14.23	%

Total Past Due							3.95	%	19.82	%	17.32	%

At March 31, 2010, the allowance for loan losses was 1.11%, up compared to 0.96% at December 31, 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. Excluding the acquired loans, the Company’s ratio of loan loss reserves to loans increased from 1.25% at September 30, 2009, to 1.36% at December 31, 2009, and to 1.53% at March 31, 2010.

The Company reported net charge-offs of $5 million in the first quarter of 2010, compared to $2 million in the fourth quarter of 2009. The ratio of net charge-offs to average loans was 0.36% in the first quarter of 2010, compared to 0.18% in the fourth quarter of 2009. The elevated charge-offs in the first quarter were primarily due to valuations on appraisals of collateral securing various loans. The Company recorded a $13 million loan loss provision in the first quarter of 2010, compared to $9 million in the fourth quarter of 2009 and covered net charge-offs by 2.6 times. Management considers the loan loss reserve adequate to absorb credit losses inherent in the loan portfolio at March 31, 2010.

Capital Position

The Company maintains strong capital ratios compared to peers. The equity-to-assets ratio was 12.43% at March 31, 2010, compared to 9.84% at December 31, 2009. At March 31, 2010, the Company reported a tangible common equity ratio of 10.19%, compared to 7.35% at December 31, 2009 and 7.51% one year ago. The Company’s Tier 1 leverage ratio was 11.64%, compared to 9.90% at December 31, 2009 and 9.16% one year ago. The Company’s total risk based capital ratio was 19.82%, compared to 13.50% at December 31, 2009 and 13.58% one year ago. The Company’s tangible common equity to risk weighted assets ratio was 16.99%, compared to 11.81% at December 31, 2009, and 9.78% one year ago.

On March 8, 2010, the Company issued and sold 5,973,207 shares of common stock for net proceeds of approximately $329 million in a public underwritten equity offering. Shares were sold in the offering at a price of $57.75 per share. At the time of the transaction’s pricing, the offer price was a 0.3% discount to the last trading price. The shares were sold at a price that was 2% below the Company’s 52-week high trading price. The Company’s closing stock price on April 20, 2010 was $62.62 per share, or approximately 8% above the closing price of the offering.

Regulatory Capital Ratios

At March 31, 2010


Capital Ratio	Well Capitalized		IBERIABANK		IBERIABANK *fsb*		IBERIABANK Corporation
Tier 1 Leverage	5.00	%	6.97	%	9.61	%	11.64	%
Tier 1 Risk Based	6.00	%	12.11	%	12.31	%	18.36	%
Total Risk Based	10.00	%	13.57	%	13.55	%	19.82	%

At March 31, 2010, book value per share was $48.29, up $2.25, or 5%, compared to December 31, 2009, and up 18% compared to one year ago. Tangible book value per share improved $5.07, or 15%, over that period to $38.60, and up 56% compared to one year ago.

On March 15, 2010, 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 2.17%, based on the closing stock price of the Company’s common stock on April 20, 2010 of $62.62 per share. This price equated to 1.30 times March 31, 2010 book value per share of $48.29 and 1.62 times tangible book value per share of $38.60.

IBERIABANK Corporation

IBERIABANK Corporation is a multi-bank financial holding company with 210 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 48 locations in 12 states. During the first quarter of 2010, the Company opened banking offices in Deer Park in the Houston MSA and on Metairie Road in New Orleans, and a mortgage office in Fort Myers, Florida.

The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC.” The Company’s market capitalization was approximately $1.7 billion, based on the NASDAQ closing stock price on April 20, 2010.

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

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B. Riley & Company

•

FIG Partners, LLC

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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 Wednesday, April 21, 2010, beginning at 9:30 a.m. Central Time by dialing 1-800-288-9626. The confirmation code for the call is 152557. A replay of the call will be available until midnight Central Time on April 28, 2010 by dialing 1-800-475-6701. The confirmation code for the replay is 152557. 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”,

“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, including the availability of future FDIC-assisted failed bank opportunities, 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 and economic conditions in these markets, rapid changes in the financial services industry, dependence on our operational, technological, and organizational infrastructure, hurricanes and other adverse weather events, the volatility and low trading volume 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.

