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 27, 2017

IBERIABANK CORPORATION

(Exact name of Registrant as Specified in Charter)

Louisiana	001-37532	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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Yes  ¨    No  x

Item 2.02 Results of Operations and Financial Condition

Item 7.01 Regulation FD Disclosure

On April 27, 2017, the Registrant announced its results of operations for the three months ended March 31, 2017. 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 27, 2017, 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 28, 2017	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 27, 2017, issued by the Registrant.
99.2	Supplemental Materials to conference call.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

April 27, 2017

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 130-year-old IBERIABANK (www.iberiabank.com), reported financial results for the quarter ended March 31, 2017. For the quarter, the Company reported income available to common shareholders of $46.9 million, or $1.00 fully diluted earnings per common share (“EPS”). On a non-GAAP basis, EPS excluding non-core revenues and non-core expenses ("Core EPS") in the first quarter of 2017 was $1.02 per common share (refer to press release supplemental tables for a reconciliation of GAAP to non-GAAP metrics), which exceeded consensus analyst expectations.

Daryl G. Byrd, President and Chief Executive Officer, commented, “Many events transpired this quarter as we expected and as we communicated to our investors last quarter. First, asset quality statistics associated with our energy-related loans continued to show significant improvements this quarter, and energy-related loans grew slightly during the first quarter. Second, we are well-positioned for rising short-term interest rates, and the Federal Reserve's short-term rate increases in December 2016 and March 2017 resulted in a rebound in our margin and significant improvement in net interest income this quarter. We expect these benefits to continue into future quarters as well. Third, we anticipated our loan growth would slow during the first quarter, due in part to typical seasonal trends, and we expected a portion of the massive inflow of deposits that we experienced in the final quarter of 2016 would begin to flow out during the first quarter of 2017. While some deposit outflow occurred as expected, we maintained a considerable amount of excess liquidity throughout the quarter. Finally, in December 2016, we issued and sold common equity with the expectation we would find an excellent investment opportunity in which we could deploy that capital. With our recently signed agreement to acquire Sabadell United Bank, we now have an excellent opportunity in which to deploy that capital, as well as capital raised in March 2017 when we issued and sold additional common shares. We are very excited to partner with the team at Sabadell United and double the size of our Florida franchise."

Byrd continued, "Our financial performance in the first quarter of 2017 has started off well this year. During the first quarter, we experienced favorable average earning asset growth and a tremendous improvement in the net interest margin. We achieved our strongest first quarter EPS in nine years, and we achieved record first quarter core EPS. Those results were achieved despite the 11-cent negative EPS carrying cost in this quarter associated with the two common stock sales. Our core return on average assets was 0.96% in the first quarter, an improvement of six basis points compared to the same quarter last year, and despite the traditional seasonal slowness in our fee income businesses. We are still carrying a significant amount of capital and liquidity, which once deployed, should further enhance our financial performance."

Highlights for the first quarter of 2017 and at March 31, 2017:

• The Company remains very asset sensitive from an interest rate risk position. Primarily as a result of recent increases in short-term interest rates combined with a two basis point increase in total deposit costs during the first quarter of 2017 resulted in improvements on a linked quarter basis in the Company's reported and cash net interest margins of 15 and 11

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basis points, respectively. The yield on average earning assets increased 16 basis points and the cost of total interest bearing liabilities increased two basis points.

• Primarily as a result of the improvement in the net interest margin and a 4% increase in average earning assets, tax equivalent net interest income increased $11.3 million, or 7%, on a linked quarter basis.

• Non-interest income declined $5.9 million, or 11%, on a linked quarter basis, primarily as a result of seasonal declines in the Company's fee income businesses.

• Energy-related loans ("energy loans") increased slightly and equated to 3.7% of total loans at March 31, 2017, unchanged from year-end 2016. Classified energy loans and non-performing assets each decreased 23% during the first quarter of 2017.

• On February 28, 2017, the Company announced an agreement to acquire Sabadell United Bank, headquartered in Miami, Florida. In association with the pending acquisition, on March 7, 2017, the Company issued and sold approximately 6.1 million shares of common stock at $83.00 per common share, resulting in net proceeds of $485 million.

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Table A - Summary Financial Results
(Dollars in thousands, except per share data)
	For the Three Months Ended
	3/31/2017			12/31/2016			% Change		3/31/2016			% Change
GAAP BASIS:
Income available to common shareholders	$	46,874		$	44,173		6.1		$	40,193		16.6
Earnings per common share - diluted	1.00			1.04			(3.8	)	0.97			3.1
Average loans, net of unearned income	$	15,045,755		$	14,912,350		0.9		$	14,354,410		4.8
Average total deposits	17,511,324			16,893,643			3.7		15,945,069			9.8
Net interest margin (TE) (1)	3.53		%	3.38		%			3.68		%
Total revenues	$	220,164		$	214,903		2.4		$	217,248		1.3
Total non-interest expense	141,018			151,570			(7.0	)	137,452			2.6
Efficiency ratio	64.1		%	70.5		%			63.3		%
Return on average assets	0.94			0.85					0.87
Return on average common equity	6.41			6.70					6.59
NON-GAAP BASIS (2):
Core revenues	$	220,163		$	214,898		2.4		$	217,052		1.4
Core non-interest expense	139,437			133,562			4.4		134,860			3.4
Core earnings per common share - diluted	1.02			1.16			(12.1	)	1.01			1.0
Core tangible efficiency ratio (TE) (1) (4)	61.6		%	60.3		%			60.3		%
Core return on average assets	0.96			0.94					0.90
Core return on average tangible common equity (4)	8.99			10.75					10.26
Net interest margin (TE) - cash basis (1) (3)	3.30			3.19					3.51
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.
(2) See Table 10 and Table 11 for GAAP to Non-GAAP reconciliations.
(3) See Table 9 for adjustments related to purchase discounts on acquired loans and related accretion and the impact of the FDIC indemnification asset.
(4) Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

Operating Results

On a linked quarter basis, average loan volume (including the FDIC loss share receivable) increased $113 million, or 1%, and the associated tax-equivalent yield increased 23 basis points. Over that period, average legacy loans increased $279 million, or 2%, with an increase in yield of 15 basis points, and average acquired loans (including the FDIC loss share receivable) decreased $166 million, or 7%, and the yield increased 82 basis points. All other average earning assets, including investment securities, mortgage loans held for sale, and interest-bearing deposits in other institutions, increased a net of $624 million, or 14%.

Primarily as a result of rising short-term interest rates and lower levels of balance sheet liquidity, the Company's reported and cash net interest margins increased 15 and 11 basis points, respectively, on a linked quarter basis.

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On a linked quarter basis, average earning assets increased $737 million, or 4%, and the average earning asset yield increased 16 basis points. Average interest-bearing liabilities increased $271 million, or 2%, and the cost of interest-bearing liabilities increased two basis points. On a linked quarter basis, tax-equivalent net interest income increased$11.3 million, or 7%.

The Company’s provision for loan losses increased $1.0 million, or 19%, on a linked quarter basis to $6.2 million. The provision for loan losses covered net charge-offs in the first quarter of 2017 by 102% compared to 68% in the fourth quarter of 2016.

In the first quarter of 2017, non-interest income on a GAAP and non-core basis decreased $5.9 million, or 11%, compared to the fourth quarter of 2016. The primary changes in non-interest income on a linked quarter basis included:

• Decreased mortgage income of $2.0 million, or 12%;

• Decreased capital markets and brokerage commission of $1.3 million, or 32%;

• Decreased gains on the sale of SBA loans of $1.3 million;

• Decreased title revenues of $0.6 million, or 11%; and

• Decreased client derivative income of $0.2 million.

In the first quarter of 2017, the Company originated $384 million in residential mortgage loans, down $154 million, or 29%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 21% of mortgage loan applications in the first quarter of 2017, compared to 30% on a linked quarter basis.The Company sold $427 million in mortgage loans during the first quarter of 2017, down $156 million, or 27%, on a linked quarter basis. Loans held for sale decreased from $157 million at December 31, 2016, to $122 million at March 31, 2017. The mortgage origination locked pipeline was $240 million at March 31, 2017, up $74 million, or 46%, between quarter-ends, and was down 30% compared to one year ago. At April 24, 2017, the locked mortgage pipeline was $266 million, up 27% compared to March 31, 2017.

Non-interest expense decreased $10.6 million, or 7%, on a linked quarter basis. The decrease in non-interest expense was significantly influenced by the $17.8 million loss on the early termination of FDIC loss share agreements in the fourth quarter of 2016 and $1.4 million net impairment of long-lived assets in the first quarter of 2017. Excluding those non-core expenses, core non-interest expense increased $5.9 million, or 4%, and was comprised of the following items on a linked-quarter basis:

• Increased salary and benefits cost of $1.1 million, or 1%, which included:

◦ Increased payroll tax expense of $2.2 million;

◦ Increased health care costs of $2.0 million;

◦ Increased compensation expense of $0.8 million; partially offset by

◦ Decreased mortgage commission expenses of $1.9 million; and

◦ Decreased phantom stock incentives expense of $1.6 million; partially offset by

• Increased provision for unfunded commitments of $1.2 million;

• Increased marketing expense of $0.9 million;

• Increased FDIC insurance premium expense of $0.7 million;

• Increased legal and professional expense of $0.5 million; and

• Increased occupancy and equipment expense of $0.5 million.

On a linked quarter basis, the Company's revenues and non-GAAP core revenues each increased $5.3 million, or 2%. Over the same period, GAAP expenses decreased $10.6 million, or 7%, and non-GAAP core expenses increased $5.9 million, or 4%. The efficiency ratio decreased from 70.5% to 64.1%, while the non-GAAP core tangible efficiency ratio increased from 60.3% to 61.6% on a linked quarter basis. The Company continues to focus on expense containment and revenue enhancement strategies intended to further improve its core tangible efficiency ratio.

Due to a recent change in accounting principle, the effective tax rate for the first quarter of 2017 was 30.9% and was favorably impacted by a $1.8 million decrease in income tax expense associated with restricted stock vesting during the quarter. Absent any future exercises or vesting, the Company expects the effective tax rate in the remaining three quarters of 2017 to be approximately 33.5%. Vesting and exercise of share-based compensation is expected to have an impact on tax expense in the first quarter of future years as well.

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Table B - Summary Financial Condition Results
(Dollars in thousands, except per share data)
		As of and For the Three Months Ended
		3/31/2017			12/31/2016			% Change		3/31/2016			% Change
PERIOD-END BALANCES:
	Total loans, net of unearned income	$	15,132,202		$	15,064,971		0.4		$	14,451,244		4.7
	Legacy loans, net of unearned income	12,923,444			12,694,924			1.8		11,528,697			12.1
	Total deposits	17,312,265			17,408,283			(0.6	)	16,260,566			6.5
ASSET QUALITY RATIOS (LEGACY):
	Loans 30-89 days past due and still accruing as a percentage of total loans	0.25		%	0.20		%			0.37		%
	Loans 90 days or more past due and still accruing as a percentage of total loans	0.02			0.01					0.00
	Non-performing assets to total assets (1)	0.99			1.20					0.65
	Classified assets to total assets (2)	1.60			1.94					2.21
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (3) (4)	12.10		%	9.82		%			8.83		%
	Tier 1 leverage ratio (5)	12.91			10.86					9.41
	Total risk-based capital ratio (5)	16.92			14.13					12.21
PER COMMON SHARE DATA:
	Book value	$	65.25		$	62.68		4.1		$	59.93		8.9
	Tangible book value (Non-GAAP) (3) (4)	50.46			45.80			10.2		41.38			21.9
	Closing stock price	79.10			83.75			(5.6	)	51.27			54.3
	Cash dividends	0.36			0.36			—		0.34			5.9
(1)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.
(2)	Classified assets include commercial loans rated substandard or worse and non-performing mortgage and consumer loans, and were $316 million, $373 million and $378 million at March 31, 2017, December 31, 2016, and March 31, 2016, respectively.
(3)	See Table 10 and Table 11 for GAAP to Non-GAAP reconciliations.
(4)	Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.
(5)	Regulatory capital ratios as of March 31, 2017 are preliminary.

Loans

Total loans increased $67 million, or less than 1%, between December 31, 2016, and March 31, 2017. Over that period, acquired loans decreased $161 million, or 7%, and legacy loans increased $229 million, or 2% (7% annualized rate), including an increase in total energy loans of $2 million, or less than 1%, and a decline in indirect automobile loans of $21 million, or 16%. During the first quarter of 2017, legacy commercial loans increased $204 million, or 2%, legacy consumer loans decreased $23

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million, or 1%, and legacy mortgage loans increased $48 million, or 6%. Period-end loan growth during the first quarter of 2017 was strongest in the Atlanta, Tampa, Mobile, Orlando, and southeast Florida markets. Funded loan origination and renewal mix in the first quarter of 2017 was 39% fixed rate and 61% floating rate, and total loans outstanding (excluding non-accruals) were 43% fixed and 57% floating. Commitments originated and/or renewed during the first quarter of 2017 were $1.3 billion (down 7% on a linked quarter basis). Loans originated and/or renewed during the first quarter of 2017 totaled $847 million (down 10% on a linked quarter basis). At March 31, 2017, the Company's probably-weighted commercial loan pipeline was approximately $600 million.

