![]() 4Q11 Earnings Conference Call 4Q11 Earnings Conference Call Supplemental Materials January 25, 2012 January 25, 2012 Exhibit 99.2 |
![]() Safe Harbor Language Safe Harbor Language 2 |
![]() Introductory Comments 3 |
![]() Introductory Comments Summary – Position • Stable Balance Sheet Composition • Very Balanced; Core Funded; Low C&D Exposure • Continued Good Asset Quality; Extraordinary Capital • Well Positioned On Interest Rates And Credit Risk • Favorable Capital Ratios of Bank Holding Companies With More Than $5 Billion in Assets • Legacy Deposit Growth in 4Q11 And Improved Deposit Mix • Future Growth Engines in Multiple Markets • Strategic Recruiting Continued During The 4 th Quarter • Fortunately, We Avoided What Ails The Banking Industry • Remain Well Positioned For Future Opportunities 4 |
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![]() Financial Overview 6 |
![]() Financial Overview Summary – 4Q11 and 12/31/11 • T/E Net Interest Income Up $2mm (+2%) • Credit Quality Statistics Excluding FDIC Covered Assets And Acquired Assets Marked To Fair Value: • NPA/Assets = 0.87% (0.89% in 3Q11) • 30+ Days Past Due = 1.37% (1.68% in 3Q11) • Loan Loss Reserve/Loans = 1.24% (1.34% in 3Q11) • Net COs/Average Loans = 0.31% (0.12% in 3Q11) • Provision = $4mm ($6mm in 3Q11) • Reported EPS Of $0.59, Up 9% from 3Q11. Significant Items Impacting 4Q11 Results Include: 7 • Bond Portfolio Gains = +$0.8mm or $0.02 • Durbin Amendment = -$0.9mm or $0.02 • Posting Sequencing = -$1.1mm or $0.02 • Merger/Conversion Costs = $4.3mm or $0.10 • Property Write-Downs = $0.8mm or $0.02 • Revenue Bond Impairment = $0.5mm or $0.01 • FDIC Loan Pool Impairment = $1.6mm or $0.04 |
![]() Financial Overview Favorable Balance Sheet Growth 8 |
![]() Cash and Equivalents, 5% Investment Securities, 17% Mortgage Loans Held For Sale, 1% Acquired Loans - Fair Value, 0.2% Loans - FDIC Covered, 11% FDIC Loss Share Receivable, 5% Loans - Noncovered, 51% Other Assets, 9% Financial Overview Low Risk Balance Sheet At December 31, 2011 40% Of Balance Sheet In Very Low Risk Components 9 |
![]() Financial Overview Trends - Mortgage Interest Rates • Conforming Rates Have Bounced Off Of Lows • Refi Activity Has Diminished • Sales Spreads Remain Favorable • Improved Competitive Dynamics In Mortgage Business Source: Bloomberg as of January 20, 2012 10 |
![]() Financial Overview Mortgage Quarterly Revenues • Total 2011 Originations Of $1.7 Billion • In 4Q11 Closed $516mm (+2% Vs. 3Q11) • In 4Q11 Sold $495mm (+11% Vs. 3Q11) • 4Q11 Vs. 3Q11: 2% Decrease In Mtg. Revenues • $158mm Locked Pipeline on 1/20/11 11 |
![]() Financial Overview Title Insurance Quarterly Revenues • Title & Mortgage Footprints Don’t Necessarily Overlap • 4Q11: $4.8mm In Revenues (-1% Vs. 3Q11) 12 |
![]() Financial Overview Service Charges/Revenues • Less Reliance On Service Charge Income And Consumer Fees Than Peers 13 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% EBTX OZRK PBIB IBKC CSFL HOMB UCBI SBCF BXS SFNC RNST HBHC PFBX FSGI FMFC TRMK MSL SBSI CCBG IBKC = 5% Source: SNL Data as of most recent quarter Non-Interest Income Excludes Gains on Acquisitions and Investment Sales |