IBERIABANK CORPORATION

FINANCIAL HIGHLIGHTS


	For The Quarter Ended March 31,								For The Quarter Ended December 31,
	2010			2009			% Change		2009			% Change
Income Data (in thousands):
Net Interest Income	$	69,206		$	36,287		91	%	$	57,556		20	%
Net Interest Income (TE)⁽¹⁾		71,039			37,623		89	%		59,452		19	%
Net Income		13,004			9,145		42	%		108,902		(88	)%
Earnings Available to Common Shareholders - Basic		13,004			5,795		124	%		108,902		(88	)%
Earnings Available to Common Shareholders - Diluted		12,752			5,626		127	%		106,185		(88	)%

Per Share Data:
Earnings Available to Common Shareholders - Basic	$	0.60		$	0.36		66	%	$	5.27		(89	)%
Earnings Available to Common Shareholders - Diluted		0.59			0.36		64	%		5.23		(89	)%
Book Value Per Common Share		48.29			40.98		18	%		46.04		5	%
Tangible Book Value Per Common Share⁽²⁾		38.60			24.82		56	%		33.53		15	%
Cash Dividends		0.34			0.34		—			0.34		—

Number of Shares Outstanding:
Basic Shares (Average)		21,928,397			15,928,634		38	%		20,617,155		6	%
Diluted Shares (Average)		21,690,564			15,728,518		38	%		20,301,703		7	%
Book Value Shares (Period End)⁽³⁾		26,753,464			16,022,718		67	%		20,797,218		29	%

Key Ratios:⁽⁴⁾
Return on Average Assets		0.53	%		0.67	%				5.29	%
Return on Average Common Equity		4.98	%		3.59	%				46.94	%
Return on Average Tangible Common Equity⁽²⁾		6.94	%		6.35	%				66.26	%
Net Interest Margin (TE)⁽¹⁾		3.16	%		3.02	%				3.15	%
Efficiency Ratio		68.7	%		73.0	%				29.6	%
Tangible Efficiency Ratio (TE)^{(1) (2)}		66.1	%		69.9	%				28.9	%
Average Loans to Average Deposits		74.4	%		93.2	%				82.1	%
Nonperforming Assets to Total Assets⁽⁵⁾		8.91	%		0.95	%				10.43	%
Allowance for Loan Losses to Loans		1.11	%		1.11	%				0.96	%
Net Charge-offs to Average Loans		0.36	%		0.24	%				0.18	%
Average Equity to Average Total Assets		10.72	%		13.35	%				11.24	%
Tier 1 Leverage Ratio		11.64	%		9.16	%				9.90	%
Common Stock Dividend Payout Ratio		69.9	%		94.0	%				6.5	%
Tangible Common Equity Ratio		10.19	%		7.51	%				7.35	%
Tangible Common Equity to Risk-Weighted Assets		16.99	%		9.78	%				11.81	%

⁽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)


	March 31,								December 31, 2009
	2010			2009			% Change		December 31, 2009
BALANCE SHEET (End of Period)
ASSETS
Cash and Due From Banks	$	95,849		$	88,010		8.9	%	$	94,674
Interest-bearing Deposits in Banks		892,369			75,351		1084.3	%		80,723

Total Cash and Equivalents		988,218			163,361		504.9	%		175,397
Investment Securities Available for Sale		1,301,185			929,131		40.0	%		1,320,476
Investment Securities Held to Maturity		237,551			88,832		167.4	%		260,361

Total Investment Securities		1,538,736			1,017,963		51.2	%		1,580,837
Mortgage Loans Held for Sale		74,225			81,077		(8.5	)%		66,945
Loans, Net of Unearned Income		5,739,322			3,757,959		52.7	%		5,784,365
Allowance for Loan Losses		(63,875	)		(41,662	)	53.3	%		(55,768	)

Loans, net		5,675,447			3,716,297		52.7	%		5,728,597
Loss Share Receivable		917,246			—		100.0	%		1,034,734
Premises and Equipment		142,961			131,235		8.9	%		137,426
Goodwill and Other Intangibles		259,144			259,060		0.0	%		260,144
Mortgage Servicing Rights		234			241		(3.0	)%		229
Other Assets		796,104			178,839		345.2	%		716,093

Total Assets	$	10,392,315		$	5,548,073		87.3	%	$	9,700,402

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	944,657		$	580,607		62.7	%	$	985,253
Interest-bearing Deposits		7,010,226			3,552,873		97.3	%		6,570,895

Total Deposits		7,954,883			4,133,480		92.5	%		7,556,148
Short-term Borrowings		25,000			—		100.0	%		90,000
Securities Sold Under Agreements to Repurchase		178,740			142,149		25.7	%		173,351
Long-term Debt		738,315			544,138		35.7	%		745,864
Other Liabilities		203,464			72,720		179.8	%		180,824

Total Liabilities		9,100,402			4,892,487		86.0	%		8,746,187
Total Shareholders’ Equity		1,291,913			655,586		97.1	%		954,215

Total Liabilities and Shareholders’ Equity	$	10,392,315		$	5,548,073		87.3	%	$	9,700,402


