IBERIABANK Corporation Reports Record Second Quarter Earnings
PRNewswire-FirstCall
LAFAYETTE, La.

IBERIABANK Corporation , the holding company of the 118-year-old IBERIABANK (http://www.iberiabank.com/ ), announced earnings of $8.1 million for the quarter ended June 30, 2005, a 25% increase over the same period in 2004, and an 11% increase compared to the first quarter of 2005 ("linked quarter basis"). The Company earned $1.03 per diluted share for the quarter, up 17% from the same period in 2004, and up 9% on a linked quarter basis.

The acquisition of American Horizons Bancorp, Inc. ("American Horizons") was completed on January 31, 2005. The financial results prior to this date were not influenced by the acquisition, the first quarter of 2005 had a partial impact of two months including one-time merger related charges of $0.4 million on an after-tax basis, or $0.06 per share, and the second quarter of 2005 had the full effect of the acquisition. Excluding the one-time merger related charges in the first quarter of 2005, the Company reported net income of $15.9 million for the six-month period ended June 30, 2005, up 22% compared to the six-month period ended June 30, 2004. On the same basis, fully diluted earnings per share ("EPS") for the first six months of 2005 were $2.03, up 14% compared to the same period in 2004.

  Additional Highlights For The Quarter Ended June 30, 2005

   *  Total assets were $2.7 billion at June 30, 2005, up 15% compared to
      one year ago.  Similarly, compared to one year ago, total deposits
      were $2.0 billion, up 13% and total loans were $1.8 billion, up 20%.
      The Company experienced tempered loan growth due to portfolio
      management activities associated with the American Horizons
      acquisition and moderate internal growth.

   *  Tax-equivalent net interest margin was 3.54%, down two basis points
      compared to 3.56% in the first quarter of 2005.  The yield on average
      earning assets climbed 12 basis points, and the cost of interest
      bearing liabilities increased 17 basis points.  Average non-interest
      bearing demand deposits increased 10% on a linked quarter basis.

   *  For the second quarter of 2005, return on average assets ("ROA") was
      1.20%, return on average equity ("ROE") was 12.22% and return on
      average tangible equity was 20.26%.

   *  Nonperforming assets ("NPAs") decreased by $0.4 million, or 6%,
      between March 31, 2005 and June 30, 2005.  NPAs as a percentage of
      total assets were 0.27% at June 30, 2005 compared to 0.29% at
      March 31, 2005, and 0.21% one year ago. At June 30, 2005, coverage
      ratios of nonperforming loans and nonperforming assets were 354% and
      339%, respectively. During the second quarter of 2005, the provision
      for loan losses covered net charge-offs by 1.0 times.

   *  During the second quarter of 2005, the Company recorded security
      losses of $33,000 and mortgage loan gains of $0.5 million.  Comparable
      figures for the first quarter of 2005 were gains of $5,000 and
      $0.6 million, respectively.  For the fourth quarter of 2004, the
      comparable figures were gains of $0.3 million and $0.7 million,
      respectively.

   *  Tier 1 leverage ratio was 7.61% at June 30, 2005, down 43 basis points
      from 8.04% at March 31, 2005, and up 49 basis points compared to one
      year ago. At June 30, 2005, the Company's Tier 1 risk-based capital
      ratio was 11.01%, and total risk-based capital ratio was 12.27%.

   *  On June 20, 2005, the Company declared a quarterly cash dividend of
      $0.30 per share, an increase of 15% compared to the same quarter last
      year. Over the last twelve quarters, the Company has increased the
      quarterly cash dividend by 67%. The dividend payout ratio was 27.8% in
      the second quarter of 2005, compared to 29.4% in the first quarter of
      2005 (27.8% excluding the one-time merger related charges associated
      with American Horizons).

   *  The Company completed a 175,000-share repurchase program on May 4,
      2005, at an average cost of $59.04 per share.  On May 4, 2005, the
      Company commenced a new share repurchase program totaling 300,000
      shares. During the second quarter of 2005, the Company purchased
      167,758 shares at an average cost of $59.03 per share under this
      program.