Table C - Period-End Loans
(Dollars in thousands)
	As of and For the Three Months Ended
							Linked Qtr Change						Year/Year Change				Mix
	3/31/2017		12/31/2016		3/31/2016		$		%		Annualized		$		%		3/31/2017		12/31/2016
Legacy loans:
Commercial	$	9,581,229	$	9,377,399	$	8,427,154	203,830		2.2		8.7	%	1,154,075		13.7		74.1	%	73.9	%
Residential mortgage	901,859		854,216		730,621		47,643		5.6		22.3	%	171,238		23.4		7.0	%	6.7	%
Consumer	2,440,356		2,463,309		2,370,922		(22,953	)	(0.9	)	(3.7	)%	69,434		2.9		18.9	%	19.4	%
Total legacy loans	12,923,444		12,694,924		11,528,697		228,520		1.8		7.2	%	1,394,747		12.1		100.0	%	100.0	%
Acquired loans:
Balance at beginning of period	2,370,047		2,511,129		3,136,908		(141,082	)	(5.6	)			(766,861	)	(24.4	)
Loans acquired during the period	—		—		—		—		—				—		—
Net paydown activity	(161,289)		(141,082)		(214,361)		(20,207	)	14.3				53,072		(24.8	)
Total acquired loans	2,208,758		2,370,047		2,922,547		(161,289	)	(6.8	)			(713,789	)	(24.4	)
Total loans	$	15,132,202	$	15,064,971	$	14,451,244	67,231		0.4				680,958		4.7

Energy loans outstanding totaled $564 million at March 31, 2017, up $2 million, or less than 1%, compared to year-end 2016, and equated to approximately 3.7% of total loans (unchanged compared to year-end 2016). Energy-related commitments totaled $1.0 billion at March 31, 2017, up $56 million, or 6%, compared to December 31, 2016. The increase in energy loans and commitments during the quarter was primarily due to increases at exploration and production ("E&P") and midstream companies. E&P companies accounted for 47% of energy loans outstanding and 53% of energy loan commitments, midstream companies accounted for 22% of energy loans and 23% of energy loan commitments, and service companies accounted for 31% of energy loans and 24% of energy loan commitments.

At March 31, 2017, $113 million in energy loans were on non-accrual status (down $37 million compared to December 31, 2016), and $2.3 million in energy loans (excluding non-accruing loans) were past due greater than 30 days at quarter-end. Classified energy loans decreased $55 million, or 23%, and criticized energy loans decreased $70 million, or 22%, between quarter-ends. At March 31, 2017, approximately 32% of energy loans were classified and 44% were criticized, compared to 42% and 57%, respectively, at December 31, 2016. To date, the Company has experienced $19 million in energy-related net charge-offs. Additional information

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regarding the Company’s energy loan and energy-related commitment exposure is provided in Table 7 of this press release and in the supplemental investor presentation.

At March 31, 2017, the Company’s indirect automobile lending business had approximately $110 million in loans outstanding, down $21 million, or 16%, compared to year-end 2016 (0.7% of total loans outstanding compared to 0.9% at December 31, 2016).

Deposits

Total deposits decreased $96 million, or 1%, between December 31, 2016 and March 31, 2017. Over that period, non-interest-bearing deposits increased $103 million, or 2%, and equated to 29% of total deposits at March 31, 2017. Money market accounts increased $153 million, or 2%, NOW accounts decreased $229 million, or 7%, time deposits decreased $122 million, or 6%, and savings deposits declined $1 million, or less than 1%. Deposit growth during the first quarter of 2017 was strongest in the New Orleans, southwest Louisiana, Mobile, Birmingham, and Little Rock markets.

Table D - Period-End Deposits
(Dollars in thousands)
							Linked Qtr Change						Year/Year Change				Mix
	3/31/2017		12/31/2016		3/31/2016		$		%		Annualized		$		%		3/31/2017		12/31/2016
Non-interest-bearing	$	5,031,583	$	4,928,878	$	4,484,024	102,705		2.1		8.3	%	547,559		12.2		29.1	%	28.3	%
NOW accounts	3,085,720		3,314,281		2,960,562		(228,561	)	(6.9	)	(27.6	)%	125,158		4.2		17.8	%	19.0	%
Money market accounts	6,372,855		6,219,532		5,964,029		153,323		2.5		9.9	%	408,826		6.9		36.8	%	35.7	%
Savings accounts	813,009		814,385		772,117		(1,376	)	(0.2	)	(0.7	)%	40,892		5.3		4.7	%	4.7	%
Time deposits	2,009,098		2,131,207		2,079,834		(122,109	)	(5.7	)	(22.9	)%	(70,736	)	(3.4	)	11.6	%	12.3	%
Total deposits	$	17,312,265	$	17,408,283	$	16,260,566	(96,018	)	(0.6	)	(2.2	)%	1,051,699		6.5		100.0	%	100.0	%

On an average balance and linked quarter basis, non-interest-bearing deposits increased $108 million, or 2%, and interest-bearing deposits increased $510 million, or 4%. The rate on average interest-bearing deposits in the first quarter of 2017 was 0.52%, up two basis points on a linked quarter basis. The increase in the cost of interest-bearing deposits was primarily the result of a less favorable change in the mix of deposits during the first quarter of 2017. Marginal deposit rates remained stable throughout the first quarter of 2017.

Other Assets And Funding

On an average balance and linked quarter basis, the investment portfolio increased $587 million, or 19%, in the first quarter of 2017, to $3.7 billion. On a period-end basis, the investment portfolio equated to $3.9 billion, or 18% of total assets at March 31, 2017, up $375 million, or 11%, compared to December 31, 2016. The investment portfolio had an effective duration of 3.8 years at March 31, 2017, unchanged compared to year-end 2016. The investment portfolio had a $32 million unrealized loss at March 31, 2017, an improvement from a $39 million unrealized loss at year-end 2016. The average yield on investment securities increased 15 basis points on a linked quarter basis to 2.24% in the first quarter of 2017. The Company holds in its investment portfolio primarily government agency securities. Municipal securities comprised 9% of total investments at March 31, 2017.

On a linked quarter basis, average short-term borrowings (including repurchase agreements) decreased $193 million, or 32%, and the cost of short-term borrowings decreased nine basis points. At March 31, 2017, short-term borrowings (including repurchase agreements) decreased $60 million, or 12%, compared to December 31, 2016. On a linked quarter basis, average long-term debt decreased $46 million, or 7%, and the cost of long-term debt increased seven basis points to 2.22%. The cost of average interest-bearing liabilities was 0.59% in the first quarter of 2017, up two basis points on a linked quarter basis.

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Asset Quality

Non-performing assets ("NPAs") decreased $31 million, or 13%, to $220 million at March 31, 2017. Acquired NPAs increased $4 million, while legacy NPAs, which include energy and non-energy loans, decreased $36 million, or 15%, and equated to 0.99% of total assets. Energy-related NPAs (which are included in legacy loans) decreased by $35 million, or 23%, and accounted for the decrease in the Company's total NPAs during the first quarter of 2017. At March 31, 2017, non-energy-related NPAs increased $3 million, or 3%, and equated to 0.49% of total assets, up slightly compared to 0.48% at year-end 2016.

Aggregate loans past due 30 to 89 days increased $7 million, or 25%, and equated to 0.24% of total loans at March 31, 2017, compared to 0.19% at year-end 2016.

Net charge-offs totaled $6.1 million in the first quarter of 2017, down $1.6 million, or 21%, compared to the fourth quarter of 2016. Annualized net charge-offs equated to 0.16% of average loans in the first quarter of 2017, a five basis point improvement on a linked quarter basis. Energy loans accounted for approximately 47% of the net charge-offs incurred during the first quarter of 2017.

Capital Position

At March 31, 2017, the Company reported a non-GAAP tangible common equity ratio of 12.10%, up 228 basis points compared to December 31, 2016, and the preliminary Tier 1 leverage ratio was 12.91%, up 205 basis points compared to December 31, 2016. The Company’s preliminary calculation of its total risk-based capital ratio at March 31, 2017, was 16.92%, up 279 basis points compared to December 31, 2016.

At March 31, 2017, book value per common share was $65.25, up $2.57 per share, or 4%, compared to year-end 2016. Tangible book value per common share was $50.46, up $4.66 per share, or 10%, compared to year-end 2016. Based on the closing stock price of the Company’s common stock of $79.35 per share on April 27, 2017, this price equated to 1.22 times March 31, 2017 book value per common share and 1.57 times March 31, 2017 tangible book value per common share.

Cash Dividends On Common Stock. On March 20, 2017, the Company declared a quarterly cash dividend of $0.36 per common share, a 6% increase compared to the same quarter in the prior year. This common dividend level equated to an annualized dividend rate of $1.44 per common share. Based on the Company's closing common stock price on April 27, 2017, the indicated dividend yield was 1.81% per common share. The payment of dividends on the common stock is at the discretion of the Board of Directors.

Common Stock Repurchase Program. On May 4, 2016, the Board of Directors of the Company authorized the repurchase of up to 950,000 shares of the Company's common stock. The Company did not repurchase common shares under the authorized program during the first quarter of 2017. The Company has approximately 747,000 shares of common stock remaining that may be purchased under the currently authorized program.

Series B Preferred Stock. On August 5, 2015, the Company sold 3.2 million depositary shares, each representing a 1/400th interest in a share of non-cumulative perpetual preferred stock. The Series B preferred stock has an initial coupon equal to 6.625% for a period of 10 years, and thereafter floats at a rate of LIBOR plus 426.2 basis points. The Company raised approximately $80 million in gross proceeds from the transaction. On January 4, 2017, the Company declared a semi-annual cash dividend of $0.8281 per depositary share that was paid on February 1, 2017.

Series C Preferred Stock. On May 9, 2016, the Company sold 2.3 million depositary shares, each representing a 1/400th interest in a share of non-cumulative perpetual preferred stock. The Series C preferred stock has an initial coupon equal to 6.60% for a period of 10 years, and thereafter floats at a rate of LIBOR plus 492 basis points. The Company raised approximately $57.5 million in gross proceeds from the transaction. On March 20, 2017, the Company declared a quarterly cash dividend of $0.4125 per depositary share that is payable on May 1, 2017.

Common Stock. On December 7, 2016, the Company issued and sold 3.6 million shares of common stock at a price of $81.50 per common share. After deducting underwriting discounts and commissions and other related expenses, net proceeds of the

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sale were approximately $279 million. On March 7, 2017, the Company issued and sold 6.1 million shares of common stock at a price of $83.00 per common share. After deducting underwriting discounts and commissions and other related expenses, net proceeds of the sale were approximately $485 million. The estimated dilutive impact of carrying the excess capital associated with these two common stock offerings was approximately $0.11 per common share during the first quarter of 2017, and will be approximately $0.06 per month on an ongoing basis until the capital is fully deployed.

IBERIABANK Corporation

IBERIABANK Corporation is a financial holding company with 300 combined offices, including 202 bank branch offices and two loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, and South Carolina, 24 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 64 locations in 10 states. The Company has eight locations with representatives of IBERIA Wealth Advisors in four 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 Series B Preferred Stock and Series C Preferred Stock trade on the NASDAQ Global Select Market under the symbols "IBKCP" and "IBKCO", respectively. The Company’s common stock market capitalization was approximately $4.0 billion, based on the NASDAQ Global Select Market closing stock price on April 27, 2017.

The following 13 investment firms currently provide equity research coverage on the Company:

• Bank of America Merrill Lynch

• FBR & Co.

• FIG Partners, LLC

• Hovde Group, LLC

• Jefferies & Co., Inc.

• JMP Securities LLC

• Keefe, Bruyette & Woods, Inc.

• Piper Jaffray & Co.

• Raymond James & Associates, Inc.

• Robert W. Baird & Company

• Sandler O’Neill + Partners, L.P.

• Stephens, Inc.

• SunTrust Robinson-Humphrey

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 Friday, April 28, 2017, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003. The confirmation code for the call is 3978156. A replay of the call will be available until midnight Central Time on May 5, 2017 by dialing 1-877-344-7529. The confirmation code for the replay is 10104130. 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 "Financial Information" and “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. Non-GAAP measures in this press release include, but are not limited to, descriptions such as core, tangible, and pre-tax pre-provision. 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

9

performance. Transactions that are typically excluded from non-GAAP performance measures include realized and unrealized gains/losses on former bank owned real estate, realized gains/losses on securities, income tax gains/losses, merger-related charges and recoveries, litigation charges and recoveries, and debt repayment penalties. 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 presented in the supplemental tables at the end of this release. Please refer to the supplemental tables for these reconciliations.

Caution About Forward-Looking Statements

This press release contains "forward-looking statements," which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. Due to various factors, actual results may differ materially from our forward-looking statements. Factors that could cause our actual results to differ materially from our forward-looking statements are described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Risk Factors” and “Regulation and Supervision” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC’s website, http://www.sec.gov, and the Company’s website, http://www.iberiabank.com. To the extent that statements in this press release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of 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.

