Edgar Filing: Florida Bank Group, Inc.

Rule 425 Filing

Filed by IBERIABANK Corporation

Pursuant to Rule 425 under the Securities Act of 1933,

as amended

Subject Company: Florida Bank Group, Inc.

Commission File No: 000-53813

LOGO

FOR IMMEDIATE RELEASE

October 22, 2014

Contact:

Daryl G. Byrd, President and CEO (337) 521-4003

John R. Davis, Senior Executive Vice President (337) 521-4005

IBERIABANK Corporation Reports Continued Improvement in Operating Results

LAFAYETTE, LOUISIANA — IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 127-year-old IBERIABANK (www.iberiabank.com), reported operating results for the third quarter ended September 30, 2014. For the quarter, the Company reported income available to common shareholders of $29.7 million, or $0.89 per fully diluted earnings per share. In the third quarter of 2014, the Company incurred non-operating income and costs equal to $5.8 million on a pre-tax basis, or $0.11 per share on an after-tax basis. Excluding non-operating items, EPS in the third quarter of 2014 was $1.00 per share on a non-GAAP operating basis, compared to $0.96 per share in the second quarter of 2014 (refer to press release supplemental table.)

The Company completed the acquisitions of Teche Holding Company (“Teche”) on May 31, 2014, and First Private Holdings, Inc. (“First Private”) on June 30, 2014. Financial statements reflect the impact of the acquisitions beginning on their respective acquisition dates and are subject to future refinements to purchase accounting adjustments. The conversions of branch and operating systems for Teche were successfully completed over the weekend of June 28-29, 2014, and for First Private over the weekend of September 6-7, 2014. The Company incurred approximately $3.0 million in pre-tax conversion-related and severance costs during the third quarter of 2014.

Daryl G. Byrd, President and Chief Executive Officer, commented, “We are proud of the healthy improvement in our operating performance in the third quarter. We experienced strong annualized organic loan and deposit growth equal to 16% and 13%, respectively. Our operating leverage continued to improve as tax-equivalent operating revenues climbed $9 million, or 6%, while operating expenses increased $3 million, or 3%. Based on the assumptions in our current forecasts and our third quarter results, we expect our operating EPS for the full-year 2014 will be on the upper-end of our previously provided EPS guidance range of $3.65 to $3.70 per share. We remain focused on enhancing long-term shareholder value through improved operating leverage and profitability and we are progressing well on our strategic financial targets.”

Byrd continued, “We are also particularly pleased with our continuous focus on franchise development. Our team has demonstrated an ability to expand our client base through various credit and interest rate cycles over the last 15 years and we have done so in an extraordinarily high-quality manner. Our growth has been achieved through both organic and acquisition means. We are delighted to find strategic partners who share our vision of exceptional client service, franchise strength, and opportunity.”

Highlights for the third quarter of 2014 and September 30, 2014:

•

On October 3, 2014, the Company announced the signing of a definitive agreement to acquire by merger Florida Bank Group, Inc. (“Florida Bank Group”) based in Tampa, Florida. At September 30, 2014, Florida Bank Group had total assets of $518 million, gross loans of $324 million, and total deposits of $393 million. The Company anticipates closing the transaction in the first quarter of 2015, subject to customary closing conditions, including the receipt of regulatory approvals and the approval of Florida Bank Group’s shareholders.

•

The Company’s tangible operating efficiency ratio improved from 68.3% in the second quarter of 2014 to 66.4% in the third quarter of 2014. Based on current estimates, the Company forecasts a tangible efficiency ratio of approximately 67% in the fourth quarter of 2014.

•

On a linked quarter basis, operating non-interest income decreased $2.9 million, or 6%, in the third quarter of 2014. Mortgage income decreased $5.1 million, or 29%, title revenue increased $0.3 million, or 6%, service charge income increased $2.0 million, or 24%, and capital markets income decreased $0.3 million, or 9%, on a linked quarter basis.

•

Total loan growth was $181 million, or 2%, between quarter-ends, while legacy loan growth, which excludes all assets covered under FDIC loss share agreements and other non-covered acquired assets (collectively, “Acquired Assets”), increased $348 million, or 4%, between quarter-ends (16% annualized rate). The loan growth was well balance between small business (25%), consumer (33%), and commercial (42%).

•

Total deposits increased $397 million, or 3%, between quarter-ends. Core deposits, which excludes time deposits, increased $307 million, or 3% (12% annualized rate). Non-interest-bearing deposits increased $110 million, or 4%, between quarter-ends (14% on an annualized basis).

•

The Company’s legacy asset quality remained strong in the third quarter of 2014. At September 30, 2014, and excluding Acquired Assets, nonperforming assets (“NPAs”) equated to 0.46% of total assets, loans past due 30 days or more equated to 0.55% of total loans, and classified assets equated to 0.50% of total assets.

•

Net charge-offs totaled $2.2 million in the third quarter of 2014, or an annualized 0.08% of average loans. Over the past 11 quarters, net charge-offs averaged 0.05% of average loans. The Company recorded a $5.7 million loan loss provision, compared to $4.7 million in the second quarter of 2014.

•

The net interest margin decreased one basis point on a linked quarter basis to 3.47%, which was within the previously disclosed guidance range of 3.45% to 3.50%. The Company’s growth in excess liquidity during the third quarter accounted for a one basis point decline in the net interest margin on a linked quarter basis. Based on interest rate risk modeling and other factors, management stated its expectation of the net interest margin in the fourth quarter of 2014 to be in the range of 3.40% to 3.45%.

Table A - Summary Financial Results


	For the Quarter Ended:									Linked Quarter
Selected Financial Data	9/30/2013			6/30/2014			9/30/2014			% Change
Net Income ($ in thousands)	$	23,192		$	18,548		$	29,744			60	%
Per Share Data:
Fully Diluted Earnings	$	0.78		$	0.60		$	0.89			48	%
Operating Earnings (Non-GAAP)		0.83			0.96			1.00			4	%
Pre-provision Operating Earnings (Non-GAAP)		0.89			1.06			1.11			5	%
Tangible Book Value		37.00			37.41			37.91			1	%


	As of and for the Quarter Ended:									Linked Quarter
Key Ratios	9/30/2013			6/30/2014			9/30/2014			Basis Point Change
Return on Average Assets		0.71	%		0.53	%		0.76	%		23	bps
Return on Average Common Equity		6.08	%		4.56	%		6.52	%		196	bps
Return on Average Tangible Common Equity (Non-GAAP)		8.74	%		6.62	%		9.68	%		306	bps
Net Interest Margin (TE) ⁽¹⁾		3.37	%		3.48	%		3.47	%		(1	) bps
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) ⁽¹⁾		73.0	%		68.3	%		66.4	%		(183	) bps
Tangible Common Equity Ratio (Non-GAAP)		8.64	%		8.46	%		8.47	%		1	bps
Tier 1 Leverage Ratio		9.65	%		10.03	%		9.22	%		(81	) bps
Tier 1 Common Ratio (Non-GAAP)		10.95	%		10.33	%		10.34	%		1	bps
Total Risk Based Capital Ratio		13.28	%		12.43	%		12.42	%		(1	) bps
Net Charge-Offs to Average Loans ⁽²⁾		0.02	%		0.04	%		0.09	%		5	bps
Non-performing Assets to Total Assets ⁽²⁾		0.66	%		0.53	%		0.46	%		(7	) bps


	For the Quarter Ended:
Adjusted Selected Key Ratios	GAAP 9/30/2014			Adjustments⁽³⁾			Non-GAAP 9/30/2014
Return on Average Assets		0.76	%		0.10	%		0.86	%
Return on Average Common Equity		6.52	%		0.83	%		7.35	%
Return on Average Tangible Common Equity (Non-GAAP)		9.68	%		1.19	%		10.87	%
Tangible Efficiency Ratio (TE)⁽¹⁾ (Non-GAAP)		70.9	%		(4.4	%)		66.4	%

⁽¹⁾	Fully taxable equivalent basis.

