IBERIABANK Corporation Reports Third Quarter Earnings

21 October 2005

IBERIABANK Corporation
(Nasdaq: IBKC), the holding company of the 118-year-old IBERIABANK
(http://www.iberiabank.com ), announced details regarding one-time costs
associated with hurricane-related activities, the financial results for the
quarter ended September 30, 2005, and a progress update regarding significant
expansion initiatives. Overall, the Company believes issues associated with
Hurricanes Katrina and Rita have been fully analyzed and addressed. All but
one of the Company's 43 offices are fully operational, and all associates are
actively serving clients. Exclusive of one-time hurricane-related charges,
the Company reported record earnings and fully diluted earnings per share
("EPS") for the quarter ended September 30, 2005 and improved asset quality
during the third quarter compared to the second quarter of 2005 ("linked
quarter basis"). At September 30, 2005, total loan and deposit volumes were
at record high levels. The Company's opportunistic expansion initiative
remains on track with management's expectations, with a roll-out of new
facilities staged over the next two quarters.
Daryl G. Byrd, President and CEO of IBERIABANK Corporation, remarked, "The
actions we demonstrated over the last seven weeks reflect critical elements of
our mission statement: exceptional value-based client service, a great place
to work, growth consistent with high performance, shareholder-focus, and a
strong sense of community. Immediately after the storms passed, we secured our
people and their families, ensured a safe working environment for our
associates and focused our entire organization on serving our clients' needs.
Our organization worked relentlessly to assist our clients and communities in
the rebuilding process. We proactively communicated with the investment
community and shareholders as to our situation and we implemented an
opportunistic expansion initiative. I am very proud of our associates in the
exceptional teamwork and care they demonstrated during this period."
Byrd continued, "The southeastern part of the United States is no stranger
to severe and indiscriminate storm activity. As indicated below, hurricanes
and tropical storms are quite common in the entire region. What made the
situations unique with Hurricanes Katrina and Rita were the widespread nature
and extreme severity of the storms, the punishing aftermath to our local
region, the impact on the national economic infrastructure, and the enormous
magnitude of the reconstruction process. Never has such a widespread area
faced dislocation, destruction, and an historic opportunity for rebirth. The
unique culture of our region provides a strong mortar to bond the foundation
blocks of the rebuilding process. The most powerful storms on record are no
match for the determination of the people of Louisiana."

% of Atlantic Ocean Hurricane And Tropical Storm Impacts By State 1994-2005

Florida N.C. Texas Alabama Miss. Louisiana Other Atlantic
Total 18% 9% 6% 6% 6% 6% 19% 30%

Note: Hurricanes and tropical storm impacts per http://www.wunderground.com
maps. Some storms had multiple state impacts.

On August 29, 2005, Hurricane Katrina, a category 4 storm, made landfall
in southeastern Louisiana and the coast of Mississippi. Hurricane Katrina,
and its destructive aftermath, is considered to have been the most devastating
and costly storm in our nation's history. Near-term estimates placed the cost
of rebuilding at $200 billion, and final cost estimates approximate
$300 billion. The near-term estimate of $200 billion is 13 times greater than
the rebuilding cost of Hurricane Andrew in 1992 and over 16 times greater than
aggregate rebuilding efforts for the multiple hurricanes that ravaged sections
of Florida in 2004. The devastation caused by this storm is without precedent
and, according to President George W. Bush, rebuilding is considered to
constitute "the largest reconstruction effort the world has ever seen."
The Company has eight offices in the affected New Orleans area. All but
one of the eight offices are fully functional and operating under normal
conditions. Within one week of the storm's passing, all 71 associates in the
New Orleans market were secured, and shortly thereafter, the majority of these
associates were assisting clients. Access to client accounts was unaffected
by the storm. During the third quarter of 2005, the Company incurred
approximately $1.1 million in net charge-offs associated with Hurricane
Katrina, $100,000 in costs associated with insurance deductibles and facility
repair in the New Orleans region, and $150,000 in other hurricane-related
expenses. The Company incurred a $12.8 million special provision for loan
losses associated with Hurricane Katrina. The Company estimates NSF service
charge income and ATM fee income were negatively impacted by approximately
$66,000 on a pre-tax basis immediately following Hurricane Katrina.
On September 23, 2005, Hurricane Rita, a category 3 storm, made landfall
in southwestern Louisiana and southeastern Texas. This storm caused
significant wind damage primarily in the area near Beaumont, Texas and Lake
Charles, Louisiana. The Company has no operations in that area. The storm
also caused flooding in five parishes in Louisiana, including Vermilon Parish,
in which the Company has clients that experienced business disruption and
property flooding.
The Company has 22 offices in the Acadiana region in south-central
Louisiana. All 22 offices are fully functional and operating under normal
conditions. Access to client accounts was unaffected by the storm. In the
third quarter of 2005, the Company incurred no net charge-offs related to
Hurricane Rita and approximately $100,000 in hurricane-related expenses. The
Company recorded a $1.6 million special provision for loan losses associated
with Hurricane Rita. NSF and ATM income were not materially impacted by
Hurricane Rita.