 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.  Factors that could cause or contribute to such differences include, but are not limited to: the level of market volatility, our ability to execute our growth strategy, including the availability of future bank acquisition opportunities, our ability to execute on our revenue and efficiency improvement initiatives, unanticipated losses related to the completion and integration of mergers and acquisitions, refinements to purchase accounting adjustments for acquired businesses and assets and assumed liabilities in these transactions, adjustments of fair values of acquired assets and assumed liabilities and of deferred taxes in acquisitions, actual results deviating from the Company’s current estimates and assumptions of timing and amounts of cash flows, utilization of non-GAAP financial measures, credit risk of our customers, resolution of assets formerly subject to loss share agreements with the FDIC, effects of the on-going correction in residential real estate prices and  levels of home sales, our ability to satisfy capital and liquidity standards such as those imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act and those adopted by the Basel Committee on Banking Supervision and federal banking regulators, sufficiency of our allowance for loan losses, changes in interest rates, access to funding sources, reliance on the services of executive management, competition for loans, deposits and investment dollars, competition from competitors with greater financial resources than the Company, reputational risk and social factors, compliance with laws and regulations, increases in FDIC insurance assessments, geographic concentration of our markets, economic and business conditions in our markets or nationally, including the impact of volatility of oil and gas prices, rapid changes in the financial services industry, significant litigation, cyber-security risks including dependence on our operational, technological, and organizational systems and infrastructure and those of third party providers of those services, hurricanes and other adverse weather events, and valuation of intangible assets. All information is as of the date of this press release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

10

Table 1 - IBERIABANK CORPORATION
FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
		As of and For the Three Months Ended
INCOME DATA:		3/31/2017			12/31/2016			% Change		3/31/2016			% Change
	Net interest income	$	172,818		$	161,665		6.9		$	161,403		7.1
	Net interest income (TE) (1)	175,309			164,005			6.9		163,728			7.1
	Total revenues	220,164			214,903			2.4		217,248			1.3
	Provision for loan losses	6,154			5,169			19.1		14,905			(58.7	)
	Non-interest expense	141,018			151,570			(7.0	)	137,452			2.6
	Net income available to common shareholders	46,874			44,173			6.1		40,193			16.6
PER COMMON SHARE DATA:
	Earnings available to common shareholders - basic	$	1.01		$	1.05		(3.8	)	$	0.98		3.1
	Earnings available to common shareholders - diluted	1.00			1.04			(3.8	)	0.97			3.1
	Core earnings (Non-GAAP) (2)	1.02			1.16			(12.1	)	1.01			1.0
	Book value	65.25			62.68			4.1		59.93			8.9
	Tangible book value (Non-GAAP) (2) (3)	50.46			45.80			10.2		41.38			21.9
	Closing stock price	79.10			83.75			(5.6	)	51.27			54.3
	Cash dividends	0.36			0.36			—		0.34			5.9
KEY RATIOS AND OTHER DATA (6):
	Net interest margin (TE) (1)	3.53		%	3.38		%			3.68		%
	Efficiency ratio	64.1			70.5					63.3
	Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2) (3)	61.6			60.3					60.3
	Return on average assets	0.94			0.85					0.87
	Return on average common equity	6.41			6.70					6.59
	Core return on average tangible common equity (Non-GAAP) (2)(3)	8.99			10.75					10.26
	Effective tax rate	30.9			22.4					34.1
	Full-time equivalent employees	3,161			3,100					3,112
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (2) (3)	12.10		%	9.82		%			8.83		%
	Tangible common equity to risk-weighted assets (3)	14.48			11.62					10.14
	Tier 1 leverage ratio (4)	12.91			10.86					9.41
	Common equity Tier 1 (CET 1) (transitional) (4)	14.64			11.84					10.11
	Common equity Tier 1 (CET 1) (fully phased-in) (4)	14.60			11.77					10.02
	Tier 1 capital (transitional) (4)	15.38			12.59					10.56
	Total risk-based capital ratio (4)	16.92			14.13					12.21
	Common stock dividend payout ratio	39.0			36.4					34.9

11

	Classified assets to Tier 1 capital (7)	15.2		21.9		28.4
ASSET QUALITY RATIOS (LEGACY):
	Non-performing assets to total assets (5)	0.99	%	1.20	%	0.65	%
	Allowance for loan losses to loans	0.82		0.83		0.92
	Net charge-offs to average loans (annualized)	0.20		0.24		0.15
	Non-performing assets to total loans and OREO (5)	1.52		1.83		0.96
(1)	Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.
(2)	See Table 10 and Table 11 for GAAP to Non-GAAP reconciliations.
(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)	Regulatory capital ratios as of March 31, 2017 are preliminary.
(5)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.
(6)	All ratios are calculated on an annualized basis for the periods indicated.
(7)	Classified assets include commercial loans rated substandard or worse and non-performing mortgage and consumer loans and include acquired impaired loans accounted for under ASC 310-30.

12

Table 2 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Dollars in thousands, except per share data)
	For the Three Months Ended
							Linked Qtr Change													Year/Year Change
	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
Interest income	$	192,533		$	180,805		11,728		6.5		$	180,504		$	178,694		$	176,936		15,597		8.8
Interest expense	19,715			19,140			575		3.0		17,087			15,941			15,533			4,182		26.9
Net interest income	172,818			161,665			11,153		6.9		163,417			162,753			161,403			11,415		7.1
Provision for loan losses	6,154			5,169			985		19.1		12,484			11,866			14,905			(8,751	)	(58.7	)
Net interest income after provision for loan losses	166,664			156,496			10,168		6.5		150,933			150,887			146,498			20,166		13.8
Mortgage income	14,115			16,115			(2,000	)	(12.4	)	21,807			25,991			19,940			(5,825	)	(29.2	)
Service charges on deposit accounts	11,153			11,178			(25	)	(0.2	)	11,066			10,940			10,951			202		1.8
Title revenue	4,741			5,332			(591	)	(11.1	)	6,001			6,135			4,745			(4	)	(0.1	)
Broker commissions	2,738			4,006			(1,268	)	(31.7	)	3,797			3,712			3,823			(1,085	)	(28.4	)
ATM/debit card fee income	3,585			3,604			(19	)	(0.5	)	3,483			3,650			3,503			82		2.3
Income from bank owned life insurance	1,311			1,323			(12	)	(0.9	)	1,305			1,411			1,202			109		9.1
Gain on sale of available-for-sale securities	—			4			(4	)	(100.0	)	12			1,789			196			(196	)	(100.0	)
Other non-interest income	9,703			11,676			(1,973	)	(16.9	)	12,350			11,289			11,485			(1,782	)	(15.5	)
Total non-interest income	47,346			53,238			(5,892	)	(11.1	)	59,821			64,917			55,845			(8,499	)	(15.2	)
Salaries and employee benefits	81,853			80,811			1,042		1.3		85,028			85,105			80,742			1,111		1.4
Occupancy and equipment	16,021			15,551			470		3.0		16,526			16,813			16,907			(886	)	(5.2	)
Loss on early termination of loss share agreements	—			17,798			(17,798	)	(100.0	)	—			—			—			—		N/M
Amortization of acquisition intangibles	1,770			2,087			(317	)	(15.2	)	2,106			2,109			2,113			(343	)	(16.2	)
Other non-interest expense	41,374			35,323			6,051		17.1		34,479			35,477			37,690			3,684		9.8
Total non-interest expense	141,018			151,570			(10,552	)	(7.0	)	138,139			139,504			137,452			3,566		2.6
Income before income taxes	72,992			58,164			14,828		25.5		72,615			76,300			64,891			8,101		12.5
Income tax expense	22,519			13,034			9,485		72.8		24,547			25,490			22,122			397		1.8
Net income	50,473			45,130			5,343		11.8		48,068			50,810			42,769			7,704		18.0
Preferred stock dividends	(3,599		)	(957		)	(2,642	)	(276.1	)	(3,590		)	(854		)	(2,576		)	(1,023	)	39.7
Net income available to common shareholders	$	46,874		$	44,173		2,701		6.1		$	44,478		$	49,956		$	40,193		6,681		16.6
Income available to common shareholders - basic	$	46,874		$	44,173		2,701		6.1		$	44,478		$	49,956		$	40,193		6,681		16.6
Earnings allocated to unvested restricted stock	(346		)	(414		)	68		(16.4	)	(462		)	(540		)	(460		)	114		(24.8	)
Earnings allocated to common shareholders	$	46,528		$	43,759		2,769		6.3		$	44,016		$	49,416		$	39,733		6,795		17.1

13

Earnings per common share - basic	$	1.01	$	1.05	(0.04	)	(3.8	)	$	1.08	$	1.21		$	0.98	0.03		3.1
Earnings per common share - diluted	1.00		1.04		(0.04	)	(3.8	)	1.08		1.21			0.97		0.03		3.1
Impact of non-core items (Non-GAAP) (1)	0.02		0.12		(0.10	)	(83.3	)	—		(0.03		)	0.04		(0.02	)	(50.0	)
Earnings per share - diluted, excluding non-core items (Non-GAAP) (1)	$	1.02	$	1.16	(0.14	)	(12.1	)	$	1.08	$	1.18		$	1.01	0.01		1.0
NUMBER OF COMMON SHARES OUTSTANDING (in thousands)
Weighted average common shares outstanding - basic	46,123		42,109		4,014		9.5		41,052		41,232			41,186		4,937		12.0
Weighted average common shares outstanding - diluted	46,496		41,950		4,546		10.8		40,811		40,908			40,765		5,731		14.1
Book value shares (period end)	50,970		44,795		6,175		13.8		41,082		41,039			41,232		9,738		23.6
(1)  See Table 10 and Table 11 for GAAP to Non-GAAP reconciliations.
N/M = not meaningful

14

TABLE 3 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
PERIOD-END BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
Cash and due from banks	$	276,979		$	295,896		(18,917	)	(6.4	)	$	327,799		$	288,141		$	300,207		(23,228	)	(7.7	)
Interest-bearing deposits in other banks	1,024,139			1,066,230			(42,091	)	(3.9	)	773,454			417,157			696,448			327,691		47.1
Total cash and cash equivalents	1,301,118			1,362,126			(61,008	)	(4.5	)	1,101,253			705,298			996,655			304,463		30.5
Investment securities available for sale	3,823,953			3,446,097			377,856		11.0		2,885,413			2,776,015			2,755,425			1,068,528		38.8
Investment securities held to maturity	86,018			89,216			(3,198	)	(3.6	)	90,653			92,904			96,117			(10,099	)	(10.5	)
Total investment securities	3,909,971			3,535,313			374,658		10.6		2,976,066			2,868,919			2,851,542			1,058,429		37.1
Mortgage loans held for sale	122,333			157,041			(34,708	)	(22.1	)	210,866			229,653			192,545			(70,212	)	(36.5	)
Loans, net of unearned income	15,132,202			15,064,971			67,231		0.4		14,924,499			14,722,561			14,451,244			680,958		4.7
Allowance for loan losses	(144,890		)	(144,719		)	(171	)	0.1		(148,193		)	(147,452		)	(146,557		)	1,667		(1.1	)
Loans, net	14,987,312			14,920,252			67,060		0.4		14,776,306			14,575,109			14,304,687			682,625		4.8
Loss share receivable	—			—			—		—		24,406			29,224			33,564			(33,564	)	(100.0	)
Premises and equipment	303,978			306,373			(2,395	)	(0.8	)	308,932			311,173			314,615			(10,637	)	(3.4	)
Goodwill and other intangibles	758,340			759,823			(1,483	)	(0.2	)	761,206			763,387			768,235			(9,895	)	(1.3	)
Other assets	625,427			618,262			7,165		1.2		629,531			678,092			630,720			(5,293	)	(0.8	)
Total assets	$	22,008,479		$	21,659,190		349,289		1.6		$	20,788,566		$	20,160,855		$	20,092,563		1,915,916		9.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	5,031,583		$	4,928,878		102,705		2.1		$	4,787,485		$	4,539,254		$	4,484,024		547,559		12.2
NOW accounts	3,085,720			3,314,281			(228,561	)	(6.9	)	2,904,835			2,985,284			2,960,562			125,158		4.2
Savings and money market accounts	7,185,864			7,033,917			151,947		2.2		6,646,694			6,188,245			6,736,146			449,718		6.7
Certificates of deposit	2,009,098			2,131,207			(122,109	)	(5.7	)	2,183,503			2,149,244			2,079,834			(70,736	)	(3.4	)
Total deposits	17,312,265			17,408,283			(96,018	)	(0.6	)	16,522,517			15,862,027			16,260,566			1,051,699		6.5
Short-term borrowings	80,000			175,000			(95,000	)	(54.3	)	360,000			477,620			195,000			(115,000	)	(59.0	)
Securities sold under agreements to repurchase	368,696			334,136			34,560		10.3		353,272			288,017			303,238			65,458		21.6
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	507,975			508,843			(868	)	(0.2	)	552,328			567,326			478,814			29,161		6.1
Other liabilities	161,458			173,124			(11,666	)	(6.7	)	213,229			208,158			186,926			(25,468	)	(13.6	)
Total liabilities	18,550,504			18,719,496			(168,992	)	(0.9	)	18,121,456			17,523,258			17,544,654			1,005,850		5.7
Total shareholders' equity	3,457,975			2,939,694			518,281		17.6		2,667,110			2,637,597			2,547,909			910,066		35.7
Total liabilities and shareholders' equity	$	22,008,479		$	21,659,190		349,289		1.6		$	20,788,566		$	20,160,855		$	20,092,563		1,915,916		9.5

