IBERIABANK Corporation Reports Second Quarter 2007 Results
PRNewswire-FirstCall
LAFAYETTE, La.

IBERIABANK Corporation , the holding company of the 120-year-old IBERIABANK (http://www.iberiabank.com/) and Pulaski Bank and Trust Company (http://www.pulaskibank.com/), announced earnings of $10.0 million for the quarter ended June 30, 2007, up 13% compared to the same period in 2006 and up 10% compared to the first quarter of 2007 ("linked quarter basis"). The Company reported fully diluted earnings per share ("EPS") of $0.78 for the second quarter of 2007, down 13% compared to $0.89 in the same quarter of 2006, and up 2% on a linked quarter basis. The reported EPS of $0.78 included merger-related costs and the impact of recent accounting changes, which management has consistently excluded from its annual EPS guidance. The Company incurred in the second quarter of 2007 merger-related and severance costs totaling $3.1 million on a pre-tax basis, the aggregate negative impact of which was $0.14 per fully diluted share on an after-tax basis. In addition, the Company incurred $0.2 million in pre-tax expense associated with SFAS 133 and SFAS 123R, or $0.01 per share on an after-tax basis. Excluding these merger-related and severance costs and changes in accounting treatment, the adjusted (non-GAAP) EPS figure was $0.93. The consensus analyst EPS estimate for the second quarter of 2007 for the Company was $0.92 as reported by First Call.

The following table provides a non-GAAP reconciliation of net income and fully diluted earnings per share adjusting for the merger-related and other severance costs that were incurred in the most recent three quarters and the financial impact of recent accounting changes. Management believes this non-GAAP table provides a useful measure of operating earnings trends.

  Non-GAAP Pro Forma Net Income And EPS    4Q 2006    1Q 2007    2Q 2007
  (After-tax; Dollars in thousands)
  Net Income As Reported                    $8,915     $9,155    $10,027
  Add: Merger-Related And Severance Costs      109        873      1,930
  Add: Impact of FAS 123R and 133              101        193        117
  Net Income - Guidance Basis               $9,125    $10,221    $12,074

  (After-tax; Per share basis)
  Fully Diluted EPS As Reported              $0.87      $0.76      $0.78
  Add: Merger-Related And Severance Costs     0.03       0.06       0.14
  Add: Impact of FAS 123R and 133             0.02       0.02       0.01
  EPS - Guidance Basis                       $0.92      $0.84      $0.93



  Highlights For The Quarter Ended June 30, 2007

  *  Loans.  Average loans increased $364 million, or 13%, between the first
     and second quarters of 2007. On a period-end basis, total loans were
     $3.2 billion, an increase of $145 million, or 5%, between March 31,
     2007 and June 30, 2007.

  *  Deposits.  Average deposits climbed $332 million, or 11%, on a linked
     quarter basis.  Period-end deposits were $3.4 billion, a decrease of
     $66 million, or 2%, between March 31, 2007 and June 30, 2007.  The
     Company considers the period-end decline in deposits tied primarily to
     seasonal tax-related deposit outflows and decreased institutional
     deposits.

  *  Asset Quality.  Annualized net charge-offs equated to 0.04% of average
     loans in the second quarter of 2007, compared to between 0.01% and
     0.03% in each of the five preceding quarters.  Total nonperforming
     assets ("NPAs") increased slightly to 0.45% of total assets at June 30,
     2007, compared to 0.42% at March 31, 2007.  The increase in the NPA
     ratio was tied to acquisition-related credits.  The franchise in
     Louisiana reported an NPA ratio of 0.16% at June 30, 2007, or a
     decrease of two basis points compared to 0.18% at March 31, 2007.

  *  Branches.  A total of 12 new branch offices have been opened under the
     Company's branch expansion initiative.  The estimated net after-tax
     cost of the branches was $0.06 per diluted share in the second quarter
     of 2007, compared to $0.05 per diluted share in the first quarter of
     2007.  Total loan balances in these branches were $51 million at June
     30, 2007, up 32% compared to March 31, 2007.  Similarly, aggregate
     deposit balances in these branches totaled $69 million at June 30,
     2007, up 16% compared to March 31, 2007.


  Balance Sheet And Yields

Total assets climbed $150 million, or 3%, since March 31, 2007 to $4.7 billion. Shareholders' equity remained relatively stable during this period at $472 million at June 30, 2007.

                 Period-End Loan Volumes ($ in thousands)

  Loans                                    Louisiana Bank

                                12/31/06         3/31/07       6/30/07

  Commercial                   $1,211,099      $1,229,238    $1,306,476
  Consumer                        546,033         551,469       577,028
  Mortgage                        476,870         490,670       501,722
  Total Loans                  $2,234,002      $2,271,377    $2,385,226
      Growth                                           2%            5%


  Loans                               Acquired Entities
                                                                   Since
                         2/1/07      3/31/07      6/30/07           Acq.

  Commercial            $446,640     $458,857     $495,694          11%
  Consumer               239,721      225,165      231,273          -4%
  Mortgage                67,216       79,025       67,038           0%
  Total Loans           $753,577     $763,047     $794,005           5%
      Growth                               1%           4%



Total loans increased $145 million, or 5%, from March 31, 2007 to June 30, 2007. Loan growth was exhibited in both the Louisiana and the acquired franchise markets. Over this period, commercial loans climbed $114 million, or 7%, consumer loans increased $32 million, or 4%, permanent residential mortgage loans decreased $4 million, or 1%, and construction loans to retail clients increased $3 million, or 5%, to $57 million at June 30, 2007. Retail construction loans accounted for less than 2% of total loans at June 30, 2007, unchanged compared to March 31, 2007. Loans past due 30 days or more in this category equated to only 0.21% of loans at June 30, 2007.

In addition to retail residential construction loans, the Company also has residential construction exposure through its commercial division that lends to local builders through its subsidiaries. As previously stated in the first quarter, the Company had identified issues with some of these loans in Northwest Arkansas during the due diligence process. At the closing of the Pulaski acquisition, a number of these loans were put on non-accrual status and discounted to expected, realizable value. At the same time, the decision was made to continue to shrink the size of this portfolio. This was a continuation of the strategy put in place by Pulaski over a year ago. Since year-end 2006, the Northwest Arkansas outstanding loan balance has declined by $8.2 million, or 29%, as homes were sold and loans paid down. It is important to note that the Northwest Arkansas housing market continues to see activity despite the slowdown in overall sales. At the end of the second quarter of 2007, the Northwest Arkansas construction loans outstanding totaled $20.6 million. Lot loans accounted for $1.8 million of the total loans outstanding. Non-accrual loans in this market totaled $4.2 million and related discounts totaled $0.8 million. The Company continues to believe the loan discounts and reserves remain adequate to account for the credit risk associated with these loans.