Loan Loss Reserve Methodology
The Company's ability to reconnect with associates and clients rapidly
afforded an opportunity to estimate potential credit issues associated with
the storms, and assist in meeting clients' needs. All commercial, private
banking, and institutional clients and 97% of small business clients affected
by Hurricane Katrina have been contacted by the Company. Similarly, the
majority of commercial, private banking, institutional, and small business
clients affected by Hurricane Rita have been contacted as well.
Immediately after each storm passed, the Company's credit team began
intense analysis of affected portfolios, client flood and property and
casualty insurance coverage, impacts on sources of repayment and underlying
collateral, and client payment probability. Flood mapping technology,
physical inspection, and client conversations provided valuable assistance in
the analytical work.
The framework for the analysis involved first determining which clients
were in the affected areas. Second, clients were grouped by segment type
(commercial, private banking, mortgage, indirect automobile, etc.). Third,
segmented clients were analyzed in detail and parsed into three risk
categories -- low, medium and high. Low risk clients had no impact, or
relatively insignificant impact as a result of the storm. Medium risk clients
had some impact on their primary or secondary sources of repayment, but had
adequate liquidity to satisfy their obligations. Finally, high risk clients
had potentially significant problems that affected both primary and secondary
sources of repayment. Reserve levels were then placed against particular
credits based on estimated default levels and loss expectations. For example,
for residential mortgage loans, a 50% default rate was assumed for high risk
clients on the gross loan balance outstanding (not net of estimated insurance
proceeds), and a 40% loss rate was assumed. Medium risk residential mortgage
clients were assumed to have a 35% default rate and a loss rate of 20%. Low
risk clients were assumed to have a 20% default rate and a 10% loss rate.
Similar methodologies were used for other segments and risk categories, though
default rates and loss expectation levels differed between various segments
and categories.
While the Company is comfortable with the framework utilized and reserves
incurred, actual default and loss rates may differ materially from levels
assumed by the Company. No material consideration was given for any federal
assistance and private mortgage insurance ("PMI"), and only minimal land
values were assumed. Federal and/or state assistance may be forthcoming, but
the outcome is uncertain at this stage. PMI exists for 6% and 11% of
residential mortgage loans affected by Hurricanes Katrina and Rita,
respectively. Given limited real estate transaction closings since Hurricane
Katrina, no determination can be made regarding land values at this stage.
However, the Company decided a conservative approach was warranted in the
abundance of caution and collateral uncertainty. The risk classifications and
reserve allocation methodology are subject to change as particular situations
continue to evolve.

Branch Expansion Initiative
The most severe elements of Hurricane Katrina passed to the east of the
Company's operations and headquarters, and Hurricane Rita to the west. The
Company was uniquely positioned geographically among large Louisiana-based
bank holding companies in southern Louisiana. The Company's associates
remained in continuous contact with clients, and clients had uninterrupted
access to their accounts. While some of the Company's offices were affected
by the storms, all but one of the Company's affected offices were restored
within days after the storms passed.
The Company announced a branch expansion initiative on September 16, 2005,
that was a result of the Company's unique strategic position, client
dislocation, recruitment opportunities, and facility and site availability.
The Company purchased 12 modular facilities and has purchased, or executed
purchase contracts on, 10 branch sites in Lafayette (River Ranch), Broussard
(near Highways 90 and 182), Baton Rouge area (Coursey Boulevard, Highland
Road, Prairieville, and Dutchtown), Covington (Highway 21), Slidell (Gause
Boulevard), Houma (St. Charles Street), Laplace (Belle Terre Boulevard), and
New Orleans (Elmwood). Site preparations are underway in many locations, and
branch roll-out is expected to be staged over the next six months. Many
branches are expected to be fully operational before the end of 2005. Some
locations are expected to be converted to traditional "brick and mortar"
offices, while many may remain modular units for the foreseeable future.
The total cost for the 12 fully furnished modular units was $1.4 million.
Related equipment, including platform systems, PCs, signage, ATMs and other
equipment was $3.4 million. The cost of land purchases was $5.0 million. The
Company believes modular branch facilities cost approximately one-third the
cost of traditional "brick and mortar" structures, thus providing a very
cost-effective distribution system. This approach also substantially reduces
the risk of branch expansion, given the relatively mobile nature of the
modular units. Essentially, the Company is able to cater to the geographic
needs of its client base.

Financial Results
Due to the impact of the hurricanes, the Company reported a net loss of
$1.3 million for the quarter ended September 30, 2005 or a $0.15 loss per
share. The Company incurred, on a pre-tax basis, an aggregate one-time loan
loss provision of $14.4 million, one-time expenses of $346,000, and
approximately $66,000 in reduced NSF/ATM revenues during the third quarter of
2005 in association with these storms. Excluding this one-time
hurricane-related pre-tax impact of $14.8 million ($9.6 million on an
after-tax basis), net income for the third quarter was $8.2 million, a 17%
increase over the same period in 2004, and a 1% increase compared to the
second quarter of 2005. On this same basis, the Company earned $0.84 per
diluted share for the quarter, up 8% from the same period in 2004, and up 2%
on a linked quarter basis.
The Company believes the presentation of financial results excluding the
impact of one-time hurricane-related costs and lost revenues and one-time
merger related costs associated with the acquisition of American Horizons
Bancorp, Inc. provides a fair representation of the underlying performance of
the Company's core operations during 2005, which may be useful for comparison
purposes.

Additional Highlights For The Quarter Ended September 30, 2005

* Total assets were $2.8 billion at September 30, 2005, up 15% compared
to one year ago. Similarly, total deposits were a record $2.1 billion,
up 19% compared to one year ago and total loans were a record
$1.9 billion, up 18%.

* Tax-equivalent net interest margin was 3.47%, down seven basis points
compared to 3.54% in the second quarter of 2005. The margin
compression during the third quarter was the result of temporary excess
cash reserves associated with the storms (two of the seven basis point
decline) and higher liability pricing. The higher liability costs were
the result of client migration into higher-yielding deposit accounts,
higher CD repricing, and escalated overnight borrowing costs. The
yield on average earning assets grew 10 basis points, and the cost of
interest-bearing liabilities increased 21 basis points. Average non
interest bearing demand deposits increased 7% on a linked quarter
basis.

* Exclusive of one-time hurricane related provision and expenses, return
on average assets ("ROA") was 1.19% for the third quarter of 2005,
return on average equity ("ROE") was 12.27% and return on average
tangible equity was 20.26%.

* Nonperforming assets ("NPAs") decreased by $2.0 million, or 27%,
between June 30, 2005 and September 30, 2005. NPAs as a percentage of
total assets were 0.20% at September 30, 2005 compared to 0.27% at
June 30, 2005, and 0.26% one year ago. Exclusive of hurricane-related
provisions, coverage ratios of nonperforming loans and nonperforming
assets at September 30, 2005 were 488% and 435%, respectively.

* During the third quarter of 2005, the Company recorded no security
gains or losses and mortgage loan gains of $0.6 million.

* Tier 1 leverage ratio was 7.45% at September 30, 2005, down 16 basis
points from 7.61% at June 30, 2005, and down five basis points compared
to one year ago. At September 30, 2005, the Company's Tier 1 risk-based
capital ratio was 10.56%, and total risk-based capital ratio was
11.82%.

