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): April 22, 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:

¨ 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 7.01 Regulation FD Disclosure

On April 22, 2015, the Registrant announced its results of operations for the three months ended March 31, 2015. 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 quarterly results, dated April 22, 2015, issued by the Registrant.

Exhibit 99.2- 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: April 23, 2015	By:	/s/ Daryl G. Byrd
	Daryl G. Byrd
	President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number
99.1	Press Release reporting first quarter results dated April 22, 2015, issued by the Registrant.
99.2	Supplemental Materials to conference call.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

April 22, 2015

Contact:

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

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

IBERIABANK Corporation Reports First Quarter Results

LAFAYETTE, LOUISIANA — IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 128-year-old IBERIABANK (www.iberiabank.com), reported operating results for the first quarter ended March 31, 2015. For the quarter, the Company reported income available to common shareholders of $25.1 million, or $0.75 fully diluted earnings per share (“EPS”). In the first quarter of 2015, the Company incurred non-operating expenses net of non-operating revenue equal to $10.0 million on a pre-tax basis, or $0.20 per share on an after-tax basis. Excluding non-operating items, EPS in the first quarter of 2015 was $0.95 per share on a non-GAAP operating basis (refer to press release supplemental table.)

The Company completed the acquisition of Florida Bank Group, Inc. (“Florida Bank Group”) on February 28, 2015, and Old Florida Bancshares, Inc. (“Old Florida”) on March 31, 2015. Financial statements reflect the impact of the acquisitions beginning on their respective acquisition dates and are subject to future refinements to purchase accounting adjustments. The Company incurred approximately $9.3 million in pre-tax acquisition and conversion-related costs during the first quarter of 2015.

Florida Bank Group was headquartered in Tampa, Florida, and added 12 bank offices in the Tampa Bay area, Jacksonville, and Tallahassee. The acquisition added $305 million in loans (after preliminary discounts) and $392 million in deposits. The conversions of branch and operating systems of Florida Bank Group were successfully completed on March 14-15, 2015.

Old Florida was headquartered in Orlando, Florida, and added 14 bank offices in Orlando and surrounding areas. The acquisition added $1.1 billion in loans (after preliminary discounts) and $1.4 billion in deposits. The conversions of branch and operating systems are anticipated to be completed in the second quarter of 2015.

The Company signed a definitive agreement to acquire by merger Georgia Commerce Bancshares, Inc. (“Georgia Commerce”) based in Atlanta, Georgia. The pending acquisition received regulatory approval, the registration statement was declared effective by the Securities and Exchange Commission, and the special meeting of Georgia Commerce shareholders is scheduled for May 21, 2015. At December 31, 2014, Georgia Commerce had total assets of $1.0 billion, gross loans of $746 million, total deposits of $858 million, and nine bank offices. The Company anticipates closing the transaction on May 31, 2015, subject to the approval of Georgia Commerce shareholders.

Daryl G. Byrd, President and Chief Executive Officer, commented, “We welcome the shareholders of Florida Bank Group and Old Florida to our Company. The branch and operating conversions of Florida Bank Group were successfully completed in 13 days after closing and Old Florida’s conversions are expected to be completed within 46 days of closing. Pending approval of their shareholders, the Georgia Commerce merger is scheduled to be completed in 39 days with conversions to be completed by the end of the second quarter, or within 26 days of closing. We are very excited about the growth prospects, synergies, diversification, and 35 banks offices that these three mergers bring to our clients and Company.”

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Byrd continued, “We had a solid first quarter with a one-basis point increase in the margin on a linked quarter basis, 7% annualized legacy loan growth and 11% annualized legacy deposit growth (with particular strength in non-interest bearing and money market deposits), and the results were within a penny of our budgeted and forecasted operating EPS results for the first quarter. A few ‘timing-related’ items masked the true strength of the quarter’s operating results, including enhancing the reserves for energy credits and related markets to buffer against potential losses given current industry conditions, some non-recurring benefit expenses, and FDIC recovery expenses – all of which we consider to be operating in nature. We feel very good about the second quarter, with seasonal influences abating, synergies from Florida Bank, and strength of the mortgage business. Based on current market interest rate expectations and assumptions, we remain comfortable with the previously provided guidance range for operating EPS for the full year of 2015 in the range of $4.45 to $4.50 per share, equal to a 19% to 21% increase compared to 2014 operating results.”

Highlights for the first quarter of 2015 and March 31, 2015:

• The net interest margin increased one basis point on a linked quarter basis to 3.54%, which was slightly above management’s expectations.

• Energy-related loans declined $61 million, or 7%, between December 31, 2014 and March 31, 2015, due to loan pay-downs and pay-offs. Energy-related loans declined from 7.7% of total loans at year-end 2014 to 6.4% at March 31, 2015. The Company expects energy-related loans to be less than 6.0% of total loans upon completion of the Georgia Commerce acquisition. During the first quarter of 2015, the Company accrued $1.3 million in provisions for loan loss and unfunded commitments associated with the Company’s energy portfolio and market exposure. At March 31, 2015, the Company had accrued $9.8 million in aggregate reserves for energy-related loans and unfunded commitments. The Company continues to forecast little or no losses on the exploration and production or midstream energy loans outstanding (69% of energy loans outstanding at March 31, 2015.)

• Total loan growth was $1.4 billion, or 13%, between December 31, 2014 and March 31, 2015. Despite a $61 million decline in energy-related loans and $30 million decline in indirect automobile loans between quarter-ends, legacy loan growth, which excludes all assets covered under FDIC loss share agreements and other non-covered acquired assets (collectively, “Acquired Assets”), increased $181 million, or 2% (7% annualized rate). The legacy loan growth was spread between commercial (38%), small business (22%), consumer (25%), and mortgage (14%).

• Total deposits increased $2.1 billion, or 17%, between quarter-ends, and increased $351 million, or 3%, excluding acquisitions (11% annualized rate). Legacy non-interest-bearing and money market deposits increased by 27% and 14%, respectively, on an annualized growth rate basis.

• Operating results were impacted by seasonal influences and one month’s results from Florida Bank (prior to the achievement of anticipated synergistic benefits). On a linked quarter basis, operating revenues increased $2.9 million, while operating expenses increased $6.8 million. Operating revenues included seasonal declines in service charges on deposit accounts (down $0.9 million), title income (down $0.9 million), and credit card income (down $0.8 million). In addition, seasonally fewer business days negatively impacted net interest income by $2.2 million. On an operating basis, the Company incurred $1.5 million in FDIC recovery expenses that will be reversed primarily over the next two years and $0.6 million in non-recurring benefit costs.

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Table A - Summary Financial Results

	For the Quarter Ended:									Linked Quarter % Change
Selected Financial Data	3/31/2014			12/31/2014			3/31/2015
Net Income ($ in thousands)	$	22,336		$	35,936		$	25,126			-30	%
Per Share Data:
Fully Diluted Earnings	$	0.75		$	1.07		$	0.75			-31	%
Operating Earnings (Non-GAAP)		0.73			1.05			0.95			-10	%
Pre-provision Operating Earnings (Non-GAAP)		0.78			1.17			1.05			-11	%
Tangible Book Value		37.56			39.08			39.26			0	%
	As of and for the Quarter Ended:									Linked Quarter
										Basis Point
Key Ratios	3/31/2014			12/31/2014			3/31/2015			Change
Return on Average Assets		0.68	%		0.91	%		0.64	%		(27	) bps
Return on Average Common Equity		5.82	%		7.79	%		5.40	%		(239	) bps
Return on Average Tangible Common Equity (Non-GAAP)		8.35	%		11.46	%		7.93	%		(353	) bps
Net Interest Margin (TE) (1)		3.54	%		3.53	%		3.54	%		1	bps
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) (1)		73.5	%		65.9	%		68.5	%		268	bps
Tangible Common Equity Ratio (Non-GAAP)		8.60	%		8.59	%		8.62	%		3	bps
Tier 1 Leverage Ratio (4)		9.61	%		9.36	%		9.04	%		(32	) bps
Common Equity Tier 1 (CET1) Ratio (4)								9.79	%
Total Risk Based Capital Ratio (4)		12.68	%		12.30	%		11.62	%		(68	) bps
Net Charge-Offs to Average Loans (2)		0.05	%		0.06	%		0.06	%		0	bps
Non-performing Assets to Total Assets (2)		0.49	%		0.41	%		0.55	%		14	bps

	For the Quarter Ended:
	GAAP						Non-GAAP
Adjusted Selected Key Ratios	3/31/2015			Adjustments (3)			3/31/2015
Return on Average Assets		0.64	%		0.17	%		0.81	%
Return on Average Common Equity		5.40	%		1.41	%		6.81	%
Return on Average Tangible Common Equity (Non-GAAP)		7.93	%		2.00	%		9.93	%
Tangible Efficiency Ratio (TE)(1) (Non-GAAP)		74.2	%		(5.7	%)		68.5	%

⁽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 9, net of tax where applicable, without adjustment to any balance sheet accounts.

⁽⁴⁾  March 31, 2015 Capital Ratios reflect the implementation of Basel III capital requirements, excluding the impact of the Old Florida Bancshares, Inc. acquisition. Prior periods have not been restated to reflect BASEL III implementation.

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 $312 million, or 2%, as average loans increased $280 million, or 2%, average indemnification assets (“IA”) declined $20 million, or 23%, average investment securities increased $73 million, or 3%, and other earning assets decreased $21 million, or 4%. Also on a linked quarter basis, the average earning asset yield increased two basis points, the cost of interest-bearing deposits decreased one basis point, and the cost of interest-bearing liabilities increased one basis point. As a result, the net interest spread remained stable, and the net interest margin increased one basis point. Tax-equivalent net interest income increased $1 million, or 1%, 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⁾

	For Quarter Ended:									Linked Quarter
										Basis Point
	3/31/2014			12/31/2014			3/31/2015			Change
Investment Securities		2.23	%		2.24	%		2.22	%		(2	) bps
Covered Loans, net of loss share receivable		3.18	%		3.57	%		3.82	%		25	bps
Legacy Loans, net		4.06	%		3.94	%		3.90	%		(4	) bps
Non-Covered Acquired Loans, net		8.23	%		6.94	%		6.91	%		(3	) bps
Loans & Loss Share Receivable		4.27	%		4.32	%		4.33	%		1	bps
Mortgage Loans Held For Sale		3.69	%		3.95	%		4.55	%		60	bps
Other Earning Assets		1.27	%		0.80	%		0.81	%		1	bps
Total Earning Assets		3.87	%		3.88	%		3.90	%		2	bps
Interest-bearing Deposits		0.36	%		0.41	%		0.40	%		(1	) bps
Short-Term Borrowings		0.17	%		0.19	%		0.19	%		(0	) bps
Long-Term Borrowings		3.42	%		2.73	%		2.91	%		18	bps
Total Interest-bearing Liabilities		0.44	%		0.48	%		0.49	%		1	bps
Net Interest Spread		3.43	%		3.41	%		3.41	%		0	bps
Net Interest Margin		3.54	%		3.53	%		3.54	%		1	bps

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

During the first quarter, the legacy loan yield declined four basis points, while the non-covered acquired loan yield decreased three basis points, and the net covered loan yield (net of IA amortization) increased 25 basis points. The average covered loan volume declined $203 million, or 44%, average non-covered acquired loans increased $188 million, or 14%, and average legacy loans increased $295 million, or 3%. As a result of changes in volumes and yields, the associated net covered income declined $2 million 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 FDIC-related loan portfolios in which non-single family residential FDIC loss share coverage expired.

In the first quarter of 2015, non-interest income on both an aggregate basis and operating basis each increased $1.8 million, or 4%, compared to the fourth quarter of 2014. The primary changes in operating non-interest income on a linked quarter basis were:

• Increased mortgage income of $4.4 million, or 32%; partially offset by

• Decreased title insurance income of $0.9 million, or 16%;

• Decreased service charge income on deposit accounts of $0.9 million, or 9%; and

• Decreased credit card fee income of $0.8 million, or 24%.

Mortgage non-interest income increased $4.4 million on a linked quarter basis due to increased origination volume of $36 million and growth in the mortgage origination locked pipeline of $211 million. The Company experienced unseasonably strong production and sales volumes, with less favorable pricing dynamics in the first quarter of 2015. Mortgage commission and production incentives expense (which is included in non-interest expense) increased less than $0.1 million, or 1%, on a linked quarter basis.

