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 25, 2019

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. ¨

Item 2.02 Results of Operations and Financial Condition

Item 7.01 Regulation FD Disclosure

On April 25, 2019, the Registrant announced its results of operations for the three months ended March 31, 2019. 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 first quarter results dated April 25, 2019, 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 25, 2019	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 25, 2019, issued by the Registrant.
99.2	Supplemental Materials to conference call.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

April 25, 2019

Contact:

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

Jefferson G. Parker, Vice Chairman, Director of Capital Markets, Energy Lending and Investor Relations (504) 310-7314

IBERIABANK Corporation Reports First Quarter Results

LAFAYETTE, LOUISIANA -- IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 132-year-old IBERIABANK (www.iberiabank.com), reported financial results for the first quarter ended March 31, 2019. For the quarter, the Company reported net income available to common shareholders of $96.5 million, or $1.75 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 2019 was $1.72 per common share, compared to $1.37 in the year-ago period, an increase of 26% (refer to press release supplemental tables for a reconciliation of GAAP to non-GAAP metrics).

Daryl G. Byrd, President and Chief Executive Officer, commented, “We are pleased to report another quarter of solid earnings and a very good start to 2019. Our results for the quarter reflect outstanding growth in loans, improvement in fee income, and continued reduction of non-interest expense. We had a lower net interest margin than we anticipated, which I expect to improve in future quarters. We believe the foundation laid in 2018 and in the first quarter sets us up well to deliver strong results in 2019.”

Highlights for the first quarter of 2019 and at March 31, 2019:

	For the three months ended
	GAAP						Non-GAAP Core
	1Q19			4Q18			1Q19			4Q18
Earnings Per Common Share	$	1.75		$	2.32		$	1.72		$	1.86
Return on Average Assets	1.32		%	1.70		%	1.29		%	1.37		%
Return on Average Common Equity	9.85		%	13.38		%	9.66		%	10.75		%
Return on Average Tangible Common Equity	N/A			N/A			15.03		%	16.98		%
Efficiency Ratio	52.4		%	63.5		%	53.2		%	52.6		%
Tangible Efficiency Ratio (TE)	N/A			N/A			51.3		%	50.7		%

• Strong 1Q19 for both GAAP and Core EPS, improving 59% and 26%, respectively on a year-over-year basis, as a result of excellent loan growth, non-interest income, and continued expense management.

• Total loan growth of $448.5 million, or 8% annualized. Loan growth was driven by strong originations and loan prepayments slowing.

• The Company's reported and cash net interest margins decreased 22 and 10 basis points on a linked quarter basis, to 3.59% and 3.42%, respectively. The decline in margin was primarily driven by lower recoveries as expected and higher cost of funding. Funding costs increased as the Company realized seasonal declines in lower cost deposits and strong loan growth primarily funded with wholesale funding sources.

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• Strong growth in non-interest income influenced by the current yield curve.

• Mortgage income increased $1.5 million, or 14% on a linked quarter basis and 23% as compared to 1Q18.

• The Company realized record swap income of $4.2 million, up 124% on a linked quarter basis.

• The linked quarter increase of $51.5 million was primarily driven by $49.8 million in losses on sales of available securities that occurred during 4Q18.

• Continued focus on non-interest expense which decreased $10.2 million, or 6% on a linked quarter basis. Core non-interest expense declined $5.1 million, or 3%, from 4Q18.

• Year-over-year reduced FTEs by 342, or almost 10%, including employees from the Gibraltar acquisition.

• Produced the lowest quarterly level of non-interest expense to average assets over the past 15 years.

• Continued improvement in operating leverage.

• Credit metrics remained strong and stable. The provision expense rose slightly from the prior quarter to provide adequate reserve coverage of strong loan growth. We see no signs of deterioration in the portfolio.

• During 1Q19, the Company repurchased 387,921 common shares at a weighted average price of $77.19 per common share.

• On March 19, 2019, the Company announced a first quarter cash dividend equal to $0.43 per common share, payable on April 26, 2019. This equated to a 5% increase to the 4Q18 dividend.

Special Items

• On April 4, 2019, the Company issued and sold 4.0 million depositary shares, each representing 1/400th interest in a share of non-cumulative perpetual preferred stock. The Series D preferred stock has an initial coupon equal to 6.100% for a period of five years, and thereafter floats at a rate of LIBOR plus 385.9 basis points. The Company raised approximately $100.0 million in gross proceeds from the transaction. Proceeds from the transaction are currently expected to be used for repurchases of common stock. This re-stacking of capital is expected to provide a few incremental pennies of EPS and enhance the Company's ROTCE by approximately 50 basis points in 2020, based on IBKC's current stock price. The impact of this offering will be immaterial on 2019 earnings.

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Table A - Summary Financial Results
(Dollars in thousands, except per share data)
	For the Three Months Ended
	3/31/2019			12/31/2018			% Change		3/31/2018			% Change
GAAP BASIS:
Income available to common shareholders	$	96,533		$	129,090		(25.2	)	$	60,023		60.8
Earnings per common share - diluted	1.75			2.32			(24.6	)	1.10			59.1
Average loans and leases, net of unearned income	$	22,599,686		$	22,364,188		1.1		$	20,181,390		12.0
Average total deposits	23,678,400			23,484,576			0.8		21,777,634			8.7
Net interest margin (TE) (1)	3.59		%	3.81		%			3.67		%
Total revenues	$	302,993		$	265,990		13.9		$	277,455		9.2
Total non-interest expense	158,753			168,989			(6.1	)	188,071			(15.6	)
Efficiency ratio	52.4		%	63.5		%			67.8		%
Return on average assets	1.32			1.70					0.92
Return on average common equity	9.85			13.38					6.79
NON-GAAP BASIS (2):
Core revenues	$	302,993		$	316,249		(4.2	)	$	277,514		9.2
Core non-interest expense	161,239			166,379			(3.1	)	169,232			(4.7	)
Core earnings per common share - diluted	1.72			1.86			(7.5	)	1.37			25.5
Core tangible efficiency ratio (TE) (1) (3)	51.3		%	50.7		%			58.8		%
Core return on average assets	1.29			1.37					1.13
Core return on average common equity	9.66			10.75					8.45
Core return on average tangible common equity	15.03			16.98					13.83
Net interest margin (TE) - cash basis (1)	3.42			3.52					3.42
(1)  Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2)  See Table 7 and Table 8 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.

Operating Results

Net interest income decreased$14.5 million, or 5%, on a linked quarter basis. Average loans increased$235.5 million, or 4% annualized, while the associated taxable-equivalent yield decreased15 basis points. The yield on total earning assets was 6 basis points lower at 4.68% compared to 4.74% in the prior quarter. The decline in loan yield was primarily driven by lower recoveries in the acquired loan portfolio.

Average interest-bearing deposits increased $568.6 million, or 14% annualized, and the cost of interest-bearing deposits rose 17 basis points to 1.40% on a linked quarter basis. Total average interest-bearing liabilities increased by $766.3 million, or 16% annualized, and the cost of interest-bearing liabilities rose 19 basis points to 1.53%. The total cost of funding in the first quarter of 2019 was 1.17%, compared to 1.00% in the prior quarter. The increase in cost of funds was primarily due to an unfavorable funding

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balance mix shift from lower cost deposits to wholesale borrowings, an upward repricing of remaining deposits, promotional activity in customer time deposits, and brokered wholesale CD issuances. The lower loan yields, along with the increase in cost of funds, resulted in a decrease in the reported and cash net interest margins of 22 and 10 basis points to 3.59% and 3.42%, respectively.

The provision for credit losses totaled $13.8 million compared to $13.1 million in the prior quarter. Asset quality measures remained strong and stable. Net charge-offs to average loans on an annualized basis were 0.13% compared to 0.14% in the prior quarter. Non-performing assets to total assets were 0.58% compared to 0.55% in the prior quarter. The allowance for loan and lease losses to total loans and leases remained unchanged at 0.62% and covered 94% of non-performing loans.  

Non-interest income increased $51.5 million, primarily driven by $49.8 million in losses realized on sales of available-for-sale securities during the prior quarter. On a core basis, non-interest income increased $1.3 million, or 2%, driven by higher customer swap commissions of $2.3 million and higher mortgage income of $1.0 million. These increases were partially offset primarily by decreases of $0.8 million in title revenue and $0.6 million in service charges on deposit accounts.

Non-interest expense decreased $10.2 million, or 6%, compared to the linked quarter, primarily driven by a $4.2 million decrease in professional service expenses, a $3.3 million decrease in salaries and employee benefits expenses, and a $1.9 million decrease in credit and other loan related expenses. Non-core expense items resulted in a $2.5 million reduction in GAAP non-interest expense, primarily from interest related to tax refunds received. Refer to Tables 7 and 8 for GAAP to Non-GAAP reconciliations.

Income tax expense increased $76.5 million to $30.3 million when compared to the prior quarter. This increase was primarily attributable to the $65.3 million, non-core, permanent net tax benefit that was recorded in the fourth quarter of 2018 which resulted in a $46.1 million income tax benefit.

On a linked quarter basis, the efficiency ratio improved to 52.4% from 63.5%, primarily due to a decrease in non-interest expense, while the non-GAAP core tangible efficiency ratio was relatively unchanged at 51.3% compared to 50.7%. First quarter operating results reflect a continued focus on expense discipline and revenue enhancement efforts. Refer to Table A for a summary of financial results on both a GAAP and non-GAAP basis.

