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): January 28, 2015

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:

x 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

Item 8.01 Other Events

On January 28, 2015, the Registrant announced its results of operations for the three and twelve months ended December 31, 2014. Copies of the related press release and selected supplemental materials are attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit 99.1    -	Press Release reporting fourth quarter and yearly results, dated January 28, 2015, issued by the Registrant.
Exhibit 99.2    -	Selected Supplemental Materials to conference call.

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: January 29, 2015	By:	/s/ Daryl G. Byrd
		Daryl G. Byrd
		President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number
99.1	Press Release reporting fourth quarter results dated January 28, 2015, issued by the Registrant.
99.2	Selected Supplemental Materials to conference call.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

January 28, 2015

Contact:

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

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

IBERIABANK Corporation Reports Fourth Quarter Results

LAFAYETTE, LOUISIANA — IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 127-year-old IBERIABANK (www.iberiabank.com), reported operating results for the fourth quarter ended December 31, 2014. For the quarter, the Company reported income available to common shareholders of $35.9 million, or $1.07 per fully diluted earnings per share (“EPS”). In the fourth quarter of 2014, the Company incurred non-operating income net of costs equal to $2.8 million on a pre-tax basis, or $0.02 per share on an after-tax basis. Excluding non-operating items, EPS in the fourth quarter of 2014 was $1.05 per share on a non-GAAP operating basis (refer to press release supplemental table.)

Daryl G. Byrd, President and Chief Executive Officer, commented, “We are pleased with the financial progress we achieved in the fourth quarter and full year of 2014. For the fourth quarter of 2014, we experienced 21% annualized growth in quarter-end legacy loans combined with a net interest margin increase of four basis points, both of which were above our expectations. In fact, our legacy loan growth in the fourth quarter of 2014 was the second strongest in our Company’s history. In addition, our asset quality measures improved, and we beat our tangible operating efficiency target for the quarter. For the full year 2014, we expanded our average assets by $1.6 billion, or 13%, experienced a 13 basis point improvement in net interest margin, enhanced our asset quality and operating efficiency, and increased operating EPS by 20%. [REDACTED]” *

Byrd continued, “Our efforts to expand our client base in a balanced manner and diversify our geographic mix showed great promise as well in the fourth quarter and full year of 2014. Since year-end 2013, our commercial loans grew 14%, consumer loans increased 25%, and mortgage loans climbed 84%. Of the 21 geographic commercial banking markets we serve, we experienced year-end loan growth in 18 markets and deposit growth in 17 markets, so our growth has been broad-based. During 2014, we entered the Dallas market and greatly expanded our presence in the Acadiana region in Louisiana. We also announced agreements to join forces with exceptional partners based in Tampa, Orlando, and Atlanta.”

Highlights for the fourth quarter of 2014 and December 31, 2014:

• During the fourth quarter of 2014, the Company announced the signing of definitive agreements to acquire by merger Florida Bank Group, Inc. (“Florida Bank Group”) based in Tampa, Florida, Old Florida Bancshares, Inc. (“Old Florida”) based in Orlando, Florida, and Georgia Commerce Bancshares, Inc. (“Georgia Commerce”) based in Atlanta, Georgia. At December 31, 2014, the three pending acquisitions had total assets of $3.0 billion, gross loans of $2.1 billion, and total deposits of $2.5 billion. The Company anticipates closing the transactions in the first and second quarters of 2015, subject to customary closing conditions, including the receipt of regulatory and shareholder approvals.

• The Company’s tangible operating efficiency ratio was 65.9% in the fourth quarter of 2014, up slightly compared to the third quarter of 2014 and better than management’s forecast.

* A complete copy of this press release was previously furnished to the SEC as Exhibit 99.1 to a separate Current Report on Form 8-K dated January 28, 2015.

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• On a linked quarter basis, operating non-interest income increased $0.2 million, or less than 1%, in the fourth quarter of 2014. Mortgage income decreased $0.6 million, or 4%, capital markets income decreased $1.0 million, or 36%, and credit card income increased $0.8 million, or 30%, on a linked quarter basis.

• Total loan growth was $360 million, or 3%, between quarter-ends, while legacy loan growth, which excludes all assets covered under FDIC loss share agreements and other non-covered acquired assets (collectively, “Acquired Assets”), increased $489 million, or 5%, between quarter-ends (21% annualized rate). The loan growth was spread between small business (12%), consumer (22%), and commercial (66%).

• Total deposits increased $143 million, or 1%, between quarter-ends. Core deposits, which excludes time deposits, increased $131 million, or 1% (5% annualized rate). Non-interest-bearing deposits increased $38 million, or 1%, between quarter-ends (5% on an annualized basis).

• The Company’s legacy asset quality remained strong in the fourth quarter of 2014. At December 31, 2014, and excluding Acquired Assets, nonperforming assets (“NPAs”) equated to 0.41% of total assets, loans past due 30 days or more equated to 0.68% of total loans, and classified assets equated to 0.43% of total assets. At year-end 2014, only a single energy-related loan, totaling approximately $30,000, was past due more than 30 days, and the Company experienced no energy-related charge-offs in 2014.

• Net charge-offs totaled $1.8 million in the fourth quarter of 2014, or an annualized 0.06% of average loans. Over the past 12 quarters, net charge-offs averaged 0.05% of average loans. The Company recorded a $6.5 million loan loss provision in the fourth quarter of 2014, compared to $5.7 million in the third quarter of 2014.

• The net interest margin increased four basis points on a linked quarter basis to 3.53%, which was above the previously disclosed guidance range of 3.45%, to 3.50% for the fourth quarter of 2014.

During the Company’s year-end financial statement close process, certain accounting entries recorded in the second and third quarters of 2014 related to the Company’s mortgage banking operation were determined to be incorrect. The errors reduced the mortgage income line in the income statement by $4.4 million in the second quarter of 2014 and increased mortgage income by $1.5 million in the third quarter of 2014. The Company implemented changes to internal processes to reduce the likelihood of similar errors occurring in future periods. The financial information throughout this press release has been adjusted to reflect the correction of those entries. These adjustments had no impact on the financial results in the fourth quarter of 2014 or the full year 2014.

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Table A - Summary Financial Results

	For the Quarter Ended:									Linked Quarter
Selected Financial Data	12/31/2013			9/30/2014			12/31/2014			% Change
Net Income ($ in thousands)	$	25,604		$	30,892		$	35,936			16	%
Per Share Data:
Fully Diluted Earnings	$	0.86		$	0.92		$	1.07			16	%
Operating Earnings (Non-GAAP)		0.87			1.04			1.05			1	%
Pre-provision Operating Earnings (Non-GAAP)		0.97			1.15			1.17			2	%
Tangible Book Value		37.17			37.83			39.11			3	%
										Linked Quarter
	As of and for the Quarter Ended:									Basis Point Change
Key Ratios	12/31/2013			9/30/2014			12/31/2014
Return on Average Assets		0.77	%		0.79	%		0.91	%		12	bps
Return on Average Common Equity		6.62	%		6.78	%		7.78	%		100	bps
Return on Average Tangible Common Equity (Non-GAAP)		9.43	%		10.10	%		11.46	%		136	bps
Net Interest Margin (TE) (1)		3.52	%		3.49	%		3.53	%		4	bps
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) (1)		69.9	%		65.7	%		65.9	%		15	bps
Tangible Common Equity Ratio (Non-GAAP)		8.55	%		8.45	%		8.60	%		15	bps
Tier 1 Leverage Ratio		9.70	%		9.21	%		9.36	%		15	bps
Tier 1 Common Ratio (Non-GAAP)		10.55	%		10.32	%		10.32	%		(0	)bps
Total Risk Based Capital Ratio		12.82	%		12.40	%		12.30	%		(10	)bps
Net Charge-Offs to Average Loans (2)		0.07	%		0.09	%		0.06	%		(3	)bps
Non-performing Assets to Total Assets (2)		0.61	%		0.46	%		0.41	%		(5	)bps

	For the Quarter Ended:
	GAAP						Non-GAAP
Adjusted Selected Key Ratios	12/31/2014			Adjustments (3)			12/31/2014
Return on Average Assets		0.91	%		(0.02	%)		0.89	%
Return on Average Common Equity		7.78	%		(0.20	%)		7.58	%
Return on Average Tangible Common Equity (Non-GAAP)		11.46	%		(0.29	%)		11.17	%
Tangible Efficiency Ratio (TE)(1) (Non-GAAP)		67.5	%		(1.6	%)		65.9	%

⁽¹⁾  Fully taxable equivalent basis.

⁽²⁾  Excluding FDIC Covered Assets and Acquired Assets.

⁽³⁾  Adjusted results exclude the income statement impact of the non-operating items included in Table 11, net of tax where applicable, without adjustment to any balance sheet accounts.

Refer to press release supplemental table for a reconciliation of GAAP and non-GAAP measures.

Operating Results

On a linked quarter basis, average earning assets increased $154 million, or 1%, as average loans increased $262 million, or 2%, average indemnification asset (“IA”) declined $26 million, or 23%, average investment securities increased $97 million, or 5%, and other earning assets decreased $178 million, or 24%. Also on a linked quarter basis, the average earning asset yield increased five basis points, and the cost of interest-bearing liabilities increased two basis points. As a result, the net interest spread increased three basis points, and the net interest margin increased four basis points. Tax-equivalent net interest income increased $3 million, or 2%, as average earning assets and the net interest margin increased on a linked quarter basis.

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Table B - Quarterly Average Yields/Cost ⁽¹⁾

										Linked Quarter
	For Quarter Ended:									Basis Point
	12/31/2013			9/30/2014			12/31/2014			Change
Investment Securities		2.21	%		2.20	%		2.24	%		4	bps
Covered Loans, net of loss share receivable		3.43	%		3.07	%		3.57	%		50	bps
Legacy Loans, net		4.09	%		3.97	%		3.94	%		(3	) bps
Non-Covered Acquired Loans, net		8.71	%		6.63	%		6.94	%		31	bps
Loans & Loss Share Receivable		4.33	%		4.31	%		4.32	%		1	bps
Mortgage Loans Held For Sale		4.06	%		3.90	%		3.95	%		5	bps
Other Earning Assets		0.94	%		0.60	%		0.80	%		20	bps
Total Earning Assets		3.87	%		3.83	%		3.88	%		5	bps
Interest-bearing Deposits		0.39	%		0.39	%		0.41	%		2	bps
Short-Term Borrowings		0.15	%		0.17	%		0.19	%		2	bps
Long-Term Borrowings		3.37	%		2.75	%		2.73	%		(2	) bps
Total Interest-bearing Liabilities		0.47	%		0.46	%		0.48	%		2	bps
Net Interest Spread		3.40	%		3.38	%		3.41	%		3	bps
Net Interest Margin		3.52	%		3.49	%		3.53	%		4	bps

⁽¹⁾ Earning asset yields are shown on a fully taxable-equivalent basis.

During the fourth quarter, the legacy loan yield declined three basis points, while the non-covered acquired loan yield increased 31 basis points and the net covered loan yield (net of IA amortization) increased 50 basis points. The average covered loan volume declined $96 million, or 17%, average non-covered acquired loans declined $62 million, or 4%, and average legacy loans increased $420 million, or 5%. As a result of changes in volumes and yields, the associated net covered income declined slightly on a linked quarter basis. Changes in volumes and yields were influenced by the transfer from covered to non-covered acquired categories of loans associated with the former CapitalSouth loan portfolio as non-single family residential FDIC loss share coverage expired.

On a period-end basis, the IA declined $25 million, or 26%, from $95 million at September 30, 2014, to $70 million at December 31, 2014. The portion of the IA collectible from the FDIC decreased $9 million, or 30%. The portion of the IA collectible from other real estate owned (“OREO”) and customers declined $16 million, or 25%.

Aggregate non-interest income was stable on a linked quarter basis. Excluding non-operating items, operating non-interest income increased $0.2 million, or less than 1%. The primary changes in operating non-interest income on a linked quarter basis were:

• Increased credit card fee income of $0.8 million, or 30%; and

• Increased corporate-owned life insurance income of $1.0 million (most of which was offset by an increase in benefit expense included in non-interest expense); partially offset by

• Decreased capital markets revenue of $1.0 million, or 36%; and

• Decreased mortgage income of $0.6 million, or 4%.

Mortgage income was negatively impacted by $0.6 million lower market value adjustments (a negative $1.1 million adjustment in the fourth quarter of 2014 compared to a $0.5 million negative adjustment in the third quarter of 2014.) The Company experienced unseasonably strong production and sales volumes, as well as favorable pricing dynamics in the fourth quarter of 2014. Mortgage commission and production incentives expense (which is included in non-interest expense) increased $0.1 million, or 3%, on a linked quarter basis.