	For The Three Months Ended March 31,
	2010			2009			% Change
INCOME STATEMENT
Interest Income	$	97,620		$	60,321		61.8	%
Interest Expense		28,414			24,034		18.2	%

Net Interest Income		69,206			36,287		90.7	%
Provision for Loan Losses		13,201			3,032		335.3	%

Net Interest Income After Provision for Loan Losses		56,005			33,255		68.4	%
Service Charges		5,901			5,272		11.9	%
ATM / Debit Card Fee Income		2,325			1,714		35.7	%
BOLI Proceeds and Cash Surrender Value Income		709			713		(0.6	)%
Gain on Acquisition		3,781			—		100.0	%
Gain on Sale of Loans, net		7,373			8,529		(13.6	)%
Gain (Loss) on Sale of Investments, net		922			3		29226.0	%
Title Revenue		3,703			4,479		(17.3	)%
Broker Commissions		1,212			1,214		(0.2	)%
Other Noninterest Income		2,427			1,806		34.4	%

Total Noninterest Income		28,353			23,730		19.5	%
Salaries and Employee Benefits		35,831			24,228		47.9	%
Occupancy and Equipment		7,593			5,632		34.8	%
Amortization of Acquisition Intangibles		1,010			622		62.5	%
Other Noninterest Expense		22,566			13,310		69.5	%

Total Noninterest Expense		67,000			43,792		53.0	%
Income Before Income Taxes		17,358			13,193		31.6	%
Income Taxes		4,354			4,048		7.6	%

Net Income	$	13,004		$	9,145		42.2	%

Preferred Stock Dividends		—			(3,350	)	(100.0	)%

Earnings Available to Common Shareholders - Basic		13,004			5,795		124.4	%

Earnings Allocated to Unvested Restricted Stock		(252	)		(169	)	48.9	%

Earnings Available to Common Shareholders - Diluted		12,752			5,626		126.7	%

Earnings Per Share, diluted	$	0.59		$	0.36		64.4	%

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)


	For The Quarter Ended
	March 31, 2010			December 31, 2009			September 30, 2009			June 30, 2009			March 31, 2009
BALANCE SHEET (Average)
ASSETS
Cash and Due From Banks	$	92,145		$	75,435		$	59,975		$	78,939		$	78,204
Interest-bearing Deposits in Banks		387,929			305,371			299,591			61,115			130,584
Investment Securities		1,569,301			1,327,579			1,074,896			1,033,274			995,766
Mortgage Loans Held for Sale		50,810			58,785			60,350			89,298			81,910
Loans, Net of Unearned Income		5,737,876			5,070,584			4,049,351			3,788,273			3,743,032
Allowance for Loan Losses		(55,133	)		(49,442	)		(45,711	)		(42,970	)		(40,711	)
Loss Share Receivable		1,033,377			590,804			38,784			—			—
Other Assets		1,054,224			787,488			592,455			585,016			583,373

Total Assets	$	9,870,529		$	8,166,604		$	6,129,691		$	5,592,945		$	5,572,158

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	939,776		$	804,918		$	583,229		$	570,298		$	554,269
Interest-bearing Deposits		6,772,432			5,368,692			3,864,927			3,558,739			3,461,866

Total Deposits		7,712,208			6,173,610			4,448,156			4,129,037			4,016,135
Short-term Borrowings		32,769			31,054			2,174			22,489			45,760
Securities Sold Under Agreements to Repurchase		168,303			188,339			210,115			149,664			141,186
Long-term Debt		736,458			681,789			536,877			541,557			552,838
Other Liabilities		162,675			174,133			94,189			86,819			72,430

Total Liabilities		8,812,413			7,248,925			5,291,511			4,929,566			4,828,349
Total Shareholders’ Equity		1,058,116			917,679			838,180			663,379			743,809

Total Liabilities and Shareholders’ Equity	$	9,870,529		$	8,166,604		$	6,129,691		$	5,592,945		$	5,572,158


	2010			2009
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
INCOME STATEMENT
Interest Income	$	97,620		$	85,538		$	63,554		$	60,974		$	60,321
Interest Expense		28,414			27,982			22,888			22,698			24,034

Net Interest Income		69,206			57,556			40,666			38,276			36,287
Provision for Loan Losses		13,201			9,260			25,295			7,783			3,032

Net Interest Income After Provision for Loan Losses		56,005			48,296			15,371			30,493			33,255
Total Noninterest Income		28,353			196,353			80,874			32,030			23,730
Total Noninterest Expense		67,000			75,114			54,540			49,814			43,792