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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
		3/31/2019			12/31/2018			% Change	3/31/2018			% Change
PERIOD-END BALANCES:
	Total loans and leases, net of unearned income	$	22,968,295		$	22,519,815		2.0	$	21,706,090		5.8
	Total deposits	24,092,062			23,763,431			1.4	22,971,192			4.9
ASSET QUALITY RATIOS:
	Loans 30-89 days past due and still accruing as a percentage of total loans (1)	0.20		%	0.25		%		0.36		%
	Loans 90 days or more past due and still accruing as a percentage of total loans (1)	0.02			0.01				0.04
	Non-performing assets to total assets (1)(2)	0.58			0.55				0.64
	Classified assets to total assets (3)	1.01			0.98				1.49
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (4) (5)	9.01		%	8.84		%		8.66		%
	Tier 1 leverage ratio (6)	9.67			9.63				9.97
	Total risk-based capital ratio (6)	12.33			12.33				12.48
PER COMMON SHARE DATA:
	Book value	$	73.50		$	71.61		2.6	$	66.38		10.7
	Tangible book value (Non-GAAP) (4) (5)	49.48			47.61			3.9	42.91			15.3
	Closing stock price	71.71			64.28			11.6	78.00			(8.1	)
	Cash dividends	0.43			0.41			4.9	0.38			13.2
(1)	Past due and non-accrual loan amounts 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.
(2)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets. Refer to Table 4 for further detail.
(3)	Classified assets include commercial loans rated substandard or worse, non-performing mortgage and consumer loans, and OREO and foreclosed property and include acquired impaired loans accounted for under ASC 310-30. Classified assets were $315 million, $302 million and $439 million at March 31, 2019, December 31, 2018, and March 31, 2018, respectively.
(4)	See Table 7 and Table 8 for GAAP to Non-GAAP reconciliations.
(5)	Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.
(6)	Regulatory capital ratios as of March 31, 2019 are preliminary.

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Loans and Other Assets

Total loans increased $448.5 million, or 8% annualized, to $23.0 billion at March 31, 2019. Period-end loan growth during the first quarter of 2019 was strongest in the Energy Group (primarily reserve-based lending), the Corporate Asset Finance Group (equipment financing business), and the Atlanta, South Florida Commercial, and Dallas markets. The Company believes it is well-positioned for diversified loan growth based on our strategic presence in significant MSAs in the Southeastern United States.

Table C - Period-End Loans
(Dollars in thousands)
	As of and For the Three Months Ended
								Linked Qtr Change						Year/Year Change				Mix
	3/31/2019			12/31/2018		3/31/2018		$		%		Annualized		$		%		3/31/2019		12/31/2018
Legacy loans:
Commercial loans and leases	$	13,047,438		$	12,396,515	$	11,094,464	650,923		5.3		21.3	%	1,952,974		17.6		73.8	%	73.2	%
Residential mortgage loans	2,172,421			2,023,760		1,280,580		148,661		7.3		29.8	%	891,841		69.6		12.3	%	11.9	%
Consumer and other loans	2,463,370			2,529,705		2,538,878		(66,335	)	(2.6	)	(10.6	)%	(75,508	)	(3.0	)	13.9	%	14.9	%
Total legacy loans	17,683,229			16,949,980		14,913,922		733,249		4.3		17.5	%	2,769,307		18.6		100.0	%	100.0	%
Acquired loans:
Balance at beginning of period	5,569,835			5,992,144		5,595,030		(422,309	)	(7.0	)			(25,195	)	(0.5	)
Loans acquired during the period	—			—		1,465,319		—		—				(1,465,319	)	(100.0	)
Net paydown activity	(284,769		)	(422,309)		(268,181)		137,540		(32.6	)			(16,588	)	6.2
Total acquired loans	5,285,066			5,569,835		6,792,168		(284,769	)	(5.1	)			(1,507,102	)	(22.2	)
Total loans	$	22,968,295		$	22,519,815	$	21,706,090	448,480		2.0				1,262,205		5.8

On an average balance and linked quarter basis, the investment portfolio increased $240.6 million, or 20% annualized, to $5.0 billion, mainly due to purchases of available-for-sale securities and favorable fair value adjustments. On a period-end basis, investment securities were $5.1 billion, or 16% of total assets. Approximately 96% of the investment portfolio is in available-for-sale securities, which experience unrealized losses as interest rates rise. The investment portfolio had an effective duration of 3.0 years at March 31, 2019, down from 3.4 years at December 31, 2018, and a $6.0 million unrealized loss at March 31, 2019, down from a $62.9 million loss at December 31, 2018. The average yield on investment securities increased 29 basis points to 2.90% in the first quarter of 2019. The investment portfolio primarily consists of government agency securities. Municipal securities comprised 7% of total investments at March 31, 2019.

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Deposits and Funding

Total deposits increased $328.6 million, or 6% annualized, to $24.1 billion at March 31, 2019. First quarter deposit growth included a $270 million increase in brokered and reciprocal deposits. Deposit growth during the first quarter of 2019 was strongest in the Miami-Dade, Southwest Louisiana, and Palm Beach/Broward markets.

Table D - Period-End Deposits
(Dollars in thousands)
							Linked Qtr Change						Year/Year Change				Mix
	3/31/2019		12/31/2018		3/31/2018		$		%		Annualized		$		%		3/31/2019		12/31/2018
Non-interest-bearing	$	6,448,613	$	6,542,490	$	6,595,495	(93,877	)	(1.4	)	(5.8	)%	(146,882	)	(2.2	)	26.8	%	27.5	%
NOW accounts	4,452,966		4,514,113		4,500,181		(61,147	)	(1.4	)	(5.5	)%	(47,215	)	(1.0	)	18.5	%	19.0	%
Money market accounts	8,348,509		8,237,291		8,271,969		111,218		1.4		5.5	%	76,540		0.9		34.6	%	34.7	%
Savings accounts	770,754		828,914		874,741		(58,160	)	(7.0	)	(28.5	)%	(103,987	)	(11.9	)	3.2	%	3.5	%
Time deposits	4,071,220		3,640,623		2,728,806		430,597		11.8		48.0	%	1,342,414		49.2		16.9	%	15.3	%
Total deposits	$	24,092,062	$	23,763,431	$	22,971,192	328,631		1.4		5.6	%	1,120,870		4.9		100.0	%	100.0	%

Asset Quality

Credit quality remained strong and stable. Non-performing assets to total assets were 0.58% at March 31, 2019, compared to 0.55% in the prior quarter. Loans 30-89 days past due and still accruing decreased $12.0 million, or 21%, compared to the prior quarter and represented 0.20% of total loans and leases, compared to 0.25% in the prior quarter. As a percentage of average loans and leases, annualized net charge-offs were 0.13%, down one basis point compared to the prior quarter.

The allowance for loan and lease losses was $143.0 million, up $2.4 million compared to the prior quarter. As of March 31, 2019, the allowance for loan and lease losses was 0.62% of total loans and leases, unchanged compared to December 31, 2018. The allowance for loan and lease losses covered non-performing loans by 94% compared to 101% in the prior quarter.

Refer to Table 4 - Loans and Asset Quality Data for further information.

Capital Position

At March 31, 2019, the non-GAAP tangible common equity ratio was 9.01%, up 17 basis points compared to December 31, 2018, and the preliminary Tier 1 leverage ratio was 9.67%, up 4 basis points compared to December 31, 2018. The preliminary calculation of the total risk-based capital ratio at March 31, 2019, was 12.33%, flat compared to December 31, 2018.

At March 31, 2019, book value per common share was $73.50, up $1.89 per share, compared to December 31, 2018. Tangible book value per common share was $49.48, up $1.87 per share, compared to December 31, 2018. Based on the closing stock price of the Company’s common stock of $77.14 per share on April 24, 2019, this price equated to 1.05 times March 31, 2019 book value per common share and 1.56 times March 31, 2019 tangible book value per common share.

Dividends On Capital Stock. The declaration of dividends is at the discretion of the Board of Directors. The following details the recent dividend declarations:

Common Stock. On March 19, 2019, the Company declared a quarterly cash dividend of $0.43 per common share, a 5% increase to the common dividend declared on January 25, 2019. This dividend is payable on April 26, 2019, to shareholders of record as of March 29, 2019.

Preferred Stock. On April 11, 2019, the Company declared a quarterly cash dividend of $0.4125 per depositary share of Series C Preferred Stock that is payable on May 1, 2019 to shareholders of record as of April 21, 2019.

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On April 4, 2019, the Company sold 4.0 million depositary shares, each representing 1/400th interest in a share of non-cumulative perpetual preferred stock. The Series D preferred stock has an initial coupon equal to 6.100% for a period of five years, and thereafter floats at a rate of LIBOR plus 385.9 basis points. The Company raised approximately $100.0 million in gross proceeds from the transaction.

Common Stock Repurchase Program. On November 5, 2018, the Board of Directors authorized a new repurchase plan of up to 2,765,000 shares of the Company's common stock. This repurchase authorization equated to approximately 5% of total common shares outstanding. Stock repurchases under this program will be made from time to time, on the open market or in privately negotiated transactions at the discretion of the management of the Company. The timing of these repurchases will depend on market conditions and other requirements. The Company currently anticipates the share repurchase program will extend over a two-year time frame, or earlier if the shares have been repurchased. During the first quarter of 2019, the Company repurchased 387,921 common shares, at a weighted average price of $77.19 per common share. At March 31, 2019, the Company had approximately 1,877,079 remaining shares that may be repurchased under the current Board-approved plan.

