8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 13, 2006

IBERIABANK CORPORATION

(Exact name of Registrant as Specified in Charter)

Louisiana	0-25756	72-1280718
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

200 West Congress Street, Lafayette, Louisiana 70501

(Address of Principal Executive Offices)

(337) 521-4003

Registrant’s telephone number, including area code

NOT APPLICABLE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02    Results of Operations and Financial Condition

On July 13, 2006, the Registrant announced its results of operations for the quarter and six months ended June 30, 2006. A copy of the related press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 7.01    Regulation FD Disclosure

On July 13, 2006, the Registrant reaffirmed management’s expectations regarding earnings per share (“EPS”) in fiscal 2006. A copy of the related press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01    Financial Statements and Exhibits

(c) Exhibits. The exhibit listed in the exhibit index is furnished pursuant to Items 2.02 and 7.01 as part of this Current Report on Form 8-K and is not to be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

IBERIABANK CORPORATION

DATE: July 14, 2006

By:  /s/  Daryl G. Byrd                                 

        Daryl G. Byrd

        President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Exhibit
99.1	Press Release dated July 13, 2006, issued by the Registrant.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

July 13, 2006

Contact:

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

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

IBERIABANK Corporation Reports Second Quarter Earnings

LAFAYETTE, LOUISIANA — IBERIABANK Corporation (NASDAQ: IBKC), the holding company of the 119-year-old IBERIABANK (http://www.iberiabank.com), announced earnings of $8.9 million for the quarter ended June 30, 2006, a 9% increase over the same period in 2005, and fully diluted earnings per share (“EPS”) of $0.89 for the second quarter of 2006, an 8% increase over the same quarter of 2005. The reported EPS for the second quarter of 2006 of $0.89 exceeded the consensus analyst estimate by $0.04 per share.

Highlights For The Quarter Ended June 30, 2006

• Average deposits increased $76 million, or 3%, between the first and second quarters of 2006 (“linked quarter basis”). Similarly, period-end deposits climbed $43 million, or 2%, between March 31, 2006 and June 30, 2006. Period-end deposits increased $344 million, or 17% over a one year time frame, including an $84 million, or 32%, increase in noninterest bearing deposits.

• Average loans increased $58 million, or 3%, on a linked quarter basis. Similarly, period-end loans climbed $77 million, or 4%, between March 31, 2006 and June 30, 2006. As loan growth exceeded deposit growth during the quarter, the Company’s excess liquidity position declined. Over the last year, period end loans increased $203 million, or 11%.

• Asset quality and coverage statistics continue to remain outstanding. Annualized net charge-offs equated to 0.02% of average loans in each of the first and second quarters in 2006. During the quarter just completed, the Company determined a significant portion of the reserve for loan losses taken in the third quarter of 2005 associated with Hurricane Rita was no longer appropriate. As a result of this determination and continued exceptional asset quality of the loan portfolio not affected by the hurricanes the Company recorded a $1.9 million negative loan loss provision in the second quarter of 2006.

• At the end of the second quarter of 2006, the Company sold $42 million in investment securities and recorded a $1.4 million loss on the sale of the securities. The investment securities sold had a weighted average yield of 3.88%. Subsequent to this sale, investment securities with approximately similar durations were purchased yielding an average of 5.53%.

• The Company opened a new full service branch office during the second quarter of 2006, in LaPlace, Louisiana. The Company opened two new offices in late 2005 and four offices in the first half of 2006, or a total of six new offices opened under the Company’s branch expansion initiative. The estimated net after-tax cost of the branch expansion initiative was $0.05 per share in the second quarter of 2006.

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Total assets climbed to $3.0 billion, deposits were $2.4 billion and loans exceeded $2.0 billion at June 30, 2006, for increases of 2%, 2%, and 4%, respectively, compared to March 31, 2006. The Company continued to experience strong deposit growth for the fourth consecutive quarter. Deposit growth during the second quarter of 2006 was concentrated primarily in the Shreveport and Baton Rouge markets.

Total loan growth increased $77 million, or 4%, compared to March 31, 2006. During the period, commercial loans climbed $44 million, or 5%, residential mortgage loans increased $18 million, or 4%, and construction loans grew $6 million, or 24%. Construction loans accounted for less than 2% of total loans and only 13% of total regulatory capital at June 30, 2006. Consumer loans increased $9 million, or 2% during the second quarter.