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In the fourth quarter of 2014, the Company originated $459 million in residential mortgage loans, up $3 million, or 1%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 36% of mortgage loan applications in the fourth quarter of 2014, compared to 25% in the third quarter of 2014. The Company sold $464 million in mortgage loans during the fourth quarter of 2014, down $24 million, or 5%, on a linked quarter basis. The mortgage origination locked pipeline and loans held for sale decreased $33 million, or 19% between September 30, 2014, and December 31, 2014. At January 23, 2015, the locked pipeline was $200 million, up $63 million, or 46%, compared to December 31, 2014. The mortgage loan origination business primarily focuses on retail mortgage loans originated by the Company.

Assets under management at IBERIA Wealth Advisors (“IWA”) were $1.4 billion at December 31, 2014, up 11% compared to September 30, 2014. Revenues for IWA increased 8% on a linked quarter basis, and were up 13% compared to the fourth quarter of 2013. IBERIA Financial Services revenues decreased 13% on a linked quarter basis, and were up 2% compared to the fourth quarter of 2013. The rapid decline in energy prices in the latter half of the fourth quarter of 2014 caused a significant reduction in capital markets activities at IBERIA Capital Partners (“ICP”), partially offset by improved trading and research income. As a result, ICP experienced a $1.0 million, or 36%, decline in revenues on a linked quarter basis.

Non-interest expense decreased $1.0 million, or 1%, on a linked quarter basis, while operating expense increased $2.2 million, or 2%. Operating expense changes included the following on a linked-quarter basis:

• Increased equity compensation expense of $1.2 million due to share price increase;

• Increased corporate-owned life insurance expense of $0.7 million;

• Increased marketing and business development expense of $0.5 million; and

• Increased legal and professional services expense of $0.6 million; partially offset by

• Decreased provision for unfunded commitments of $1.1 million;

• Decreased other credit/loan related expenses of $1.0 million; and

• Decreased payroll tax expense of $0.5 million.

Through the fourth quarter of 2014, the Company essentially completed its targeted run-rate expense savings of $10.7 million. The Company continues to review its operating metrics for future opportunities to improve revenues and reduce expenses.

During the fourth quarter of 2014, the Company realized $2.9 million in tax benefits primarily a result of amending previously filed tax returns for federal and state tax credits not previously claimed. Absent this benefit, the Company’s effective tax rate was 28.1% in the fourth quarter of 2014, a slight increase compared to the third quarter of 2014. The Company considered the tax benefit to be of a non-operating nature.

Loans

Total loans increased $360 million, or 3%, between September 30, 2014, and December 31, 2014. The loan portfolio covered under FDIC loss share protection at December 31, 2014, decreased $80 million, or 15%, compared to September 30, 2014. Excluding covered and Acquired Assets, total loans increased $489 million, or 5% (21% annualized rate), during the fourth quarter. Legacy commercial loans increased $381 million, or 6% (which included $56 million in business banking loan growth, up 7%, or 28% annualized rate), legacy consumer loans increased $77 million, or 4%, and legacy mortgage loans increased $31 million, or 6%, during the quarter. Period-end legacy loan growth during the fourth quarter of 2014 was strongest in the Houston, New Orleans, Birmingham, Lafayette, and Dallas markets. Funded loan origination and renewal mix in the fourth quarter of 2014 was 36% fixed rate and 64% floating rate, and total loans outstanding (excluding nonaccruals) were 48% fixed and 52% floating. Loans and commitments originated and/or renewed during the fourth quarter of 2014 totaled $1.2 billion (up 1% on a linked quarter basis).

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Table C - Period-End Loans ($ in Millions)

	Period-End Balances ($ Millions)						% Change (1)									Mix
	12/31/13		9/30/14		12/31/14		Year/Year			Qtr/Qtr			Annualized			9/30/14			12/31/14
Commercial	$	6,041	$	6,622	$	7,002		16	%		6	%		23	%		60	%		61	%
Consumer		1,833		2,061		2,139		17	%		4	%		15	%		19	%		19	%
Mortgage		414		497		528		27	%		6	%		25	%		4	%		4	%
Legacy Loans	$	8,288	$	9,180	$	9,669		17	%		5	%		21	%		83	%		84	%
Acquired Loans		484		1,377		1,328		174	%		-4	%		-14	%		12	%		12	%
Covered Loans		720		524		444		-38	%		-15	%		-61	%		5	%		4	%
Total Loans	$	9,492	$	11,081	$	11,441		21	%		3	%		13	%		100	%		100	%

⁽¹⁾  Year over Year growth includes the impact of acquisitions.

Energy-related loans outstanding totaled $881 million at December 31, 2014, up $41 million, or 5%, compared to September 30, 2014, and equated to approximately 7.7% of total loans. The Company expects energy-related loans to be less than 6.5% of total loans outstanding upon completion of the previously mentioned pending acquisitions. Exploration and production accounted for 52% of energy loans outstanding and 56% of energy commitments at year-end 2014. Midstream companies accounted for 17% of energy loans and commitments, and service company loans accounted for 31% of energy loans and 27% of energy commitments. Additional information regarding the Company’s energy loan and commitment exposure is provided in the supplemental investor presentation.

In January 2015, the Company announced it will exit the indirect automobile lending business, a service the Company has successfully provided to select automobile dealers in the Company’s footprint for 20 years. The Company concluded compliance risk associated with the indirect automobile lending business in general had become unbalanced relative to potential returns generated by the business on a risk-adjusted basis. At December 31, 2014, the Company’s indirect automobile lending business had approximately $397 million in loans outstanding (3.5% of total loans outstanding) with 12 full-time equivalent employees. Based on current amortization rates and expected maturities, the vast majority of loan relationships will be exited within four years.

Deposits

Total deposits increased $143 million, or 1%, from September 30, 2014 to December 31, 2014. Non-interest-bearing deposits increased $38 million, or 1%, and equated to 26% of total deposits at December 31, 2014. NOW accounts increased $268 million, or 12%, while money market and savings account volume decreased $176 million, or 4%, between September 30, 2014 and December 31, 2014. Time deposits increased $12 million, or 1% between quarter-ends. Period-end deposit growth during the fourth quarter of 2014 was strongest in the Lafayette, Northwest Arkansas, Huntsville, Dallas, and Naples markets.

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Table D - Period-End Deposits ($ in Millions)

	Period-End Balances ($ Millions)						% Change (1)									Mix
	12/31/13		9/30/14		12/31/14		Year/Year			Qtr/Qtr			Annualized			9/30/14			12/31/14
Non-interest	$	2,576	$	3,157	$	3,195		24	%		1	%		5	%		25	%		26	%
NOW Accounts		2,283		2,195		2,463		8	%		12	%		49	%		18	%		19	%
Savings/MMkt		4,167		4,922		4,746		14	%		-4	%		-14	%		40	%		38	%
Time Deposits		1,711		2,104		2,116		24	%		1	%		2	%		17	%		17	%
Total Deposits	$	10,737	$	12,378	$	12,521		17	%		1	%		5	%		100	%		100	%

⁽¹⁾  Year over Year growth includes the impact of acquisitions.

On an average balance and linked quarter basis, non-interest-bearing deposits increased $171 million, or 6%, and interest-bearing deposits increased $120 million, or 1%. The rate on average interest-bearing deposits in the fourth quarter of 2014 was 0.41%, an increase of two basis points on a linked quarter basis.

Other Assets And Funding

Excess liquidity averaged $354 million in the fourth quarter of 2014, down $136 million, or 28%, on a linked quarter basis. The investment portfolio increased $93 million, or 4%, to $2.3 billion on average in the fourth quarter of 2014. On a period-end basis, the investment portfolio equated to $2.3 billion, or 14% of total assets at December 31, 2014, unchanged compared to September 30, 2014. The investment portfolio had an effective duration of 2.9 years at December 31, 2014, compared to 3.2 years at September 30, 2014. The investment portfolio had a $13.3 million unrealized gain at December 31, 2014. The average yield on investment securities increased four basis points on a linked quarter basis to 2.24% in the fourth quarter of 2014. The Company holds in its investment portfolio primarily government agency securities. Municipal securities comprised only 7% of total investments at December 31, 2014. The Company holds for investment no sovereign debt, corporate debt or equity securities, trust preferred securities, or derivative exposure to foreign counterparties.

On a linked quarter basis, average short-term debt decreased $206 million, or 22%, and the cost of short-term debt increased two basis points. Average long-term debt increased $36 million, or 10%, and the cost of debt decreased two basis points to 2.73%. The cost of average interest-bearing liabilities was 0.48% in the fourth quarter of 2014, an increase of two basis points on a linked quarter basis.

Asset Quality

Legacy assets consist of assets originated by the Company and not acquired. To provide additional consistency and transparency for financial reporting of Acquired Assets, the Company divides Acquired Assets into these distinct categories:

1) Acquired Assets that no longer provide FDIC loss share coverage beginning January 1, 2015;

2) Acquired Assets that are scheduled to lose FDIC loss share coverage over the next 12 months;

3) Acquired Assets that will continue to be covered under FDIC loss share coverage beyond the next 12 months;

4) Acquired Assets not covered under FDIC loss share agreements using SOP accounting treatment (in accordance with ASC Topic 310-30); and

5) Acquired Assets not covered under FDIC loss share agreements not using SOP accounting treatment.

Between September 30, 2014 and December 31, 2014, legacy NPAs decreased $5 million, or 7%, due in part to $1 million in former bank branches and related land that were sold out of OREO during the fourth quarter of 2014. At December 31, 2014, those bank-related properties in OREO totaled $12 million, or 20% of total legacy NPAs. Legacy NPAs equated to 0.41% of total assets at December 31, 2014, and 0.33% of total assets excluding bank-related properties.

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Loans past due 30 days or more (including non-accruing loans) increased $15 million, or 29%, and represented 0.68% of total loans at December 31, 2014, compared to 0.55% at September 30, 2014. The increase in past due loans was primarily associated with three specific loan relationships that were past due less than 60 days at year-end 2014. The two largest of these three loans were past due as a result of their maturities and were renewed subsequent to year-end. The third largest of these loans was brought current subsequent to year-end. None of the three loan relationships was impacted by the decline in energy commodity prices.

Table E – Legacy Asset Quality Summary

Excludes the impact of all Acquired Assets (FDIC-assisted acquisitions and other acquisitions, impaired and not impaired)

	For Quarter Ended:									% or Basis Point Change
($ thousands)	12/31/2013			9/30/2014			12/31/2014			Year/Year			Qtr/Qtr
Non-performing Assets	$	73,034		$	61,542		$	56,967			-22	%		-7	%
Note: NPAs excluding Former Bank Properties		63,828			48,808			45,411			-29	%		-7	%
Past Due Loans		66,153			50,505			65,291			-1	%		29	%
Classified Assets		82,199			67,462			59,663			-27	%		-12	%
Non-performing Assets/Assets		0.61	%		0.46	%		0.41	%		(20	) bps		(5	) bps
NPAs/(Loans + OREO)		0.88	%		0.67	%		0.59	%		(29	) bps		(8	) bps
Classified Assets/Total Assets		0.69	%		0.50	%		0.43	%		(26	) bps		(7	) bps
(Past Dues & Non-accruals)/Loans		0.80	%		0.55	%		0.68	%		(12	) bps		13	bps
Provision For Loan Losses	$	4,621		$	4,022		$	4,021			-13	%		0	%
Net Charge-Offs/(Recoveries)		1,366			2,131			1,538			13	%		-28	%
Provision Less Net Charge-Offs	$	3,255		$	1,891		$	2,483			-24	%		31	%
Net Charge-Offs/Average Loans		0.07	%		0.09	%		0.06	%		(1	) bps		(3	) bps
Allowance For Loan Losses/Loans		0.81	%		0.79	%		0.79	%		(2	) bps		(0	) bps
Allowance for Credit Losses to Total Loans		0.95	%		0.92	%		0.91	%		(4	) bps		(1	) bps

Table F provides a breakdown of Acquired Assets under the other five categories pertaining to Acquired Assets and the asset quality performance measures associated with Acquired Assets in each category.