* The Company paid a 5-for-4 stock split in the form of a stock dividend
on August 15, 2005 to shareholders of record on August 1, 2005. All
per share figures in this release have been adjusted for the stock
split.

* On September 19, 2005, the Company declared a quarterly cash dividend
of $0.26 per share, an increase of 16% compared to the same quarter
last year and an 8% increase on a linked quarter basis. Over the last
thirteen quarters, the Company has increased the quarterly cash
dividend by 81%.

Total shareholders' equity decreased $6 million, or 2%, at September 30,
2005 compared to June 30, 2005, and increased $45 million, or 21% compared to
one year ago. At September 30, 2005 the Company's equity-to-assets ratio was
9.29%, compared to 9.74% at June 30, 2005 and 8.84% one year ago. Book value
per share at September 30, 2005 was $27.26, down $0.74 per share or 3%
compared to June 30, 2005 and up 10% compared to one year ago. Tangible book
value per share was $16.60, a decrease of 4% compared to June 30, 2005 and 2%
compared to one year ago.

Loans And Deposits
Total loans increased $49 million, or 3%, between June 30, 2005 and
September 30, 2005, and up 18% compared to one year ago. The Company's
commercial loan pipeline remains extremely strong. Period-end loan volume
increased $28 million, or 3% between June 30, 2005 and September 30, 2005.
The yield on average commercial loans climbed 15 basis points on a linked
quarter basis to yield 5.81%.
Residential mortgage loans increased $15 million, or 3% compared to
June 30, 2005. The average yield on mortgage loans increased seven basis
points on a linked quarter basis. Residential loans are comprised of
construction loans, private banking mortgages, and retail permanent mortgage
loans. Construction loans totaled $31 million, up 13% compared to June 30,
2005, and down 12% since one year ago. Construction loans account for less
than 2% of total loans. The Company believes the current low level of
construction and land development loans allows the Company to expand this
segment of the portfolio, in association with the rebuilding process for
Hurricanes Katrina and Rita, and maintain effective risk diversification.
Private banking mortgages increased $18 million, or 13%, during the quarter.
At September 30, 2005, the private banking mortgage portfolio had a weighted
average coupon of 5.25% and a weighted average maturity of 16.4 years. The
retail mortgage portfolio totals $276 million, with 5.51% weighted average
coupon, 17.3 weighted average maturity, and an average loan-to-value of 51%.
Approximately half of the retail mortgage portfolio is comprised of adjustable
rate mortgages ("ARMs"). The Company holds no option-ARMs, negative
amortization ARMs or interest-only ARMs in its retail mortgage loan portfolio.
The volume of mortgage loan originations totaled $65 million in the third
quarter of 2005, down 3% compared to the second quarter of 2005. The pipeline
of mortgage loans in process at September 30, 2005 was $66 million compared to
$67 million at June 30, 2005. During the third quarter of 2005, the Company
sold into the secondary market $6 million in residential mortgage loans
recently released from construction that were held in the loan portfolio
compared to $7 million in the second quarter of 2005 and $13 million in the
first quarter of 2005. These loan sales were part of the Company's stated
plans to sell into the secondary market recently originated, mortgage
production, including permanent mortgage loans coming out of construction.
Residential mortgage loan sale gains were up 5% on a linked quarter basis to
$0.6 million.
Indirect loan volume increased $5 million in the third quarter of 2005, up
2% on a linked quarter basis. In the quarter ended September 30, 2005, the
yield on the indirect loan portfolio climbed eight basis points on a linked
quarter basis to 6.14%.
The Company experienced strong deposit growth in the third quarter of
2005, after a fairly soft second quarter of 2005. At September 30, 2005,
noninterest bearing deposits climbed $53 million, or 20% and interest bearing
deposits grew $25 million, or 1% on a linked quarter basis. The Company's
liability cost structure increased during the quarter as some clients migrated
out of lower cost deposits into higher yielding accounts. Additionally,
$130 million in time deposits repriced at higher rates during the third
quarter of 2005. The cost of average interest-bearing deposits increased 21
basis points on a linked quarter basis. The yield on average NOW accounts
climbed 19 basis points, savings and money market products increased 24 basis
points and the yield on average CDs increased 21 basis points.

Investment Portfolio And Funding
The investment portfolio totaled $551 million at September 30, 2005, a
decline of $29 million or 5% compared to June 30, 2005. As a percentage of
assets, the investment portfolio declined to 20% at September 30, 2005,
compared to 21% at June 30, 2005, and 24% one year ago. The book yield on the
investment portfolio remained unchanged on a linked quarter basis. Bond
premium amortization in the third quarter of 2005 was unchanged from the prior
two quarters at $0.6 million. Given general mortgage refinancing levels and
anticipated prepayment speeds, management estimates premium amortization in
the third quarter of 2005 may be at levels similar to the last four quarters.
The Company's investment portfolio lengthened slightly during the quarter.
At September 30, 2005, the portfolio had a modified duration of 3.4 years
compared to 3.1 years at June 30, 2005 and 3.6 years one year ago. The
Company's investment portfolio has very limited extension risk. Based on
modeling at September 30, 2005, a parallel and instantaneous 300 basis point
increase in interest rates would extend the portfolio by only 0.8 years. At
current projected speeds, the portfolio is expected to generate approximately
$103 million in cash flows over the next 15 months. The portfolio had an
unrealized loss of $5.1 million at September 30, 2005 compared to a
$0.5 million loss at June 30, 2005, and an unrealized gain of $2.9 million one
year ago.
The Company regularly reviews the influence of interest rates on the
Company's profitability and earnings growth prospects. Asset/liability
management modeling at September 30, 2005 indicated the Company's interest
rate risk position is fairly balanced. A 100 basis point instantaneous and
parallel upward shift in interest rates would be estimated to increase net
interest income over 12 months by 1.2%. Similarly, a 100 basis point decrease
in interest rates would be expected to increase net interest income by 0.6%.
The influence of a flattening yield curve, using the forward curve as a guide,
would have an anticipated negative impact on net interest income of 0.6%
compared to the base case scenario of no change in interest rates.