15

TABLE 3 Continued - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
AVERAGE BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
Cash and due from banks	$	302,585		$	310,132		(7,547	)	(2.4	)	$	299,445		$	304,304		$	292,476		10,109		3.5
Interest-bearing deposits in other banks	1,023,688			930,524			93,164		10.0		536,741			386,139			365,709			657,979		179.9
Total cash and cash equivalents	1,326,273			1,240,656			85,617		6.9		836,186			690,443			658,185			668,088		101.5
Investment securities available for sale	3,679,817			3,192,040			487,777		15.3		2,825,030			2,823,292			2,797,320			882,497		31.5
Investment securities held to maturity	87,246			90,161			(2,915	)	(3.2	)	92,006			94,609			97,391			(10,145	)	(10.4	)
Total investment securities	3,767,063			3,282,201			484,862		14.8		2,917,036			2,917,901			2,894,711			872,352		30.1
Mortgage loans held for sale	175,512			226,565			(51,053	)	(22.5	)	219,369			211,468			160,873			14,639		9.1
Loans, net of unearned income	15,045,755			14,912,350			133,405		0.9		14,802,199			14,570,945			14,354,410			691,345		4.8
Allowance for loan losses	(145,326		)	(150,499		)	5,173		(3.4	)	(149,101		)	(149,037		)	(141,393		)	(3,933	)	2.8
Loans, net	14,900,429			14,761,851			138,578		0.9		14,653,098			14,421,908			14,213,017			687,412		4.8
Loss share receivable	—			20,456			(20,456	)	(100.0	)	27,694			32,189			37,360			(37,360	)	(100.0	)
Premises and equipment	305,245			308,861			(3,616	)	(1.2	)	310,592			313,862			322,086			(16,841	)	(5.2	)
Goodwill and other intangibles	758,887			760,003			(1,116	)	(0.1	)	762,196			764,818			765,898			(7,011	)	(0.9	)
Other assets	628,092			615,666			12,426		2.0		666,657			651,328			609,181			18,911		3.1
Total assets	$	21,861,501		$	21,216,259		645,242		3.0		$	20,392,828		$	20,003,917		$	19,661,311		2,200,190		11.2
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	4,976,945		$	4,869,095		107,850		2.2		$	4,605,447		$	4,463,928		$	4,388,259		588,686		13.4
NOW accounts	3,239,085			2,981,967			257,118		8.6		2,936,130			2,911,510			2,859,940			379,145		13.3
Savings and money market accounts	7,211,545			6,869,614			341,931		5.0		6,359,006			6,486,242			6,598,838			612,707		9.3
Certificates of deposit	2,083,749			2,172,967			(89,218	)	(4.1	)	2,176,159			2,117,711			2,098,032			(14,283	)	(0.7	)
Total deposits	17,511,324			16,893,643			617,681		3.7		16,076,742			15,979,391			15,945,069			1,566,255		9.8
Short-term borrowings	99,000			260,730			(161,730	)	(62.0	)	430,332			358,837			277,374			(178,374	)	(64.3	)
Securities sold under agreements to repurchase	311,726			342,953			(31,227	)	(9.1	)	302,119			265,465			217,296			94,430		43.5
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	498,384			544,353			(45,969	)	(8.4	)	562,598			473,195			403,393			94,991		23.5
Other liabilities	221,993			300,768			(78,775	)	(26.2	)	239,911			203,050			167,810			54,183		32.3
Total liabilities	18,762,537			18,462,557			299,980		1.6		17,731,812			17,400,048			17,131,052			1,631,485		9.5
Total shareholders' equity	3,098,964			2,753,702			345,262		12.5		2,661,016			2,603,869			2,530,259			568,705		22.5
Total liabilities and shareholders' equity	$	21,861,501		$	21,216,259		645,242		3.0		$	20,392,828		$	20,003,917		$	19,661,311		2,200,190		11.2

16

Table 4 - IBERIABANK CORPORATION
TOTAL LOANS AND ASSET QUALITY DATA
(Dollars in thousands)
							Linked Qtr Change													Year/Year Change
LOANS	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
Commercial loans:
Real estate	$	6,977,874		$	6,802,266		175,608		2.6		$	6,681,215		$	6,472,001		$	6,230,628		747,246		12.0
Commercial and Industrial	3,455,578			3,543,122			(87,544	)	(2.5	)	3,462,997			3,435,809			3,374,382			81,196		2.4
Energy (Real Estate and Commercial and Industrial) (1)	563,623			561,193			2,430		0.4		599,641			662,034			731,662			(168,039	)	(23.0	)
Total commercial loans	10,997,075			10,906,581			90,494		0.8		10,743,853			10,569,844			10,336,672			660,403		6.4
Residential mortgage loans	1,296,358			1,267,400			28,958		2.3		1,270,530			1,249,062			1,208,391			87,967		7.3
Consumer loans:
Home equity	2,146,796			2,155,926			(9,130	)	(0.4	)	2,151,130			2,129,812			2,091,514			55,282		2.6
Indirect automobile	110,200			131,052			(20,852	)	(15.9	)	153,913			182,223			213,179			(102,979	)	(48.3	)
Automobile	142,139			147,662			(5,523	)	(3.7	)	152,972			156,597			164,868			(22,729	)	(13.8	)
Credit card	84,113			82,992			1,121		1.4		80,959			78,552			76,756			7,357		9.6
Other	355,521			373,358			(17,837	)	(4.8	)	371,142			356,471			359,864			(4,343	)	(1.2	)
Total consumer loans	2,838,769			2,890,990			(52,221	)	(1.8	)	2,910,116			2,903,655			2,906,181			(67,412	)	(2.3	)
Total loans	$	15,132,202		$	15,064,971		67,231		0.4		$	14,924,499		$	14,722,561		$	14,451,244		680,958		4.7
Allowance for loan losses (2)	$	(144,890	)	$	(144,719	)	(171	)	0.1		$	(148,193	)	$	(147,452	)	$	(146,557	)	1,667		(1.1	)
Loans, net	14,987,312			14,920,252			67,060		0.4		14,776,306			14,575,109			14,304,687			682,625		4.8
Reserve for unfunded commitments	(11,660		)	(11,241		)	(419	)	3.7		(11,990		)	(13,826		)	(14,033		)	2,373		(16.9	)
Allowance for credit losses	(156,550		)	(155,960		)	(590	)	0.4		(160,183		)	(161,278		)	(160,590		)	4,040		(2.5	)
ASSET QUALITY DATA
Non-accrual loans (3)	$	191,582		$	228,501		(36,919	)	(16.2	)	$	235,521		$	101,738		$	98,588		92,994		94.3
Other real estate owned and foreclosed assets	20,055			21,199			(1,144	)	(5.4	)	22,085			27,220			31,411			(11,356	)	(36.2	)
Accruing loans more than 90 days past due (3)	7,980			1,386			6,594		475.8		5,233			751			385			7,595		1,972.7
Total non-performing assets	$	219,617		$	251,086		(31,469	)	(12.5	)	$	262,839		$	129,709		$	130,384		89,233		68.4
Loans 30-89 days past due	$	36,172		$	28,869		7,303		25.3		$	45,125		$	50,592		$	49,071		(12,899	)	(26.3	)
Non-performing assets to total assets	1.00		%	1.16		%					1.26		%	0.64		%	0.65		%
Non-performing assets to total loans and OREO	1.45			1.66							1.76			0.88			0.90
Allowance for loan losses to non-performing loans (4)	72.6			63.0							61.6			143.9			148.1
Allowance for loan losses to non-performing assets	66.0			57.6							56.4			113.7			112.4
Allowance for loan losses to total loans	0.96			0.96							0.99			1.00			1.01

17

Quarter-to-date charge-offs	$	7,291		$	9,785		(2,494	)	(25.5	)	$	11,500		$	12,994		$	5,560		1,731	31.1
Quarter-to-date recoveries	(1,235		)	(2,135		)	900		(42.2	)	(1,277		)	(1,071		)	(1,551		)	316	(20.4	)
Quarter-to-date net charge-offs	$	6,056		$	7,650		(1,594	)	(20.8	)	$	10,223		$	11,923		$	4,009		2,047	51.1
Net charge-offs to average loans (annualized)	0.16		%	0.21		%					0.28		%	0.33		%	0.11		%
(1) For purposes of this table, energy loans generally include loans with specific NAICS codes that relate to the Oil and Gas E&P, Services or Midstream industries.
(2) The allowance for loan losses includes impairment reserves attributable to acquired impaired loans.
(3) For purposes of this table, non-accrual and past due loans exclude acquired impaired loans accounted for under ASC 310-30 that are currently accruing income.
(4) Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.

18

Table 5 - IBERIABANK CORPORATION
LEGACY LOANS AND LEGACY ASSET QUALITY DATA
(Dollars in thousands)
							Linked Qtr Change													Year/Year Change
LEGACY LOANS	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
Commercial loans:
Real estate	$	5,878,509		$	5,623,314		255,195		4.5		$	5,419,483		$	5,097,689		$	4,771,690		1,106,819		23.2
Commercial and Industrial	3,140,205			3,194,796			(54,591	)	(1.7	)	3,101,472			3,027,590			2,926,686			213,519		7.3
Energy (Real Estate and Commercial and Industrial) (1)	562,515			559,289			3,226		0.6		598,279			659,510			728,778			(166,263	)	(22.8	)
Total commercial loans	9,581,229			9,377,399			203,830		2.2		9,119,234			8,784,789			8,427,154			1,154,075		13.7
Residential mortgage loans	901,859			854,216			47,643		5.6		840,082			794,701			730,621			171,238		23.4
Consumer loans:
Home equity	1,797,123			1,783,421			13,702		0.8		1,755,295			1,695,113			1,625,812			171,311		10.5
Indirect automobile	110,174			131,048			(20,874	)	(15.9	)	153,904			182,199			213,141			(102,967	)	(48.3	)
Automobile	133,852			138,638			(4,786	)	(3.5	)	143,355			146,394			153,732			(19,880	)	(12.9	)
Credit card	83,612			82,524			1,088		1.3		80,452			78,044			76,247			7,365		9.7
Other	315,595			327,678			(12,083	)	(3.7	)	321,048			303,609			301,990			13,605		4.5
Total consumer loans	2,440,356			2,463,309			(22,953	)	(0.9	)	2,454,054			2,405,359			2,370,922			69,434		2.9
Total loans	$	12,923,444		$	12,694,924		228,520		1.8		$	12,413,370		$	11,984,849		$	11,528,697		1,394,747		12.1
Allowance for loan losses	$	(105,813	)	$	(105,569	)	(244	)	0.2		$	(108,889	)	$	(106,861	)	$	(105,574	)	(239	)	0.2
Loans, net	12,817,631			12,589,355			228,276		1.8		12,304,481			11,877,988			11,423,123			1,394,508		12.2
Reserve for unfunded commitments	(11,660		)	(11,241		)	(419	)	3.7		(11,990		)	(13,826		)	(14,033		)	2,373		(16.9	)
Allowance for credit losses	(117,473		)	(116,810		)	(663	)	0.6		(120,879		)	(120,687		)	(119,607		)	2,134		(1.8	)
ASSET QUALITY DATA
Non-accrual loans	$	185,078		$	221,543		(36,465	)	(16.5	)	$	227,122		$	95,096		$	93,429		91,649		98.1
Other real estate owned and foreclosed assets	8,217			9,264			(1,047	)	(11.3	)	11,538			14,478			17,662			(9,445	)	(53.5	)
Accruing loans more than 90 days past due	3,100			1,104			1,996		180.8		4,936			353			125			2,975		2,380.0
Total non-performing assets	$	196,395		$	231,911		(35,516	)	(15.3	)	$	243,596		$	109,927		$	111,216		85,179		76.6
Loans 30-89 days past due	$	32,286		$	24,902		7,384		29.7		$	41,157		$	45,906		$	42,454		(10,168	)	(24.0	)
Non-performing assets to total assets	0.99		%	1.20		%					1.33		%	0.63		%	0.65		%
Non-performing assets to total loans and OREO	1.52			1.83							1.96			0.92			0.96
Allowance for loan losses to non-performing loans (2)	56.2			47.4							46.9			112.0			112.9
Allowance for loan losses to non-performing assets	53.9			45.5							44.7			97.2			94.9
Allowance for loan losses to total loans	0.82			0.83							0.88			0.89			0.92

19

Quarter-to-date charge-offs	$	7,202		$	9,496		(2,294	)	(24.2	)	$	11,201		$	11,969		$	5,389		1,813	33.6
Quarter-to-date recoveries	(880		)	(1,910		)	1,030		(53.9	)	(1,102		)	(775		)	(1,247		)	367	(29.4	)
Quarter-to-date net charge-offs	$	6,322		$	7,586		(1,264	)	(16.7	)	$	10,099		$	11,194		$	4,142		2,180	52.6
Net charge-offs to average loans (annualized)	0.20		%	0.24		%					0.33		%	0.38		%	0.15		%
(1) For purposes of this table, energy loans generally include loans with specific NAICS codes that relate to the Oil and Gas E&P, Services or Midstream industries.
(2) Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.