Daryl G. Byrd, President and CEO of IBERIABANK Corporation, remarked, "The American Horizons' assimilation process in north Louisiana continues to progress very well." Byrd commented, "Our north Louisiana franchise continued to expand with the recent naming of Mark Evans as President of the Shreveport market. Mark joined us from AmSouth Bank, where he was Commercial Sales Manager responsible for North and Central Louisiana, East Texas and South Arkansas."

Total shareholders' equity decreased $2 million, or 1%, compared to March 31, 2005, and increased nearly $60 million, or 29% compared to one year ago. At June 30, 2005 the Company's equity-to-assets ratio was 9.74%, essentially unchanged compared to 9.73% at March 31, 2005 and up 105 basis points from 8.69% one year ago. Book value per share at June 30, 2005 was $35.00, up $0.45 per share or 1% compared to March 31, 2005 and up 18% compared to one year ago. Tangible book value per share increased 1% compared to March 31, 2005 and 9% compared to one year ago.

Loans And Deposits

Total loans remained essentially unchanged between March 31, 2005 and June 30, 2005. The Company regularly undergoes a credit portfolio review process, particularly as new credits are added in acquisitions. As a result of the portfolio management process undertaken after completion of the American Horizons acquisition and a few anticipated pay downs, loan growth was tempered during the quarter. The Company's commercial loan pipeline remains extremely strong. In the quarter ended June 30, 2005, the yield on the commercial loan portfolio climbed 23 basis points on a linked quarter basis to 5.66%.

Residential mortgage loans increased $10 million, or 2% compared to March 31, 2005. The average yield on mortgage loans decreased two 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 $27 million, down 5% compared to March 31, 2005, and down 17% since year-end 2004. Private banking mortgages increased $12 million, or 9%, during the quarter. At June 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 volume of mortgage loan originations totaled $67 million in the second quarter of 2005, up 33% compared to the first quarter of 2005. The pipeline of mortgage loans in process at June 30, 2005 was $67 million compared to $60 million at March 31, 2005. During the second quarter of 2005, the Company sold into the secondary market $7 million in residential mortgage loans recently released from construction that were held in the loan portfolio compared to $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. Loan sale gains were approximately equal on a linked quarter basis at $0.5 million.

The Company experienced strong deposit growth in the first quarter of 2005, followed by a leveling off in the second quarter of 2005. The Company's cost of average interest-bearing deposits increased 17 basis points on a linked quarter basis. The yield on average NOW accounts edged up 9 basis points, savings and money market products increased 28 basis points and the yield on average CDs increased 18 basis points.

Investment Portfolio And Funding

The investment portfolio totaled $580 million at June 30, 2005, a decline of $20 million or 3% compared to March 31, 2005. As a percentage of assets, the investment portfolio declined from 25% at June 30, 2004 to 22% at March 31, 2005, and 21% at June 30, 2005. The book yield on the investment portfolio remained unchanged on a linked quarter basis. Bond premium amortization was unchanged at $0.6 million in the second quarter of 2005, compared to the first quarter of 2005. 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 three quarters.

The Company's investment portfolio compressed and shortened significantly during the quarter. At June 30, 2005, the portfolio had a modified duration of 3.1 years compared to 3.5 years at March 31, 2005 and 3.6 years at December 31, 2004. The Company's investment portfolio has very limited extension risk. Based on modeling at June 30, 2005, a parallel and instantaneous 300 basis point increase in interest rates would extend the portfolio by only 0.6 years. At current projected speeds, the portfolio is expected to generate approximately $146 million in cash flows over the next 18 months. The portfolio had an unrealized loss of $0.5 million at June 30, 2005 compared to $5.5 million at March 31, 2005, and an unrealized gain of $2.1 million at year-end 2004.

The Company regularly reviews the influence of interest rates on the Company's profitability and earnings growth prospects. Asset/liability management modeling at June 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 0.4%. Similarly, a 100 basis point decrease in interest rates would be expected to increase net interest income by 1.1%. The influence of a flattening yield curve, using the forward curve as a guide, would have an anticipated positive impact on net interest income of 0.7% compared to the base case scenario of no change in interest rates.

