November 18, 2010

VIA EDGAR

Mr. Kevin W. Vaughn

Accounting Branch Chief

Division of Corporation Finance

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549-4561

Re: IBERIABANK Corporation

Form 10-K for Fiscal Year Ended December 31, 2009

Filed March 16, 2010

Form 10-Q for Fiscal Quarter Ended March 31, 2010

Filed May 10, 2010

Form 8-K filed March 4, 2010

File No. 000-25756

Dear Mr. Vaughn:

IBERIABANK Corporation (the “Company”) is in receipt of the letter from the staff (the “Staff”) of the Securities and Exchange Commission, dated October 20, 2010, regarding the above-referenced filings.

To facilitate the Staff’s review, we have included in this letter the captions and numbered comments from the Staff’s comment letter and have provided our responses immediately following each comment in bold.

1. We note in your response to comment 11 included in your July 30, 2010 response letter and your revised disclosure related to non-accretable and accretable yield from your acquisitions in 2009 on page 12 of the June 30, 2010 Form 10-Q.

a. For your Orion acquisition, please provide us your analysis of the loan portfolio used to support the amount of the initial investment, the accretable yield and non-accretable yield.

Response

See Attachment I - Orion Loan Valuation Cash Flows for the summaries and some examples of various detail valuation schedules used to derive the value of the acquired loan portfolio. The full report is 275 pages long and is available if needed.

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b. Clearly explain the methodology, inputs and key assumptions used in your analysis to measure each key amount.

Response

A discounted cash flow (“DCF”) approach was used to value each pool of performing and non-performing loans. In applying the DCF approach, the fair value of the loan portfolio as of the transaction date was based on the present value of the expected cash flows from the portfolio. This process involved the following work steps:

• The loan portfolio was segmented into pools of loans having similar payment, risk and other characteristics;

• Monthly principal and interest cash flows were projected based on the balance-weighted contractual terms of the loans;

• Projected monthly principal and interest cash flows were adjusted for prepayments and credit loss expectations;

• Monthly principal and interest cash flows were discounted to present value using discount rates taking into consideration the loan pool type, market rates as of the transaction date, credit expectations, liquidity expectations, and the expected life of the loan pool; and,

• The monthly discounted cash flows were summed to arrive at the fair value of the loans.

Principal and Interest Cash flows – For performing loans, monthly principal and interest cash flows were projected based on the payment type (i.e., amortizing or interest only), rate type (fixed or adjustable), weighted average coupon, weighted average term to re-price, weighted average maturity, and weighted average margin of each loan pool. For non-performing loans (classified as “non-accrual”), no interest cash flows were assumed and principal cash flows were projected based on the amount and timing of expected recoveries, taking into consideration the loan losses expected for each non-performing loan pool.

Prepayment Rates – Prepayment rates were based on the type of loan using market data and our valuation firm’s proprietary information gleaned from their valuation of similar loan portfolios. For commercial loans, the funded portion of fixed rated HELOCs, and the funded portion of variable rate HELOCs, we assumed constant prepayment rates (“CPR”) of 5 percent, 21 percent and 9 percent, respectively. For consumer loans, we assumed a CPR of 16 percent based on information observed on securitized consumer loan portfolios as obtained from a third party source (i.e., Bloomberg). For the various residential mortgage products, prepayment rates were based on information obtained from the Office of Thrift Supervision. Finally, for construction loans, there was no expectation of prepayments assumed.

Credit Adjustment – The Company reviewed the loan portfolio on an individual loan level basis and estimated the expected credit loss on each loan by determining the likelihood of default on each loan and the expected loss given default after taking

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into consideration the underlying collateral on the respective loan. The Company also estimated the expected timing of credit losses, which was generally based on a “days past due” criteria. This loan level expected credit loss information was then aggregated to derive credit loss expectations for each loan pool.

Discount Rate – For performing loans, discount rates were determined using either current market loan rates or a build-up approach. For all variable rate loans, discount rates were based on the weighted average index rate (e.g. prime, LIBOR, etc.) and the weighted average margin applicable for each variable rate loan pool. The weighted average margin was increased 200bp to reflect current pricing in the market as compared to when the loans were originated. Because market-based loan rates invariably include an imbedded credit loss component, a credit adjustment was subtracted in order to avoid the duplication of credit adjustment already being incorporated as an adjustment to the cash flows. For fixed rate loans, discount rates were based on a build-up approach. The build-up approach constructs a discount rate incorporating components such as a risk free rate, funding cost, and servicing costs. For all discount rates, a liquidity discount was applied to account for the incremental level of illiquidity currently experienced in the market and to provide relevant consideration of value under ASC §820. For non-performing loans, the discount rate equated to a cost-of-carry.

c. Please tell us if your initial investment in acquired loans was measured based on the fair value of the loans. Please explain how you factored risks other than credit (liquidity, market, etc) in your measurement of the initial investment.

Response

Our initial investment in acquired loans was measured based on the fair value of the loans. The following is our explanation of our measurement of the initial investment including how we factored risks other than credit (liquidity, market, etc.).

Non-credit related risks such as illiquidity and market were reflected in the discount rates used in the loan valuation. As discussed in (b) above, a liquidity component was added to the discount rate to account for the incremental level of illiquidity currently experienced in the market. The liquidity discount was derived by examining the spread between AAA-rated securities and treasury securities. Given the relatively nominal default risk of AAA-rated securities, the spread between the yields on these securities was primarily considered to be related to illiquidity and deemed to be a relevant estimate of the current liquidity issues in the market. In addition to illiquidity, the margin component of the discount rate used for variable rate loans was increased 200bp to reflect current pricing in the market as compared to when the loans were originated.

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d. Please tell us whether your estimate of cash flows expected at acquisition was discounted or undiscounted.

Response

The Company’s estimate of cash flows was discounted as described above in (b) above, projected principal and interest cash flows, adjusted for prepayments and expected credit losses, were discounted using an appropriate risk-adjusted discount rate.

e. It appears you used a discounted cash flow methodology to measure your initial investment, please tell us the discount rate used, how you determined it, and tell us whether the discount rate was the effective interest rate of the loans.

Response

The Company used a discounted cash flow methodology to measure our initial investment as described above in (b) above, for performing loans, discount rates were determined using either current market loan rates (i.e., new loan rates) or a build-up approach (see attached for summary of discount rates by loan pool). For non-performing loans, the projected principal recovery amounts were discounted to present value by a cost-of-carry equal to the yield on BBB-rated securities.

Refer to Attachment II - Orion Loan Discount Rates.

2. We note in your response to comment 12 included in your July 30, 2010 response letter. Based on amounts presented in the operation section of your statements of cash flows, it appears that you had a non-cash loss of $26,168 during the Q2 after having a non-cash gain of $64,770 in Q1 related to the amortization of your purchase accounting adjustments. Please explain to us the nature of the purchase accounting adjustments that resulted in the losses/gains, explain why they resulted in the losses/gains during the periods on 2010, identify the line items in your income statement that are affected, and discuss your expectations related to this trend for future periods.

Response

The nature of the purchase accounting adjustments, as well as the financial statement line items affected and the quantification of their affect, are included in the following schedule.