20

Table 6 - IBERIABANK CORPORATION
ACQUIRED LOANS AND ACQUIRED ASSET QUALITY DATA
(Dollars in thousands)
							Linked Qtr Change													Year/Year Change
ACQUIRED LOANS	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
Commercial loans:
Real estate	$	1,099,365		$	1,178,952		(79,587	)	(6.8	)	$	1,261,732		$	1,374,312		$	1,458,938		(359,573	)	(24.6	)
Commercial and Industrial	315,373			348,326			(32,953	)	(9.5	)	361,525			408,219			447,696			(132,323	)	(29.6	)
Energy (Real Estate and Commercial and Industrial) (1)	1,108			1,904			(796	)	(41.8	)	1,362			2,524			2,884			(1,776	)	(61.6	)
Total commercial loans	1,415,846			1,529,182			(113,336	)	(7.4	)	1,624,619			1,785,055			1,909,518			(493,672	)	(25.9	)
Residential mortgage loans	394,499			413,184			(18,685	)	(4.5	)	430,448			454,361			477,770			(83,271	)	(17.4	)
Consumer loans:
Home equity	349,673			372,505			(22,832	)	(6.1	)	395,835			434,699			465,702			(116,029	)	(24.9	)
Indirect automobile	26			4			22		550.0		9			24			38			(12	)	(31.6	)
Automobile	8,287			9,024			(737	)	(8.2	)	9,617			10,203			11,136			(2,849	)	(25.6	)
Credit card	501			468			33		7.1		507			508			509			(8	)	(1.6	)
Other	39,926			45,680			(5,754	)	(12.6	)	50,094			52,862			57,874			(17,948	)	(31.0	)
Total consumer loans	398,413			427,681			(29,268	)	(6.8	)	456,062			498,296			535,259			(136,846	)	(25.6	)
Total loans	$	2,208,758		$	2,370,047		(161,289	)	(6.8	)	$	2,511,129		$	2,737,712		$	2,922,547		(713,789	)	(24.4	)
Allowance for loan losses (2)	$	(39,077	)	$	(39,150	)	73		(0.2	)	$	(39,304	)	$	(40,591	)	$	(40,983	)	1,906		(4.7	)
Loans, net	2,169,681			2,330,897			(161,216	)	(6.9	)	2,471,825			2,697,121			2,881,564			(711,883	)	(24.7	)
ACQUIRED ASSET QUALITY DATA (3)
Non-accrual loans	$	6,504		$	6,958		(454	)	(6.5	)	$	8,399		$	6,642		$	5,159		1,345		26.1
Other real estate owned and foreclosed assets	11,838			11,935			(97	)	(0.8	)	10,547			12,742			13,749			(1,911	)	(13.9	)
Accruing loans more than 90 days past due	4,880			282			4,598		1,630.5		297			398			260			4,620		1,776.9
Total non-performing assets	$	23,222		$	19,175		4,047		21.1		$	19,243		$	19,782		$	19,168		4,054		21.1
Loans 30-89 days past due	$	3,886		$	3,967		(81	)	(2.0	)	$	3,968		$	4,686		$	6,617		(2,731	)	(41.3	)
Non-performing assets to total assets	1.06		%	0.81		%					0.76		%	0.72		%	0.65		%
Non-performing assets to total loans and OREO	1.05			0.81							0.76			0.72			0.65
Allowance for loan losses to non-performing loans	343.3			540.7							452.0			576.6			756.3
Allowance for loan losses to non-performing assets	168.3			204.2							204.3			205.2			213.8
Allowance for loan losses to total loans	1.77			1.65							1.57			1.48			1.40
Quarter-to-date charge-offs	$	89		$	289		(200	)	(69.2	)	$	299		$	1,025		$	171		(82	)	(48.0	)
Quarter-to-date recoveries	(355		)	(225		)	(130	)	57.8		(175		)	(296		)	(304		)	(51	)	16.8
Quarter-to-date net charge-offs/(recoveries)	$	(266	)	$	64		(330	)	(515.6	)	$	124		$	729		$	(133	)	(133	)	100.0
Net charge-offs/(recoveries) to average loans (annualized)	(0.05		)%	0.01		%					0.02		%	0.10		%	(0.02		)%

21

(1) For purposes of this table, energy loans generally include loans with specific NAICS codes that relate to the Oil and Gas E&P, Services or Midstream industries.

(2) The allowance for loan losses includes impairment reserves attributable to acquired impaired loans.

(3) Acquired non-performing loans exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

22

Table 7 - IBERIABANK CORPORATION
ENERGY LOANS, ENERGY-RELATED COMMITMENTS AND ASSET QUALITY DATA
(Dollars in thousands)
ENERGY LOANS: (1)							Linked Qtr Change													Year/Year Change
	3/31/2017			12/31/2016			$		%		9/30/2016			6/30/2016			3/31/2016			$		%
E&P	$	265,696		$	290,711		(25,015	)	(8.6	)	$	301,223		$	328,066		$	369,725		(104,029	)	(28.1	)
Midstream	123,436			90,120			33,316		37.0		110,821			123,687			130,556			(7,120	)	(5.5	)
Service	174,491			180,362			(5,871	)	(3.3	)	187,597			210,281			231,381			(56,890	)	(24.6	)
Total energy loans	$	563,623		$	561,193		2,430		0.4		$	599,641		$	662,034		$	731,662		(168,039	)	(23.0	)
ENERGY-RELATED COMMITMENTS:
E&P	$	543,689		$	545,061		(1,372	)	(0.3	)	$	545,383		$	572,267		$	677,258		(133,569	)	(19.7	)
Midstream	238,186			182,998			55,188		30.2		198,618			201,555			206,504			31,682		15.3
Service	243,991			241,740			2,251		0.9		261,450			295,591			329,282			(85,291	)	(25.9	)
Total energy-related commitments	$	1,025,866		$	969,799		56,067		5.8		$	1,005,451		$	1,069,413		$	1,213,044		(187,178	)	(15.4	)
Total loans net of unearned income	$	15,132,202		$	15,064,971		67,231		0.4		$	14,924,499		$	14,722,561		$	14,451,244		680,958		4.7
Energy loan outstandings as a % of total loans	3.7		%	3.7		%					4.0		%	4.5		%	5.1		%
Energy-related commitments as a % of total commitments	5.2		%	4.8		%					5.1		%	5.4		%	6.3		%
Allowance for loan losses	$	(20,144	)	$	(22,524	)	2,380		(10.6	)	$	(28,215	)	$	(33,040	)	$	(38,495	)	18,351		(47.7	)
Reserve for unfunded commitments	(203		)	(1,003		)	800		(79.8	)	(953		)	(2,223		)	(903		)	700		(77.5	)
Allowance for credit losses	(20,347		)	(23,527		)	3,180		(13.5	)	(29,168		)	(35,263		)	(39,398		)	19,051		(48.4	)
ASSET QUALITY DATA
Non-accrual loans	$	113,212		$	150,329		(37,117	)	(24.7	)	$	153,620		$	60,814		$	46,223		66,989		144.9
Other real estate owned and foreclosed assets	—			—			—		—		—			—			—			—		—
Accruing loans more than 90 days past due	2,175			—			2,175		N/M		—			—			—			2,175		N/M
Total non-performing assets	$	115,387		$	150,329		(34,942	)	(23.2	)	$	153,620		$	60,814		$	46,223		69,164		149.6
Loans 30-89 days past due	$	157		$	1,526		(1,369	)	(89.7	)	$	—		$	3,055		$	—		157		N/M
Non-performing assets to total energy loans and OREO	20.47		%	26.79		%					25.62		%	9.19		%	6.32		%
Allowance for loan losses to non-performing loans (2)	17.5			15.0							18.4			54.3			83.3
Allowance for loan losses to non-performing assets	17.5			15.0							18.4			54.3			83.3
Allowance for loan losses to total energy loans	3.57			4.01							4.71			4.99			5.26

23

Quarter-to-date charge-offs	$	2,845		$	2,321		$	6,957		$	7,715		$	—
Quarter-to-date recoveries	—			(840		)	—			—			—
Quarter-to-date net charge-offs	$	2,845		$	1,481		$	6,957		$	7,715		$	—
Net charge-offs to average loans (annualized)	2.05		%	1.02		%	4.39		%	4.44		%	0.00		%
(1) For purposes of this table, energy loans generally include loans with specific NAICS codes that relate to the Oil and Gas E&P, Services or Midstream industries.
(2) Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.
N/M - Not meaningful

24

TABLE 8 - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2017							12/31/2016							Basis Point Change
ASSETS	Average Balance			Interest Income/Expense		Yield/Rate (TE)		Average Balance		Interest Income/Expense			Yield/Rate (TE)		Yield/Rate (TE)
Earning assets:
Commercial loans	$	10,917,714		$	119,605	4.50	%	$	10,759,264	$	114,694		4.29	%	21
Residential mortgage loans	1,273,069			12,848		4.04		1,267,413		14,038			4.43		(39)
Consumer loans	2,854,972			36,524		5.19		2,885,673		36,960			5.10		9
Total loans	15,045,755			168,977		4.59		14,912,350		165,692			4.46		13
Loss share receivable	—			—		0.00		20,456		(3,539		)	(68.83	)	6,883
Total loans and loss share receivable	15,045,755			168,977		4.59		14,932,806		162,153			4.36		23
Mortgage loans held for sale	175,512			971		2.21		226,565		1,539			2.72		(51)
Investment securities (2)	3,741,128			19,927		2.24		3,154,252		15,464			2.09		15
Other earning assets	1,123,087			2,658		0.96		1,034,980		1,649			0.63		33
Total earning assets	20,085,482			192,533		3.93		19,348,603		180,805			3.77		16
Allowance for loan losses	(145,326		)					(150,499)
Non-earning assets	1,921,345							2,018,155
Total assets	$	21,861,501						$	21,216,259
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	3,239,085		$	3,090	0.39	%	$	2,981,967	$	2,483		0.33	%	6
Savings and money market accounts	7,211,545			8,329		0.47		6,869,614		7,732			0.45		2
Certificates of deposit	2,083,749			4,638		0.90		2,172,967		4,785			0.88		2
Total interest-bearing deposits (3)	12,534,379			16,057		0.52		12,024,548		15,000			0.50		2
Short-term borrowings	410,726			277		0.27		603,683		552			0.36		(9)
Long-term debt	618,494			3,381		2.22		664,463		3,588			2.15		7
Total interest-bearing liabilities	13,563,599			19,715		0.59		13,292,694		19,140			0.57		2
Non-interest-bearing deposits	4,976,945							4,869,095
Non-interest-bearing liabilities	221,993							300,768
Total liabilities	18,762,537							18,462,557
Total shareholders' equity	3,098,964							2,753,702
Total liabilities and shareholders' equity	$	21,861,501						$	21,216,259
Net interest income/Net interest spread				$	172,818	3.34	%			$	161,665		3.20	%	14
Tax-equivalent benefit				2,491		0.05				2,340			0.05		—
Net interest income (TE)/Net interest margin (TE) (1)				$	175,309	3.53	%			$	164,005		3.38	%	15
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the three months ended March 31, 2017 and December 31, 2016 total 0.37% and 0.35%, respectively.

25

TABLE 8 Continued - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	9/30/2016						6/30/2016						3/31/2016
ASSETS	Average Balance		Interest Income/Expense		Yield/Rate (TE)		Average Balance		Interest Income/Expense		Yield/Rate (TE)		Average Balance		Interest Income/Expense		Yield/Rate (TE)
Earning assets:
Commercial loans	$	10,646,874	$	116,653	4.41	%	$	10,458,822	$	114,588	4.46	%	$	10,250,555	$	113,417	4.51	%
Residential mortgage loans	1,254,665		13,718		4.37		1,221,254		13,781		4.51		1,202,692		13,429		4.47
Consumer loans	2,900,660		37,413		5.13		2,890,869		37,200		5.18		2,901,163		37,145		5.15
Total loans	14,802,199		167,784		4.55		14,570,945		165,569		4.61		14,354,410		163,991		4.63
Loss share receivable	27,694		(3,935)		(56.53	)	32,189		(4,163)		(52.01	)	37,360		(4,386)		(47.22	)
Total loans and loss share receivable	14,829,893		163,849		4.44		14,603,134		161,406		4.48		14,391,770		159,605		4.49
Mortgage loans held for sale	219,369		1,774		3.24		211,468		1,850		3.50		160,873		1,401		3.48
Investment securities (2)	2,830,892		13,815		2.08		2,856,805		14,663		2.17		2,866,974		15,212		2.24
Other earning assets	641,080		1,066		0.66		483,597		775		0.64		453,737		718		0.64
Total earning assets	18,521,234		180,504		3.93		18,155,004		178,694		4.01		17,873,354		176,936		4.03
Allowance for loan losses	(149,101)						(149,037)						(141,393)
Non-earning assets	2,020,695						1,997,950						1,929,350
Total assets	$	20,392,828					$	20,003,917					$	19,661,311
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	2,936,130	$	2,313	0.31	%	$	2,911,510	$	2,080	0.29	%	$	2,859,940	$	1,940	0.27	%
Savings and money market accounts	6,359,006		5,826		0.36		6,486,242		5,527		0.34		6,598,838		5,640		0.34
Certificates of deposit	2,176,159		4,592		0.84		2,117,711		4,309		0.82		2,098,032		4,354		0.83
Total interest-bearing deposits (3)	11,471,295		12,731		0.44		11,515,463		11,916		0.42		11,556,810		11,934		0.42
Short-term borrowings	732,451		753		0.41		624,302		662		0.43		494,670		485		0.39
Long-term debt	682,708		3,603		2.10		593,305		3,363		2.28		523,503		3,114		2.39
Total interest-bearing liabilities	12,886,454		17,087		0.53		12,733,070		15,941		0.51		12,574,983		15,533		0.50
Non-interest-bearing deposits	4,605,447						4,463,928						4,388,259
Non-interest-bearing liabilities	239,911						203,050						167,810
Total liabilities	17,731,812						17,400,048						17,131,052
Total shareholders' equity	2,661,016						2,603,869						2,530,259
Total liabilities and shareholders' equity	$	20,392,828					$	20,003,917					$	19,661,311
Net interest income/Net interest spread			$	163,417	3.40	%			$	162,753	3.50	%			$	161,403	3.53	%
Tax-equivalent benefit			2,330		0.05				2,290		0.05				2,325		0.05
Net interest income (TE)/Net interest margin (TE) (1)			$	165,747	3.56	%			$	165,043	3.65	%			$	163,728	3.68	%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the three months ended September 30, 2016, June 30, 2016 and March 31, 2016 total 0.32%, 0.30% and 0.30%, respectively.