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Table F – Acquired Assets By Portfolio Type ⁽¹⁾

All FDIC-assisted acquisitions and other acquired loans (impaired and not impaired)

	Acquired FDIC Covered Assets									Acquired Non-Covered Assets						Total Acquired Assets
	Non SFR (Losing Loss Share Coverage as of January 1, 2015)			Non SFR (Losing Loss Share Coverage within 12 months)			SFR (Losing Loss Share Coverage 10 years from Acquisition)			SOP Assets (2)			Non-SOP Assets (2)
($ thousands)
Loans, net	$	174,711		$	22,485		$	247,348		$	422,607		$	905,179		$	1,772,330
Other Real Estate Owned		9,596			3,639			10,461			9,007			—			32,703
Allowance for Loan Losses		(29,771	)		(1,710	)		(13,283	)		(8,830	)		(363	)		(53,957	)
Non-accrual loans	$	36,755		$	2,939		$	46,137		$	47,019		$	1,866		$	134,716
Foreclosed assets		825			—			—			44			—			869
Other real estate owned		8,771			3,639			10,462			8,963			—			31,835
Accruing Loans More Than 90 Days Past Due		—			—			368			—			586			954
Non-performing Assets		46,351			6,578			56,967			56,026			2,452			168,374
Total Past Due Loans	$	40,629		$	2,966		$	48,793		$	58,319		$	6,537		$	157,244
Non-performing Assets to Total Loans and OREO		25.15	%		25.18	%		22.10	%		12.98	%		0.27	%		9.33	%
Past Due and Non-accrual Loans to Loans		23.25	%		13.19	%		19.73	%		13.80	%		0.72	%		8.87	%
Provision For Loan Losses	$	974		$	450		$	182		$	(286	)	$	1,154		$	2,474
Net Charge-Offs/(Recoveries)		11			—			—			(11	)		217			217
Provision Less Net Charge-Offs	$	963		$	450		$	182		$	(275	)	$	937		$	2,257
Net Charge-Offs to Average Loans		0.08	%		0.00	%		0.00	%		-0.03	%		0.29	%		0.05	%
Allowance for Loan Losses to Loans		17.04	%		7.61	%		5.37	%		2.09	%		0.04	%		3.04	%
Allowance for Credit Losses to Total Loans		17.04	%		7.61	%		5.37	%		2.09	%		0.04	%		3.04	%
Indemnification asset collectible from the FDIC and OREO	$	—		$	—		$	11,007		$	—		$	—		$	11,007

⁽¹⁾  Amounts in this table are presented gross of discounts unless otherwise noted.

⁽²⁾  The classification of assets acquired from Teche and First Private as SOP or Non-SOP assets is preliminary and subject to change. At December 31, 2014, Teche loans of $33.9 million and $565.5 million are included in SOP and Non-SOP assets, respectively. First Private loans of $264.2 million have been included as Non-SOP loans at December 31, 2014.

Capital Position

The Company maintains favorable capital strength. At December 31, 2014, the Company reported a tangible common equity ratio of 8.60%, up 15 basis points compared to September 30, 2014. At December 31, 2014, the Company’s preliminary Tier 1 leverage ratio was 9.36%, up 15 basis points compared to September 30, 2014. The Company’s preliminary total risk-based capital ratio at December 31, 2014, was 12.30%, down 10 basis points compared to September 30, 2014.

Commencing in the first quarter of 2015, the Company will experience a 50% phase-out of Tier 1 capital treatment for its trust preferred securities with no commensurate change in total regulatory capital. At year-end 2014, the Company experienced the expiration of FDIC loss share protection on non-single family loans associated with three FDIC-assisted transactions. The expiration of FDIC loss share coverage on those assets resulted in increased risk weighting associated with those assets. The influence of the phase-out of Tier 1 treatment on trust preferred securities and the scheduled expiration of certain FDIC loss share coverage is estimated to reduce the Company’s Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk based capital ratio by approximately 36, 54, and 12 basis points, respectively, beginning in 2015.

At December 31, 2014, book value per share was $55.39, up $1.07 per share, or 2%, compared to September 30, 2014. Tangible book value per share was $39.11, up $1.28 per share, or 3%, compared to September 30, 2014. Based on the closing stock price of the Company’s common stock of $55.36 per share on January 28, 2015, this price equated to 1.00 times December 31, 2014 book value and 1.42 times December 31, 2014 tangible book value per share.

9

On December 15, 2014, the Company declared a quarterly cash dividend of $0.34 per share. This dividend level equated to an annualized dividend rate of $1.36 per share and an indicated dividend yield of 2.46%.

IBERIABANK Corporation

The Company is a financial holding company with 280 combined offices, including 188 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 23 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 57 locations in 10 states. The Company has eight locations with representatives of IBERIA Wealth Advisors in five states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.

The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC.” The Company’s market capitalization was approximately $1.9 billion, based on the NASDAQ Global Select Market closing stock price on January 28, 2015.

The following 12 investment firms currently provide equity research coverage on the Company:

• Bank of America Merrill Lynch

• FIG Partners, LLC

• Hovde Group, LLC

• Jefferies & Co., Inc.

• Keefe, Bruyette & Woods, Inc.

• Raymond James & Associates, Inc.

• Robert W. Baird & Company

• Sandler O’Neill + Partners, L.P.

• Stephens, Inc.

• Sterne, Agee & Leach

• SunTrust Robinson-Humphrey

• Wunderlich Securities

Conference Call

In association with this earnings release, the Company will host a live conference call to discuss the financial results for the quarter just completed. The telephone conference call will be held on Thursday, January 29, 2015, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003. The confirmation code for the call is 3712071. A replay of the call will be available until midnight Central Time on February 6, 2015 by dialing 1-877-344-7529. The confirmation code for the replay is 10058635. The Company has prepared a PowerPoint presentation that supplements information contained in this press release. The PowerPoint presentation may be accessed on the Company’s web site, www.iberiabank.com, under “Investor Relations” and then “Presentations.”

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of

10

these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of GAAP to non-GAAP disclosures are included as tables at the end of this release. Refer to press release supplemental table for this reconciliation.

[REDACTED]

Caution About Forward-Looking Statements

This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, including statements related to the expected timing of the closing of the proposed mergers, the expected returns and other benefits of the proposed mergers to shareholders, expected improvement in operating efficiency resulting from the proposed mergers with Georgia Commerce Bancshares, Inc., Old Florida Bancshares, Inc. and Florida Bank Group, Inc., estimated expense reductions resulting from the transactions and the timing of achievement of such reductions, the impact on and timing of the recovery of the impact on tangible book value, and the effect of the mergers on the Company’s capital ratios. Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements, and there can be no assurances that: the proposed mergers will close when expected, the expected returns and other benefits of the proposed mergers to shareholders will be achieved, the expected operating efficiencies will result, estimated expense reductions resulting from the transactions will occur as and when expected, the impact on tangible book value will be recovered or as expected or that the effect on the Company’s capital ratios will be as expected. Factors that could cause or contribute to such differences include, but are not limited to, the possibility that expected benefits may not materialize in the time frames expected or at all, or may be more costly to achieve; that the merger transactions may not be timely completed, if at all; that prior to completion of the merger transactions or thereafter, the parties’ respective businesses may not perform as expected due to transaction-related uncertainties or other factors; that the parties are unable to implement successful integration strategies; that the required regulatory, shareholder, or other closing conditions are not satisfied in a timely manner, or at all; reputational risks and the reaction of the parties’ customers to the merger transactions; diversion of management time to merger-related issues; and other factors and risk influences contained in the cautionary language included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in the Company’s Form 10-K for the fiscal year ended December 31, 2013, and Form 10-Qs for the quarters ended March 31, 2014, June 30, 2014, and September 30, 2014, and other documents subsequently filed by the Company with the SEC. Consequently, no forward-looking statement can be guaranteed. Neither the Company, Georgia Commerce Bancshares, Inc., Old Florida Bancshares, Inc., nor Florida Bank Group, Inc. undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For any forward-looking statements made in this press release or any related documents, the Company, Georgia Commerce Bancshares, Inc., Old Florida Bancshares, Inc. and Florida Bank Group, Inc. claim protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

This communication is being made in respect of the proposed merger transactions involving the Company, Georgia Commerce Bancshares, Inc. and Old Florida Bancshares, Inc. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger with Georgia Commerce Bancshares, Inc., the Company will file with the SEC a registration statement on Form S-4 that will include a proxy statement/prospectus for the shareholders of Georgia Commerce Bancshares, Inc. The Company has filed a registration statement on Form S-4 that includes a proxy statement/prospectus for the shareholders of Old Florida Bancshares, Inc. The Company also plans to file other documents with the SEC regarding the pending merger transactions with Georgia Commerce Bancshares, Inc., Florida Bank Group, Inc. and Old Florida Bancshares, Inc. Georgia Commerce Bancshares, Inc. will mail the final

11

proxy statement/prospectus to its shareholders. Old Florida Bancshares, Inc. has mailed its final proxy statement/prospectus to its shareholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE RELEVANT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. The proxy statement/prospectuses, as well as other filings containing information about the Company, Georgia Commerce Bancshares, Inc., Old Florida Bancshares, Inc. and Florida Bank Group, Inc., will be available without charge, at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectuses and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectuses can also be obtained, when available, without charge, from the Company’s website (http://www.iberiabank.com), under the heading “Investor Information.”

The Company, Georgia Commerce Bancshares, Inc. and Old Florida Bancshares, Inc., and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Georgia Commerce Bancshares, Inc. and Old Florida Bancshares, Inc. in respect of the proposed merger transactions. Information regarding the directors and executive officers of the Company is set forth in the definitive proxy statement for the Company’s 2014 annual meeting of shareholders, as filed with the SEC on April 7, 2014, and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. Information regarding the directors and executive officers of Georgia Commerce Bancshares, Inc. who may be deemed participants in the solicitation of the shareholders of Georgia Commerce Bancshares, Inc. in connection with the proposed transaction will be included in the proxy statement/prospectus for the Georgia Commerce Bancshares, Inc. special meeting of shareholders, which will be filed by the Company with the SEC. Information regarding the directors and executive officers of Old Florida Bancshares, Inc. who may be deemed to be participants in the solicitation of shareholders of Old Florida Bancshares, Inc. in connection with the proposed transaction is included in the proxy statement/prospectus for the Old Florida Bancshares, Inc. special meeting of shareholders, which was filed with the SEC. Additional information regarding the interests of such participants will be included in the proxy statement/prospectuses and other relevant documents regarding the proposed merger transactions filed with the SEC when they become available.

12

Table 1 - IBERIABANK CORPORATION

FINANCIAL HIGHLIGHTS

	For The Quarter Ended December 31,									For The Quarter Ended September 30,
	2014			2013			% Change			2014			% Change
Income Data (in thousands):
Net Interest Income	$	124,680		$	103,438			21	%	$	121,751			2	%
Net Interest Income (TE) (1)		126,735			105,709			20	%		123,885			2	%
Net Income		35,936			25,604			40	%		30,892			16	%
Earnings Available to Common Shareholders - Basic		35,936			25,604			40	%		30,892			16	%
Earnings Available to Common Shareholders - Diluted		35,406			25,148			41	%		30,427			16	%
Per Share Data:
Earnings Available to Common Shareholders - Basic	$	1.08		$	0.86			25	%	$	0.93			16	%
Earnings Available to Common Shareholders - Diluted		1.07			0.86			25	%		0.92			16	%
Operating Earnings (Non-GAAP)		1.05			0.87			21	%		1.04			1	%
Book Value		55.39			51.40			8	%		54.32			2	%
Tangible Book Value (2)		39.11			37.17			5	%		37.83			3	%
Cash Dividends		0.34			0.34			—			0.34			—
Closing Stock Price		64.85			62.85			3	%		62.51			4	%
Key Ratios: (3)
Operating Ratios:
Return on Average Assets		0.91	%		0.77	%					0.79	%
Return on Average Common Equity		7.78	%		6.62	%					6.78	%
Return on Average Tangible Common Equity (2)		11.46	%		9.43	%					10.10	%
Net Interest Margin (TE) (1)		3.53	%		3.52	%					3.49	%
Efficiency Ratio		69.5	%		72.2	%					71.3	%
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) (1) (2)		65.9	%		69.9	%					65.7	%
Full-time Equivalent Employees		2,757			2,576						2,703
Capital Ratios:
Tangible Common Equity Ratio (Non-GAAP)		8.60	%		8.55	%					8.45	%
Tangible Common Equity to Risk-Weighted Assets		10.38	%		10.39	%					10.32	%
Tier 1 Leverage Ratio		9.36	%		9.70	%					9.21	%
Tier 1 Capital Ratio		11.18	%		11.57	%					11.21	%
Total Risk Based Capital Ratio		12.30	%		12.82	%					12.40	%
Common Stock Dividend Payout Ratio		31.7	%		39.6	%					36.8	%
Asset Quality Ratios:
Excluding FDIC Covered Assets and Acquired Assets
Non-performing Assets to Total Assets (4)		0.41	%		0.61	%					0.46	%
Allowance for Loan Losses to Loans		0.79	%		0.81	%					0.79	%
Net Charge-offs to Average Loans		0.06	%		0.07	%					0.09	%
Non-performing Assets to Total Loans and OREO (4)		0.59	%		0.88	%					0.67	%

	For The Quarter Ended				For The Quarter Ended
	December 31,				September 30,		June 30,		March 31,
	2014		2014		2014		2014		2014
	End of Period		Average		Average		Average		Average
Balance Sheet Summary (in thousands):
Excess Liquidity (5)	$	296,101	$	353,716	$	489,221	$	237,712	$	114,621
Total Investment Securities		2,275,813		2,261,569		2,168,345		2,120,988		2,116,166
Loans, Net of Unearned Income		11,441,044		11,271,752		11,009,833		9,998,533		9,551,351
Loans, Net of Unearned Income, Excluding Covered Assets and Acquired Assets		9,668,714		9,438,869		9,019,127		8,643,859		8,324,676
Total Assets		15,758,605		15,615,024		15,476,910		14,041,848		13,362,918
Total Deposits		12,520,525		12,514,479		12,222,997		11,071,698		10,816,122
Total Shareholders’ Equity		1,852,849		1,831,933		1,806,813		1,632,330		1,557,006

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

⁽⁴⁾  Nonperforming assets consist of nonaccruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.