The tax-equivalent net interest margin declined nine basis points on a linked quarter basis, after decreasing four basis points in the first quarter of 2006. The average yield on earning assets was 5.95% in the second quarter of 2006, a 9 basis point increase on a linked quarter basis. Similarly, the cost of interest bearing liabilities was 2.91%, an increase of 20 basis points. Average noninterest bearing deposits declined $5 million on a linked quarter basis, following $2 million in the first quarter of 2006 and $48 million increase in the fourth quarter of 2005. Increased deposit rate competition was believed to be the primary source of the increase in cost of funds and the nine basis point decline in the margin in the second quarter.

Tax-equivalent net interest income improved $0.3 million, or 1%, on a linked quarter basis. The improvement in net interest income was primarily the result of average earning asset growth of $90 million, or 3%, on a linked quarter basis.

Recruiting And Branch Expansion Initiative Update

The Company reported continued success in recruiting exceptional banking talent. Since June 1, 2005, the Company recruited 40 strategic hires from various regional banking organizations. Revenues associated with this expanded staff are anticipated to materialize in 2006 and beyond. As a result, the financial impact associated with the recruits will likely soften over time as these recruits build their loan and deposit portfolios. The Company believes it has developed a strong loan origination pipeline and continues to attract high quality talent.

Daryl G. Byrd, President and Chief Executive Officer of the Company noted, “We remain keenly focused on recruiting exceptional talent, expanding our distribution system, and gaining high quality clients. I am pleased to report we continue to experience progress on all three fronts.” Byrd continued, “The client and employee disruption associated with large bank mergers in our markets continues to provide our Company with unique opportunities. In addition, the resettlement and long rebuilding process in New Orleans provide us an opportunity to assist our existing client base and prospective clients.”

On September 16, 2005, the Company announced an ambitious branch expansion initiative to purchase land, deploy modular facilities, purchase and install equipment, and staff and train associates for 12 new modular branch units in communities in South Louisiana. A modular banking facility was opened in April 2006 in LaPlace. Five out of six recently opened offices are modular facilities, which are full service and staffed similar to traditional “brick and mortar” facilities. Two modular facilities are currently under construction in Slidell and Prairieville, a suburb of Baton Rouge, with anticipated completion in the next few weeks. Four traditional “brick and mortar” facilities are under construction in Covington, Lafayette, Baton Rouge and Monroe. The Company has also purchased, or has contracts to purchase, land in Shreveport, Metairie, and the Baton Rouge area. The net cost of the branch expansion on EPS was $0.01 in the fourth quarter of 2005, $0.03 in the first quarter, and $0.05 in the second quarter 2006.

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To date, the Company has not experienced difficulties in recruiting talent in association with the branch expansion initiative, despite significant labor shortages in selected areas. Many of the Company’s markets are experiencing the effects of favorable economic conditions enhanced by escalated energy prices and extensive rebuilding work associated with Hurricanes Katrina and Rita.

Expectations For 2006

On November 22, 2005, the Company stated its expectations for the full year 2006 EPS to be in the range of $3.54 to $3.64, excluding the cost of adoption of SFAS 123R regarding expensing stock option plans. The Company anticipates application of SFAS 123R will reduce annual earnings in 2006 by approximately $0.2 million on a pre-tax basis, or $0.02 per share on an after-tax basis.

The Company’s comfort range for 2006 EPS remains in the range of $3.54 to $3.64, excluding any changes in accounting treatment, such as the cost of adoption of SFAS 123R (or $3.52 to $3.62 including SFAS 123R). This comfort range includes the costs anticipated with the Company’s branch expansion initiative and strategic hires, and the impacts of Hurricanes Katrina and Rita. EPS in the third quarter of 2006 is expected to be negatively affected by approximately $0.06 per share, on an after-tax basis, as a result of the branch expansion initiative.

The EPS comfort ranges provided today are based on management’s current information, estimates and assumptions. One major assumption is a sustained flattening of the yield curve in 2006 as indicated in forward interest rate curves. Another major assumption is management’s projected deposit growth of approximately $300 million attributable to Hurricanes Katrina and Rita. Actual levels may be materially higher or lower than projected levels. The Company anticipates providing to the investment community annual EPS guidance for 2007 during the third quarter earnings conference call in October, 2006.

Additional Highlights For The Quarter Ended June 30, 2006

• Net income in the second quarter of 2006 totaled $8.9 million, up 9% compared to one year ago and 10% on a linked quarter basis. Return on average assets (“ROA”) was 1.19% for the second quarter of 2006. Similarly, return on average equity (“ROE”) was 13.19%, and return on average tangible equity was 21.44%.