26

Table 9 - IBERIABANK CORPORATION
LEGACY AND ACQUIRED LOAN PORTFOLIO VOLUMES AND YIELDS
(Dollars in millions)
	For the Three Months Ended
	3/31/2017							12/31/2016							9/30/2016							6/30/2016							3/31/2016
AS REPORTED (US GAAP)	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	131		$	12,760	4.12	%	$	125		$	12,481	3.97	%	$	123		$	12,183	4.00	%	$	118		$	11,737	4.04	%	$	115		$	11,319	4.05	%
Acquired loans (1)	38			2,286		6.81		37			2,452		5.99		41			2,647		6.16		43			2,866		6.07		45			3,073		5.90
Total loans	$	169		$	15,046	4.55	%	$	162		$	14,933	4.30	%	$	164		$	14,830	4.38	%	$	161		$	14,603	4.43	%	$	160		$	14,392	4.45	%
	3/31/2017							12/31/2016							9/30/2016							6/30/2016							3/31/2016
ADJUSTMENTS	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 (1)	(11		)	87		(2.08	)	(8		)	73		(1.43	)	(9		)	76		(1.49	)	(9		)	84		(1.41	)	(7		)	86		(1.05	)
Total loans	$	(11	)	$	87	(0.31	)%	$	(8	)	$	73	(0.23	)%	$	(9	)	$	76	(0.26	)%	$	(9	)	$	84	(0.27	)%	$	(7	)	$	86	(0.22	)%
	3/31/2017							12/31/2016							9/30/2016							6/30/2016							3/31/2016
AS ADJUSTED (CASH YIELD, NON-GAAP)	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	131		$	12,760	4.12	%	$	125		$	12,481	3.97	%	$	123		$	12,183	4.00	%	$	118		$	11,737	4.04	%	$	115		$	11,319	4.05	%
Acquired loans (1)	27			2,373		4.73		29			2,525		4.56		32			2,723		4.67		34			2,950		4.67		38			3,159		4.85
Total loans	$	158		$	15,133	4.24	%	$	154		$	15,006	4.07	%	$	155		$	14,906	4.12	%	$	152		$	14,687	4.16	%	$	153		$	14,478	4.23	%
(1) Acquired loans include the impact of the FDIC Indemnification Asset in periods prior to loss share termination in December 2016.

27

Table 10 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2017									12/31/2016									9/30/2016
	Pre-tax			After-tax (1)			Per share (2)			Pre-tax			After-tax (1)			Per share (2)			Pre-tax			After-tax (1)			Per share (2)
Net income	$	72,992		$	50,473		$	1.08		$	58,164		$	45,130		$	1.06		$	72,615		$	48,068		$	1.17
Preferred stock dividends	—			(3,599		)	(0.08		)	—			(957		)	(0.02		)	—			(3,590		)	(0.09		)
Income available to common shareholders (GAAP)	$	72,992		$	46,874		$	1.00		$	58,164		$	44,173		$	1.04		$	72,615		$	44,478		$	1.08
Non-interest income adjustments:
Gain on sale of investments and other non-interest income	(1		)	—			—			(5		)	(3		)	—			(12		)	(8		)	—
Non-interest expense adjustments:
Merger-related expense	54			35			—			—			—			—			—			—			—
Severance expense	98			63			—			188			122			—			—			—			—
Impairment of long-lived assets, net of (gain) loss on sale	1,429			929			0.02			(462		)	(300		)	(0.01		)	—			—			—
Loss on early termination of loss share agreements	—			—			—			17,798			11,569			0.28			—			—			—
Other non-core non-interest expense	—			—			—			484			314			0.01			—			—			—
Total non-interest expense adjustments	1,581			1,027			0.02			18,008			11,705			0.28			—			—			—
Income tax benefits	—			—			—			—			(6,836		)	(0.16		)	—			—			—
Core earnings (Non-GAAP)	74,572			47,901			1.02			76,167			49,039			1.16			72,603			44,470			1.08
Provision for loan losses	6,154			4,000			0.09			5,169			3,360			0.08			12,484			8,115			0.20
Core pre-provision earnings (Non-GAAP)	$	80,726		$	51,901		$	1.11		$	81,336		$	52,399		$	1.24		$	85,087		$	52,585		$	1.28
	For the Three Months Ended
	6/30/2016									3/31/2016
	Pre-tax			After-tax (1)			Per share (2)			Pre-tax			After-tax (1)			Per share (2)
Net income	$	76,300		$	50,810		$	1.23		$	64,891		$	42,769		$	1.03
Preferred stock dividends	—			(854		)	(0.02		)	—			(2,576		)	(0.06		)
Income available to common shareholders (GAAP)	$	76,300		$	49,956		$	1.21		$	64,891		$	40,193		$	0.97
Non-interest income adjustments:
Gain on sale of investments and other non-interest income	(1,789		)	(1,163		)	(0.03		)	(196		)	(127		)	—
Non-interest expense adjustments:
Merger-related expense	—			—			—			3			2			—
Severance expense	140			91			—			454			295			0.01
Impairment of long-lived assets, net of (gain) loss on sale	(1,256		)	(816		)	(0.02		)	1,044			679			0.01

28

Other non-core non-interest expense	1,177		765		0.02		1,091		709		0.02
Total non-interest expense adjustments	61		40		—		2,592		1,685		0.04
Income tax benefits	—		—		—		—		—		—
Core earnings (Non-GAAP)	74,572		48,833		1.18		67,287		41,751		1.01
Provision for loan losses	11,866		7,712		0.19		14,905		9,688		0.24
Core pre-provision earnings (Non-GAAP)	$	86,438	$	56,545	$	1.37	$	82,192	$	51,439	$	1.25
(1) After-tax amounts, excluding preferred stock dividends, are calculated using a tax rate of 35%, which approximates the marginal tax rate.
(2) Diluted per share amounts may not appear to foot due to rounding.

29

Table 11 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2017			12/31/2016			9/30/2016			6/30/2016			3/31/2016
Net interest income (GAAP)	$	172,818		$	161,665		$	163,417		$	162,753		$	161,403
Add: Effect of tax benefit on interest income	2,491			2,340			2,330			2,290			2,325
Net interest income (TE) (Non-GAAP) (1)	175,309			164,005			165,747			165,043			163,728
Non-interest income (GAAP)	47,346			53,238			59,821			64,917			55,845
Add: Effect of tax benefit on non-interest income	706			713			703			760			647
Non-interest income (TE) (Non-GAAP) (1)	48,052			53,951			60,524			65,677			56,492
Taxable equivalent revenues (Non-GAAP) (1)	223,361			217,956			226,271			230,720			220,220
Securities gains and other non-interest income	(1		)	(5		)	(12		)	(1,789		)	(196		)
Core taxable equivalent revenues (Non-GAAP) (1)	$	223,360		$	217,951		$	226,259		$	228,931		$	220,024
Total non-interest expense (GAAP)	$	141,018		$	151,570		$	138,139		$	139,504		$	137,452
Less: Intangible amortization expense	1,770			2,087			2,106			2,109			2,113
Tangible non-interest expense (Non-GAAP) (2)	139,248			149,483			136,033			137,395			135,339
Less: Merger-related expense	54			—			—			—			3
Severance expense	98			188			—			140			454
(Gain) Loss on sale of long-lived assets, net of impairment	1,429			(462		)	—			(1,256		)	1,044
Loss on early termination of loss share agreements	—			17,798			—			—			—
Other non-core non-interest expense	—			484			—			1,177			1,091
Core tangible non-interest expense (Non-GAAP) (2)	$	137,667		$	131,475		$	136,033		$	137,334		$	132,747
Return on average assets (GAAP)	0.94		%	0.85		%	0.94		%	1.02		%	0.87		%
Effect of non-core revenues and expenses	0.02			0.09			0.00			(0.02		)	0.03
Core return on average assets (Non-GAAP)	0.96		%	0.94		%	0.94		%	1.00		%	0.90		%
Efficiency ratio (GAAP)	64.1		%	70.5		%	61.9		%	61.3		%	63.3		%
Effect of tax benefit related to tax-exempt income	(1.0		)	(1.0		)	(0.9)			(0.8)			(0.9)
Efficiency ratio (TE) (Non-GAAP) (1)	63.1		%	69.5		%	61.0		%	60.5		%	62.4		%
Effect of amortization of intangibles	(0.8		)	(1.0		)	(0.9		)	(0.9		)	(1.0		)
Effect of non-core items	(0.7		)	(8.2		)	0.0			0.4			(1.1		)
Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2)	61.6		%	60.3		%	60.1		%	60.0		%	60.3		%
Return on average common equity (GAAP)	6.41		%	6.70		%	7.00		%	8.05		%	6.59		%
Effect of intangibles (2)	2.39			3.01			3.30			3.85			3.30
Effect of non-core revenues and expenses	0.19			1.04			0.00			(0.26		)	0.37
Core return on average tangible common equity (Non-GAAP) (2)	8.99		%	10.75		%	10.30		%	11.64		%	10.26		%
Total shareholders' equity (GAAP)	$	3,457,975		$	2,939,694		$	2,667,110		$	2,637,597		$	2,547,909
Less: Goodwill and other intangibles	753,991			755,765			757,856			759,966			764,730
Preferred stock	132,097			132,097			132,097			132,098			76,812
Tangible common equity (Non-GAAP) (2)	$	2,571,887		$	2,051,832		$	1,777,157		$	1,745,533		$	1,706,367
Total assets (GAAP)	$	22,008,479		$	21,659,190		$	20,788,566		$	20,160,855		$	20,092,563
Less: Goodwill and other intangibles	753,991			755,765			757,856			759,966			764,730
Tangible assets (Non-GAAP) (2)	$	21,254,488		$	20,903,425		$	20,030,710		$	19,400,889		$	19,327,833
Tangible common equity ratio (Non-GAAP) (2)	12.10		%	9.82		%	8.87		%	9.00		%	8.83		%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.
(2) Tangible calculations eliminate the effect of goodwill and acquisition-related intangibles and the corresponding amortization expense on a tax-effected basis where applicable.

30

EX-99.2

focused 1 Q 1 7 E a r n i n g s C o n f e r e n c e C a l l S u p p l e m e n t a l P r e s e n t a t i o n A p r i l 2 7 , 2 0 1 7 Exhibit 99.2

2 Safe Harbor To the extent that statements in this 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. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason. This PowerPoint presentation supplements information contained in the Company’s earnings release dated April 27, 2017, and should be read in conjunction therewith. The earnings release may be accessed on the Company’s web site, www.iberiabank.com, under “Investor Relations” and then “Financial Information” and then “Press Releases.” Non-GAAP Financial Measures This PowerPoint presentation contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses core non-GAAP financial metrics (“Core”) in their analysis of the Company’s performance to identify core revenues and expenses in a period that directly drive operating net income in that period. These Core measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefits 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. Reference is made to “Non-GAAP Financial Measures” and “Caution About Forward Looking Statements” in the earnings release which also apply to certain disclosures in this PowerPoint presentation. Safe Harbor And Non-GAAP Financial Measures

3 1Q17 Highlights • Total and core revenues increased $5 million, or 2%, primarily due to higher average earning assets and margin • Net interest margin and cash margin improved 15 and 11 basis points, respectively, on a linked quarter basis • Non-interest income decreased 11% on a linked quarter basis, primarily due to seasonal declines in fee income businesses Client Growth Revenues Expenses High Quality Focus • Average earning asset growth of $737 million, or 4%, in 1Q17 • Originated or renewed $847 million in loans in 1Q17, down 10% on a linked quarter basis • Period-end legacy loan growth of 2%; 7% annualized growth rate • Average deposits increased 4%; non-interest bearing deposits up 2% (period-end and average); Period-end deposits decreased 1% • Non-performing assets decreased $31 million, or 13%, as energy loan resolution “conveyor belt” progresses • Energy loans increased $2 million, to 3.7% of total loans (unchanged) • Total “risk-off trade” in energy, indirect auto, and Acadiana-based loans is beginning to level off • Remain very asset-sensitive and well positioned for increase in interest rates • Total expenses decreased $11 million, or 7%, and core expenses increased $6 million, or 4% • Core tangible efficiency ratio of approximately 62%, up from 60% in 4Q16 Other • Non-core expenses of $2 million in 1Q17, or $0.02 per share; primarily write-downs of certain long-lived assets • On February 27, 2017, announced agreement to acquire Sabadell United Bank, based in Miami, Florida • Pending Sabadell United acquisition financed via common raises in December 2016 and March 2017; cost of carry for aggregate common stock issuances issue was $0.11 per common share in 1Q17

4 Notable Items of Interest In 1Q17 • In 1Q17, loan growth was slower, and deposit volumes were higher, than expected • Energy issues have crested as evidenced by further declines in energy-related NPAs and other metrics • Loan loss and unfunded commitment provisions each increased by $1 million; net charge-offs declined by $1.6 million • $1.4 million in energy-related deferred interest recoveries in 1Q17 • Non-core items in 1Q17: – No meaningful non-interest income items – $1.4 million impairment of long-lived assets • Notable items in 1Q17: – $1.8 million decrease in tax expense in 1Q17 associated with restricted stock vesting; positive impact of $0.04 to EPS in 1Q17 – Cost of carrying December 2016 and March 2017 common raises equal to an $0.11 EPS impact Highlights Dollars in millions Provision And Charge-Offs Note: Total loans increased 75% during this time period