Asset Quality

Asset quality statistics remained outstanding at June 30, 2005 compared to peer levels. 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 $7.4 million at June 30, 2005, down $0.4 million compared to March 31, 2005. NPAs equated to 0.27% of total assets compared to 0.25% of total assets at year-end 2004. The allowance for loan losses was 1.37%, unchanged compared to March 31, 2005. The Company's reserve coverage of NPAs was 339% at June 30, 2005 up from 320% at March 31, 2005. Loans past due 30 days or more (including nonaccruing loans) represented 0.82% of total loans at June 30, 2005 compared to 0.79% at March 31, 2005.

The ratio of net charge-offs to average loans was 0.14% in the second quarter of 2005 compared to 0.13% in the first quarter of 2005. The Company's provision for loan losses was $630,000 in the second quarter of 2005, down slightly from $650,000 in the first quarter of 2005. The provision covered net charge-offs 1.0 times in the second quarter of 2005 compared to 1.1 times in the first quarter of 2005.

Operating Results

Total tax-equivalent revenues increased $1.4 million, or 5%, on a linked quarter basis. Tax-equivalent net interest income increased $0.7 million, or 3%, between the two linked quarters. The Company's tax-equivalent net interest margin declined two basis points on a linked quarter basis.

Noninterest income in the second quarter of 2005 increased $0.7 million, or 11% on a linked quarter basis. Service charge income on deposit accounts increased approximately $0.5 million, or 17%, on a linked quarter basis, primarily due to the American Horizons acquisition and an increase in NSF fee structure. The Company recorded a $0.2 million gain from the merger of Pulse and Discover networks in the first quarter of 2005. Management estimates nonrecurring items during the second quarter of 2005 had a net favorable impact of approximately $0.1 million on a pre-tax basis.

Noninterest expenses increased $0.4 million, or 2% on a linked quarter basis. Excluding one-time merger-related costs, the comparable figures were $1.0 million and 7%, respectively. The Company's tax-equivalent tangible efficiency ratio (a measure of a bank's operating efficiency) decreased from 55.6% in the first quarter of 2005 to 54.1% in the second quarter of 2005. Excluding one-time merger related costs, the tangible efficiency ratio in the first quarter of 2005 was 53.3%.

Management confirmed today that, exclusive of one-time merger related costs associated with the acquisition of American Horizons and the impact of potential costs associated with changes in accounting rules, the 2005 EPS comfort range for the Company remains $4.05 to $4.15 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.

Based on a closing stock price on July 20, 2005 of $67.00 per share, the Company's common stock traded at a price-to-earnings ratio of 16.5 times current average analyst estimates of $4.06 per fully diluted EPS for 2005, and 14.8 times average EPS estimates of $4.53 for 2006. In addition, the Company's stock traded at 1.91 times June 30, 2005 book value per share of $35.00. On June 20, 2005, the Company declared a quarterly cash dividend of $0.30 per share, payable to shareholders of record as of June 30, 2005. This dividend level represented a 15% increase over the same period last year and equated to an annualized dividend rate of $1.20 per share and an indicated dividend yield of 1.79%.

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, July 21, 2005, beginning at 9:00 a.m. Central Time by dialing 1-877-209-0397. The confirmation code for the call is 784971. A replay of the call will be available until midnight Central Time on July 28, 2005 by dialing 1-800-475-6701. The confirmation code for the replay is 784971.

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 41 offices located in New Orleans, Baton Rouge, Shreveport, Northeast Louisiana, and the Acadiana region of Louisiana. Information regarding the Company can be obtained by visiting the Company's website at www.iberiabank.com. The Company's common stock trades on NASDAQ under the symbol "IBKC" and the Company's market capitalization is approximately $505 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 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, www.sec.gov , and the Company's website, www.iberiabank.com .