Summary of Amortization of Purchase Accounting Adjustments		(Dollars in thousands)
		For the three-month period ended						For the six-month period ended
Nature of purchase accounting adjustment	Financial Statement Line Item	March 31, 2010			June 30, 2010			June 30, 2010
Amortization of Loan fair value	IS - Interest and Dividend Income (Loan Interest Income)		(7,732	)		(11,261	)		(18,993	)
Amortization of FDIC loss share receivable	IS - Interest and Dividend Income (Other Interest Income)		(1,762	)		1,141			(621	)
Amortization of Core Deposit Intangible	IS - Noninterest expense (Amortization of Acquisition Intangibles)		1,010			1,269			2,279
Amortization of Deposit fair value	IS - Interest expense (Deposits)		(6,941	)		(3,944	)		(10,885	)
Amortization of Long-term Debt fair value	IS - Interest expense (Long-term debt)		(2,261	)		(7,947	)		(10,208	)
Amortization of Trust Preferred Securities fair value	IS - Interest expense (Long-term debt)		(87	)		(87	)		(174	)
Adjustment of Loan and FDIC loss share receivable fair value	BS - Loans covered by loss share adjustment		(166,247	)		166,247			-
Adjustment of Loan and FDIC loss share receivable fair value	BS - FDIC loss share receivable		119,250			(119,250	)		-
	Total Amortization of Purchase Accounting Adjustments as Presented		(64,770	)		26,168			(38,602	)

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In Q1, the Company included all non-cash purchase accounting adjustments in this line item in the Consolidated Statement of Cash Flows. After the Company received your letter dated July 30, 2010 and analyzed your comment 12, the Company found that we had included the adjustments of covered loan and FDIC loss share receivable in this line. During our review of your comment and then researching the entries made in the first quarter, these two items should not have been included in the line item listed as “Amortization of purchase accounting adjustments”.

In Q2, the Company removed these amounts from the line item listed as “Amortization of purchase accounting adjustments” and moved them to their more appropriate locations on the Consolidated Statement of Cash Flows in the lines labeled “Other operating activities” and “Increase (Decrease) in loans receivable, net, excluding loans acquired”.

The movement of these two items has the appearance of a non cash loss of $26,168 during the Q2 period, which includes a net $46,997 in non-cash adjustments of loan and FDIC loss share receivable in the first quarter.

These non-cash adjustments had no effect on the reported quarterly and year-to-date earnings as there was no impact to the Consolidated Statements of Income, nor was there an impact on the Consolidated Balance Sheets as of March 31, 2010 and June 30, 2010. The total increase in cash and cash equivalents reported on the Consolidated Statements of Cash Flows was also not impacted.

The remaining gains and losses included in this line item resulted from amortization of the fair value adjustments recorded at acquisition.

For amortization of the Company’s fair value adjustment on the acquired core deposit intangible asset, deposits, and long-term-debt, the Company expects to amortize the purchase accounting adjustments according to the method and length of time disclosed in Footnote 3 to its consolidated financial statements for the year ended December 31, 2009 on Form 10-K and Footnote 4 to its consolidated financial statements for the three and nine-month periods ended September 30, 2010 on Form 10-Q. The Company does not anticipate material changes to the amortization of these fair values in future periods.

For amortization of the Company’s fair value adjustments on the acquired loan portfolios and loss share receivable assets, the Company will amortize into earnings the estimated portion of income earned based on current estimates of expected cash flow from the Company’s acquired portfolios. Amortization of the fair value adjustments into income

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will vary between periods based on these expected cash flows, and if expected cash flows increase for the covered loan portfolio, the Company will recognize additional income over the life of the covered loans. As a result, future amortization of these loan discounts may differ from the amounts reported in previous periods.

In addition to our responses above, your letter requests a written statement from us with certain acknowledgements.

We therefore acknowledge:

• we are responsible for the adequacy and accuracy of the disclosures in our filings,

• staff comments or changes to disclosures in response to staff comments do no foreclose the Commission from taking any action with respect to the filing, and,

• we may not assert staff comments as defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.

We appreciate your comments and guidance in regard to the financial statements and related disclosures in light of the myriad of changes in these areas and our continuing goal to enhance our overall disclosure. Please feel to contact me if additional information is required.

Sincerely,

<s> Anthony J. Restel,

Anthony J. Restel

Executive Vice President and

Chief Financial Officer

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ATTACHMENT I

IBERIABank										Schedule 6
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009
			Valuation Loan Summary
Loan Type	Exhibit Reference		Outstanding Principal Balance(1)		Fair Value		Premium/   (Discount)		% Premium/ (Discount)
Performing Loans		Schedule 6A		1,509,343,698		897,447,179		(611,896,519)		-40.5%
Non-Performing Loans		Schedule 6B		306,690,227		63,646,551		(243,043,676)		-79.2%
Total				1,816,033,925		961,093,730		(854,940,195)		-47.1%