5 GAAP EPS 1Q17 Summary EPS Results • Income available to common shareholders of $47 million, up 6%, compared to 4Q16 • 1Q17 GAAP EPS of $1.00, down 4% compared to 4Q16 and up 3% compared to 1Q16 • 1Q17 Core EPS of $1.02, down 12% compared to 4Q16 • 1Q17 Core Pre-Tax Pre-Provision income of $81 million, relatively stable compared to 1Q16 and 4Q16 • 1Q17 Core ROA of 0.96% and Core ROTCE of 8.99% CORE EPS CORE Pre-Provision Pre-Tax Highlights Note: Excludes the impact of preferred stock dividends

6 Client Growth • Seasonally soft loan growth in 1Q17 • Period-end loan growth of $67 million, or 0.4% vs. 12/31/16 • Acquired loans declined $161 million, or 7%, and aggregate “risk off” assets declined $44 million during 1Q17 • Legacy loans grew $229 million, or 2% (7% annualized rate) Loan Highlights Dollars in millions Deposits – Period-End And Average GrowthLoans – Period-End Growth Deposit Highlights • Period-end total deposits decreased $96 million, or 1%, vs. 12/31/16 • Average total deposits grew $618 million, or 4% vs. 12/31/16 • Strong growth in non-interest bearing deposits, up $103 million, or 2%, on a period-end basis and up $108 million, or 2%, on an average balance basis

7 • Average earnings assets increased $737 million, or 4%, driven primarily by $279 million in average legacy loan growth and $624 million growth in average investment securities and other liquid assets • Tax-Equivalent net interest margin up 15 basis points and cash margin up 11 basis points on a linked quarter basis; management estimates margin for 2Q17 of 3.60% • $1.4 million in energy-related deferred interest recoveries in 1Q17 • Tax-equivalent net interest income up $11.3 million, or 7% Revenues – Net Interest Income HighlightsQuarterly Yield/Cost Trend Drivers Of Change In Margin Dollars in millions Net Interest Income Net Interest ($ in Millions) Margin 161.7$ 4Q16 3.38% 6.0 Loans Repricing Upward, Higher New Volume Rates 0.08% 1.5 Fees and Interest From Payoffs (Including Non-Accruals) 0.03% 7.5 Changes in Legacy Loan Portfolios 0.11% 2.1 Changes in Acquired Loan Portfolios 0.07% 1.1 Larger Cash Position From Equity Issuance 0.01% (0.9) Increase in Expense From Deposit Promotions -0.02% 4.5 Increased Investment Portfolio Income -0.01% (0.6) Loans HFS Income Decline 0.00% (2.6) Change In Number Of Business Days 0.00% 172.8$ 1Q17 3.53%

8 Revenues – Interest Rate Risk Highlights Assets Liabilities • Loans: 43% fixed and 57% floating • Adjustable loans composition:  Prime-based 40%  LIBOR-based 57%  All other 3% • Most LIBOR-based loans are priced off of 30-Day LIBOR • Approximately $533 million in loans with an average floor that is 64 basis points above the corresponding rate index • Bond portfolio had an effective duration of 3.8 years • Asset-sensitive from an interest rate risk perspective • The degree of asset-sensitivity is a function of the reaction of competitors to changes in deposit pricing • The level of asset sensitivity has increased over time • Forward curve has a positive impact on net interest income over 12-month period • Estimated impact of the next 25 basis point increase in the Federal Funds Rate would equate to a $0.05 increase in quarterly EPS 12-Month Net Interest Income Scenarios • Non-interest-bearing equated to 29% of total deposits • Non-interest-bearing deposits up $103 million, or 2%, on a period-end basis, and up $108 million, or 2%, on an average balance basis • Interest-bearing deposit cost of 0.52%, up two basis points from 4Q16 • No significant change in deposit rates since Fed Funds move in 4Q16, but mix has changed slightly • Cost of interest-bearing liabilities increased two basis points to 0.59%

9 Revenues – Non-Interest Income • No meaningful non-core income in 1Q17; change in income was due to core income changes • Core non-interest income declined $5.9 million, or 11%, compared to 4Q16:  Mortgage income decreased $2.0 million, or 12%  Capital Markets and Brokerage income declined $1.3 million, or 32%  Title revenues decreased $0.6 million, or 11%  Client derivative income decreased $0.2 million on a linked quarter basis HighlightsDrivers Of Non-Interest Income Change Quarter-Over-Quarter Dollars in millions

10 Revenues – Mortgage Income Highlights Volume Trends Mortgage Income Trends • Mortgage income of $14.1 million, down $2.0 million, or 12%:  Loan originations down 29% to $384 million in 1Q17  Sales volume of $427 million (down 27% versus 4Q16)  Fair value adjustments of derivatives and loans were $3.6 million lower than 4Q16 (-$5.6 million in 1Q17 vs -$1.9 million in 4Q16)  Hedging benefit was $1.7 million higher than 4Q16 Dollars in millions Mortgage Weekly Locked Pipeline

11 Expense Control • Total core revenues were up $5.3 million, or 2%, compared to 4Q16 while core expenses were up $5.9 million, or 4%, over that period • Our core tangible efficiency ratio increased to 61.6% in 1Q17, an increase of 131 bps on a linked quarter basis • Notable items included higher salary and benefits, higher credit and loan-related, marketing, insurance and professional services expenses Highlights Efficiency Ratio Trends Drivers Of Expense Change Quarter-Over-Quarter Dollars in millions • Increased 1Q17 salary and benefits cost of $1.1 million, or 1%, includes: • Increased payroll tax expense of $2.2 million; • Increased health care costs of $2.0 million; • Increased compensation expense of $0.8 million; partially offset by • Decreased mortgage commission expenses of $1.9 million; and • Decreased phantom stock expense of $1.6 million

12 • High single-digit loan growth at consolidated level • Headwinds to loan growth from risk-off trade to decline materially • Mid-single-digit deposit growth • Net interest margin will improve as excess liquidity is deployed and impact of low repricing due to March Fed Funds Rate increase • Amortization expense associated with the FDIC indemnification asset, which was previously expected to be approximately $8 million in 2017, will no longer be amortized and will positively impact the net interest margin beginning in 2017 • Overall credit metrics expected to improve throughout 2017 • Provision expense will decline from 2016 levels in conjunction with improving credit within the energy portfolio • Non-interest income is expected to show minimal growth in 2017 over 2016 • Continued cost containment with core tangible efficiency ratio below 60% • Tax rate is expected to be approximately 33.5% assuming no change in the statutory rate • Excess capital for Sabadell Acquisition will have a monthly six cent EPS drag until closing • Based on asset sensitivity modeling for IBKC, future increases in the Fed funds rate is estimated to increase quarterly EPS by five cents for each 25 basis point increase The Company’s guidance is subject to risks, uncertainties, and assumptions which could, individually or in aggregate, cause actual results or financial condition to differ materially from those anticipated above. Reference is made to “Caution About Forward-Looking Statements” in the earnings release which also applies to this guidance. 2017 Guidance And Key Assumptions

13 “Risk-Off” Focus • Purpose: reduce current exposures to avoid future potential loss exposures (though some near-term cost) • $841 million in cumulative risk-off trade since the beginning of 2015 • An estimated pre-tax opportunity cost of $5.5 million during 2015, $15.1 million for the full year of 2016, and $5.1 million in 1Q17 ($0.07 EPS after- tax) • Percentage of total loans at March 31, 2017:  Energy loans equal 3.7%  Indirect Auto loans equal 0.7%  Multi-Family loans equal 2.7%  Construction and Land loans equal 6.9% (50% of Total Risk Based Capital*)  Non-Owner Occupied CRE equals 28% (202% of Total Risk Based Capital*) Highlights Risk Off Trend (Period-End) Dollars in millions +$2 mm, +1% ($21) mm, -16% ($25) mm, -2% Linked Qtr Change * Preliminary; based on bank-level capital Expectations that risk trade will level off and reverse over time: • Only $110 million in indirect automobile loans remaining • Reengaged energy lending efforts with new high quality E&P and Midstream credits; energy loans outstanding increased in 1Q17 • Due to favorable portfolio performance, reversed some tightened consumer credit underwriting standards in markets impacted by energy price declines

14 Continued Resolution of Energy Portfolio Highlights Energy Loan Portfolio Asset Quality Declining Energy Loan Balances Energy-Related Criticized Assets • Energy-related loans, up $2 million, or 0.4%, compared to 12/31/16 • Energy-related loans equated to 3.7% of total loans, unchanged compared to year- end 2016 • 79% of energy-related loan balances on non- accrual remain current with their payments • Classified energy-related loans decreased $55.0 million, or 23%; equated to 32% of energy loans • Criticized energy-related loans decreased $69.6 million, or 22%; equated to 44% of energy loans • Energy-related non-accrual loans declined $37 million to $113 million, or 20% of the energy portfolio • Energy provision reversal of $0.3 million as credit conditions improved in the quarter; $2.8 million energy net charge-offs • Allowance for energy-related loans of $20 million; equal to 3.6% of the energy-related loans outstanding. E&P: $66mm Dollars in millions Services: $47mm Midstream: $0mm

15 Credit Quality Trends Energy And Non-Energy Asset Quality $Mill. %Loans $Mill. %Loans $Mill. %Loans $Mill. % Loans $Mill. %Loans Loans Outstandings Energy 662 4.5% 600 4.0% 561 3.7% 564 3.7% 2 0% Non-Energy 14,061 95.5% 14,325 96.0% 14,504 96.3% 14,569 96.3% 65 0% Total 14,723$ 100.0% 14,924$ 100.0% 15,065$ 100.0% 15,132$ 100.0% 67$ 0% Net Charge-Offs Energy 8 4.44% 7 4.39% 1 1.02% 3 2.05% 1 92% Non-Energy 4 0.12% 3 0.09% 6 0.17% 3 0.09% (3) -48% Total 12$ 0.33% 10$ 0.28% 8$ 0.21% 6$ 0.16% (2)$ -21% Provision 12$ 12$ 5$ 6$ 1$ 19% Reserve Build (0) 2 (2) 0 3$ -104% Coverage Ratio 100% 122% 68% 102% Allowance For Loan Losses Energy 33 4.99% 28 4.71% 23 4.01% 20 3.57% (2) -11% Non-Energy 114 0.81% 120 0.84% 122 0.84% 125 0.86% 3 2% Total 147$ 1.00% 148$ 0.99% 145$ 0.96% 145$ 0.96% 0$ 0% Loans 30-89 Days Past Due Energy 3 0.46% - 0.00% 2 0.27% 0 0.03% (1) n.m. Non-Energy 48 0.34% 45 0.32% 27 0.19% 36 0.25% 9 32% Total 51$ 0.34% 45$ 0.30% 29$ 0.20% 36$ 0.24% 7$ 25% NPAs: %Assets %Assets %Assets %Assets Energy 61 9.19% 154 25.62% 150 26.79% 115 20.47% (35) -23% Non-Energy 69 0.35% 109 0.53% 101 0.48% 105 0.49% 4 3% Total 130$ 0.64% 263$ 1.26% 251$ 1.16% 220$ 1.00% (31)$ -13% 3Q16 4Q16 1Q17 Linked Qtr. Chg.2Q16

16 Continued Strong Credit Results Highlights NPAs To Total Assets Non-Energy-Related NPAs • Continued workout of acquired portfolios • Legacy loans increased $229 million, or 2%, since 12/31/16 • Legacy NPAs/Assets equal to 0.99%, a decrease of 21 basis points on a linked-quarter basis • Legacy loans past due 30 days or more (excluding non- accruals) increased $7 million, or 30%, and equated to 0.25% of total legacy loans at March 31, 2017 • Annualized legacy net charge-offs equal to 0.20% of average legacy loans in 1Q17, compared to 0.24% in 4Q16 • Non-energy NPAs were 0.49% of total non-energy assets Dollars in millions Source: SNL Financial – Publicly Traded Bank Holding Companies With Total Assets Between $10 - $30 Billion • No significant concerns regarding retail-related CRE exposure • No exposure to public REITs; No loans secured by traditional enclosed malls • Only six commitments over $20 million with a maximum of $35 21% of portfolio has outstanding balances below $2 million • 85% have guarantor support • Weighted average LTV of 57% • Approximately one-third of retailer exposure is to centers anchored by grocery stores or drug stores Retailer-Related CRE Exposure

Acquisition of Sabadell United Bank FOCUSED “That’s been one of my mantras — focus and simplicity.” — Steven Jobs (1955-2011)