⁽²⁾	Excluding FDIC Covered Assets and Acquired Assets.

⁽³⁾	Adjusted results exclude the income statement impact of the non-operating items included in Table 11, net of tax where applicable, without adjustment to any balance sheet accounts.

Refer to press release supplemental table for a reconciliation of GAAP and non-GAAP measures.

Operating Results

On a linked quarter basis, average earning assets increased $1.3 billion, or 10%, as average loans increased $1.0 billion, or 10%, average indemnification asset (“IA”) declined $20 million, or 15%, average investment securities increased $28 million, or 1%, and other earning assets increased $259 million, or 84%. Also on a linked quarter basis, the average earning asset yield increased one basis point, and the cost of interest-bearing liabilities increased three basis points. As a result, the net interest spread decreased two basis points, and the net interest margin decreased one basis point. Tax-equivalent net interest income increased $12 million, or 11%, as average earning assets increased significantly while the net interest margin declined slightly.

Table B - Quarterly Average Yields/Cost ⁽¹⁾


	For Quarter Ended:									Linked Quarter
	9/30/2013			6/30/2014			9/30/2014			Basis Point Change
Investment Securities		1.98	%		2.24	%		2.20	%		(4	) bps
Covered Loans, net of loss share receivable		2.88	%		3.16	%		3.07	%		(9	) bps
Non-covered Loans		4.39	%		4.30	%		4.37	%		7	bps

Loans & Loss Share Receivable		4.21	%		4.22	%		4.29	%		7	bps
Mortgage Loans Held For Sale		4.32	%		4.21	%		3.84	%		(37	) bps
Other Earning Assets		0.89	%		0.82	%		0.60	%		(22	) bps

Total Earning Assets		3.74	%		3.80	%		3.81	%		1	bps

Interest-bearing Deposits		0.40	%		0.35	%		0.40	%		5	bps
Short-Term Borrowings		0.14	%		0.16	%		0.17	%		1	bps
Long-Term Borrowings		3.37	%		3.34	%		2.75	%		(59	) bps

Total Interest-bearing Liabilities		0.49	%		0.43	%		0.46	%		3	bps

Net Interest Spread		3.25	%		3.38	%		3.36	%		(2	) bps
Net Interest Margin		3.37	%		3.48	%		3.47	%		(1	) bps

⁽¹⁾Earning asset yields are shown on a fully taxable-equivalent basis.

During the third quarter, the non-covered loan yield increased seven basis points, while the net covered loan yield (net of IA amortization) decreased nine basis points. The average covered loan volume declined $66 million, or 11%. As a result of the reduction in yield and volume, the associated net covered income declined $0.8 million on a linked quarter basis, which was slightly better than management’s expectations.

For the fourth quarter of 2014, the Company projects the prospective yield on the covered loan portfolio net of the IA amortization to approximate 3.68%, compared to 3.07% in the third quarter. The average balance of the net covered loan portfolio is projected to decline approximately $62 million, based on current cash flow assumptions and estimates. Net income on the covered loan portfolio is projected to increase approximately $0.2 million between the third and fourth quarters of 2014. In the third quarter of 2014, the net covered income equated to less than 4% of total net interest income, compared to 11% in the full year of 2013.

On a period-end basis, the IA declined $26 million, or 21%, from $121 million at June 30, 2014, to $95 million at September 30, 2014. During the third quarter of 2014, the Company included an impairment charge on its IA of $4.8 million, which is included in non-operating expenses in Table 11. The impairment charge was a result of a change in the timing of covered OREO sales that were deferred to early 2015. The portion of the IA collectible from the FDIC increased $6 million, or 27%. Approximately $5 million of the $6 million increase in FDIC-related IA is considered temporary and will likely reverse in the fourth quarter of 2014 due to the anticipated collection of certificate proceeds. The portion of the IA collectible from other real estate owned (“OREO”) and customers declined $32 million, or 32%.

Aggregate non-interest income decreased $2.3 million, or 5%, on a linked quarter basis. Excluding non-operating items, operating non-interest income decreased $2.9 million, or 6%. The primary changes in operating non-interest income on a linked quarter basis were:

•

Decreased mortgage income of $5.1 million, or 29%;

•

Decreased fees on client derivative income of $0.6 million, or 60%; and

•

Decreased capital markets revenue of $0.3 million, or 9%; partially offset by

•

Increased service charge income of $2.0 million, or 24%;

•

Increased ATM/debit card fee income of $0.4 million, or 12%; and

•

Increased title revenue of $0.3 million, or 6%.

The $5.1 million decrease in mortgage income was primarily the result of $7 million lower market value adjustments (a negative $4.5 million adjustment in the third quarter of 2014 compared to a $2.5 million positive adjustment in the second quarter of 2014.) The Company experienced higher production and sales volumes, and favorable pricing dynamics. Mortgage commission and production incentives expense (which is included in non-interest expense) increased $0.4 million, or 12%, on a linked quarter basis.

In the third quarter of 2014, the Company originated $456 million in residential mortgage loans, up $20 million, or 5%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 25% of mortgage loan applications in the third quarter of 2014, compared to 13% in the second quarter of 2014. The Company sold $488 million in mortgage loans during the third quarter of 2014, up $93 million, or 24%, on a linked quarter basis. The mortgage origination locked pipeline and loans held for sale decreased $40 million, or 11% between June 30, 2014, and September 30, 2014. At October 10, 2014, the locked pipeline was $194 million, up $15 million, or 8% compared to September 30, 2014. The mortgage loan origination business primarily focuses on retail mortgage loans originated by the Company.

Service charge income increased $2.0 million, or 24%, on a linked quarter basis. This revenue increase was significantly influenced by the Teche and First Private acquisitions and seasonality differences between the quarters.

Assets under management at IBERIA Wealth Advisors (“IWA”) were $1.2 billion at September 30, 2014. Due to seasonal influences and other factors, revenues for IWA decreased 4% on a linked quarter basis, and were down 3% compared to the third quarter of 2013. IBERIA Financial Services revenues increased 4% on a linked quarter basis, and were up 12% compared to the third quarter of 2013. IBERIA Capital Partners experienced a $0.3 million, or 9% decline in revenues on a linked quarter basis, due to lower investment banking income as a result of negative market conditions, partially offset by improved trading and research income.

Non-interest expense decreased $7.3 million, or 6%, on a linked quarter basis, while operating expense increased $3.4 million, or 3%. The third quarter of 2014 included the operating expenses of Teche and First Private for a full three-month period, whereas the second quarter of 2014 included only one month of Teche’s operating expenses. The differential in operating expenses due to the timing of the consummation of the acquisitions was approximately $1.7 million. Operating expense changes included the following on a linked-quarter basis:

•

Increased provision for unfunded commitments (included in credit/loan related expense) of $1.1 million;

•

Increased hospitalization expense of $1.0 million, or 26%;

•

Increased occupancy and equipment expense of $0.7 million, or 5%; and

•

Increased mortgage commissions of $0.4 million, or 12%; partially offset by

•

Decreased other salary and benefit expenses of $1.0 million, or 2%.