![]() Financial Overview Quarterly Repricing Schedule 14 1Q12 2Q12 3Q12 4Q12 1Q13 Cash Equivalents 441.7 $ - $ - $ - $ - $ 0.62% 0.00% 0.00% 0.00% 0.00% Investments 143.0 $ 141.6 $ 127.6 $ 103.2 $ 78.4 $ 3.14% 3.49% 3.24% 3.09% 3.38% Loans 3,770.4 $ 426.2 $ 385.8 $ 305.7 $ 227.5 $ 3.73% 5.15% 4.88% 5.16% 5.44% Time Deposits 564.9 $ 585.9 $ 456.5 $ 291.3 $ 126.4 $ 1.33% 1.28% 1.41% 1.10% 1.48% Borrowed Funds 538.7 $ 20.8 $ 1.5 $ 5.8 $ 7.1 $ 0.94% 2.90% 4.00% 2.23% 3.28% • $1.9 Billion In Aggregate Time Deposits Repricing Over The Next 12 Months At A Weighted Average Rate Of 1.30% |
![]() Financial Overview Interest Rate Simulations Source: Bancware model, as of December 31, 2011 • Fairly Balanced From An Interest Rate Risk Position • Degree Is A Function Of The Reaction Of Competitors To Changes In Deposit Pricing • Forward Curve Has A Positive Impact Over 12 Months 15 |
![]() Financial Overview Annual Change In Stock Price Source: Bloomberg as of January 23, 2012 16 |
![]() Financial Overview Price Change By Index Since August 2007 Source: SNL Through January 23, 2012 17 |
![]() Asset Quality 18 |
![]() Asset Quality Loan Portfolio Mix % based on gross portfolio – excluding discounts on loans acquired in FDIC-assisted transactions 19 $000s % of CRE % Loans C&D-IBERIABANK 373,951 16% 5% CRE-Owner Occupied 964,217 41% 12% CRE-Non-Owner Occupied 1,007,049 43% 13% Total Commercial RE 2,345,217 $ 100% 30% Residential 4% Home Equity 11% Credit Card 1% Automobile 0% Indirect Automobile 4% Other Consumer 1% Business 26% Commercial RE 32% FDIC Acquired Loans 18% All Other Loans 3% |
![]() Asset Quality 4Q11 Compared To Prior Quarters Note: Includes FDIC Assisted Acquisitions 20 |
![]() Asset Quality Loans Past Due + Non-Accruals ** Beginning in 2011, IBERIABANK fsb was merged with IBERIABANK 21 |
![]() Asset Quality – Entity NPAs & Past Dues Note: Includes FDIC Assisted Acquisitions 22 |
![]() Asset Quality Trends – Entity LLR & Net COs Note: Includes FDIC Assisted Acquisitions 23 |
![]() Asset Quality 24 |
![]() Asset Quality Asset Quality Classified Assets • “Classified Assets” Are Loans That Exhibit Stress And Warrant Close Watching • At December 31, 2011 Classified Assets were $206 million • Our Classified Assets As A Percentage Of Total Assets Are Very Low, Particularly Compared To Our Local Peers 25 Source: SNL, Company Filings for 2010 IBKC Data as of December 31, 2011 -Excludes covered loans related to FDIC-Assisted Acquisitions |
![]() Asset Quality Loan Loss Reserve • Legacy IBERIABANK Credits Performing Very Well • Classified Assets And NPAs Remain Favorable • $4.3 Million Loan Loss Provision In 4Q11 (3Q11 = $6.1 Million) • $4.6 Million In Net Charge-Offs In 4Q11 Excluding FDIC Covered and SOP 03-3 Loans (0.31% Of Average Loans) 26 |
![]() • The Lowest Level Of C&D Loan Exposure Compared To Peers • One Of The Lowest Levels Of NPAs Compared To Peers Asset Quality C&D Loans And NPAs Compared To Peers Source: SNL, using most recent quarterly information NPA/Adjusted Total Assets excludes FDIC covered assets IBKC data also excludes acquired assets marked to fair value |
![]() Asset Quality Commercial Real Estate Loan Portfolio Excludes covered loans related to FDIC-Assisted Acquisitions 28 |
![]() Asset Quality Commercial Real Estate Loan Portfolio Note: Includes commercial construction and land development loans Excludes covered loans related to FDIC-Assisted Acquisitions 29 |
![]() Asset Quality Commercial Loan Composition Note: At December 31, 2011; Includes commercial construction and land development loans – excludes Covered Assets 30 |
![]() Consumer Loan Portfolio 31 |