18 Source: SNL Financial Experienced Acquirer and Integrator

19 Our Most Recent Acquisition – Sabadell United Bank (Pending) • Comprehensive due diligence completed over the last two months • Announced acquisition on February 28th and anticipate closing in the second half of 2017 • Acquisition funding was completed – raised common stock in December 2016 and March 2017 • Aggregate consideration of $1.025 billion - approximately 78%/22% cash/stock split • Effectively 98% of the financing was completed using IBKC common stock in two tranches • Retention of key Sabadell United management to drive business forward Sabadell United Bank Strategic & Financial Rationale • Subsidiary of Banco de Sabadell, though an amalgamation of acquired domestic banks • Total assets of $5.8 billion; 23 offices in Greater Miami area and 3 in other Florida markets • Primarily commercial and private banking franchise (serving professionals and high net worth) • Outstanding asset quality, strong core deposit base, and improving financial performance • Asset-sensitive balance sheet during a period of rising interest rates • Very small exposure to condo developers and foreign nationals • Robust and well-respected BSA-AML program and outstanding CRA rating Transaction Overview • Miami-Dade County fills out our presence in Greater Miami market • Largest MSA in Florida, third largest in the Southeast, and 8th largest in the U.S. • Excellent sub-market coverage and half of branches have $100+ million deposits per branch • Strong strategic fit – loan and deposit growth, quality underwriting, client focus, core funding • Attractive financial metrics – EPS accretion, IRR, minimal TBVS dilution, short TBVS earn-back • Favorable competitive dynamics in the Miami market

20 Key Transaction Terms • $1,025 million total consideration to Banco de Sabadell, S.A. (“Banco Sabadell”) • Implied pricing multiples: • 1.95x Sabadell United's 12/31/16 tangible book value • 21.1x Sabadell United's 2016 net income 16.8x Sabadell United's 2016 net income including synergies1 • 12% Deposit premium Consideration / Pricing IBKC Financing / Capital • The transaction is funded predominately through IBKC common stock: Transaction Approvals / Closing • This transaction has been approved by the Boards of Directors of both companies • No shareholder vote is required for either party • Subject to customary regulatory approvals • Expect to close the transaction in the second half of 2017 (1) Assumes $21 million of fully phased-in synergies (pre-tax). (2) December capital raise use of proceeds included financing possible acquisitions. (3) Base deal size; does not adjust for transaction fees or 10% greenshoe option. Financing / Capital Sources $ million December 2016 Public Common Stock Issuance2 280 March 2017 Public Common Stock Issuance3 500 New Common Stock Issuance to Banco Sabadell 222 Cash 23 1,025 98% IBKC stock 2% cash

21 Estimated Pro Forma Financial Impact • Approximately 19%IRR5 EPS Impact2 • Approximately 6% accretive to consensus 2018 EPS • Approximately 10% accretive to consensus 2019 EPS TBVPS Impact3 • Pre December 2016 common raise4: Approximately 2% dilutive with 3.5 year earn-back (crossover method) • Post December 2016 common raise: Approximately 8% dilutive with 4.5 year earn-back (crossover method) Note: Includes $500 million capital raised at IBERIABANK Corporation's common stock price of $85.35 / share as of February 24, 2017 (1) Based on December 31, 2016 numbers. (2) Reflects full run-rate synergies. (3) Including restructuring charges incurred over 12 months from close. Tangible book value per share equals book value per share minus the effect of intangibles. (4) TBVPS dilution excluding accretive effect of December 2016 capital raise compares pro forma tangible book value per share to standalone tangible book value per share excluding tangible book value attributable to IBERIABANK’s December 2016 capital raise. Crossover method earn-back excluding accretive effect of December 2016 capital raise compares pro forma projected tangible book value per share to standalone projected tangible book value per share and excludes accretive effect of December 2016 capital raise in standalone projected tangible book value per share. (5) Our calculation of the Company’s anticipated internal rate of return, like calculations of internal rates of return for transactions generally, is a non-GAAP measure that does not have a direct analogy under generally accepted accounting principles. Generally described, we calculated the Company’s anticipated internal rate of return for the Sabadell United acquisition by calculating the discount rate that would set the net present value of the Sabadell United acquisition’s incremental time-weighted cash flows to zero. • $27.6 billion in Total Assets • $21.8 billion in Total Deposits • $19.1 billion in Net Loans • 9.7% Tier 1 Leverage • 12.5% Total Risk-Based Capital Ratio Balance Sheet & Capital1

APPENDIX

23 Louisiana And Texas MSAs Our Other MSAs Local Market Conditions – MSA Unemployment Trends • Prior to 2014, nearly all unemployment rates below national average • Louisiana markets exhibit seasonality (December peaks) • Recent improvements in many Louisiana markets • Houston and Dallas in downward tandem until year-end 2014 • Recently, Houston’s unemployment declined • Many markets are near national average in magnitude and trend • Most MSAs have exhibited an improvement in unemployment rates, though some Alabama markets have shown some deterioration beginning in the summer of 2016 • Unemployment in Mobile remains at elevated level • Lowest unemployment rates in the Arkansas MSAs

24 Total Loans Strong Market Growth And Diversification • 1Q17 loan growth in 59% of our markets • Acadiana and Houston account for 9% and 8% of total loans, respectively • Strongest 1Q17 market loan growth in:  Atlanta  Tampa  Mobile  Orlando, and  Southeast Florida Total Deposits • Indirect and Texas energy deposits account for only 2% of total deposits • Florida, Acadiana, and New Orleans account for over half of deposits • Deposit growth in 60% of our markets in 1Q17 • Strongest 1Q17 market deposit growth in:  New Orleans  Southwest Louisiana  Mobile  Birmingham, and  Little Rock

25 Seasonal Influences Legacy Loan Growth • Loan growth typically softer in first quarter, stronger in second quarter and somewhat slower in the third quarter • Mortgage and title income typically are softer in fourth and first quarters and stronger in second and third quarters • Payroll taxes and retirement contributions decrease ratably throughout the year Dollars in millions Seasonal Revenue Trends Seasonal Expense Trends

26 Non-Interest Income And Expense Trend Details Dollars in millions Non-interest Income ($ millions) 1Q16 2Q 16 3Q 16 4Q 16 1Q 17 $ Change % Change Service Charges on Deposit Accounts 11.0$ 10.9$ 11.1$ 11.2$ 11.2$ -$ 0% ATM / Debit Card Fee Income 3.5 3.6 3.5 3.6 3.6 - 0% BOLI Proceeds and CSV Income 1.2 1.4 1.3 1.3 1.3 - 0% Mortgage Income 19.9 26.0 21.8 16.1 14.1 (2.0) -12% Title Revenue 4.7 6.1 6.0 5.3 4.7 (0.6) -11% Broker Commissions 3.8 3.7 3.8 4.0 2.7 (1.3) -32% Other Non-interest Income 11.5 11.3 12.3 11.7 9.7 (2.0) -17% Non-interest income excluding non-core income 55.6$ 63.0$ 59.8$ 53.2$ 47.3$ (5.9)$ -11% Gain (Loss) on Sale of Investments, Net 0.2 1.8 - - - - 0% Other Non-core income - - - - - - 0% Total Non-interest Income 55.8$ 64.8$ 59.8$ 53.2$ 47.3$ (5.9)$ -11% Non-interest Expense ($ millions) 1Q16 2Q 16 3Q 16 4Q 16 1Q 17 $ Change % Change Mortgage Commissions 4.6$ 7.3$ 6.9$ 5.2$ 3.3$ (1.9)$ -36% Hospitalization Expense 5.6 5.3 6.6 3.9 5.9 2.0 51% Other Salaries and Benefits 70.1 72.3 71.5 71.6 72.7 1.1 2% Salaries and Employee Benefits 80.3$ 85.0$ 85.0$ 80.7$ 81.9$ 1.2$ 1% Credit/Loan Related 2.7 2.9 1.9 3.4 4.5 1.1 33% Occupancy and Equipment 16.9 16.8 16.5 15.6 16.0 0.4 3% Amortization of Acquisition Intangibles 2.1 2.1 2.1 2.1 1.8 (0.3) -15% All Other Non-interest Expense 32.9 32.7 32.5 31.8 35.2 3.4 11% Nonint. Exp. (Ex-Non-Core Exp.) 134.9$ 139.4$ 138.1$ 133.6$ 139.4$ 5.8$ 4% Severance 0.5 0.1 - 0.2 0.1 (0.1) -48% Impairment of Long-lived Assets, net of gains on sales 1.0 (1.3) - (0.5) 1.4 1.9 409% Loss on early termination of loss share agreements - - - 17.8 - (17.8) -100% Consulting and Professional - 0.6 - - - - 0% Other Non-interest Expense 1.1 0.6 - 0.5 - (0.5) -100% Merger-Related Expenses - - - - 0.1 0.1 100% Total Non-interest Expense 137.5$ 139.5$ 138.1$ 151.6$ 141.0$ (10.6)$ -7% Tangible Efficiency Ratio - excl Non-Core-Exp 60.3% 60.0% 60.1% 60.3% 61.6% 1Q17 vs. 4Q16 1Q17 vs. 4Q16

27 GAAP And 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 Dollars in millions Balances, As Reported Adjustments As Adjusted Non-GAAP 1Q16 Average Balance 17,873$ 86$ 17,959$ Income 161.4$ (6.5)$ 154.9$ Rate 3.68% -0.17% 3.51% 2Q16 Average Balance 18,155$ 84$ 18,239$ Income 162.8$ (8.6)$ 154.2$ Rate 3.65% -0.21% 3.44% 3Q16 Average Balance 18,521$ 77$ 18,598$ Income 163.4$ (9.1)$ 154.3$ Rate 3.56% -0.21% 3.35% 4Q16 Average Balance 19,349$ 73$ 19,422$ Income 161.7$ (8.4)$ 153.3$ Rate 3.38% -0.19% 3.19% 1Q17 Average Balance 20,085$ 87$ 20,172$ Income 172.8$ (10.7)$ 162.1$ Rate 3.53% 0.23% 3.30%

28 Strong Capital Position • On May 4, 2016, the Company’s Board of Directors of the Company authorized the repurchase of up to 950,000 common shares • To date, 202,506 common shares were purchased at a weighted average price of $57.61 per common share • During 1Q17, the Company did not repurchase any shares of its common stock Highlights Impact Of Recent Capital Raises On Capital Ratios At March 31, 2017 Capital Ratios (Preliminary) Share Repurchase Program • In 3Q15, issued and sold preferred stock with gross proceeds of $80 million; pays cash dividends semi-annually • In 2Q16, issued and sold preferred stock with gross proceeds of $57.5 million; pays cash dividends quarterly • In 4Q16, issued and sold 3.6 million shares of common stock at a price of $81.50 per common share, with net proceeds of $279 million • In 1Q17, issued and sold 6.1 million shares of common stock at a price of $83.00 per common share, with net proceeds of $485 million • Common stock cost $0.11 negative impact to 1Q17 EPS IBERIABANK Corporation 4Q16 1Q17 Change Common Equity Tier 1 (CET1) ratio 11.84% 14.64% 280 bps Tier 1 Leverage 10.86% 12.91% 205 bps Tier 1 Risk-Based 12.59% 15.38% 279 bps Total Risk-Based 14.13% 16.92% 279 bps IBERIABANK and Subsidiaries 4Q16 1Q17 Change Common Equity Tier 1 (CET1) ratio 10.67% 10.88% 21 bps Tier 1 Leverage 9.21% 9.13% -8 bps Tier 1 Risk-Based 10.67% 10.88% 21 bps Total Risk-Based 11.56% 11.77% 21 bps Capital Raise Date Gross Value ($MMs) Net Value ($MMs) Number of Shares (MMs) Tier 1 Leverage CET1 Total RBC 3Q15 Preferred Raise 7/28/2015 $80.0 $76.8 3.2 0.36% 0.00% 0.43% 2Q16 Preferred Raise 5/3/2016 $57.5 $55.3 2.3 0.26% 0.00% 0.31% 4Q16 Common Raise 12/2/2016 $292.9 $279.2 3.6 1.32% 1.57% 1.57% 1Q17 Common Raise 2/28/2017 $506.3 $485.2 6.1 2.29% 2.73% 2.73% Basis Points Impact

29 Pre-tax After-tax (2) Per share Pre-tax After-tax (2) Per share Pre-tax After-tax (2) Per share Net Income available to common shareholders (GAAP) 72.6$ 44.5$ 1.08$ 58.2$ 44.2$ 1.04$ 73.0$ 46.9$ 1.00$ Non-interest income adjustments Gain on sale of investments and other non-interest incom (0.0) (0.0) (0.00) (0.0) (0.0) (0.00) (0.0) - (0.00) Non-interest expense adjustments Merger-related expenses - - - - - - 0.1 0.0 0.00 Severance expenses - - - 0.2 0.1 0.00 0.1 0.1 0.00 Impairment of long-lived assets, net of (gain) loss on sale - - - (0.5) (0.3) (0.01) 1.4 0.9 0.02 Loss on early termination of loss share agreements - - - 17.8 11.6 0.28 - - - Other non-operating non-interest expense - - - 0.5 0.3 0.01 - - - Total non-interest expense adjustments - - - 18.0 11.7 0.28 1.6 1.0 0.02 Income tax benefits - - - - (6.8) (0.16) - - - Core earnings (Non-GAAP) 72.6 44.5 1.08 76.2 49.0 1.16 74.6 47.9 1.02 Provision for loan losses 12.5 8.1 0.20 5.2 3.4 0.08 6.2 4.0 0.09 Pre-provision core earnings (Non-GAAP) 85.1$ 52.6$ 1.28 81.3$ 52.4$ 1.24 80.7$ 51.9$ 1.11 (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 September 30, 2016 December 31, 2016 March 31, 2017 Dollar Amount Dollar Amount Dollar Amount Reconciliation Of Non-GAAP Financial Measures • No material non-core income in 1Q17 • Non-core expenses equal to $1.6 million pre-tax, or $0.02 EPS after-tax Dollars in millions