Through the third quarter of 2014, the Company achieved approximately 85% of the targeted run-rate expense savings of $10.7 million. The Company continues to review its operating metrics for future opportunities to improve revenues and reduce expenses, and remains comfortable with the targeted run-rate savings during 2014.

Loans

Total loans increased $181 million, or 2%, between June 30, 2014, and September 30, 2014. The loan portfolio covered under FDIC loss share protection at September 30, 2014, decreased $61 million, or 10%, compared to June 30, 2014. Excluding covered and Acquired Assets, total loans increased $348 million, or 4% (16% annualized rate), during the third quarter. Legacy commercial loans increased $234 million, or 4% (which included $87 million in business banking loan growth, up 12%, or 48% annualized rate), legacy consumer loans increased $74 million, or 4%, and legacy mortgage loans increased $39 million, or 9%, during the quarter. Loan origination and renewal growth during the third quarter of 2014 were strongest in the Houston, Acadiana, New Orleans, Dallas, and Naples markets. Funded loan origination and renewal mix in the third quarter of 2014 was 44% fixed rate and 56% floating rate, and total loans outstanding (excluding nonaccruals) were 49% fixed and 51% floating. Loans and commitments originated and/or renewed during the third quarter of 2014 totaled $1.2 billion (up 26% on a linked quarter basis). Energy-related loans outstanding totaled $840 million at September 30, 2014, up $21 million, or 3%, compared to June 30, 2014, and equated to approximately 8% of total loans. The Company had no student loans outstanding at September 30, 2014.

Table C - Period-End Loans ($ in Millions)


	Period-End Balances ($ Millions)						% Change ⁽¹⁾									Mix
	9/30/13		6/30/14		9/30/14		Year/Year			Qtr/Qtr			Annualized			6/30/14			9/30/14
Commercial	$	5,541	$	6,387	$	6,622		20	%		4	%		15	%		59	%		60	%
Consumer		1,789		1,987		2,061		15	%		4	%		15	%		18	%		19	%
Mortgage		390		458		497		27	%		9	%		34	%		4	%		4	%

Legacy Loans	$	7,720	$	8,832	$	9,180		19	%		4	%		16	%		81	%		83	%
Acquired Loans		516		1,481		1,375		166	%		-7	%		-29	%		14	%		12	%
Covered Loans		807		585		524		-35	%		-10	%		-42	%		5	%		5	%

Total Loans	$	9,043	$	10,899	$	11,079		23	%		2	%		7	%		100	%		100	%

Deposits

Total deposits increased $397 million, or 3%, from June 30, 2014 to September 30, 2014. Non-interest-bearing deposits increased $110 million, or 4%, and equated to 26% of total deposits at September 30, 2014. NOW accounts decreased $39 million, or 2%, while money market and savings account volume increased $237 million, or 5%, between June 30, 2014 and September 30, 2014. Time deposits increased $89 million, or 4% between quarter-ends. Period-end deposit growth during the third quarter of 2014 was strongest in the Houston, New Orleans, Little Rock, Dallas, and Birmingham markets.

Table D - Period-End Deposits ($ in Millions)


	Period-End Balances ($ Millions)						% Change ⁽¹⁾									Mix
	9/30/13		6/30/14		9/30/14		Year/Year			Qtr/Qtr			Annualized			6/30/14			9/30/14
Non-interest	$	2,529	$	3,047	$	3,157		25	%		4	%		14	%		25	%		25	%
NOW Accounts		2,137		2,234		2,195		3	%		-2	%		-7	%		19	%		18	%
Savings/MMkt		4,421		4,685		4,922		11	%		5	%		20	%		39	%		40	%
Time Deposits		1,864		2,015		2,104		13	%		4	%		18	%		17	%		17	%

Total Deposits	$	10,951	$	11,981	$	12,378		13	%		3	%		13	%		100	%		100	%

⁽¹⁾	Year over Year growth includes the impact of acquisitions.

On an average balance and linked quarter basis, non-interest-bearing deposits increased $309 million, or 11%, and interest-bearing deposits increased $842 million, or 10%. The rate on average interest-bearing deposits in the third quarter of 2014 was 0.40%, an increase of five basis points on a linked quarter basis.

Other Assets And Funding

Excess liquidity averaged $489 million in the third quarter of 2014, up $252 million, or 106%, on a linked quarter basis. The investment portfolio increased $47 million, or 2%, to $2.2 billion on average in the third quarter of 2014. On a period-end basis, the investment portfolio equated to $2.2 billion, or 14% of total assets at September 30, 2014, unchanged compared to June 30, 2014. The investment portfolio had an effective duration of 3.2 years at September 30, 2014, a slight decrease compared to June 30, 2014. The investment portfolio had a $0.6 million unrealized gain at September 30, 2014. The average yield on investment securities decreased four basis points on a linked quarter basis to 2.20% in the third quarter of 2014. The Company holds in its investment portfolio primarily

government agency securities. Municipal securities comprised only 7% of total investments at September 30, 2014. The Company holds for investment no sovereign debt, corporate debt or equity securities, trust preferred securities, or derivative exposure to foreign counterparties.

On a linked quarter basis, average short-term debt increased $12 million, or 1%, and the cost of short-term debt increased one basis point. Average long-term debt increased $54 million, or 18%, and the cost of debt decreased 59 basis points to 2.75%. The cost of average interest-bearing liabilities was 0.46% in the third quarter of 2014, an increase of three basis points on a linked quarter basis.

Asset Quality

Legacy assets consist of assets originated by the company and not acquired. To provide additional consistency and transparency for financial reporting of Acquired Assets, the Company divides Acquired Assets into these distinct categories:

Acquired Assets that are scheduled to lose FDIC loss share coverage on October 1, 2014;

Acquired Assets that are scheduled to lose FDIC loss share coverage over the next 12 months;

Acquired Assets that will continue to be covered under FDIC loss share coverage beyond the next 12 months;

Acquired Assets not covered under FDIC loss share agreements using SOP accounting treatment (in accordance with ASC Topic 310-30); and

Acquired Assets not covered under FDIC loss share agreements not using SOP accounting treatment.

Between June 30, 2014 and September 30, 2014, legacy NPAs decreased $7 million, or 11%, due to $6 million in former bank branches and related land that were sold out of OREO during the third quarter of 2014. At September 30, 2014, those bank-related properties in OREO totaled $13 million, or 21% of total NPAs. Legacy NPAs equated to 0.46% of total assets at September 30, 2014, and 0.37% of total assets excluding bank-related properties. Loans past due 30 days or more (including non-accruing loans) increased $2 million, or 5%, and represented 0.55% of total loans at September 30, 2014, unchanged compared to June 30, 2014.