Asset Quality
The Company believes that it uses a conservative definition of NPAs. The
Company considers NPAs to include nonaccruing loans, accruing loans more than
90 days past due, foreclosed assets, and Other Real Estate Owned. NPAs
amounted to $5.4 million at September 30, 2005, down $2.0 million, or 27%,
compared to June 30, 2005. NPAs equated to 0.20% of total assets compared to
0.27% of total assets at June 30, 2005. The allowance for loan losses was
2.03% at September 30, 2005 and equated to 700% of NPAs. Excluding
hurricane-related provisions, the Company's reserve coverage of NPAs was 455%
at September 30, 2005 up from 339% at June 30, 2005. Loans past due 30 days or
more (including nonaccruing loans) represented 0.72% of total loans at
September 30, 2005 a significant improvement over 0.82% at June 30, 2005.
On September 8, 2005, the Company sold nearly $4 million in nonperforming
loans to a third party with a resulting gain of $290,000, a recovery of
$65,000 and a reduction of goodwill of $348,000. This loan sale was
contemplated well in advance of storm-related activity.
The ratio of net charge-offs to average loans was 0.39% in the third
quarter of 2005 compared to 0.14% in the second quarter of 2005. The Company
recorded net charge-offs of $1.1 million in the third quarter in association
with seven credits in the New Orleans market. Excluding this special
$1.1 million charge-off, the ratio of net charge-offs to average loans was
0.16% in the third quarter of 2005. During the third quarter, the Company
charged off approximately $0.4 million associated with a commercial credit in
the New Orleans market prior to Hurricane Katrina. The charge-off of this
credit and associated loan loss provision were not included in the special
hurricane provisions described earlier.

Operating Results
The Company's tax-equivalent net interest margin declined seven basis
points on a linked quarter basis, two basis points of which were the result of
excess cash temporarily retained in association with the hurricanes. Average
earning assets increased less than $10 million on a linked quarter basis, as
average loan growth of $19 million was offset by a $21 million decline in
average investments. Total tax-equivalent revenues declined $0.3 million, or
1%, on a linked quarter basis. Tax-equivalent net interest income decreased
$0.2 million, or 1%, between the two linked quarters.
Noninterest income in the third quarter of 2005 decreased $0.1 million, or
2% on a linked quarter basis. Service charge income on deposit accounts
decreased approximately $0.1 million, or 3%, on a linked quarter basis,
primarily due to the waivers on NSF charges in the New Orleans market. ATM
fee income declined 9%, as a result of foreign ATM surcharge waivers for New
Orleans clients using non-IBERIABANK ATMs. The Company's previously disclosed
sale of nonperforming assets at September 8, 2005 also impacted noninterest
income during the quarter.
Noninterest expenses decreased $0.3 million, or 2% on a linked quarter
basis. Excluding one-time hurricane-related costs, the comparable figures
were declines of $0.6 million and 4%, respectively. The Company's
tax-equivalent tangible efficiency ratio (a measure of a bank's operating
efficiency) improved from 54.1% in the second quarter of 2005 to 53.7% in the
third quarter of 2005. Excluding one-time hurricane-related costs, the
tangible efficiency ratio in the third quarter of 2005 was 52.5%.
Through September 30, 2005, the branch expansion initiative had an
insignificant impact on the financial results of the Company. Fourth quarter
of 2005 will be negatively impacted as a result of costs such as depreciation,
staffing, and marketing associated with branch expansion initiative are
incurred, with limited initial revenue until loans and deposits associated
with the branches are booked. The Company currently estimates the branch
initiative will have a $0.04 negative impact on EPS in the fourth quarter of
2005.
Management stated today that, exclusive of costs associated with the
branch expansion initiative, the Company expects EPS in the fourth quarter of
2005 to be in the range of $0.80 to $0.85 per fully diluted share. This EPS
comfort range is based on management's current information, estimates and
assumptions. One fundamental assumption is the projected continuing flattening
of the yield curve in 2005 as presented in current forward interest rate
curves and immaterial additional hurricane-related costs. Turmoil in the
banking market in Louisiana has presented significant recruiting opportunities
for the Company. The Company anticipates a material expense associated with
strategic recruits in the fourth quarter of 2005 that will be offset by a gain
on the sale of excess land in northeast Louisiana.
For the full year of 2005, the Company expects EPS to be in the range of
$2.18 to $2.23. On an adjusted basis that excludes one-time merger related
costs associated with the acquisition of American Horizons (approximately
$0.04 per share in the first quarter of 2005), one-time hurricane-related
impact (approximately $0.99 per share in the third quarter of 2005), and costs
associated with the branch expansion initiative (approximately $0.04 per share
in the fourth quarter of 2005), the 2005 annual EPS would be $3.25 to $3.30,
or equivalent to $4.06 to $4.13 per share on a pre-split basis. The adjusted
figures are consistent with prior management guidance.
Based on a closing stock price on October 19, 2005 of $50.02 per share,
the Company's common stock traded at a price-to-earnings ratio of 13.9 times
current average analyst estimates of $3.61 per fully diluted EPS for 2006, and
1.83 times September 30, 2005 book value per share of $27.26. On September 19,
2005, the Company declared a quarterly cash dividend of $0.26 per share,
payable to shareholders of record as of September 30, 2005. This dividend
level represented a 16% increase over the same period last year and equated to
an annualized dividend rate of $1.04 per share and an indicated dividend yield
of 2.08%.
In association with this earnings release, 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, October 20, 2005,
beginning at 8:00 a.m. Central Time by dialing 1-800-288-8975. The
confirmation code for the call is 797147. A replay of the call will be
available until midnight Central Time on October 27, 2005 by dialing
1-800-475-6701. The confirmation code for the replay is 797147. A
supplemental PowerPoint presentation is available on the Company's website
at http://www.iberiabank.com/invest.cfm?page=invest_relations_redirect.cfm .

IBERIABANK Corporation is one of the oldest financial institutions with
continuous operations in the State of Louisiana and soon to be the second
largest Louisiana-based bank holding company. The Company operates 43 offices
located in New Orleans, Baton Rouge, Shreveport, Northeast Louisiana, and the
Acadiana region of Louisiana. The Company's common stock trades on NASDAQ
under the symbol "IBKC" and the Company's market capitalization is
approximately $470 million.