IBERIABank	Schedule 6A
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Loan Summary												Memo Item: Valuation  Components
Loan		Exhibit	Outstanding Principal		Fair		Premium/		% Premium/			Absolute Credit		Non-Credit  Premium/ (Discount)
Pool	Loan Type	Reference	Balance		Value		(Discount)		(Discount)			Adjustment (1)		USD (2)		%
1	Commercial - Fixed - I/O	Schedule 6A.1		1,317,170		1,299,366		(17,804)		(1.4	%)		(4,547)		(13,257)		(1.0%)
2	Commercial - Fixed	Schedule 6A.2		15,810,779		13,539,097		(2,271,682)		(14.4	%)		(2,141,946)		(129,735)		(0.8%)
3	Commercial - Fixed -Tax Exempt	Schedule 6A.3		1,197,388		792,184		(405,204)		(33.8	%)		(438,634)		33,430		2.8%
4	Commercial Real Estate -Fixed - I/O	Schedule 6A.4		118,459,832		41,602,796		(76,857,036)		(64.9	%)		(77,416,289)		559,252		0.5%
5	Commercial Real Estate - Fixed	Schedule 6A.5		220,713,459		143,694,308		(77,019,151)		(34.9	%)		(77,550,668)		531,517		0.2%
6	Commercial Real Estate - Fixed - SOP 03-3	Schedule 6A.6		2,285,653		170,340		(2,115,313)		(92.5	%)		(2,160,902)		45,590		2.0%
7	Commercial Real Estate - Construction - Fixed	Schedule 6A.7		12,503,680		9,076,807		(3,426,873)		(27.4	%)		(3,492,490)		65,617		0.5%
8	Commercial Real Estate - Tax Exempt Fixed I/O	Schedule 6A.8		1,142,744		179,999		(962,745)		(84.2	%)		(971,332)		8,587		0.8%
9	Commercial Real Estate - Tax Exempt - Fixed	Schedule 6A.9		1,481,593		1,469,460		(12,133)		(0.8	%)		(26,736)		14,604		1.0%
10	Consumer Loans - Fixed I/O	Schedule 6A.10		2,526,069		1,987,680		(538,389)		(21.3	%)		(598,579)		60,190		2.4%
11	Consumer Loans - Fixed	Schedule 6A.11		3,241,732		1,607,538		(1,634,194)		(50.4	%)		(1,717,454)		83,259		2.6%
12	Consumer Real Estate Fixed I/O	Schedule 6A.12		859,773		788,469		(71,304)		(8.3	%)		(79,999)		8,696		1.0%
13	Consumer Real Estate - Fixed	Schedule 6A.13		6,806,563		5,253,874		(1,552,689)		(22.8	%)		(1,422,047)		(130,642)		(1.9%)
14	Consumer Real Estate Fixed SOP 03-3	Schedule 6A.14		527,133		129,602		(397,531)		(75.4	%)		(402,918)		5,387		1.0%
15	Consumer Real Estate Other - Fixed I/O	Schedule 6A.15		30,583,370		16,831,351		(13,752,019)		(45.0	%)		(14,471,207)		719,187		2.4%
16	Consumer Real Estate Other - Fixed	Schedule 6A.16		27,530,800		17,230,154		(10,300,646)		(37.4	%)		(10,850,358)		549,712		2.0%
17	Consumer Real Estate Other Fixed SOP 03-3	Schedule 6A.17		1,060,471		161,968		(898,503)		(84.7	%)		(901,400)		2,897		0.3%
18	Home Equity LOC - Fixed I/O	Schedule 6A.18		1,002,430		737,456		(264,974)		(26.4	%)		(271,640)		6,666		0.7%
19	Home Equity LOC - Fixed	Schedule 6A.19		3,840,883		375,831		(3,465,052)		(90.2	%)		(3,507,813)		42,761		1.1%
20	Residential Construction Fixed I/O	Schedule 6A.20		4,441,282		4,380,858		(60,424)		(1.4	%)		(56,250)		(4,174)		(0.1%)
21	Residential Construction Fixed	Schedule 6A.21		138,000		98,473		(39,527)		(28.6	%)		(12,938)		(26,588)		(19.3%)
22	Commercial - I/O	Schedule 6A.22		28,109,775		16,687,268		(11,422,507)		(40.6	%)		(11,028,079)		(394,429)		(1.4%)
23	Commercial	Schedule 6A.23		43,714,606		35,000,198		(8,714,408)		(19.9	%)		(7,040,364)		(1,674,044)		(3.8%)
24	Commercial Real Estate - I/O	Schedule 6A.24		201,397,906		109,749,927		(91,647,979)		(45.5	%)		(88,690,799)		(2,957,179)		(1.5%)
25	Commercial Real Estate - I/O - SOP 03-3	Schedule 6A.25		9,550,000		1,449,780		(8,100,220)		(84.8	%)		(8,117,500)		17,280		0.2%
26	Commercial Real Estate	Schedule 6A.26		320,331,048		169,632,343		(150,698,705)		(47.0	%)		(146,463,804)		(4,234,901)		(1.3%)
27	Commercial Real Estate SOP 03-3	Schedule 6A.27		18,828,039		3,743,307		(15,084,732)		(80.1	%)		(15,115,539)		30,808		0.2%
28	Commercial Real Estate - Construction I/O	Schedule 6A.28		49,752,129		35,009,291		(14,742,838)		(29.6	%)		(13,532,078)		(1,210,761)		(2.4%)
29	Commercial Real Estate - Construction	Schedule 6A.29		52,621,363		35,104,236		(17,517,127)		(33.3	%)		(17,320,464)		(196,662)		(0.4%)
30	Consumer Loans - I/O	Schedule 6A.30		5,546,765		4,714,593		(832,172)		(15.0	%)		(797,906)		(34,265)		(0.6%)
31	Consumer Loans	Schedule 6A.31		6,189,847		2,342,975		(3,846,872)		(62.1	%)		(4,162,888)		316,016		5.1%
32	Consumer Real Estate I/O	Schedule 6A.32		4,005,734		2,546,595		(1,459,139)		(36.4	%)		(1,441,599)		(17,539)		(0.4%)
33	Consumer Real Estate	Schedule 6A.33		111,498,341		85,377,250		(26,121,091)		(23.4	%)		(24,904,830)		(1,216,261)		(1.1%)
34	Consumer Real Estate SOP 03-3	Schedule 6A.34		289,604		209,696		(79,908)		(27.6	%)		(72,401)		(7,505)		(2.6%)
35	Consumer Real Estate Other - I/O	Schedule 6A.35		39,894,918		30,454,391		(9,440,527)		(23.7	%)		(8,349,292)		(1,091,237)		(2.7%)
36	Consumer Real Estate Other	Schedule 6A.36		73,462,874		41,202,998		(32,259,876)		(43.9	%)		(34,013,332)		1,753,455		2.4%
37	Consumer Real Estate Other SOP 03-3	Schedule 6A.37		924,883		215,912		(708,971)		(76.7	%)		(730,099)		21,125		2.3%
38	Credit Cards	Schedule 6A.38		356,442		244,299		(112,143)		(31.5	%)		(113,629)		1,487		0.4%
39	Home Equity LOC - I/O	Schedule 6A.39		65,001,947		49,055,385		(15,946,562)		(24.5	%)		(12,472,801)		(3,473,762)		(5.3%)
40	Home Equity LOC	Schedule 6A.40		19,990,125		13,032,370		(6,957,755)		(34.8	%)		(6,849,037)		(108,715)		(0.5%)
41	Residential Construction	Schedule 6A.41		406,547		266,754		(139,793)		(34.4	%)		(37,787)		(102,007)		(25.1%)
				1,509,343,698		897,447,179		(611,896,519)		(40.5	%)		(599,750,377)		(12,146,142)		(0.8%)

Notes:

