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

IBERIABANK Corporation , the holding company of the 119-year-old IBERIABANK (http://www.iberiabank.com/ ), announced earnings of $8.9 million for the quarter ended June 30, 2006, a 9% increase over the same period in 2005, and fully diluted earnings per share ("EPS") of $0.89 for the second quarter of 2006, an 8% increase over the same quarter of 2005. The reported EPS for the second quarter of 2006 of $0.89 exceeded the consensus analyst estimate by $0.04 per share.

   Highlights For The Quarter Ended June 30, 2006

   * Average deposits increased $76 million, or 3%, between the first and
     second quarters of 2006 ("linked quarter basis").  Similarly, period-
     end deposits climbed $43 million, or 2%, between March 31, 2006 and
     June 30, 2006.  Period-end deposits increased $344 million, or 17% over
     a one year time frame, including an $84 million, or 32%, increase in
     noninterest bearing deposits.

   * Average loans increased $58 million, or 3%, on a linked quarter basis.
     Similarly, period-end loans climbed $77 million, or 4%, between
     March 31, 2006 and June 30, 2006.  As loan growth exceeded deposit
     growth during the quarter, the Company's excess liquidity position
     declined.  Over the last year, period end loans increased $203 million,
     or 11%.

   * Asset quality and coverage statistics continue to remain outstanding.
     Annualized net charge-offs equated to 0.02% of average loans in each of
     the first and second quarters in 2006.  During the quarter just
     completed, the Company determined a significant portion of the reserve
     for loan losses taken in the third quarter of 2005 associated with
     Hurricane Rita was no longer appropriate.  As a result of this
     determination and continued exceptional asset quality of the loan
     portfolio not affected by the hurricanes the Company recorded a $1.9
     million negative loan loss provision in the second quarter of 2006.

   * At the end of the second quarter of 2006, the Company sold $42 million
     in investment securities and recorded a $1.4 million loss on the sale
     of the securities.  The investment securities sold had a weighted
     average yield of 3.88%.  Subsequent to this sale, investment securities
     with approximately similar durations were purchased yielding an average
     of 5.53%.

   * The Company opened a new full service branch office during the second
     quarter of 2006, in LaPlace, Louisiana.  The Company opened two new
     offices in late 2005 and four offices in the first half of 2006, or a
     total of six new offices opened under the Company's branch expansion
     initiative.  The estimated net after-tax cost of the branch expansion
     initiative was $0.05 per share in the second quarter of 2006.

Total assets climbed to $3.0 billion, deposits were $2.4 billion and loans exceeded $2.0 billion at June 30, 2006, for increases of 2%, 2%, and 4%, respectively, compared to March 31, 2006. The Company continued to experience strong deposit growth for the fourth consecutive quarter. Deposit growth during the second quarter of 2006 was concentrated primarily in the Shreveport and Baton Rouge markets.

Total loan growth increased $77 million, or 4%, compared to March 31, 2006. During the period, commercial loans climbed $44 million, or 5%, residential mortgage loans increased $18 million, or 4%, and construction loans grew $6 million, or 24%. Construction loans accounted for less than 2% of total loans and only 13% of total regulatory capital at June 30, 2006. Consumer loans increased $9 million, or 2% during the second quarter.

The tax-equivalent net interest margin declined nine basis points on a linked quarter basis, after decreasing four basis points in the first quarter of 2006. The average yield on earning assets was 5.95% in the second quarter of 2006, a 9 basis point increase on a linked quarter basis. Similarly, the cost of interest bearing liabilities was 2.91%, an increase of 20 basis points. Average noninterest bearing deposits declined $5 million on a linked quarter basis, following $2 million in the first quarter of 2006 and $48 million increase in the fourth quarter of 2005. Increased deposit rate competition was believed to be the primary source of the increase in cost of funds and the nine basis point decline in the margin in the second quarter.

Tax-equivalent net interest income improved $0.3 million, or 1%, on a linked quarter basis. The improvement in net interest income was primarily the result of average earning asset growth of $90 million, or 3%, on a linked quarter basis.

Recruiting And Branch Expansion Initiative Update

The Company reported continued success in recruiting exceptional banking talent. Since June 1, 2005, the Company recruited 40 strategic hires from various regional banking organizations. Revenues associated with this expanded staff are anticipated to materialize in 2006 and beyond. As a result, the financial impact associated with the recruits will likely soften over time as these recruits build their loan and deposit portfolios. The Company believes it has developed a strong loan origination pipeline and continues to attract high quality talent.

Daryl G. Byrd, President and Chief Executive Officer of the Company noted, "We remain keenly focused on recruiting exceptional talent, expanding our distribution system, and gaining high quality clients. I am pleased to report we continue to experience progress on all three fronts." Byrd continued, "The client and employee disruption associated with large bank mergers in our markets continues to provide our Company with unique opportunities. In addition, the resettlement and long rebuilding process in New Orleans provide us an opportunity to assist our existing client base and prospective clients."