⁽⁵⁾  Excess Liquidity includes interest-bearing deposits in banks and fed funds sold, but excludes liquidity sources and uses from off-balance sheet arrangements.

N/M - Comparison of the information presented is not meaningful given the periods presented.

13

Table 2 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

	December 31,									September 30,
	2014			2013			% Change			2014			% Change
BALANCE SHEET (End of Period)
ASSETS
Cash and Due From Banks	$	251,994		$	238,672			5.6	%	$	257,147			(2.0	%)
Interest-bearing Deposits in Banks		296,101			152,724			93.9	%		410,860			(27.9	%)
Total Cash and Equivalents		548,095			391,396			40.0	%		668,007			(18.0	%)
Investment Securities Available for Sale		2,158,853			1,936,797			11.5	%		2,103,828			2.6	%
Investment Securities Held to Maturity		116,960			154,109			(24.1	%)		120,520			(3.0	%)
Total Investment Securities		2,275,813			2,090,906			8.8	%		2,224,348			2.3	%
Mortgage Loans Held for Sale		140,072			128,442			9.1	%		148,530			(5.7	%)
Loans, Net of Unearned Income		11,441,044			9,492,019			20.5	%		11,080,887			3.3	%
Allowance for Loan Losses		(130,131	)		(143,074	)		(9.0	%)		(134,540	)		(3.3	%)
Loans, Net		11,310,913			9,348,945			21.0	%		10,946,347			3.3	%
Loss Share Receivable		69,627			162,312			(57.1	%)		94,712			(26.5	%)
Premises and Equipment		307,159			287,510			6.8	%		307,868			(0.2	%)
Goodwill and Other Intangibles		548,131			425,442			28.8	%		553,669			(1.0	%)
Other Assets		558,795			530,597			5.3	%		571,670			(2.3	%)
Total Assets	$	15,758,605		$	13,365,550			17.9	%	$	15,515,151			1.6	%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	3,195,430		$	2,575,939			24.0	%	$	3,157,453			1.2	%
NOW Accounts		2,462,841			2,283,490			7.9	%		2,194,803			12.2	%
Savings and Money Market Accounts		4,746,017			4,166,979			13.9	%		4,921,510			(3.6	%)
Certificates of Deposit		2,116,237			1,710,592			23.7	%		2,103,925			0.6	%
Total Deposits		12,520,525			10,737,000			16.6	%		12,377,691			1.2	%
Short-term Borrowings		603,000			375,000			60.8	%		553,000			9.0	%
Securities Sold Under Agreements to Repurchase		242,742			305,344			(20.5	%)		259,783			(6.6	%)
Trust Preferred Securities		111,862			111,862			—			111,862			—
Other Long-term Debt		291,392			168,837			72.6	%		243,707			19.6	%
Other Liabilities		136,235			136,528			(0.2	%)		152,733			(10.8	%)
Total Liabilities		13,905,756			11,834,571			17.5	%		13,698,776			1.5	%
Total Shareholders’ Equity		1,852,849			1,530,979			21.0	%		1,816,375			2.0	%
Total Liabilities and Shareholders’ Equity	$	15,758,605		$	13,365,550			17.9	%	$	15,515,151			1.6	%
	December 31,			September 30,			June 30,			March 31,			December 31,
	2014			2014			2014			2014			2013
BALANCE SHEET (Average)
ASSETS
Cash and Due From Banks	$	239,377		$	229,556		$	237,631		$	234,924		$	225,527
Interest-bearing Deposits in Banks		353,716			489,221			237,712			114,621			204,970
Investment Securities		2,261,569			2,168,345			2,120,988			2,116,166			2,131,804
Mortgage Loans Held for Sale		121,438			163,510			140,096			96,019			112,499
Loans, Net of Unearned Income		11,271,752			11,009,833			9,998,533			9,551,351			9,172,490
Allowance for Loan Losses		(134,177	)		(133,443	)		(132,049	)		(139,726	)		(148,030	)
Loss Share Receivable		85,733			111,383			131,375			154,634			188,932
Other Assets		1,415,616			1,438,505			1,307,562			1,234,930			1,226,979
Total Assets	$	15,615,024		$	15,476,910		$	14,041,848		$	13,362,918		$	13,115,171
LIABILITIES AND SHAREHOLDERS’ EQUITY
Non-interest-bearing Deposits	$	3,228,773		$	3,057,513		$	2,748,468		$	2,623,075		$	2,572,599
NOW Accounts		2,271,836			2,228,378			2,229,264			2,230,745			2,145,036
Savings and Money Market Accounts		4,908,247			4,877,051			4,372,855			4,296,360			4,329,985
Certificates of Deposit		2,105,623			2,060,055			1,721,111			1,665,943			1,787,643
Total Deposits		12,514,479			12,222,997			11,071,698			10,816,122			10,835,263
Short-term Borrowings		449,190			627,192			632,778			285,383			49,946
Securities Sold Under Agreements to Repurchase		264,194			292,677			274,681			299,106			285,745
Trust Preferred Securities		111,862			111,862			111,862			111,862			111,862
Long-term Debt		283,548			247,108			192,845			168,367			169,063
Other Liabilities		159,818			168,262			125,654			125,072			128,249
Total Liabilities		13,783,091			13,670,098			12,409,518			11,805,912			11,580,128
Total Shareholders’ Equity		1,831,933			1,806,813			1,632,330			1,557,006			1,535,043
Total Liabilities and Shareholders’ Equity	$	15,615,024		$	15,476,910		$	14,041,848		$	13,362,918		$	13,115,171

14

Table 3 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

	For The Three Months Ended
	December 31,									September 30,
	2014			2013			% Change			2014			% Change
INCOME STATEMENT
Interest Income	$	137,276		$	114,092			20.3	%	$	133,793			2.6	%
Interest Expense		12,596			10,654			18.2	%		12,042			4.6	%
Net Interest Income		124,680			103,438			20.5	%		121,751			2.4	%
Provision for Loan Losses		6,495			4,700			38.2	%		5,714			13.7	%
Net Interest Income After Provision for Loan Losses		118,185			98,738			19.7	%		116,037			1.9	%
Service Charges		10,153			7,455			36.2	%		10,205			(0.5	%)
ATM / Debit Card Fee Income		3,331			2,493			33.6	%		3,287			1.3	%
BOLI Proceeds and Cash Surrender Value Income		1,050			900			16.7	%		1,047			0.4	%
Mortgage Income		13,646			12,356			10.4	%		14,263			(4.3	%)
Gain (Loss) on Sale of Investments, Net		164			19			778.3	%		582			(71.9	%)
Title Revenue		5,486			4,327			26.8	%		5,577			(1.6	%)
Broker Commissions		3,960			4,986			(20.6	%)		5,297			(25.2	%)
Other Non-interest Income		9,282			6,179			50.2	%		6,854			35.4	%
Total Non-interest Income		47,072			38,715			21.6	%		47,112			(0.1	%)
Salaries and Employee Benefits		65,445			59,403			10.2	%		64,934			0.8	%
Occupancy and Equipment		14,594			13,986			4.3	%		14,883			(1.9	%)
Amortization of Acquisition Intangibles		1,618			1,177			37.5	%		1,623			(0.3	%)
Other Non-interest Expense		37,725			28,108			34.2	%		38,920			(3.1	%)
Total Non-interest Expense		119,382			102,674			16.3	%		120,360			(0.8	%)
Income Before Income Taxes		45,875			34,779			31.9	%		42,789			7.2	%
Income Tax Expense		9,939			9,175			8.3	%		11,897			(16.5	%)
Net Income	$	35,936		$	25,604			40.4	%	$	30,892			16.3	%
Preferred Stock Dividends		—			—			—			—			—
Earnings Available to Common Shareholders - Basic		35,936			25,604			40.4	%		30,892			16.3	%
Earnings Allocated to Unvested Restricted Stock		(530	)		(456	)		16.3	%		(465	)		13.9	%
Earnings Available to Common Shareholders - Diluted	$	35,406		$	25,148			40.8	%	$	30,427			16.4	%
Earnings Per Share, Diluted	$	1.07		$	0.86			24.9	%	$	0.92			16.3	%
Impact of Non-Operating Items (Non-GAAP)	$	(0.02	)	$	0.01			(533.0	%)	$	0.12			(120.8	%)
Earnings Per Share, Diluted, Excluding Non-operating Items (Non-GAAP)	$	1.05		$	0.87			21.0	%	$	1.04			0.9	%
NUMBER OF SHARES OUTSTANDING
Basic Shares - All Classes (Average)		33,332,691			29,673,358			12.3	%		33,309,881			0.1	%
Diluted Shares - Common Shareholders (Average)		32,947,152			29,236,174			12.7	%		32,926,969			0.1	%
Book Value Shares (Period End) (1)		33,453,404			29,786,544			12.3	%		33,440,859			0.0	%
	2014												2013
	Fourth			Third			Second			First			Fourth
	Quarter			Quarter			Quarter			Quarter			Quarter
INCOME STATEMENT
Interest Income	$	137,276		$	133,793		$	119,514		$	114,232		$	114,092
Interest Expense		12,596			12,042			10,241			9,824			10,654
Net Interest Income		124,680			121,751			109,273			104,408			103,438
Provision for Loan Losses		6,495			5,714			4,748			2,103			4,700
Net Interest Income After Provision for Loan Losses		118,185			116,037			104,525			102,305			98,738
Total Non-interest Income		47,072			47,112			43,761			35,681			38,715
Total Non-interest Expense		119,382			120,360			127,309			107,428			102,674
Income Before Income Taxes		45,876			42,789			20,977			30,558			34,779
Income Tax Expense		9,939			11,897			4,749			8,163			9,175
Net Income	$	35,936		$	30,892		$	16,227		$	22,395		$	25,604
Preferred Stock Dividends		—			—			—			—			—
Earnings Available to Common Shareholders - Basic		35,936			30,892			16,227			22,395			25,604
Earnings Allocated to Unvested Restricted Stock		(530	)		(465	)		(258	)		(405	)		(456	)
Earnings Available to Common Shareholders - Diluted	$	35,406		$	30,427		$	15,969		$	21,990		$	25,148
Earnings Per Share, Basic	$	1.08		$	0.93		$	0.53		$	0.75		$	0.86
Earnings Per Share, Diluted	$	1.07		$	0.92		$	0.53		$	0.75		$	0.86
Book Value Per Common Share	$	55.39		$	54.32		$	53.79		$	52.04		$	51.40
Tangible Book Value Per Common Share	$	39.11		$	37.83		$	37.30		$	37.59		$	37.17
Return on Average Assets		0.91	%		0.79	%		0.46	%		0.68	%		0.77	%
Return on Average Common Equity		7.78	%		6.78	%		3.99	%		5.83	%		6.62	%
Return on Average Tangible Common Equity		11.46	%		10.10	%		5.88	%		8.36	%		9.43	%

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

15

Table 4 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

	For The Year Ended
	December 31,
	2014			2013			% Change
INCOME STATEMENT
Interest Income	$	504,815		$	437,197			15.5	%
Interest Expense		44,704			46,953			(4.8	%)
Net Interest Income		460,111			390,244			17.9	%
Provision for Loan Losses		19,060			5,145			N/M
Net Interest Income After Provision for Loan Losses		441,051			385,099			14.5	%
Service Charges		35,573			28,871			23.2	%
ATM / Debit Card Fee Income		12,023			9,510			26.4	%
BOLI Proceeds and Cash Surrender Value Income		5,473			3,647			50.1	%
Mortgage Income		51,797			64,197			(19.3	%)
Gain on Sale of Investments, net		773			2,334			(66.9	%)
Title Revenue		20,492			20,526			(0.2	%)
Broker Commissions		18,783			16,333			15.0	%
Other Non-interest Income		28,714			23,540			22.0	%
Total Non-interest Income		173,628			168,958			2.8	%
Salaries and Employee Benefits		259,086			244,981			5.8	%
Occupancy and Equipment		59,571			58,037			2.6	%
Amortization of Acquisition Intangibles		5,807			4,720			23.0	%
Other Non-interest Expense		150,015			165,347			(9.3	%)
Total Non-interest Expense		474,479			473,085			0.3	%
Income Before Income Taxes		140,200			80,972			73.1	%
Income Tax Expense		34,750			15,869			(119.0	%)
Net Income	$	105,450		$	65,103			62.0	%
Preferred Stock Dividends		—			—			—
Earnings Available to Common Shareholders - Basic	$	105,450		$	65,103			62.0	%
Earnings Allocated to Unvested Restricted Stock		(1,685	)		(1,209	)		39.4	%
Earnings Available to Common Shareholders - Diluted		103,765			63,894			62.4	%
Earnings Per Share, diluted	$	3.30		$	2.20			50.2	%

