IBERIABANK Corporation Announces Cash Dividend

The Board of Directors of IBERIABANK Corporation , announced the declaration of a quarterly cash dividend of $0.24 per share, up 20% from the same quarter last year. The dividend is payable on April 14, 2004 to shareholders of record as of March 31, 2004. This dividend level equates to an annualized dividend rate of $0.96 per share. Based on the closing stock price on March 15, 2004 of $60.56 per share, the indicated dividend yield is 1.58%. The dividend payout ratio, defined as quarterly dividends divided by net income, has been in the range of 23% to 26% in each of the last eight quarters since January 1, 2002, despite the significant increase in the quarterly dividend rate during that period.

Daryl G. Byrd, President and Chief Executive Officer of IBERIABANK Corporation commented, "We are delighted to provide to our shareholders a quarterly cash dividend that recognizes the exceptional financial strength of our Company and the confidence we have in our future."

At December 31, 2003, IBERIABANK Corporation had assets of $2.1 billion, shareholders' equity of $196 million and a Tier 1 Leverage capital ratio of 7.50%. The Company's common stock trades on the NASDAQ Stock Market under the symbol "IBKC".

IBERIABANK Corporation shareholders may take advantage of the Company's Dividend Reinvestment Plan. This program provides a convenient, economical way for shareholders to increase their holdings of the Company's common stock. The shareholder pays no brokerage commissions or service charges while participating in the plan.

To enroll in IBERIABANK Corporation's Dividend Reinvestment Plan, shareholders must have their stock certificate numbers and complete an enrollment form. Enrollment forms and a summary of the plan are available from the Registrar and Transfer Company by calling (800) 368-5948.

IBERIABANK operates full service offices in south central Louisiana, north Louisiana and the greater New Orleans area. The deposits of IBERIABANK are insured by the Federal Deposit Insurance Corporation to the full extent provided for by law and regulation.


CONTACT: Daryl G. Byrd, President and CEO, +1-337-521-4003, or John R.
Davis, Senior Executive Vice President, +1-337-521-4005, both of IBERIABANK