On September 16, 2005, the Company announced an ambitious branch expansion initiative to purchase land, deploy modular facilities, purchase and install equipment, and staff and train associates for 12 new modular branch units in communities in South Louisiana. A modular banking facility was opened in April 2006 in LaPlace. Five out of six recently opened offices are modular facilities, which are full service and staffed similar to traditional "brick and mortar" facilities. Two modular facilities are currently under construction in Slidell and Prairieville, a suburb of Baton Rouge, with anticipated completion in the next few weeks. Four traditional "brick and mortar" facilities are under construction in Covington, Lafayette, Baton Rouge and Monroe. The Company has also purchased, or has contracts to purchase, land in Shreveport, Metairie, and the Baton Rouge area. The net cost of the branch expansion on EPS was $0.01 in the fourth quarter of 2005, $0.03 in the first quarter, and $0.05 in the second quarter 2006.

To date, the Company has not experienced difficulties in recruiting talent in association with the branch expansion initiative, despite significant labor shortages in selected areas. Many of the Company's markets are experiencing the effects of favorable economic conditions enhanced by escalated energy prices and extensive rebuilding work associated with Hurricanes Katrina and Rita.

Expectations For 2006

On November 22, 2005, the Company stated its expectations for the full year 2006 EPS to be in the range of $3.54 to $3.64, excluding the cost of adoption of SFAS 123R regarding expensing stock option plans. The Company anticipates application of SFAS 123R will reduce annual earnings in 2006 by approximately $0.2 million on a pre-tax basis, or $0.02 per share on an after- tax basis.

The Company's comfort range for 2006 EPS remains in the range of $3.54 to $3.64, excluding any changes in accounting treatment, such as the cost of adoption of SFAS 123R (or $3.52 to $3.62 including SFAS 123R). This comfort range includes the costs anticipated with the Company's branch expansion initiative and strategic hires, and the impacts of Hurricanes Katrina and Rita. EPS in the third quarter of 2006 is expected to be negatively affected by approximately $0.06 per share, on an after-tax basis, as a result of the branch expansion initiative.

The EPS comfort ranges provided today are based on management's current information, estimates and assumptions. One major assumption is a sustained flattening of the yield curve in 2006 as indicated in forward interest rate curves. Another major assumption is management's projected deposit growth of approximately $300 million attributable to Hurricanes Katrina and Rita. Actual levels may be materially higher or lower than projected levels. The Company anticipates providing to the investment community annual EPS guidance for 2007 during the third quarter earnings conference call in October, 2006.

   Additional Highlights For The Quarter Ended June 30, 2006

   * Net income in the second quarter of 2006 totaled $8.9 million, up 9%
     compared to one year ago and 10% on a linked quarter basis.  Return on
     average assets ("ROA") was 1.19% for the second quarter of 2006.
     Similarly, return on average equity ("ROE") was 13.19%, and return on
     average tangible equity was 21.44%.

   * Nonperforming assets ("NPAs") decreased $0.6 million, or 9%, between
     March 31, 2006 and June 30, 2006, and down 18% compared to one year
     ago.  NPAs as a percentage of total assets were 0.20% at June 30, 2006,
     compared to 0.23% at March 31, 2006, and 0.27% one year ago. Coverage
     ratios of nonperforming loans and nonperforming assets at June 30,
     2006 were 627% and 597%, respectively.

   * Average shareholders' equity increased $1 million, or less than 1%, on
     a linked quarter basis.  At June 30, 2006, the Company's equity-to-
     assets ratio was 8.95%, compared to 9.18% at March 31, 2006, and 9.74%
     one year ago.  Book value per share decreased $0.14 during the quarter
     to $27.56 at June 30, 2006.

   * Tier 1 leverage ratio was 7.46% at June 30, 2006, down slightly from
     7.59% at March 31, 2006, and 7.61% one year ago. At June 30, 2006, the
     Company's Tier 1 risk-based capital ratio was 10.20%, and the total
     risk-based capital ratio was 11.46%.  The Company purchased 99,834
     shares during the second quarter of 2006 under the repurchase program
     authorized on May 4, 2005, at an average cost of $59.22 per share.
     Approximately 17,000 shares remain authorized to be purchased under
     that program.

   * On June 20, 2006, the Company raised the quarterly cash dividend by
     $0.02 per share to $0.30 per share, an increase of 25% compared to the
     same quarter last year and a 70% increase over the last three years.

  Investment Portfolio And Interest Rate Risk

Average investment portfolio volume increased $32 million on a linked quarter basis to $648 million. On a period-end basis, the investment portfolio declined from $669 million at March 31, 2006 to $620 million at June 30, 2006. The investment portfolio equated to 21% of total assets, down from 23% at March 31, 2006. During the second quarter of 2006, the Company experienced strong loan growth, resulting in a liquidation of short-term investments.