16

Table 5 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

	December 31,									September 30,
	2014			2013			% Change			2014			% Change
LOANS
Residential Mortgage Loans	$	1,080,297		$	586,532			84.2	%	$	1,062,779			1.6	%
Commercial Loans:
Real Estate		4,405,133			3,867,305			13.9	%		4,281,704			2.9	%
Business		3,408,949			2,996,113			13.8	%		3,225,691			5.7	%
Total Commercial Loans		7,814,082			6,863,418			13.9	%		7,507,395			4.1	%
Consumer Loans:
Indirect Automobile		397,158			375,236			5.8	%		394,691			0.6	%
Home Equity		1,601,105			1,291,792			23.9	%		1,567,415			2.1	%
Automobile		149,901			92,784			61.6	%		140,287			6.9	%
Credit Card Loans		73,393			64,321			14.1	%		69,352			5.8	%
Other		325,108			217,936			49.2	%		338,969			(4.1	%)
Total Consumer Loans		2,546,665			2,042,069			24.7	%		2,510,713			1.4	%
Total Loans		11,441,044			9,492,019			20.5	%		11,080,887			3.3	%
Allowance for Loan Losses		(130,131	)		(143,074	)					(134,540	)
Loans, Net	$	11,310,913		$	9,348,945					$	10,946,347
Reserve for Unfunded Commitments		(11,801	)		(11,147	)		5.9	%		(12,099	)		(2.5	%)
Allowance for Credit Losses		(141,932	)		(154,221	)		(8.0	%)		(146,639	)		(3.2	%)
	December 31,									September 30,
	2014			2013			% Change			2014			% Change
ASSET QUALITY DATA (1)
Non-accrual Loans	$	169,686		$	270,428			(37.3	%)	$	195,680			(13.3	%)
Foreclosed Assets		905			1,421			(36.3	%)		1,035			(12.5	%)
Other Real Estate Owned		53,042			97,752			(45.7	%)		62,351			(14.9	%)
Accruing Loans More Than 90 Days Past Due		1,708			2,194			(22.2	%)		190			N/M
Total Non-performing Assets	$	225,341		$	371,795			(39.4	%)	$	259,256			(13.1	%)
Loans 30-89 Days Past Due	$	51,141		$	40,918			25.0	%	$	23,784			115.0	%
Non-performing Assets to Total Assets		1.43	%		2.78	%		(48.6	%)		1.67	%		(14.3	%)
Non-performing Assets to Total Loans and OREO		1.96	%		3.88	%		(49.4	%)		2.32	%		(15.7	%)
Allowance for Loan Losses to Non-performing Loans (2)		75.9	%		52.5	%		44.7	%		68.8	%		10.4	%
Allowance for Loan Losses to Non-performing Assets		57.7	%		38.5	%		50.1	%		51.9	%		11.2	%
Allowance for Loan Losses to Total Loans		1.14	%		1.51	%		(24.5	%)		1.21	%		(6.3	%)
Allowance for Credit Losses to Non-performing Loans (2)		82.8	%		56.6	%		46.4	%		74.9	%		10.6	%
Allowance for Credit Losses to Non-performing Assets		63.0	%		41.5	%		51.8	%		56.6	%		11.4	%
Allowance for Credit Losses to Total Loans		1.24	%		1.62	%		(23.6	%)		1.32	%		(6.3	%)
Year to Date Charge-offs	$	11,983		$	10,845			10.5	%	$	8,571			N/M
Year to Date Recoveries		(6,396	)		(6,887	)		(7.1	%)		(4,739	)		N/M
Year to Date Net Charge-offs	$	5,587		$	3,958			41.1	%	$	3,832			N/M
Quarter to Date Net Charge-offs	$	1,755		$	1,373			27.8	%	$	2,207			(20.5	%)
Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.06	%		0.06	%		3.9	%		0.08	%		(22.4	%)
Year to Date Net Charge-offs to Average Loans		0.05	%		0.04	%		19.5	%		0.05	%		1.9	%

⁽¹⁾  For purposes of this table, non-performing assets include all loans meeting non-performing asset criteria, including assets acquired in FDIC-assisted transactions.

⁽²⁾  Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.

N/M - Comparison of the information presented is not meaningful given the periods presented.

Table 6 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

	December 31,									September 30,
	2014			2013			% Change			2014			% Change
LOANS (Excluding Covered Assets and Acquired Assets) (1)
Residential Mortgage Loans	$	527,694		$	414,372			27.3	%	$	497,075			6.2	%
Commercial Loans:
Real Estate		3,718,058			3,134,904			18.6	%		3,527,612			5.4	%
Business		3,284,140			2,906,051			13.0	%		3,093,873			6.1	%
Total Commercial Loans		7,002,198			6,040,955			15.9	%		6,621,485			5.7	%
Consumer Loans:
Indirect Automobile		396,766			373,383			6.3	%		394,078			0.7	%
Home Equity		1,290,976			1,101,227			17.2	%		1,229,998			5.0	%
Automobile		134,014			92,171			45.4	%		123,446			8.6	%
Credit Card Loans		72,745			63,642			14.3	%		68,731			5.8	%
Other		244,321			202,571			20.6	%		245,129			(0.3	%)
Total Consumer Loans		2,138,822			1,832,994			16.7	%		2,061,382			3.8	%
Total Loans		9,668,714			8,288,321			16.7	%		9,179,942			5.3	%
Allowance for Loan Losses		(76,174	)		(67,343	)					(72,537	)
Loans, Net	$	9,592,540		$	8,220,978					$	9,107,405
Reserve for Unfunded Commitments		(11,801	)		(11,147	)		5.9	%		(12,099	)		(2.5	%)
Allowance for Credit Losses		(87,975	)		(78,490	)		12.1	%		(84,636	)		3.9	%

	December 31,									September 30,
	2014			2013			% Change			2014			% Change
ASSET QUALITY DATA (Excluding Covered Assets and Acquired Assets)(1)
Non-accrual Loans	$	34,970		$	43,687			(20.0	%)	$	38,060			(8.1	%)
Foreclosed Assets		36			48			(25.1	%)		19			89.6	%
Other Real Estate Owned		21,207			28,224			(24.9	%)		23,459			(9.6	%)
Accruing Loans More Than 90 Days Past Due		754			1,075			(29.9	%)		4			N/M
Total Non-performing Assets	$	56,967		$	73,034			(22.0	%)	$	61,542			(7.4	%)
Loans 30-89 Days Past Due	$	29,567		$	21,391			38.2	%	$	12,441			137.7	%
Troubled Debt Restructurings (2)		3,639			19,877			(81.7	%)		3,421			6.3	%
Current Troubled Debt Restructurings (3)		1,430			1,376			3.9	%		1,093			30.8	%
Non-performing Assets to Total Assets		0.41	%		0.61	%		(32.9	%)		0.46	%		(10.1	%)
Non-performing Assets to Total Loans and OREO		0.59	%		0.88	%		(33.1	%)		0.67	%		(12.1	%)
Allowance for Loan Losses to Non-performing Loans (4)		213.2	%		150.4	%		41.7	%		190.6	%		11.9	%
Allowance for Loan Losses to Non-performing Assets		133.7	%		92.2	%		45.0	%		117.9	%		13.4	%
Allowance for Loan Losses to Total Loans		0.79	%		0.81	%		(3.0	%)		0.79	%		(0.3	%)
Allowance for Credit Losses to Non-performing Loans (1) (4)		246.3	%		175.3	%		40.4	%		222.3	%		10.8	%
Allowance for Credit Losses to Non-performing Assets (1)		154.4	%		107.5	%		43.7	%		137.5	%		12.3	%
Allowance for Credit Losses to Total Loans (1)		0.91	%		0.95	%		(3.9	%)		0.92	%		(1.3	%)
Year to Date Charge-offs	$	11,312		$	10,687			5.8	%	$	8,242			N/M
Year to Date Recoveries		(5,870	)		(6,819	)		(13.9	%)		(4,338	)		N/M
Year to Date Net Charge-offs (Recoveries)	$	5,442		$	3,868			40.7	%	$	3,904			N/M
Quarter to Date Net Charge-offs (Recoveries)	$	1,538		$	1,366			12.6	%	$	2,131			(27.9	%)
Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.06	%		0.07	%		(6.7	%)		0.09	%		(31.1	%)
Year to Date Net Charge-offs to Average Loans		0.06	%		0.05	%		19.2	%		0.06	%		(2.0	%)

⁽¹⁾  For purposes of this table, loans and non-performing assets exclude all assets acquired.

⁽²⁾  Troubled debt restructurings meeting past due and non-accruing criteria are included in loans past due and non-accrual loans above.

⁽³⁾  Current troubled debt restructurings are defined as troubled debt restructurings not past due or on non-accrual status for the respective periods.

⁽⁴⁾  Non-performing loans consist of nonaccruing loans and accruing loans 90 days or more past due.

N/M - Comparison of the information presented is not meaningful given the periods presented.

18

Table 6A - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

	December 31,									September 30,
	2014			2013			% Change			2014			% Change
LOANS (Covered Assets and Acquired Assets Only) (1)
Residential Mortgage Loans	$	552,603		$	172,160			221.0	%	$	565,704			(2.3	%)
Commercial Loans:
Real Estate		687,075			732,401			(6.2	%)		754,092			(8.9	%)
Business		124,809			90,062			38.6	%		131,818			(5.3	%)
Total Commercial Loans		811,884			822,463			(1.3	%)		885,910			(8.4	%)
Consumer Loans:
Indirect Automobile		392			1,853			(78.8	%)		613			(36.0	%)
Home Equity		310,129			190,565			62.7	%		337,417			(8.1	%)
Automobile		15,887			613			2491.5	%		16,841			(5.7	%)
Credit Card Loans		648			679			(4.5	%)		621			4.4	%
Other		80,787			15,365			425.8	%		93,840			(13.9	%)
Total Consumer Loans		407,843			209,075			95.1	%		449,331			(9.2	%)
Total Loans Receivable		1,772,330			1,203,698			47.2	%		1,900,945			(6.8	%)
Allowance for Loan Losses		(53,957	)		(75,731	)					(62,003	)
Loans, Net	$	1,718,373		$	1,127,967					$	1,838,941

	December 31,									September 30,
	2014			2013			% Change			2014			% Change
ASSET QUALITY DATA (Covered Assets and Acquired Assets Only) (1)
Non-accrual Loans	$	134,716		$	226,741			(40.6	%)	$	157,620			(14.5	%)
Foreclosed Assets		869			1,372			(36.7	%)		1,016			(14.5	%)
Other Real Estate Owned		31,835			69,528			(54.2	%)		38,892			(18.1	%)
Accruing Loans More Than 90 Days Past Due		954			1,119			(14.8	%)		186			413.1	%
Total Non-performing Assets	$	168,374		$	298,760			(43.6	%)	$	197,714			(14.8	%)
Loans 30-89 Days Past Due	$	21,574		$	19,527			10.5	%	$	11,343			90.2	%
Non-performing Assets to Total Assets		9.11	%		21.27	%		(57.2	%)		9.84	%		(7.4	%)
Non-performing Assets to Total Loans and OREO		9.33	%		23.44	%		(60.2	%)		10.19	%		(8.4	%)
Allowance for Loan Losses to Non-performing Loans (2)		39.8	%		33.2	%		19.7	%		39.3	%		1.2	%
Allowance for Loan Losses to Non-performing Assets		32.0	%		25.3	%		26.4	%		31.4	%		2.2	%
Allowance for Loan Losses to Total Loans		3.04	%		6.29	%		(51.6	%)		3.26	%		(6.7	%)
Year to Date Charge-offs	$	671		$	158			N/M		$	329			N/M
Year to Date Recoveries		(526	)		(68	)		N/M			(401	)		N/M
Year to Date Net Charge-offs (Recoveries)		145			90			60.6	%		(72	)		N/M
Quarter to Date Net Charge-offs (Recoveries)		217			7			N/M			76			N/M
Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.05	%		0.00	%		N/M			0.02	%		N/M
Year to Date Net Charge-offs to Average Loans		0.01	%		0.01	%		(39.4	%)		-0.01	%		N/M

⁽¹⁾  For purposes of this table, acquired loans and non-performing assets are presented only. Non-performing assets include all loans meeting nonperforming asset criteria.

⁽²⁾  Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.