2019 Financial Guidance

2019 Guidance
Average Earning Assets	$28.6B ~ $28.9B
Consolidated Loan Growth	5% ~ 7%
Consolidated Deposit Growth	5% ~ 7%
Provision Expense	$45MM ~ $50MM
Non-Interest Income (Core Basis)	$215MM ~ $225MM
Non-Interest Expense (Core Basis)	$675MM ~ $690MM
Net Interest Margin	3.55% ~ 3.65%
Tax Rate	23.0% ~ 24.0%
Preferred Dividend	$17.0MM ~ $18.0MM
Share Repurchase Activity	$230MM ~ $240MM
Credit Quality	Stable

• Updated guidance includes no interest rate increases in 2019 and interest rate curve as of March 31, 2019.

• Preferred Dividend range increases to reflect new Series D preferred dividends.

• We expect to buy common shares with the proceeds of our recent preferred stock offering, which is included in the guide.

IBERIABANK Corporation

IBERIABANK Corporation is a financial holding company with locations in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services.

The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC”. The Company's Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock also trade on the NASDAQ Global Select Market under the symbols "IBKCP", "IBKCO", and "IBKCN", respectively. The Company’s common stock market capitalization was approximately $4.2 billion, based on the NASDAQ Global Select Market closing stock price on April 24, 2019.

The following 10 investment firms currently provide equity research coverage on the Company:

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• Bank of America Merrill Lynch

• FIG Partners, LLC

• Hovde Group, LLC

• Jefferies & Co., Inc.

• Keefe, Bruyette & Woods, Inc.

• Piper Jaffray & Co.

• Raymond James & Associates, Inc.

• 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 Thursday, April 25, 2019, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003. The confirmation code for the call is 6428111. A replay of the call will be available until midnight Central Time on May 2, 2019, by dialing 1-877-344-7529. The confirmation code for the replay is 10128769. 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 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, debt repayment penalties, and gains, losses, and impairment charges on long-lived assets. 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, 2018, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website, www.sec.gov, and the Company's website, 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,"

9

"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. 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:		3/31/2019			12/31/2018			% Change		3/31/2018			% Change
	Net interest income	$	250,484		$	265,021		(5.5	)	$	232,889		7.6
	Net interest income (TE) (1)	251,833			266,448			(5.5	)	234,353			7.5
	Total revenues	302,993			265,990			13.9		277,455			9.2
	Provision for credit losses	13,763			13,094			5.1		8,211			67.6
	Non-interest expense	158,753			168,989			(6.1	)	188,071			(15.6	)
	Net income available to common shareholders	96,533			129,090			(25.2	)	60,023			60.8
PER COMMON SHARE DATA:
	Earnings available to common shareholders - basic	$	1.76		$	2.33		(24.5	)	$	1.11		58.6
	Earnings available to common shareholders - diluted	1.75			2.32			(24.6	)	1.10			59.1
	Core earnings (Non-GAAP)(2)	1.72			1.86			(7.5	)	1.37			25.5
	Book value	73.50			71.61			2.6		66.38			10.7
	Tangible book value (Non-GAAP) (2) (3)	49.48			47.61			3.9		42.91			15.3
	Closing stock price	71.71			64.28			11.6		78.00			(8.1	)
	Cash dividends	0.43			0.41			4.9		0.38			13.2
KEY RATIOS AND OTHER DATA (6):
	Net interest margin (TE) (1)	3.59		%	3.81		%			3.67		%
	Efficiency ratio	52.4			63.5					67.8
	Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2) (3)	51.3			50.7					58.8
	Return on average assets	1.32			1.70					0.92
	Return on average common equity	9.85			13.38					6.79
	Core return on average tangible common equity (Non-GAAP) (2)(3)	15.03			16.98					13.83
	Effective tax rate	23.3			(55.0		)			21.6
	Full-time equivalent employees	3,384			3,403					3,726
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (2) (3)	9.01		%	8.84		%			8.66		%
	Tangible common equity to risk-weighted assets (3)	10.60			10.43					10.27
	Tier 1 leverage ratio (4)	9.67			9.63					9.97
	Common equity Tier 1 (CET 1) ratio(4)	10.73			10.72					10.77
	Tier 1 capital ratio (4)	11.25			11.25					11.32
	Total risk-based capital ratio (4)	12.33			12.33					12.48
	Common stock dividend payout ratio	24.3			17.8					36.0
	Classified assets to Tier 1 capital (7)	11.2			10.7					16.3

11

ASSET QUALITY RATIOS:
	Non-performing assets to total assets (5)	0.58	%	0.55	%	0.64	%
	ALLL to total loans and leases	0.62		0.62		0.67
	Net charge-offs to average loans (annualized)	0.13		0.14		0.09
	Non-performing assets to total loans and OREO (5)	0.79		0.75		0.87
(1)	Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2)	See Table 7 and Table 8 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, 2019 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. For purposes of this table, past due and non-accrual loan amounts 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.
(6)	All ratios are calculated on an annualized basis for the periods indicated.
(7)	Classified assets include commercial loans rated substandard or worse, non-performing mortgage and consumer loans, and OREO and foreclosed property 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
	3/31/2019		12/31/2018			$		%		9/30/2018		6/30/2018		3/31/2018			$		%
Interest income	$	326,084	$	330,196		(4,112	)	(1.2	)	$	317,067	$	303,823	$	270,543		55,541		20.5
Interest expense	75,600		65,175			10,425		16.0		57,842		47,710		37,654			37,946		100.8
Net interest income	250,484		265,021			(14,537	)	(5.5	)	259,225		256,113		232,889			17,595		7.6
Provision for credit losses	13,763		13,094			669		5.1		11,384		7,696		8,211			5,552		67.6
Net interest income after provision for credit losses	236,721		251,927			(15,206	)	(6.0	)	247,841		248,417		224,678			12,043		5.4
Mortgage income	11,849		10,379			1,470		14.2		12,729		13,721		9,595			2,254		23.5
Service charges on deposit accounts	12,810		13,425			(615	)	(4.6	)	13,520		12,950		12,908			(98	)	(0.8	)
Title revenue	5,225		5,996			(771	)	(12.9	)	6,280		6,846		5,027			198		3.9
Broker commissions	1,953		1,951			2		0.1		2,627		2,396		2,221			(268	)	(12.1	)
ATM/debit card fee income	2,582		2,267			315		13.9		2,470		2,925		2,633			(51	)	(1.9	)
Income from bank owned life insurance	1,797		2,023			(226	)	(11.2	)	1,744		1,261		1,282			515		40.2
(Loss) gain on sale of available-for-sale securities	—		(49,844		)	49,844		100.0		—		3		(59		)	59		100.0
Trust department income	4,167		4,319			(152	)	(3.5	)	3,993		4,243		3,426			741		21.6
Other non-interest income	12,126		10,453			1,673		16.0		9,724		9,595		7,533			4,593		61.0
Total non-interest income	52,509		969			51,540		5,318.9		53,087		53,940		44,566			7,943		17.8
Salaries and employee benefits	98,296		101,551			(3,255	)	(3.2	)	101,159		107,445		104,586			(6,290	)	(6.0	)
Occupancy and equipment	18,564		18,379			185		1.0		18,889		19,931		20,047			(1,483	)	(7.4	)
Amortization of acquisition intangibles	5,009		5,083			(74	)	(1.5	)	5,382		6,111		5,102			(93	)	(1.8	)
Computer services expense	9,157		8,942			215		2.4		9,036		9,309		12,393			(3,236	)	(26.1	)
Professional services	4,450		8,628			(4,178	)	(48.4	)	5,519		7,160		7,391			(2,941	)	(39.8	)
Credit and other loan related expense	2,859		4,776			(1,917	)	(40.1	)	4,830		5,089		4,393			(1,534	)	(34.9	)
Other non-interest expense	20,418		21,630			(1,212	)	(5.6	)	24,247		41,731		34,159			(13,741	)	(40.2	)
Total non-interest expense	158,753		168,989			(10,236	)	(6.1	)	169,062		196,776		188,071			(29,318	)	(15.6	)
Income before income taxes	130,477		83,907			46,570		55.5		131,866		105,581		81,173			49,304		60.7
Income tax expense (benefit)	30,346		(46,132		)	76,478		165.8		30,401		30,457		17,552			12,794		72.9
Net income	100,131		130,039			(29,908	)	(23.0	)	101,465		75,124		63,621			36,510		57.4
Less: Preferred stock dividends	3,598		949			2,649		279.1		3,599		949		3,598			—		—
Net income available to common shareholders	$	96,533	$	129,090		(32,557	)	(25.2	)	$	97,866	$	74,175	$	60,023		36,510		60.8
Income available to common shareholders - basic	$	96,533	$	129,090		(32,557	)	(25.2	)	$	97,866	$	74,175	$	60,023		36,510		60.8

13

Less: Earnings allocated to unvested restricted stock	933			1,214			(281	)	(23.1	)	908		767		639		294		46.0
Earnings allocated to common shareholders	$	95,600		$	127,876		(32,276	)	(25.2	)	$	96,958	$	73,408	$	59,384	36,216		61.0
Earnings per common share - basic	$	1.76		$	2.33		(0.57	)	(24.5	)	$	1.74	$	1.31	$	1.11	0.65		58.6
Earnings per common share - diluted	1.75			2.32			(0.57	)	(24.6	)	1.73		1.30		1.10		0.65		59.1
Impact of non-core items (Non-GAAP) (1)	(0.03		)	(0.46		)	0.43		93.5		0.01		0.41		0.27		(0.30	)	(111.1	)
Earnings per share - diluted, excluding non-core items (Non-GAAP)(1)	$	1.72		$	1.86		(0.14	)	(7.5	)	$	1.74	$	1.71	$	1.37	0.35		25.5
NUMBER OF COMMON SHARES OUTSTANDING (in thousands)
Weighted average common shares outstanding - basic	54,177			54,892			(715	)	(1.3	)	55,571		55,931		53,616		561		1.0
Weighted average common shares outstanding - diluted	54,539			55,215			(676	)	(1.2	)	55,945		56,287		53,967		572		1.1
Book value shares (period end)	54,551			54,796			(245	)	(0.4	)	56,007		56,390		56,779		(2,228	)	(3.9	)
(1)  See Table 7 and Table 8 for GAAP to Non-GAAP reconciliations.