                             IBERIABANK CORPORATION
                              FINANCIAL HIGHLIGHTS

                                                                  For The
                                     For The Quarter Ended     Quarter Ended
                                             June 30,            March 31,
                                    2005       2004  %Change   2005  %Change

  Income Data (in thousands):
    Net Interest Income           $21,275    $18,121   17%    $20,549    4%
    Net Interest Income (TE)(A)    22,080     18,802   17%     21,336    3%
    Net Income                      8,128      6,487   25%      7,300   11%

  Per Share Data:
    Net Income - Basic              $1.10      $0.96   15%      $1.02    8%
    Net Income - Diluted             1.03       0.88   17%       0.94    9%

    Book Value                      35.00      29.74   18%      34.55    1%
    Tangible Book Value (B)         21.54      19.74    9%      21.25    1%
    Cash Dividends                   0.30       0.26   15%       0.28    7%

  Number of Shares Outstanding:
    Basic Shares (Average)      7,387,134  6,784,770    9%  7,191,083    3%
    Diluted Shares (Average)    7,888,533  7,339,858    7%  7,739,962    2%
    Book Value Shares
     (Period End) (E)           7,537,963  6,870,080   10%  7,685,918   (2%)

  Key Ratios: ©
    Return on Average Assets        1.20%      1.12%            1.13%
    Return on Average Equity       12.22%     12.42%           11.75%
    Return on Average Tangible
     Equity (B)                    20.26%     18.90%           18.70%
    Net Interest Margin (TE)(A)     3.54%      3.54%            3.56%
    Efficiency Ratio                57.3%      58.5%            58.9%
    Tangible Efficiency Ratio
     (TE) (A) (B)                   54.1%      55.5%            55.6%
    Average Loans to Average
     Deposits                       90.4%      84.5%            91.4%
    Nonperforming Assets to
     Total Assets (D)               0.27%      0.21%            0.29%
    Allowance for Loan Losses
     to Loans                       1.37%      1.29%            1.37%
    Net Charge-offs to Average
     Loans                          0.14%      0.11%            0.13%
    Average Equity to Average
     Total Assets                   9.80%      9.01%            9.59%
    Tier 1 Leverage Ratio           7.61%      7.12%            8.04%
    Dividend Payout Ratio           27.8%      27.5%            29.4%


   (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.
   ©  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)                      June 30,          March 31,  Dec. 31,
                             2005       2004   %Change     2005       2004
  ASSETS
  Cash and Due From Banks  $48,514    $46,360    4.6%    $50,020    $33,927
  Interest-bearing Deposits
   in Banks                 13,615     15,070   (9.7%)    14,059     19,325
     Total Cash and
      Equivalents           62,129     61,430    1.1%     64,079     53,252
  Investment Securities
   Available for Sale      548,972    544,839    0.8%    566,921    526,933
  Investment Securities
   Held to Maturity         31,226     44,841  (30.4%)    32,782     40,022
     Total Investment
      Securities           580,198    589,680   (1.6%)   599,703    566,955
  Mortgage Loans Held
   for Sale                 16,546      6,273  163.8%     10,846      8,109
  Loans, Net of Unearned
   Income                1,830,070  1,529,362   19.7%  1,833,997  1,650,626
  Allowance for Loan
   Losses                  (25,102)   (19,683)  27.5%    (25,091)   (20,116)
     Loans, net          1,804,968  1,509,679   19.6%  1,808,906  1,630,510
  Premises and Equipment    47,548     36,728   29.5%     47,769     39,557
  Goodwill and Acquisition
   Intangibles             101,436     68,665   47.7%    102,202     68,310
  Mortgage Servicing
   Rights                      133        224  (40.8%)       153        176
  Other Assets              95,748     79,091   21.1%     96,355     81,733
     Total Assets       $2,708,706 $2,351,770   15.2% $2,730,013 $2,448,602