Table E - Legacy Asset Quality Summary

Excludes the impact of all Acquired Assets (FDIC-assisted acquisitions and other acquisitions, impaired and not impaired)


	For Quarter Ended:									% or Basis Point Change
($ thousands)	9/30/2013			6/30/2014			9/30/2014			Year/Year			Qtr/Qtr
Non-performing Assets	$	75,863		$	69,001		$	61,542			-19	%		-11	%
Note: NPAs excluding Former Bank Properties		65,345			50,415			48,808			-25	%		-3	%

Past Due Loans		57,662			48,189			50,505			-12	%		5	%
Classified Assets		78,059			67,796			67,462			-14	%		0	%

Non-performing Assets/Assets		0.66	%		0.53	%		0.46	%		(20	) bps		(7	) bps
NPAs/(Loans + OREO)		0.98	%		0.78	%		0.67	%		(31	) bps		(11	) bps
Classified Assets/Total Assets		0.66	%		0.52	%		0.50	%		(16	) bps		(2	) bps
(Past Dues & Non-accruals)/Loans		0.75	%		0.55	%		0.55	%		(20	) bps		0	bps

Provision For Loan Losses	$	2,868		$	3,004		$	4,022			4	0%		34	%
Net Charge-Offs/(Recoveries)		303			759			2,131			60	4%		181	%

Provision Less Net Charge-Offs	$	2,565		$	2,245		$	1,891			-2	6%		-16	%

Net Charge-Offs/Average Loans		0.02	%		0.04	%		0.09	%		7	bps		5	bps
Allowance For Loan Losses/Loans		0.83	%		0.80	%		0.79	%		(4	) bps		(1	) bps
Allowance for Credit Losses to Total Loans		0.99	%		0.93	%		0.92	%		(7	) bps		(1	) bps

Table F provides a breakdown of Acquired Assets under the other five categories pertaining to Acquired Assets and the asset quality performance measures associated with Acquired Assets in each category.

Table F – Acquired Assets By Portfolio Type ⁽¹⁾

All FDIC-assisted acquisitions and other acquired loans (impaired and not impaired)


	Acquired FDIC Covered Assets									Acquired Non-Covered Assets						Total Acquired Assets
($ thousands)	Non SFR (Losing Loss Share Coverage as of October 1, 2014)			Non SFR (Losing Loss Share Coverage within next 12 months)			SFR (Losing Loss Share Coverage 10 years from Acquisition)			SOP Assets ⁽²⁾			Non-SOP Assets⁽²⁾			Total Acquired Assets
Loans, net	$	44,880		$	219,930		$	259,379		$	431,244		$	943,824		$	1,899,257
Other Real Estate Owned		2,688			17,947			11,327			7,946			—			39,908
Allowance for Loan Losses		(8,661	)		(34,581	)		(15,855	)		(2,327	)		(579	)		(62,003	)

Non-accrual loans	$	15,291		$	46,554		$	51,937		$	43,389		$	449		$	157,620
Foreclosed assets		—			972			—			44			—			1,016
Other real estate owned		2,688			16,975			11,327			7,902			—			38,892
Accruing Loans More Than 90 Days Past Due		—			—			186			—			—			186

Non-performing Assets		17,979			64,501			63,450			51,335			449			197,714

Total Past Due Loans	$	15,334		$	48,647		$	54,484		$	46,228		$	4,455		$	169,148

Non-performing Assets to Total Loans and OREO		37.80	%		27.12	%		23.44	%		11.69	%		0.05	%		10.20	%
Past Due and Non-accrual Loans to Loans		34.17	%		22.12	%		21.01	%		10.72	%		0.47	%		8.91	%

Provision For Loan Losses	$	71		$	1,093		$	703		$	(436	)	$	261		$	1,692
Net Charge-Offs/(Recoveries)		—			(75	)		(0	)		15			135			76

Provision Less Net Charge-Offs	$	71		$	1,168		$	703		$	(451	)	$	125		$	1,616

Net Charge-Offs to Average Loans		0.00	%		-0.14	%		0.00	%		0.01	%		0.12	%		0.02	%
Allowance for Loan Losses to Loans		19.30	%		15.72	%		6.11	%		0.54	%		0.06	%		3.26	%
Allowance for Credit Losses to Total Loans		19.30	%		15.72	%		6.11	%		0.54	%		0.06	%		3.26	%

Indemnification asset collectible from the FDIC and OREO	$	—		$	2,936		$	13,803		$	—		$	—		$	16,739

⁽¹⁾	Amounts in this table are presented gross of discounts unless otherwise noted.

⁽²⁾

The classification of assets acquired from Teche and First Private as SOP or Non-SOP assets is preliminary and subject to change. At September, 30, 2014, Teche loans of $57.9 million and $588.4 million are included in SOP and Non-SOP assets, respectively. First Private loans of $279.8 million have been included as Non-SOP loans at September 30, 2014.

Capital Position

The Company maintains favorable capital strength. At September 30, 2014, the Company reported a tangible common equity ratio of 8.47%, up one basis point compared to June 30, 2014. At September 30, 2014, the Company’s preliminary Tier 1 leverage ratio was 9.22%, down 81 basis points compared to June 30, 2014 (the decline in the Tier 1 leverage capital ratio was due to the manner in which the leverage ratio is calculated using capital in the numerator at period-end and average total assets in the denominator.) The Company’s preliminary total risk-based capital ratio at September 30, 2014, was 12.42%, down one basis point compared to June 30, 2014.

Commencing in 2015, the Company will experience a 50% phase-out of Tier 1 capital treatment for its trust preferred securities with no commensurate change in total regulatory capital. In addition, by year-end 2014, the Company will experience the expiration of FDIC loss share protection on non-single family loans associated with three

FDIC-assisted transactions. The expiration of FDIC loss share coverage on those assets will result in increased risk weighting associated with those assets. The influence of the phase-out of Tier 1 treatment on trust preferred securities and the scheduled expiration of certain FDIC loss share coverage is estimated to reduce the Company’s Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk based capital ratio by approximately 36, 59, and 17 basis points, respectively, beginning in 2015.

On October 26, 2011, the Company announced a share repurchase program totaling 900,000 shares of common stock. No shares were repurchased under this program during the third quarter of 2014. A total of 46,692 shares remain under the currently authorized share repurchase program.

At September 30, 2014, book value per share was $54.35, up $0.49 per share compared to June 30, 2014. Tangible book value per share was $37.91, up $0.50 per share compared to June 30, 2014. Based on the closing stock price of the Company’s common stock of $63.59 per share on October 22, 2014, this price equated to 1.17 times September 30, 2014 book value and 1.68 times September 30, 2014 tangible book value per share.

On September 16, 2014, the Company declared a quarterly cash dividend of $0.34 per share. This dividend level equated to an annualized dividend rate of $1.36 per share and an indicated dividend yield of 2.14%.

IBERIABANK Corporation

The Company is a financial holding company with 278 combined offices, including 186 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 22 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 58 locations in 10 states. The Company has eight locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.

The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC.” The Company’s market capitalization was approximately $2.1 billion, based on the NASDAQ Global Select Market closing stock price on October 22, 2014.

The following 11 investment firms currently provide equity research coverage on the Company:

•

Bank of America Merrill Lynch

•

FIG Partners, LLC

•

Jefferies & Co., Inc.

•

Keefe, Bruyette & Woods, Inc.

•

Raymond James & Associates, Inc.

•

Robert W. Baird & Company

•

Sandler O’Neill + Partners, L.P.

•

Stephens, Inc.