At June 30, 2007, approximately 70% of the Company's loan portfolio had fixed interest rates. Eliminating fixed rate loans that reprice within a one-year time frame reduces this figure to 56%.

On a linked quarter basis, the reported yield on average total loans increased nine basis points to 6.89%. On this basis, the yield on commercial loans increased 10 basis points, the mortgage loan yield increased nine basis points, and the consumer loan yield increased one basis point.

The investment portfolio volume decreased $24 million, or 3%, to $817 million at June 30, 2007. The investment portfolio equated to 17% of total assets at June 30, 2007, compared to 18% at March 31, 2007. The Company's investment portfolio duration lengthened during the quarter. At June 30, 2007, the portfolio had a modified duration of 3.2 years, compared to 2.9 years at March 31, 2007. The Company's investment portfolio had very limited extension risk. At current projected speeds and other assumptions, the portfolio is expected to generate approximately $240 million in cash flows, or about 29% of the portfolio, over the next 18 months. The portfolio had an unrealized loss of approximately $13 million at June 30, 2007, compared to a loss of $3 million at March 31, 2007. The average yield on investment securities increased 15 basis points on a linked quarter basis, to 5.26% in the second quarter of 2007.

Recent financial media attention has focused on downgrades in mortgage- related investments possessing significant amounts of collateral that is considered "sub-prime" (higher credit risk borrowers), "Alt-A" (low documentation), and/or "second lien" by the large rating agencies. At June 30, 2007, the Company had no investment instruments containing material amounts of this type of collateral. Similarly, as described in detail in the Company's press release dated March 21, 2007, the Company considers its mortgage origination business exposure to the sub-prime and Alt-A segments as extremely low. Through the first six months of 2007, Pulaski Mortgage Company, a subsidiary of Pulaski Bank and Trust Company, originated $415 million in mortgage loans, of which 0.6% were sub-prime and 4.1% were Alt-A originations.

               Period-End Deposit Volumes ($ in thousands)


  Deposits                                Louisiana Bank

                                 12/31/06         3/31/07       6/30/07

  Noninterest                    $354,961        $354,791      $356,902
  NOW Accounts                    628,541         656,665       638,986
  Savings/MMkt                    588,202         593,548       589,708
  Time Deposits                   850,878         852,674       831,599
  Total Deposits               $2,422,582      $2,457,678    $2,417,195
      Growth                                           1%           -2%


  Deposits                             Acquired Entities
                                                                   Since
                          2/1/07      3/31/07      6/30/07          Acq.

  Noninterest            $96,077     $114,490     $101,212           5%
  NOW Accounts           193,400      198,807      195,349           1%
  Savings/MMkt           176,322      175,991      183,416           4%
  Time Deposits          539,254      545,300      529,353          -2%
  Total Deposits      $1,005,053   $1,034,588   $1,009,330           0%
      Growth                               3%          -2%



Total deposits at June 30, 2007 decreased $66 million, or 2%, compared to total deposits at March 31, 2007. On this basis, noninterest bearing deposits decreased $11 million, or 2%, and interest bearing deposits decreased $55 million, or 2%. The Company believes seasonal tax-related payments were the primary cause of the deposit decline during the second quarter. The cost of interest bearing deposits in the second quarter of 2007 was 3.60%, an increase of seven basis points on a linked quarter basis. The cost of total interest bearing liabilities increased 11 basis points during this period. The Company's loans-to-deposits ratio increased from 86.9% at March 31, 2007 to 92.8% at June 30, 2007.

Operating Results

Tax-equivalent net interest income increased $3.3 million, or 11% on a linked quarter basis, driven by average earning asset growth of $456 million, or 13%. On a linked quarter basis, a 10-basis point increase in earning asset yield nearly equated to an 11-basis point increase in the cost of interest bearing liabilities. As a result, the Company's net interest spread remained essentially stable. The tax-equivalent margin declined four basis points on a linked quarter basis to 3.09% in the second quarter of 2007 (the margin for the Louisiana franchise declined two basis points).

              Average Yields/Cost (Taxable Equivalent Basis)

                              Louisiana Bank        IBERIABANK Corporation
                          4Q06    1Q07     2Q07      4Q06    1Q07    2Q07

  Earning Asset Yield     6.20%   6.35%    6.40%     6.20%   6.42%   6.52%
  Cost Of Int-Bearing
   Liabs                  3.39%   3.49%    3.55%     3.48%   3.72%   3.83%
  Net Interest Spread     2.81%   2.86%    2.86%     2.72%   2.70%   2.69%

  Net Interest Margin     3.33%   3.37%    3.35%     3.20%   3.13%   3.09%



Noninterest income in the second quarter of 2007 increased $7.7 million, or 54%, on a linked quarter basis. A portion of the linked quarter increase was the financial impact of the acquisitions for two months in the first quarter of 2007. Additionally, revenue growth in the second quarter was driven by seasonal influences on the mortgage and title businesses. On a linked quarter basis, gains on the sale of mortgage loans climbed $2.1 million, or 75%, and title revenues increased $3.6 million, or 166%. In the Company's prior earnings release, management indicated the Company's mortgage and title insurance businesses, on a combined basis, were expected to report an improvement in pre-tax earnings of approximately $1.0 million on a linked quarter basis. During the second quarter of 2007, these businesses generated a combined $1.6 million increase in income before tax on a linked quarter basis. During the second quarter of 2007, the Company reported strong growth in brokerage income and a $0.8 million gain associated with the sale of MasterCard common stock (included in "Other Income.")

Noninterest expense increased $9.6 million, or 33%, on a linked quarter basis, due primarily to three factors. First, the linked quarter growth was influenced by the full quarter impact of the acquisitions. Second, the Company incurred $3.1 million in pre-tax merger-related and other severance costs during the second quarter of 2007, compared to $1.3 million of these expenses in the first quarter of 2007. Third, the seasonal increase in mortgage originations resulted in a material elevation in commission expense. Financial results in the second quarter had marginal benefit resulting from acquisition cost savings and revenue enhancements. The Company expects to realize the majority of the synergistic benefits of the acquisitions in the third and fourth quarters.

Net income in the second quarter of 2007 totaled $10.0 million, up 10% from $9.2 million on a linked quarter basis, and up 13% compared to one year ago. Return on average assets ("ROA") was 0.87% for the second quarter of 2007. Similarly, return on average equity ("ROE") was 8.45%, and return on average tangible equity was 19.34%. Excluding merger-related and other severance costs and changes in accounting treatment, the comparable figures were 1.05%, 10.18%, and 23.12%, respectively.

Asset Quality

The Company believes that its asset quality continues to be very strong. The Company reported net charge-offs totaling $294,000 in the second quarter of 2007, compared to $164,000 in the first quarter of 2007. The ratio of net charge-offs to average loans was 0.04% in the second quarter of 2007, compared to between 0.01% and 0.03% in each of the preceding five quarters.