In the first quarter of 2015, the Company originated $495 million in residential mortgage loans, up $36 million, or 8%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 24% of mortgage loan applications in the first quarter of 2015, down compared to 36% in the fourth quarter of 2014. The Company sold

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$442 million in mortgage loans during the first quarter of 2015, down $22 million, or 5%, on a linked quarter basis. The mortgage origination locked pipeline and loans held for sale doubled between December 31, 2014, and March 31, 2015, to $278 million at quarter-end. At April 17, 2015, the locked pipeline was $317 million, up $25 million, or 9%, compared to March 31, 2015. 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 March 31, 2015, up 6% compared to December 31, 2014. Revenues for IWA increased 5% on a linked quarter basis, and were up 16% compared to the first quarter of 2014. IBERIA Financial Services revenues increased 4% on a linked quarter basis, and were down 2% compared to the first quarter of 2014. The rapid decline in energy prices since November 2014 resulted in a general softness in activities at IBERIA Capital Partners (“ICP”) since that time. ICP experienced a 6% increase in revenues on a linked quarter basis. Through the first 22 days of April 2015, ICP’s total revenues were 82% of the unit’s total revenues in the first quarter of 2015.

Non-interest expense increased $14.0 million, or 12%, on a linked quarter basis, while operating expense increased $6.8 million, or 6%. Operating expense changes included the following on a linked-quarter basis:

• Increased Florida Bank Group operating expenses of $0.7 million for the month of March 2015;

• Increased payroll tax expense (excluding Florida Bank Group) of $2.1 million;

• Increased occupancy and equipment expense of $1.4 million;

• Increased provision for unfunded commitments of $1.3 million;

• Increased marketing and business development expenses of $0.7 million; and

• Increased benefit expense of $0.9 million; partially offset by

• Decreased professional services expenses of $0.9 million; and

• Decreased net OREO costs of $0.7 million.

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 compared to 30.6% in the first quarter of 2015. No additional tax benefits of this nature were realized during the first quarter of 2015. The Company considered the tax benefit to be of a non-operating nature.

Loans

Total loans increased $1.4 billion, or 13%, between December 31, 2014, and March 31, 2015. The Company acquired $305 million in loans in the Florida Bank Group acquisition and $1.1 billion in the Old Florida acquisition. The loan portfolio covered under FDIC loss share protection at March 31, 2015, decreased $193 million, or 43%, compared to December 31, 2014. Excluding covered and Acquired Assets, total loans increased $181 million, or 2% (7% annualized rate), during the first quarter. Legacy commercial loans increased $109 million, or 2% (which included $39 million in business banking loan growth, up 5%, or 18% annualized rate), legacy consumer loans increased $46 million, or 2%, and legacy mortgage loans increased $26 million, or 5%, during the quarter. Period-end legacy loan growth during the first quarter of 2015 was strongest in the Dallas, Birmingham, Tampa Bay, Southeast Florida, and Baton Rouge markets. Funded loan origination and renewal mix in the first quarter of 2015 was 35% fixed rate and 65% floating rate, and total loans outstanding (excluding nonaccruals) were 49% fixed and 51% floating. Loans and commitments originated and/or renewed during the first quarter of 2015 totaled $1.0 billion (down 29% on a linked quarter basis).

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

	Period-End Balances ($ Millions)
					3/31/15						% Change									Mix
	3/31/14		12/31/14		Excluding Acquired (3)		Acquired		Total		Year/Year (1)			Qtr/Qtr (2)			Annualized			12/31/14			3/31/15
Commercial	$	6,142	$	7,002	$	7,111	$	—	$	7,111		16	%		2	%		6	%		61	%		55	%
Consumer		1,883		2,139		2,185		—		2,185		16	%		2	%		9	%		19	%		17	%
Mortgage		429		528		554		—		554		29	%		5	%		20	%		4	%		4	%
Legacy Loans	$	8,453	$	9,669	$	9,850	$	—	$	9,850		17	%		2	%		7	%		84	%		76	%
Acquired Loans		524		1,328		1,405		1,367		2,772		429	%		6	%		23	%		12	%		22	%
Covered Loans		664		444		251		—		251		-62	%		-43	%		-174	%		4	%		2	%
Total Loans	$	9,641	$	11,441	$	11,506	$	1,367	$	12,873		34	%		1	%		2	%		100	%		100	%

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

⁽²⁾  Quarter over Quarter growth excludes the impact of current period acquisitions.

⁽³⁾  Excludes loans acquired during the current period.

Energy-related loans outstanding totaled $819 million at March 31, 2015, down $61 million, or 7%, compared to December 31, 2014, and equated to approximately 6.4% of total loans. Loans to exploration and production companies accounted for 52% of energy loans outstanding and 54% of energy commitments at March 31, 2015. Midstream companies accounted for 17% of energy loans and commitments, and service company loans accounted for 31% of energy loans and 29% 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 was exiting 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 March 31, 2015, the Company’s indirect automobile lending business had approximately $367 million in loans outstanding, down $30 million, or 8%, compared to December 31, 2014 (2.9% of total loans outstanding compared to 3.5% at year-end 2014).

Deposits

Total deposits increased $2.1 billion, or 17%, from December 31, 2014 to March 31, 2015. The Company acquired $392 million in deposits in the Florida Bank Group merger and $1.4 billion in the Old Florida merger. Excluding the acquisitions, total deposits increased $351 million, or 3% (an 11% annualized growth rate), since year-end 2014.

The two acquired companies had $457 million in aggregate non-interest-bearing deposits, or 25% of their aggregate total deposits. Legacy non-interest-bearing deposits increased $212 million, or 7% (27% annualized basis), and equated to 26% of total deposits at March 31, 2015. Legacy NOW accounts decreased $35 million, or 1%, while money market and savings account volume increased $162 million, or 3% (14% annualized basis), between December 31, 2014 and March 31, 2015. Time deposits increased $13 million, or 1%, between quarter-ends. Period-end deposit growth during the first quarter of 2015 was strongest in the Naples, Little Rock, Birmingham, Dallas, and Lake Charles markets.

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

	Period-End Balances ($ Millions)
					3/31/15						% Change									Mix
	3/31/14		12/31/14		Excluding Acquired (3)		Acquired		Total		Year/Year (1)			Qtr/Qtr (2)			Annualized			12/31/14			3/31/15
Non-interest	$	2,729	$	3,195	$	3,407	$	457	$	3,864		2	%		7	%		27	%		26	%		26	%
NOW Accounts		2,194		2,463		2,428		302		2,730		24	%		-1	%		-6	%		19	%		19	%
Savings/MMkt		4,347		4,746		4,908		888		5,796		33	%		3	%		14	%		38	%		40	%
Time Deposits		1,629		2,116		2,129		149		2,278		40	%		1	%		2	%		17	%		15	%
Total Deposits	$	10,899	$	12,521	$	12,872	$	1,796	$	14,668		35	%		3	%		11	%		100	%		100	%

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

⁽²⁾  Quarter over Quarter growth excludes the impact of current period acquisitions.

⁽³⁾  Excludes deposits acquired during the current period.

On an average balance and linked quarter basis, non-interest-bearing deposits increased $80 million, or 2%, and interest-bearing deposits increased $152 million, or 2%. The rate on average interest-bearing deposits in the first quarter of 2015 was 0.40%, a decrease of one basis point on a linked quarter basis.

Other Assets And Funding

On a linked quarter basis, excess liquidity averaged $320 million in the first quarter of 2015, down $33 million, or 9%, and increased to $696 million at March 31, 2015. Also on a linked quarter basis, the investment portfolio increased $73 million, or 3%, to $2.3 billion on average in the first quarter of 2015. On a period-end basis, the investment portfolio equated to $2.5 billion, or 14% of total assets at March 31, 2015, unchanged compared to December 31, 2014. The investment portfolio had an effective duration of 2.7 years at March 31, 2015, compared to 2.9 years at December 31, 2014. The investment portfolio had a $28.8 million unrealized gain at March 31, 2015. The average yield on investment securities decreased two basis points on a linked quarter basis to 2.22% in the first quarter of 2015. The Company holds in its investment portfolio primarily government agency securities. Municipal securities comprised only 6.5% of total investments at March 31, 2015. 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 increased $34 million, or 5%, and the cost of short-term debt remained stable at 0.19%. Average long-term debt increased $28 million, or 7%, and the cost of debt increased 18 basis points to 2.91%. The cost of average interest-bearing liabilities was 0.49% in the first quarter of 2015, an increase of one basis point 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 April 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 December 31, 2014 and March 31, 2015, legacy NPAs increased $25 million, or 44%, due primarily to two legacy non-energy-related relationships totaling $24 million that moved to non-accrual status. The Company

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believes these loan relationships are well secured and sufficiently reserved to address credit concerns. The increase in NPAs also included a $2 million increase in former bank branches and related land. At March 31, 2015, those bank-related properties in OREO totaled $14 million, or 17% of total legacy NPAs. At March 31, 2015, legacy NPAs equated to 0.55% of total assets and 0.46% of total assets excluding bank-related properties.

Legacy loans past due 30 days or more (excluding non-accruing loans) decreased $12 million, or 41%, and represented 0.18% of total loans at March 31, 2015, compared to 0.31% at December 31, 2014.

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)	3/31/2014			12/31/2014			3/31/2015			Year/Year			Qtr/Qtr
Non-performing Assets	$	59,456		$	56,967		$	81,957			38	%		44	%
Note: NPAs excluding Former Bank Properties		50,453			45,411			68,353			35	%		51	%
Past Due Loans (excluding non-accrual loans)		11,453			30,321			17,845			56	%		-41	%
Classified Assets		64,476			78,890			91,248			42	%		16	%
Non-performing Assets/Assets		0.49	%		0.41	%		0.55	%		6	bps		14	bps
NPAs/(Loans + OREO)		0.70	%		0.59	%		0.83	%		13	bps		24	bps
Classified Assets/Total Assets		0.53	%		0.57	%		0.61	%		8	bps		4	bps
Past Dues Loans/Loans		0.14	%		0.31	%		0.18	%		4	bps		(13	) bps
Provision For Loan Losses	$	1,995		$	4,998		$	4,176			109	%		-16	%
Net Charge-Offs/(Recoveries)		1,014			1,538			1,578			56	%		3	%
Provision Less Net Charge-Offs	$	981		$	3,460		$	2,598			165	%		-25	%
Net Charge-Offs/Average Loans		0.05	%		0.06	%		0.06	%		1	bps		0	bps
Allowance For Loan Losses/Loans		0.81	%		0.79	%		0.80	%		(1	) bps		1	bps
Allowance for Credit Losses to Total Loans		0.94	%		0.91	%		0.93	%		(1	) bps		2	bps

8

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.

Table F – Acquired Assets By Portfolio Type ⁽¹⁾

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

($ thousands)	Acquired FDIC Covered Assets						Acquired Non-Covered Assets						Total Acquired Assets
	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) (3)
Loans, net	$	16,647		$	234,473		$	586,926		$	2,185,999		$	3,024,045
Other Real Estate Owned		3,639			7,736			20,165			—			31,540
Allowance for Loan Losses		(1,492	)		(12,638	)		(35,047	)		(363	)		(49,540	)
Non-accrual loans	$	17		$	46,657		$	77,512		$	11,121		$	135,307
Foreclosed assets		—			—			622			1			623
Other real estate owned		3,639			7,736			15,027			4,515			30,917
Accruing Loans More Than 90 Days Past Due		—			—			273			5,130			5,403
Non-performing Assets		3,656			54,393			93,434			20,766			172,250
Total Past Due Loans	$	17		$	49,922		$	83,142		$	22,858		$	155,939
Non-performing Assets to Total Loans and OREO		18.02	%		22.46	%		15.51	%		0.20	%		5.58	%
Past Due and Non-accrual Loans to Loans		0.10	%		21.29	%		14.17	%		0.20	%		5.16	%
Provision For Loan Losses	$	—		$	150		$	811		$	207		$	1,169
Net Charge-Offs/(Recoveries)		—			(20	)		85			92			157
Provision Less Net Charge-Offs	$	—		$	170		$	726		$	116		$	1,012
Net Charge-Offs to Average Loans		0.00	%		-0.03	%		0.06	%		0.02	%		0.04	%
Allowance for Loan Losses to Loans		8.96	%		5.39	%		5.97	%		0.02	%		1.64	%
Allowance for Credit Losses to Total Loans		8.96	%		5.39	%		5.97	%		0.02	%		1.64	%
Indemnification asset collectible from the FDIC and OREO	$	—		$	8,832		$	—		$	—		$	8,832

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

⁽²⁾  The classification of assets acquired from Florida Bank Group and Old Florida as SOP or Non-SOP assets is preliminary and subject to change. At March 31, 2015, Florida Bank Group loans of $11.3 million and $291.6 million are included in SOP and Non-SOP assets, respectively. Old Florida loans of $1.1 billion have been included as Non-SOP loans at March 31, 2015.