This press release contains financial information determined by methods
other than in accordance with GAAP. The Company's management uses these
non-GAAP measures in their analysis of the Company's performance. These
measures typically adjust GAAP performance measures to exclude certain
one-time events and the effects of the amortization of intangibles and include
the tax benefit associated with revenue items that are tax-exempt. Since the
presentation of these GAAP performance measures and their impact differ
between companies, management believes presentations of these non-GAAP
financial measures provide useful supplemental information that is essential
to a proper understanding of the operating results of the Company's core
businesses. These non-GAAP disclosures should not be viewed as a substitute
for operating results determined in accordance with GAAP, nor are they
necessarily comparable to non-GAAP performance measures that may be presented
by other companies.

Forward Looking Statements
To the extent that statements in this press release 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. IBERIABANK Corporation's actual
strategies and results in future periods may differ materially from those
currently expected due to various risks and uncertainties. Factors that may
cause actual results to differ materially from these forward-looking
statements include, but are not limited to, changes in market and economic
conditions, including current forward interest rate curves; changes in
interest rates, deposit flows, loan demand and real estate values; competitive
pressures; changes in accounting principles, policies or guidelines; changes
in the Company's loan or investment portfolio; legislative or regulatory
changes; changes in monetary or fiscal policies; military or terrorist
activities; litigation costs and expenses; and other economic, competitive,
governmental, regulatory and technological factors affecting the Company's
business activities and prospects. Factors affecting IBERIABANK Corporation
are discussed in the Company's periodic and other filings 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 .

IBERIABANK CORPORATION
FINANCIAL HIGHLIGHTS

For The Quarter Ended
September 30,

Reported Impact of Adjusted %
2005 Hurricanes 2005 2004 Change

Income Data (in thousands):
Net Interest Income $21,042 --- $21,042 $19,231 9%
Net Interest Income
(TE) (A) 21,870 --- 21,870 19,950 10%
Net Income (Loss) (1,341) 9,587 8,246 7,036 17%

Per Share Data:
Net Income (Loss) -
Basic $(0.15) $1.05 $0.90 $0.84 7%
Net Income (Loss) -
Diluted (0.15) 0.99 0.84 0.78 8%
Book Value 27.26 1.01 28.27 24.89 14%
Tangible Book Value (B) 16.60 1.01 17.61 16.91 4%
Cash Dividends 0.26 --- 0.26 0.22 16%

Number of Shares
Outstanding:
Basic Shares (Average) 9,176,517 9,176,517 8,360,589 10%
Diluted Shares
(Average) 9,176,517 9,855,266 9,039,252 9%
Book Value Shares
(Period End) (E) 9,469,544 9,469,544 8,578,443 10%

Key Ratios: (C)
Return on Average Assets (0.19%) 1.38% 1.19% 1.17%
Return on Average Equity (2.00%) 14.27% 12.27% 13.34%
Return on Average
Tangible Equity (B) (2.74%) 23.00% 20.26% 20.23%
Net Interest Margin
(TE) (A) 3.47% --- 3.47% 3.58%
Efficiency Ratio 57.0% (1.3%) 55.7% 56.7%
Tangible Efficiency
Ratio (TE) (A) (B) 53.7% (1.2%) 52.5% 53.8%
Average Loans to Average
Deposits 89.8% --- 89.8% 88.5%
Nonperforming Assets to
Total Assets (D) 0.20% (0.01%) 0.19% 0.26%
Allowance for Loan
Losses to Loans 2.03% (0.71%) 1.32% 1.24%
Net Charge-offs to
Average Loans 0.39% (0.23%) 0.16% 0.17%
Average Equity to
Average Total Assets 9.74% --- 9.74% 8.76%
Tier 1 Leverage Ratio 7.45% 0.37% 7.82% 7.50%
Dividend Payout Ratio --- --- 30.3% 27.2%

IBERIABANK CORPORATION
FINANCIAL HIGHLIGHTS (Continued)

For The Quarter Ended
June 30,
2005 % Change

Income Data (in thousands):
Net Interest Income $21,275 (1%)
Net Interest Income (TE) (A) 22,080 (1%)
Net Income (Loss) 8,128 1%

Per Share Data:
Net Income (Loss) - Basic $0.88 2%
Net Income (Loss) - Diluted 0.82 2%
Book Value 28.00 1%
Tangible Book Value (B) 17.23 2%
Cash Dividends 0.24 8%

Number of Shares Outstanding:
Basic Shares (Average) 9,233,918 (1%)
Diluted Shares (Average) 9,860,666 (0.1%)
Book Value Shares (Period End) (E) 9,422,454 0.5%

Key Ratios: (C)
Return on Average Assets 1.20%
Return on Average Equity 12.22%
Return on Average Tangible Equity (B) 20.26%
Net Interest Margin (TE) (A) 3.54%
Efficiency Ratio 57.3%
Tangible Efficiency Ratio (TE) (A) (B) 54.1%
Average Loans to Average Deposits 90.4%
Nonperforming Assets to Total
Assets (D) 0.27%
Allowance for Loan Losses to Loans 1.37%
Net Charge-offs to Average Loans 0.14%
Average Equity to Average Total Assets 9.80%
Tier 1 Leverage Ratio 7.61%
Dividend Payout Ratio 27.8%

(A) Fully taxable equivalent (TE) calculations include the tax benefit
associated with related income sources that are tax-exempt using a
marginal tax rate of 35%.
(B) Tangible calculations eliminate the effect of goodwill and
acquisition related intangible assets and the corresponding
amortization expense on a tax-effected basis where applicable.
(C) All ratios are calculated on an annualized basis for the period
indicated.
(D) Nonperforming assets consist of nonaccruing loans, accruing loans 90
days or more past due and repossessed assets.
(E) Shares used for book value purposes exclude shares held in treasury
and unreleased shares held by the Employee Stock Ownership Plan at
the end of the period.