• Nonperforming assets (“NPAs”) decreased $0.6 million, or 9%, between March 31, 2006 and June 30, 2006, and down 18% compared to one year ago. NPAs as a percentage of total assets were 0.20% at June 30, 2006, compared to 0.23% at March 31, 2006, and 0.27% one year ago. Coverage ratios of nonperforming loans and nonperforming assets at June 30, 2006 were 627% and 597%, respectively.

• Average shareholders’ equity increased $1 million, or less than 1%, on a linked quarter basis. At June 30, 2006, the Company’s equity-to-assets ratio was 8.95%, compared to 9.18% at March 31, 2006, and 9.74% one year ago. Book value per share decreased $0.14 during the quarter to $27.56 at June 30, 2006.

• Tier 1 leverage ratio was 7.46% at June 30, 2006, down slightly from 7.59% at March 31, 2006, and 7.61% one year ago. At June 30, 2006, the Company’s Tier 1 risk-based capital ratio was 10.20%, and the total risk-based capital ratio was 11.46%. The Company purchased 99,834 shares during the second quarter of 2006 under the repurchase program authorized on May 4, 2005, at an average cost of $59.22 per share. Approximately 17,000 shares remain authorized to be purchased under that program.

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• On June 20, 2006, the Company raised the quarterly cash dividend by $0.02 per share to $0.30 per share, an increase of 25% compared to the same quarter last year and a 70% increase over the last three years.

Investment Portfolio And Interest Rate Risk

Average investment portfolio volume increased $32 million on a linked quarter basis to $648 million. On a period-end basis, the investment portfolio declined from $669 million at March 31, 2006 to $620 million at June 30, 2006. The investment portfolio equated to 21% of total assets, down from 23% at March 31, 2006. During the second quarter of 2006, the Company experienced strong loan growth, resulting in a liquidation of short-term investments.

The Company’s investment portfolio lengthened slightly during the quarter. At June 30, 2006, the portfolio had a modified duration of 3.3 years compared to 3.1 years at March 31, 2006. The Company’s investment portfolio has very limited extension risk. Based on modeling at June 30, 2006, a parallel and instantaneous 300 basis point increase in interest rates would extend the portfolio by only 0.1 years. At current projected speeds, the portfolio is expected to generate approximately $61 million in cash flows over the last six months of 2006 and approximately $79 million in each of 2007 and 2008. The portfolio had an unrealized loss of $20.2 million at June 30, 2006, compared to $12.6 million at March 31, 2006. The book yield on the investment portfolio increased eight basis points on a linked quarter basis.

The Company regularly reviews the influence of interest rates on the Company’s profitability and earnings growth prospects. Asset/liability management modeling at June 30, 2006, indicated the Company’s interest rate risk position is fairly balanced. A 100 basis point instantaneous and parallel upward shift in interest rates would be estimated to increase net interest income over 12 months by approximately 0.5%. Similarly, a 100 basis point decrease in interest rates would be expected to increase net interest income by approximately 0.5%. A flattening yield curve, using the forward curve as a guide, would be expected to have an insignificant impact on net interest income compared to the base case scenario of no change in interest rates.

Asset Quality

A comprehensive review during the second quarter of 2006 of the Hurricane Rita impacted loan portfolio indicated a significant improvement in client exposure and risk. As a result, the Company incurred a $1.9 million negative provision during the second quarter of 2006 primarily associated with credits in the Hurricane Rita affected area. In October 2005, the Company announced a reserve allocation of $12.8 million for credits potentially impacted by Hurricane Katrina. The Company continues to monitor progress of clients affected by Hurricane Katrina. Given uncertainties in the New Orleans market, including open concerns about insurance, flood maps, how much of the City of New Orleans will be rebuilt, and the City’s vulnerability through this year’s hurricane season, no change was made in the reserve methodology for Hurricane Katrina-related credits.

Exclusive of hurricane-related issues, the Company’s asset quality continues to be exceptional. The ratio of net charge-offs to average loans was 0.02% in the second quarter equivalent to 0.02% in the first quarter of 2006, and 0.14% one year ago.

The Company believes that it uses a conservative definition of NPAs. The Company considers NPAs to include nonaccruing loans, accruing loans more than 90 days past due, foreclosed assets, and Other Real Estate Owned. NPAs amounted to $6.1 million at June 30, 2006, equal to 0.20% of total assets at June 30, 2006. The allowance for loan losses was 1.79% at June 30, 2006 compared to 1.97% at March 31, 2006. Loans past due 30 days or more (including nonaccruing loans) represented 0.55% of

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total loans, down compared to 0.64% at March 31, 2006. Various segments of the Company’s loan portfolio demonstrated exceptionally low levels of loans past due 30 days or more, including indirect automobile (0.76% of loans), consumer (0.91%), and commercial (0.19%).