⁽³⁾  Loan balance includes discounts of $75 million.

Capital Position

The Company maintains favorable capital strength. At March 31, 2015, the Company reported a tangible common equity ratio of 8.62%, up three basis points compared to December 31, 2014. At March 31, 2015, the Company’s preliminary Tier 1 leverage ratio was 9.04%, down 32 basis points compared to December 31, 2014. The Company’s preliminary total risk-based capital ratio at March 31, 2015, was 11.62%, down 68 basis points compared to December 31, 2014.

Commencing in the first quarter of 2015, the Company experienced 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, the expiration of certain FDIC loss share coverage, and full implementation of risk-weighting according to BASEL III capital requirements reduced the Company’s Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk based capital ratio by approximately 38, 96, and 60 basis points, respectively, at March 31, 2015.

9

At March 31, 2015, book value per share was $56.77, up $1.40 per share, or 3%, compared to December 31, 2014. Tangible book value per share was $39.26, up $0.18 per share, or less than 1%, compared to December 31, 2014. Based on the closing stock price of the Company’s common stock of $63.83 per share on April 22, 2015, this price equated to 1.12 times March 31, 2015 book value and 1.63 times March 31, 2015 tangible book value per share.

On March 25, 2015, 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 2.13%.

IBERIABANK Corporation

The Company is a financial holding company with 314 combined offices, including 216 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 63 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 $2.4 billion, based on the NASDAQ Global Select Market closing stock price on April 22, 2015.

The following 11 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.

• 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, April 23, 2015, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003. The confirmation code for the call is 3576101. A replay of the call will be available until midnight Central Time on April 30, 2015 by dialing 1-877-344-7529. The confirmation code for the replay is 10062708. 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

10

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

Assumptions Regarding Projected Earnings in Future Periods

The Company’s operating EPS guidance for full year 2015 was based on the following significant assumptions:

• Recent forward interest rate curve projections;

• Completion of the currently pending acquisition in the first half of 2015;

• No significant change in credit quality;

• No significant changes to the preliminary purchase accounting marks assumed on the Company’s most recently completed acquisitions;

• No significant cash flow or credit quality changes on Acquired Assets;

• Mortgage, title insurance, and capital markets projections continue to reflect the current environment and expectations.

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 merger with Georgia Commerce Bancshares, Inc., the expected returns and other benefits of the proposed merger to shareholders, expected improvement in operating efficiency resulting from the proposed merger, estimated expense reductions resulting from the transaction 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 merger 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 merger will close when expected, the expected returns and other benefits of the proposed merger to shareholders will be achieved, the expected operating efficiencies will result, estimated expense reductions resulting from the transaction 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 transaction may not be timely completed, if at all; that prior to completion of the merger transaction 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 transaction; 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, 2014, and other documents subsequently filed by the Company with the SEC. Consequently, no forward-looking statement can be guaranteed. Neither the Company nor Georgia Commerce Bancshares, Inc. undertakes any obligation to update or revise any forward-looking statement, 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 and Georgia Commerce Bancshares, Inc., claim protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

11

This communication is being made in respect of the proposed merger transaction involving the Company and Georgia Commerce 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 filed with the SEC a registration statement on Form S-4 that includes a proxy statement/prospectus for the shareholders of Georgia Commerce Bancshares, Inc. The Company also plans to file other documents with the SEC regarding the pending merger transaction with Georgia Commerce Bancshares, Inc. Georgia Commerce Bancshares, Inc. will mail the 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 TRANSACTION. The proxy statement/prospectus, as well as other filings containing information about the Company and Georgia Commerce Bancshares, Inc., is available without charge, at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus 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 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. in respect of the proposed merger transaction. Information regarding the directors and executive officers of the Company is set forth in the definitive proxy statement for the Company’s 2015 annual meeting of shareholders, as filed with the SEC on April 9, 2015, 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 to be participants in the solicitation of shareholders of Georgia Commerce Bancshares, Inc. in connection with the proposed transaction is included in the proxy statement/prospectus for the Georgia Commerce Bancshares, Inc. special meeting of shareholders, which will be filed with the SEC. Additional information regarding the interests of such participants will be included in the proxy statement/prospectus and other relevant documents regarding the proposed merger transaction filed with the SEC when they become available.

12

Table 1 - IBERIABANK CORPORATION ⁽¹⁾

FINANCIAL HIGHLIGHTS

	For The Quarter Ended									For The Quarter Ended
	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Income Data (in thousands):
Net Interest Income	$	125,804		$	104,408			20	%	$	124,680			1	%
Net Interest Income (TE) (2)		127,844			106,637			20	%		126,735			1	%
Net Income		25,126			22,336			12	%		35,936			(30	%)
Earnings Available to Common Shareholders - Basic		25,126			22,336			12	%		35,936			(30	%)
Earnings Available to Common Shareholders - Diluted		24,782			21,931			13	%		35,406			(30	%)
Per Share Data:
Earnings Available to Common Shareholders - Basic	$	0.75		$	0.75			0	%	$	1.08			(31	%)
Earnings Available to Common Shareholders - Diluted		0.75			0.75			0	%		1.07			(31	%)
Operating Earnings (Non-GAAP)		0.95			0.73			30	%		1.05			(10	%)
Book Value		56.77			52.01			9	%		55.37			3	%
Tangible Book Value (3)		39.26			37.56			5	%		39.08			0	%
Cash Dividends		0.34			0.34			—			0.34			—
Closing Stock Price		63.03			70.15			(10	%)		64.85			(3	%)
Key Ratios: (4)
Operating Ratios:
Return on Average Assets		0.64	%		0.68	%					0.91	%
Return on Average Common Equity		5.40	%		5.82	%					7.79	%
Return on Average Tangible Common Equity (3)		7.93	%		8.35	%					11.46	%
Net Interest Margin (TE) (2)		3.54	%		3.54	%					3.53	%
Efficiency Ratio		76.2	%		76.5	%					69.4	%
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) (2) (3)		68.5	%		73.5	%					65.7	%
Full-time Equivalent Employees		2,883			2,576						2,757
Capital Ratios:
Tangible Common Equity Ratio (Non-GAAP)		8.62	%		8.60	%					8.59	%
Tangible Common Equity to Risk-Weighted Assets		9.92	%		10.38	%					10.37	%
Tier 1 Leverage Ratio (6)		9.04	%		9.61	%					9.36	%
Tier 1 Capital Ratio (6)		10.19	%		11.44	%					11.18	%
Total Risk Based Capital Ratio (6)		11.62	%		12.68	%					12.30	%
Common Stock Dividend Payout Ratio		51.7	%		45.7	%					31.7	%
Classified Assets to Tier 1 Capital		19.0	%		27.7	%					18.6	%
Asset Quality Ratios:
Excluding FDIC Covered Assets and Acquired Assets
Non-performing Assets to Total Assets (5)		0.55	%		0.49	%					0.41	%
Allowance for Loan Losses to Loans		0.80	%		0.81	%					0.79	%
Net Charge-offs to Average Loans		0.06	%		0.05	%					0.06	%
Non-performing Assets to Total Loans and OREO (5)		0.83	%		0.70	%					0.59	%
	For The Quarter Ended						For The Quarter Ended
	March 31,						December 31,			September 30,			June 30,
	2015			2015			2014			2014			2014
Balance Sheet Summary (in thousands):	End of Period			Average			Average			Average			Average
Excess Liquidity (7)	$	696,000		$	320,357		$	353,716		$	489,221		$	237,712
Total Investment Securities		2,456,055			2,337,785			2,261,569			2,168,345			2,120,988
Loans, Net of Unearned Income		12,873,461			11,552,018			11,271,752			11,009,833			9,998,533
Loans, Net of Unearned Income, Excluding Covered Assets and Acquired Assets		9,849,416			9,734,053			9,438,869			9,019,127			8,643,859
Total Assets		18,054,671			15,939,485			15,614,323			15,476,208			14,041,182
Total Deposits		14,668,073			12,746,402			12,514,479			12,222,997			11,071,698
Total Shareholders’ Equity		2,167,330			1,887,086			1,831,232			1,806,110			1,631,664

⁽¹⁾  Certain balances and amounts in prior periods have been restated for the effect of the adoption of ASU No. 2014-01 in the current period.

⁽²⁾  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%.

⁽³⁾  Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

⁽⁴⁾  All ratios are calculated on an annualized basis for the period indicated.

⁽⁵⁾  Nonperforming assets consist of nonaccruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.

⁽⁶⁾  March 31, 2015 Capital Ratios reflect the implementation of Basel III capital requirements, excluding the impact of the Old Florida Bancshares, Inc. acquisition. Prior periods have not been restated to reflect BASEL III implementation.

⁽⁷⁾  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.

1

Table 2 - IBERIABANK CORPORATION ⁽¹⁾

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

BALANCE SHEET (End of Period)	March 31,									December 31,
	2015			2014			% Change			2014			% Change
ASSETS
Cash and Due From Banks	$	271,290		$	285,271			(4.9	%)	$	251,994			7.7	%
Interest-bearing Deposits in Banks		696,000			145,037			379.9	%		296,101			135.1	%
Total Cash and Equivalents		967,290			430,308			124.8	%		548,095			76.5	%
Investment Securities Available for Sale		2,342,613			1,933,314			21.2	%		2,158,853			8.5	%
Investment Securities Held to Maturity		113,442			150,660			(24.7	%)		116,960			(3.0	%)
Total Investment Securities		2,456,055			2,083,974			17.9	%		2,275,813			7.9	%
Mortgage Loans Held for Sale		215,043			131,478			63.6	%		140,072			53.5	%
Loans, Net of Unearned Income		12,873,461			9,641,294			33.5	%		11,441,044			12.5	%
Allowance for Loan Losses		(128,313	)		(134,602	)		(4.7	%)		(130,131	)		(1.4	%)
Loans, Net		12,745,148			9,506,692			34.1	%		11,310,913			12.7	%
Loss Share Receivable		60,972			141,185			(56.8	%)		69,627			(12.4	%)
Premises and Equipment		337,201			287,387			17.3	%		307,159			9.8	%
Goodwill and Other Intangibles		672,120			435,636			54.3	%		548,131			22.6	%
Other Assets		600,842			533,572			12.6	%		558,094			7.7	%
Total Assets	$	18,054,671		$	13,550,232			33.2	%	$	15,757,904			14.6	%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	3,863,869		$	2,728,736			41.6	%	$	3,195,430			20.9	%
NOW Accounts		2,729,791			2,194,361			24.4	%		2,462,841			10.8	%
Savings and Money Market Accounts		5,796,443			4,346,662			33.4	%		4,746,017			22.1	%
Certificates of Deposit		2,277,970			1,629,104			39.8	%		2,116,237			7.6	%
Total Deposits		14,668,073			10,898,863			34.6	%		12,520,525			17.2	%
Short-term Borrowings		352,300			400,000			(11.9	%)		603,000			(41.6	%)
Securities Sold Under Agreements to Repurchase		252,602			283,086			(10.8	%)		242,742			4.1	%
Trust Preferred Securities		111,862			111,862			—			111,862			—
Other Long-term Debt		349,027			168,002			107.8	%		291,392			19.8	%
Other Liabilities		153,477			125,922			21.9	%		136,235			12.7	%
Total Liabilities		15,887,341			11,987,735			32.5	%		13,905,756			14.3	%
Total Shareholders’ Equity		2,167,330			1,562,497			38.7	%		1,852,148			17.0	%
Total Liabilities and Shareholders’ Equity	$	18,054,671		$	13,550,232			33.2	%	$	15,757,904			14.6	%
BALANCE SHEET (Average)	March 31,			December 31,			September 30,			June 30,			March 31,
	2015			2014			2014			2014			2014
ASSETS
Cash and Due From Banks	$	243,508		$	239,377		$	229,556		$	237,631		$	234,924
Interest-bearing Deposits in Banks		320,357			353,716			489,221			237,712			114,621
Investment Securities		2,337,785			2,261,569			2,168,345			2,120,988			2,116,166
Mortgage Loans Held for Sale		133,238			121,438			163,510			140,096			96,019
Loans, Net of Unearned Income		11,552,018			11,271,752			11,009,833			9,998,533			9,551,363
Allowance for Loan Losses		(128,519	)		(134,177	)		(133,443	)		(132,049	)		(139,726	)
Loss Share Receivable		66,165			85,733			111,383			131,375			154,634
Other Assets		1,414,933			1,414,915			1,437,803			1,306,896			1,234,236
Total Assets	$	15,939,485		$	15,614,323		$	15,476,208		$	14,041,182		$	13,362,237
LIABILITIES AND SHAREHOLDERS’ EQUITY
Non-interest-bearing Deposits	$	3,308,604		$	3,228,773		$	3,057,513		$	2,748,468		$	2,623,075
NOW Accounts		2,462,232			2,271,836			2,228,378			2,229,264			2,230,745
Savings and Money Market Accounts		4,825,917			4,908,247			4,877,051			4,372,855			4,296,360
Certificates of Deposit		2,149,649			2,105,623			2,060,055			1,721,111			1,665,943
Total Deposits		12,746,402			12,514,479			12,222,997			11,071,698			10,816,122
Short-term Borrowings		483,413			449,190			627,192			632,778			285,383
Securities Sold Under Agreements to Repurchase		263,628			264,194			292,677			274,681			299,106
Trust Preferred Securities		111,862			111,862			111,862			111,862			111,862
Long-term Debt		311,633			283,548			247,108			192,845			168,367
Other Liabilities		135,461			159,818			168,262			125,654			125,072
Total Liabilities		14,052,399			13,783,091			13,670,098			12,409,518			11,805,912
Total Shareholders’ Equity		1,887,086			1,831,232			1,806,110			1,631,664			1,556,325
Total Liabilities and Shareholders’ Equity	$	15,939,485		$	15,614,323		$	15,476,208		$	14,041,182		$	13,362,237

⁽¹⁾  Certain balances and amounts in prior periods have been restated for the effect of the adoption of ASU No. 2014-01 in the current period.