  LIABILITIES AND
   SHAREHOLDERS' EQUITY
  Noninterest-bearing
   Deposits               $264,439   $216,111   22.4%   $265,278   $218,859
  Interest-bearing
   Deposits              1,760,201  1,576,580   11.6%  1,766,457  1,554,630
     Total Deposits      2,024,640  1,792,691   12.9%  2,031,735  1,773,489
  Short-term Borrowings    119,500    139,000  (14.0%)    92,000    192,000
  Securities Sold Under
   Agreements to Repurchase 41,850     48,128  (13.0%)    77,706     44,453
  Long-term Debt           243,652    155,500   56.7%    239,555    206,089
  Other Liabilities         15,256     12,142   25.6%     23,470     12,409
     Total Liabilities   2,444,898  2,147,461   13.9%  2,464,466  2,228,440
  Total Shareholders'
   Equity                  263,808    204,309   29.1%    265,547    220,162
     Total Liabilities
      and Shareholders'
      Equity            $2,708,706 $2,351,770   15.2% $2,730,013 $2,448,602



                       For The Three Months Ended   For The Six Months Ended
  INCOME STATEMENT               June 30,                   June 30,
                         2005     2004   % Change   2005     2004   % Change

  Interest Income      $33,549  $26,194    28.1%  $65,002  $51,594    26.0%
  Interest Expense      12,274    8,073    52.0%   23,179   15,509    49.5%
     Net Interest
      Income            21,275   18,121    17.4%   41,823   36,085    15.9%
  Provision for Loan
   Losses                  630      705   (10.6%)   1,280    1,759   (27.2%)
     Net Interest
      Income After
      Provision for
      Loan Losses       20,645   17,416    18.5%   40,543   34,326    18.1%
  Service Charges        3,684    3,043    21.1%    6,824    5,949    14.7%
  ATM / Debit Card Fee
   Income                  692      519    33.4%    1,300      951    36.7%
  BOLI Cash Surrender
   Value Income            505      389    29.8%      961      766    25.4%
  Gain on Sale of
   Loans, net              549      605    (9.2%)   1,107    1,467   (24.5%)
  Other Gains (Losses)     182      361   (49.6%)     223      514   (56.5%)
  Other Noninterest
   Income                1,133      912    24.3%    2,412    1,734    39.1%
     Total Noninterest
      Income             6,745    5,829    15.7%   12,827   11,381    12.7%
  Salaries and
   Employee Benefits     8,233    7,521     9.5%   16,472   14,634    12.6%
  Occupancy and
   Equipment             2,034    1,713    18.8%    3,923    3,414    14.9%
  Amortization of
   Acquisition
   Intangibles             316      234    35.0%      601      452    32.9%
  Other Noninterest
   Expense               5,464    4,550    20.1%   10,727    8,728    22.9%
     Total Noninterest
      Expense           16,047   14,018    14.5%   31,723   27,228    16.5%
     Income Before
      Income Taxes      11,343    9,227    22.9%   21,647   18,479    17.1%
  Income Taxes           3,215    2,740    17.3%    6,219    5,501    13.1%
     Net Income         $8,128   $6,487    25.3%  $15,428  $12,978    18.9%

  Earnings Per Share,
   diluted               $1.03    $0.88    16.6%    $1.97    $1.78    10.9%



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

  BALANCE SHEET                        For The Quarter Ended
  (Average)             June 30,   March 31,  Dec. 31,   Sept. 30,  June 30,
                          2005       2005       2004       2004       2004
  ASSETS
  Cash and Due From
   Banks                $47,205    $47,632    $39,343    $39,467    $59,721
  Interest-bearing
   Deposits in Banks     16,326     21,648     22,207     12,921     16,295
  Investment Securities 590,950    575,846    574,843    599,601    586,466
  Mortgage Loans Held
   for Sale              12,436     10,360     12,209      8,488      9,375
  Loans, Net of
   Unearned Income    1,836,362  1,771,488  1,627,276  1,566,672  1,496,990
  Allowance for Loan
   Losses               (25,104)   (23,142)   (19,994)   (19,722)   (19,509)
  Other Assets          245,529    223,067    189,576    188,034    180,308
     Total Assets    $2,723,704 $2,626,899 $2,445,460 $2,395,461 $2,329,646