The Company's investment portfolio lengthened slightly during the quarter. At June 30, 2006, the portfolio had a modified duration of 3.3 years compared to 3.1 years at March 31, 2006. The Company's investment portfolio has very limited extension risk. Based on modeling at June 30, 2006, a parallel and instantaneous 300 basis point increase in interest rates would extend the portfolio by only 0.1 years. At current projected speeds, the portfolio is expected to generate approximately $61 million in cash flows over the last six months of 2006 and approximately $79 million in each of 2007 and 2008. The portfolio had an unrealized loss of $20.2 million at June 30, 2006, compared to $12.6 million at March 31, 2006. The book yield on the investment portfolio increased eight basis points on a linked quarter basis.

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, 2006, 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 approximately 0.5%. Similarly, a 100 basis point decrease in interest rates would be expected to increase net interest income by approximately 0.5%. A flattening yield curve, using the forward curve as a guide, would be expected to have an insignificant impact on net interest income compared to the base case scenario of no change in interest rates.

Asset Quality

A comprehensive review during the second quarter of 2006 of the Hurricane Rita impacted loan portfolio indicated a significant improvement in client exposure and risk. As a result, the Company incurred a $1.9 million negative provision during the second quarter of 2006 primarily associated with credits in the Hurricane Rita affected area. In October 2005, the Company announced a reserve allocation of $12.8 million for credits potentially impacted by Hurricane Katrina. The Company continues to monitor progress of clients affected by Hurricane Katrina. Given uncertainties in the New Orleans market, including open concerns about insurance, flood maps, how much of the City of New Orleans will be rebuilt, and the City's vulnerability through this year's hurricane season, no change was made in the reserve methodology for Hurricane Katrina-related credits.

Exclusive of hurricane-related issues, the Company's asset quality continues to be exceptional. The ratio of net charge-offs to average loans was 0.02% in the second quarter equivalent to 0.02% in the first quarter of 2006, and 0.14% one year ago.

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 $6.1 million at June 30, 2006, equal to 0.20% of total assets at June 30, 2006. The allowance for loan losses was 1.79% at June 30, 2006 compared to 1.97% at March 31, 2006. Loans past due 30 days or more (including nonaccruing loans) represented 0.55% of total loans, down compared to 0.64% at March 31, 2006. Various segments of the Company's loan portfolio demonstrated exceptionally low levels of loans past due 30 days or more, including indirect automobile (0.76% of loans), consumer (0.91%), and commercial (0.19%).

Operating Results

Tax-equivalent net interest income increased $0.3 million, or 1%, on a linked quarter basis. The tax-equivalent net interest margin declined nine basis points, but average earning assets climbed $90 million, or 3%, on a linked quarter basis. Average loan growth of $58 million accounted for two- thirds of the growth in average earning assets during the quarter.

Noninterest income in the second quarter of 2006 declined $1.0 million, or 16%, on a linked quarter basis. In the first quarter of 2006, asset sale gains totaled less than $0.1 million. In the second quarter of 2006 the Company recorded the previously mentioned $1.4 million loss on the sale of investment securities. On a linked quarter basis in the second quarter of 2006, service charges on deposit accounts increased $0.2 million, or 8%.

Residential mortgage loan sale gains remained steady on a linked quarter basis at $0.4 million. The volume of mortgage loan originations totaled $70 million in the second quarter of 2006, compared to $49 million in the first quarter of 2006 and $52 million in the fourth quarter of 2005. The pipeline of mortgage loans in process at June 30, 2006 and March 31, 2006 was $84 million compared to $56 million at year-end 2005. During the second quarter of 2006, the Company sold into the secondary market $2 million in residential mortgage loans recently released from construction that were held in the loan portfolio. These loan sales were part of the Company's stated plan to sell into the secondary market recently originated, mortgage production, including permanent mortgage loans coming out of construction. Unlike many competitors, the Company does not originate and portfolio exotic retail mortgage products, such as negative amortization and option ARMs.

Noninterest expenses increased $0.3 million, or 2% on a linked quarter basis. Salaries and benefit costs declined $0.1 million, or 1% on a linked quarter basis. No significant hurricane-related costs were incurred during the first or second quarters of 2006.

Based on a closing stock price of $57.35 per share on July 13, 2006, the Company's common stock traded at a price-to-earnings ratio of 16.2 times current consensus analyst estimates of $3.55 per fully diluted EPS for 2006 and 13.9 times the average analyst 2007 estimate of $4.12. This price also equates to 2.08 times June 30, 2006 book value per share of $27.56. On June 20, 2006, the Company increased the quarterly cash dividend to $0.30 per share, payable to shareholders of record as of June 30, 2006. This dividend level equated to an annualized dividend rate of $1.20 per share and an indicated dividend yield of 2.09%.

In association with this earnings release, the Company will host a live conference call to discuss the financial results for the quarter just completed. The telephone conference call will be held on Friday, July 14, 2006, beginning at 8:00 a.m. Central Time by dialing 1-877-209-0397. The confirmation code for the call is 833322. A replay of the call will be available until midnight Central Time on July 21, 2006 by dialing 1-800-475- 6701. The confirmation code for the replay is 833322.