Table 3 - IBERIABANK CORPORATION ⁽¹⁾

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)

	For The Three Months Ended
INCOME STATEMENT	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Interest Income	$	138,585		$	114,232			21.3	%	$	137,276			1.0	%
Interest Expense		12,781			9,824			30.1	%		12,596			1.5	%
Net Interest Income		125,804			104,408			20.5	%		124,680			0.9	%
Provision for Loan Losses		5,345			2,103			154.2	%		6,495			(17.7	%)
Net Interest Income After Provision for Loan Losses		120,459			102,305			17.7	%		118,185			1.9	%
Service Charges		9,262			7,012			32.1	%		10,153			(8.8	%)
ATM / Debit Card Fee Income		3,275			2,467			32.8	%		3,331			(1.7	%)
BOLI Proceeds and Cash Surrender Value Income		1,092			2,441			(55.3	%)		1,050			4.0	%
Mortgage Income		18,023			10,133			77.9	%		13,646			32.1	%
Gain (Loss) on Sale of Investments, Net		389			19			1945.6	%		164			137.5	%
Title Revenue		4,629			4,167			11.1	%		5,486			(15.6	%)
Broker Commissions		4,162			4,048			2.8	%		3,960			5.1	%
Other Non-interest Income		8,067			5,394			49.5	%		9,282			(13.1	%)
Total Non-interest Income		48,899			35,681			37.0	%		47,072			3.9	%
Salaries and Employee Benefits		72,696			59,861			21.4	%		65,445			11.1	%
Occupancy and Equipment		16,260			13,991			16.2	%		14,594			11.4	%
Amortization of Acquisition Intangibles		1,525			1,218			25.2	%		1,618			(5.8	%)
Other Non-interest Expense		42,672			32,164			32.7	%		37,478			13.9	%
Total Non-interest Expense		133,153			107,234			24.2	%		119,135			11.8	%
Income Before Income Taxes		36,205			30,752			17.7	%		46,122			(21.5	%)
Income Tax Expense		11,079			8,416			31.6	%		10,186			8.8	%
Net Income	$	25,126		$	22,336			12.5	%	$	35,936			(30.1	%)
Preferred Stock Dividends		—			—			—			—			—
Earnings Available to Common Shareholders - Basic		25,126			22,336			12.5	%		35,936			(30.1	%)
Earnings Allocated to Unvested Restricted Stock		(344	)		(405	)		(14.9	%)		(530	)		(35.0	%)
Earnings Available to Common Shareholders - Diluted	$	24,782		$	21,931			13.0	%	$	35,406			(30.0	%)
Earnings Per Share, Diluted	$	0.75		$	0.75			0.0	%	$	1.07			(30.6	%)
Impact of Non-Operating Items (Non-GAAP)	$	0.20		$	(0.02	)		(1309.6	%)	$	(0.02	)		(929.5	%)
Earnings Per Share, Diluted, Excluding Non-operating Items (Non-GAAP)	$	0.95		$	0.73			29.7	%	$	1.05			(9.5	%)
NUMBER OF SHARES OUTSTANDING
Basic Shares - All Classes (Average)		33,659,016			29,813,609			12.9	%		33,332,691			1.0	%
Diluted Shares - Common Shareholders (Average)		33,235,069			29,417,290			13.0	%		32,947,152			0.9	%
Book Value Shares (Period End) (2)		38,178,420			30,040,025			27.1	%		33,453,404			14.1	%
	2015			2014
INCOME STATEMENT	First			Fourth			Third			Second			First
	Quarter			Quarter			Quarter			Quarter			Quarter
Interest Income	$	138,585		$	137,276		$	133,793		$	119,514		$	114,232
Interest Expense		12,781			12,596			12,042			10,241			9,824
Net Interest Income		125,804			124,680			121,751			109,273			104,408
Provision for Loan Losses		5,345			6,495			5,714			4,748			2,103
Net Interest Income After Provision for Loan Losses		120,459			118,185			116,037			104,525			102,305
Total Non-interest Income		48,899			47,072			47,112			43,761			35,681
Total Non-interest Expense		133,153			119,135			120,112			127,132			107,234
Income Before Income Taxes		36,205			46,122			43,037			21,154			30,752
Income Tax Expense		11,079			10,186			12,144			4,937			8,416
Net Income	$	25,126		$	35,936		$	30,893		$	16,217		$	22,336
Preferred Stock Dividends		—			—			—			—			—
Earnings Available to Common Shareholders - Basic		25,126			35,936			30,893			16,217			22,336
Earnings Allocated to Unvested Restricted Stock		(344	)		(530	)		(465	)		(258	)		(405	)
Earnings Available to Common Shareholders - Diluted	$	24,782		$	35,406		$	30,428		$	15,959		$	21,931
Earnings Per Share, Basic	$	0.75		$	1.08		$	0.93		$	0.53		$	0.75
Earnings Per Share, Diluted	$	0.75		$	1.07		$	0.92		$	0.53		$	0.75
Book Value Per Common Share	$	56.77		$	55.37		$	54.30		$	53.76		$	52.01
Tangible Book Value Per Common Share	$	39.26		$	39.08		$	37.81		$	37.28		$	37.56
Return on Average Assets		0.64	%		0.91	%		0.79	%		0.46	%		0.68	%
Return on Average Common Equity		5.40	%		7.79	%		6.79	%		3.99	%		5.82	%
Return on Average Tangible Common Equity		7.93	%		11.46	%		10.10	%		5.88	%		8.35	%

⁽¹⁾  Certain balances and amounts in prior periods have been restated for the effect of the adoption of ASU No. 2014-01 in the current period.

⁽²⁾ Shares used for book value purposes exclude shares held in treasury at the end of the period.

Table 4 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

LOANS	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Residential Mortgage Loans	$	1,164,286		$	600,083			94.0	%	$	1,080,297			7.8	%
Commercial Loans:
Real Estate		5,157,670			3,952,733			30.5	%		4,405,133			17.1	%
Business		3,751,993			2,989,783			25.5	%		3,408,949			10.1	%
Total Commercial Loans		8,909,663			6,942,516			28.3	%		7,814,082			14.0	%
Consumer Loans:
Indirect Automobile		367,349			379,545			(3.2	%)		397,158			(7.5	%)
Home Equity		1,858,088			1,319,264			40.8	%		1,601,105			16.1	%
Automobile		160,518			96,599			66.2	%		149,901			7.1	%
Credit Card Loans		72,711			63,988			13.6	%		73,393			(0.9	%)
Other		340,846			239,299			42.4	%		325,108			4.8	%
Total Consumer Loans		2,799,512			2,098,695			33.4	%		2,546,665			9.9	%
Total Loans		12,873,461			9,641,294			33.5	%		11,441,044			12.5	%
Allowance for Loan Losses		(128,313	)		(134,602	)					(130,131	)
Loans, Net	$	12,745,148		$	9,506,692					$	11,310,913
Reserve for Unfunded Commitments		(12,849	)		(11,519	)		11.5	%		(11,801	)		8.9	%
Allowance for Credit Losses		(141,161	)		(146,121	)		(3.4	%)		(141,932	)		(0.5	%)
ASSET QUALITY DATA (1)	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Non-accrual Loans	$	195,371		$	229,962			(15.0	%)	$	169,686			15.1	%
Foreclosed Assets		675			1,301			(48.2	%)		905			(25.5	%)
Other Real Estate Owned		52,519			91,864			(42.8	%)		53,042			(1.0	%)
Accruing Loans More Than 90 Days Past Due		5,642			981			475.2	%		1,708			230.3	%
Total Non-performing Assets	$	254,207		$	324,108			(21.6	%)	$	225,341			12.8	%
Loans 30-89 Days Past Due	$	32,835		$	43,905			(25.2	%)	$	51,141			(35.8	%)
Non-performing Assets to Total Assets		1.41	%		2.39	%		(41.2	%)		1.43	%		(1.6	%)
Non-performing Assets to Total Loans and OREO		1.97	%		3.33	%		(40.9	%)		1.96	%		0.3	%
Allowance for Loan Losses to Non-performing Loans (2)		63.8	%		58.3	%		9.5	%		75.9	%		(15.9	%)
Allowance for Loan Losses to Non-performing Assets		50.5	%		41.5	%		21.5	%		57.7	%		(12.6	%)
Allowance for Loan Losses to Total Loans		1.00	%		1.40	%		(28.6	%)		1.14	%		(12.4	%)
Allowance for Credit Losses to Non-performing Loans (2)		70.2	%		63.3	%		11.0	%		82.8	%		(15.2	%)
Allowance for Credit Losses to Non-performing Assets		55.5	%		45.1	%		23.2	%		63.0	%		(11.8	%)
Allowance for Credit Losses to Total Loans		1.10	%		1.52	%		(27.6	%)		1.24	%		(11.6	%)
Year to Date Charge-offs	$	2,972		$	2,578			15.3	%	$	11,983			N/M
Year to Date Recoveries		(1,237	)		(1,810	)		(31.6	%)		(6,396	)		N/M
Year to Date Net Charge-offs	$	1,735		$	768			125.9	%	$	5,587			N/M
Quarter to Date Net Charge-offs	$	1,735		$	768			125.9	%	$	1,755			(1.1	%)
Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.06	%		0.03	%		86.7	%		0.06	%		(1.4	%)
Year to Date Net Charge-offs to Average Loans		0.06	%		0.03	%		86.8	%		0.05	%		14.1	%

(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 5 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