Operating Results

Tax-equivalent net interest income increased $0.3 million, or 1%, on a linked quarter basis. The tax-equivalent net interest margin declined nine basis points, but average earning assets climbed $90 million, or 3%, on a linked quarter basis. Average loan growth of $58 million accounted for two-thirds of the growth in average earning assets during the quarter.

Noninterest income in the second quarter of 2006 declined $1.0 million, or 16%, on a linked quarter basis. In the first quarter of 2006, asset sale gains totaled less than $0.1 million. In the second quarter of 2006 the Company recorded the previously mentioned $1.4 million loss on the sale of investment securities. On a linked quarter basis in the second quarter of 2006, service charges on deposit accounts increased $0.2 million, or 8%.

Residential mortgage loan sale gains remained steady on a linked quarter basis at $0.4 million. The volume of mortgage loan originations totaled $70 million in the second quarter of 2006, compared to $49 million in the first quarter of 2006 and $52 million in the fourth quarter of 2005. The pipeline of mortgage loans in process at June 30, 2006 and March 31, 2006 was $84 million compared to $56 million at year-end 2005. During the second quarter of 2006, the Company sold into the secondary market $2 million in residential mortgage loans recently released from construction that were held in the loan portfolio. These loan sales were part of the Company’s stated plan to sell into the secondary market recently originated, mortgage production, including permanent mortgage loans coming out of construction. Unlike many competitors, the Company does not originate and portfolio exotic retail mortgage products, such as negative amortization and option ARMs.

Noninterest expenses increased $0.3 million, or 2% on a linked quarter basis. Salaries and benefit costs declined $0.1 million, or 1% on a linked quarter basis. No significant hurricane-related costs were incurred during the first or second quarters of 2006.

Based on a closing stock price of $57.35 per share on July 13, 2006, the Company’s common stock traded at a price-to-earnings ratio of 16.2 times current consensus analyst estimates of $3.55 per fully diluted EPS for 2006 and 13.9 times the average analyst 2007 estimate of $4.12. This price also equates to 2.08 times June 30, 2006 book value per share of $27.56. On June 20, 2006, the Company increased the quarterly cash dividend to $0.30 per share, payable to shareholders of record as of June 30, 2006. This dividend level equated to an annualized dividend rate of $1.20 per share and an indicated dividend yield of 2.09%.

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 Friday, July 14, 2006, beginning at 8:00 a.m. Central Time by dialing 1-877-209-0397. The confirmation code for the call is 833322. A replay of the call will be available until midnight Central Time on July 21, 2006 by dialing 1-800-475-6701. The confirmation code for the replay is 833322.

IBERIABANK Corporation is one of the oldest financial institutions with continuous operations in the State of Louisiana and the second largest Louisiana-based bank holding company. The Company operates 49 offices located in New Orleans, Baton Rouge, Shreveport, Northeast Louisiana, LaPlace, Houma, and the Acadiana and Northshore regions of Louisiana. The Company’s common stock trades on NASDAQ under the symbol “IBKC” and the Company’s market capitalization is approximately $560 million.

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This press release contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses these non-GAAP 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. 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.

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. 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.

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IBERIABANK CORPORATION

FINANCIAL HIGHLIGHTS

	For The Quarter Ended June 30,								For The Quarter Ended March 31,
	2006			2005			% Change		2006			% Change
Income Data (in thousands):
Net Interest Income	$	22,755		$	21,275		7	%	$	22,420		1	%
Net Interest Income (TE) (1)		23,587			22,080		7	%		23,279		1	%
Net Income		8,855			8,128		9	%		8,046		10	%
Per Share Data:
Net Income - Basic	$	0.95		$	0.88		8	%	$	0.87		9	%
Net Income - Diluted		0.89			0.82		8	%		0.81		9	%
Book Value		27.56			28.00		(2	)%		27.70		(0	)%
Tangible Book Value (2)		17.22			17.23		(0	)%		17.35		(1	)%
Cash Dividends		0.30			0.24		25	%		0.28		7	%
Number of Shares Outstanding:
Basic Shares (Average)		9,354,218			9,233,918		1	%		9,292,156		1	%
Diluted Shares (Average)		9,939,973			9,860,666		1	%		9,884,303		1	%
Book Value Shares (Period End) (3)		9,664,358			9,422,454		3	%		9,692,824		(0	)%
Key Ratios: (4)
Return on Average Assets		1.19	%		1.20	%				1.13	%
Return on Average Equity		13.19	%		12.22	%				12.17	%
Return on Average Tangible Equity (2)		21.44	%		20.26	%				19.92	%
Net Interest Margin (TE) (1)		3.44	%		3.54	%				3.53	%
Efficiency Ratio		62.3	%		57.3	%				59.7	%
Tangible Efficiency Ratio (TE) (1) (2)		59.0	%		54.1	%				56.4	%
Average Loans to Average Deposits		84.3	%		90.4	%				84.6	%
Nonperforming Assets to Total Assets (5)		0.20	%		0.27	%				0.23	%
Allowance for Loan Losses to Loans		1.79	%		1.37	%				1.97	%
Net Charge-offs to Average Loans		0.02	%		0.14	%				0.02	%
Average Equity to Average Total Assets		9.06	%		9.80	%				9.28	%
Tier 1 Leverage Ratio		7.46	%		7.61	%				7.59	%
Dividend Payout Ratio		32.7	%		27.8	%				33.7	%