1. Represents the credit mark associated with each loan pool.

2. Represents the difference between the loan premium/(discount) and absolute credit adjustment.

IBERIABank	Schedule 6A.2
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial - Fixed	Loan Pool:	2		Amortization Term:	40
Prin. Balance:	$15,810,779	Rate Type:	Fixed		Maturity Date:	40
Interest Rate:	6.96%	Payment Type:	Amortizing
Payment:	$444,032	Monthly Prepayment Rate:	0.43	%	Monthly Default Estimate:	0.74%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Disc. Rate Interest			Present Value Factor		Pres. Value Cash Flows
Dec-09		$15,810,779		$352,329		$91,703		$67,438		$117,683		$15,273,329		8.386	%		0.9931		$507,921
Jan-10		15,273,329		350,130		88,585		65,146		113,682		14,744,371		8.386	%		0.9862		496,892
Feb-10		14,744,371		347,940		85,517		62,889		109,745		14,223,797		8.386	%		0.9793		486,084
Mar-10		14,223,797		345,762		82,498		60,669		105,870		13,711,495		8.386	%		0.9725		475,497
Apr-10		13,711,495		343,593		79,527		58,484		102,057		13,207,361		8.386	%		0.9658		465,124
May-10		13,207,361		341,436		76,603		56,334		98,305		12,711,286		8.386	%		0.9591		454,960
Jun-10		12,711,286		339,290		73,725		54,218		94,613		12,223,166		8.386	%		0.9524		445,002
Jul-10		12,223,166		337,152		70,894		52,136		90,979		11,742,898		8.386	%		0.9458		435,246
Aug-10		11,742,898		335,024		68,109		50,087		87,405		11,270,383		8.386	%		0.9392		425,686
Sep-10		11,270,383		332,906		65,368		48,072		83,888		10,805,517		8.386	%		0.9327		416,320
Oct-10		10,805,517		330,797		62,672		46,089		80,428		10,348,203		8.386	%		0.9263		407,144
Nov-10		10,348,203		328,697		60,020		44,138		77,024		9,898,345		8.386	%		0.9198		398,152
Dec-10		9,898,345		326,606		57,410		42,220		73,675		9,455,844		8.386	%		0.9134		389,343
Jan-11		9,455,844		324,522		54,844		40,332		70,382		9,020,608		8.386	%		0.9071		380,711
Feb-11		9,020,608		322,447		52,320		38,476		67,142		8,592,543		8.386	%		0.9008		372,254
Mar-11		8,592,543		320,379		49,837		36,650		63,956		8,171,558		8.386	%		0.8946		363,966
Apr-11		8,171,558		318,319		47,395		34,854		60,822		7,757,563		8.386	%		0.8884		355,845
May-11		7,757,563		316,264		44,994		33,088		57,741		7,350,470		8.386	%		0.8822		347,887
Jun-11		7,350,470		314,216		42,633		31,352		54,711		6,950,191		8.386	%		0.8761		340,089
Jul-11		6,950,191		312,173		40,311		29,645		51,732		6,556,642		8.386	%		0.8700		332,446
Aug-11		6,556,642		310,134		38,029		27,966		48,802		6,169,740		8.386	%		0.8639		324,955

IBERIABank	Schedule 6A.2
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial - Fixed	Loan Pool:	2		Amortization Term:	40
Prin. Balance:	$15,810,779	Rate Type:	Fixed		Maturity Date:	40
Interest Rate:	6.96%	Payment Type:	Amortizing
Payment:	$444,032	Monthly Prepayment Rate:	0.43	%	Monthly Default Estimate:	0.74%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Disc. Rate Interest			Present Value Factor		Pres. Value Cash Flows
Sep-11		6,169,740		308,100		35,784		26,316		45,923		5,789,402		8.386	%		0.8580		317,613
Oct-11		5,789,402		306,067		33,579		24,694		43,092		5,415,549		8.386	%		0.8520		310,417
Nov-11		5,415,549		304,037		31,410		23,099		40,309		5,048,104		8.386	%		0.8461		303,360
Dec-11		5,048,104		302,007		29,279		21,532		37,574		4,686,991		8.386	%		0.8402		296,442
Jan-12		4,686,991		299,975		27,185		19,992		34,886		4,332,138		8.386	%		0.8344		289,658
Feb-12		4,332,138		297,942		25,126		18,478		32,245		3,983,474		8.386	%		0.8286		283,002
Mar-12		3,983,474		295,902		23,104		16,991		29,650		3,640,931		8.386	%		0.8228		276,472
Apr-12		3,640,931		293,854		21,117		15,530		27,100		3,304,447		8.386	%		0.8171		270,063
May-12		3,304,447		291,793		19,166		14,095		24,596		2,973,964		8.386	%		0.8115		263,769
Jun-12		2,973,964		289,717		17,249		12,685		22,136		2,649,426		8.386	%		0.8058		257,584
Jul-12		2,649,426		287,617		15,367		11,301		19,720		2,330,788		8.386	%		0.8002		251,502
Aug-12		2,330,788		285,485		13,519		9,942		17,348		2,018,013		8.386	%		0.7947		245,514
Sep-12		2,018,013		283,311		11,704		8,607		15,020		1,711,075		8.386	%		0.7892		239,609
Oct-12		1,711,075		281,072		9,924		7,298		12,736		1,409,969		8.386	%		0.7837		233,771
Nov-12		1,409,969		278,741		8,178		6,014		10,495		1,114,719		8.386	%		0.7783		227,976
Dec-12		1,114,719		276,267		6,465		4,755		8,297		825,400		8.386	%		0.7729		222,185
Jan-13		825,400		273,544		4,787		3,521		6,144		542,191		8.386	%		0.7675		216,318
Feb-13		542,191		270,311		3,145		2,313		4,036		265,531		8.386	%		0.7622		210,181
Mar-13		265,531		265,531		1,540		0		0		0		8.386	%		0.7569		202,139
			$	12,441,386	$	1,670,622	$	1,227,446	$	2,141,946							Fair Value	$	13,539,097

IBERIABank	Schedule 6A.2
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type: Prin. Balance: Interest Rate: Payment: Commercial - Fixed $15,810,779   6.96% $444,032     Loan Pool: Rate Type: Payment Type: Monthly Prepayment Rate:   2 Fixed Amortizing 0.43%   Amortization Term: Maturity Date:   Monthly Default Estimate:   40   40     0.74%  

Month

Beg. of Month UPB

Scheduled Principal

Scheduled Interest

Prepaid Principal

Credit Adjustment

End of Month UPB

Disc. Rate Interest

Present Value Factor

Pres. Value Cash Flows

Principal Outstanding

15,810,779

Loss Severity

13.5

%

Premium/(Discount)

($2,271,682

)

IBERIABank	Schedule 6A.10
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type: Prin. Balance: Interest Rate: Payment: Consumer Loans - Fixed I/O $2,526,0699   5.96% $0     Loan Pool: Rate Type: Payment Type: Monthly Prepayment Rate:   10 Fixed Interest Only 1.44%   Amortization Term: Maturity Date:   Monthly Default Estimate:   16   16     2.00%  

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Disc. Rate Interest		Present Value Factor		Pres. Value Cash Flows
Dec-09		$2,526,069		$0		$12,546		$36,437		$50,399		$2,439,233		4.195%		0.9965		$48,812
Jan-10		2,439,233		0		12,115		35,184		48,667		2,355,382		4.195%		0.9930		46,970
Feb-10		2,355,382		0		11,698		33,975		46,994		2,274,413		4.195%		0.9896		45,197
Mar-10		2,274,413		0		11,296		32,807		45,378		2,196,227		4.195%		0.9861		43,492
Apr-10		2,196,227		0		10,908		31,679		43,819		2,120,730		4.195%		0.9827		41,850
May-10		2,120,730		0		10,533		30,590		42,312		2,047,828		4.195%		0.9793		40,271
Jun-10		2,047,828		0		10,171		29,539		40,858		1,977,431		4.195%		0.9759		38,752
Jul-10		1,977,431		0		9,821		28,523		39,453		1,909,455		4.195%		0.9725		37,288
Aug-10		1,909,455		0		9,484		27,543		38,097		1,843,815		4.195%		0.9691		35,882
Sep-10		1,843,815		0		9,158		26,596		36,787		1,780,432		4.195%		0.9657		34,528
Oct-10		1,780,432		0		8,843		25,682		35,523		1,719,227		4.195%		0.9623		33,225
Nov-10		1,719,227		0		8,539		24,799		34,302		1,660,126		4.195%		0.9590		31,971
Dec-10		1,660,126		0		8,245		23,946		33,122		1,603,058		4.195%		0.9556		30,763
Jan-11		1,603,058		0		7,962		23,123		31,984		1,547,951		4.195%		0.9523		29,603
Feb-11		1,547,951		0		7,688		22,328		30,884		1,494,739		4.195%		0.9490		28,485
Mar-11		1,494,739		1,494,739		7,424		0		0		0		4.195%		0.9457		1,420,590
				$1,494,739		$156,431		$432,751		$598,579				Fair Value				$1,987,680
														Principal Outstanding				2,526,069
								Loss Severity		23.7%				Premium/(Discount)				($538,389)