The Company believes 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 $21.1 million at June 30, 2007, or 0.45% of total assets, up $1.8 million compared to $19.3 million, or 0.42% of total assets, at March 31, 2007. The acquired entities accounted for $15.9 million of the NPAs at June 30, 2007, up $2.4 million from $13.5 million at March 31, 2007. Loans past due 30 days or more (including nonaccruing loans) represented 1.07% of total loans at June 30, 2007, compared to 1.15% of total loans at March 31, 2007.

Loans Past Due Loans Past Due 30 Days Or More And Nonaccruing Loans As % Of Loans Outstanding

  By Entity:                    12/31/06         3/31/07       6/30/07

  IBERIABANK
    30+ days past due              0.25%           0.50%         0.32%
    Non-accrual                    0.12%           0.14%         0.11%
    Total past due                 0.37%           0.64%         0.42%

  Pulaski Bank & Trust
    30+ days past due                --            1.07%         1.54%
    Non-accrual                      --            1.63%         1.48%
    Total past due                   --            2.70%         3.02%

  Consolidated
    30+ days past due              0.25%           0.64%         0.62%
    Non-accrual                    0.12%           0.51%         0.45%
    Total past due                 0.37%           1.15%         1.07%



For Pulaski Bank & Trust Company, the increase in past dues was the result primarily of consumer loans in Arkansas and the transition in collection activities in that market. Non-accruals declined during the period, as construction loans identified as impaired at acquisition were paid out.

During the second quarter of 2007, the Company received a $4.9 million payoff on a commercial loan in the New Orleans market that had been rated "classified" for over four years. This loan became past due just prior to the end of the first quarter of 2007 and was the primary reason for the increase in commercial loans past due 30 days or more at March 31, 2007. The Company established specific reserves associated with this credit well before Hurricane Katrina. Upon receipt of the loan payoff, approximately $0.6 million of specific reserves related to this credit were immediately reversed.

At June 30, 2007, the allowance for loan losses was 1.19%, compared to 1.28% at March 31, 2007. Loan loss reserve coverage of nonperforming loans and nonperforming assets at June 30, 2007 were 2.2 and 1.8 times, respectively, compared to 2.4 and 2.0 times, respectively, at March 31, 2007.

Acquisition Update

The operating system and branch conversions for Pulaski Bank and Trust Company were completed March 17-18, 2007. First Community Bank's conversions were completed April 21-22, 2007. The two financial institutions were merged on April 22, 2007. Since the completion of the merger and conversions, the Company has undertaken a thorough review of its combined operations, competitive product pricing strategies, client focus, and market conditions. As a result of this review, the Company notes the following:

  *  To date, the Company reduced staffing by 120 associates, or
     approximately 8%.

  *  Projected annualized personnel-related savings of $4.8 million,
     contract-related savings of $0.7 million and other annualized savings
     and revenue enhancements of $1.7 million.

  *  The Company continues to anticipate the synergistic benefits will be
     realized in the second half of 2007.

  *  In the latter part of 2006 and early 2007, the acquired entities
     experienced significant deposit pricing pressures in their local
     markets as competitors pro-actively targeted clients of the acquired
     entities.  Pricing pressures and deposit mix changes were materially
     greater than the Company's management team anticipated.  As a result,
     deposit rates at the acquired entities escalated significantly in 2007.
     Strategically, the acquired entities and the Company considered
     retention of high quality clients imperative.

  *  Since the acquisitions were completed, the Company experienced no
     material deposit run-off and loan volume increased by $28 million, or
     4%, at the acquired franchises.

  *  To date, the Company has incurred an aggregate $7.8 million in merger
     and other severance costs.  Of this amount, $2.8 million of direct
     costs of the combinations was capitalized, and $5.0 million was
     expensed. The aggregate amount of $7.8 million is well below the $18.0
     million figure the Company initially anticipated at the times the
     pending acquisitions were announced.

  EPS Expectations For 2007

On April 24, 2007, the Company stated its expectations for the full year 2007 EPS to be in the range of $3.85 to $3.90, excluding the impact of merger-related costs (including the additional cost of carrying financing incurred in advance of completion of the acquisitions), the cost of adoption of SFAS 123R, and other changes in accounting treatment. As a result of the impact and timing of the acquisitions and deposit pricing pressures, the Company is modifying its current full year 2007 EPS expectations to be $3.70 to $3.75, excluding merger-related and severance costs and changes in accounting treatment.

The EPS comfort range provided today is based on management's current information, estimates and assumptions. Factors include the projected shape of the yield curve in 2007 as indicated in forward interest rate curves, the synergistic benefits of the recent acquisitions, and loan and deposit growth. To clarify management's earnings expectations and address the anticipated timing and financial impact of the acquisitions and the various strategic initiatives, the Company is providing a one-time summary of the Company's current internally-generated forecast for 2007. This forecast includes projections for quarterly tax-equivalent net interest margin, noninterest income and expense, effective tax rates, and fully diluted shares outstanding.

                    Non-GAAP Internal Forecast Summary

  ($ in
  Millions;
  EPS in         1Q07      2Q07    3Q07     4Q07   Year 2007   Year   Change
  Per Share)    Actual    Actual   Mgmt     Mgmt      Mgmt     2006  2007-06

  T/E Net Int
   Margin         3.13%     3.09%   3.12%    3.14%     3.12%   3.42%  -0.30%

  NII After LLP   27.3      31.3    31.8     33.0     123.4    99.3      24%

  Service Charges  4.0       5.0     5.1      5.5      19.7    13.2      49%
  Title Revenue    2.2       5.8     5.5      4.9      18.4
  Mortgage
   Revenues        2.8       4.9     5.0      4.5      17.2     0.7    2204%
  Other Income     5.1       6.1     5.5      5.7      22.3     9.5     134%
  Nonint Income   14.2      21.8    21.1     20.5      77.6    23.5     231%

  Salaries &
   Benefits       17.0      21.2    20.9     20.5      79.6    40.0      99%
  Occupancy &
   Equipment       3.9       5.2     5.4      5.4      19.9     9.4     110%
  Other Expense    8.3      12.5     9.7      9.7      40.3    23.7      70%
  Total NIE       29.3      38.9    36.0     35.6     139.8    73.1      91%

  Income Before
   Tax            12.1      14.2    16.9     17.9      61.2    49.6      23%
  Income Tax       3.0       4.1     5.0      5.3      17.4    14.0      25%
  Net Income       9.2      10.0    11.9     12.6      43.8    35.7      23%

  Effective Tax
   Rate           24.5%     29.2%   29.5%    29.5%     28.4%   28.1%    0.3%