14

TABLE 3 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
PERIOD-END BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	3/31/2019			12/31/2018			$		%		9/30/2018			6/30/2018			3/31/2018			$		%
Cash and due from banks	$	280,680		$	294,186		(13,506	)	(4.6	)	$	291,083		$	299,268		$	253,527		27,153		10.7
Interest-bearing deposits in other banks	391,217			396,267			(5,050	)	(1.3	)	184,852			428,120			310,565			80,652		26.0
Total cash and cash equivalents	671,897			690,453			(18,556	)	(2.7	)	475,935			727,388			564,092			107,805		19.1
Investment securities available for sale	4,873,778			4,783,579			90,199		1.9		4,634,124			4,650,915			4,542,486			331,292		7.3
Investment securities held to maturity	198,958			207,446			(8,488	)	(4.1	)	213,561			221,030			224,241			(25,283	)	(11.3	)
Total investment securities	5,072,736			4,991,025			81,711		1.6		4,847,685			4,871,945			4,766,727			306,009		6.4
Mortgage loans held for sale	128,451			107,734			20,717		19.2		42,976			78,843			110,348			18,103		16.4
Loans and leases, net of unearned income	22,968,295			22,519,815			448,480		2.0		22,343,906			22,075,783			21,706,090			1,262,205		5.8
Allowance for loan and lease losses	(142,966		)	(140,571		)	(2,395	)	1.7		(136,950		)	(136,576		)	(144,527		)	1,561		(1.1	)
Loans and leases, net	22,825,329			22,379,244			446,085		2.0		22,206,956			21,939,207			21,561,563			1,263,766		5.9
Premises and equipment, net	297,342			300,507			(3,165	)	(1.1	)	304,605			326,213			329,454			(32,112	)	(9.7	)
Goodwill and other intangible assets	1,319,992			1,324,269			(4,277	)	(0.3	)	1,313,478			1,320,664			1,338,573			(18,581	)	(1.4	)
Other assets	944,442			1,039,783			(95,341	)	(9.2	)	926,752			861,902			801,880			142,562		17.8
Total assets	$	31,260,189		$	30,833,015		427,174		1.4		$	30,118,387		$	30,126,162		$	29,472,637		1,787,552		6.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	6,448,613		$	6,542,490		(93,877	)	(1.4	)	$	6,544,926		$	6,814,441		$	6,595,495		(146,882	)	(2.2	)
NOW accounts	4,452,966			4,514,113			(61,147	)	(1.4	)	4,247,533			4,453,152			4,500,181			(47,215	)	(1.0	)
Savings and money market accounts	9,119,263			9,066,205			53,058		0.6		9,159,036			9,318,331			9,146,710			(27,447	)	(0.3	)
Time deposits	4,071,220			3,640,623			430,597		11.8		3,241,951			2,844,534			2,728,806			1,342,414		49.2
Total deposits	24,092,062			23,763,431			328,631		1.4		23,193,446			23,430,458			22,971,192			1,120,870		4.9
Short-term borrowings	845,000			1,167,000			(322,000	)	(27.6	)	790,000			595,000			375,000			470,000		125.3
Securities sold under agreements to repurchase	261,131			315,882			(54,751	)	(17.3	)	452,719			459,213			525,496			(264,365	)	(50.3	)
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	1,355,345			1,046,041			309,304		29.6		1,346,700			1,318,504			1,329,192			26,153		2.0
Other liabilities	444,710			364,274			80,436		22.1		273,051			289,468			250,740			193,970		77.4
Total liabilities	27,118,358			26,776,738			341,620		1.3		26,176,026			26,212,753			25,571,730			1,546,628		6.0
Total shareholders' equity	4,141,831			4,056,277			85,554		2.1		3,942,361			3,913,409			3,900,907			240,924		6.2
Total liabilities and shareholders' equity	$	31,260,189		$	30,833,015		427,174		1.4		$	30,118,387		$	30,126,162		$	29,472,637		1,787,552		6.1

15

TABLE 3 Continued - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
AVERAGE BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	3/31/2019			12/31/2018			$		%		9/30/2018			6/30/2018			3/31/2018			$		%
Cash and due from banks	$	291,659		$	281,509		10,150		3.6		$	279,918		$	296,907		$	308,319		(16,660	)	(5.4	)
Interest-bearing deposits in other banks	332,638			385,619			(52,981	)	(13.7	)	259,455			392,906			486,298			(153,660	)	(31.6	)
Total cash and cash equivalents	624,297			667,128			(42,831	)	(6.4	)	539,373			689,813			794,617			(170,320	)	(21.4	)
Investment securities available for sale	4,816,855			4,567,564			249,291		5.5		4,673,454			4,629,177			4,544,836			272,019		6.0
Investment securities held to maturity	202,601			211,333			(8,732	)	(4.1	)	216,419			222,764			226,229			(23,628	)	(10.4	)
Total investment securities	5,019,456			4,778,897			240,559		5.0		4,889,873			4,851,941			4,771,065			248,391		5.2
Mortgage loans held for sale	95,588			63,033			32,555		51.6		87,823			72,917			109,027			(13,439	)	(12.3	)
Loans and leases, net of unearned income	22,599,686			22,364,188			235,498		1.1		22,162,373			21,830,720			20,181,390			2,418,296		12.0
Allowance for loan and lease losses	(140,915		)	(138,675		)	(2,240	)	1.6		(139,075		)	(145,565		)	(144,295		)	3,380		(2.3	)
Loans and leases, net	22,458,771			22,225,513			233,258		1.0		22,023,298			21,685,155			20,037,095			2,421,676		12.1
Premises and equipment, net	299,741			302,956			(3,215	)	(1.1	)	315,259			327,686			331,640			(31,899	)	(9.6	)
Goodwill and other intangible assets	1,322,288			1,318,200			4,088		0.3		1,316,527			1,338,420			1,281,598			40,690		3.2
Other assets	1,013,359			977,740			35,619		3.6		874,078			804,920			807,177			206,182		25.5
Total assets	$	30,833,500		$	30,333,467		500,033		1.6		$	30,046,231		$	29,770,852		$	28,132,219		2,701,281		9.6
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	6,271,313		$	6,646,071		(374,758	)	(5.6	)	$	6,684,343		$	6,795,878		$	6,278,507		(7,194	)	(0.1	)
NOW accounts	4,458,634			4,212,304			246,330		5.8		4,296,392			4,494,064			4,363,557			95,077		2.2
Savings and money market accounts	9,089,099			9,169,184			(80,085	)	(0.9	)	9,237,614			9,146,302			8,664,085			425,014		4.9
Time deposits	3,859,354			3,457,017			402,337		11.6		3,023,180			2,719,627			2,471,485			1,387,869		56.2
Total deposits	23,678,400			23,484,576			193,824		0.8		23,241,529			23,155,871			21,777,634			1,900,766		8.7
Short-term borrowings	859,576			602,593			256,983		42.6		820,087			609,965			506,056			353,520		69.9
Securities sold under agreements to repurchase	291,643			386,563			(94,920	)	(24.6	)	376,078			427,508			477,862			(186,219	)	(39.0	)
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	1,343,752			1,308,086			35,666		2.7		1,260,900			1,261,515			1,257,213			86,539		6.9
Other liabilities	434,516			470,501			(35,985	)	(7.6	)	292,445			281,820			275,869			158,647		57.5
Total liabilities	26,727,997			26,372,429			355,568		1.3		26,111,149			25,856,789			24,414,744			2,313,253		9.5
Total shareholders' equity	4,105,503			3,961,038			144,465		3.6		3,935,082			3,914,063			3,717,475			388,028		10.4
Total liabilities and shareholders' equity	$	30,833,500		$	30,333,467		500,033		1.6		$	30,046,231		$	29,770,852		$	28,132,219		2,701,281		9.6