N/M - Comparison of the information presented is not meaningful given the periods presented

19

Table 7 - Non-Covered and Net Covered Loan Portfolio Volumes And Yields ($ in Millions)

As Reported (US GAAP)

	4Q 2013									1Q 2014									2Q 2014									3Q 2014									4Q 2014
	Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield
Legacy Loans, net	$	82.3		$	7,923			4.09	%	$	84.2		$	8,325			4.06	%	$	87.9		$	8,644			4.04	%	$	91.1		$	9,019			3.97	%	$	94.5		$	9,439			3.94	%
Acquired Loans, net		11.1			498			8.71	%		11.0			535			8.23	%		12.6			730			6.86	%		24.1			1,432			6.63	%		24.1			1,370			6.94	%
Covered Loans, net		37.2			751			19.46	%		25.9			691			15.00	%		23.0			625			14.70	%		30.2			559			21.64	%		18.1			463			15.29	%
FDIC Indemnification Asset		(29.1	)		189			-60.36	%		(19.3	)		155			-49.83	%		(17.0	)		131			-51.22	%		(25.1	)		111			-88.25	%		(13.2	)		86			-60.36	%
Covered Loans, net of Indemnification Asset Amortization	$	8.0		$	940			3.43	%	$	6.7		$	846			3.18	%	$	6.0		$	756			3.16	%	$	5.1		$	670			3.07	%	$	4.9		$	549			3.57	%
Adjustments
	4Q 2013									1Q 2014									2Q 2014									3Q 2014									4Q 2014
	Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield
Legacy Loans, net	$	—		$	—			0.00	%	$	—		$	—			0.00	%	$	—		$	—			0.00	%	$	—		$	—			0.00	%	$	—		$	—			0.00	%
Acquired Loans, net		(3.7	)		70			-3.59	%		(4.2	)		65			-3.79	%		(2.9	)		67			-2.03	%		(6.4	)		72			-1.97	%		(6.5	)		67			-2.06	%
Covered Loans, net		(27.5	)		123			-15.20	%		(17.5	)		106			-10.82	%		(13.7	)		95			-9.58	%		(22.8	)		84			-17.07	%		(12.8	)		74			-10.72	%
FDIC Indemnification Asset		29.1			(189	)		60.36	%		19.3			(155	)		49.83	%		17.0			(131	)		51.22	%		25.1			(111	)		88.25	%		13.2			(86	)		60.36	%
Covered Loans, net of Indemnification Asset Amortization	$	1.6		$	(66	)		0.83	%	$	1.7		$	(48	)		1.01	%	$	3.3		$	(37	)		1.96	%	$	2.3		$	(27	)		1.50	%	$	0.4		$	(12	)		1.00	%
As Adjusted (Cash Yield, Non-GAAP)
	4Q 2013									1Q 2014									2Q 2014									3Q 2014									4Q 2014
	Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield
Legacy Loans, net	$	82.3		$	7,923			4.09	%	$	84.2		$	8,325			4.06	%	$	87.9		$	8,644			4.04	%	$	91.1		$	9,019			3.97	%	$	94.5		$	9,439			3.94	%
Acquired Loans, net		7.4			568			5.12	%		6.7			600			4.45	%		9.7			797			4.83	%		17.6			1,504			4.66	%		17.6			1,436			4.88	%
Covered Loans, net		9.7			874			4.26	%		8.4			798			4.18	%		9.3			719			5.13	%		7.4			642			4.57	%		5.3			537			4.57	%
FDIC Indemnification Asset		—			—			0.00	%		0.0			—			0.00	%		0.0			—			0.00	%		—			(0	)		0.00	%		—			—			0.00	%
Covered Loans, net of Indemnification Asset Amortization	$	9.7		$	874			4.26	%	$	8.4		$	798			4.18	%	$	9.3		$	719			5.13	%	$	7.4		$	642			4.57	%	$	5.3		$	537			4.57	%

20

Table 8 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)

	For The Quarter Ended
	December 31, 2014									September 30, 2014						December 31, 2013
				Average			Average			Average			Average			Average			Average
	Interest			Balance			Yield/Rate (%)			Balance			Yield/Rate (%)			Balance			Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	13,094		$	1,069,555			4.90	%	$	1,104,692			4.82	%	$	570,480			6.12	%
Commercial Loans (TE) (1)		89,574			7,656,992			4.65	%		7,467,598			5.24	%		6,570,033			5.57	%
Consumer and Other Loans		33,994			2,545,205			5.30	%		2,437,544			5.47	%		2,031,977			5.82	%
Total Loans		136,662			11,271,752			4.82	%		11,009,834			5.25	%		9,172,490			5.66	%
Loss Share Receivable		(13,224	)		85,733			-60.36	%		111,383			-88.25	%		188,932			-60.36	%
Total Loans and Loss Share Receivable		123,438			11,357,485			4.32	%		11,121,217			4.31	%		9,361,422			4.33	%
Mortgage Loans Held for Sale		1,200			121,438			3.95	%		163,510			3.90	%		112,499			4.06	%
Investment Securities (TE) (1)(2)		11,766			2,234,236			2.24	%		2,137,736			2.20	%		2,129,679			2.21	%
Other Earning Assets		872			431,603			0.80	%		567,895			0.60	%		250,295			0.94	%
Total Earning Assets		137,276			14,144,762			3.88	%		13,990,358			3.83	%		11,853,895			3.87	%
Allowance for Loan Losses					(134,177	)					(133,443	)					(148,030	)
Non-earning Assets					1,604,439						1,619,995						1,409,306
Total Assets				$	15,615,024					$	15,476,910					$	13,115,171
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	1,526		$	2,271,836			0.27	%	$	2,228,378			0.28	%	$	2,145,036			0.32	%
Savings and Money Market Accounts		3,695			4,908,247			0.30	%		4,877,051			0.29	%		4,329,985			0.26	%
Certificates of Deposit		4,272			2,105,623			0.80	%		2,060,055			0.77	%		1,787,643			0.79	%
Total Interest-bearing Deposits		9,493			9,285,706			0.41	%		9,165,484			0.39	%		8,262,664			0.39	%
Short-term Borrowings		342			713,384			0.19	%		919,869			0.17	%		335,691			0.15	%
Long-term Debt		2,761			395,410			2.73	%		358,970			2.75	%		280,925			3.37	%
Total Interest-bearing Liabilities		12,596			10,394,500			0.48	%		10,444,323			0.46	%		8,879,280			0.47	%
Non-interest-bearing Demand Deposits					3,228,773						3,057,513						2,572,599
Non-interest-bearing Liabilities					159,818						168,261						128,249
Total Liabilities					13,783,091						13,670,097						11,580,128
Shareholders’ Equity					1,831,933						1,806,813						1,535,043
Total Liabilities and Shareholders’ Equity				$	15,615,024					$	15,476,910					$	13,115,171
Net Interest Spread				$	124,680			3.41	%	$	121,751			3.38	%	$	103,438			3.40	%
Tax-equivalent Benefit					2,055			0.06	%		2,134			0.06	%		2,271			0.08	%
Net Interest Income (TE) / Net Interest Margin (TE) (1)				$	126,735			3.53	%	$	123,885			3.49	%	$	105,709			3.52	%

⁽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.

Table 9 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)

	For The Year Ended
	December 31, 2014									December 31, 2013
				Average			Average						Average			Average
	Interest			Balance			Yield/Rate (%)			Interest			Balance			Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	44,563		$	869,510			5.13	%	$	30,598		$	520,872			5.87	%
Commercial Loans (TE) (1)		359,801			7,284,247			4.95	%		350,451			6,386,364			5.50	%
Consumer and Other Loans		122,342			2,310,339			5.30	%		107,887			1,954,766			5.52	%
Total Loans		526,706			10,464,096			5.04	%		488,936			8,862,002			5.53	%
Loss Share Receivable		(74,617	)		120,567			-61.04	%		(97,849	)		266,856			-36.16	%
Total Loans and Loss Share Receivable		452,089			10,584,663			4.29	%		391,087			9,128,858			4.31	%
Mortgage Loans Held for Sale		5,153			130,425			3.95	%		5,108			144,961			3.52	%
Investment Securities (TE) (1)(2)		44,677			2,148,963			2.23	%		38,230			2,081,523			2.01	%
Other Earning Assets		2,896			371,490			0.78	%		2,772			380,050			0.73	%
Total Earning Assets		504,815			13,235,541			3.85	%		437,197			11,735,392			3.78	%
Allowance for Loan Losses					(134,830	)								(184,217	)
Non-earning Assets					1,531,974									1,452,813
Total Assets				$	14,632,685								$	13,003,988
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	6,006		$	2,240,137			0.27	%	$	7,557		$	2,337,831			0.32	%
Savings and Money Market Accounts		12,803			4,616,026			0.28	%		11,685			4,207,343			0.28	%
Certificates of Deposit		14,281			1,889,858			0.76	%		16,604			1,964,702			0.85	%
Total Interest-bearing Deposits		33,090			8,746,021			0.38	%		35,846			8,509,876			0.42	%
Short-term Borrowings		1,364			782,033			0.17	%		490			303,352			0.16	%
Long-term Debt		10,250			335,211			3.02	%		10,617			316,775			3.31	%
Total Interest-bearing Liabilities		44,704			9,863,265			0.45	%		46,953			9,130,003			0.51	%
Non-interest-bearing Demand Deposits					2,916,509									2,216,959
Non-interest-bearing Liabilities					144,861									129,833
Total Liabilities					12,924,635									11,476,795
Shareholders’ Equity					1,708,050									1,527,193
Total Liabilities and Shareholders’ Equity				$	14,632,685								$	13,003,988
Net Interest Spread				$	460,111			3.40	%				$	390,244			3.26	%
Tax-equivalent Benefit					8,609			0.06	%					9,452			0.08	%
Net Interest Income (TE) / Net Interest Margin (TE) (1)				$	468,720			3.51	%				$	399,696			3.38	%

⁽¹⁾ Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a marginal tax rate of 35%.

⁽²⁾ Balances exclude unrealized gain or loss on securities available for sale and impact of trade date accounting.

22

Table 10 - IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(dollars in thousands)

	For The Quarter Ended
	December 31, 2014			September 30, 2014			December 31, 2013
Net Interest Income (GAAP)	$	124,680		$	121,751		$	103,438
Effect of Tax Benefit on Interest Income		2,055			2,134			2,271
Net Interest Income (TE) (Non-GAAP) (1)		126,735			123,885			105,709
Non-interest Income (GAAP)		47,072			47,112			38,715
Effect of Tax Benefit on Non-interest Income		566			564			485
Non-interest Income (TE) (Non-GAAP) (1)		47,638			47,676			39,200
Taxable Equivalent Revenues (Non-GAAP) (1)		174,373			171,561			144,909
Securities Gains and other non-interest income		(374	)		(582	)		(19	)
Taxable Equivalent Operating Revenues (Non-GAAP) (1)	$	173,999		$	170,979		$	144,890
Total Non-interest Expense (GAAP)	$	119,382		$	120,360		$	102,674
Less Intangible Amortization Expense		(1,618	)		(1,623	)		(1,177	)
Tangible Non-interest Expense (Non-GAAP) (2)		117,764			118,737			101,497
Merger-related expenses		1,955			1,752			566
Severance expenses		139			1,226			216
(Gain) Loss on sale of long-lived assets, net of impairment		1,078			4,213			(225	)
(Reversal of) Provision for FDIC clawback liability		—			(797	)		—
Other non-operating non-interest expense		2			1			(311	)
Tangible Operating Non-interest Expense (Non-GAAP) (2)	$	114,590		$	112,342		$	101,251
Return on Average Common Equity (GAAP)		7.78	%		6.78	%		6.62	%
Effect of Intangibles (2)		3.68	%		3.32	%		2.81	%
Effect of Non Operating Revenues and Expenses		(0.29	%)		1.19	%		0.05	%
Operating Return on Average Tangible Common Equity (Non-GAAP) (2)		11.17	%		11.29	%		9.47	%
Efficiency Ratio (GAAP)		69.5	%		71.3	%		72.2	%
Effect of Tax Benefit Related to Tax-exempt Income		(1.0	%)		(1.1	%)		(1.3	%)
Efficiency Ratio (TE) (Non-GAAP) (1)		68.5	%		70.2	%		70.9	%
Effect of Amortization of Intangibles		(0.9	%)		(0.9	%)		(0.8	%)
Effect of Non-operating Items		(1.7	%)		(3.6	%)		(0.2	%)
Tangible Operating Efficiency Ratio (TE)(Non-GAAP) (1) (2)		65.9	%		65.7	%		69.9	%

⁽¹⁾  Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a marginal tax rate of 35%.