  Merger &
   Severance       1.3       3.1      --       --       4.4     0.2    2492%
  Accounting
   Changes         0.3       0.2     0.2      0.2       0.9     0.2     504%
  Pre-Tax Effect   1.6       3.3     0.2      0.2       5.3     0.3    1538%
  Tax Effect      (0.6)     (1.3)    0.0     (0.1)     (2.0)   (0.1)   1744%
  Net Income
   Impact          1.0       2.1     0.2      0.1       3.3     0.2    1522%
  Adj Net Income  10.2      12.1    12.1     12.8      47.1    35.9      31%

  F-D Shares
   (000s)       12,084    12,914  12,927   12,843    12,695   9,993      27%
  F-D EPS -

   Reported      $0.76     $0.78   $0.92    $0.98     $3.44   $3.57      -4%
  Adjustments    $0.08     $0.15   $0.01    $0.01     $0.27   $0.02    1262%
  F-D EPS -
   Adjusted      $0.84     $0.93   $0.93    $0.99     $3.71   $3.59       3%
      (Calculations for some subtotals will not sum due to rounding)



The current forecast assumes total loan growth of approximately $266 million, or 8%, between June 30, 2007 and year-end 2007 (the Company's current commercial loan pipeline is over $150 million.) Over this same period, the forecast assumes total deposit growth of $67 million, or 2%. While additional merger-related and other severance costs may be incurred during the second half of 2007, these potential costs are excluded from the forecast.

As indicated in the forecast summary above, management's current internal forecast for full year 2007 EPS is $3.71, excluding merger-related and other severance costs and changes in accounting treatment. Based on this forecast, the Company currently anticipates a return to double-digit EPS growth levels in 2008. The Company considers this a one-time disclosure and undertakes no obligation to provide any periodic updates or additional detail with regard to this forecast.

Capital Position

Average shareholders' equity increased $58 million, or 14%, on a linked quarter basis. At June 30, 2007, shareholders' equity was $472 million, unchanged compared to March 31, 2007. The Company's equity-to-assets ratio was 9.98% at June 30, 2007, compared to 10.31% at March 31, 2007. Book value per share and tangible book value per share remained relatively stable between March 31, 2007 and June 30, 2007. At June 30, 2007, book value and tangible book value per share were $36.64 and $16.81, respectively.

On June 21, 2007, the Company issued $10 million in trust floating rate capital securities at an annual rate equal to three-month LIBOR plus 1.435%. The securities mature in 2037 and can be called without penalty beginning in 2012. These securities were issued to complete the refinancing of $10 million in similar securities held by Pocahontas Bancorp that were called on June 8, 2007.

Tier 1 leverage ratio was 6.91% at June 30, 2007, down 89 basis points compared to 7.80% at March 31, 2007. The decline in this ratio was the result of two primary factors. First, the tier 1 leverage ratio is calculated using a point-in-time numerator (tier 1 capital at quarter-end) divided by a 3-month average denominator (average of regulatory assets over the prior three months). Approximately 80 basis points of the decline between March 31, 2007 and June 30, 2007 were due to the manner in which the ratio is calculated. Second, loan growth partially offset by investment portfolio compression increased the Company's leverage.

On May 4, 2005, the Board of Directors of the Company authorized the repurchase of up to 375,000 shares (after adjusting for the five-for-four stock split in August 2005). On April 25, 2007, the Board of Directors of the Company authorized a new share repurchase program upon completion of the prior program. The new program authorizes the repurchase of up to 300,000 shares of the Company's outstanding common stock, or approximately 2.3% of total shares outstanding. Stock repurchases under this new program will be made from time to time, on the open market or in privately negotiated transactions, at the discretion of the management of the Company. The timing of these repurchases will depend on market conditions and other requirements. During the second quarter of 2007, the Company repurchased 27,000 shares at a weighted average price of $52.27 per share.

On June 27, 2007, the Company announced the declaration of a quarterly cash dividend of $0.34 per share, an increase of 13% compared to the same quarter last year. This dividend level equated to an annualized dividend rate of $1.36 per share and an indicated dividend yield of 3.05%, based on the closing stock price of the Company on July 24, 2007 of $44.64 per share. Based on that closing stock price, the Company's common stock traded at a price-to-earnings ratio of 11.8 times current consensus analyst estimates of $3.78 per fully diluted EPS for 2007 and 10.3 times the average analyst 2008 estimate of $4.32. This price also equates to 1.22 times June 30, 2007 book value per share of $36.64.

IBERIABANK Corporation

IBERIABANK Corporation is a multi-bank financial holding company with 142 combined offices, including 82 bank branch offices in Louisiana, Arkansas, Tennessee, and Oklahoma, 28 mortgage offices in eight states, and 32 title insurance offices in Arkansas and Louisiana. The Company's common stock trades on the Nasdaq Global Market under the symbol "IBKC" and the Company's market capitalization is approximately $575 million.

The following investment firms currently provide equity research coverage on IBERIABANK Corporation:

  *  FIG Partners, LLC
  *  FTN Midwest Securities Corp.
  *  Howe Barnes Hoefer & Arnett, Inc.
  *  Keefe, Bruyette & Woods
  *  Robert W. Baird & Company
  *  Stanford Group Company
  *  Stephens, Inc.
  *  Sterne, Agee & Leach
  *  Stifel Nicolaus & Company
  *  SunTrust Robinson-Humphrey

  Conference Call

In association with this earnings release, the Company will host a live conference call to discuss the financial results for the quarter just completed. The telephone conference call will be held on Wednesday, July 25, 2007, beginning at 8:00 a.m. Central Time by dialing 1-888-639-6205. The confirmation code for the call is 879256. A replay of the call will be available until midnight Central Time on August 1, 2007 by dialing 1-800-475-6701. The confirmation code for the replay is 879256.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with GAAP. The Company's management uses these non- GAAP financial measures in their analysis of the Company's performance. 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.

Actual results could differ materially because of factors such as our ability to execute our growth strategy, risks relating to the integration of acquired companies that have previously been operated separately, credit risk of our customers, sufficiency of our allowance for loan losses, changes in interest rates, reliance on the services of executive management, competition for loans, deposits and investment dollars, reputational risk and social factors, changes in government regulations and legislation, geographic concentration of our markets, rapid changes in the financial services industry, and hurricanes and other adverse weather events. These and other 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/. All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

                          IBERIABANK CORPORATION
                           FINANCIAL HIGHLIGHTS


                                                For The Quarter Ended
                                                      June 30,
                                             2007         2006     % Change

  Income Data (in thousands):
     Net Interest Income                    $30,664     $22,755       35%
     Net Interest Income (TE) (1)            31,883      23,587       35%
     Net Income                              10,027       8,855       13%

  Per Share Data:
     Net Income - Basic                       $0.80       $0.95      (15%)
     Net Income - Diluted                      0.78        0.89      (13%)

     Book Value                               36.64       27.56       33%
     Tangible Book Value(2)                   16.81       17.22       (2%)
     Cash Dividends                            0.34        0.30       13%