16

Table 4 - IBERIABANK CORPORATION
LOANS AND ASSET QUALITY DATA
(Dollars in thousands)
							Linked Qtr Change													Year/Year Change
LOANS	3/31/2019			12/31/2018			$		%		9/30/2018			6/30/2018			3/31/2018			$		%
Commercial loans and leases:
Real estate- construction	$	1,219,647		$	1,196,366		23,281		1.9		$	1,127,988		$	1,183,367		$	1,199,625		20,022		1.7
Real estate- owner-occupied (1)	2,408,079			2,395,822			12,257		0.5		2,458,964			2,455,685			2,449,513			(41,434	)	(1.7	)
Real estate- non-owner occupied	6,147,864			5,796,117			351,747		6.1		5,794,931			5,653,252			5,599,813			548,051		9.8
Commercial and industrial (6)	5,852,568			5,737,017			115,551		2.0		5,581,040			5,512,416			5,325,682			526,886		9.9
Total commercial loans and leases	15,628,158			15,125,322			502,836		3.3		14,962,923			14,804,720			14,574,633			1,053,525		7.2
Residential mortgage loans	4,415,267			4,359,156			56,111		1.3		4,300,163			4,124,538			3,971,067			444,200		11.2
Consumer and other loans:
Home equity	2,220,648			2,304,694			(84,046	)	(3.6	)	2,350,176			2,410,617			2,421,186			(200,538	)	(8.3	)
Other	704,222			730,643			(26,421	)	(3.6	)	730,644			735,908			739,204			(34,982	)	(4.7	)
Total consumer and other loans	2,924,870			3,035,337			(110,467	)	(3.6	)	3,080,820			3,146,525			3,160,390			(235,520	)	(7.5	)
Total loans and leases	$	22,968,295		$	22,519,815		448,480		2.0		$	22,343,906		$	22,075,783		$	21,706,090		1,262,205		5.8
Allowance for loan and lease losses (2)	$	(142,966	)	$	(140,571	)	(2,395	)	1.7		$	(136,950	)	$	(136,576	)	$	(144,527	)	1,561		(1.1	)
Loans and leases, net	22,825,329			22,379,244			446,085		2.0		22,206,956			21,939,207			21,561,563			1,263,766		5.9
Reserve for unfunded commitments	(15,981		)	(14,830		)	(1,151	)	7.8		(14,721		)	(14,433		)	(13,432		)	(2,549	)	19.0
Allowance for credit losses	(158,947		)	(155,401		)	(3,546	)	2.3		(151,671		)	(151,009		)	(157,959		)	(988	)	0.6
ASSET QUALITY DATA
Non-accrual loans (3)	$	148,056		$	137,184		10,872		7.9		$	143,595		$	131,155		$	153,975		(5,919	)	(3.8	)
Other real estate owned and foreclosed assets	30,606			30,394			212		0.7		32,418			22,267			27,117			3,489		12.9
Accruing loans more than 90 days past due (3)	4,111			2,128			1,983		93.2		12,452			9,314			8,288			(4,177	)	(50.4	)
Total non-performing assets (3)(4)	$	182,773		$	169,706		13,067		7.7		$	188,465		$	162,736		$	189,380		(6,607	)	(3.5	)
Loans 30-89 days past due (3)	$	45,334		$	57,332		(11,998	)	(20.9	)	$	70,624		$	43,159		$	78,293		(32,959	)	(42.1	)
Non-performing assets to total assets (3)(4)	0.58		%	0.55		%					0.63		%	0.54		%	0.64		%
Non-performing assets to total loans and OREO (3)(4)	0.79			0.75							0.84			0.74			0.87
ALLL to non-performing loans (3)(5)	94.0			100.9							87.8			97.2			89.1
ALLL to non-performing assets (3)(4)	78.2			82.8							72.7			83.9			76.3
ALLL to total loans and leases	0.62			0.62							0.61			0.62			0.67

17

Quarter-to-date charge-offs	$	8,918		$	10,806		(1,888	)	(17.5	)	$	12,006		$	13,618		$	9,116		(198	)	(2.2	)
Quarter-to-date recoveries	(1,586		)	(3,097		)	1,511		(48.8	)	(3,049		)	(1,968		)	(4,813		)	3,227		(67.0	)
Quarter-to-date net charge-offs	$	7,332		$	7,709		(377	)	(4.9	)	$	8,957		$	11,650		$	4,303		3,029		70.4
Net charge-offs to average loans (annualized)	0.13		%	0.14		%					0.16		%	0.21		%	0.09		%
(1) Real estate- owner-occupied is defined as loans with a "1E1" call report code (loans secured by owner-occupied non-farm non-residential properties).
(2) The allowance for loan and lease losses includes impairment reserves attributable to acquired impaired loans.
(3) For purposes of this table, past due and non-accrual loan amounts 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.
(4) Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.
(5) Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.
(6) Includes equipment financing leases.

18

TABLE 5 - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2019							12/31/2018						Basis Point Change
ASSETS	Average Balance			Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	15,253,655		$	194,510	5.19	%	$	14,978,169	$	196,881	5.24	%	(5)
Residential mortgage loans	4,385,634			47,829		4.36		4,345,811		53,836		4.96		(60)
Consumer and other loans	2,960,397			42,540		5.83		3,040,208		44,275		5.78		5
Total loans and leases	22,599,686			284,879		5.11		22,364,188		294,992		5.26		(15)
Mortgage loans held for sale	95,588			1,054		4.41		63,033		721		4.58		(17)
Investment securities (2)	5,052,922			36,125		2.90		4,782,844		30,559		2.61		29
Other earning assets	533,745			4,026		3.06		581,673		3,924		2.68		38
Total earning assets	28,281,941			326,084		4.68		27,791,738		330,196		4.74		(6)
Allowance for loan and lease losses	(140,915		)					(138,675)
Non-earning assets	2,692,474							2,680,404
Total assets	$	30,833,500						$	30,333,467
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	4,458,634		$	11,396	1.04	%	$	4,212,304	$	9,420	0.89	%	15
Savings and money market accounts	9,089,099			28,762		1.28		9,169,184		26,062		1.13		15
Time deposits	3,859,354			20,077		2.11		3,457,017		16,666		1.91		20
Total interest-bearing deposits (3)	17,407,087			60,235		1.40		16,838,505		52,148		1.23		17
Short-term borrowings	1,151,219			5,716		2.01		989,156		4,104		1.65		36
Long-term debt	1,463,862			9,649		2.67		1,428,196		8,923		2.48		19
Total interest-bearing liabilities	20,022,168			75,600		1.53		19,255,857		65,175		1.34		19
Non-interest-bearing deposits	6,271,313							6,646,071
Non-interest-bearing liabilities	434,516							470,501
Total liabilities	26,727,997							26,372,429
Total shareholders' equity	4,105,503							3,961,038
Total liabilities and shareholders' equity	$	30,833,500						$	30,333,467
Net interest income/Net interest spread				$	250,484	3.15	%			$	265,021	3.40	%	(25)
Taxable equivalent benefit				1,349		0.02				1,427		0.02		—
Net interest income (TE)/Net interest margin (TE) (1)				$	251,833	3.59	%			$	266,448	3.81	%	(22)
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(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, 2019 and December 31, 2018 were 1.03% and 0.88%, respectively.

19

TABLE 5 Continued - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	9/30/2018						6/30/2018						3/31/2018
ASSETS	Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	14,825,572	$	191,014	5.13	%	$	14,631,985	$	178,830	4.92	%	$	14,087,635	$	164,660	4.76	%
Residential mortgage loans	4,230,471		48,145		4.55		4,041,259		47,215		4.67		3,151,775		34,494		4.38
Consumer and other loans	3,106,330		43,966		5.62		3,157,476		44,431		5.64		2,941,980		38,915		5.36
Total loans and leases	22,162,373		283,125		5.09		21,830,720		270,476		4.98		20,181,390		238,069		4.79
Mortgage loans held for sale	87,823		1,037		4.72		72,917		836		4.59		109,027		1,154		4.23
Investment securities (2)	5,016,163		29,793		2.43		4,958,769		29,325		2.42		4,843,448		28,094		2.38
Other earning assets	456,120		3,112		2.71		580,477		3,186		2.20		679,902		3,226		1.92
Total earning assets	27,722,479		317,067		4.57		27,442,883		303,823		4.46		25,813,767		270,543		4.26
Allowance for loan and lease losses	(139,075)						(145,565)						(144,295)
Non-earning assets	2,462,827						2,473,534						2,462,747
Total assets	$	30,046,231					$	29,770,852					$	28,132,219
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	4,296,392	$	8,841	0.82	%	$	4,494,064	$	8,620	0.77	%	$	4,363,557	$	7,081	0.66	%
Savings and money market accounts	9,237,614		23,076		0.99		9,146,302		18,434		0.81		8,664,085		14,579		0.68
Time deposits	3,023,180		12,484		1.64		2,719,627		9,105		1.34		2,471,485		6,584		1.08
Total interest-bearing deposits (3)	16,557,186		44,401		1.06		16,359,993		36,159		0.89		15,499,127		28,244		0.74
Short-term borrowings	1,196,165		4,727		1.57		1,037,473		3,327		1.29		983,918		2,524		1.04
Long-term debt	1,381,010		8,714		2.50		1,381,625		8,224		2.39		1,377,323		6,886		2.03
Total interest-bearing liabilities	19,134,361		57,842		1.20		18,779,091		47,710		1.02		17,860,368		37,654		0.86
Non-interest-bearing deposits	6,684,343						6,795,878						6,278,507
Non-interest-bearing liabilities	292,445						281,820						275,869
Total liabilities	26,111,149						25,856,789						24,414,744
Total shareholders' equity	3,935,082						3,914,063						3,717,475
Total liabilities and shareholders' equity	$	30,046,231					$	29,770,852					$	28,132,219
Net interest income/Net interest spread			$	259,225	3.37	%			$	256,113	3.44	%			$	232,889	3.40	%
Taxable equivalent benefit			1,461		0.02				1,449		0.02				1,464		0.02
Net interest income (TE)/Net interest margin (TE) (1)			$	260,686	3.74	%			$	257,562	3.76	%			$	234,353	3.67	%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(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, 2018, June 30, 2018, and March 31, 2018, were 0.76%, 0.63% and 0.53%, respectively.