LOANS (Excluding Covered Assets and Acquired Assets) (1)	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Residential Mortgage Loans	$	553,815		$	428,576			29.2	%	$	527,694			5.0	%
Commercial Loans:
Real Estate		3,832,598			3,250,971			17.9	%		3,718,058			3.1	%
Business		3,278,266			2,890,804			13.4	%		3,284,140			(0.2	%)
Total Commercial Loans		7,110,864			6,141,775			15.8	%		7,002,198			1.6	%
Consumer Loans:
Indirect Automobile		367,077			378,260			(3.0	%)		396,766			(7.5	%)
Home Equity		1,335,390			1,122,306			19.0	%		1,290,976			3.4	%
Automobile		145,084			95,901			51.3	%		134,014			8.3	%
Credit Card Loans		72,164			63,373			13.9	%		72,745			(0.8	%)
Other		265,022			222,731			19.0	%		244,321			8.5	%
Total Consumer Loans		2,184,737			1,882,571			16.1	%		2,138,822			2.1	%
Total Loans		9,849,416			8,452,922			16.5	%		9,668,714			1.9	%
Allowance for Loan Losses		(78,773	)		(68,324	)					(76,174	)
Loans, Net	$	9,770,643		$	8,384,598					$	9,592,540
Reserve for Unfunded Commitments		(12,849	)		(11,519	)		11.5	%		(11,801	)		8.9	%
Allowance for Credit Losses		(91,622	)		(79,843	)		14.8	%		(87,975	)		4.1	%
ASSET QUALITY DATA (Excluding Covered Assets and Acquired Assets)(1)	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Non-accrual Loans	$	60,064		$	32,983			82.1	%	$	34,970			71.8	%
Foreclosed Assets		52			57			(8.6	%)		36			47.2	%
Other Real Estate Owned		21,602			26,147			(17.4	%)		21,207			1.9	%
Accruing Loans More Than 90 Days Past Due		239			269			(11.3	%)		754			(68.3	%)
Total Non-performing Assets	$	81,957		$	59,456			37.8	%	$	56,967			43.9	%
Loans 30-89 Days Past Due	$	17,606		$	11,183			57.4	%	$	29,567			(40.5	%)
Troubled Debt Restructurings (2)		18,434			8,806			109.3	%		3,639			406.6	%
Current Troubled Debt Restructurings (3)		1,386			1,283			8.0	%		1,430			(3.1	%)
Non-performing Assets to Total Assets		0.55	%		0.49	%		11.8	%		0.41	%		33.7	%
Non-performing Assets to Total Loans and OREO		0.83	%		0.70	%		18.4	%		0.59	%		41.2	%
Allowance for Loan Losses to Non-performing Loans (4)		130.6	%		205.5	%		(36.4	%)		213.2	%		(38.7	%)
Allowance for Loan Losses to Non-performing Assets		96.1	%		114.9	%		(16.4	%)		133.7	%		(28.1	%)
Allowance for Loan Losses to Total Loans		0.80	%		0.81	%		(1.1	%)		0.79	%		1.5	%
Allowance for Credit Losses to Non-performing Loans (1) (4)		151.9	%		240.1	%		(36.7	%)		246.3	%		(38.3	%)
Allowance for Credit Losses to Non-performing Assets (1)		111.8	%		134.3	%		(16.8	%)		154.4	%		(27.6	%)
Allowance for Credit Losses to Total Loans (1)		0.93	%		0.94	%		(1.5	%)		0.91	%		2.2	%
Year to Date Charge-offs	$	2,669		$	2,544			4.9	%	$	11,312			N/M
Year to Date Recoveries		(1,091	)		(1,530	)		(28.7	%)		(5,870	)		N/M
Year to Date Net Charge-offs (Recoveries)	$	1,578		$	1,014			55.6	%	$	5,442			N/M
Quarter to Date Net Charge-offs (Recoveries)	$	1,578		$	1,014			55.6	%	$	1,538			2.6	%
Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.06	%		0.05	%		26.8	%		0.06	%		(0.5	%)
Year to Date Net Charge-offs to Average Loans		0.06	%		0.05	%		39.5	%		0.06	%		5.4	%

⁽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.

Table 5A - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)

LOANS (Covered Assets and Acquired Assets Only) (1)	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Residential Mortgage Loans	$	610,471		$	171,507			255.9	%	$	552,603			10.5	%
Commercial Loans:
Real Estate		1,325,072			701,762			88.8	%		687,075			92.9	%
Business		473,727			98,979			378.6	%		124,809			279.6	%
Total Commercial Loans		1,798,799			800,741			124.6	%		811,884			121.6	%
Consumer Loans:
Indirect Automobile		272			1,285			(78.8	%)		392			(30.7	%)
Home Equity		522,698			196,958			165.4	%		310,129			68.5	%
Automobile		15,434			698			2111.2	%		15,887			(2.9	%)
Credit Card Loans		547			615			(11.1	%)		648			(15.6	%)
Other		75,824			16,568			357.7	%		80,787			(6.1	%)
Total Consumer Loans		614,775			216,124			184.5	%		407,843			50.7	%
Total Loans Receivable		3,024,045			1,188,372			154.5	%		1,772,330			70.6	%
Allowance for Loan Losses		(49,540	)		(66,278	)					(53,957	)
Loans, Net	$	2,974,505		$	1,122,094					$	1,718,373
ASSET QUALITY DATA (Covered Assets and Acquired Assets Only) (1)	March 31,									December 31,
	2015			2014			% Change			2014			% Change
Non-accrual Loans	$	135,307		$	196,979			(31.3	%)	$	134,716			0.4	%
Foreclosed Assets		623			1,244			(50.0	%)		870			(28.4	%)
Other Real Estate Owned		30,917			65,717			(53.0	%)		31,835			(2.9	%)
Accruing Loans More Than 90 Days Past Due		5,403			712			659.3	%		954			466.4	%
Total Non-performing Assets	$	172,250		$	264,652			(34.9	%)	$	168,375			2.3	%
Loans 30-89 Days Past Due	$	15,229		$	32,722			(53.5	%)	$	21,574			(29.4	%)
Non-performing Assets to Total Assets		5.58	%		18.84	%		(70.4	%)		9.11	%		(38.8	%)
Non-performing Assets to Total Loans and OREO		5.64	%		21.08	%		(73.3	%)		9.33	%		(39.6	%)
Allowance for Loan Losses to Non-performing Loans (2)		35.2	%		33.5	%		5.0	%		39.8	%		(11.5	%)
Allowance for Loan Losses to Non-performing Assets		28.8	%		25.0	%		14.8	%		32.0	%		(10.3	%)
Allowance for Loan Losses to Total Loans		1.64	%		5.58	%		(70.6	%)		3.04	%		(46.2	%)
Year to Date Charge-offs	$	303		$	34			N/M		$	671			N/M
Year to Date Recoveries		(146	)		(280	)		N/M			(526	)		N/M
Year to Date Net Charge-offs (Recoveries)		157			(246	)		(163.9	%)		145			N/M
Quarter to Date Net Charge-offs (Recoveries)		157			(246	)		N/M			217			N/M
Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.04	%		-0.08	%		N/M			0.05	%		N/M
Year to Date Net Charge-offs to Average Loans		0.04	%		-0.08	%		(143.1	%)		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

6

Table 6 - Non-Covered and Net Covered Loan Portfolio Volumes And Yields ($ in Millions)

As Reported (US GAAP)

	1Q 2014									2Q 2014									3Q 2014									4Q 2014									1Q 2015
	Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield
Legacy Loans, net	$	84.2		$	8,325			4.06	%	$	87.9		$	8,644			4.04	%	$	91.1		$	9,019			3.97	%	$	94.5		$	9,439			3.94	%	$	94.3		$	9,734			3.90	%
Acquired Loans, net		11.0			535			8.23	%		12.6			730			6.86	%		24.1			1,432			6.63	%		24.1			1,370			6.94	%		26.8			1,558			6.91	%
Covered Loans, net		25.9			691			15.00	%		23.0			625			14.70	%		30.2			559			21.64	%		18.1			463			15.29	%		9.0			260			14.06	%
FDIC Indemnification Asset		(19.3	)		155			-49.83	%		(17.0	)		131			-51.22	%		(25.1	)		111			-88.25	%		(13.2	)		86			-60.36	%		(6.0	)		66			-36.35	%
Covered Loans, net of Indemnification Asset Amortization	$	6.7		$	846			3.18	%	$	6.0		$	756			3.16	%	$	5.1		$	670			3.07	%	$	4.9		$	549			3.57	%	$	3.0		$	326			3.82	%
Adjustments
	1Q 2014									2Q 2014									3Q 2014									4Q 2014									1Q 2015
	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		(4.2	)		65			-3.79	%		(2.9	)		67			-2.03	%		(6.4	)		72			-1.97	%		(6.5	)		67			-2.06	%		(8.7	)		69			-2.50	%
Covered Loans, net		(17.5	)		106			-10.82	%		(13.7	)		95			-9.58	%		(22.8	)		84			-17.07	%		(12.8	)		74			-10.72	%		(6.3	)		64			-10.70	%
FDIC Indemnification Asset		19.3			(155	)		49.83	%		17.0			(131	)		51.22	%		25.1			(111	)		88.25	%		13.2			(86	)		60.36	%		6.0			(66	)		36.35	%
Covered Loans, net of Indemnification Asset Amortization	$	1.7		$	(48	)		1.01	%	$	3.3		$	(37	)		1.96	%	$	2.3		$	(27	)		1.50	%	$	0.4		$	(12	)		1.00	%	$	(0.3	)	$	(2	)		-0.46	%
As Adjusted (Cash Yield, Non-GAAP)
	1Q 2014									2Q 2014									3Q 2014									4Q 2014									1Q 2015
	Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield			Income			Average Balance			Yield
Legacy Loans, net	$	84.2		$	8,325			4.06	%	$	87.9		$	8,644			4.04	%	$	91.1		$	9,019			3.97	%	$	94.5		$	9,439			3.94	%	$	94.3		$	9,734			3.90	%
Acquired Loans, net		6.7			600			4.45	%		9.7			797			4.83	%		17.6			1,504			4.66	%		17.6			1,436			4.88	%		18.2			1,628			4.42	%
Covered Loans, net		8.4			798			4.18	%		9.3			719			5.13	%		7.4			642			4.57	%		5.3			537			4.57	%		2.7			323			3.36	%
FDIC Indemnification Asset		0.0			—			0.00	%		0.0			—			0.00	%		—			(0	)		0.00	%		—			—			0.00	%		—			—			0.00	%
Covered Loans, net of Indemnification Asset Amortization	$	8.4		$	798			4.18	%	$	9.3		$	719			5.13	%	$	7.4		$	642			4.57	%	$	5.3		$	537			4.57	%	$	2.7		$	323			3.36	%

Table 7 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)

				For The Quarter Ended
	March 31, 2015									December 31, 2014						March 31, 2014
				Average			Average			Average			Average			Average			Average
	Interest			Balance			Yield/Rate (%)			Balance			Yield/Rate (%)			Balance			Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	13,595		$	1,098,962			4.95	%	$	1,069,555			4.90	%	$	595,275			5.89	%
Commercial Loans (TE) (1)		83,644			7,873,270			4.31	%		7,656,992			4.65	%		6,890,647			5.07	%
Consumer and Other Loans		32,952			2,579,786			5.18	%		2,545,205			5.30	%		2,065,441			5.20	%
Total Loans		130,191			11,552,018			4.57	%		11,271,752			4.82	%		9,551,363			5.15	%
Loss Share Receivable		(6,013	)		66,165			-36.35	%		85,733			-60.36	%		154,634			-49.83	%
Total Loans and Loss Share Receivable		124,178			11,618,183			4.33	%		11,357,485			4.32	%		9,705,997			4.27	%
Mortgage Loans Held for Sale		1,515			133,238			4.55	%		121,438			3.95	%		96,019			3.69	%
Investment Securities (TE) (1)(2)		12,096			2,306,778			2.22	%		2,234,236			2.24	%		2,113,423			2.23	%
Other Earning Assets		796			398,692			0.81	%		431,603			0.80	%		172,742			1.27	%
Total Earning Assets		138,585			14,456,891			3.90	%		14,144,762			3.88	%		12,088,181			3.87	%
Allowance for Loan Losses					(128,519	)					(134,177	)					(139,726	)
Non-earning Assets					1,611,113						1,603,738						1,413,782
Total Assets				$	15,939,485					$	15,614,323					$	13,362,237
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	1,552		$	2,462,232			0.26	%	$	2,271,836			0.27	%	$	2,230,744			0.28	%
Savings and Money Market Accounts		3,375			4,825,917			0.28	%		4,908,247			0.30	%		4,296,360			0.26	%
Certificates of Deposit		4,411			2,149,649			0.83	%		2,105,623			0.80	%		1,665,943			0.71	%
Total Interest-bearing Deposits		9,338			9,437,798			0.40	%		9,285,706			0.41	%		8,193,047			0.36	%
Short-term Borrowings		363			747,041			0.19	%		713,384			0.19	%		584,489			0.17	%
Long-term Debt		3,080			423,495			2.91	%		395,410			2.73	%		280,229			3.42	%
Total Interest-bearing Liabilities		12,781			10,608,334			0.49	%		10,394,500			0.48	%		9,057,765			0.44	%
Non-interest-bearing Demand Deposits					3,308,604						3,228,773						2,623,075
Non-interest-bearing Liabilities					135,461						159,818						125,072
Total Liabilities					14,052,399						13,783,091						11,805,912
Shareholders’ Equity					1,887,086						1,831,232						1,556,325
Total Liabilities and Shareholders’ Equity				$	15,939,485					$	15,614,323					$	13,362,237
Net Interest Spread				$	125,804			3.41	%	$	124,680			3.41	%	$	104,408			3.43	%
Tax-equivalent Benefit					2,040			0.06	%		2,055			0.06	%		2,229			0.07	%
Net Interest Income (TE) / Net Interest Margin (TE) (1)				$	127,844			3.54	%	$	126,735			3.53	%	$	106,637			3.54	%