⁽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 and unreleased shares held by the Employee Stock Ownership Plan 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 repossessed assets.

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

BALANCE SHEET (End of Period)

	June 30,								March 31, 2006			December 31, 2005
	2006			2005			% Change
ASSETS
Cash and Due From Banks	$	63,295		$	48,527		30.4	%	$	50,981		$	66,697
Interest-bearing Deposits in Banks		15,550			13,615		14.2	%		19,012			60,103
Total Cash and Equivalents		78,845			62,142		26.9	%		69,993			126,800
Investment Securities Available for Sale		595,313			548,972		8.4	%		640,445			543,495
Investment Securities Held to Maturity		24,542			31,226		(21.4	)%		28,479			29,087
Total Investment Securities		619,855			580,198		6.8	%		668,924			572,582
Mortgage Loans Held for Sale		13,459			16,546		(18.7	)%		13,057			10,515
Loans, Net of Unearned Income		2,033,136			1,830,070		11.1	%		1,955,961			1,918,516
Allowance for Loan Losses		(36,419	)		(25,102	)	45.1	%		(38,438	)		(38,082	)
Loans, net		1,996,717			1,804,968		10.6	%		1,917,523			1,880,434
Premises and Equipment		64,511			47,548		35.7	%		57,961			55,010
Goodwill and Acquisition Intangibles		100,003			101,436		(1.4	)%		100,286			100,576
Mortgage Servicing Rights		65			133		(50.8	)%		80			96
Other Assets		104,154			95,735		8.8	%		98,529			106,579
Total Assets	$	2,977,609		$	2,708,706		9.9	%	$	2,926,353		$	2,852,592
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	348,796		$	264,439		31.9	%	$	330,264		$	350,065
Interest-bearing Deposits		2,020,098			1,760,201		14.8	%		1,995,794			1,892,891
Total Deposits		2,368,894			2,024,640		17.0	%		2,326,058			2,242,956
Short-term Borrowings		745			119,500		(99.4	)%		745			745
Securities Sold Under Agreements to Repurchase		82,033			41,850		96.0	%		68,274			68,104
Long-term Debt		243,133			243,652		(0.2	)%		243,962			250,212
Other Liabilities		16,422			15,256		7.6	%		18,818			27,006
Total Liabilities		2,711,227			2,444,898		10.9	%		2,657,857			2,589,023
Total Shareholders’ Equity		266,382			263,808		1.0	%		268,496			263,569
Total Liabilities and Shareholders’ Equity	$	2,977,609		$	2,708,706		9.9	%	$	2,926,353		$	2,852,592