  Number of Shares Outstanding:
     Basic Shares (Average)              12,456,110   9,354,218       33%
     Diluted Shares (Average)            12,914,251   9,939,973       30%
     Book Value Shares (Period End)(3)   12,884,113   9,664,358       33%

  Key Ratios: (4)
     Return on Average Assets                 0.87%       1.19%
     Return on Average Equity                 8.45%      13.19%
     Return on Average Tangible Equity (2)   19.34%      21.44%
     Net Interest Margin (TE) (1)             3.09%       3.44%
     Efficiency Ratio                         74.1%       62.3%
     Tangible Efficiency Ratio (TE) (1)(2)    70.8%       59.0%
     Average Loans to Average Deposits        90.5%       84.3%
     Nonperforming Assets to Total
      Assets (5)                              0.45%       0.20%
     Allowance for Loan Losses to Loans       1.19%       1.79%
     Net Charge-offs to Average Loans         0.04%       0.02%
     Average Equity to Average Total
      Assets                                 10.29%       9.06%
     Tier 1 Leverage Ratio                    6.91%       7.46%
     Dividend Payout Ratio                    43.7%       32.7%



                                                     For The Quarter Ended
                                                           March 31,
                                                    2007            % Change

  Income Data (in thousands):
     Net Interest Income                          $27,490              12%
     Net Interest Income (TE) (1)                  28,599              11%
     Net Income                                     9,155              10%

  Per Share Data:
     Net Income - Basic                             $0.79               2%
     Net Income - Diluted                            0.76               2%

     Book Value                                     36.65              (0%)
     Tangible Book Value (2)                        16.98              (1%)
     Cash Dividends                                  0.32               6%

  Number of Shares Outstanding:
     Basic Shares (Average)                    11,556,653               8%
     Diluted Shares (Average)                  12,084,051               7%
     Book Value Shares (Period End) (3)        12,886,128              (0%)

  Key Ratios: (4)
     Return on Average Assets                       0.91%
     Return on Average Equity                       8.88%
     Return on Average Tangible Equity (2)         16.67%
     Net Interest Margin (TE) (1)                   3.13%
     Efficiency Ratio                               70.4%
     Tangible Efficiency Ratio (TE) (1) (2)         66.0%
     Average Loans to Average Deposits              88.5%
     Nonperforming Assets to Total
      Assets (5)                                    0.42%
     Allowance for Loan Losses to
      Loans                                         1.28%
     Net Charge-offs to Average Loans               0.02%
     Average Equity to Average Total
      Assets                                       10.25%
     Tier 1 Leverage Ratio                          7.80%
     Dividend Payout Ratio                          45.0%


  (1) 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%.

  (2) Tangible calculations eliminate the effect of goodwill and acquisition
      related intangible assets and the corresponding amortization expense
      on a tax-effected basis where applicable.

  (3) Shares used for book value purposes exclude shares held in treasury at
      the end of the period.

  (4) All ratios are calculated on an annualized basis for the period
      indicated.

  (5) 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,
                                              2007        2006      %Change
  ASSETS
  Cash and Due From Banks                   $88,911     $63,295       40.5%
  Interest-bearing Deposits in Banks         54,540      15,550      250.7%
     Total Cash and Equivalents             143,451      78,845       81.9%
  Investment Securities Available for
   Sale                                     755,633     595,313       26.9%
  Investment Securities Held to Maturity     61,179      24,542      149.3%
     Total Investment Securities            816,812     619,855       31.8%
  Mortgage Loans Held for Sale               97,358      13,459      623.4%
  Loans, Net of Unearned Income           3,179,231   2,033,136       56.4%
  Allowance for Loan Losses                 (37,826)    (36,419)       3.9%
     Loans, net                           3,141,405   1,996,717       57.3%
  Premises and Equipment                    125,948      64,511       95.2%
  Goodwill and Other Intangibles            255,538     100,003      155.5%
  Mortgage Servicing Rights                      27          65      (58.8%)
  Other Assets                              151,261     104,154       45.2%
     Total Assets                        $4,731,800  $2,977,609       58.9%

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits             $458,113    $348,796       31.3%
  Interest-bearing Deposits               2,968,412   2,020,098       46.9%
     Total Deposits                       3,426,525   2,368,894       44.6%
  Short-term Borrowings                     349,799         745    46857.5%
  Securities Sold Under Agreements to
   Repurchase                               117,323      82,033       43.0%
  Long-term Debt                            331,780     243,133       36.5%
  Other Liabilities                          34,252      16,422      108.6%
     Total Liabilities                    4,259,679   2,711,227       57.1%
  Total Shareholders' Equity                472,121     266,382       77.2%
     Total Liabilities and Shareholders'
      Equity                             $4,731,800  $2,977,609       58.9%



  BALANCE SHEET (End of Period)                March 31,        December 31,
                                                  2007              2006
  ASSETS
  Cash and Due From Banks                       $128,860           $51,078
  Interest-bearing Deposits in Banks              19,315            33,827
     Total Cash and Equivalents                  148,175            84,905
  Investment Securities Available for
   Sale                                          778,997           558,832
  Investment Securities Held to
   Maturity                                       61,751            22,520
     Total Investment Securities                 840,748           581,352
  Mortgage Loans Held for Sale                    84,827            54,273
  Loans, Net of Unearned Income                3,034,424         2,234,002
  Allowance for Loan Losses                      (38,711)          (29,922)
     Loans, net                                2,995,713         2,204,080
  Premises and Equipment                         123,487            71,007
  Goodwill and Other Intangibles                 253,526            99,070
  Mortgage Servicing Rights                           34                42
  Other Assets                                   135,488           108,307
     Total Assets                             $4,581,998        $3,203,036

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits                  $469,281          $354,961
  Interest-bearing Deposits                    3,022,985         2,067,621
     Total Deposits                            3,492,266         2,422,582
  Short-term Borrowings                          127,839           100,000
  Securities Sold Under Agreements to
   Repurchase                                    122,258           102,605
  Long-term Debt                                 335,417           236,997
  Other Liabilities                               31,946            21,301
     Total Liabilities                         4,109,726         2,883,485
  Total Shareholders' Equity                     472,272           319,551
     Total Liabilities and
      Shareholders' Equity                    $4,581,998        $3,203,036



                                            For The Three Months Ended
  INCOME STATEMENT                                   June 30,
                                         2007           2006       % Change