•

Sterne, Agee & Leach

•

SunTrust Robinson-Humphrey

•

Wunderlich Securities

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 Thursday, October 23, 2014, beginning at 8:30 a.m. Central Time by dialing 1-800-230-1096. The confirmation code for the call is 338575. A replay of the call will be available until midnight Central Time on October 30, 2014 by dialing 1-800-475-6701. The confirmation code for the replay is 338575. The Company has prepared a PowerPoint presentation that supplements information contained in this press release. The PowerPoint presentation may be accessed on the Company’s web site, www.iberiabank.com, under “Investor Relations” and then “Presentations.”

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, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. 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. Reconciliations of GAAP to non-GAAP disclosures are included as tables at the end of this release. Refer to press release supplemental table for this reconciliation.

Assumptions Regarding Projected Earnings in Future Periods

The Company’s net interest margin and operating EPS guidance for full year 2014 were based on the following significant assumptions:

•

Recent forward interest rate curve projections;

•

No significant change in credit quality;

•

No significant changes to the preliminary purchase accounting marks assumed on the Company’s most recently completed acquisitions;

•

No significant cash flow or credit quality changes on Acquired Assets;

•

Achieving the $10.7 million in recently disclosed earnings enhancement initiatives; and

•

Mortgage and title insurance projections continue to reflect the current environment and expectations.

Caution About Forward-Looking Statements

This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, including statements related to the expected timing of the closing of the proposed merger, the expected returns and other benefits of the proposed merger to shareholders, expected improvement in operating efficiency resulting from the proposed merger, estimated expense reductions resulting from the transaction and the timing of achievement of such reductions, the impact on and timing of the recovery of the impact on tangible book value, and the effect of the merger on IBKC’s capital ratios. Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements, and there can be no assurances that: the proposed merger will close when expected, the expected returns and other benefits of the proposed merger to shareholders will be achieved, the expected operating efficiencies will result, estimated expense reductions resulting from the transaction will occur as and when expected, the impact on tangible book value will be recovered or as expected or that the effect on IBKC’s capital ratios will be as expected. Factors that could cause or contribute to such differences include, but are not limited to, the possibility that expected benefits may not materialize in the time frames expected or at all, or may be more costly to achieve; that the merger transaction may not be timely completed, if at all; that prior to completion of the merger transaction or thereafter, the parties’ respective businesses may not perform as expected

due to transaction-related uncertainties or other factors; that the parties are unable to implement successful integration strategies; that the required regulatory, shareholder, or other closing conditions are not satisfied in a timely manner, or at all; reputational risks and the reaction of the parties’ customers to the merger transaction; diversion of management time to merger-related issues; and other factors and risk influences contained in the cautionary language included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in IBKC’s Form 10-K for the fiscal year ended December 31, 2013, and Form 10-Qs for the quarters ended March 31, 2014, June 30, 2014, and other documents subsequently filed by IBKC with the SEC. Consequently, no forward-looking statement can be guaranteed. Neither IBKC nor Florida Bank Group undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For any forward-looking statements made in this press release or any related documents, IBKC and Florida Bank Group claim protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

This communication is being made in respect of the proposed merger transaction involving IBKC and Florida Bank Group. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger, IBKC will file with the SEC a registration statement on Form S-4 that will include a proxy statement/prospectus for the shareholders of Florida Bank Group. IBKC also plans to file other documents with the SEC regarding the proposed merger transaction with Florida Bank Group. Florida Bank Group will mail the final proxy statement/prospectus to its shareholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement/prospectus, as well as other filings containing information about IBKC and Florida Bank Group, will be available without charge, at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, when available, without charge, from IBKC’s website (http://www.iberiabank.com), under the heading “Investor Information” and on Florida Bank Group’s website, at (www.flbank.com).

IBKC and Florida Bank Group, and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Florida Bank Group in respect of the proposed merger transaction. Information regarding the directors and executive officers of IBKC is set forth in the definitive proxy statement for IBKC’s 2014 annual meeting of shareholders, as filed with the SEC on April 7, 2014, and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. Information regarding the directors and executive officers of Florida Bank Group who may be deemed participants in the solicitation of the shareholders of Florida Bank Group in connection with the proposed transaction will be included in the proxy statement/prospectus for Florida Bank Group’s special meeting of shareholders, which will be filed by IBKC with the SEC. Additional information regarding the interests of such participants will be included in the proxy statement/prospectus and other relevant documents regarding the proposed merger transaction filed with the SEC when they become available.

Table 1 - IBERIABANK CORPORATION

FINANCIAL HIGHLIGHTS


	For The Quarter Ended									For The Quarter Ended
	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Income Data (in thousands):
Net Interest Income	$	121,041		$	97,452			24	%	$	108,979			11	%
Net Interest Income (TE)⁽¹⁾		123,175			99,773			23	%		111,170			11	%
Net Income		29,744			23,192			28	%		18,548			60	%
Earnings Available to Common Shareholders - Basic		29,744			23,192			28	%		18,548			60	%
Earnings Available to Common Shareholders - Diluted		29,296			22,767			29	%		18,250			61	%

Per Share Data:
Earnings Available to Common Shareholders - Basic	$	0.89		$	0.78			14	%	$	0.60			48	%
Earnings Available to Common Shareholders - Diluted		0.89			0.78			14	%		0.60			48	%
Operating Earnings (Non-GAAP)		1.00			0.83			21	%		0.96			4	%
Book Value		54.35			51.30			6	%		53.86			1	%
Tangible Book Value ⁽²⁾		37.91			37.00			2	%		37.41			1	%
Cash Dividends		0.34			0.34			—			0.34			—
Closing Stock Price		62.51			53.61			17	%		69.19			(10	%)

Key Ratios: ⁽³⁾
Operating Ratios:
Return on Average Assets		0.76	%		0.71	%					0.53	%
Return on Average Common Equity		6.52	%		6.08	%					4.56	%
Return on Average Tangible Common Equity ⁽²⁾		9.68	%		8.74	%					6.62	%
Net Interest Margin (TE) ⁽¹⁾		3.47	%		3.37	%					3.48	%
Efficiency Ratio		72.0	%		76.9	%					81.2	%
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) ^{(1) (2)}		66.4	%		73.0	%					68.3	%
Full-time Equivalent Employees		2,703			2,559						2,760

Capital Ratios:
Tangible Common Equity Ratio (Non-GAAP)		8.47	%		8.64	%					8.46	%
Tangible Common Equity to Risk-Weighted Assets		10.34	%		10.93	%					10.33	%
Tier 1 Leverage Ratio		9.22	%		9.65	%					10.03	%
Tier 1 Capital Ratio		11.23	%		12.02	%					11.23	%
Total Risk Based Capital Ratio		12.42	%		13.28	%					12.43	%
Common Stock Dividend Payout Ratio		38.2	%		43.6	%					61.2	%

Asset Quality Ratios:
Excluding FDIC Covered Assets and Acquired Assets
Non-performing Assets to Total Assets ⁽⁴⁾		0.46	%		0.66	%					0.53	%
Allowance for Loan Losses to Loans		0.79	%		0.83	%					0.80	%
Net Charge-offs to Average Loans		0.09	%		0.02	%					0.04	%
Non-performing Assets to Total Loans and OREO ⁽⁴⁾		0.67	%		0.98	%					0.78	%


	For The Quarter Ended				For The Quarter Ended
	September 30,				June 30,		March 31,		December 31,
	2014		2014		2014		2014		2013
	End of Period		Average		Average		Average		Average
Balance Sheet Summary (in thousands):
Excess Liquidity ⁽⁵⁾	$	410,860	$	489,221	$	237,712	$	114,621	$	204,970
Total Investment Securities		2,224,348		2,168,345		2,120,988		2,116,166		2,131,804
Loans, Net of Unearned Income		11,079,199		11,008,163		10,003,753		9,551,351		9,172,490
Loans, Net of Unearned Income, Excluding Covered Assets and Acquired Assets		9,179,942		9,019,127		8,645,109		8,324,676		7,936,271
Total Assets		15,516,609		15,478,406		14,041,868		13,362,918		13,115,171
Total Deposits		12,377,775		12,223,027		11,071,698		10,816,122		10,835,263
Total Shareholders’ Equity		1,817,548		1,808,719		1,632,355		1,557,006		1,535,043

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

⁽⁴⁾	Nonperforming assets consist of nonaccruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.