INCOME STATEMENT

	For The Three Months Ended June 30,							For The Six Months Ended June 30,
	2006			2005		% Change		2006			2005		% Change
Interest Income	$	39,893		$	33,539	18.9	%	$	77,380		$	64,993	19.1	%
Interest Expense		17,138			12,264	39.7	%		32,205			23,170	39.0	%
Net Interest Income		22,755			21,275	7.0	%		45,175			41,823	8.0	%
Provision for Loan Losses		(1,902	)		630	(401.9	)%		(1,467	)		1,280	(214.6	)%
Net Interest Income After Provision for Loan Losses		24,657			20,645	19.4	%		46,642			40,543	15.0	%
Service Charges		3,242			3,684	(12.0	)%		6,244			6,824	(8.5	)%
ATM / Debit Card Fee Income		859			692	24.1	%		1,659			1,300	27.6	%
BOLI Cash Surrender Value Income		515			505	2.1	%		1,024			961	6.5	%
Gain on Sale of Loans, net		393			549	(28.4	)%		786			1,107	(29.0	)%
Other Gains (Losses)		(1,407	)		182	(874.5	)%		(1,361	)		223	(709.6	)%
Other Noninterest Income		1,656			1,133	46.1	%		3,173			2,412	31.6	%
Total Noninterest Income		5,258			6,745	(22.0	)%		11,525			12,827	(10.2	)%
Salaries and Employee Benefits		9,440			8,233	14.7	%		19,011			16,472	15.4	%
Occupancy and Equipment		2,291			2,034	12.6	%		4,631			3,923	18.1	%
Amortization of Acquisition Intangibles		283			316	(10.6	)%		573			601	(4.6	)%
Other Noninterest Expense		5,448			5,464	(0.3	)%		10,362			10,727	(3.4	)%
Total Noninterest Expense		17,462			16,047	8.8	%		34,577			31,723	9.0	%
Income Before Income Taxes		12,453			11,343	9.8	%		23,590			21,647	9.0	%
Income Taxes		3,598			3,215	11.9	%		6,689			6,219	7.6	%
Net Income	$	8,855		$	8,128	8.9	%	$	16,901		$	15,428	9.5	%
Earnings Per Share, diluted	$	0.89		$	0.82	8.1	%	$	1.71		$	1.58	8.0	%

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

BALANCE SHEET (Average)

	For The Quarter Ended
	June 30, 2006			March 31, 2006			December 31, 2005			September 30, 2005			June 30, 2005
ASSETS
Cash and Due From Banks	$	53,353		$	59,721		$	60,488		$	53,087		$	47,302
Interest-bearing Deposits in Banks		44,704			53,684			29,371			25,384			16,326
Investment Securities		648,391			616,041			560,583			568,356			590,950
Mortgage Loans Held for Sale		11,691			9,566			12,987			15,621			12,436
Loans, Net of Unearned Income		1,989,875			1,931,788			1,895,970			1,854,951			1,836,362
Allowance for Loan Losses		(38,581	)		(38,214	)		(38,070	)		(25,184	)		(25,104	)
Other Assets		263,180			254,909			256,076			246,143			245,432
Total Assets	$	2,972,613		$	2,887,495		$	2,777,405		$	2,738,358		$	2,723,704
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	331,272		$	336,616		$	334,840		$	286,959		$	267,004
Interest-bearing Deposits		2,029,683			1,947,889			1,831,262			1,778,336			1,763,875
Total Deposits		2,360,955			2,284,505			2,166,102			2,065,295			2,030,879
Short-term Borrowings		3,399			751			16,913			86,902			120,138
Securities Sold Under Agreements to Repurchase		76,440			66,371			59,654			46,786			51,805
Long-term Debt		243,462			247,235			255,047			258,090			240,637
Other Liabilities		19,117			20,543			18,624			14,693			13,430
Total Liabilities		2,703,373			2,619,405			2,516,340			2,471,766			2,456,889
Total Shareholders’ Equity		269,240			268,090			261,065			266,592			266,815
Total Liabilities and Shareholders’ Equity	$	2,972,613		$	2,887,495		$	2,777,405		$	2,738,358		$	2,723,704

INCOME STATEMENT

	2006						2005
	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Interest Income	$	39,893		$	37,488		$	35,735		$	34,520		$	33,539
Interest Expense		17,138			15,068			13,802			13,478			12,264
Net Interest Income		22,755			22,420			21,933			21,042			21,275
Provision for Loan Losses		(1,902	)		435			625			15,164			630
Net Interest Income After Provision for Loan Losses		24,657			21,985			21,308			5,878			20,645
Total Noninterest Income		5,258			6,266			6,674			6,640			6,745
Total Noninterest Expense		17,462			17,114			16,943			15,773			16,047
Income (Loss) Before Income Taxes		12,453			11,137			11,039			(3,255	)		11,343
Income Taxes		3,598			3,091			3,126			(1,914	)		3,215
Net Income (Loss)	$	8,855		$	8,046		$	7,913		$	(1,341	)	$	8,128
Earnings (Loss) Per Share, basic	$	0.95		$	0.87		$	0.86		$	(0.15	)	$	0.88
Earnings (Loss) Per Share, diluted	$	0.89		$	0.81		$	0.80		$	(0.15	)	$	0.82
Book Value Per Share	$	27.56		$	27.70		$	27.60		$	27.26		$	28.00
Return on Average Assets		1.19	%		1.13	%		1.13	%		(0.19	)%		1.20	%
Return on Average Equity		13.19	%		12.17	%		12.03	%		(2.00	)%		12.22	%
Return on Average Tangible Equity		21.44	%		19.92	%		20.07	%		(2.74	)%		20.26	%