IBERIABANK Corporation is one of the oldest financial institutions with continuous operations in the State of Louisiana and the second largest Louisiana-based bank holding company. The Company operates 49 offices located in New Orleans, Baton Rouge, Shreveport, Northeast Louisiana, LaPlace, Houma, and the Acadiana and Northshore regions of Louisiana. The Company's common stock trades on NASDAQ under the symbol "IBKC" and the Company's market capitalization is approximately $560 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 are discussed in the Company's Annual Report on Form 10-K 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           For The Quarter
                                       Ended                    Ended
                                      June 30,                 March 31,
                                2006       2005  % Change    2006   % Change

  Income Data (in thousands):
    Net Interest Income        $22,755    $21,275    7%    $22,420      1%
    Net Interest Income
     (TE) (A)                   23,587     22,080    7%     23,279      1%
    Net Income                   8,855      8,128    9%      8,046     10%

  Per Share Data:
    Net Income - Basic           $0.95      $0.88    8%      $0.87      9%
    Net Income - Diluted          0.89       0.82    8%       0.81      9%

    Book Value                   27.56      28.00   (2%)     27.70     (0%)
    Tangible Book Value (B)      17.22      17.23   (0%)     17.35     (1%)
    Cash Dividends                0.30       0.24   25%       0.28      7%

  Number of Shares
   Outstanding:
    Basic Shares (Average)   9,354,218  9,233,918    1%  9,292,156      1%
    Diluted Shares
     (Average)               9,939,973  9,860,666    1%  9,884,303      1%
    Book Value Shares
     (Period End) ©        9,664,358  9,422,454    3%  9,692,824     (0%)

  Key Ratios: (D)
    Return on Average Assets      1.19%      1.20%            1.13%
    Return on Average Equity     13.19%     12.22%           12.17%
    Return on Average
     Tangible Equity (B)         21.44%     20.26%           19.92%
    Net Interest Margin (TE) (A)  3.44%      3.54%            3.53%
    Efficiency Ratio              62.3%      57.3%            59.7%
    Tangible Efficiency
     Ratio (TE) (A) (B)           59.0%      54.1%            56.4%
    Average Loans to Average
     Deposits                     84.3%      90.4%            84.6%
    Nonperforming Assets to
     Total Assets (E)             0.20%      0.27%            0.23%
    Allowance for Loan
     Losses to Loans              1.79%      1.37%            1.97%
    Net Charge-offs to
     Average Loans                0.02%      0.14%            0.02%
    Average Equity to
     Average Total Assets         9.06%      9.80%            9.28%
    Tier 1 Leverage Ratio         7.46%      7.61%            7.59%
    Dividend Payout Ratio         32.7%      27.8%            33.7%


   (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.
   ©  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.
   (D)  All ratios are calculated on an annualized basis for the period
        indicated.
   (E)  Nonperforming assets consist of nonaccruing loans, accruing loans 90
        days or more past due and repossessed assets.



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

  BALANCE SHEET (End of Period)                    June 30,
                                               2006        2005     % Change
  ASSETS
  Cash and Due From Banks                    $63,295     $48,527      30.4%
  Interest-bearing Deposits in Banks          15,550      13,615      14.2%
     Total Cash and Equivalents               78,845      62,142      26.9%
  Investment Securities Available
   for Sale                                  595,313     548,972       8.4%
  Investment Securities Held to Maturity      24,542      31,226     (21.4%)
     Total Investment Securities             619,855     580,198       6.8%
  Mortgage Loans Held for Sale                13,459      16,546     (18.7%)
  Loans, Net of Unearned Income            2,033,136   1,830,070      11.1%
  Allowance for Loan Losses                  (36,419)    (25,102)     45.1%
     Loans, net                            1,996,717   1,804,968      10.6%
  Premises and Equipment                      64,511      47,548      35.7%
  Goodwill and Acquisition Intangibles       100,003     101,436      (1.4%)
  Mortgage Servicing Rights                       65         133     (50.8%)
  Other Assets                               104,154      95,735       8.8%
     Total Assets                         $2,977,609  $2,708,706       9.9%

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits              $348,796    $264,439      31.9%
  Interest-bearing Deposits                2,020,098   1,760,201      14.8%
     Total Deposits                        2,368,894   2,024,640      17.0%
  Short-term Borrowings                          745     119,500     (99.4%)
  Securities Sold Under Agreements
   to Repurchase                              82,033      41,850      96.0%
  Long-term Debt                             243,133     243,652      (0.2%)
  Other Liabilities                           16,422      15,256       7.6%
     Total Liabilities                     2,711,227   2,444,898      10.9%
  Total Shareholders' Equity                 266,382     263,808       1.0%
     Total Liabilities and
      Shareholders' Equity                $2,977,609  $2,708,706       9.9%