20

Table 6 - IBERIABANK CORPORATION
LEGACY AND ACQUIRED LOAN PORTFOLIO VOLUMES AND YIELDS
(Dollars in millions)
	For the Three Months Ended
	3/31/2019							12/31/2018							9/30/2018							6/30/2018							3/31/2018
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	$	213		$	17,192	5.02	%	$	209		$	16,616	4.99	%	$	193		$	15,957	4.80	%	$	179		$	15,217	4.73	%	$	166		$	14,556	4.61	%
Acquired loans	72			5,408		5.35		86			5,748		5.97		90			6,205		5.78		91			6,614		5.51		72			5,625		5.20
Total loans	$	285		$	22,600	5.10	%	$	295		$	22,364	5.24	%	$	283		$	22,162	5.08	%	$	270		$	21,831	4.97	%	$	238		$	20,181	4.77	%
	3/31/2019							12/31/2018							9/30/2018							6/30/2018							3/31/2018
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	(11		)	136		(0.92	)	(19		)	144		(1.46	)	(17		)	144		(1.23	)	(16		)	142		(1.12	)	(15		)	142		(1.16	)
Total loans	$	(11	)	$	136	(0.22	)%	$	(19	)	$	144	(0.38	)%	$	(17	)	$	144	(0.35	)%	$	(16	)	$	142	(0.34	)%	$	(15	)	$	142	(0.32	)%
	3/31/2019							12/31/2018							9/30/2018							6/30/2018							3/31/2018
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	$	213		$	17,192	5.02	%	$	209		$	16,616	4.99	%	$	193		$	15,957	4.80	%	$	179		$	15,217	4.73	%	$	166		$	14,556	4.61	%
Acquired loans	61			5,544		4.43		67			5,892		4.51		73			6,349		4.55		75			6,756		4.39		57			5,767		4.04
Total loans	$	274		$	22,736	4.88	%	$	276		$	22,508	4.86	%	$	266		$	22,306	4.73	%	$	254		$	21,973	4.63	%	$	223		$	20,323	4.45	%

21

Table 7 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands, except per share amounts)
	For the Three Months Ended
	3/31/2019									12/31/2018									9/30/2018
	Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)
Net income	$	130,477		$	100,131		$	1.82		$	83,907		$	130,039		$	2.34		$	131,866		$	101,465		$	1.79
Less: Preferred stock dividends	—			3,598			0.07			—			949			0.02			—			3,599			0.06
Income available to common shareholders (GAAP)	$	130,477		$	96,533		$	1.75		$	83,907		$	129,090		$	2.32		$	131,866		$	97,866		$	1.73
Non-interest income adjustments (1)(3):
Loss (gain) on sale of investments	—			—			—			49,844			37,882			0.68			(1		)	(1		)	—
Other non-core non-interest income	—			—			—			415			316			—			—			—			—
Total non-interest income adjustments	—			—			—			50,259			38,198			0.68			(1		)	(1		)	—
Non-interest expense adjustments (1)(3):
Merger-related expense	(334		)	(254		)	—			(238		)	(353		)	—			973			743			0.01
Compensation-related expense	(9		)	(7		)	—			184			140			—			1,104			839			0.01
Impairment of long-lived assets, net of (gain) loss on sale	986			749			0.01			64			49			—			3,286			2,497			0.05
Gain on early termination of loss share agreements	—			—			—			—			—			—			(2,708		)	(2,058		)	(0.04		)
Other non-core non-interest expense	(3,129		)	(2,378		)	(0.04		)	2,600			1,976			0.04			(1,955		)	(1,486		)	(0.02		)
Total non-interest expense adjustments	(2,486		)	(1,890		)	(0.03		)	2,610			1,812			0.04			700			535			0.01
Income tax expense (benefit) - impact of the Tax Cuts and Jobs Act	—			—			—			—			(65,317		)	(1.18		)	—			—			—
Core earnings (Non-GAAP)	127,991			94,643			1.72			136,776			103,783			1.86			132,565			98,400			1.74
Provision for credit losses (1)	13,763			10,460						13,094			9,951						11,384			8,652
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	141,754		$	105,103					$	149,870		$	113,734					$	143,949		$	107,052
	For the Three Months Ended
	6/30/2018									3/31/2018
	Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)
Net income	$	105,581		$	75,124		$	1.32		$	81,173		$	63,621		$	1.17
Less: Preferred stock dividends	—			949			0.02			—			3,598			0.07
Income available to common shareholders (GAAP)	$	105,581		$	74,175		$	1.30		$	81,173		$	60,023		$	1.10
Non-interest income adjustments (1)(3):
(Gain) loss on sale of investments	(3		)	(2		)	—			59			44			—
Non-interest expense adjustments (1)(3):
Merger-related expense	14,333			11,012			0.20			16,227			12,517			0.23

22

Compensation-related expense	1,781			1,354			0.02	1,221			928			0.02
Impairment of long-lived assets, net of (gain) loss on sale	5,413			4,114			0.07	2,074			1,576			0.03
Other non-core non-interest expense	(95		)	(72		)	—	(683		)	(520		)	(0.01	)
Total non-interest expense adjustments	21,432			16,408			0.29	18,839			14,501			0.27
Income tax expense - impact of the Tax Cuts and Jobs Act	—			6,572			0.12	—			—			—
Income tax expense (benefit) - other	—			—			—	—			173			—
Core earnings (Non-GAAP)	127,010			97,153			1.71	100,071			74,741			1.37
Provision for credit losses (1)	7,696			5,849				8,211			6,240
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	134,706		$	103,002			$	108,282		$	80,981
(1) Excluding preferred stock dividends and merger-related expense, after-tax amounts are calculated using a tax rate of 24%, which approximates the marginal tax rate.
(2) Diluted per share amounts may not appear to foot due to rounding.
(3) Adjustments to GAAP results include certain significant activities or transactions that, in management's opinion, can distort period-to-period comparisons of the Company's performance. These adjustments include, but are not limited to, realized and unrealized gains or losses on former bank-owned real estate, realized gains or losses on the sale of investment securities, merger-related expenses, and gains, losses, and impairment charges on long-lived assets.

23

Table 8 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2019			12/31/2018			9/30/2018			6/30/2018			3/31/2018
Net interest income (GAAP)	$	250,484		$	265,021		$	259,225		$	256,113		$	232,889
Taxable equivalent benefit	1,349			1,427			1,461			1,449			1,464
Net interest income (TE) (Non-GAAP) (1)	251,833			266,448			260,686			257,562			234,353
Non-interest income (GAAP)	52,509			969			53,087			53,940			44,566
Taxable equivalent benefit	478			539			463			336			341
Non-interest income (TE) (Non-GAAP) (1)	52,987			1,508			53,550			54,276			44,907
Taxable equivalent revenues (Non-GAAP) (1)	304,820			267,956			314,236			311,838			279,260
Securities (gains) losses and other non-interest income	—			50,259			(1		)	(3		)	59
Core taxable equivalent revenues (Non-GAAP) (1)	$	304,820		$	318,215		$	314,235		$	311,835		$	279,319
Total non-interest expense (GAAP)	$	158,753		$	168,989		$	169,062		$	196,776		$	188,071
Less: Intangible amortization expense	5,009			5,083			5,382			6,111			5,102
Tangible non-interest expense (Non-GAAP) (2)	153,744			163,906			163,680			190,665			182,969
Less: Merger-related expense	(334		)	(238		)	973			14,333			16,227
Compensation-related expense	(9		)	184			1,104			1,781			1,221
Impairment of long-lived assets, net of (gain) loss on sale	986			64			3,286			5,413			2,074
Gain on early termination of loss share agreements	—			—			(2,708		)	—			—
Other non-core non-interest expense	(3,129		)	2,600			(1,955		)	(95		)	(683		)
Core tangible non-interest expense (Non-GAAP) (2)	$	156,230		$	161,296		$	162,980		$	169,233		$	164,130
Return on average assets (GAAP)	1.32		%	1.70		%	1.34		%	1.01		%	0.92		%
Effect of non-core revenues and expenses	(0.03		)	(0.33		)	0.01			0.31			0.21
Core return on average assets (Non-GAAP)	1.29		%	1.37		%	1.35		%	1.32		%	1.13		%
Efficiency ratio (GAAP)	52.4		%	63.5		%	54.1		%	63.5		%	67.8		%
Effect of tax benefit related to tax-exempt income	(0.3		)	(0.4		)	(0.3		)	(0.4		)	(0.4		)
Efficiency ratio (TE) (Non-GAAP) (1)	52.1		%	63.1		%	53.8		%	63.1		%	67.4		%
Effect of amortization of intangibles	(1.6		)	(1.9		)	(1.7		)	(1.9		)	(1.8		)
Effect of non-core items	0.8			(10.5		)	(0.2		)	(6.9		)	(6.8		)
Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2)	51.3		%	50.7		%	51.9		%	54.3		%	58.8		%
Return on average common equity (GAAP)	9.85		%	13.38		%	10.21		%	7.87		%	6.79		%
Effect of non-core revenues and expenses	(0.19		)	(2.63		)	0.06			2.43			1.66
Core return on average common equity (Non-GAAP)	9.66		%	10.75		%	10.27		%	10.30		%	8.45		%
Effect of intangibles (2)	5.37			6.23			6.07			6.40			5.38
Core return on average tangible common equity (Non-GAAP) (2)	15.03		%	16.98		%	16.34		%	16.70		%	13.83		%
Total shareholders' equity (GAAP)	$	4,141,831		$	4,056,277		$	3,942,361		$	3,913,409		$	3,900,907
Less: Goodwill and other intangibles	1,310,458			1,315,462			1,305,915			1,314,165			1,332,672
Preferred stock	132,097			132,097			132,097			132,097			132,097
Tangible common equity (Non-GAAP) (2)	$	2,699,276		$	2,608,718		$	2,504,349		$	2,467,147		$	2,436,138
Total assets (GAAP)	$	31,260,189		$	30,833,015		$	30,118,387		$	30,126,162		$	29,472,637
Less: Goodwill and other intangibles	1,310,458			1,315,462			1,305,915			1,314,165			1,332,672
Tangible assets (Non-GAAP) (2)	$	29,949,731		$	29,517,553		$	28,812,472		$	28,811,997		$	28,139,965
Tangible common equity ratio (Non-GAAP) (2)	9.01		%	8.84		%	8.69		%	8.56		%	8.66		%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2) Tangible calculations eliminate the effect of goodwill and acquisition-related intangibles and the corresponding amortization expense on a tax-effected basis where applicable.