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

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

Table 8 - IBERIABANK CORPORATION ⁽¹⁾

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(dollars in thousands)

	For The Quarter Ended
	March 31, 2015			December 31, 2014			March 31, 2014
Net Interest Income (GAAP)	$	125,804		$	124,680		$	104,408
Effect of Tax Benefit on Interest Income		2,040			2,055			2,229
Net Interest Income (TE) (Non-GAAP) (2)		127,844			126,735			106,637
Non-interest Income (GAAP)		48,899			47,072			35,681
Effect of Tax Benefit on Non-interest Income		588			566			1,315
Non-interest Income (TE) (Non-GAAP) (2)		49,487			47,638			36,996
Taxable Equivalent Revenues (Non-GAAP) (2)		177,331			174,373			143,633
Securities Gains and other non-interest income		(389	)		(374	)		(1,791	)
Taxable Equivalent Operating Revenues (Non-GAAP) (2)	$	176,942		$	173,999		$	141,842
Total Non-interest Expense (GAAP)	$	133,153		$	119,135		$	107,234
Less Intangible Amortization Expense		(1,525	)		(1,618	)		(1,218	)
Tangible Non-interest Expense (Non-GAAP) (3)		131,628			117,517			106,016
Merger-related expenses		9,296			1,955			967
Severance expenses		41			139			119
(Gain) Loss on sale of long-lived assets, net of impairment		579			1,078			541
(Reversal of) Provision for FDIC clawback liability		—			—			—
Other non-operating non-interest expense		450			2			179
Tangible Operating Non-interest Expense (Non-GAAP) (3)	$	121,262		$	114,343		$	104,210
Return on Average Common Equity (GAAP)		5.40	%		7.79	%		5.82	%
Effect of Intangibles (3)		2.53	%		3.67	%		2.53	%
Effect of Non Operating Revenues and Expenses		1.78	%		(0.29	%)		(0.37	%)
Operating Return on Average Tangible Common Equity (Non-GAAP) (3)		9.71	%		11.17	%		7.98	%
Efficiency Ratio (GAAP)		76.2	%		69.4	%		76.5	%
Effect of Tax Benefit Related to Tax-exempt Income		(1.1	%)		(1.1	%)		(1.8	%)
Efficiency Ratio (TE) (Non-GAAP) (2)		75.1	%		68.3	%		74.7	%
Effect of Amortization of Intangibles		(0.9	%)		(0.9	%)		(0.9	%)
Effect of Non-operating Items		(5.7	%)		(1.7	%)		(0.3	%)
Tangible Operating Efficiency Ratio (TE)(Non-GAAP) (2) (3)		68.5	%		65.7	%		73.5	%

⁽¹⁾ Certain balances and amounts in prior periods have been restated for the effect of the adoption of ASU No. 2014-01 in the current period.

⁽²⁾  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%.

⁽³⁾  Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

Table 9 - IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ^{(1) (2)}

(dollars in thousands)

	For The Quarter Ended
	March 31, 2015									December 31, 2014									March 31, 2014
	Dollar Amount									Dollar Amount									Dollar Amount
	Pre-tax			After-tax (3)			Per share			Pre-tax			After-tax (3)			Per share			Pre-tax			After-tax (2)			Per share
Net Income (Loss) (GAAP)	$	36,205		$	25,126		$	0.75		$	46,122		$	35,936		$	1.07		$	30,752		$	22,336		$	0.75
Non-interest income adjustments
Gain on sale of investments and other non-interest income		(389	)		(252	)		(0.01	)		(374	)		(243	)		(0.01	)		(1,791	)		(1,692	)		(0.06	)
Non-interest expense adjustments
Merger-related expenses		9,296			6,139			0.18			1,955			1,496			0.04			967			629			0.02
Severance expenses		41			27			0.00			139			91			0.00			119			78			0.00
(Gain) Loss on sale of long-lived assets, net of impairment		579			376			0.01			1,078			701			0.02			541			352			0.01
Other non-operating non-interest expense		450			292			0.01			2			1			(0.00	)		179			116			0.00
Total non-interest expense adjustments		10,366			6,834			0.21			3,174			2,289			0.07			1,806			1,175			0.03
Income tax benefits		—			—			—			—			(2,959	)		(0.09	)		—			—			—
Operating earnings (Non-GAAP)		46,182			31,708			0.95			48,922			35,023			1.05			30,767			21,819			0.73
Covered and acquired (reversal of) provision for loan losses		1,169			760			0.02			1,497			973			0.03			108			70			0.00
Other provision for loan losses		4,176			2,715			0.08			4,998			3,249			0.08			1,995			1,297			0.04
Pre-provision operating earnings (Non-GAAP)	$	51,527		$	35,183		$	1.05		$	55,417		$	39,245		$	1.17		$	32,870		$	23,186		$	0.78

⁽¹⁾ Certain balances and amounts in prior periods have been restated for the effect of the adoption of ASU No. 2014-01 in the current period.

⁽²⁾ Per share amounts may not appear to foot due to rounding.

⁽³⁾  After-tax amounts estimated based on a 35% marginal tax rate.

EX-99.2

MAKING THE MOST OF IT

1Q15 Earnings Conference Call

Supplemental Presentation

Exhibit 99.2

   April 22, 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 merger with Georgia Commerce Bancshares, Inc., IBERIABANK

Corporation has filed a Registration Statement on Form S-4 that contains a proxy statement/prospectus.

INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT/

PROSPECTUS REGARDING THE PROPOSED TRANSACTION BECAUSE SUCH DOCUMENTS WILL

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

statement/prospectus and other documents containing information about the pending transaction with Georgia

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

statement /prospectus and the SEC filing that is incorporated by reference in the proxy statement/prospectus 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 Georgia Commerce Bancshares, Inc., nor is it an offer to sell shares of IBERIABANK Corporation

common stock which may be issued in the proposed merger.  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 Securities Act of 1933, as amended.

•

Reported EPS of $0.75 (down $0.32 from 4Q14) and non-GAAP operating EPS of $0.95 (down $0.10 from 4Q14)

•

Tax

equivalent

net

interest

income

increased

$1.1

million,

or

1%

from

4Q14,

while

average

earning

assets

increased $312 million, or 2%

•

Completed

the

acquisitions

of

Florida

Bank

Group

and

Old

Florida

during

the

quarter.

Converted

Florida

Bank

Group

over

the

weekend

of

March

13th.

Anticipate

conversions

of

Old

Florida

Bank

and

New

Traditions

Bank

during 2Q15

•

Pending shareholder approval, anticipate closing of Georgia Commerce Bancshares, Inc. acquisition on May 31,

2015 and converting and integrating within the next 70 days

•

Legacy loan growth:

•

Legacy deposit growth:

•

Net

interest

margin

increased

one

basis

point

to

3.54%,

slightly

above

management’s

expectations

•

Significant operating influences:

•

Seasonality

•

Timing

•

Non-recurring expense

•

Energy-related provisions

Overview

Introductory Comments –

First Quarter 2015

$181

million

since

December

31,

2014

(+7%

annualized),

including

$69

million

of

commercial and $112 million of small business and consumer

Energy-related

loans

down

$61

million

or

7%

and

indirect

loans

down

$30

million

or

8%

Growth in the legacy loan portfolio was commercial 38%, small business 22%, consumer

25%, and mortgage 14%

$351 million since December 31, 2014 (+11% annualized)

$212 million increase in legacy non-interest bearing deposits (+27% annualized)

3

Overview

Energy Update

Our overall outlook on our energy portfolio is generally consistent with

views

expressed

at

our

February

27,

2015

Analyst-Investor

Day

•

What we are seeing now:

•

Access to the capital markets has

recently increased for many E&P

companies

•

Oil prices have increased

significantly

•

Total outstandings down $61 million or

6.7%

•

We are approximately 40% of the way

through spring redeterminations.  All

clients are within their borrowing

bases.

•

In the portfolio at quarter-end:

•

One $40,000 loan on non-

accrual; no others classified or

worse

•

Only one loan, with less than $4

million outstanding, was rated

Special Mention

4

Overview

Non-Performing Assets Trends

$ in millions

NPA determination based on regulatory guidance for Acquired portfolios 

1Q15 includes $14 million of bank-related properties reclassified to OREO

Energy loans

classified as non-

performing assets at

March 31, 2015

totaled only $40,000

Legacy includes

Increase due to

two legacy

credits (not

energy-related)

Prior Period NPAs

Acquired during 1Q15

Transfer from Covered 

Components of 1Q15 Non-Covered Acquired

5

6

Seasonal Influences

Quarterly Organic Loan Growth

•

The first quarter of each year tends to exhibit slower loan

growth than other quarters due to seasonal factors

•

1Q15 net organic loan growth of $181 million, or +7%

annualized growth; includes $61 million decline in energy

loans and $30 million decline in indirect auto loans

•

1Q15 organic growth consistent with historical seasonal

trends

•

Anticipated run-rate decline of indirect auto portfolio is

approximately $45 million per quarter

Excludes acquired deposits

Seasonal Influences

Deposit Growth

$ in millions

•

Increase of $2.1

billion, or 17%, in

1Q15

•

Deposits acquired

from Florida Bank

Group and Old

Florida acquisitions

equated to $1.8

billion

•

$669 million (+21%)

growth in total non-

interest bearing

deposits for 1Q15,

including $457

million of acquired

non-interest bearing

deposits

Total Deposit Growth

Very strong

transaction account

growth in 4Q12

7

Financial Results

Weekly Locked Mortgage Pipeline Trends

•

Seasonal rebound

commences at the

start of each year

through spring

months into early

summer

•

Increased

production due to a

combination of

favorable rate

environment and

improved recruiting

in key markets

•

Weekly locked

pipeline was $317

million at April 17,

2015, up 9% since

March 31, 2015

and over two times

the level at

December 31,

2014

8

9

Acquisitions

Update

•

HQ:

Tampa, Florida

•

Offices:

13 in Florida

•

Assets:

$571 million

•

Loans:

$319 million

•

Deposits:

$404 million

•

Collars:

$56.79 & $76.83

•

% Pro Forma IBKC: 3%

•

Announced: 10/3/14

•

Days to Fed Approval

Total Days

•

HQ:

Orlando, Florida

•

Offices:

14 in Florida

•

Assets:

$1.4 billion

•

Loans:

$1.1 billion

•

Deposits:

$1.2 billion

•

Collars:

$57.31 & $70.05

•

% Pro Forma IBKC:  7%

•

Announced: 10/27/14

•

Days to Fed Approval

Total Days

•

HQ:

Atlanta, Georgia

•

Offices:

9 in Georgia

•

Assets:

$1.0 billion

•

Loans:

$746 million

•

Deposits:

$858 million

•

Collars:

$58.69 & $71.73

•

% Pro Forma IBKC:  5%

•

Announced: 12/8/14

•

Days to Fed Approval

Total Days

Old Florida

Georgia Commerce

Florida Bank Group.

Unaudited Balance Sheet Information as of December 31, 2014

15

13

161

121

34

46

201

95

26

200

+ Days to Close

+ Days to Convert

+ Days to Close

+ Days to Convert

+ Days to Close

+ Days to Convert

133

79

Financial Results

Influences to 1Q15 EPS

•

Seasonal influences impact first quarter results and tend to significantly diminish over the

remainder of the year

•

Timing influences impact current results and should be recouped over next two years

•

The Company considers the non-recurring influences to be one-time in nature

•

Aggregate pre-tax impact equal to $9.0 million

•

Aggregate after-tax EPS impact equal to $0.18 per share

$ in Millions

Fewer Business Days

$2.2

FDIC Recovery

$1.5

Benefits Payment

$0.6

Payroll Taxes

$2.1

Service Charges

$0.9

Title Income

$0.9

Card Income

$0.8

Pre-Tax Impact

$6.9

$1.5

$0.6

EPS (After-Tax)

0.14

$

0.03

$

0.01

$

Seasonality

Timing

Non-Recurring

10

Financial Results

Non-Interest Income –

1Q15 Components

•

Operating non-

interest income

increased $1.8

million, or 4%, on

a linked quarter

basis

•

Non-operating

income of $0.4

million mainly

from gains on

sales of

investments

11

•

Mortgage non-interest income of $18.0 million

was $4.4 million higher than 4Q14 driven by:

•

$6.4 million higher market value

adjustment  (positive $5.2 million

recognized in 1Q15 versus  negative $1.2

million in 4Q14)

•

$1.7 million lower gains on lower sales

volume (-12%) and lower margins

•

$0.1 million lower servicing income.