IBERIABank	Schedule 6A.22
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial - I/O	Loan Pool:	22	Amortization Term:	19
Prin. Balance:	$28,109,775	Rate Type:	Adjustable	Maturity Date:	19
Interest Rate:	4.43%	Payment Type:	Interest Only	Reprice Term	-
Index:	3.25%
Margin:	0.39%
Projected Interest:	3.64%
Payment:	$0	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	2.85%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Discount Rate			Present Value Factor		Pres. Value Cash Flows
Dec-09		$28,109,775		$0		$85,266		$119,897		$801,216		$27,188,662		6.407	%		0.9947		$204,074
Jan-10		27,188,662		0		82,472		115,968		774,962		26,297,732		6.407	%		0.9894		196,338
Feb-10		26,297,732		0		79,770		112,168		749,567		25,435,997		6.407	%		0.9842		188,896
Mar-10		25,435,997		0		77,156		108,493		725,005		24,602,499		6.407	%		0.9789		181,736
Apr-10		24,602,499		0		74,628		104,937		701,248		23,796,314		6.407	%		0.9737		174,847
May-10		23,796,314		0		72,182		101,499		678,269		23,016,546		6.407	%		0.9686		168,220
Jun-10		23,016,546		0		69,817		98,173		656,043		22,262,329		6.407	%		0.9634		161,844
Jul-10		22,262,329		0		67,529		94,956		634,546		21,532,828		6.407	%		0.9583		155,709
Aug-10		21,532,828		0		65,316		91,844		613,753		20,827,231		6.407	%		0.9532		149,806
Sep-10		20,827,231		0		63,176		88,835		593,641		20,144,755		6.407	%		0.9481		144,128
Oct-10		20,144,755		0		61,106		85,924		574,188		19,484,642		6.407	%		0.9431		138,665
Nov-10		19,484,642		0		59,103		83,108		555,373		18,846,161		6.407	%		0.9381		133,409
Dec-10		18,846,161		0		57,167		80,385		537,174		18,228,602		6.407	%		0.9331		128,352
Jan-11		18,228,602		0		55,293		77,751		519,572		17,631,279		6.407	%		0.9282		123,487
Feb-11		17,631,279		0		53,482		75,203		502,546		17,053,530		6.407	%		0.9232		118,806
Mar-11		17,053,530		0		51,729		72,739		486,079		16,494,712		6.407	%		0.9183		114,303

IBERIABank	Schedule 6A.22
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial - I/O	Loan Pool:	22	Amortization Term:	19
Prin. Balance:	$28,109,775	Rate Type:	Adjustable	Maturity Date:	19
Interest Rate:	4.43%	Payment Type:	Interest Only	Reprice Term	-
Index:	3.25%
Margin:	0.39%
Projected Interest:	3.64%
Payment:	$0	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	2.85%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Discount Rate		Present Value Factor		Pres. Value Cash Flows
Apr-11		16,494,712		0		50,034		70,355		470,151		15,954,206		6.407%		0.9135		109,970
May-11		15,954,206		0		48,394		68,050		454,745		15,431,411		6.407%		0.9086		105,802
Jun-11		15,431,411		15,431,411		46,809		0		0		0		6.407%		0.9038		13,988,876
				$15,431,411		$1,220,429		$1,650,285		$11,028,079						Fair Value		$16,687,268
																Book Value		28,109,775
								Loss Severity		39.2%				Premium/(Discount)				($11,422,507)

IBERIABank	Schedule 6A.23
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial	Loan Pool:	23	Amortization Term:	63
Prin. Balance:	$43,714,606	Rate Type:	Adjustable	Maturity Date:	63
Interest Rate:	4.03%	Payment Type:	Amortizing	Reprice Term	6
Index:	3.07%
Margin:	0.43%
Projected Interest:	3.50%
Payment:	$771,033	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	0.60%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Discount Rate		Present Value Factor		Pres. Value Cash Flows
Dec-09		$43,714,606		$624,225		$146,808		$183,794		$264,082		$42,642,505		6.267%		0.9948		$949,867
Jan-10		42,642,505		619,812		143,208		179,240		257,605		41,585,848		6.267%		0.9896		932,494
Feb-10		41,585,848		615,428		139,659		174,752		251,222		40,544,446		6.267%		0.9845		915,422
Mar-10		40,544,446		611,075		136,162		170,329		244,931		39,518,112		6.267%		0.9794		898,646
Apr-10		39,518,112		606,751		132,715		165,969		238,731		38,506,661		6.267%		0.9743		882,159
May-10		38,506,661		602,457		129,318		161,674		232,620		37,509,909		6.267%		0.9692		865,959
Jun-10		37,509,909		605,839		109,404		157,408		226,599		36,520,064		6.267%		0.9642		841,406
Jul-10		36,520,064		601,283		106,517		153,205		220,619		35,544,956		6.267%		0.9592		825,864
Aug-10		35,544,956		596,761		103,673		149,065		214,729		34,584,402		6.267%		0.9542		810,594
Sep-10		34,584,402		592,271		100,871		144,987		208,926		33,638,218		6.267%		0.9492		795,591
Oct-10		33,638,218		587,814		98,111		140,971		203,210		32,706,223		6.267%		0.9443		780,850
Nov-10		32,706,223		583,389		95,393		137,014		197,580		31,788,239		6.267%		0.9394		766,366
Dec-10		31,788,239		578,997		92,716		133,117		192,034		30,884,092		6.267%		0.9345		752,135
Jan-11		30,884,092		574,636		90,079		129,279		186,572		29,993,605		6.267%		0.9297		738,154
Feb-11		29,993,605		570,306		87,481		125,500		181,193		29,116,607		6.267%		0.9248		724,418
Mar-11		29,116,607		566,007		84,923		121,777		175,895		28,252,927		6.267%		0.9200		710,921