IBERIABANK CORPORATION
CONDENSED CONSOLIDATED FINANCIAL INFORMATION
(dollars in thousands except per share data)

BALANCE SHEET
(End of Period) September 30, June 30, December 31,
2005 2004 % Change 2005 2004
ASSETS
Cash and Due
From Banks $50,901 $39,396 29.2% $48,528 $33,940
Interest-bearing
Deposits in
Banks 65,330 13,719 376.2% 13,615 19,325
Total Cash and
Equivalents 116,231 53,115 118.8% 62,143 53,265
Investment
Securities
Available for
Sale 521,104 540,425 (3.6%) 548,972 526,933
Investment
Securities Held
to Maturity 30,008 41,756 (28.1%) 31,226 40,022
Total
Investment
Securities 551,112 582,181 (5.3%) 580,198 566,955
Mortgage Loans
Held for Sale 15,581 10,624 46.7% 16,546 8,109
Loans, Net of
Unearned
Income 1,879,304 1,599,609 17.5% 1,830,070 1,650,626
Allowance for
Loan Losses (38,078) (19,885) 91.5% (25,102) (20,116)
Loans, net 1,841,226 1,579,724 16.6% 1,804,968 1,630,510
Premises and
Equipment 50,866 37,595 35.3% 47,548 39,557
Goodwill and
Acquisition
Intangibles 100,948 68,519 47.3% 101,436 68,310
Mortgage
Servicing
Rights 113 199 (43.0%) 133 176
Other Assets 101,115 82,979 21.9% 95,734 81,720
Total
Assets $2,777,192 $2,414,936 15.0% $2,708,706 $2,448,602

LIABILITIES AND
SHAREHOLDERS'
EQUITY
Noninterest-
bearing
Deposits $317,665 $219,339 44.8% $264,439 $218,859
Interest-
bearing
Deposits 1,785,046 1,546,606 15.4% 1,760,201 1,554,630
Total
Deposits 2,102,711 1,765,945 19.1% 2,024,640 1,773,489
Short-term
Borrowings 90,745 165,000 (45.0%) 119,500 192,000
Securities
Sold Under
Agreements to
Repurchase 52,459 49,139 6.8% 41,850 44,453
Long-term Debt 258,580 206,512 25.2% 243,652 206,089
Other
Liabilities 14,565 14,788 (1.5%) 15,256 12,409
Total
Liabilities 2,519,060 2,201,384 14.4% 2,444,898 2,228,440
Total
Shareholders'
Equity 258,132 213,552 20.9% 263,808 220,162
Total
Liabilities
and
Shareholders'
Equity $2,777,192 $2,414,936 15.0% $2,708,706 $2,448,602

For The Three Months Ended For The Nine Months Ended
INCOME STATEMENT September 30, September 30,
2005 2004 % Change 2005 2004 % Change

Interest Income $34,541 $28,047 23.2% $99,543 $79,641 25.0%
Interest Expense 13,499 8,816 53.1% 36,678 24,325 50.8%
Net Interest
Income 21,042 19,231 9.4% 62,865 55,316 13.6%
Provision for
Loan Losses 15,164 857 1669.7% 16,444 2,616 528.5%
Net Interest
Income After
Provision for
Loan Losses 5,878 18,374 (68.0%) 46,421 52,700 (11.9%)
Service Charges 3,576 3,317 7.8% 10,400 9,266 12.2%
ATM / Debit Card
Fee Income 633 523 21.1% 1,933 1,474 31.1%
BOLI Cash Surrender
Value Income 510 443 15.2% 1,471 1,210 21.6%
Gain on Sale of
Loans, net 864 592 45.9% 1,971 2,059 (4.3%)
Other Gains (Losses) 10 16 (34.9%) 234 530 (55.9%)
Other Noninterest
Income 1,047 966 8.3% 3,458 2,699 28.1%
Total Noninterest
Income 6,640 5,857 13.4% 19,467 17,238 12.9%
Salaries and
Employee Benefits 7,995 7,923 0.9% 24,466 22,557 8.5%
Occupancy and
Equipment 2,145 1,720 24.7% 6,068 5,134 18.2%
Amortization of
Acquisition
Intangibles 307 222 38.4% 908 674 34.7%
Other Noninterest
Expense 5,326 4,364 22.1% 16,053 13,092 22.6%
Total Noninterest
Expense 15,773 14,229 10.8% 47,495 41,457 14.6%
Income (Loss)
Before Income
Taxes (3,255) 10,002 (132.5%) 18,393 28,481 (35.4%)
Income Taxes (1,914) 2,966 (164.5%) 4,306 8,467 (49.1%)
Net Income
(Loss) $(1,341) $7,036 (119.1%) $14,087 $20,014 (29.6%)

Earnings (Loss)
Per Share,
diluted $(0.15) $0.78 (119.3%) $1.44 $2.20 (34.7%)

IBERIABANK CORPORATION
CONDENSED CONSOLIDATED FINANCIAL INFORMATION
(dollars in thousands except per share data)

For The Quarter Ended
BALANCE SHEET
(Average) Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
2005 2005 2005 2004 2004
ASSETS
Cash and Due
From Banks $53,087 $47,302 $47,631 $39,342 $39,305
Interest-bearing
Deposits in
Banks 25,384 16,326 21,648 22,207 12,921
Investment
Securities 568,356 590,950 575,846 574,843 599,601
Mortgage Loans
Held for Sale 15,621 12,436 10,360 12,209 8,488
Loans, Net of
Unearned
Income 1,854,951 1,836,362 1,771,488 1,627,276 1,566,672
Allowance for
Loan Losses (25,184) (25,104) (23,142) (19,994) (19,722)
Other Assets 246,144 245,432 223,068 189,577 188,195
Total
Assets $2,738,358 $2,723,704 $2,626,899 $2,445,460 $2,395,461