Financial Results

Mortgage Income

12

•

Operating non-

interest expense

increased $6.8

million, or 6%, on

a linked-quarter

basis

•

Non-operating

expense of $10.4

million includes:

•

$9.3 million of

merger-related

expense

•

$0.6 million in

impairment of

long-lived

assets

•

$0.4 million of

professional

fees

Financial Results

Non-Interest Expense –

1Q15 Components

13

Seasonal Influences

Checking NSF Related Charges

Influenced by impact of

Teche acquisition completed

in May 2014

1Q15 results include one month operating results from Florida Bank Group acquisition

14

Seasonal Influences

Payroll Taxes

2Q14 results influenced by impact of Teche Holding Company acquisition completed in May 2014 and First Private Holdings, Inc. acquisition completed in June 2014

1Q15 results include one month operating results from Florida Bank Group acquisition

15

Seasonal Influences

Retirement Contributions

1Q15 results include one month operating results from Florida Bank Group acquisition

16

17

Capital

Preliminary Results and Anticipated Changes

•

1Q15 Capital ratios fully

reflect BASEL III

presentation

•

50% phase-out of trust

preferred securities is

reflected in updated

ratios

•

Change in risk-weighted

assets mainly driven by

change in risk-weighting

for commercial real-

estate, past due and

non-accrual loans and

addition of off-balance

sheet loan commitments

to risk-weighted asset

calculation

•

Net risk weighted assets increased approximately $509 million, or 4%, 

between calculations

BASEL III

Prior

Common Equity Tier 1 (CET1) ratio

9.79%

N/A

N/A

bps

N/A

Tier 1 Leverage

9.04%

9.42%

(38)

bps

N/A

Tier 1 Risk Based

10.19%

11.02%

(83)

bps

N/A

Total Risk Based

11.62%

12.09%

(47)

bps

N/A

BASEL III

Prior

Change

Common Equity Tier 1 (CET1) ratio

9.55%

N/A

N/A

bps

6.50%

Tier 1 Leverage

8.48%

8.54%

(6)

bps

5.00%

Tier 1 Risk Based

9.55%

9.99%

(44)

bps

8.00%

Total Risk Based

10.59%

11.07%

(48)

bps

10.00%

IBERIABANK Corporation Capital Ratios

Well

Capitalized

Minimum

IBERIABANK and Subsidiaries Capital Ratios

Change

March 31, 2015

March 31, 2015

Well

Capitalized

Minimum

Appendix

18

19

Appendix

Performance Metrics –

Quarterly Trends

3/31/2014

6/30/2014

9/30/2014

12/31/2014

3/31/2015

Net Income ($ in thousands)

22,336

$     

16,217

$     

30,893

$     

35,936

$     

25,126

$     

-30%

Per Share Data:

Fully Diluted Earnings

0.75

$         

0.53

$         

0.92

$         

1.07

$         

0.75

$         

-31%

Operating Earnings (Non-GAAP)

0.73

0.89

1.04

1.05

0.95

-10%

Pre-provision Operating Earnings  (Non-GAAP)

0.78

0.99

1.15

1.17

1.05

-11%

Tangible Book Value

37.56

37.28

37.81

39.08

39.26

0%

Key Ratios:

Return on Average Assets

0.68%

0.46%

0.79%

0.91%

0.64%

(27)

bps

Return on Average Common Equity

5.82%

3.99%

6.79%

7.79%

5.40%

(239)

bps

Return on Average Tangible Common Equity (Non-GAAP)

8.35%

5.88%

10.10%

11.46%

7.93%

(353)

bps

Net Interest Margin (TE)

(1)

3.54%

3.49%

3.49%

3.53%

3.54%

1

bps

Tangible Operating Efficiency Ratio (TE)

(1)

(Non-GAAP)

73.5%

69.8%

65.1%

65.7%

68.5%

282

bps

Tangible Common Equity Ratio (Non-GAAP)

8.60%

8.43%

8.45%

8.59%

8.62%

3

bps

Tier 1 Leverage Ratio

(2)

9.61%

10.00%

9.21%

9.36%

9.04%

(32)

bps

Common Equity Tier 1 (CET1) Ratio

(2)

9.79%

Total Risk Based Capital Ratio

(2)

12.68%

12.40%

12.40%

12.30%

11.62%

(68)

bps

Net Charge-Offs to Average Loans

(3)

0.05%

0.04%

0.09%

0.06%

0.06%

0

bps

Non-performing Assets to Total Assets

(3)

0.49%

0.53%

0.46%

0.41%

0.55%

14

bps

(1)

Fully taxable equivalent basis.

(2)

March 31, 2015 Captial Ratios reflect full implementation of  Basel III capital requirements, excluding the impact of the

(3)

Excluding FDIC Covered Assets and Acquired Assets.

Linked Quarter

%/Basis Point

Change

For Quarter Ended:

•

Average earning

assets up $0.3

billion (+2%)

•

T/E net interest

income up $1

million (+1%)

•

Provision for loan

losses of $5 million:

•

Legacy net charge-

offs: $1.6 million

(annualized 0.06%

of average loans)

•

Covered and

acquired net

charge-offs: $0.2

million (annualized

0.04% of average

loans)

•

Legacy provision

for loan losses:

$4.2 million

Old Florida Bancshares, Inc. acquisition.  Prior periods have not been restated to reflect BASEL III implementation.

20

Appendix

Performance Metrics –

Yields and Costs

12/31/2014

3/31/2015

Investment Securities

2.24%

2.22%

(2)

bps

Covered Loans, net of loss share receivable

3.57%

3.82%

25

bps

Legacy Loans, net

3.94%

3.90%

(4)

bps

Non-Covered Acquired Loans, net

6.94%

6.91%

(3)

bps

Loans & Loss Share Receivable

4.32%

4.33%

1

bps

Mortgage Loans Held For Sale

3.95%

4.55%

60

bps

Other Earning Assets

0.80%

0.81%

1

bps

  Total Earning Assets

3.88%

3.90%

2

bps

Interest-bearing Deposits

0.41%

0.40%

(1)

bps

Short-Term Borrowings

0.19%

0.19%

(0)

bps

Long-Term Borrowings

2.73%

2.91%

18

bps

  Total Interest-bearing Liabilities

0.48%

0.49%

1

bps

Net Interest Spread

3.41%

3.41%

0

bps

Net Interest Margin

3.53%

3.54%

1

bps

(1)

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

For Quarter Ended:

Linked Quarter

Basis Point

Change

Appendix

Non-GAAP Cash Margin

•

Adjustments represent accounting

impacts of purchase discounts on

acquired loans and related accretion

as well as the indemnification asset

and related amortization on the

covered portfolio

Balances, as

Reported

Adjustments

As Adjusted

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%

1Q15

Average Balance

14,456,891

67,056

14,523,947

Income

125,804

(8,969)

116,835

Rate

3.54%

-0.30%

3.28%

$ in millions

21

22

Appendix

Non-Interest Income Trends

•

Mortgage income increased $4.4 million, or +32%

•

Title income decreased $0.9 million, or -16%

•

Service charges decreased $0.9 million, or -9% due to

seasonal influences

•

Credit card fee income decreased $0.8 million, or -24%

1Q15 compared to 4Q14:

1Q15 includes one-month of Florida Bank Group results

Non-interest Income ($000s)

1Q14

2Q14

3Q14

4Q14

1Q15

$ Change

%

Change

Service Charges on Deposit Accounts

7,012

$   

8,203

$   

10,205

$ 

10,153

$ 

9,262

$   

(891)

$     

-9%

ATM / Debit Card Fee Income

2,467

2,937

3,287

3,331

3,275

(56)

-2%

BOLI Proceeds and CSV Income

934

934

1,047

1,050

1,092

42

4%

Mortgage Income

10,133

13,755

14,263

13,646

18,023

4,377

32%

Title Revenue

4,167

5,262

5,577

5,486

4,629

(857)

-16%

Broker Commissions

4,048

5,479

5,297

3,960

4,162

202

5%

Other Noninterest Income

5,129

7,182

6,854

9,071

8,067

(1,005)

-11%

Noninterest income excluding non-operating income

33,890

43,752

46,530

46,697

48,510

1,812

4%

Gain (Loss) on Sale of Investments, Net

19

8

582

164

389

225

138%

Other Non-operating income

1,772

1

-

211

-

(211)

-100%

Total Non-interest Income

35,681

$ 

43,761

$ 

47,112

$ 

47,072

$ 

48,899

$ 

1,827

$   

4%

1Q15 vs. 4Q14

Originations up 8%

Sale volume decreased 5%

Refinancings declined from 36% to 24% of

production

Margins 10% lower in 1Q15

Pipeline of $278 million at quarter-end,

double the pipeline level at December 31,

2014.  At April 17, 2015, the locked

pipeline was $317 million, or +9%, over

March 31, 2015

23

Appendix

Non-Interest Expense Trends

•

Non-interest expenses excluding non-operating items up

$6.8 million, or 6%, as compared to 4Q14

•

Total expenses up $14.0 million, or 12%, in 1Q15

•

Severance expense down $0.1 million

•

Impairment of long-lived assets down $0.5 million

•

Merger-related expense increased $7.3 million, related

primarily to Florida Bank Group and Old Florida

transactions

•

Tangible Operating Efficiency Ratio of 68.5%, up from

65.7% in 4Q14

Linked quarter changes in operating expense:

1Q15 includes one-month of Florida Bank Group results

2.1

0.9

(0.9)

(0.7)

$0.7 mil

Non-interest Expense ($000s)

1Q14

2Q14

3Q14

4Q14

1Q15

$ Change

% Change

Mortgage Commissions

2,215

$       

3,481

$       

3,912

$       

4,045

$       

4,085

$       

40

$          

1%

Hospitalization Expense

3,944

3,661

4,611

4,606

5,181

575

12%

Other Salaries and Benefits

53,582

55,921

54,898

56,784

62,091

5,307

9%

Salaries and Employee Benefits

59,741

$    

63,063

$    

63,421

$    

65,435

$    

71,357

$    

5,922

$     

9%

Credit/Loan Related

3,560

3,093

4,569

2,483

4,183

1,700

68%

Occupancy and Equipment

13,775

13,918

14,580

14,526

16,055

1,529

11%

Amortization of Acquisition Intangibles

1,218

1,347

1,623

1,618

1,525

(93)

-6%

All Other Non-interest Expense

27,134

28,567

29,523

31,899

29,667

(2,232)

-7%

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

105,428

$  

109,988

$  

113,717

$  

115,961

$  

122,787

$  

6,826

$     

6%

Severance

119

5,466

1,226

139

41

(98)

-71%

Occupancy and Branch Closure Costs

17

14

-

-

-

-

100%

Storm-related expenses

184

4

1

2

20

18

760%

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

541

1,241

4,213

1,078

579

(499)

-46%

Provision for FDIC clawback liability

-

-

(797)

-

-

-

0%

Termination of Debit Card Rewards Program

(22)

-

-

-

-

-

0%

Consulting and Professional

-

-

-

-

430

430

100%

Merger-Related Expenses

967

10,419

1,752

1,955

9,296

7,341

376%

Total Non-interest Expense

107,234

$  

127,132

$  

120,112

$  

119,135

$  

133,153

$  

14,017

$   

12%

Tangible Efficiency Ratio -

excl Nonop-Exp

73.5%

69.8%

65.1%

65.7%

68.5%

1Q15 vs. 4Q14

1.4

1.3

0.7

Total Florida Bank Group expenses

Payroll taxes

Occupancy and equipment expense

Provision for unfunded commitment

Marketing and business development

Benefits expense

Professional services

OREO costs, net

24

Appendix

Non-Operating Items (Non-GAAP)

Non-operating expenses equal to $10.4 million pre-tax, or $0.21 EPS after-tax:

•

1Q15 Merger related expense of $9.3 million pre-tax, or $0.18 EPS after-tax

•

Net impairment expense of $0.6 million pre-tax or $0.01, EPS after-tax

•

Other non-operating items expense of $0.5 million pre-tax, or $0.01 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)

30,752

$  

22,336

$  

0.75

$       

46,122

$  

35,936

$  

1.07

$       

36,205

$  

25,126

$  

0.75

$       

Non-interest income adjustments

Gain on sale of investments and other non-interest income

(1,791)

(1,692)

(0.06)

(374)

(243)

(0.01)

(389)

(252)