IBERIABank	Schedule 6A.23
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial	Loan Pool:	23	Amortization Term:	63
Prin. Balance:	$43,714,606	Rate Type:	Adjustable	Maturity Date:	63
Interest Rate:	4.03%	Payment Type:	Amortizing	Reprice Term	6
Index:	3.07%
Margin:	0.43%
Projected Interest:	3.50%
Payment:	$771,033	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	0.60%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Discount Rate		Present Value Factor		Pres. Value Cash Flows
Apr-11		28,252,927		561,740		82,404		118,112		170,677		27,402,399		6.267%		0.9153		697,661
May-11		27,402,399		557,503		79,924		114,502		165,539		26,564,855		6.267%		0.9105		684,633
Jun-11		26,564,855		553,296		77,481		110,948		160,479		25,740,131		6.267%		0.9058		671,835
Jul-11		25,740,131		549,120		75,075		107,448		155,497		24,928,067		6.267%		0.9011		659,260
Aug-11		24,928,067		544,973		72,707		104,002		150,591		24,128,500		6.267%		0.8964		646,905
Sep-11		24,128,500		540,855		70,375		100,609		145,761		23,341,275		6.267%		0.8917		634,768
Oct-11		23,341,275		536,767		68,079		97,268		141,006		22,566,234		6.267%		0.8871		622,843
Nov-11		22,566,234		532,708		65,818		93,980		136,324		21,803,223		6.267%		0.8825		611,128
Dec-11		21,803,223		528,677		63,593		90,743		131,714		21,052,088		6.267%		0.8779		599,619
Jan-12		21,052,088		524,675		61,402		87,556		127,177		20,312,681		6.267%		0.8733		588,312
Feb-12		20,312,681		520,701		59,245		84,419		122,710		19,584,851		6.267%		0.8688		577,204
Mar-12		19,584,851		516,754		57,122		81,332		118,313		18,868,452		6.267%		0.8643		566,291
Apr-12		18,868,452		512,835		55,033		78,293		113,985		18,163,338		6.267%		0.8598		555,570
May-12		18,163,338		508,943		52,976		75,302		109,725		17,469,368		6.267%		0.8553		545,038
Jun-12		17,469,368		505,078		50,952		72,358		105,533		16,786,398		6.267%		0.8509		534,690
Jul-12		16,786,398		501,240		48,960		69,461		101,407		16,114,290		6.267%		0.8465		524,525

IBERIABank	Schedule 6A.23
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial	Loan Pool:	23	Amortization Term:	63
Prin. Balance:	$43,714,606	Rate Type:	Adjustable	Maturity Date:	63
Interest Rate:	4.03%	Payment Type:	Amortizing	Reprice Term	6
Index:	3.07%
Margin:	0.43%
Projected Interest:	3.50%
Payment:	$771,033	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	0.60%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Discount Rate		Present Value Factor		Pres. Value Cash Flows
Aug-12		16,114,290		497,427		47,000		66,611		97,347		15,452,905		6.267%		0.8421		514,538
Sep-12		15,452,905		493,640		45,071		63,806		93,352		14,802,107		6.267%		0.8377		504,727
Oct-12		14,802,107		489,879		43,173		61,046		89,420		14,161,762		6.267%		0.8333		495,089
Nov-12		14,161,762		486,143		41,305		58,331		85,552		13,531,737		6.267%		0.8290		485,620
Dec-12		13,531,737		482,431		39,468		55,659		81,746		12,911,901		6.267%		0.8247		476,317
Jan-13		12,911,901		478,743		37,660		53,031		78,001		12,302,126		6.267%		0.8204		467,178
Feb-13		12,302,126		475,079		35,881		50,446		74,318		11,702,283		6.267%		0.8162		458,199
Mar-13		11,702,283		471,439		34,132		47,903		70,694		11,112,247		6.267%		0.8119		449,378
Apr-13		11,112,247		467,821		32,411		45,402		67,130		10,531,894		6.267%		0.8077		440,711
May-13		10,531,894		464,225		30,718		42,942		63,624		9,961,103		6.267%		0.8035		432,195
Jun-13		9,961,103		460,651		29,053		40,522		60,175		9,399,755		6.267%		0.7993		423,828
Jul-13		9,399,755		457,098		27,416		38,143		56,784		8,847,730		6.267%		0.7952		415,607
Aug-13		8,847,730		453,565		25,806		35,804		53,449		8,304,911		6.267%		0.7910		407,529
Sep-13		8,304,911		450,051		24,223		33,503		50,170		7,771,187		6.267%		0.7869		399,590
Oct-13		7,771,187		446,556		22,666		31,242		46,946		7,246,444		6.267%		0.7829		391,789
Nov-13		7,246,444		443,077		21,135		29,019		43,776		6,730,571		6.267%		0.7788		384,121

IBERIABank	Schedule 6A.23
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial	Loan Pool:	23	Amortization Term:	63
Prin. Balance:	$43,714,606	Rate Type:	Adjustable	Maturity Date:	63
Interest Rate:	4.03%	Payment Type:	Amortizing	Reprice Term	6
Index:	3.07%
Margin:	0.43%
Projected Interest:	3.50%
Payment:	$771,033	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	0.60%

Month	Beg. of Month UPB		Scheduled Principal		Scheduled Interest		Prepaid Principal		Credit Adjustment		End of Month UPB		Discount Rate		Present Value Factor		Pres. Value Cash Flows
Dec-13		6,730,571		439,615		19,631		26,833		40,660		6,223,464		6.267%		0.7747		376,584
Jan-14		6,223,464		436,167		18,152		24,685		37,596		5,725,016		6.267%		0.7707		369,175
Feb-14		5,725,016		432,731		16,698		22,573		34,585		5,235,126		6.267%		0.7667		361,889
Mar-14		5,235,126		429,306		15,269		20,498		31,626		4,753,696		6.267%		0.7627		354,724
Apr-14		4,753,696		425,889		13,865		18,459		28,717		4,280,631		6.267%		0.7588		347,675
May-14		4,280,631		422,475		12,485		16,456		25,859		3,815,841		6.267%		0.7548		340,739
Jun-14		3,815,841		419,060		11,130		14,488		23,052		3,359,242		6.267%		0.7509		333,909
Jul-14		3,359,242		415,637		9,798		12,555		20,293		2,910,756		6.267%		0.7470		327,179
Aug-14		2,910,756		412,198		8,490		10,657		17,584		2,470,317		6.267%		0.7431		320,540
Sep-14		2,470,317		408,728		7,205		8,793		14,923		2,037,873		6.267%		0.7393		313,982
Oct-14		2,037,873		405,204		5,944		6,964		0		1,625,705		6.267%		0.7354		307,487
Nov-14		1,625,705		404,652		4,742		5,208		0		1,215,845		6.267%		0.7316		303,322
Dec-14		1,215,845		404,102		3,546		3,462		0		808,281		6.267%		0.7278		299,204
Jan-15		808,281		403,552		2,357		1,726		0		403,003		6.267%		0.7240		295,134
Feb-15		403,003		403,003		1,175		0		0		0		6.267%		0.7203		291,111

IBERIABank	Schedule 6A.23
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Discounted Cash Flow Approach Detail

Loan Type:	Commercial	Loan Pool:	23	Amortization Term:	63
Prin. Balance:	$43,714,606	Rate Type:	Adjustable	Maturity Date:	63
Interest Rate:	4.03%	Payment Type:	Amortizing	Reprice Term	6
Index:	3.07%
Margin:	0.43%
Projected Interest:	3.50%
Payment:	$771,033	Monthly Prepayment Rate:	0.43%	Monthly Default Estimate:	0.60%