LIABILITIES
AND SHAREHOLDERS'
EQUITY
Noninterest-
bearing
Deposits $286,959 $267,004 $243,738 $223,921 $212,931
Interest-
bearing
Deposits 1,778,336 1,763,875 1,693,723 1,556,184 1,556,492
Total
Deposits 2,065,295 2,030,879 1,937,461 1,780,105 1,769,423
Short-term
Borrowings 86,902 120,138 141,020 171,522 181,658
Securities
Sold Under
Agreements to
Repurchase 46,786 51,805 50,550 51,240 45,891
Long-term Debt 258,090 240,637 228,035 206,317 175,032
Other
Liabilities 14,693 13,430 17,943 18,194 13,596
Total
Liabilities 2,471,766 2,456,889 2,375,009 2,227,378 2,185,600
Total
Shareholders'
Equity 266,592 266,815 251,890 218,082 209,861
Total
Liabilities
and
Shareholders'
Equity $2,738,358 $2,723,704 $2,626,899 $2,445,460 $2,395,461

2005 2004
INCOME Third Second First Fourth Third
STATEMENT Quarter Quarter Quarter Quarter Quarter

Interest Income $34,541 $33,549 $31,454 $28,969 $28,047
Interest Expense 13,499 12,274 10,905 9,657 8,816
Net Interest
Income 21,042 21,275 20,549 19,312 19,231
Provision for
Loan Losses 15,164 630 650 1,425 857
Net Interest
Income After
Provision for
Loan Losses 5,878 20,645 19,899 17,887 18,374
Total Noninterest
Income 6,640 6,745 6,081 5,979 5,857
Total Noninterest
Expense 15,773 16,047 15,676 13,440 14,229
Income (Loss)
Before Income
Taxes (3,255) 11,343 10,304 10,426 10,002
Income Taxes (1,914) 3,215 3,004 3,101 2,966
Net Income
(Loss) $(1,341) $8,128 $7,300 $7,325 $7,036

Earnings (Loss)
Per Share,
basic $(0.15) $0.88 $0.81 $0.88 $0.84

Earnings (Loss)
Per Share,
diluted $(0.15) $0.82 $0.75 $0.80 $0.78

Book Value Per
Share $27.26 $28.00 $27.64 $25.62 $24.89

Return on Average
Assets (0.19%) 1.20% 1.13% 1.19% 1.17%
Return on Average
Equity (2.00%) 12.22% 11.75% 13.36% 13.34%
Return on Average
Tangible Equity (2.74%) 20.26% 18.70% 19.84% 20.23%

IBERIABANK CORPORATION
CONDENSED CONSOLIDATED FINANCIAL INFORMATION
(dollars in thousands)

LOANS RECEIVABLE September 30, June 30, December 31,
2005 2004 % Change 2005 2004

Residential Mortgage
Loans:
Residential 1-4
Family $419,357 $379,730 10.4% $407,726 $387,085
Construction 30,805 34,912 (11.8%) 27,329 33,031
Total
Residential
Mortgage Loans 450,162 414,642 8.6% 435,055 420,116
Commercial Loans:
Real Estate 530,678 397,710 33.4% 516,378 419,427
Business 346,741 276,895 25.2% 332,602 307,614
Total Commercial
Loans 877,419 674,605 30.1% 848,980 727,041
Consumer Loans:
Indirect
Automobile 235,353 228,829 2.9% 229,910 222,481
Home Equity 239,834 211,088 13.6% 239,770 213,533
Automobile 23,114 21,630 6.9% 23,711 20,064
Credit Card Loans 8,191 8,093 1.2% 8,123 8,743
Other 45,231 40,722 11.1% 44,521 38,648
Total Consumer
Loans 551,723 510,362 8.1% 546,035 503,469
Total Loans
Receivable 1,879,304 1,599,609 17.5% 1,830,070 1,650,626
Allowance for
Loan Losses (38,078) (19,885) (25,102) (20,116)
Loans
Receivable,
Net $1,841,226 $1,579,724 $1,804,968 $1,630,510

ASSET QUALITY DATA September 30, June 30, December 31,
2005 2004 % Change 2005 2004

Nonaccrual Loans $3,465 $4,258 (18.6%) $6,558 $4,455
Foreclosed Assets 5 30 (81.7%) 60 9
Other Real Estate
Owned 365 787 (53.7%) 240 483
Accruing Loans More
Than 90 Days Past
Due 1,605 1,139 40.9% 540 1,209
Total Nonperforming
Assets (A) $5,440 $6,214 (12.5%) $7,398 $6,156

Nonperforming Assets
to Total Assets (A) 0.20% 0.26% (23.9%) 0.27% 0.25%
Nonperforming Assets
to Total Loans +
OREO (A) 0.29% 0.39% (25.5%) 0.40% 0.37%
Allowance for Loan
Losses to Nonperforming
Loans (A) 751.1% 368.4% 103.9% 353.6% 355.2%
Allowance for Loan
Losses to
Nonperforming
Assets (A) 700.0% 320.0% 118.7% 339.3% 326.8%
Allowance for Loan
Losses to Total Loans 2.03% 1.24% 63.0% 1.37% 1.22%
Year to Date
Charge-offs $4,432 $2,564 72.8% $2,036 $4,112
Year to Date
Recoveries $1,407 $1,017 38.4% $849 $1,370

(A) Nonperforming loans consist of nonaccruing loans and accruing loans
90 days or more past due. Nonperforming assets consist of
nonperforming loans and repossessed assets.

DEPOSITS September 30, June 30, December 31,
2005 2004 % Change 2005 2004
Noninterest-bearing
Demand Accounts $317,665 $219,339 44.8% $264,439 $218,859
NOW Accounts 546,017 514,189 6.2% 546,859 532,584
Savings and Money
Market Accounts 502,479 411,606 22.1% 483,057 393,772
Certificates of
Deposit 736,550 620,811 18.6% 730,285 628,274
Total Deposits $2,102,711 $1,765,945 19.1% $2,024,640 $1,773,489

IBERIABANK CORPORATION
CONDENSED CONSOLIDATED FINANCIAL INFORMATION
Taxable Equivalent Basis
(dollars in thousands)

For The Quarter Ended
September 30, 2005 September 30, 2004
Average Average
Average Yield/ Average Yield/
Balance Rate (%) Balance Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans $443,644 5.39% $405,524 5.43%
Commercial Loans (TE) (A) 862,834 5.81% 656,323 4.86%
Consumer and Other Loans 548,473 6.86% 504,825 6.46%
Total Loans 1,854,951 6.02% 1,566,672 5.52%
Mortgage Loans Held for Sale 15,621 5.68% 8,488 4.76%
Investment Securities (TE)
(A)(B) 571,725 4.42% 600,659 4.40%
Other Earning Assets 52,421 4.16% 36,351 2.39%
Total Earning Assets 2,494,718 5.61% 2,212,170 5.16%
Allowance for Loan Losses (25,184) (19,722)
Nonearning Assets 268,824 203,013
Total Assets $2,738,358 $2,395,461