⁽⁵⁾	Excess Liquidity includes interest-bearing deposits in banks and fed funds sold, but excludes liquidity sources and uses from off-balance sheet arrangements.

N/M - Comparison of the information presented is not meaningful given the periods presented.

Table 2 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


BALANCE SHEET (End of Period)	September 30,									June 30,
	2014			2013			% Change			2014			% Change
ASSETS
Cash and Due From Banks	$	257,147		$	260,742			(1.4	%)	$	286,615			(10.3	%)
Interest-bearing Deposits in Banks		410,860			292,706			40.4	%		381,955			7.6	%

Total Cash and Equivalents		668,007			553,448			20.7	%		668,570			(0.1	%)
Investment Securities Available for Sale		2,103,828			1,964,389			7.1	%		2,008,953			4.7	%
Investment Securities Held to Maturity		120,520			155,678			(22.6	%)		132,245			(8.9	%)

Total Investment Securities		2,224,348			2,120,067			4.9	%		2,141,198			3.9	%
Mortgage Loans Held for Sale		148,530			108,285			37.2	%		178,380			(16.7	%)
Loans, Net of Unearned Income		11,079,199			9,043,037			22.5	%		10,898,420			1.7	%
Allowance for Loan Losses		(134,540	)		(148,545	)		(9.4	%)		(133,519	)		0.8	%

Loans, Net		10,944,659			8,894,492			23.0	%		10,764,901			1.7	%
Loss Share Receivable		94,712			204,885			(53.8	%)		120,532			(21.4	%)
Premises and Equipment		307,868			289,157			6.5	%		307,090			0.3	%
Goodwill and Other Intangibles		551,611			426,384			29.4	%		550,874			0.1	%
Other Assets		576,874			548,359			5.2	%		593,496			(2.8	%)

Total Assets	$	15,516,609		$	13,145,077			18.0	%	$	15,325,041			1.3	%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	3,157,453		$	2,529,296			24.8	%	$	3,047,349			3.6	%
NOW Accounts		2,194,803			2,136,624			2.7	%		2,233,993			(1.8	%)
Savings and Money Market Accounts		4,921,510			4,420,776			11.3	%		4,685,367			5.0	%
Certificates of Deposit		2,104,009			1,864,068			12.9	%		2,014,438			4.4	%

Total Deposits		12,377,775			10,950,764			13.0	%		11,981,147			3.3	%
Short-term Borrowings		553,000			—			100.0	%		738,000			(25.1	%)
Securities Sold Under Agreements to Repurchase		259,783			258,850			0.4	%		296,741			(12.5	%)
Trust Preferred Securities		111,862			111,862			—			111,862			—
Other Long-term Debt		243,707			169,239			44.0	%		253,885			(4.0	%)
Other Liabilities		152,934			129,094			18.5	%		144,100			6.1	%

Total Liabilities		13,699,061			11,619,809			17.9	%		13,525,735			1.3	%
Total Shareholders’ Equity		1,817,548			1,525,268			19.2	%		1,799,306			1.0	%

Total Liabilities and Shareholders’ Equity	$	15,516,609		$	13,145,077			18.0	%	$	15,325,041			1.3	%


BALANCE SHEET (Average)	September 30,			June 30,			March 31,			December 31,			September 30,
	2014			2014			2014			2013			2013
ASSETS
Cash and Due From Banks	$	229,556		$	237,631		$	234,924		$	225,527		$	219,113
Interest-bearing Deposits in Banks		489,221			237,712			114,621			204,970			213,092
Investment Securities		2,168,345			2,120,988			2,116,166			2,131,804			2,096,974
Mortgage Loans Held for Sale		165,791			140,122			96,019			112,499			119,343
Loans, Net of Unearned Income		11,008,163			10,003,753			9,551,351			9,172,490			8,975,347
Allowance for Loan Losses		(133,443	)		(132,049	)		(139,726	)		(148,030	)		(160,994	)
Loss Share Receivable		111,383			131,375			154,634			188,932			228,047
Other Assets		1,439,390			1,302,336			1,234,930			1,226,979			1,253,513

Total Assets	$	15,478,406		$	14,041,868		$	13,362,918		$	13,115,171		$	12,944,435


LIABILITIES AND SHAREHOLDERS’ EQUITY
Non-interest-bearing Deposits	$	3,057,513		$	2,748,468		$	2,623,075		$	2,572,599		$	2,338,772
NOW Accounts		2,228,378			2,229,264			2,230,745			2,145,036			2,257,050
Savings and Money Market Accounts		4,877,051			4,372,855			4,296,360			4,329,985			4,213,765
Certificates of Deposit		2,060,085			1,721,111			1,665,943			1,787,643			1,918,669

Total Deposits		12,223,027			11,071,698			10,816,122			10,835,263			10,728,256
Short-term Borrowings		627,192			632,778			285,383			49,946			1,630
Securities Sold Under Agreements to Repurchase		292,677			274,681			299,106			285,745			288,029
Trust Preferred Securities		111,862			111,862			111,862			111,862			111,862
Long-term Debt		247,108			192,845			168,367			169,063			170,452
Other Liabilities		167,821			125,649			125,072			128,249			130,052

Total Liabilities		13,669,687			12,409,513			11,805,912			11,580,128			11,430,280
Total Shareholders’ Equity		1,808,719			1,632,355			1,557,006			1,535,043			1,514,155

Total Liabilities and Shareholders’ Equity	$	15,478,406		$	14,041,868		$	13,362,918		$	13,115,171		$	12,944,435

Table 3 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)


	For The Three Months Ended
INCOME STATEMENT	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Interest Income	$	133,167		$	108,512			22.7	%	$	119,220			11.7	%
Interest Expense		12,126			11,060			9.6	%		10,241			18.4	%

Net Interest Income		121,041			97,452			24.2	%		108,979			11.1	%
Provision for Loan Losses		5,714			2,014			183.7	%		4,748			20.3	%

Net Interest Income After Provision for Loan Losses		115,327			95,438			20.8	%		104,231			10.6	%
Service Charges		10,205			7,512			35.8	%		8,203			24.4	%
ATM / Debit Card Fee Income		3,287			2,476			32.8	%		2,937			11.9	%
BOLI Proceeds and Cash Surrender Value Income		1,047			908			15.3	%		935			11.9	%
Mortgage Income		12,814			15,202			(15.7	%)		17,957			(28.6	%)
Gain (Loss) on Sale of Investments, Net		582			13			4343.2	%		8			6797.3	%
Title Revenue		5,577			5,482			1.7	%		5,262			6.0	%
Broker Commissions		5,297			3,950			34.1	%		5,479			(3.3	%)
Other Non-interest Income		6,854			7,720			(11.2	%)		7,182			(4.6	%)