  Interest Income                       $65,816       $39,893         65.0%
  Interest Expense                       35,152        17,138        105.1%
     Net Interest Income                 30,664        22,755         34.8%
  Provision for Loan Losses                (595)       (1,902)       (68.7%)
     Net Interest Income After
      Provision for Loan Losses          31,259        24,657         26.8%
  Service Charges                         5,025         3,242         55.0%
  ATM / Debit Card Fee Income             1,085           859         26.4%
  BOLI Proceeds and Cash Surrender
   Value Income                             592           515         14.9%
  Gain on Sale of Loans, net              4,910           393       1149.1%
  Title Revenue                           5,824            --           --
  Broker Commissions                      1,388           955         45.3%
  Other Noninterest Income                2,977          (706)       521.8%
     Total Noninterest Income            21,801         5,258        314.6%
  Salaries and Employee Benefits         21,169         9,440        124.2%
  Occupancy and Equipment                 5,160         2,291        125.2%
  Amortization of Acquisition
   Intangibles                              673           283        138.0%
  Other Noninterest Expense              11,899         5,448        118.4%
     Total Noninterest Expense           38,901        17,462        122.8%
     Income Before Income Taxes          14,159        12,453         13.7%
  Income Taxes                            4,132         3,598         14.8%
     Net Income                         $10,027        $8,855         13.2%

  Earnings Per Share, diluted             $0.78         $0.89        (12.8%)



                                               For The Six Months Ended
  INCOME STATEMENT                                     June 30,
                                             2007         2006      % Change

  Interest Income                          $122,916     $77,380       58.8%
  Interest Expense                           64,761      32,205      101.1%
     Net Interest Income                     58,155      45,175       28.7%
  Provision for Loan Losses                    (384)     (1,467)     (73.8%)
     Net Interest Income After
      Provision for Loan Losses              58,539      46,642       25.5%
  Service Charges                             9,046       6,244       44.9%
  ATM / Debit Card Fee Income                 2,047       1,659       23.3%
  BOLI Proceeds and Cash Surrender
   Value Income                               2,087       1,024      103.9%
  Gain on Sale of Loans, net                  7,719         786      882.1%
  Title Revenue                               8,017          --         --
  Broker Commissions                          2,664       1,897       40.4%
  Other Noninterest Income                    4,372         (85)    5240.1%
     Total Noninterest Income                35,952      11,525      212.0%
  Salaries and Employee Benefits             38,218      19,011      101.0%
  Occupancy and Equipment                     9,095       4,631       96.4%
  Amortization of Acquisition
   Intangibles                                1,209         573      110.8%
  Other Noninterest Expense                  19,682      10,362       90.0%
     Total Noninterest Expense               68,204      34,577       97.3%
     Income Before Income Taxes              26,287      23,590       11.4%
  Income Taxes                                7,105       6,689        6.2%
     Net Income                             $19,182     $16,901       13.5%

  Earnings Per Share, diluted                 $1.53       $1.71      (10.0%)



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

                                                For The Quarter Ended
  BALANCE SHEET (Average)                 June 30,   March 31,  December 31,
                                            2007        2007        2006
  ASSETS
  Cash and Due From Banks                   $79,968     $73,422     $49,304
  Interest-bearing Deposits in Banks         32,324      42,549      18,661
  Investment Securities                     824,705     755,780     608,489
  Mortgage Loans Held for Sale               89,505      55,726      22,398
  Loans, Net of Unearned Income           3,112,722   2,749,118   2,204,048
  Allowance for Loan Losses                 (38,421)    (34,965)    (33,899)
  Other Assets                              522,970     434,815     279,359
     Total Assets                        $4,623,773  $4,076,445  $3,148,360

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits             $448,652    $409,774    $342,374
  Interest-bearing Deposits               2,989,449   2,696,535   2,064,653
     Total Deposits                       3,438,101   3,106,309   2,407,027
  Short-term Borrowings                     222,110     113,537      77,978
  Securities Sold Under Agreements to
   Repurchase                               123,116     110,851      98,216
  Long-term Debt                            331,561     297,614     243,573
  Other Liabilities                          33,178      30,099      23,296
     Total Liabilities                    4,148,066   3,658,410   2,850,090
  Total Shareholders' Equity                475,707     418,035     298,270
     Total Liabilities and Shareholders'
      Equity                             $4,623,773  $4,076,445  $3,148,360



                                                  For The Quarter Ended
  BALANCE SHEET (Average)                     September 30,        June 30,
                                                   2006              2006
  ASSETS
  Cash and Due From Banks                        $49,863           $53,353
  Interest-bearing Deposits in Banks              11,415            44,704
  Investment Securities                          619,057           648,391
  Mortgage Loans Held for Sale                    17,166            11,691
  Loans, Net of Unearned Income                2,089,350         1,989,875
  Allowance for Loan Losses                      (35,642)          (38,581)
  Other Assets                                   271,198           263,180
     Total Assets                             $3,022,407        $2,972,613

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Noninterest-bearing Deposits                  $334,453          $331,272
  Interest-bearing Deposits                    2,018,469         2,029,683
     Total Deposits                            2,352,922         2,360,955
  Short-term Borrowings                           43,101             3,399
  Securities Sold Under Agreements to
   Repurchase                                     96,942            76,440
  Long-term Debt                                 238,058           243,462
  Other Liabilities                               17,240            19,117
     Total Liabilities                         2,748,263         2,703,373
  Total Shareholders' Equity                     274,144           269,240
     Total Liabilities and
      Shareholders' Equity                    $3,022,407        $2,972,613



                                                           2007
                                                Second               First
  INCOME STATEMENT                              Quarter             Quarter

  Interest Income                               $65,816             $57,100
  Interest Expense                               35,152              29,610
     Net Interest Income                         30,664              27,490
  Provision for Loan Losses                        (595)                211
     Net Interest Income After
      Provision for Loan Losses                  31,259              27,279
  Total Noninterest Income                       21,801              14,152
  Total Noninterest Expense                      38,901              29,303
     Income Before Income Taxes                  14,159              12,128
  Income Taxes                                    4,132               2,973
     Net Income                                 $10,027              $9,155

  Earnings Per Share, basic                       $0.80               $0.79

  Earnings Per Share, diluted                     $0.78               $0.76

  Book Value Per Share                           $36.64              $36.65

  Return on Average Assets                        0.87%               0.91%
  Return on Average Equity                        8.45%               8.88%
  Return on Average Tangible Equity              19.34%              16.67%



                                                      2006
                                         Fourth       Third        Second
  INCOME STATEMENT                      Quarter      Quarter      Quarter

  Interest Income                        $44,266      $43,645      $39,893
  Interest Expense                        21,845       19,719       17,138
     Net Interest Income                  22,421       23,926       22,755
  Provision for Loan Losses               (3,947)      (2,389)      (1,902)
     Net Interest Income After
      Provision for Loan Losses           26,368       26,315       24,657
  Total Noninterest Income                 4,651        7,275        5,258
  Total Noninterest Expense               18,960       19,591       17,462
     Income Before Income Taxes           12,059       13,999       12,453
  Income Taxes                             3,144        4,120        3,598
     Net Income                           $8,915       $9,879       $8,855