LIABILITIES AND SHAREHOLDERS'
EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts $542,518 1.76% $516,417 1.15%
Savings and Money Market
Accounts 501,449 1.44% 413,115 0.77%
Certificates of Deposit 734,369 3.00% 626,960 2.43%
Total Interest-bearing
Deposits 1,778,336 2.18% 1,556,492 1.57%
Short-term Borrowings 133,688 2.74% 227,549 1.38%
Long-term Debt 258,090 4.21% 175,032 4.22%
Total Interest-bearing
Liabilities 2,170,114 2.46% 1,959,073 1.78%
Noninterest-bearing Demand
Deposits 286,959 212,931
Noninterest-bearing Liabilities 14,693 13,596
Total Liabilities 2,471,766 2,185,600
Shareholders' Equity 266,592 209,861
Total Liabilities and
Shareholders' Equity $2,738,358 $2,395,461

Net Earning Assets $324,604 $253,097
Net Interest Spread $21,042 3.15% $19,231 3.38%
Tax-equivalent Benefit 828 0.13% 719 0.12%
Net Interest Income (TE) / Net
Interest Margin (TE) (A) $21,870 3.47% $19,950 3.58%

(A) Fully taxable equivalent (TE) calculations include the tax benefit
associated with related income sources that are tax-exempt using a
marginal tax rate of 35%.
(B) Balances exclude unrealized gain or loss on securities available for
sale and impact of trade date accounting.

IBERIABANK CORPORATION
CONDENSED CONSOLIDATED FINANCIAL INFORMATION
Taxable Equivalent Basis
(dollars in thousands)

For The Nine Months Ended
September 30, 2005 September 30, 2004
Average Average
Average Yield/ Average Yield/
Balance Rate (%) Balance Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans $433,568 5.35% $393,369 5.50%
Commercial Loans (TE) (A) 850,346 5.64% 613,880 4.79%
Consumer and Other Loans 537,325 6.76% 490,608 6.57%
Total Loans 1,821,239 5.90% 1,497,857 5.56%
Mortgage Loans Held for Sale 12,825 5.40% 9,781 4.93%
Investment Securities (TE)
(A)(B) 578,080 4.43% 561,277 4.29%
Other Earning Assets 48,213 3.64% 37,658 2.03%
Total Earning Assets 2,460,357 5.51% 2,106,573 5.15%
Allowance for Loan Losses (24,484) (19,319)
Nonearning Assets 260,856 215,259
Total Assets $2,696,729 $2,302,513

LIABILITIES AND SHAREHOLDERS'
EQUITY
Interest-bearing Liabilities:
Deposits:
NOW Accounts $559,124 1.60% $506,120 1.04%
Savings and Money Market
Accounts 465,805 1.20% 401,771 0.77%
Certificates of Deposit 720,692 2.80% 624,640 2.38%
Total Interest-bearing
Deposits 1,745,621 1.99% 1,532,531 1.51%
Short-term Borrowings 165,522 2.37% 177,116 1.24%
Long-term Debt 242,364 4.19% 162,328 4.27%
Total Interest-bearing
Liabilities 2,153,507 2.27% 1,871,975 1.73%
Noninterest-bearing Demand
Deposits 266,059 203,839
Noninterest-bearing Liabilities 15,343 18,497
Total Liabilities 2,434,909 2,094,311
Shareholders' Equity 261,820 208,202
Total Liabilities and
Shareholders' Equity $2,696,729 $2,302,513

Net Earning Assets $306,850 $234,598
Net Interest Spread $62,865 3.24% $55,316 3.42%
Tax-equivalent Benefit 2,421 0.13% 2,082 0.13%
Net Interest Income (TE) / Net
Interest Margin (TE) (A) $65,286 3.52% $57,398 3.62%

(A) Fully taxable equivalent (TE) calculations include the tax benefit
associated with related income sources that are tax-exempt using a
marginal tax rate of 35%.
(B) Balances exclude unrealized gain or loss on securities available for
sale and impact of trade date accounting.

IBERIABANK CORPORATION
RECONCILIATION TABLE
(dollars in thousands)

For The Three Months Ended
9/30/2005 6/30/2005 9/30/2004

Net Interest Income $21,042 $21,275 $19,231
Effect of Tax Benefit on Interest
Income 828 805 719
Net Interest Income (TE) (A) 21,870 22,080 19,950
Noninterest Income 6,640 6,745 5,857
Effect of Tax Benefit on Noninterest
Income 275 272 239
Noninterest Income (TE) (A) 6,915 7,017 6,096
Total Revenues (TE) (A) $28,785 $29,097 $26,046

Total Noninterest Expense $15,773 $16,047 $14,229
Less Intangible Amortization Expense (307) (316) (222)
Tangible Operating Expense (B) $15,466 $15,731 $14,007

Return on Average Equity (2.00%) 12.22% 13.34%
Effect of Intangibles (B) (0.74%) 8.04% 6.89%
Return on Average Tangible Equity (B) (2.74%) 20.26% 20.23%

Efficiency Ratio 57.0% 57.3% 56.7%
Effect of Tax Benefit Related to Tax
Exempt Income (2.2%) (2.1%) (2.1%)
Efficiency Ratio (TE) (A) 54.8% 55.2% 54.6%
Effect of Amortization of Intangibles (1.1%) (1.1%) (0.8%)
Tangible Efficiency Ratio (TE) (A) (B) 53.7% 54.1% 53.8%

(A) Fully taxable equivalent (TE) calculations include the tax benefit
associated with related income sources that are tax-exempt using a
marginal tax rate of 35%.
(B) Tangible calculations eliminate the effect of goodwill and
acquisition related intangible assets and the corresponding
amortization expense on a tax-effected basis where applicable.