![]() Consumer Loan Portfolio By Product – Score Distribution Note: Excludes Credit Cards Excludes Covered Loans from FDIC Acquisitions 32 Score Intervals HELOC Home Equity Loans Unsecured Lines Unsecured Other Secured Indirect Auto 800 + 11% 14% 5% 8% 11% 11% 750 - 799 41% 36% 31% 29% 25% 28% 700 - 749 25% 23% 24% 26% 25% 23% 650 - 699 14% 15% 21% 20% 18% 19% 600 - 649 4% 6% 8% 8% 8% 9% 550 - 599 3% 4% 4% 5% 6% 5% 500 - 549 0% 2% 3% 3% 3% 3% 450 - 499 0% 1% 1% 1% 1% 1% 400 - 449 2% 0% 0% 0% 0% 0% Other 0% 1% 2% 2% 3% 1% Total 100% 100% 100% 100% 100% 100% Avg. Score 744 724 730 709 701 716 Consumer Portfolio - Score Distribution By Product |
![]() Consumer Loan Portfolio Past Dues By Product • Generally Good And Stable Asset Quality Across Consumer Products Excludes FDIC Loss Share Covered Assets 33 |
![]() Consumer Loan Portfolio By Product – Origination Mix 34 |
![]() Consumer Loan Portfolio By Product – Loan-To-Values 35 |
![]() Consumer Loan Portfolio Indirect – 30+ Days Past Dues 36 |
![]() Consumer Loan Portfolio Indirect – Net Charge-Offs 37 |
![]() FDIC Loss Share Performance 38 |
![]() Loss Share Performance Covered Loan Portfolio Rollforward 39 |
![]() Markets 40 |
![]() Markets – Local Economies Unemployment – vs. U.S. MSAs Source: U.S. Department of Labor, Bureau of Labor Statistics 41 |
![]() Markets – Local Economies Freddie Mac – Regional Prices Source: Freddie Mac, FMHPI data series for 3Q2011 42 Last 5-Year Housing Price Last 12 3Q11 vs. Region States Included Change Months 2Q11 West North Central IA, KS, MN, MO, ND, NE, SD -5.8% -0.8% 2.1% East South Central TN, AL, MS, KY -9.3% -1.6% 0.3% West South Central LA, AR, TX, OK -4.2% -2.4% -7.8% Middle Atlantic NY, NJ, PA -12.7% -2.4% 0.8% East North Central IL, IN, MI, OH, WI -20.0% -2.7% 1.6% New England CT, MA, ME, NH, RI, VT -16.6% -2.9% -1.3% South Atlantic NC, SC, FL, GA, VA, MD, WV, DC, DE -19.2% -4.3% -6.9% Mountain AZ, CO, ID, MT, NM, NV, UT, WY -25.3% -4.9% 0.3% Pacific CA, OR, WA, HI, AK -24.6% -5.3% -6.3% United States -24.8% -4.3% -2.8% |
![]() Markets – Local Economies Housing Price Change Vs. U.S. MSAs Source: Freddie Mac, FMHPI data series for 3Q2011 43 |
![]() Markets – Local Economies Housing Price Trends – IBKC Markets 44 |
![]() Markets – Local Economies Housing Price Trends – IBKC Markets 45 |
![]() Markets – Local Economies Housing Price Trends – IBKC Markets 46 |
![]() Markets – Local Economies Housing Price Trends – IBKC Markets 47 |
![]() Markets – Local Economies House Price Decline Probability 48 |
![]() Markets-Local Economies IBKC Market Demographics Source: SNL Financial 49 |
![]() Markets – Local Economies IBKC Office Optimization • Entered 3 New Markets • Acquired 12 Offices (All) • Closed/Consolidated 18 Offices (All Types) • Opened 10 New Bank Offices • Opened 7 Mortgage Offices • Divested/Sold 1 Office • 5 Office Realignments 1999 Through 2005 Since 2005 • Entered 27 New Markets • Acquired 180 Offices (All) • Closed/Consolidated 57 Offices (All Types) • Opened 25 New Bank Offices • Opened 29 Mortgage Offices • Opened 2 Title Office • 13 Office Realignments 50 |
![]() Markets – Local Economies Oil & Gas Impact Source: Bloomberg 51 |
![]() Summary Of IBKC • Industry Operating Environment--Challenging •Housing •Credit Risk •Interest Rate Risk •Operations Risk • We Tend To Move “Ahead Of The Curve” • Focus On Long-Term Investments & Payback • Organic And External Growth • Expense Controls And Revenue Growth • EPS/Stock Price Linkage - Shareholder Focus • Favorable Risk/Return Compared To Peers 52 |