Month

Beg. of Month UPB

Scheduled Principal

Scheduled Interest

Prepaid Principal

Credit Adjustment

End of Month UPB

Discount Rate

Present Value Factor

Pres. Value Cash Flows

$31,813,061

$3,525,789

$4,861,181

$7,040,364

Fair Value

$35,000,198

Book Value

43,714,606

Loss Severity

16.1%

Premium/(Discount)

($8,714,408)

IBERIABank	Schedule 6B
Orion Bank
Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Non-Performing Loans Summary
Loan Pool	Loan Type	Outstanding Principal Balance		Estimated Loan Loss (1)			Estimated Recovery Amount		Estimated Recovery Term (mos)		Discount Rate (2)			Present Value Factor		Fair Value		Premium/ (Discount)
42	Commercial Real Estate - I/O		1,310,000		75	%		$327,500		29		4.11	%		0.9057		$296,616		($1,013,384	)
43	Commercial Real Estate - Fixed - I/O		536,000		100	%		$0		29		4.11	%		0.9057		$0		($536,000	)
44	Commercial Real Estate		237,978		60	%		$95,650		23		3.81	%		0.9297		$88,922		($149,056	)
45	Commercial Real Estate SOP 03-3		6,078,256		75	%		$1,514,549		5		3.36	%		0.9861		$1,493,552		($4,584,703	)
46	Commercial Real Estate Construction - Fixed		4,034,858		100	%		$0		29		4.11	%		0.9057		$0		($4,034,858	)
47	Commercial Real Estate - Construction - Fixed		623,738		100	%		$0		5		3.36	%		0.9861		$0		($623,738	)
48	Consumer Loans - Fixed SOP 03-3		198,363		100	%		$0		5		3.36	%		0.9861		$0		($198,363	)
49	Consumer Real Estate - Fixed SOP 03-3		1,857,243		82	%		$340,845		5		3.36	%		0.9861		$336,120		($1,521,123	)
50	Consumer RE Other - Fixed I/O SOP 03-3		1,892,242		83	%		$319,900		5		3.36	%		0.9861		$315,465		($1,576,777	)
51	Consumer RE Other - Fixed		17,090		85	%		$2,563		17		3.45	%		0.9524		$2,441		($14,648	)
52	Consumer RE Other - Fixed SOP 03-3		4,622,999		63	%		$1,707,630		5		3.36	%		0.9861		$1,683,957		($2,939,042	)
53	Commercial I/O		124,116		100	%		$0		29		4.11	%		0.9057		$0		($124,116	)
54	Commercial		3,066,868		100	%		$0		5		3.36	%		0.9861		$0		($3,066,868	)
55	Commercial -Tax Exempt		27,296		100	%		$0		29		4.11	%		0.9057		$0		($27,296	)
56	Commercial RE I/O		37,720,183		90	%		$3,839,811		23		3.81	%		0.9297		$3,569,732		($34,150,451	)
57	Commercial RE I/O SOP 03-3		19,266,886		75	%		$4,806,824		5		3.36	%		0.9861		$4,740,186		($14,526,700	)
58	Commercial RE SOP 03-3		141,699,369		90	%		$14,222,172		5		3.36	%		0.9861		$14,025,006		($127,674,363	)
59	Commercial RE Construction I/O		32,209,894		35	%		$20,936,431		23		3.81	%		0.9297		$19,463,834		($12,746,060	)
60	Commercial RE Construction SOP 03-3		22,670,209		73	%		$6,042,529		5		3.36	%		0.9861		$5,958,760		($16,711,449	)
61	Consumer Loans I/O		1,499,804		80	%		$299,961		29		4.11	%		0.9057		$271,674		($1,228,131	)
62	Consumer RE I/O SOP 03-3		393,940		50	%		$198,595		5		3.36	%		0.9861		$195,842		($198,099	)
63	Consumer RE SOP 03-3		4,952,247		47	%		$2,622,301		5		3.36	%		0.9861		$2,585,947		($2,366,299	)
64	Consumer RE Other Payment		912,377		100	%		$0		29		4.11	%		0.9057		$0		($912,377	)
65	Consumer RE Other I/O		2,588,903		72	%		$724,372		5		3.36	%		0.9861		$714,330		($1,874,572	)
66	Consumer RE Other		1,107,570		100	%		$0		23		3.81	%		0.9297		$0		($1,107,570	)
67	Consumer RE Other SOP 03-3		13,037,608		58	%		$5,418,712		5		3.36	%		0.9861		$5,343,590		($7,694,018	)
68	Home Equity LOC I/O		1,273,644		25	%		$955,233		29		4.11	%		0.9057		$865,152		($408,492	)
69	Home Equity LOC I/O SOP 03-3		1,265,690		41	%		$740,643		5		3.36	%		0.9861		$730,375		($535,315	)
70	Home Equity LOC		974,500		25	%		$730,875		29		4.11	%		0.9057		$661,951		($312,549	)

IBERIABank	Schedule 6B
Orion Bank
Valuation of Loan Portfolio
Valuation Date: November 13, 2009

Non-Performing Loans Summary
Loan Pool	Loan Type	Outstanding Principal Balance		Estimated Loan Loss (1)			Estimated Recovery Amount		Estimated Recovery Term (mos)		Discount Rate (2)			Present Value Factor		Fair Value		Premium/ (Discount)
71	Home Equity LOC SOP 03-3		409,813		25	%		$307,360		5		3.36	%		0.9861		$303,099		($106,714	)
72	Overdrafts		80,544		100	%		$0		29		4.11	%		0.9057		$0		($80,544	)
			$306,690,227					$66,154,457									$63,646,551		($243,043,676	)

Note:

1. Represents the percentage of expected credit losses for each loan pool derived from information provided by Management.