24

EX-99.2

Exhibit 99.2 1Q19 Earnings Presentation April 25, 2019

Safe Harbor And Non-GAAP Financial Measures 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 25, 2019, 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. 2

Corporate Profile Driving long-term value creation for our clients, associates, communities and shareholders Our Franchise Corporate Snapshot • $4.2 billion market cap as of April 24, 2019 • $77.14 share price • 2.23% dividend yield • $31.3 billion in total assets as of March 31, 2019 • $23.0 billion in loans • $24.1 billion in deposits • Operating continuously for over 132 years • 324 offices serving 33 MSAs across 12 states • Investment grade rated (Holding Company Issuer) – S&P Rating BBB/A-2 3

Corporate Profile Driving long-term value creation for our clients, associates, communities and shareholders Mission Statement Our Focus • Provide exceptional value-based client • Relationship-driven commercial and services private banking business • Market-centric, people-driven approach in Great place to work • attractive Southeastern markets • Growth that is consistent with high • Building long-term A-list client performance relationships through service and care • “Branch-lite” delivery model with focus on Shareholder-focused • operating efficiency • Strong sense of community • Diversification across asset classes, business lines and geographies 4

Quarterly Summary 1Q19 Non- Non- GAAP GAAP Key Metrics GAAP GAAP 4Q18 1Q19 Core 4Q18 Core 1Q19 Earnings Per Common Share $2.32 $1.75 $1.86 $1.72 Return On Average Assets 1.70% 1.32% 1.37% 1.29% Return on Average Common Equity 13.38% 9.85% 10.75% 9.66% Return on Tangible Common Equity (TE) -- -- 16.98% 15.03% Tangible Efficiency Ratio (TE) -- -- 50.7% 51.3% First Quarter Highlights: • Excellent loan growth, non-interest income increases, and continued expense management contributed to $1.75 and $1.72 EPS on a GAAP and core basis, respectively. On a year-over-year basis, core EPS increased 26% from 1Q18. • Reported net interest margin of 3.59% and cash margin of 3.42%, a decrease of 22 and 10 basis points, respectively. The decline in margin was primarily driven by lower recoveries as expected and higher cost of funding. Funding costs increased as the Company realized seasonal declines in lower cost deposits and strong loan growth primarily funded with wholesale sources. • Revenue growth on a core basis increased $1.3 million, a 2% increase linked quarter, due to increases in mortgage income and strong growth in swap revenues for the quarter. • Core non-interest expense declined by $5.1 million, or 3% on an annualized basis from 4Q18, primarily due to lower salaries and benefits and credit-related expense. • Asset quality metrics continue to be strong and stable. • Declared cash dividend of $0.43 per common share, a 5% increase compared to the fourth quarter of 2018. • Repurchased 387,921 common shares at a weighted average price per share of $77.19 during the quarter. 5

Preferred Stock Series D • On April 4, 2019, the Company issued and sold 4.0 million depositary shares, each representing 1/400th interest in a share of non-cumulative perpetual preferred stock. The Series D preferred stock has an initial coupon equal to 6.100% for a period of five years, and thereafter floats at a rate of LIBOR plus 385.9 basis points. The Company raised approximately $100 million in gross proceeds from the transaction. Proceeds from the transaction are currently expected to be used for repurchases of common stock. This re-stacking of capital is expected to provide a few incremental pennies of EPS and enhance the Company's ROTCE by approximately 50 basis points in 2020, based on IBKC's current stock price. The impact of this offering will be immaterial on 2019 earnings. 6

Profitability Trends GAAP EPS Core EPS Return on Average Assets Return on Common Equity 7

Client Growth Loan Highlights Deposit Highlights • Total period-end loan growth of $448 million, or 2.0% (8.1% • Period-end total deposits increased $329 million, or 1.4% annualized) (5.6% annualized rate) • Loan growth during 1Q19 was strongest in the Energy Group • First quarter deposits include an increase of $270 million (primarily reserve-based lending), Corporate Asset Finance of brokered and reciprocal deposits (equipment financing business) group, and in the Atlanta, • 1Q19 growth was strongest in the Miami-Dade, Southwest South Florida Commercial and Dallas markets Louisiana, and Palm Beach/Broward markets Loans – Period-End Balances Deposits – Period-End Balances 8

Net Interest Margin Changes For 1Q18 Net Interest Primary Reason Net Interest Income ($MM) For Change Margin (%) $265.0 4Q18 3.81% 8.7 Changes in Legacy Loan Portfolios 0.11% (5.2) Runoff of Acquired Loan Balances -0.09% Decrease in Non-Recurring Recovery (8.3) -0.12% Revenue (13.5) Changes in Acquired Loan Portfolios -0.21% 5.6 Improved Securities Portfolio Yield 0.08% (2.7) Increased Borrowings -0.05% Greater Deposit Rates From Repricing (9.4) -0.14% and Wholesale Funding (3.7) Change In Number of Business Days 0.00% 0.5 All Other Factors -0.01% $250.5 1Q19 3.59% • Net interest margin was impacted by repricing of variable rate loans, security portfolio yields, and deposit and funding costs in 1Q19 • Reduction in recovery income on acquired loans negatively impacting margin 12 basis points in 1Q19, partially offset by changes in legacy loans • Increasing funding costs reduced net interest margin by 14 basis points • Variable rate loans represent 61% of total portfolio, with over 86% repricing within the next 12 months 9

Interest Rate Betas 1 Trailing 12 Cycle 2Q18 3Q18 4Q18 1Q19 Months to Date 1Q18 2Q18 3Q18 4Q18 Mar-18 Nov-15 2Q18 3Q18 4Q18 1Q19 Mar-19 Mar-19 Total Loans 77% 43% 67% -56% 38% 32% Earning Assets 80% 44% 70% -26% 42% 32% Int. Bearing Deposits 59% 71% 66% 70% 66% 45% Total Deposits2 40% 53% 49% 60% 50% 33% • Loan and earning asset beta contraction due to impact of lower recoveries on acquired loans and accretable income • Total deposit beta increased in 1Q19 to 60% as compared to 49% in 4Q18 • Cycle to Date deposit beta equal to 33% on total deposits and 45% on interest-bearing deposits 1 Interest rate betas calculated based on the change in yield divided by the absolute change in indices between periods 2 Total deposits includes non-interest bearing deposits which represent 26% of average total deposits at March 31, 2019 10

Revenues Net Interest Income and Margins Components of Core Non-Interest Income • GAAP non-interest income increased by $51.5 million primarily as a result of the 4Q18 $49.8 • Reported net interest margin decreased 22 basis million loss on sales of securities as the points and cash margin decreased 10 basis points Company restructured its investment portfolio • Margin decrease a result of increases in loan • Core non-interest income increased by $1.3 originations, slower prepayments and fewer million, or 2%, mainly as result of increases in recoveries leading to non-core wholesale funding mortgage income and customer swap increases commission income Dollars in millions 11

Non-Interest Expense Components of Core Non-Interest Expense Highlights • Total non-interest expense for the quarter decreased $10.2 million, or 6%, from the prior quarter to $158.8 million • Core non-interest expense decreased $5.2 million, or 3%, to $161.2 million: Included decreases of: • $3.2 million in salaries and benefits expense • $1.9 million in credit-related expense • $2.5 million of non-core expense primarily related to impairments of former bank properties, offset by interest on refunds received from tax filings in the current quarter 12

Efficiency Efficiency Ratio Trends Highlights • Total core revenues were down $13.3 million, or 5%, compared to 4Q18, while core expenses were down $5.2 million, or 3%, over the same period • Core revenues impacted by fewer recoveries and lower accretion income, partially offset by increased core non-interest income • Core tangible efficiency ratio was 51.3% in 1Q19 • First quarter results continue to show progress from efforts to manage expenses • No new branch consolidations/ closings in 1Q19 13

Asset Quality Highlights Diversified Loan Portfolio • The Company remains well- positioned with strong and stable asset quality metrics and diversified loan growth • Classified Assets to Total Assets of 1.01% in 1Q19 compared to 0.98% in 4Q18 and 1.49% in 1Q18 • Non-performing assets increased to Non-Performing Assets $183 million at 1Q19. First quarter 2019 NPAs/Assets equal to 0.58% compared to 0.64% in the first quarter of 2018 14

Asset Quality Highlights Provision & Net Charge-Offs NCOs / Avg Loans 2016 0.23% • Net charge-offs remain at historically 2017 0.33% low levels 2018 0.15% • Net charge-offs decreased $0.4 million on a linked quarter basis, to $7.3 million at 1Q19 • Annualized QTD net charge-offs equate to 0.13% of average loans at 1Q19 Allowance for Loan Losses • Provision expense of $13.8 million covered net charge-offs by 188% in 1Q19 15