  LIABILITIES AND
   SHAREHOLDERS' EQUITY
  Noninterest-bearing
   Deposits            $267,004   $243,738   $223,921   $212,931   $208,417
  Interest-bearing
   Deposits           1,763,875  1,693,723  1,556,184  1,556,492  1,563,058
     Total Deposits   2,030,879  1,937,461  1,780,105  1,769,423  1,771,475
  Short-term
   Borrowings           120,138    141,020    171,522    181,658    127,380
  Securities Sold Under
   Agreements to
   Repurchase            51,805     50,550     51,240     45,891     42,271
  Long-term Debt        240,637    228,035    206,317    175,032    155,710
  Other Liabilities      13,430     17,943     18,194     13,596     22,793
     Total
      Liabilities     2,456,889  2,375,009  2,227,378  2,185,600  2,119,629
  Total Shareholders'
   Equity               266,815    251,890    218,082    209,861    210,017
     Total Liabilities
      and Shareholders'
      Equity         $2,723,704 $2,626,899 $2,445,460 $2,395,461 $2,329,646



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

  Interest Income               $33,549  $31,454  $28,969  $28,047  $26,194
  Interest Expense               12,274   10,905    9,657    8,816    8,073
     Net Interest Income         21,275   20,549   19,312   19,231   18,121
  Provision for Loan Losses         630      650    1,425      857      705
     Net Interest Income After
      Provision for Loan Losses  20,645   19,899   17,887   18,374   17,416
  Total Noninterest Income        6,745    6,081    5,979    5,857    5,829
  Total Noninterest Expense      16,047   15,676   13,440   14,229   14,018
     Income Before Income Taxes  11,343   10,304   10,426   10,002    9,227
  Income Taxes                    3,215    3,004    3,101    2,966    2,740
     Net Income                  $8,128   $7,300   $7,325   $7,036   $6,487

  Earnings Per Share, basic       $1.10    $1.02    $1.09    $1.05    $0.96

  Earnings Per Share, diluted     $1.03    $0.94    $1.01    $0.97    $0.88

  Book Value Per Share           $35.00   $34.55   $32.03   $31.12   $29.74

  Return on Average Assets        1.20%    1.13%    1.19%    1.17%    1.12%
  Return on Average Equity       12.22%   11.75%   13.36%   13.34%   12.42%
  Return on Average Tangible
   Equity                        20.26%   18.70%   19.84%   20.23%   18.90%



                            IBERIABANK CORPORATION
                 CONDENSED CONSOLIDATED FINANCIAL INFORMATION
                            (dollars in thousands)

  LOANS RECEIVABLE                 June 30,            March 31,   Dec. 31,
                        2005        2004    % Change     2005        2004
  Residential Mortgage
   Loans:
     Residential 1-4
      Family          $407,726    $357,635    14.0%    $396,480    $387,085
     Construction       27,329      39,612   (31.0%)     28,815      33,031
       Total Residential
        Mortgage Loans 435,055     397,247     9.5%     425,295     420,116
  Commercial Loans:
     Real Estate       516,377     372,084    38.8%     531,601     419,427
     Business          332,603     258,573    28.6%     338,863     307,614
       Total Commercial
        Loans          848,980     630,657    34.6%     870,464     727,041
  Consumer Loans:
     Indirect
      Automobile       229,910     228,183     0.8%     223,287     222,481
     Home Equity       239,770     205,033    16.9%     236,800     213,533
     Automobile         23,711      22,673     4.6%      25,321      20,064
     Credit Card Loans   8,123       8,321    (2.4%)      7,824       8,743
     Other              44,521      37,248    19.5%      45,006      38,648
       Total Consumer
        Loans          546,035     501,458     8.9%     538,238     503,469
       Total Loans
        Receivable   1,830,070   1,529,362    19.7%   1,833,997   1,650,626
  Allowance for
   Loan Losses         (25,102)    (19,683)             (25,091)    (20,116)
     Loans Receivable,
      Net           $1,804,968  $1,509,679           $1,808,906  $1,630,510