⁽²⁾  Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

23

Table 11 - IBERIBANK CORPORATON

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ⁽¹⁾

(dollars in thousands)

	For The Quarter Ended
	December 31, 2014									September 30, 2014									December 31, 2013
	Dollar Amount									Dollar Amount									Dollar Amount
	Pre-tax			After-tax (2)			Per share			Pre-tax			After-tax (2)			Per share			Pre-tax			After-tax (2)			Per share
Net Income (Loss) (GAAP)	$	45,875		$	35,936		$	1.07		$	42,789		$	30,892		$	0.92		$	34,779		$	25,604		$	0.86
Non-interest income adjustments
Gain on sale of investments and other non-interest income		(374	)		(243	)		(0.01	)		(582	)		(378	)		(0.01	)		(19	)		(12	)		(0.00	)
Non-interest expense adjustments
Merger-related expenses		1,955			1,496			0.04			1,752			1,139			0.04			566			368			0.01
Severance expenses		139			91			0.00			1,226			797			0.02			216			141			0.00
(Gain) Loss on sale of long-lived assets, net of impairment		1,078			701			0.02			4,213			2,738			0.08			(225	)		(146	)		(0.00	)
(Reversal of) Provision for FDIC clawback liability		—			—			—			(797	)		(518	)		(0.02	)		—			—			—
Other non-operating non-interest expense		2			1			(0.00	)		1			1			(0.00	)		(311	)		(202	)		(0.01	)
Total non-interest expense adjustments		3,174			2,289			0.07			6,394			4,156			0.12			246			161			0.01
Income tax benefits		—			(2,959	)		(0.09	)		—			—			—			—			—			—
Operating earnings (Non-GAAP)		48,675			35,023			1.05			48,602			34,671			1.04			35,006			25,753			0.87
Covered and acquired (reversal of) provision for loan losses		2,474			1,608			0.05			1,692			1,100			0.03			79			51			0.00
Other provision for loan losses		4,021			2,614			0.08			4,022			2,614			0.08			4,621			3,004			0.10
Pre-provision operating earnings (Non-GAAP)	$	55,170		$	39,245		$	1.17		$	54,316		$	38,385		$	1.15		$	39,706		$	28,808		$	0.97

(1) Per share amounts may not appear to foot due to rounding.

(2) After-tax amounts estimated based on a 35% marginal tax rate.

24

Table 12 - IBERIBANK CORPORATON

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ⁽¹⁾

(dollars in thousands)

	For The Year Ended
	December 31, 2014									December 31, 2013
	Dollar Amount									Dollar Amount
	Pre-tax			After-tax (2)			Per share			Pre-tax			After-tax (2)			Per share
Net Income (Loss) (GAAP)	$	140,200		$	105,450		$	3.30		$	80,972		$	65,103		$	2.20
Non-interest income adjustments
Gain on sale of investments and other non-interest income		(2,757	)		(2,319	)		(0.07	)		(2,334	)		(1,517	)		(0.05	)
Non-interest expense adjustments
Merger-related expenses		15,093			10,104			0.32			783			509			0.02
Severance expenses		6,951			4,518			0.14			2,538			1,649			0.05
(Gain) Loss on sale of long-lived assets, net of impairment		7,073			4,597			0.14			37,183			24,169			0.81
(Reversal of) Provision for FDIC clawback liability		(797	)		(518	)		(0.02	)		797			518			0.02
Debt prepayment		—			—			—			2,307			1,500			0.05
Other non-operating non-interest expense		200			130			0.01			934			608			0.03
Total non-interest expense adjustments		28,520			18,831			0.59			44,542			28,952			0.97
Income tax benefits		—			(2,959	)		(0.09	)		—			—			—
Operating earnings (Non-GAAP)		165,963			119,004			3.73			123,180			92,538			3.12
Covered and acquired (reversal of) provision for loan losses		6,018			3,912			0.12			(786	)		(511	)		(0.02	)
Other (reversal of) provision for loan losses		13,042			8,477			0.27			5,932			3,856			0.13
Pre-provision operating earnings (Non-GAAP)	$	185,023		$	131,392		$	4.12		$	128,326		$	95,883		$	3.23

(1) Per share amounts may not appear to foot due to rounding.

(2) After-tax amounts estimated based on a 35% marginal tax rate.

25

EX-99.2

MAKING THE MOST OF IT

4Q14 Earnings Conference Call

Supplemental Presentation*

January 28, 2015

Exhibit 99.2

*A complete copy of this supplemental presentation was previously

furnished to the SEC on Exhibit 99.2 to a separate Current Report on

Form 8-K dated January 28, 2015.

Safe Harbor And Legend

2

To the extent that statements in this press release and the accompanying PowerPoint presentation

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.

The

Company’s

actual

strategies,

results

and

financial

condition

in

future

periods

may

differ

materially

from

those

currently

expected

due

to

various

risks

and

uncertainties. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that

change over time and could cause actual results or financial condition to differ materially from those expressed in

or implied by such statements.  Consequently, no forward-looking statement can be guaranteed.

In connection with the proposed mergers, IBERIABANK Corporation has filed or will file Registration

Statements on Form S-4 that will contain proxy statement / prospectuses. INVESTORS AND SECURITY

HOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT / PROSPECTUSES REGARDING

THE PROPOSED TRANSACTIONS WHEN THEY BECOME AVAILABLE, BECAUSE SUCH DOCUMENTS WILL

CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the proxy

statement / prospectuses (when they are available) and other documents containing information about the

pending transactions with Florida Bank Group, Inc., Old Florida Bancshares, Inc. and Georgia Commerce

Bancshares, Inc., without charge, at the SEC’s website at http://www.sec.gov. Copies of the proxy statement /

prospectuses and the SEC filings that will be incorporated by reference in the proxy statement / prospectuses

may also be obtained for free from the IBERIABANK Corporation website, www.iberiabank.com, under the

heading “Investor Information”.

This communication is not a solicitation of any vote or approval, is not an offer to purchase shares of common

stock of Old Florida Bancshares, Inc. or Georgia Commerce Bancshares, Inc., nor is it an offer to sell shares of

IBERIABANK Corporation common stock which may be issued in the proposed mergers.  The issuance of

IBERIABANK

Corporation

common

stock

in

any

proposed

merger

would

have

to

be

registered

under

the

Securities Act of 1933, as amended, and such IBERIABANK Corporation common stock would be offered only by

means of a prospectus complying with the Act.

3

•

Reported EPS of $1.07 (up $0.15 from 3Q14) and non-GAAP operating EPS of $1.05 (up

$0.01 from 3Q14)

•

Tax

equivalent

net

interest

income

increased

$2.8

million,

or

2%

from

3Q14,

while

average

earning assets increased $154 million, or 1%

•

Announced three acquisitions; Florida Bank Group, Inc., Old Florida Bancshares, Inc., and

Georgia Commerce Bancshares, Inc.

•

Legacy loan growth:

•

Legacy deposit growth:

•

Net interest margin increased four bps to 3.53%, which exceeded previously disclosed

guidance range of 3.45% to 3.50%

•

Tangible operating efficiency ratio increased to 65.9% in 4Q14 from 65.7% in 3Q14

•

Tax-equivalent operating revenues up $3 million or +2% (+7% annualized)

•

$2.9 million income tax benefit resulting in a $0.09 per share increase in non-operating EPS

Overview

$489 million since September 30, 2014 (+21% annualized), including $324

million of Commercial and $165 million of Small Business and Consumer

Growth in the loan portfolio was 34% Retail and Small Business and 66%

Commercial

$143 million since September 30, 2014 (+5% annualized)

$38 million increase in non-interest bearing deposits (+5% annualized)

Introductory Comments – Fourth Quarter 2014

4

•

Successfully completed and converted three acquisitions.  Synergies better than expected

and deposit attrition less than expected.

•

Loan growth in 18 of 21 markets and deposit growth in 17 of 21 markets.

•

Average

asset

growth

of

$1.6

billion

in

2014,

up

13%

compared

to

2013.

•

Between year-end 2013 and 2014, improvement in nearly all asset quality metrics.  Strategic

goal is top quartile performance throughout the planning period.

•

Net interest margin improved 13 basis points in 2014 to 3.51%, which exceeded previously

disclosed guidance range of 3.45% to 3.50%.

•

Tax equivalent operating revenues increased $74 million, or 13% compared to 2013.

•

Operating expenses increased $17 million, or 4%, compared to 2013, resulting in positive

operating leverage of 4.5 times.

•

Tangible operating efficiency ratio improved 600 basis points, from 74.6% in 2013 to 68.5%

in 2014.  The ratio improved further to 65.9% in 4Q14.  Strategic goal is below 60% by 4Q16.

•

Operating return on average tangible common equity of 9.94% in 2014, compared to 8.48%

in 2013, and 11.17% in 4Q14 (11.46% on a reported basis.)  Strategic goal is 13.00% to

17.00% by 4Q16.

•

Reported EPS of $3.30 (up 50% from 2013) and non-GAAP operating EPS of $3.73 (up 20%

from 2013).  Strategic goal is double-digit percentage growth year-over-year in operating

EPS throughout the planning period.

Overview

Introductory Comments – Year of 2014

5

Overview

Non-Performing Assets Trends

$ in millions

NPA determination based on regulatory guidance for Acquired portfolios

4Q14 includes $12 million of Bank-related properties reclassified to OREO

No energy loans classified as

non-performing assets at

December 31, 2014

6

Overview

Allowance Coverage To NPAs –

Legacy IBKC

•

4Q14 Allowance for

loan losses of $76.2

million

•

4Q14 Reserve for

unfunded lending

commitments of $11.8

million

•

Legacy NPAs of $57.0

million; including

approximately $12

million of OREO bank-

related properties

•

Excluding former bank-

related properties,

ACL/NPAs equals

193.7%

Excludes all covered and acquired assets

7

Financial Results

Non-Interest Income –

4Q14 Components

•

Operating non-

interest income

increased $0.2

million, or less than

1%, on a linked

quarter basis

•

Non-operating

income of $0.4

million includes:

•

$0.2 million in

gains on sales of

investments

•

$0.2 million of

other non-

operating income

8

•

Mortgage 4Q14 Non-Interest Income of $13.6

million is $0.6 million lower than 3Q14 driven by

•

$0.6 million lower market value adjustment

gains (-$1.1million recognized in 4Q14 versus

-$0.5 million in 3Q14)

•

$0.7 million higher hedging costs ($3.2 million

in 4Q14 versus $2.5 million in 3Q14)

•

$0.7 million higher gains on lower sales

volume (-5%) and higher sales margins (+4%)

•

Loan originations were up $3 million in 4Q14 to

$459 million from $456 million in 3Q14 (+1%)

•

The pipeline plus loans held for sale at December

31

st

was 13% lower than at September 30, 2014

Financial Results

Mortgage Income

9

•

Operating non-

interest expense

increased $2.2

million, or 2%, on

a linked-quarter

basis

•

Non-operating

expense of $3.2

million includes:

•

$1.1 million in

impairment of

long-lived

assets

•

$2.1 million of

merger-related

expenses

Financial Results

Non-Interest Expense –

4Q14 Components

10

Seasonal Influences

11

Seasonal Influences

Quarterly Organic Loan Growth

•

First quarter of each year tends to exhibit

slower loan growth than other quarters due

to seasonal factors

•

4Q14 organic loan growth of $489 million,

+21% annualized growth

•

4Q14 quarterly organic loan growth was the

second strongest in company history

12

Seasonal Influences

Capital Markets and Wealth Management

•

ICP revenues -36%

compared to 3Q14

•

IWA revenues +8%

compared to 3Q14

•

IFS revenues -13%

compared to 3Q14

•

$1.0 million decline in

revenues at ICP due to

lower investment

banking and capital

market activities

income as a result of

rapid decline in energy

prices during 4Q14

•

IWA assets under

management

increased $137 million

(+11%) to $1.4 billion

on December 31, 2014

13

Seasonal Influences

Payroll Taxes and Retirement Contributions

Influenced by impact of Teche acquisition

completed in May 2014 and First Private

acquisition completed in June 2014

Seasonal Influences

Checking NSF Related Charges

Influenced by impact of

Teche acquisition completed

in May 2014

14

Appendix

15

16

Appendix

Performance Metrics –

Quarterly Trends

•

Average earning

assets up $0.2

billion (+1%)

•

T/E net interest

income up $3

million (+2%)

•

Provision for loan

losses of $6 million:

•

Legacy net charge-

offs: $1.5 million

(0.06% annualized

rate)

•

Covered and

acquired net

charge-offs: $0.2

million (0.05%

annualized rate)

•

Legacy provision

for loan losses:

$4.0 million

12/31/2013

3/31/2014

6/30/2014

9/30/2014

12/31/2014

Net Income ($ in thousands)

25,604

$    

22,395

$ 

16,227

$ 

30,892

$ 

35,936

$    

16%

Per Share Data:

Fully Diluted Earnings

0.86

$        

0.75

$      

0.53

$      

0.92

$      

1.07

$        

16%

Operating Earnings (Non-GAAP)

0.87

0.73

0.89

1.04

1.05

1%

Pre-provision Operating Earnings  (Non-GAAP)

0.97

0.78

0.99

1.15

1.17

2%

Tangible Book Value

37.17

37.59

37.30

37.83

39.11

3%

Key Ratios:

Return on Average Assets

0.77%

0.68%

0.46%

0.79%

0.91%

12

bps

Return on Average Common Equity

6.62%

5.83%

3.99%

6.78%

7.78%

100

bps

Return on Average Tangible Common Equity (Non-GAAP)

9.43%

8.36%

5.88%

10.10%

11.46%

136

bps

Net Interest Margin (TE)

(1)

3.52%

3.54%

3.49%

3.49%

3.53%

4

bps

Tangible Operating Efficiency Ratio (TE)

(1)

(Non-GAAP)

69.9%

73.6%

69.9%

65.7%

65.9%

15

bps

Tangible Common Equity Ratio (Non-GAAP)

8.55%

8.61%

8.44%

8.45%

8.60%

15

bps

Tier 1 Leverage Ratio

9.70%

9.61%

10.00%

9.21%

9.36%

15

bps

Tier 1 Common Ratio (Non-GAAP)

10.55%

10.44%

10.30%

10.32%

10.32%

(0)

bps

Total Risk Based Capital Ratio

12.82%

12.69%

12.41%

12.40%

12.30%

(10)

bps

Net Charge-Offs to Average Loans

(2)

0.07%

0.05%

0.04%

0.09%

0.06%

(3)

bps

Non-performing Assets to Total Assets

(2)

0.61%

0.49%

0.53%

0.46%

0.41%

(5)

bps

(1)

Fully taxable equivalent basis.