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

  BALANCE SHEET (End of Period)                 March 31,       December 31,
                                                  2006              2005
  ASSETS
  Cash and Due From Banks                        $50,981           $66,697
  Interest-bearing Deposits in Banks              19,012            60,103
     Total Cash and Equivalents                   69,993           126,800
  Investment Securities Available for Sale       640,445           543,495
  Investment Securities Held to Maturity          28,479            29,087
     Total Investment Securities                 668,924           572,582
  Mortgage Loans Held for Sale                    13,057            10,515
  Loans, Net of Unearned Income                1,955,961         1,918,516
  Allowance for Loan Losses                      (38,438)          (38,082)
     Loans, net                                1,917,523         1,880,434
  Premises and Equipment                          57,961            55,010
  Goodwill and Acquisition Intangibles           100,286           100,576
  Mortgage Servicing Rights                           80                96
  Other Assets                                    98,529           106,579
     Total Assets                             $2,926,353        $2,852,592

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits                  $330,264          $350,065
  Interest-bearing Deposits                    1,995,794         1,892,891
     Total Deposits                            2,326,058         2,242,956
  Short-term Borrowings                              745               745
  Securities Sold Under Agreements
   to Repurchase                                  68,274            68,104
  Long-term Debt                                 243,962           250,212
  Other Liabilities                               18,818            27,006
     Total Liabilities                         2,657,857         2,589,023
  Total Shareholders' Equity                     268,496           263,569
     Total Liabilities and
      Shareholders' Equity                    $2,926,353        $2,852,592



                                             For The Three Months Ended
  INCOME STATEMENT                                    June 30,
                                          2006          2005       % Change

  Interest Income                        $39,893       $33,539        18.9%
  Interest Expense                        17,138        12,264        39.7%
     Net Interest Income                  22,755        21,275         7.0%
  Provision for Loan Losses               (1,902)          630      (401.9%)
     Net Interest Income After Provision
      for Loan Losses                     24,657        20,645        19.4%
  Service Charges                          3,242         3,684       (12.0%)
  ATM / Debit Card Fee Income                859           692        24.1%
  BOLI Cash Surrender Value Income           515           505         2.1%
  Gain on Sale of Loans, net                 393           549       (28.4%)
  Other Gains (Losses)                    (1,407)          182      (874.5%)
  Other Noninterest Income                 1,656         1,133        46.1%
     Total Noninterest Income              5,258         6,745       (22.0%)
  Salaries and Employee Benefits           9,440         8,233        14.7%
  Occupancy and Equipment                  2,291         2,034        12.6%
  Amortization of Acquisition
   Intangibles                               283           316       (10.6%)
  Other Noninterest Expense                5,448         5,464        (0.3%)
     Total Noninterest Expense            17,462        16,047         8.8%
     Income Before Income Taxes           12,453        11,343         9.8%
  Income Taxes                             3,598         3,215        11.9%
     Net Income                           $8,855        $8,128         8.9%

  Earnings Per Share, diluted              $0.89         $0.82         8.1%



                                                 For The Six Months Ended
  INCOME STATEMENT                                       June 30,
                                                2006       2005    % Change

  Interest Income                              $77,380    $64,993    19.1%
  Interest Expense                              32,205     23,170    39.0%
     Net Interest Income                        45,175     41,823     8.0%
  Provision for Loan Losses                     (1,467)     1,280  (214.6%)
     Net Interest Income After
      Provision for Loan Losses                 46,642     40,543    15.0%
  Service Charges                                6,244      6,824    (8.5%)
  ATM / Debit Card Fee Income                    1,659      1,300    27.6%
  BOLI Cash Surrender Value Income               1,024        961     6.5%
  Gain on Sale of Loans, net                       786      1,107   (29.0%)
  Other Gains (Losses)                          (1,361)       223  (709.6%)
  Other Noninterest Income                       3,173      2,412    31.6%
     Total Noninterest Income                   11,525     12,827   (10.2%)
  Salaries and Employee Benefits                19,011     16,472    15.4%
  Occupancy and Equipment                        4,631      3,923    18.1%
  Amortization of Acquisition Intangibles          573        601    (4.6%)
  Other Noninterest Expense                     10,362     10,727    (3.4%)
     Total Noninterest Expense                  34,577     31,723     9.0%
     Income Before Income Taxes                 23,590     21,647     9.0%
  Income Taxes                                   6,689      6,219     7.6%
     Net Income                                $16,901    $15,428     9.5%

  Earnings Per Share, diluted                    $1.71      $1.58     8.0%



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

                                                   For The Quarter Ended
  BALANCE SHEET (Average)                        June 30,         March 31,
                                                   2006              2006
  ASSETS
  Cash and Due From Banks                        $53,353           $59,721
  Interest-bearing Deposits in Banks              44,704            53,684
  Investment Securities                          648,391           616,041
  Mortgage Loans Held for Sale                    11,691             9,566
  Loans, Net of Unearned Income                1,989,875         1,931,788
  Allowance for Loan Losses                      (38,581)          (38,214)
  Other Assets                                   263,180           254,909
     Total Assets                             $2,972,613        $2,887,495