Total Non-interest Income		45,663			43,263			5.5	%		47,963			(4.8	%)
Salaries and Employee Benefits		64,934			59,234			9.6	%		68,846			(5.7	%)
Occupancy and Equipment		14,883			14,572			2.1	%		16,104			(7.6	%)
Amortization of Acquisition Intangibles		1,493			1,179			26.6	%		1,244			20.1	%
Other Non-interest Expense		38,750			33,166			16.8	%		41,181			(5.9	%)

Total Non-interest Expense		120,060			108,152			11.0	%		127,375			(5.7	%)
Income Before Income Taxes		40,930			30,549			34.0	%		24,819			64.9	%
Income Tax Expense		11,186			7,357			52.0	%		6,271			78.4	%

Net Income	$	29,744		$	23,192			28.3	%	$	18,548			60.4	%

Preferred Stock Dividends		—			—			—			—			—

Earnings Available to Common Shareholders - Basic		29,744			23,192			28.3	%		18,548			60.4	%

Earnings Allocated to Unvested Restricted Stock		(448	)		(425	)		5.6	%		(298	)		50.3	%

Earnings Available to Common Shareholders - Diluted	$	29,296		$	22,767			28.7	%	$	18,250			60.5	%

Earnings Per Share, Diluted	$	0.89		$	0.78			13.8	%	$	0.60			48.0	%

Impact of Non-Operating Items (Non-GAAP)	$	0.11		$	0.05			131.3	%	$	0.36			(68.4	%)

Earnings Per Share, Diluted, Excluding Non-operating Items (Non-GAAP)	$	1.00		$	0.83			20.8	%	$	0.96			4.2	%

NUMBER OF SHARES OUTSTANDING
Basic Shares - All Classes (Average)		33,309,881			29,631,799			12.4	%		30,787,520			8.2	%
Diluted Shares - Common Shareholders (Average)		32,926,969			29,147,232			13.0	%		30,386,105			8.4	%
Book Value Shares (Period End) ⁽¹⁾		33,440,859			29,734,459			12.5	%		33,410,082			0.1	%

	2014									2013
INCOME STATEMENT	Third			Second			First			Fourth			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
Interest Income	$	133,167		$	119,220		$	114,232		$	114,092		$	108,512
Interest Expense		12,126			10,241			9,824			10,654			11,060

Net Interest Income		121,041			108,979			104,408			103,438			97,452
Provision for Loan Losses		5,714			4,748			2,103			4,700			2,014

Net Interest Income After Provision for Loan Losses		115,327			104,231			102,305			98,738			95,438
Total Non-interest Income		45,663			47,963			35,681			38,715			43,263
Total Non-interest Expense		120,060			127,375			107,428			102,674			108,152

Income Before Income Taxes		40,930			24,819			30,558			34,779			30,549
Income Tax Expense		11,186			6,271			8,163			9,175			7,357

Net Income	$	29,744		$	18,548		$	22,395		$	25,604		$	23,192

Preferred Stock Dividends		—			—			—			—			—

Earnings Available to Common Shareholders - Basic		29,744			18,548			22,395			25,604			23,192

Earnings Allocated to Unvested Restricted Stock		(448	)		(298	)		(405	)		(456	)		(425	)

Earnings Available to Common Shareholders - Diluted	$	29,296		$	18,250		$	21,990		$	25,148		$	22,767

Earnings Per Share, Basic	$	0.89		$	0.60		$	0.75		$	0.86		$	0.78

Earnings Per Share, Diluted	$	0.89		$	0.60		$	0.75		$	0.86		$	0.78

Book Value Per Common Share	$	54.35		$	53.86		$	52.04		$	51.40		$	51.30
Tangible Book Value Per Common Share	$	37.91		$	37.41		$	37.59		$	37.17		$	37.00

Return on Average Assets		0.76	%		0.53	%		0.68	%		0.77	%		0.71	%
Return on Average Common Equity		6.52	%		4.56	%		5.83	%		6.62	%		6.08	%
Return on Average Tangible Common Equity		9.68	%		6.62	%		8.36	%		9.43	%		8.74	%

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

Table 4 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)


	For The Nine Months Ended
INCOME STATEMENT	September 30,
	2014			2013			% Change
Interest Income	$	366,619		$	323,105			13.5	%
Interest Expense		32,192			36,299			(11.3	%)

Net Interest Income		334,427			286,806			16.6	%
Provision for Loan Losses		12,565			445			N/M

Net Interest Income After Provision for Loan Losses		321,862			286,361			12.4	%
Service Charges		25,421			21,415			18.7	%
ATM / Debit Card Fee Income		8,691			7,017			23.9	%
BOLI Proceeds and Cash Surrender Value Income		4,423			2,747			61.0	%
Mortgage Income		40,903			51,841			(21.1	%)
Gain on Sale of Investments, net		609			2,315			(73.7	%)
Title Revenue		15,007			16,199			(7.4	%)
Broker Commissions		14,823			11,347			30.6	%
Other Non-interest Income		19,430			17,361			11.9	%

Total Non-interest Income		129,307			130,242			(0.7	%)
Salaries and Employee Benefits		193,641			185,578			4.3	%
Occupancy and Equipment		44,977			44,050			2.1	%
Amortization of Acquisition Intangibles		3,955			3,543			11.6	%
Other Non-interest Expense		112,290			137,239			(18.2	%)

Total Non-interest Expense		354,863			370,410			(4.2	%)
Income Before Income Taxes		96,306			46,193			108.5	%
Income Tax Expense		25,619			6,694			(282.7	%)

Net Income	$	70,687		$	39,499			79.0	%

Preferred Stock Dividends		—			—			—

Earnings Available to Common Shareholders - Basic	$	70,687		$	39,499			79.0	%

Earnings Allocated to Unvested Restricted Stock		(1,159	)		(744	)		55.7	%

Earnings Available to Common Shareholders - Diluted		69,528			38,755			79.4	%

Earnings Per Share, diluted	$	2.25		$	1.33			68.6	%

Table 5 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


LOANS	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Residential Mortgage Loans	$	1,069,963		$	563,455			89.9	%	$	1,065,873			0.4	%
Commercial Loans:
Real Estate		4,279,575			3,779,839			13.2	%		4,271,669			0.2	%
Business		3,227,332			2,684,244			20.2	%		3,108,649			3.8	%

Total Commercial Loans		7,506,907			6,464,083			16.1	%		7,380,318			1.7	%
Consumer Loans:
Indirect Automobile		394,691			369,755			6.7	%		392,355			0.6	%
Home Equity		1,565,878			1,281,014			22.2	%		1,525,758			2.6	%
Automobile		140,287			87,342			60.6	%		125,202			12.0	%
Credit Card Loans		69,352			60,637			14.4	%		65,892			5.3	%
Other		332,121			216,751			53.2	%		343,023			(3.2	%)

Total Consumer Loans		2,502,329			2,015,499			24.2	%		2,452,230			2.0	%

Total Loans		11,079,199			9,043,037			22.5	%		10,898,421			1.7	%

Allowance for Loan Losses		(134,540	)		(148,545	)					(133,519	)