  ASSET QUALITY DATA                       June 30,       March 31, Dec. 31,
                                     2005    2004  % Change   2005    2004
  Nonaccrual Loans                  $6,558  $3,284    99.7%  $6,663  $4,455
  Foreclosed Assets                     60      21   188.3%      39       9
  Other Real Estate Owned              240     317   (24.3%)    258     483
  Accruing Loans More Than 90 Days
   Past Due                            540   1,336   (59.6%)    887   1,209
  Total Nonperforming Assets (A)    $7,398  $4,958    49.2%  $7,847  $6,156

  Nonperforming Assets to Total
   Assets (A)                        0.27%   0.21%    29.6%   0.29%   0.25%
  Nonperforming Assets to Total
   Loans + OREO (A)                  0.40%   0.32%    24.7%   0.43%   0.37%
  Allowance for Loan Losses to
   Nonperforming Loans (A)          353.6%  426.0%   (17.0%) 332.3%  355.2%
  Allowance for Loan Losses to
   Nonperforming Assets (A)         339.3%  397.0%   (14.5%) 319.8%  326.8%
  Allowance for Loan Losses to
   Total Loans                       1.37%   1.29%     6.6%   1.37%   1.22%
  Year to Date Charge-offs          $2,036  $1,330    53.1%    $983  $4,112
  Year to Date Recoveries             $849    $438    93.9%    $415  $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                          June 30,            March 31,   Dec. 31,
                          2005       2004    % Change     2005        2004

  Noninterest-bearing
   Demand Accounts     $264,439    $216,111    22.4%    $265,278    $218,859
  NOW Accounts          546,859     535,615     2.1%     583,083     532,584
  Savings and Money
   Market Accounts      483,057     410,427    17.7%     450,933     393,772
  Certificates of
   Deposit              730,285     630,538    15.8%     732,441     628,274
     Total Deposits  $2,024,640  $1,792,691    12.9%  $2,031,735  $1,773,489



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

                                             For The Quarter Ended
                                        June 30, 2005        June 30, 2004
                                                 Average             Average
                                    Average       Yield/    Average  Yield/
                                    Balance       Rate(%)   Balance  Rate(%)
  ASSETS
  Earning Assets:
    Loans Receivable:
      Mortgage Loans                $432,901       5.32%    $388,581  5.48%
      Commercial Loans (TE) (A)      863,027       5.66%     614,934  4.68%
      Consumer and Other Loans       540,434       6.75%     493,475  6.52%
        Total Loans                1,836,362       5.90%   1,496,990  5.50%
  Mortgage Loans Held for Sale        12,436       5.51%       9,375  5.52%
  Investment Securities (TE)(A)(B)   592,947       4.43%     579,011  4.12%
  Other Earning Assets                43,509       3.66%      37,250  1.90%
        Total Earning Assets       2,485,254       5.51%   2,122,626  5.06%
  Allowance for Loan Losses          (25,104)                (19,509)
  Nonearning Assets                  263,554                 226,529
        Total Assets              $2,723,704              $2,329,646


  LIABILITIES AND
   SHAREHOLDERS' EQUITY
  Interest-bearing Liabilities:
     Deposits:
        NOW Accounts                $559,752       1.57%    $524,380  1.01%
        Savings and Money Market
         Accounts                    472,989       1.20%     406,582  0.80%
        Certificates of Deposit      731,134       2.79%     632,096  2.40%
           Total Interest-bearing
            Deposits               1,763,875       1.97%   1,563,058  1.52%
     Short-term Borrowings           171,943       2.42%     169,651  1.14%
     Long-term Debt                  240,637       4.18%     155,710  4.30%
           Total Interest-bearing
            Liabilities            2,176,455       2.25%   1,888,419  1.71%
  Noninterest-bearing Demand
   Deposits                          267,004                 208,417
  Noninterest-bearing Liabilities     13,430                  22,793
           Total Liabilities       2,456,889               2,119,629
  Shareholders' Equity               266,815                 210,017
           Total Liabilities and
            Shareholders' Equity  $2,723,704              $2,329,646