  Earnings Per Share, basic                $0.93        $1.06        $0.95

  Earnings Per Share, diluted              $0.87        $0.99        $0.89

  Book Value Per Share                    $31.07       $28.90       $27.56

  Return on Average Assets                 1.12%        1.30%        1.19%
  Return on Average Equity                11.86%       14.30%       13.19%
  Return on Average Tangible Equity       18.15%       22.90%       21.44%



                          IBERIABANK CORPORATION
               CONDENSED CONSOLIDATED FINANCIAL INFORMATION
                          (dollars in thousands)

  LOANS RECEIVABLE                                      June 30,
                                             2007         2006      % Change
  Residential Mortgage Loans:
     Residential 1-4 Family                $511,636     $451,476      13.3%
     Construction / Owner occupied           57,123       31,586      80.8%
        Total Residential Mortgage
         Loans                              568,759      483,062      17.7%
  Commercial Loans:
     Real Estate                          1,229,037      620,760      98.0%
     Business                               573,133      396,885      44.4%
        Total Commercial Loans            1,802,170    1,017,645      77.1%
  Consumer Loans:
     Indirect Automobile                    235,006      227,406       3.3%
     Home Equity                            396,341      228,955      73.1%
     Automobile                              33,457       23,093      44.9%
     Credit Card Loans                       51,216        7,842     553.1%
     Other                                   92,282       45,133     104.5%
        Total Consumer Loans                808,302      532,429      51.8%
        Total Loans Receivable            3,179,231    2,033,136      56.4%
  Allowance for Loan Losses                 (37,826)     (36,419)
     Loans Receivable, Net               $3,141,405   $1,996,717



  LOANS RECEIVABLE                             March 31,        December 31,
                                                 2007              2006
  Residential Mortgage Loans:
     Residential 1-4 Family                     $515,423          $431,585
     Construction / Owner occupied                54,272            45,285
        Total Residential Mortgage
         Loans                                   569,695           476,870
  Commercial Loans:
     Real Estate                               1,163,034           750,051
     Business                                    525,061           461,048
        Total Commercial Loans                 1,688,095         1,211,099
  Consumer Loans:
     Indirect Automobile                         228,099           228,301
     Home Equity                                 393,835           233,885
     Automobile                                   32,719            24,179
     Credit Card Loans                            47,411             8,829
     Other                                        74,570            50,839
        Total Consumer Loans                     776,634           546,033
        Total Loans Receivable                 3,034,424         2,234,002
  Allowance for Loan Losses                      (38,711)          (29,922)
     Loans Receivable, Net                    $2,995,713        $2,204,080



  ASSET QUALITY DATA                                   June 30,
                                             2007        2006      % Change
  Nonaccrual Loans                         $14,250      $4,340      228.4%
  Foreclosed Assets                             12          14      (15.5%)
  Other Real Estate Owned                    4,254         273     1458.8%
  Accruing Loans More Than 90 Days Past
   Due                                       2,584       1,469       75.9%
  Total Nonperforming Assets (1)           $21,100      $6,096      246.1%

  Nonperforming Assets to Total Assets
   (1)                                       0.45%       0.20%      117.8%
  Nonperforming Assets to Total Loans
   and OREO (1)                              0.66%       0.30%      121.1%
  Allowance for Loan Losses to
   Nonperforming Loans (1)                  224.7%      627.0%      (64.2%)
  Allowance for Loan Losses to
   Nonperforming Assets (1)                 179.3%      597.4%      (70.0%)
  Allowance for Loan Losses to Total
   Loans                                     1.19%       1.79%      (33.6%)
  Year to Date Charge-offs                  $1,816      $1,487       22.1%
  Year to Date Recoveries                  $(1,358)    $(1,291)       5.2%
  Year to Date Net Charge-offs                $458        $196      133.5%
  Quarter to Date Net Charge-offs             $294        $117      150.6%



  ASSET QUALITY DATA                           March 31,        December 31,
                                                 2007              2006
  Nonaccrual Loans                               $15,556            $2,701
  Foreclosed Assets                                   11                 8
  Other Real Estate Owned                          3,340             2,000
  Accruing Loans More Than 90 Days Past
   Due                                               395               310
  Total Nonperforming Assets (1)                 $19,302            $5,019

  Nonperforming Assets to Total Assets
   (1)                                             0.42%             0.16%
  Nonperforming Assets to Total Loans
   and OREO (1)                                    0.64%             0.22%
  Allowance for Loan Losses to
   Nonperforming Loans (1)                        242.7%            993.7%
  Allowance for Loan Losses to
   Nonperforming Assets (1)                       200.6%            596.2%
  Allowance for Loan Losses to Total
   Loans                                           1.28%             1.34%
  Year to Date Charge-offs                          $894            $2,621
  Year to Date Recoveries                          $(730)          $(2,264)
  Year to Date Net Charge-offs                      $164              $357
  Quarter to Date Net Charge-offs                   $164               $85

  (1) 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,
                                           2007           2006     % Change

  Noninterest-bearing Demand Accounts    $458,113       $348,796     31.3%
  NOW Accounts                            834,336        628,335     32.8%
  Savings and Money Market Accounts       773,124        584,396     32.3%
  Certificates of Deposit               1,360,952        807,367     68.6%
     Total Deposits                    $3,426,525     $2,368,894     44.6%



  DEPOSITS                                     March 31,        December 31,
                                                 2007              2006

  Noninterest-bearing Demand Accounts           $469,281          $354,961
  NOW Accounts                                   855,472           628,541
  Savings and Money Market Accounts              769,539           588,202
  Certificates of Deposit                      1,397,974           850,878
     Total Deposits                           $3,492,266        $2,422,582



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


                                              For The Quarter Ended
                                        June 30, 2007       March 31, 2007
                                       Average   Average   Average   Average
                                       Balance   Yield/    Balance   Yield/
                                                 Rate(%)             Rate(%)
  ASSETS
  Earning Assets:
  Loans Receivable:
  Mortgage Loans                        $569,351  5.85%    $538,731   5.76%
  Commercial Loans (TE) (1)            1,751,960  6.91%   1,515,352   6.81%
  Consumer and Other Loans               791,411  7.59%     695,035   7.58%
  Total  Loans                         3,112,722  6.89%   2,749,118   6.80%
  Mortgage Loans Held for Sale            89,505  5.64%      55,726   6.09%
  Investment  Securities (TE) (1)(2)     827,002  5.26%     759,401   5.11%
  Other  Earning Assets                   63,829  6.15%      73,192   5.91%
  Total  Earning Assets                4,093,058  6.52%   3,637,437   6.42%
   Allowance for Loan Losses             (38,421)           (34,965)
   Nonearning Assets                     569,136            473,973
  Total Assets                        $4,623,773         $4,076,445