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits                  $331,272          $336,616
  Interest-bearing Deposits                    2,029,683         1,947,889
     Total Deposits                            2,360,955         2,284,505
  Short-term Borrowings                            3,399               751
  Securities Sold Under Agreements
   to Repurchase                                  76,440            66,371
  Long-term Debt                                 243,462           247,235
  Other Liabilities                               19,117            20,543
     Total Liabilities                         2,703,373         2,619,405
  Total Shareholders' Equity                     269,240           268,090
     Total Liabilities and
      Shareholders' Equity                    $2,972,613        $2,887,495



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

                                                 For The Quarter Ended
  BALANCE SHEET (Average)               December 31,  September 30, June 30,
                                             2005        2005         2005
  ASSETS
  Cash and Due From Banks                  $60,488     $53,087      $47,302
  Interest-bearing Deposits in Banks        29,371      25,384       16,326
  Investment Securities                    560,583     568,356      590,950
  Mortgage Loans Held for Sale              12,987      15,621       12,436
  Loans, Net of Unearned Income          1,895,970   1,854,951    1,836,362
  Allowance for Loan Losses                (38,070)    (25,184)     (25,104)
  Other Assets                             256,076     246,143      245,432
     Total Assets                       $2,777,405  $2,738,358   $2,723,704

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits            $334,840    $286,959     $267,004
  Interest-bearing Deposits              1,831,262   1,778,336    1,763,875
     Total Deposits                      2,166,102   2,065,295    2,030,879
  Short-term Borrowings                     16,913      86,902      120,138
  Securities Sold Under Agreements to
   Repurchase                               59,654      46,786       51,805
  Long-term Debt                           255,047     258,090      240,637
  Other Liabilities                         18,624      14,693       13,430
     Total Liabilities                   2,516,340   2,471,766    2,456,889
  Total Shareholders' Equity               261,065     266,592      266,815
     Total Liabilities and Shareholders'
      Equity                            $2,777,405  $2,738,358   $2,723,704



                                                            2006
                                                Second               First
  INCOME STATEMENT                              Quarter             Quarter

  Interest Income                               $39,893             $37,488
  Interest Expense                               17,138              15,068
     Net Interest Income                         22,755              22,420
  Provision for Loan Losses                      (1,902)                435
     Net Interest Income After
      Provision for Loan Losses                  24,657              21,985
  Total Noninterest Income                        5,258               6,266
  Total Noninterest Expense                      17,462              17,114
     Income (Loss) Before Income Taxes           12,453              11,137
  Income Taxes                                    3,598               3,091
     Net Income (Loss)                           $8,855              $8,046

  Earnings (Loss) Per Share, basic                $0.95               $0.87

  Earnings (Loss) Per Share, diluted              $0.89               $0.81

  Book Value Per Share                           $27.56              $27.70

  Return on Average Assets                        1.19%               1.13%
  Return on Average Equity                       13.19%              12.17%
  Return on Average Tangible Equity              21.44%              19.92%



                                                       2005
                                         Fourth       Third        Second
  INCOME STATEMENT                       Quarter     Quarter       Quarter

  Interest Income                        $35,735      $34,520      $33,539
  Interest Expense                        13,802       13,478       12,264
     Net Interest Income                  21,933       21,042       21,275
  Provision for Loan Losses                  625       15,164          630
     Net Interest Income After
      Provision for Loan Losses           21,308        5,878       20,645
  Total Noninterest Income                 6,674        6,640        6,745
  Total Noninterest Expense               16,943       15,773       16,047
     Income (Loss) Before Income Taxes    11,039       (3,255)      11,343
  Income Taxes                             3,126       (1,914)       3,215
     Net Income (Loss)                    $7,913      $(1,341)      $8,128

  Earnings (Loss) Per Share, basic         $0.86       $(0.15)       $0.88

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

  Book Value Per Share                    $27.60       $27.26       $28.00

  Return on Average Assets                 1.13%       (0.19%)       1.20%
  Return on Average Equity                12.03%       (2.00%)      12.22%
  Return on Average Tangible Equity       20.07%       (2.74%)      20.26%



                          IBERIABANK CORPORATION
               CONDENSED CONSOLIDATED FINANCIAL INFORMATION
                          (dollars in thousands)

  LOANS RECEIVABLE                                   June 30,
                                             2006         2005      % Change
  Residential Mortgage Loans:
     Residential 1-4 Family                $451,476     $407,726     10.7%
     Construction                            31,586       27,329     15.6%
        Total Residential Mortgage Loans    483,062      435,055     11.0%
  Commercial Loans:
     Real Estate                            620,760      516,377     20.2%
     Business                               396,885      332,603     19.3%
        Total Commercial Loans            1,017,645      848,980     19.9%
  Consumer Loans:
     Indirect Automobile                    227,406      229,910     (1.1%)
     Home Equity                            228,955      239,770     (4.5%)
     Automobile                              23,093       23,711     (2.6%)
     Credit Card Loans                        7,842        8,123     (3.5%)
     Other                                   45,133       44,521      1.4%
        Total Consumer Loans                532,429      546,035     (2.5%)
        Total Loans Receivable            2,033,136    1,830,070     11.1%
  Allowance for Loan Losses                 (36,419)     (25,102)
     Loans Receivable, Net               $1,996,717   $1,804,968