  Net Earning Assets                $308,799                $234,207
  Net Interest Spread                $21,275       3.26%     $18,121  3.35%
  Tax-equivalent Benefit                $805       0.13%        $681  0.13%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (A)          $22,080       3.54%     $18,802  3.54%


   (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 Six Months Ended
                                       June 30, 2005         June 30, 2004
                                                  Average            Average
                                     Average      Yield/    Average  Yield/
                                     Balance      Rate(%)   Balance  Rate(%)
  ASSETS
  Earning Assets:
    Loans Receivable:
      Mortgage Loans                $428,447       5.33%    $387,225  5.54%
      Commercial Loans (TE) (A)      843,998       5.55%     592,425  4.76%
      Consumer and Other Loans       531,659       6.71%     483,421  6.63%
        Total Loans                1,804,104       5.84%   1,463,071  5.58%
  Mortgage Loans Held for Sale        11,404       5.22%      10,434  4.99%
  Investment Securities (TE)(A)(B)   581,311       4.43%     541,370  4.22%
  Other Earning Assets                46,073       3.35%      38,320  1.86%
        Total Earning Assets       2,442,892       5.45%   2,053,195  5.15%
   Allowance for Loan Losses         (24,128)                (19,115)
   Nonearning Assets                 256,805                 221,449
        Total Assets              $2,675,569              $2,255,529

  LIABILITIES AND
   SHAREHOLDERS' EQUITY
  Interest-bearing Liabilities:
     Deposits:
        NOW Accounts                $567,564       1.52%    $500,915  0.98%
        Savings and Money Market
         Accounts                    447,688       1.07%     396,037  0.76%
        Certificates of Deposit      713,741       2.70%     623,467  2.35%
           Total Interest-bearing
            Deposits               1,728,993       1.89%   1,520,419  1.49%
     Short-term Borrowings           181,703       2.24%     151,622  1.14%
     Long-term Debt                  234,370       4.18%     155,907  4.30%
           Total Interest-bearing
            Liabilities            2,145,066       2.17%   1,827,948  1.70%
  Noninterest-bearing Demand
   Deposits                          255,436                 199,243
  Noninterest-bearing Liabilities     15,673                  20,974
           Total Liabilities       2,416,175               2,048,165
  Shareholders' Equity               259,394                 207,364
           Total Liabilities and
            Shareholders' Equity  $2,675,569              $2,255,529


  Net Earning Assets                $297,826                $225,247
  Net Interest Spread                $41,823       3.28%     $36,085  3.45%
  Tax-equivalent Benefit              $1,592       0.13%      $1,364  0.13%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (A)          $43,415       3.55%     $37,449  3.64%


   (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
                                          6/30/2005   3/31/2005   6/30/2004

  Net Interest Income                      $21,275     $20,549     $18,121
  Effect of Tax Benefit on Interest
   Income                                      805         787         681
      Net Interest Income (TE) (A)          22,080      21,336      18,802
  Noninterest Income                         6,745       6,081       5,829
  Effect of Tax Benefit on Noninterest
   Income                                      272         246         209
      Noninterest Income (TE) (A)            7,017       6,327       6,038
       Total Revenues (TE) (A)             $29,097     $27,663     $24,840

  Total Noninterest Expense                $16,047     $15,676     $14,018
  Less Intangible Amortization Expense        (316)       (284)       (234)
      Tangible Operating Expense (B)       $15,731     $15,392     $13,784

  Return on Average Equity                  12.22%      11.75%      12.42%
    Effect of Intangibles (B)                8.04%       6.95%       6.48%
  Return on Average Tangible Equity (B)     20.26%      18.70%      18.90%

  Efficiency Ratio                           57.3%       58.9%       58.5%
  Effect of Tax Benefit Related to Tax
   Exempt Income                             (2.1%)      (2.2%)      (2.1%)
    Efficiency Ratio (TE) (A)                55.2%       56.7%       56.4%
  Effect of Amortization of Intangibles      (1.1%)      (1.1%)      (0.9%)
    Tangible Efficiency Ratio (TE) (A)(B)    54.1%       55.6%       55.5%


   (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.

SOURCE: IBERIABANK Corporation

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
Corporation