Capital Position Highlights Capital Ratios (Preliminary) • Capital ratios remain strong IBERIABANK Corporation 4Q18 1Q19 Change • IBKC Ratios impacted by common stock Tangible Common Equity ratio 8.84% 9.01% 17 bps Declared quarterly common stock dividend of $0.43 per share, an Common Equity Tier 1 (CET 1) ratio 10.72% 10.73% 1 bps increase of $0.02 per share over the prior quarter, or 5%, payable on April Tier 1 Leverage 9.63% 9.67% 4 bps 26, 2019 Tier 1 Risk-Based 11.25% 11.25% 0 bps • Repurchased 0.4 million shares IBKC common stock during the quarter at a Total Risk-Based 12.33% 12.33% 0 bps weighted average price of $77.19 per common share • Under the current Board-authorized IBERIABANK and Subsidiaries 4Q18 1Q19 Change share repurchase plan there are approximately 1.877 million shares of Common Equity Tier 1 (CET 1) ratio 10.95% 11.00% 5 bps common stock remaining that may be purchased by the Company Tier 1 Leverage 9.38% 9.47% 9 bps Tier 1 Risk-Based 10.95% 11.00% 5 bps Total Risk-Based 11.58% 11.63% 5 bps 16

2019 Financial Guidance Update 2019 Guidance Average Earning Assets $28.6B ~ $28.9B Consolidated Loan Growth % 5% ~ 7% Consolidated Deposit Growth % 5% ~ 7% Provision Expense $45MM ~ $50MM Non-Interest Income (Core Basis) $215MM ~ $225MM Non-Interest Expense (Core Basis) $675MM ~ $690MM Net Interest Margin 3.55% ~ 3.65% Tax Rate 23.0% ~ 24.0% Preferred Dividend $17.0MM ~ $18.0MM Share Repurchase Activity $230MM ~ $240MM Credit Quality Stable • Assumes no federal funds rate increases in 2019 • Net interest margin range reduced to 3.55% - 3.65% • Non-interest expense guide lowered to $675 - $690 million • Narrowed range of provision to $45-$50 million • Includes increased Preferred Dividends and anticipated share repurchase activity from recent capital raise 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. 17

APPENDIX 18

Loans and Deposits By State Total Loans Total Deposits $23.0 Billion $24.1 Billion Note:Figures at period-end March 31, 2019 19

Non-Interest Income And Expense Trend Details 1Q19 vs. 4Q18 Non-interest Income ($ millions) 4Q 17 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 $ Change % Change Service Charges on Deposit Accounts $ 12.6 $ 12.9 $ 12.9 $ 13.5 $ 13.4 $ 12.8 $ (0.6) -5% ATM / Debit Card Fee Income 2.6 2.6 2.9 2.5 2.3 2.6 0.3 14% BOLI Proceeds and CSV Income 1.3 1.3 1.3 1.7 2.0 1.8 (0.2) -11% Mortgage Income 13.7 9.6 13.7 12.7 10.8 11.8 1.0 10% Title Revenue 5.4 5.0 6.8 6.3 6.0 5.2 (0.8) -13% Broker Commissions 1.9 2.2 2.4 2.6 1.9 1.9 0.0 -4% Other Non-interest Income 14.8 11.0 13.9 13.8 14.8 16.4 1.6 11% Non-interest income excluding non-core income $ 52.3 $ 44.6 $ 53.9 $ 53.1 $ 51.2 $ 52.5 $ 1.3 2% Gain (Loss) on Sale of Investments, Net 0.0 (0.1) 0.0 0.0 (49.8) - 49.8 -100% Other Non-core income - - - - (0.4) - 0.4 -100% Total Non-interest Income $ 52.3 $ 44.5 $ 53.9 $ 53.1 $ 1.0 $ 52.5 $ 51.5 5319% 1Q19 vs. 4Q18 Non-interest Expense ($ millions) 4Q 17 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 $ Change % Change Mortgage Commissions $ 5.3 $ 4.4 $ 6.6 $ 5.3 $ 3.5 $ 3.3 $ (0.2) -7% Hospitalization Expense 6.8 6.7 6.9 5.2 8.1 6.1 (2.0) -24% Other Salaries and Benefits 88.5 90.0 88.0 89.6 90.0 89.0 (1.0) -1% Salaries and Employee Benefits $ 100.6 $ 101.1 $ 101.5 $ 100.1 $ 101.6 $ 98.4 $ (3.2) -3% Credit/Loan Related 4.7 4.4 5.1 4.8 4.8 2.9 (1.9) -40% Occupancy and Equipment 18.4 18.4 19.9 18.5 18.2 18.6 0.4 2% Amortization of Acquisition Intangibles 4.6 5.1 6.1 5.4 5.1 5.0 (0.1) -1% All Other Non-interest Expense 38.8 40.3 42.7 39.6 36.7 36.3 (0.4) -1% Nonint. Exp. (Ex-Non-Core Exp.) $ 167.1 $ 169.3 $ 175.3 $ 168.4 $ 166.4 $ 161.2 $ (5.2) -3% Compensation-related expense $ 1.5 $ 1.2 $ 1.8 $ 1.1 $ 0.2 $ 0.0 (0.2) -95% Gain on early termination of loss share - - - (2.7) - - - 0% Storm-related expense 0.1 - - - 0.0 0.0 (0.0) -92% Impairment of branch properties, net of gains on sales 3.2 2.1 5.4 3.3 0.1 1.0 0.9 1441% Consulting and Professional - - - - 3.0 - (3.0) -100% Other Non-interest Expense 0.3 (0.7) (0.1) (2.0) (0.3) (3.1) (2.8) 923% Merger-related expense 11.4 16.2 14.3 1.0 (0.2) (0.3) (0.1) 40% Total Non-interest Expense $ 183.6 $ 188.1 $ 196.8 $ 169.1 $ 169.0 $ 158.8 $ (10.2) -6% Tangible Efficiency Ratio - excl Non-Core-Exp 55.8% 58.8% 54.3% 51.9% 50.7% 51.3% 20

GAAP And Non-GAAP Cash Margin Balances, As As Adjusted Reported Adjustments Non-GAAP 1Q18 Average Balance $ 25,814 $ 142 $ 25,956 Income $ 232.9 $ (14.8) $ 218.1 • Adjustments represent accounting Rate 3.67% -0.25% 3.42% impacts of purchase discounts on acquired loans and related 2Q18 accretion Average Balance $ 27,443 $ 142 $ 27,585 Income $ 256.1 $ (16.9) $ 239.2 Rate 3.76% -0.27% 3.49% 3Q18 Average Balance $ 27,722 $ 144 $ 27,866 Income $ 259.2 $ (17.5) $ 241.7 Rate 3.74% -0.27% 3.47% 4Q18 Average Balance $ 27,792 $ 144 $ 27,936 Income $ 265.0 $ (19.4) $ 245.6 Rate 3.81% -0.29% 3.52% 1Q19 Average Balance $ 28,282 $ 136 $ 28,418 Income $ 250.5 $ (10.9) $ 239.6 Rate 3.59% -0.17% 3.42% Dollars in millions 21

Reconciliation Of Non-GAAP Financial Measures For The Quarter Ended September 30, 2018 December 31, 2018 March 31, 2019 Dollar Amount Dollar Amount Dollar Amount (2) (2) (2) Pre-tax After-tax Per share Pre-tax After-tax Per share Pre-tax After-tax Per share Income available to common shareholders (GAAP) $ 131.9 $ 97.9 $ 1.73 $ 83.9 $ 129.1 $ 2.32 $ 130.5 $ 96.5 $ 1.75 Non-interest income adjustments Gain on sale of investments and other non-interest income (0.0) (0.0) (0.00) 50.3 38.2 0.68 - - - Non-interest expense adjustments Merger-related expense 1.0 0.7 0.01 (0.2) (0.4) - (0.4) (0.3) - Compensation-related expense 1.1 0.8 0.01 0.2 0.1 - - - - Impairment of long-lived assets, net of (gain) loss on sale 3.3 2.5 0.05 0.1 0.0 - 1.0 0.8 0.01 (Gain) on early termination of loss share agreements (2.7) (2.0) (0.04) - - - - - - Other non-operating non-interest expense (2.0) (1.5) (0.02) 2.6 2.0 0.04 (3.1) (2.4) (0.04) Total non-interest expense adjustments 0.7 0.5 0.01 2.6 1.8 0.04 (2.5) (1.9) (0.03) Income tax expense (benefit) - - - - (65.3) (1.18) - - - Core earnings (Non-GAAP) 132.6 98.4 1.74 136.8 103.8 1.86 128.0 94.6 1.72 Provision for credit losses 11.4 8.7 13.1 9.9 13.8 10.5 Pre-provision earnings, as adjusted (Non-GAAP) $ 144.0 $ 107.1 $ 149.9 $ 113.7 141.8 105.1 (1) Per share amounts may not appear to foot due to rounding. (2) Excluding merger-related expense and litigation expense, after-tax amounts are calculated using a tax rate of 24%, which approximates the marginal tax rate. • No non-core income in 1Q19 • Favorable net non-core non-interest expenses equal to $2.5 million pre-tax, or $0.03 EPS after-tax, primarily from interest related to the refunds received from tax filings in the current quarter, partially offset by impairment of formerly bank-owned properties • $141.8 million in pre-tax pre-provision core earnings for 1Q19 Dollars in millions 22