  LIABILITIES AND SHAREHOLDERS'
   EQUITY
  Interest-bearing Liabilities:
     Deposits:
        NOW Accounts                    $845,560  2.62%    $787,584   2.70%
        Savings and Money Market
         Accounts                        770,496  2.79%     701,912   2.73%
        Certificates of Deposit        1,373,393  4.67%   1,207,039   4.53%
           Total Interest-bearing
            Deposits                   2,989,449  3.60%   2,696,535   3.53%
     Short-term Borrowings               345,226  4.48%     224,388   4.12%
     Long-term Debt                      331,561  5.23%     297,614   5.20%
           Total Interest-bearing
            Liabilities                3,666,236  3.83%   3,218,537   3.72%
  Noninterest-bearing Demand Deposits    448,652            409,774
  Noninterest-bearing Liabilities         33,178             30,099
           Total Liabilities           4,148,066          3,658,410
  Shareholders' Equity                   475,707            418,035
           Total Liabilities and
            Shareholders' Equity      $4,623,773         $4,076,445


  Net Interest Spread                    $30,664  2.69%     $27,490   2.70%
  Tax-equivalent Benefit                   1,219  0.12%       1,109   0.12%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (1)              $31,883  3.09%     $28,599   3.13%



                                                   For The Quarter Ended
                                                      June 30, 2006
                                                 Average         Average
                                                 Balance       Yield/Rate(%)
  ASSETS
  Earning Assets:
  Loans Receivable:
  Mortgage Loans                                   $472,601           5.49%
  Commercial Loans (TE) (1)                         988,018           6.47%
  Consumer and Other Loans                          529,256           7.11%
  Total  Loans                                    1,989,875           6.41%
  Mortgage Loans Held for Sale                       11,691           6.15%
  Investment  Securities (TE) (1)(2)                659,552           4.67%
  Other  Earning Assets                              64,863           5.00%
  Total  Earning Assets                           2,725,981           5.95%
   Allowance for Loan Losses                        (38,581)
   Nonearning Assets                                285,213
  Total Assets                                   $2,972,613

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Interest-bearing Liabilities:
     Deposits:
        NOW Accounts                               $637,921           2.43%
        Savings and Money Market
         Accounts                                   593,040           1.85%
        Certificates of Deposit                     798,722           3.67%
           Total Interest-bearing
            Deposits                              2,029,683           2.75%
     Short-term Borrowings                           79,839           2.35%
     Long-term Debt                                 243,462           4.47%
           Total Interest-bearing
            Liabilities                           2,352,984           2.91%
  Noninterest-bearing Demand Deposits               331,272
  Noninterest-bearing Liabilities                    19,117
           Total Liabilities                      2,703,373
  Shareholders' Equity                              269,240
           Total Liabilities and
            Shareholders' Equity                 $2,972,613


  Net Interest Spread                               $22,755           3.04%
  Tax-equivalent Benefit                                832           0.12%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (1)                         $23,587           3.44%


  (1) 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%.

  (2) 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, 2007      June 30, 2006
                                        Average   Average  Average   Average
                                        Balance   Yield/   Balance   Yield/
                                                  Rate(%)            Rate(%)
  ASSETS
  Earning Assets:
  Loans Receivable:
  Mortgage Loans                         $554,126  5.81%    $466,972  5.46%
  Commercial Loans (TE) (1)             1,634,310  6.87%     964,656  6.39%
  Consumer and Other Loans                743,489  7.59%     529,364  7.07%
  Total  Loans                          2,931,925  6.85%   1,960,992  6.35%
  Mortgage Loans Held for Sale             72,709  5.81%      10,634  6.26%
  Investment  Securities (TE) (1)(2)      793,388  5.19%     639,937  4.63%
  Other  Earning Assets                    68,485  6.02%      69,615  4.72%
  Total  Earning Assets                 3,866,507  6.47%   2,681,178  5.90%
   Allowance for Loan Losses              (36,702)           (38,399)
   Nonearning Assets                      521,816            287,510
  Total Assets                         $4,351,621         $2,930,289

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Interest-bearing Liabilities:
     Deposits:
        NOW Accounts                     $816,732  2.65%    $624,826  2.29%
        Savings and Money Market
         Accounts                         736,393  2.76%     577,305  1.75%
        Certificates of Deposit         1,290,676  4.60%     786,881  3.55%
           Total Interest-bearing
            Deposits                    2,843,801  3.57%   1,989,012  2.63%
     Short-term Borrowings                285,141  4.34%      73,516  2.13%
     Long-term Debt                       314,682  5.21%     245,338  4.41%
           Total Interest-bearing
            Liabilities                 3,443,624  3.78%   2,307,866  2.81%
  Noninterest-bearing Demand Deposits     429,320            333,929
  Noninterest-bearing Liabilities          31,647             19,826
           Total Liabilities            3,904,591          2,661,621
  Shareholders' Equity                    447,030            268,668
           Total Liabilities and
            Shareholders' Equity       $4,351,621         $2,930,289


  Net Interest Spread                     $58,155  2.69%     $45,175  3.09%
  Tax-equivalent Benefit                    2,328  0.12%       1,691  0.13%
  Net Interest Income (TE) / Net
   Interest Margin (TE) (1)               $60,483  3.11%     $46,866  3.48%


  (1) 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%.

  (2) 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
                                          6/30/2007   3/31/2007   6/30/2006

  Net Interest Income                      $30,664     $27,490     $22,755
  Effect of Tax Benefit on Interest
   Income                                    1,219       1,109         832
     Net Interest Income (TE) (1)           31,883      28,599      23,587
  Noninterest Income                        21,801      14,152       5,258
  Effect of Tax Benefit on Noninterest
   Income                                      319         805         277
     Noninterest Income (TE) (1)            22,120      14,957       5,535
      Total Revenues (TE) (1)              $54,003     $43,556     $29,122

  Total Noninterest Expense                $38,901     $29,303     $17,462
  Less Intangible Amortization Expense        (673)       (536)       (283)
     Tangible Operating Expense (2)        $38,228     $28,767     $17,179

  Return on Average Equity                   8.45%       8.88%      13.19%
    Effect of Intangibles (2)               10.89%       7.79%       8.25%
  Return on Average Tangible Equity (2)     19.34%      16.67%      21.44%

  Efficiency Ratio                           74.1%       70.4%       62.3%
  Effect of Tax Benefit Related to Tax
   Exempt Income                             (2.1%)      (3.1%)      (2.3%)
    Efficiency Ratio (TE) (1)                72.0%       67.3%       60.0%
  Effect of Amortization of Intangibles      (1.2%)      (1.3%)      (1.0%)
    Tangible Efficiency Ratio (TE) (1)(2)    70.8%       66.0%       59.0%

  (1) 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%.

  (2) Tangible calculations eliminate the effect of goodwill and acquisition
      related intangible assets and the corresponding amortization expense
      on a tax-effected basis where applicable.

First Call Analyst:
FCMN Contact: mvallot@iberiabank.com

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