(0.01)

Non-interest expense adjustments

Merger-related expenses

967

629

0.02

1,955

1,496

0.04

9,296

6,139

0.18

Severance expenses

119

78

0.00

139

91

0.00

41

27

0.00

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

541

352

0.01

1,078

701

0.02

579

376

0.01

Other non-operating non-interest expense

179

116

0.00

2

1

(0.00)

450

292

0.01

Total non-interest expense adjustments

1,806

1,175

0.03

3,174

2,289

0.07

10,366

6,834

0.21

Income tax benefits

-

-

-

-

(2,959)

(0.09)

-

-

-

Operating earnings (Non-GAAP)

(3)

30,767

21,819

0.73

48,922

35,023

1.05

46,182

31,708

0.95

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

108

70

0.00

1,497

973

0.03

1,169

760

0.02

Other (reversal of) provision for loan losses

1,995

1,297

0.04

4,998

3,249

0.08

4,176

2,715

0.08

Pre-provision operating earnings (Non-GAAP)

(3)

32,870

$  

23,186

$  

0.78

$       

55,417

$  

39,245

$  

1.17

$       

51,527

$  

35,183

$  

1.05

$       

(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

March 31, 2014

December 31, 2014

March 31, 2015

Dollar Amount

Dollar Amount

Dollar Amount

25

Appendix

Market Highlights For 1Q15

•

Competitive pressure remains strong for high quality commercial and

business banking clients in terms of both pricing and structure

•

Birmingham, Houston, New Orleans, Memphis and Baton Rouge

showed strong commercial loan originations

•

Total commitments originated during 1Q15 of $960 million with 37%

fixed rate and 63% floating rate

•

Commercial loans originated and funded in 1Q15 totaled $405 million

with a mix of 20% fixed and 80% floating ($584 million in commercial

loan commitments during the quarter)

•

Strong commercial pipeline in excess of $800 million at quarter-end

•

Legacy period-end core deposit increase of $338 million, with non-

interest bearing deposits up $212 million

26

Overview

Small Business and Retail –

1Q15 Progress

•

Small Business legacy loan growth of $39 million, or +5%, on a linked-quarter basis

•

Consumer Direct & Mortgage legacy loan growth of $105 million, or +5%, on a linked

quarter basis

•

Credit Card legacy loan growth of ($0.6 million), or -1%, on a linked quarter basis

•

Expected seasonal decline. Experienced a similar decline during 1Q14

•

Checking account growth:

•

Small Business checking accounts increased 10% year-over-year and an

annualized 11% on a linked quarter basis

•

Consumer checking accounts decreased 3% year-over-year but increased an

annualized 1% on a linked quarter basis, primarily due to the expected attrition

from the Teche Holding Company portfolio that we converted last year

•

Continued

focus

on

productivity

and

efficiency

of

the

delivery

network

–

opened

one

branch in 1Q15, did not close any branches in 1Q15, converted 12

branches and

consolidated one branch into an existing IBKC branch related to the Florida Bank Group

acquisition and 15 branches related to the Old Florida acquisition.

•

Acceptance and usage of digital delivery continues to increase among our client base:

•

Released Online Appointment Setting

27

Appendix

Loan Growth

$ in millions

1st Quarter 2015:

•

Since YE 2009:

•

•

$181 million legacy

loan growth, or

+2% (+7%

annualized)

$5.7 billion legacy

loan growth, or

+139% (+27%

annualized)

The FDIC

covered loan

portfolio declined

85%, or $1.4

billion (16%

annualized rate)

28

Appendix

Loan Growth and Originations 1Q15 –Top Markets

$ in millions

Loan commitments and originations include renewals

$ in millions

•

$181 million in legacy loan growth for 1Q15

•

Top 5 markets represent 88% of legacy growth

•

$1.0 billion in total funded and unfunded

loan commitments

Appendix

Loan And Deposit Mix

Deposits at March 31, 2015

$14.7 Billion

Loans at March 31, 2015

$12.9 Billion

29

Appendix

Non-Interest Bearing Deposits

% of Total

Deposits

Non-interest-bearing deposits at period-end

$ in billions

30

•

Houston

•

Lafayette

•

Sarasota

•

Naples

•

NE Arkansas

•

$669 million of

incremental non-

interest-bearing

deposit growth, or

+21%, in 1Q15

•

$457 million increase

related to acquired

deposits from Florida

Bank Group and Old

Florida

•

Top 1Q15 legacy

non-interest-bearing

deposit growth

markets include:

Appendix

Deposits Costs

•

Our deposit

costs declined

greater than

peers

•

A portion of the

lower costs were

due to improved

mix of deposits

•

Non-interest-

bearing deposits

grew from 11%

of total deposits

in 2010 to 26%

of total deposits

in 1Q15

31

32

Appendix

Legacy Portfolio

Asset Quality Summary

(Excludes FDIC covered assets and all acquired loans)

•

NPAs equated to

0.55% of total assets,

up 14 bps compared to

4Q14.  Includes $14

million of bank-related

properties

•

$91 million in classified

loans (up $12 million

from 4Q14)

•

Legacy net charge-offs

of $1.6 million, or an

annualized rate of

0.06% of average

loans

($ thousands)

3/31/2014

12/31/2014

3/31/2015

Non-accrual Loans

32,983

$      

34,970

$      

60,064

$      

82%

72%

OREO

26,204

21,243

21,654

-17%

2%

Accruing Loans 90+ Days Past Due

269

754

239

-11%

-68%

Non-performing Assets

59,456

56,967

81,957

38%

44%

Note: NPAs excluding Former Bank Properties

50,453

45,411

68,353

35%

51%

Past Due Loans (excluding non-accrual loans)

11,453

30,321

17,845

56%

-41%

Classified Loans

64,476

78,890

91,248

42%

16%

Non-performing Assets/Assets

0.49%

0.41%

0.55%

6

bps

14

bps

NPAs/(Loans + OREO)

0.70%

0.59%

0.83%

13

bps

24

bps

Classified Assets/Total Assets

0.53%

0.57%

0.61%

8

bps

4

bps

Past Dues Loans/Loans

0.14%

0.31%

0.18%

4

bps

(13)

bps

Provision For Loan Losses

1,995

$        

4,998

$        

4,176

$        

109%

-16%

Net Charge-Offs/(Recoveries)

1,014

1,538

1,578

56%

3%

Provision Less Net Charge-Offs

981

$            

3,460

$        

2,598

$        

165%

-25%

Net Charge-Offs/Average Loans

0.05%

0.06%

0.06%

1

bps

0

bps

Allowance For Loan Losses/Loans

0.81%

0.79%

0.80%

(1)

bps

1

bps

Allowance For Credit Losses/Loans

0.94%

0.91%

0.93%

(1)

bps

2

bps

For Quarter Ended:

% or Basis Point Change

Year/Year

Qtr/Qtr

33

Appendix

Asset Quality Portfolio Trends

     ($thousands)

Non-accruals

229,962

$        

169,686

$        

195,371

$   

-15%

15%

OREO & Foreclosed

93,165

53,947

53,194

-43%

-1%

90+ Days Past Due

981

1,708

5,642

475%

230%

  Non-performing Assets

324,108

$        

225,341

$        

254,207

$   

-22%

13%

NPAs/Assets

2.39%

1.43%

1.41%

(98)

bps

(2)

bps

NPAs/(Loans + OREO)

3.33%

1.96%

1.97%

(136)

bps

1

bps

LLR/Loans

1.40%

1.14%

1.00%

(40)

bps

(14)

bps

ACL/Loans

1.52%

1.24%

1.10%

(42)

bps

(14)

bps

Net Charge-Offs/Loans

0.03%

0.06%

0.06%

3

bps

(0)

bps

Past Dues:

30-89 Days Past Due

43,905

$         

51,141

$         

32,835

$     

-25%

-36%

90+ days Past Due

981

1,708

5,642

475%

230%

Total 30+ Past Dues

44,886

$         

52,849

$         

38,477

$     

-14%

-27%

% Loans

0.47%

0.46%

0.30%

(17)

bps

(16)

bps

Total Portfolio

% or Basis Point Change

1Q14

4Q14

1Q15

Year/Year

Qtr/Qtr

Appendix

Capital Markets and Wealth Management

•

ICP revenues +6%

compared to 4Q14

•

IWA revenues +5%

compared to 4Q14

•

IFS revenues +4%

compared to 4Q14

•

IWA assets under

management

increased $75 million

(+6%) to $1.4 billion

on March 31, 2015

34

35

Appendix

Expected Quarterly Re-pricing Schedule

$ in millions

Note:  Amounts exclude re-pricing of assets and liabilities from prior quarters

Excludes FDIC loans and receivable, non-accrual loans and market value adjustments

2Q15

3Q15

4Q15

1Q16

2Q16

Cash Equivalents

Balance

763.5

$      

-

$         

-

$         

-

$         

-

$         

Rate

0.52%

0.00%

0.00%

0.00%

0.00%

Investments

Balance

159.9

$      

76.2

$       

76.1

$       

58.9

$       

63.1

$       

Rate

1.70%

3.05%

3.14%

2.96%

2.97%

Fixed Rate Loans

Balance

472.0

$      

413.9

$      

379.8

$      

353.3

$      

351.2

$      

Rate

5.12%

4.99%

4.97%

4.94%

4.90%

Variable Rate Loans

Balance

5,847.9

$   

98.0

$       

61.4

$       

48.2

$       

37.7

$       

Rate

3.30%

3.18%

3.58%

3.49%

3.95%

Time Deposits

Balance

731.9

$      

400.9

$      

328.3

$      

259.2

$      

189.7

$      

Rate

0.49%

0.74%

0.75%

0.89%

1.00%

Repos/ST Debt

Balance

544.1

$      

49.3

$       

10.0

$       

-

$         

-

$         

Rate

0.19%

0.23%

0.29%

0.00%

0.00%

Borrowed Funds

Balance

127.0

$      

3.4

$         

1.9

$         

1.9

$         

12.0

$       

Rate

3.27%

4.30%

4.40%

4.40%

4.11%

36

Appendix

Interest Rate Risk Simulation

Source: Bancware model, as of March 31, 2015

* Assumes instantaneous and parallel shift in interest rates based on static balance sheet

•

Asset sensitive from an interest rate risk position

•

The degree of asset sensitivity is a function of the reaction of

competitors to changes in deposit pricing

•

Forward curve has a positive impact over 12 months

Base

Blue

Forward

Change In:

-200 bp*

-100 bp*

Case

+100 bp*

+200 bp*

Chip

Curve

Net Interest

Income

-3.6%

-2.1%

0.0%

4.8%

9.5%

1.7%

1.0%

Economic

Value of

Equity

-5.3%

-9.8%

0.0%

12.9%

23.3%

-0.3%

-0.2%

Georgia Commerce

Bancshares, Inc.

•

Announced December 8, 2014

•

New market acquisition of a Georgia-based commercial

bank headquartered in Atlanta, Georgia

•

Adds

nine

branches

in

Georgia

–

all

offices

are

in

the

Atlanta, MSA

As of December 31, 2014:

•

Total Loans:

$746 million

•

Total Assets:

$1,020 million

•

Total Deposits:

$858 million

•

Total Equity: 

$104 million common stock

•

Tax-free, stock-for-stock exchange

•

Fixed exchange ratio of 0.6134 share of IBKC common

stock for each Georgia Commerce Bancshares, Inc. share

within collars and floating exchange ratios outside of

collars

(1)

$189

million

for

total

equity

(2)

outstanding based on IBKC’s

closing price of $65.21 on December 5, 2014

$40.00 per Georgia Commerce common share

outstanding

(2)

Estimated $5 million in cash liquidation value of all options

outstanding

(3)

Approximately 1.6% accretive to EPS in 2016 and 5%

accretive in 2017

TBVS dilution of approximately 1.8% at consummation

TBVS breakeven in approximately three and one-half years

IRR in excess of 20%

Equity

(2)

Including Options

(3)

•

•

(1)

The agreement provides for a fixed exchange ratio with pricing collars that fix the value received by Georgia

Commerce’s shareholders if the weighted average trading price of IBERIABANK Corporation’s common stock were

to decline below $58.69 per share, or exceed $71.73 per share, over a specified period.

(2)

Includes exercise of outstanding warrants and no exercise of stock options currently outstanding.

(3)

Assumes all stock options outstanding are cashed out at consummation.

37

Appendix

181%

196%

186%

202%

Shareholders’

Aggregate Value

Price / Total Book:

Price / Tangible Book:

•

•

•

•

•

•

•