  ASSET QUALITY DATA                                 June 30,
                                              2006         2005    % Change
  Nonaccrual Loans                           $4,340       $6,558    (33.8%)
  Foreclosed Assets                              14           60    (76.9%)
  Other Real Estate Owned                       273          240     13.8%
  Accruing Loans More Than 90 Days Past Due   1,469          540    172.2%
  Total Nonperforming Assets (A)             $6,096       $7,398    (17.6%)

  Nonperforming Assets to Total Assets (A)     0.20%        0.27%   (25.0%)
  Nonperforming Assets to Total Loans +
   OREO (A)                                   0.30%        0.40%    (25.8%)
  Allowance for Loan Losses to
   Nonperforming Loans (A)                   627.0%       353.6%     77.3%
  Allowance for Loan Losses to
   Nonperforming Assets (A)                  597.4%       339.3%     76.1%
  Allowance for Loan Losses to Total
   Loans                                      1.79%        1.37%     30.6%
  Year to Date Charge-offs                   $1,487       $2,036    (27.0%)
  Year to Date Recoveries                    $1,291         $849     52.1%

  (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.



                          IBERIABANK CORPORATION
               CONDENSED CONSOLIDATED FINANCIAL INFORMATION
                          (dollars in thousands)

  LOANS RECEIVABLE                             March 31,        December 31,
                                                  2006              2005
  Residential Mortgage Loans:
     Residential 1-4 Family                     $433,260          $430,111
     Construction                                 25,574            30,611
        Total Residential Mortgage Loans         458,834           460,722
  Commercial Loans:
     Real Estate                                 580,128           545,868
     Business                                    393,293           376,966
        Total Commercial Loans                   973,421           922,834
  Consumer Loans:
     Indirect Automobile                         227,742           229,646
     Home Equity                                 224,417           230,363
     Automobile                                   22,668            23,372
     Credit Card Loans                             7,705             8,433
     Other                                        41,174            43,146
        Total Consumer Loans                     523,706           534,960
        Total Loans Receivable                 1,955,961         1,918,516
  Allowance for Loan Losses                      (38,438)          (38,082)
     Loans Receivable, Net                    $1,917,523        $1,880,434


  ASSET QUALITY DATA                            March 31,       December 31,
                                                   2006              2005
  Nonaccrual Loans                                $4,596            $4,773
  Foreclosed Assets                                   95                54
  Other Real Estate Owned                            128               203
  Accruing Loans More Than 90 Days Past Due        1,878             1,003
  Total Nonperforming Assets (A)                  $6,697            $6,033

  Nonperforming Assets to Total Assets (A)         0.23%             0.21%
  Nonperforming Assets to Total Loans +
   OREO (A)                                        0.34%             0.31%
  Allowance for Loan Losses to
   Nonperforming Loans (A)                        593.8%            659.3%
  Allowance for Loan Losses to
   Nonperforming Assets (A)                       573.9%            631.3%
  Allowance for Loan Losses to Total
   Loans                                           1.97%             1.98%
  Year to Date Charge-offs                          $716            $5,541
  Year to Date Recoveries                           $637            $1,895

  (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,
                                          2006           2005      % Change

  Noninterest-bearing Demand Accounts    $348,796       $264,439     31.9%
  NOW Accounts                            628,335        546,859     14.9%
  Savings and Money Market Accounts       584,396        483,057     21.0%
  Certificates of Deposit                 807,367        730,285     10.6%
     Total Deposits                    $2,368,894     $2,024,640     17.0%


  DEPOSITS                               March 31,              December 31,
                                           2006                     2005

  Noninterest-bearing Demand Accounts     $330,264                 $350,065
  NOW Accounts                             637,408                  575,379
  Savings and Money Market Accounts        573,490                  554,731
  Certificates of Deposit                  784,896                  762,781
     Total Deposits                     $2,326,058               $2,242,956



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


                                            For The Quarter Ended
                                      June 30, 2006        June 30, 2005
                                                Average             Average
                                    Average      Yield/    Average   Yield/
                                    Balance      Rate(%)   Balance   Rate(%)
  ASSETS
  Earning Assets:
   Loans Receivable:
    Mortgage Loans                   $472,601     5.49%    $432,901   5.32%
    Commercial Loans (TE) (A)         988,018     6.47%     863,027   5.66%
    Consumer and Other Loans          529,256     7.11%     540,434   6.75%
      Total Loans                   1,989,875     6.41%   1,836,362   5.90%
  Mortgage Loans Held for Sale         11,691     6.15%      12,436   5.51%
  Investment Securities (TE) (A)(B)   659,552     4.67%     592,947   4.43%
  Other Earning Assets                 64,863     5.00%      43,509   3.58%
  Total Earning Assets              2,725,981     5.95%   2,485,254   5.51%
   Allowance for Loan Losses          (38,581)              (25,104)
   Nonearning Assets                  285,213               263,554
  Total Assets                     $2,972,613            $2,723,704