2. Represents interest rate of BBB investment grade bonds matched to the maturity of the estimated recovery term.

ATTACHMENT II

IBERIABank	Schedule 6C
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

		Discount Rate Summary Schedule
				New Loan Rate												Build-Up
Loan Pool	Loan Type	Selected Loan Term (1)		Margin(2)			Index(3)			Normalized Charge-off  (4)			Liquidity Discount (5)			Risk free Rate (6)			Funding Cost (7)			Servicing Cost(7)			Discount Rate (8)
1	Commercial - Fixed - I/O		7		0.00	%		0.00	%		0.00	%		1.65	%		0.22	%		2.25	%		3.06	%		7.19	%
2	Commercial - Fixed		40		0.00	%		0.00	%		0.00	%		1.65	%		1.43	%		2.25	%		3.06	%		8.39	%
3	Commercial - Fixed -Tax Exempt		45		0.00	%		0.00	%		0.00	%		1.65	%		1.53	%		2.25	%		3.06	%		8.50	%
4	Commercial Real Estate -Fixed - I/O		21		0.00	%		0.00	%		0.00	%		1.65	%		0.64	%		2.25	%		3.35	%		7.89	%
5	Commercial Real Estate - Fixed		36		0.00	%		0.00	%		0.00	%		1.65	%		1.39	%		2.25	%		3.35	%		8.64	%
6	Commercial Real Estate - Fixed - SOP 03-3		18		0.00	%		0.00	%		0.00	%		2.36	%		0.49	%		2.25	%		4.46	%		9.56	%
7	Commercial Real Estate - Construction - Fixed		16		0.00	%		0.00	%		0.00	%		1.65	%		0.42	%		2.25	%		3.24	%		7.56	%
8	Commercial Real Estate - Tax Exempt Fixed I/O		6		0.00	%		0.00	%		0.00	%		1.65	%		0.22	%		2.25	%		3.24	%		7.36	%
9	Commercial Real Estate - Tax Exempt - Fixed		15		0.00	%		0.00	%		0.00	%		1.65	%		0.39	%		2.25	%		3.24	%		7.54	%
10	Consumer Loans - Fixed I/O		16		0.00	%		0.00	%		0.00	%		0.94	%		0.42	%		2.25	%		0.58	%		4.19	%
11	Consumer Loans - Fixed		24		0.00	%		0.00	%		0.00	%		0.94	%		0.85	%		2.25	%		0.58	%		4.63	%
12	Consumer Real Estate Fixed I/O		5		0.00	%		0.00	%		0.00	%		0.94	%		0.19	%		2.25	%		0.46	%		3.84	%
13	Consumer Real Estate - Fixed		145		0.00	%		0.00	%		0.00	%		0.94	%		3.81	%		2.25	%		0.46	%		7.46	%
14	Consumer Real Estate Fixed SOP 03-3		21		0.00	%		0.00	%		0.00	%		1.89	%		0.64	%		2.25	%		0.69	%		5.47	%
15	Consumer Real Estate Other - Fixed I/O		18		0.00	%		0.00	%		0.00	%		0.94	%		0.49	%		2.25	%		0.46	%		4.14	%
16	Consumer Real Estate Other - Fixed		27		0.00	%		0.00	%		0.00	%		0.94	%		0.89	%		2.25	%		0.46	%		4.54	%
17	Consumer Real Estate Other Fixed SOP 03-3		12		0.00	%		0.00	%		0.00	%		1.89	%		0.35	%		2.25	%		0.69	%		5.18	%
18	Home Equity LOC - Fixed I/O		8		0.00	%		0.00	%		0.00	%		0.94	%		0.24	%		2.25	%		2.33	%		5.76	%
19	Home Equity LOC - Fixed		33		0.00	%		0.00	%		0.00	%		0.94	%		1.16	%		2.25	%		2.33	%		6.69	%
20	Residential Construction Fixed I/O		3		0.00	%		0.00	%		0.00	%		1.65	%		0.16	%		2.25	%		3.24	%		7.31	%
21	Residential Construction Fixed		198		0.00	%		0.00	%		0.00	%		1.65	%		4.30	%		2.25	%		3.24	%		11.44	%
22	Commercial - I/O		19		2.39	%		3.25	%		0.89	%		1.65	%		0.53	%		2.25	%		3.06	%		6.41	%
23	Commercial		63		2.43	%		3.07	%		0.89	%		1.65	%		2.35	%		2.25	%		3.06	%		6.27	%
24	Commercial Real Estate - I/O		16		2.75	%		2.98	%		0.08	%		1.65	%		0.42	%		2.25	%		3.35	%		7.31	%
25	Commercial Real Estate - I/O - SOP 03-3		3		2.50	%		3.25	%		0.08	%		2.36	%		0.16	%		2.25	%		4.46	%		8.04	%
26	Commercial Real Estate		89		3.58	%		2.52	%		0.08	%		1.65	%		3.06	%		2.25	%		3.35	%		7.68	%
27	Commercial Real Estate SOP 03-3		89		2.30	%		3.25	%		0.08	%		2.36	%		3.06	%		2.25	%		4.46	%		7.84	%
28	Commercial Real Estate - Construction I/O		16		2.39	%		3.25	%		0.10	%		1.65	%		0.42	%		2.25	%		3.24	%		7.19	%
29	Commercial Real Estate - Construction		6		2.78	%		2.65	%		0.10	%		1.65	%		0.22	%		2.25	%		3.24	%		6.98	%
30	Consumer Loans - I/O		30		2.45	%		3.25	%		1.04	%		0.94	%		1.00	%		2.25	%		0.58	%		5.61	%
31	Consumer Loans		319		4.06	%		0.67	%		1.04	%		0.94	%		4.40	%		2.25	%		0.58	%		4.64	%
32	Consumer Real Estate I/O		322		4.57	%		0.84	%		0.14	%		0.94	%		4.41	%		2.25	%		0.58	%		6.22	%
33	Consumer Real Estate		321		4.52	%		0.89	%		0.14	%		0.94	%		4.41	%		2.25	%		0.46	%		6.22	%
34	Consumer Real Estate SOP 03-3		327		4.25	%		1.09	%		0.14	%		1.89	%		4.41	%		2.25	%		0.69	%		7.09	%
35	Consumer Real Estate Other - I/O		205		3.45	%		1.97	%		0.14	%		0.94	%		4.35	%		2.25	%		0.46	%		6.23	%
36	Consumer Real Estate Other		310		4.63	%		0.84	%		0.14	%		0.94	%		4.40	%		2.25	%		0.46	%		6.28	%

IBERIABank	Schedule 6C
Orion Bank
Preliminary Valuation of Loan Portfolio
Valuation Date: November 13, 2009

		Discount Rate Summary Schedule
				New Loan Rate												Build-Up
Loan Pool	Loan Type	Selected Loan Term (1)		Margin(2)			Index(3)			Normalized Charge-off  (4)			Liquidity Discount (5)			Risk free Rate (6)			Funding Cost (7)			Servicing Cost(7)			Discount Rate (8)
37	Consumer Real Estate Other SOP 03-3		327		4.69	%		0.75	%		0.14	%		1.89	%		4.41	%		2.25	%		0.69	%		7.19	%
38	Credit Cards		3		6.00	%		3.25	%		4.68	%		0.94	%		0.16	%		2.25	%		0.58	%		5.51	%
39	Home Equity LOC - I/O		138		2.44	%		3.06	%		0.19	%		0.94	%		3.80	%		2.25	%		2.33	%		6.26	%
40	Home Equity LOC		307		4.85	%		0.77	%		0.19	%		0.94	%		4.40	%		2.25	%		2.33	%		6.38	%
41	Residential Construction		294		5.25	%		0.32	%		0.14	%		1.65	%		4.40	%		2.25	%		3.24	%		7.08	%

Notes:

1. Reflects the life of the loan pool.

2. Equals weighted average margin for each applicable loan pool.

3. For variable rate loans, equal to the weighted average index for the applicable loan pool

4. Represents normalized net charge-off rate imbedded in the new loan rates.

5. Estimated liquidity discount equal the average spread between the yield on AAA-rated and Treasury securities.

6. Equal to treasury yield, matched to the selected loan term.

7. Represents the average cost to fund and service each loan pool.

8. Equal the sum of the risk free rate, funding cost, servicing cost, and liquidity discount for fixed rate loans equal to of the weighted average origination rate/index, margin, and liquidity discount less normalized net charge-off expectations for variable rate loans.