Income Before Income Taxes		17,358			169,535			41,705			12,709			13,193
Income Taxes		4,354			60,633			16,976			4,235			4,048

Net Income	$	13,004		$	108,902		$	24,729		$	8,474		$	9,145

Preferred Stock Dividends		—			—			—			—			(3,350	)

Earnings Available to Common Shareholders - Basic	$	13,004		$	108,902		$	24,729		$	8,474		$	5,795

Earnings Allocated to Unvested Restricted Stock		(252	)		(2,717	)		(603	)		(250	)		(169	)

Earnings Available to Common Shareholders - Diluted	$	12,752		$	106,185		$	24,126		$	8,224		$	5,626

Earnings Per Share, basic	$	0.60		$	5.27		$	1.22		$	0.53		$	0.36

Earnings Per Share, diluted	$	0.59		$	5.23		$	1.21		$	0.52		$	0.36

Book Value Per Share	$	48.29		$	46.04		$	41.41		$	41.13		$	40.98

Return on Average Assets		0.53	%		5.29	%		1.60	%		0.61	%		0.67	%
Return on Average Common Equity		4.98	%		46.94	%		11.66	%		5.11	%		3.59	%
Return on Average Tangible Common Equity		6.94	%		66.26	%		17.10	%		8.75	%		6.35	%

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


	March 31,								December 31, 2009
	2010			2009			% Change		December 31, 2009
LOANS RECEIVABLE
Residential Mortgage Loans:
Residential 1-4 Family	$	953,584		$	476,899		100.0	%	$	975,395
Construction/ Owner Occupied		25,516			32,665		(21.9	)%		32,857

Total Residential Mortgage Loans		979,100			509,564		92.1	%		1,008,252
Commercial Loans:
Real Estate		2,487,698			1,551,790		60.3	%		2,499,843
Business		1,222,078			790,027		54.7	%		1,218,014

Total Commercial Loans		3,709,776			2,341,817		58.4	%		3,717,857
Consumer Loans:
Indirect Automobile		260,470			264,019		(1.3	)%		259,339
Home Equity		643,891			503,979		27.8	%		649,821
Automobile		30,483			28,141		8.3	%		30,552
Credit Card Loans		41,738			38,259		9.1	%		44,561
Other		73,864			72,180		2.3	%		73,983

Total Consumer Loans		1,050,446			906,578		15.9	%		1,058,256

Total Loans Receivable		5,739,322			3,757,959		52.7	%		5,784,365

Allowance for Loan Losses		(63,875	)		(41,662	)				(55,768	)

Loans Receivable, Net	$	5,675,447		$	3,716,297				$	5,728,597


	March 31,								December 31, 2009
	2010			2009			% Change		December 31, 2009
ASSET QUALITY DATA
Nonaccrual Loans	$	816,718		$	33,750		22319.9	%	$	893,441
Foreclosed Assets		15			9		70.8	%		35
Other Real Estate Owned		50,126			16,019		212.9	%		74,056
Accruing Loans More Than 90 Days Past Due		59,575			2,952		1918.2	%		43,952

Total Nonperforming Assets	$	926,434		$	52,730		1656.9	%	$	1,011,485

Nonperforming Assets to Total Assets		8.91	%		0.95	%	838.0	%		10.43	%
Nonperforming Assets to Total Loans and OREO		16.0	%		1.40	%	1045.3	%		17.27	%
Allowance for Loan Losses to Nonperforming Loans⁽¹⁾		7.3	%		113.5	%	(93.6	)%		5.9	%
Allowance for Loan Losses to Nonperforming Assets		6.9	%		79.0	%	(91.3	)%		5.5	%
Allowance for Loan Losses to Total Loans		1.11	%		1.11	%	0.4	%		0.96	%
Year to Date Charge-offs	$	6,809		$	2,765		146.2	%	$	33,267
Year to Date Recoveries		(1,715	)		(523	)	227.7	%		(2,646	)

Year to Date Net Charge-offs	$	5,094		$	2,242		127.2	%	$	30,621
Quarter to Date Net Charge-offs	$	5,094		$	2,242		127.2	%	$	2,283
⁽¹⁾ Nonperforming loans consist of nonaccruing loans and accruing loans 90 days or more past due.