  LIABILITIES AND SHAREHOLDERS'
   EQUITY
  Interest-bearing Liabilities:
   Deposits:
    NOW Accounts                     $637,921      2.43%    $559,752  1.57%
    Savings and Money Market
     Accounts                         593,040      1.85%     472,989  1.20%
    Certificates of Deposit           798,722      3.67%     731,134  2.79%
      Total Interest-bearing
       Deposits                     2,029,683      2.75%   1,763,875  1.97%
   Short-term Borrowings               79,839      2.35%     171,943  2.42%
   Long-term Debt                     243,462      4.47%     240,637  4.16%
      Total Interest-bearing
       Liabilities                  2,352,984      2.91%   2,176,455  2.25%
  Noninterest-bearing Demand
   Deposits                           331,272                267,004
  Noninterest-bearing Liabilities      19,117                 13,430
      Total Liabilities             2,703,373              2,456,889
  Shareholders' Equity                269,240                266,815
      Total Liabilities and
       Shareholders' Equity        $2,972,613             $2,723,704


  Net Interest Spread                 $22,755      3.04%     $21,275  3.26%
  Tax-equivalent Benefit                  832      0.12%         805  0.13%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (A)           $23,587      3.44%     $22,080  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, 2006         June 30, 2005
                                              Average              Average
                                   Average     Yield/    Average   Yield/
                                   Balance     Rate (%)  Balance   Rate (%)
  ASSETS
  Earning Assets:
   Loans Receivable:
    Mortgage Loans                 $466,972    5.46%    $428,447   5.33%
    Commercial Loans (TE) (A)       964,656    6.39%     843,998   5.55%
    Consumer and Other Loans        529,364    7.07%     531,659   6.71%
      Total Loans                 1,960,992    6.35%   1,804,104   5.84%
   Mortgage Loans Held for Sale      10,634    6.26%      11,404   5.22%
   Investment Securities (TE)
   (A)(B)                           639,937    4.63%     581,311   4.43%
   Other Earning Assets              69,615    4.72%      46,073   3.31%
      Total Earning Assets        2,681,178    5.90%   2,442,892   5.45%
   Allowance for Loan Losses        (38,399)             (24,128)
   Nonearning Assets                287,510              256,805
  Total Assets                   $2,930,289           $2,675,569

  LIABILITIES AND SHAREHOLDERS'
   EQUITY
  Interest-bearing Liabilities:
   Deposits:
    NOW Accounts                   $624,826    2.29%    $567,564   1.52%
    Savings and Money Market
     Accounts                       577,305    1.75%     447,688   1.07%
    Certificates of Deposit         786,881    3.55%     713,741   2.70%
     Total Interest-bearing
      Deposits                    1,989,012    2.63%   1,728,993   1.89%
   Short-term Borrowings             73,516    2.13%     181,703   2.24%
   Long-term Debt                   245,338    4.41%     234,370   4.17%
     Total Interest-bearing
      Liabilities                 2,307,866    2.81%   2,145,066   2.17%
  Noninterest-bearing Demand
   Deposits                         333,929              255,436
  Noninterest-bearing Liabilities    19,826               15,673
     Total Liabilities            2,661,621            2,416,175
  Shareholders' Equity              268,668              259,394
     Total Liabilities and
      Shareholders' Equity       $2,930,289           $2,675,569


  Net Interest Spread               $45,175    3.09%     $41,823   3.28%
  Tax-equivalent Benefit              1,691    0.13%       1,592   0.13%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (A)         $46,866    3.48%     $43,415   3.55%


  (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
                                        6/30/2006   3/31/2006   6/30/2005

  Net Interest Income                      $22,755     $22,420     $21,275
  Effect of Tax Benefit on Interest Income     832         859         805
    Net Interest Income (TE) (A)            23,587      23,279      22,080
  Noninterest Income                         5,258       6,266       6,745
  Effect of Tax Benefit on Noninterest
   Income                                      277         274         272
    Noninterest Income (TE) (A)              5,535       6,540       7,017
      Total Revenues (TE) (A)              $29,122     $29,819     $29,097

  Total Noninterest Expense                $17,462     $17,114     $16,047
  Less Intangible Amortization Expense        (283)       (290)       (316)
    Tangible Operating Expense (B)         $17,179     $16,824     $15,731

  Return on Average Equity                  13.19%      12.17%      12.22%
    Effect of Intangibles (B)                8.25%       7.75%       8.04%
  Return on Average Tangible Equity (B)     21.44%      19.92%      20.26%

  Efficiency Ratio                           62.3%       59.7%       57.3%
  Effect of Tax Benefit Related to Tax
   Exempt Income                             (2.3%)      (2.3%)      (2.1%)
    Efficiency Ratio (TE) (A)                60.0%       57.4%       55.2%
  Effect of Amortization of Intangibles      (1.0%)      (1.0%)      (1.1%)
    Tangible Efficiency Ratio (TE) (A) (B)   59.0%       56.4%       54.1%

  (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