(2)

Excluding FDIC Covered Assets and Acquired Assets.

Linked Quarter

%/Basis Point

Change

For Quarter Ended:

17

Appendix

Performance Metrics –

Yields and Costs

9/30/2014

12/31/2014

Investment Securities

2.20%

2.24%

4

bps

Covered Loans, net of loss share receivable

3.07%

3.57%

50

bps

Legacy Loans, net

3.97%

3.94%

(3)

bps

Non-Covered Acquired Loans, net

6.63%

6.94%

31

bps

Loans & Loss Share Receivable

4.31%

4.32%

1

bps

Mortgage Loans Held For Sale

3.90%

3.95%

5

bps

Other Earning Assets

0.60%

0.80%

20

bps

Total Earning Assets

3.83%

3.88%

5

bps

Interest-bearing Deposits

0.39%

0.41%

2

bps

Short-Term Borrowings

0.17%

0.19%

2

bps

Long-Term Borrowings

2.75%

2.73%

(2)

bps

Total Interest-bearing Liabilities

0.46%

0.48%

2

bps

Net Interest Spread

3.38%

3.41%

3

bps

Net Interest Margin

3.49%

3.53%

4

bps

(1)

Earning asset yields are shown on a fully taxable-equivalent basis.

For Quarter Ended:

Linked Quarter

Basis Point

Change

18

Appendix

Non-GAAP Cash Margin

•

Adjustments represent accounting

impacts of purchase discounts on

acquired loans and related accretion

as well as the I/A and related

amortization on the covered portfolio

Balances, as

Reported

Adjustments

As Adjusted

4Q13

Average Balance

11,853,896

3,929

11,857,825

Income

103,438

(2,072)

101,366

Rate

3.52%

-0.03%

3.49%

1Q14

Average Balance

12,088,186

16,847

12,105,029

Income

104,408

(2,517)

101,890

Rate

3.54%

-0.09%

3.45%

2Q14

Average Balance

12,687,971

30,318

12,718,289

Income

109,273

392

109,665

Rate

3.49%

0.01%

3.50%

3Q14

Average Balance

13,990,358

44,149

14,034,507

Income

121,751

(4,170)

117,581

Rate

3.49%

-0.13%

3.36%

4Q14

Average Balance

14,144,762

54,669

14,199,431

Income

124,680

(6,076)

118,603

Rate

3.53%

-0.18%

3.35%

19

Appendix

Non-Interest Income Trends

•

Mortgage income decreased $0.6 million, or -4%

•

Capital markets revenue decreased $1.0 million, or -36%

•

Credit Card fee income increased $0.8 million, or +30%

•

Corporate owned life insurance income increased $1.0 million

due to valuation adjustments on investments (mostly offset by

an increase to non-interest expense)

4Q14 originations up 1% from 3Q14

Refinancings were 36% of production, up

from 25% in 3Q14

Sales decreased 5% in 4Q14

Margins 5% higher in 4Q14

Pipeline of $137 million at quarter-end,

down 19% as compared to September 30,

2014.  At January 23, 2015, the locked

pipeline was $200 million or +46% over

December 31, 2014

3Q14 and 4Q14 includes full quarter of Teche and First Private results

Non-interest Income ($000s)

4Q13

1Q14

2Q14

3Q14

4Q14

$ Change

% Change

Service Charges on Deposit Accounts

7,455

$   

7,012

$   

8,203

$   

10,205

$ 

10,153

$ 

(52)

$       

-1%

ATM / Debit Card Fee Income

2,493

2,467

2,937

3,287

3,331

44

1%

BOLI Proceeds and CSV Income

900

934

934

1,047

1,050

3

0%

Mortgage Income

12,356

10,133

13,755

14,263

13,646

(617)

-4%

Title Revenue

4,327

4,167

5,262

5,577

5,486

(91)

-2%

Broker Commissions

4,986

4,048

5,479

5,297

3,960

(1,337)

-25%

Other Noninterest Income

6,179

5,129

7,182

6,854

9,071

2,217

32%

Noninterest income excluding non-operating income

38,696

33,890

43,752

46,530

46,697

167

0%

Gain (Loss) on Sale of Investments, Net

19

19

8

582

164

(418)

-72%

Other Non-operating income

-

1,772

1

-

211

211

100%

Total Non-interest Income

38,715

$ 

35,681

$ 

43,761

$ 

47,112

$ 

47,072

$ 

(40)

$       

0%

4Q14 vs. 3Q14

20

Appendix

Non-Interest Expense Trends

•

Non-interest expenses excluding non-operating items up

$2.4 million, or 2%, as compared to 3Q14

•

Total expenses down $0.8 million, or -1%, in 4Q14

•

Severance expense down $1.1 million, mostly related to

Teche acquisition

•

Impairment of long-lived assets down $3.1 million

•

Merger-related expense increased $0.2 million

•

Tangible Operating Efficiency Ratio of 65.9%, up from

65.7% in 3Q14

3Q14 and 4Q14 includes full quarter of Teche and First Private results

Non-interest Expense ($000s)

4Q13

1Q14

2Q14

3Q14

4Q14

$ Change

% Change

Mortgage Commissions

3,169

$      

2,215

$      

3,481

$      

3,912

$      

4,045

$      

133

$      

3%

Hospitalization Expense

3,899

3,944

3,661

4,611

4,606

(5)

0%

Other Salaries and Benefits

52,108

53,582

55,921

54,898

56,784

1,886

3%

Salaries and Employee Benefits

59,176

$   

59,741

$   

63,063

$   

63,421

$   

65,435

$   

2,013

$   

3%

Credit/Loan Related

2,776

3,560

3,093

4,569

2,483

(2,086)

-46%

Occupancy and Equipment

13,971

13,775

13,918

14,580

14,526

(54)

0%

Amortization of Acquisition Intangibles

1,177

1,218

1,347

1,623

1,618

(5)

0%

All Other Non-interest Expense

25,328

27,328

28,744

29,771

32,146

2,375

8%

Nonint. Exp. (Ex-Non-Operating Exp.)

102,428

$ 

105,622

$ 

110,165

$ 

113,965

$ 

116,208

$ 

2,243

$   

2%

Severance

216

119

5,466

1,226

139

(1,087)

-89%

Occupancy and Branch Closure Costs

-

17

14

-

-

-

100%

Storm-related expenses

-

184

4

1

2

1

143%

Impairment of Long-lived Assets, net of gains on sales

(225)

541

1,241

4,213

1,078

(3,135)

-74%

Provision for FDIC clawback liability

-

-

-

(797)

-

797

-100%

Debt Prepayment

-

-

-

-

-

-

100%

Termination of Debit Card Rewards Program

(311)

(22)

-

-

-

-

100%

Consulting and Professional

-

-

-

-

-

-

100%

Merger-Related Expenses

566

967

10,419

1,752

1,955

203

12%

Total Non-interest Expense

102,674

$ 

107,428

$ 

127,309

$ 

120,360

$ 

119,382

$ 

(978)

$     

-1%

Tangible Efficiency Ratio - excl Nonop-Exp

69.9%

73.6%

69.9%

65.7%

65.9%

4Q14 vs. 3Q14

Linked quarter increases/decreases of:

Equity compensation expense

$1.2 mil

Corporate-owned life insurance expense

Marketing and business development

0.5

Legal and professional fees

0.6

Credit/Loan related expense

(2.1)

Decreased payroll tax expense

(0.5)

0.7

21

Appendix

Non-Operating Items (Non-GAAP)

Non-operating adjustments equal to $3.2 million pre-tax or $0.02 EPS after-tax:

•

4Q14 Merger related expense of $2.0 million pre-tax or $0.04 EPS after-tax

•

4Q14 Severance expense of $0.1 million pre-tax or less than $0.01 EPS after-tax

•

Net impairment expense of $1.1 million pre-tax or $0.02 EPS after-tax

•

Income tax benefits of ($3.0) million or ($0.09) after tax

Pre-tax

After-tax

(2)

Per share

Pre-tax

After-tax

(2)

Per share

Pre-tax

After-tax

(2)

Per share

Net Income (Loss) (GAAP)

34,779

$     

25,604

$     

0.86

$          

42,789

$     

30,892

$     

0.92

$          

45,875

$     

35,936

$     

1.07

$          

Non-interest income adjustments

Gain on sale of investments and other non-interest income

(19)

(12)

(0.00)

(582)

(378)

(0.01)

(374)

(243)

(0.01)

Non-interest expense adjustments

Merger-related expenses

566

368

0.01

1,752

1,139

0.04

1,955

1,496

0.04

Severance expenses

216

141

0.00

1,226

797

0.02

139

91

0.00

(Gain) Loss on sale of long-lived assets, net of impairment

(225)

(146)

(0.00)

4,213

2,738

0.08

1,078

701

0.02

(Reversal of) Provision for FDIC clawback liability

-

-

-

(797)

(518)

(0.02)

-

-

-

Other non-operating non-interest expense

(311)

(202)

(0.01)

1

1

(0.00)

2

1

(0.00)

Total non-interest expense adjustments

246

161

0.01

6,394

4,156

0.12

3,174

2,289

0.07

Income tax benefits

-

-

-

-

-

-

-

(2,959)

(0.09)

Operating earnings (Non-GAAP)

(3)

35,006

25,752

0.87

48,602

34,671

1.04

48,675

35,023

1.05

Covered and acquired impaired (reversal of) provision for loan losses

79

51

0.00

1,692

1,100

0.03

2,474

1,608

0.05

Other (reversal of) provision for loan losses

4,621

3,004

0.10

4,022

2,614

0.08

4,021

2,614

0.08

Pre-provision

operating

earnings

(Non-GAAP)

(3)

39,706

$     

28,808

$     

0.97

$          

54,316

$     

38,385

$     

1.15

$          

55,170

$     

39,245

$     

1.17

$          

(1) Per share amounts may not appear to foot due to rounding.

(2) After-tax amounts estimated based on a 35% marginal tax rate.

RECONCILIATION

OF

NON-GAAP

FINANCIAL

MEASURES

(1)

(dollars in thousands)

For The Quarter Ended

December 31, 2013

September 30, 2014

December 31, 2014

Dollar Amount

Dollar Amount

Dollar Amount

22

Appendix

Prior Period Adjustments

•

Purchase accounting adjustments represent adjustments to the fair values of

loans, mortgage servicing rights, and core deposit intangibles as recorded on the

acquisition date for the Teche transaction.

•

Correction adjustments represent recognition of timing adjustments of mortgage-

related income amounts recorded in the second and third quarters.

$ in thousands, except per share data

As Reported

Updated

As Reported

Updated

Net Interest Income

108,979

$    

294

$

0

$     

109,273

$

121,041

$    

710

$

(0)

$    

121,751

$

Non-Interest Income

47,963

(13)

(4,189)

43,761

45,663

(38)

1,487

47,112

Non-Interest Expense

127,375

104

(170)

127,309

120,060

130

170

120,360

EPS,

Diluted

-

GAAP

0.60

$          

0.00

$

(0.08)

$

0.53

$     

0.89

$          

0.01

$

0.02

$

0.92

$     

EPS,

Diluted

-

Operating

(Non-GAAP)

0.96

0.00

(0.07)

0.89

1.00

0.01

0.03

1.04

Book Value per Share

53.86

$        

-

$ 

(0.09)

$

53.77

$   

54.35

$        

0.02

$

(0.05)

$

54.32

$   

Tangible Book Value per Share

37.41

(0.04)

(0.07)

37.30

37.91

(0.03)

(0.05)

37.83

Return on Average Assets

0.53%

-

bps

(7)

bps

0.46%

0.76%

1

bps

2

bps

0.79%

Return on Average Common Equity

4.56%

3

bps

(60)

bps

3.99%

6.52%

8

bps

18

bps

6.78%

Return on Average Tangible Common  Equity

6.62%

10

bps

(84)

bps

5.88%

9.68%

15

bps

27

bps

10.10%

Net Interest Margin (TE)

3.48%

1

bps

-

bps

3.49%

3.47%

2

bps

-

bps

3.49%

2Q 2014

3Q 2014

Correction

Correction

Purchase

Accounting

Adjustment

Purchase

Accounting

Adjustment