	March 31,								December 31, 2009
	2010			2009			% Change		December 31, 2009
DEPOSITS
Noninterest-bearing Demand Accounts	$	944,657		$	580,607		62.7	%	$	985,253
NOW Accounts		1,287,895			952,298		35.2	%		1,241,241
Savings and Money Market Accounts		2,569,254			1,070,520		140.0	%		2,253,065
Certificates of Deposit		3,153,077			1,530,055		106.1	%		3,076,589

Total Deposits	$	7,954,883		$	4,133,480		92.5	%	$	7,556,148

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)


	For The Quarter Ended
	March 31, 2010					December 31, 2009					March 31, 2009
	Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	992,178		5.78	%	$	875,454		5.06	%	$	521,180		5.64	%
Commercial Loans (TE)⁽¹⁾		3,695,589		5.69	%		3,134,273		5.61	%		2,315,732		4.68	%
Consumer and Other Loans		1,050,109		6.49	%		1,060,857		5.82	%		906,120		6.64	%

Total Loans		5,737,876		5.85	%		5,070,584		5.56	%		3,743,032		5.29	%
Mortgage Loans Held for Sale		50,810		4.69	%		58,785		4.75	%		81,910		4.80	%
Investment Securities (TE)⁽¹⁾⁽²⁾		1,541,471		3.39	%		1,265,385		3.82	%		968,163		4.61	%
Other Earning Assets		1,639,602		0.08	%		1,030,554		0.18	%		179,580		0.51	%

Total Earning Assets		8,969,759		4.45	%		7,425,308		4.64	%		4,972,685		4.98	%
Allowance for Loan Losses		(55,133	)				(49,442	)				(40,711	)
Nonearning Assets		955,903					790,738					640,184

Total Assets	$	9,870,529				$	8,166,604				$	5,572,158


LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts	$	1,279,441		0.82	%	$	1,083,574		0.76	%	$	910,272		0.90	%
Savings and Money Market Accounts		2,415,853		1.64	%		1,806,497		1.48	%		1,006,998		1.55	%
Certificates of Deposit		3,077,138		1.41	%		2,478,621		2.37	%		1,544,596		3.15	%

Total Interest-bearing Deposits		6,772,432		1.38	%		5,368,692		1.75	%		3,461,866		2.09	%
Short-term Borrowings		201,072		0.39	%		219,394		0.46	%		186,946		0.83	%
Long-term Debt		736,458		2.81	%		681,789		2.33	%		552,838		4.20	%

Total Interest-bearing Liabilities		7,709,962		1.49	%		6,269,875		1.77	%		4,201,650		2.31	%
Noninterest-bearing Demand Deposits		939,776					804,918					554,269
Noninterest-bearing Liabilities		162,675					174,132					72,430

Total Liabilities		8,812,413					7,248,925					4,828,349
Shareholders’ Equity		1,058,116					917,679					743,809

Total Liabilities and Shareholders’ Equity	$	9,870,529				$	8,166,604				$	5,572,158

Net Interest Spread	$	69,206		2.95	%	$	57,556		2.87	%	$	36,287		2.66	%
Tax-equivalent Benefit		1,833		0.08	%		1,896		0.09	%		1,336		0.11	%
Net Interest Income (TE) / Net Interest Margin (TE)⁽¹⁾	$	71,039		3.16	%	$	59,452		3.15	%	$	37,623		3.02	%

⁽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
	3/31/2010			12/31/2009			3/31/2009
Net Interest Income	$	69,206		$	57,556		$	36,287
Effect of Tax Benefit on Interest Income		1,833			1,896			1,336

Net Interest Income (TE)⁽¹⁾		71,039			59,452			37,623

Noninterest Income		28,353			196,353			23,730
Effect of Tax Benefit on Noninterest Income		382			393			384

Noninterest Income (TE)⁽¹⁾		28,735			196,746			24,114

Total Revenues (TE)⁽¹⁾	$	99,774		$	256,198		$	61,737

Total Noninterest Expense	$	67,000		$	75,114		$	43,792
Less Intangible Amortization Expense		(1,010	)		(1,022	)		(622	)

Tangible Operating Expense⁽²⁾	$	65,990		$	74,092		$	43,170

Return on Average Common Equity		4.98	%		46.94	%		3.59	%
Effect of Intangibles⁽²⁾		1.96	%		19.32	%		2.76	%

Return on Average Tangible Common Equity⁽²⁾		6.94	%		66.26	%		6.35	%

Efficiency Ratio		68.7	%		29.6	%		73.0	%
Effect of Tax Benefit Related to Tax Exempt Income		(1.5	)%		(0.3	)%		(2.1	)%

Efficiency Ratio (TE)⁽¹⁾		67.2	%		29.3	%		70.9	%
Effect of Amortization of Intangibles		(1.1	)%		(0.4	)%		(1.0	)%

Tangible Efficiency Ratio (TE)^{(1) (2)}		66.1	%		28.9	%		69.9	%

⁽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.

Iberiabank (IBKC) 8-KIBERIABANK Corporation Reports Results For First Quarter