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

LOANS RECEIVABLE

	June 30,								March 31, 2006			December 31, 2005
	2006			2005			% Change
Residential Mortgage Loans:
Residential 1-4 Family	$	451,476		$	407,726		10.7	%	$	433,260		$	430,111
Construction		31,586			27,329		15.6	%		25,574			30,611
Total Residential Mortgage Loans		483,062			435,055		11.0	%		458,834			460,722
Commercial Loans:
Real Estate		620,760			516,377		20.2	%		580,128			545,868
Business		396,885			332,603		19.3	%		393,293			376,966
Total Commercial Loans		1,017,645			848,980		19.9	%		973,421			922,834
Consumer Loans:
Indirect Automobile		227,406			229,910		(1.1	)%		227,742			229,646
Home Equity		228,955			239,770		(4.5	)%		224,417			230,363
Automobile		23,093			23,711		(2.6	)%		22,668			23,372
Credit Card Loans		7,842			8,123		(3.5	)%		7,705			8,433
Other		45,133			44,521		1.4	%		41,174			43,146
Total Consumer Loans		532,429			546,035		(2.5	)%		523,706			534,960
Total Loans Receivable		2,033,136			1,830,070		11.1	%		1,955,961			1,918,516
Allowance for Loan Losses		(36,419	)		(25,102	)				(38,438	)		(38,082	)
Loans Receivable, Net	$	1,996,717		$	1,804,968				$	1,917,523		$	1,880,434

ASSET QUALITY DATA

	June 30,								March 31, 2006			December 31, 2005
	2006			2005			% Change
Nonaccrual Loans	$	4,340		$	6,558		(33.8	)%	$	4,596		$	4,773
Foreclosed Assets		14			60		(76.9	)%		95			54
Other Real Estate Owned		273			240		13.8	%		128			203
Accruing Loans More Than 90 Days Past Due		1,469			540		172.2	%		1,878			1,003
Total Nonperforming Assets (1)	$	6,096		$	7,398		(17.6	)%	$	6,697		$	6,033
Nonperforming Assets to Total Assets (1)		0.20	%		0.27	%	(25.0	)%		0.23	%		0.21	%
Nonperforming Assets to Total Loans + OREO (1)		0.30	%		0.40	%	(25.8	)%		0.34	%		0.31	%
Allowance for Loan Losses to Nonperforming Loans (1)		627.0	%		353.6	%	77.3	%		593.8	%		659.3	%
Allowance for Loan Losses to Nonperforming Assets (1)		597.4	%		339.3	%	76.1	%		573.9	%		631.3	%
Allowance for Loan Losses to Total Loans		1.79	%		1.37	%	30.6	%		1.97	%		1.98	%
Year to Date Charge-offs	$	1,487		$	2,036		(27.0	)%	$	716		$	5,541
Year to Date Recoveries	$	1,291		$	849		52.1	%	$	637		$	1,895

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

DEPOSITS

	June 30,						March 31, 2006		December 31, 2005
	2006		2005		% Change
Noninterest-bearing Demand Accounts	$	348,796	$	264,439	31.9	%	$	330,264	$	350,065
NOW Accounts		628,335		546,859	14.9	%		637,408		575,379
Savings and Money Market Accounts		584,396		483,057	21.0	%		573,490		554,731
Certificates of Deposit		807,367		730,285	10.6	%		784,896		762,781
Total Deposits	$	2,368,894	$	2,024,640	17.0	%	$	2,326,058	$	2,242,956

IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)

	For The Quarter Ended
	June 30, 2006					June 30, 2005
	Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	472,601		5.49	%	$	432,901		5.32	%
Commercial Loans (TE) (1)		988,018		6.47	%		863,027		5.66	%
Consumer and Other Loans		529,256		7.11	%		540,434		6.75	%
Total Loans		1,989,875		6.41	%		1,836,362		5.90	%
Mortgage Loans Held for Sale		11,691		6.15	%		12,436		5.51	%
Investment Securities (TE) (1)(2)		659,552		4.67	%		592,947		4.43	%
Other Earning Assets		64,863		5.00	%		43,509		3.58	%
Total Earning Assets		2,725,981		5.95	%		2,485,254		5.51	%
Allowance for Loan Losses		(38,581	)				(25,104	)
Nonearning Assets		285,213					263,554
Total Assets	$	2,972,613				$	2,723,704
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts	$	637,921		2.43	%	$	559,752		1.57	%
Savings and Money Market Accounts		593,040		1.85	%		472,989		1.20	%
Certificates of Deposit		798,722		3.67	%		731,134		2.79	%
Total Interest-bearing Deposits		2,029,683		2.75	%		1,763,875		1.97	%
Short-term Borrowings		79,839		2.35	%		171,943		2.42	%
Long-term Debt		243,462		4.47	%		240,637		4.16	%
Total Interest-bearing Liabilities		2,352,984		2.91	%		2,176,455		2.25	%
Noninterest-bearing Demand Deposits		331,272					267,004
Noninterest-bearing Liabilities		19,117					13,430
Total Liabilities		2,703,373					2,456,889
Shareholders’ Equity		269,240					266,815
Total Liabilities and Shareholders’ Equity	$	2,972,613				$	2,723,704
Net Interest Spread	$	22,755		3.04	%	$	21,275		3.26	%
Tax-equivalent Benefit		832		0.12	%		805		0.13	%
Net Interest Income (TE) / Net Interest Margin (TE) (1)	$	23,587		3.44	%	$	22,080		3.54	%

⁽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 Six Months Ended
	June 30, 2006					June 30, 2005
	Average Balance			Average Yield/Rate (%)		Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	466,972		5.46	%	$	428,447		5.33	%
Commercial Loans (TE) (1)		964,656		6.39	%		843,998		5.55	%
Consumer and Other Loans		529,364		7.07	%		531,659		6.71	%
Total Loans		1,960,992		6.35	%		1,804,104		5.84	%
Mortgage Loans Held for Sale		10,634		6.26	%		11,404		5.22	%
Investment Securities (TE) (1)(2)		639,937		4.63	%		581,311		4.43	%
Other Earning Assets		69,615		4.72	%		46,073		3.31	%
Total Earning Assets		2,681,178		5.90	%		2,442,892		5.45	%
Allowance for Loan Losses		(38,399	)				(24,128	)
Nonearning Assets		287,510					256,805
Total Assets	$	2,930,289				$	2,675,569
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts	$	624,826		2.29	%	$	567,564		1.52	%
Savings and Money Market Accounts		577,305		1.75	%		447,688		1.07	%
Certificates of Deposit		786,881		3.55	%		713,741		2.70	%
Total Interest-bearing Deposits		1,989,012		2.63	%		1,728,993		1.89	%
Short-term Borrowings		73,516		2.13	%		181,703		2.24	%
Long-term Debt		245,338		4.41	%		234,370		4.17	%
Total Interest-bearing Liabilities		2,307,866		2.81	%		2,145,066		2.17	%
Noninterest-bearing Demand Deposits		333,929					255,436
Noninterest-bearing Liabilities		19,826					15,673
Total Liabilities		2,661,621					2,416,175
Shareholders’ Equity		268,668					259,394
Total Liabilities and Shareholders’ Equity	$	2,930,289				$	2,675,569
Net Interest Spread	$	45,175		3.09	%	$	41,823		3.28	%
Tax-equivalent Benefit		1,691		0.13	%		1,592		0.13	%
Net Interest Income (TE) / Net Interest Margin (TE) (1)	$	46,866		3.48	%	$	43,415		3.55	%

⁽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 TABLE

(dollars in thousands)

	For The Three Months Ended
	6/30/2006			3/31/2006			6/30/2005
Net Interest Income	$	22,755		$	22,420		$	21,275
Effect of Tax Benefit on Interest Income		832			859			805
Net Interest Income (TE) (1)		23,587			23,279			22,080
Noninterest Income		5,258			6,266			6,745
Effect of Tax Benefit on Noninterest Income		277			274			272
Noninterest Income (TE) (1)		5,535			6,540			7,017
Total Revenues (TE) (1)	$	29,122		$	29,819		$	29,097
Total Noninterest Expense	$	17,462		$	17,114		$	16,047
Less Intangible Amortization Expense		(283	)		(290	)		(316	)
Tangible Operating Expense (2)	$	17,179		$	16,824		$	15,731
Return on Average Equity		13.19	%		12.17	%		12.22	%
Effect of Intangibles (2)		8.25	%		7.75	%		8.04	%
Return on Average Tangible Equity (2)		21.44	%		19.92	%		20.26	%
Efficiency Ratio		62.3	%		59.7	%		57.3	%
Effect of Tax Benefit Related to Tax Exempt Income		(2.3	)%		(2.3	)%		(2.1	)%
Efficiency Ratio (TE) (1)		60.0	%		57.4	%		55.2	%
Effect of Amortization of Intangibles		(1.0	)%		(1.0	)%		(1.1	)%
Tangible Efficiency Ratio (TE) (1) (2)		59.0	%		56.4	%		54.1	%

⁽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.