Loans, Net	$	10,944,659		$	8,894,492					$	10,764,902

Reserve for Unfunded Commitments		(12,099	)		(11,959	)		1.2	%		(11,260	)		7.4	%
Allowance for Credit Losses		(146,639	)		(160,503	)		(8.6	%)		(144,778	)		1.3	%

ASSET QUALITY DATA ⁽¹⁾	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Non-accrual Loans	$	195,680		$	341,691			(42.7	%)	$	208,673			(6.2	%)
Foreclosed Assets		1,035			1,592			(35.0	%)		1,186			(12.8	%)
Other Real Estate Owned		62,351			127,395			(51.1	%)		83,293			(25.1	%)
Accruing Loans More Than 90 Days Past Due		190			10,844			(98.2	%)		1,095			(82.6	%)

Total Non-performing Assets	$	259,256		$	481,522			(46.2	%)	$	294,247			(11.9	%)

Loans 30-89 Days Past Due	$	23,784		$	26,445			(10.1	%)	$	31,875			(25.4	%)

Non-performing Assets to Total Assets		1.67	%		3.66	%		(54.4	%)		1.92	%		(13.1	%)
Non-performing Assets to Total Loans and OREO		2.32	%		5.25	%		(55.7	%)		2.68	%		(13.2	%)
Allowance for Loan Losses to Non-performing Loans ⁽²⁾		68.8	%		42.1	%		63.2	%		63.7	%		8.0	%
Allowance for Loan Losses to Non-performing Assets		51.9	%		30.8	%		68.4	%		45.4	%		14.5	%
Allowance for Loan Losses to Total Loans		1.21	%		1.64	%		(26.1	%)		1.23	%		(0.9	%)
Allowance for Credit Losses to Non-performing Loans ⁽²⁾		74.9	%		45.5	%		64.4	%		69.0	%		8.5	%
Allowance for Credit Losses to Non-performing Assets		56.6	%		33.3	%		69.7	%		49.2	%		15.0	%
Allowance for Credit Losses to Total Loans		1.32	%		1.77	%		(25.4	%)		1.33	%		(0.4	%)

Year to Date Charge-offs	$	8,571		$	6,938			23.5	%	$	5,311			N/M
Year to Date Recoveries		(4,739	)		(4,353	)		8.9	%		(3,686	)		N/M

Year to Date Net Charge-offs	$	3,832		$	2,585			48.3	%	$	1,625			N/M

Quarter to Date Net Charge-offs	$	2,207		$	239			825.0	%	$	857			157.6	%

Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.08	%		0.01	%		654.1	%		0.03	%		131.5	%
Year to Date Net Charge-offs to Average Loans		0.05	%		0.04	%		27.4	%		0.03	%		50.0	%

⁽¹⁾	For purposes of this table, non-performing assets include all loans meeting non-performing asset criteria, including assets acquired in FDIC-assisted transactions.

⁽²⁾	Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.

N/M - Comparison of the information presented is not meaningful given the periods presented.

Table 6 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


LOANS (Excluding Covered Assets and Acquired Assets)⁽¹⁾	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Residential Mortgage Loans	$	497,075		$	389,912			27.5	%	$	457,991			8.5	%
Commercial Loans:
Real Estate		3,527,612			2,951,465			19.5	%		3,427,165			2.9	%
Business		3,093,873			2,589,405			19.5	%		2,960,146			4.5	%

Total Commercial Loans		6,621,485			5,540,870			19.5	%		6,387,311			3.7	%
Consumer Loans:
Indirect Automobile		394,078			367,308			7.3	%		391,481			0.7	%
Home Equity		1,229,998			1,072,671			14.7	%		1,172,748			4.9	%
Automobile		123,446			86,680			42.4	%		106,875			15.5	%
Credit Card Loans		68,731			59,936			14.7	%		65,260			5.3	%
Other		245,129			202,196			21.2	%		250,281			(2.1	%)

Total Consumer Loans		2,061,382			1,788,791			15.2	%		1,986,645			3.8	%

Total Loans		9,179,942			7,719,573			18.9	%		8,831,947			3.9	%

Allowance for Loan Losses		(72,537	)		(64,165	)					(70,647	)

Loans, Net	$	9,107,405		$	7,655,408					$	8,761,298

Reserve for Unfunded Commitments		(12,099	)		(11,959	)		1.2	%		(11,260	)		7.4	%
Allowance for Credit Losses		(84,636	)		(76,124	)		11.2	%		(81,907	)		3.3	%

ASSET QUALITY DATA (Excluding Covered Assets and Acquired Assets)⁽¹⁾	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Non-accrual Loans	$	38,060		$	43,838			(13.2	%)	$	34,187			11.3	%
Foreclosed Assets		19			42			(55.3	%)		113			(83.6	%)
Other Real Estate Owned		23,459			30,565			(23.2	%)		34,681			(32.4	%)
Accruing Loans More Than 90 Days Past Due		4			1,418			(99.7	%)		20			(77.8	%)

Total Non-performing Assets	$	61,542		$	75,863			(18.9	%)	$	69,001			(10.8	%)

Loans 30-89 Days Past Due	$	12,441		$	12,406			0.3	%	$	13,982			(11.0	%)
Troubled Debt Restructurings ⁽²⁾		3,421			19,941			(82.8	%)		5,413			(36.8	%)
Current Troubled Debt Restructurings ⁽³⁾		1,093			1,468			(25.5	%)		1,189			(8.0	%)

Non-performing Assets to Total Assets		0.46	%		0.66	%		(30.7	%)		0.53	%		(13.3	%)
Non-performing Assets to Total Loans and OREO		0.67	%		0.98	%		(31.7	%)		0.78	%		(14.1	%)
Allowance for Loan Losses to Non-performing Loans ⁽⁴⁾		190.6	%		141.8	%		34.4	%		206.5	%		(7.7	%)
Allowance for Loan Losses to Non-performing Assets		117.9	%		84.6	%		39.4	%		102.4	%		15.1	%
Allowance for Loan Losses to Total Loans		0.79	%		0.83	%		(4.9	%)		0.80	%		(1.2	%)
Allowance for Credit Losses to Non-performing Loans ^{(1) (4)}		222.3	%		168.2	%		32.2	%		239.4	%		(7.1	%)
Allowance for Credit Losses to Non-performing Assets ⁽¹⁾		137.5	%		100.3	%		37.1	%		118.7	%		15.9	%
Allowance for Credit Losses to Total Loans ⁽¹⁾		0.92	%		0.99	%		(6.5	%)		0.93	%		(0.6	%)

Year to Date Charge-offs	$	8,242		$	6,785			21.5	%	$	5,198			N/M
Year to Date Recoveries		(4,338	)		(4,283	)		1.3	%		(3,425	)		N/M

Year to Date Net Charge-offs (Recoveries)	$	3,904		$	2,502			56.0	%	$	1,773			N/M

Quarter to Date Net Charge-offs (Recoveries)	$	2,131		$	303			N/M		$	759			180.8	%

Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.09	%		0.02	%		N/M			0.04	%		144.4	%
Year to Date Net Charge-offs to Average Loans		0.06	%		0.05	%		30.9	%		0.04	%		40.3	%

⁽¹⁾	For purposes of this table, loans and non-performing assets exclude all assets acquired.

⁽²⁾	Troubled debt restructurings meeting past due and non-accruing criteria are included in loans past due and non-accrual loans above.

⁽³⁾	Current troubled debt restructurings are defined as troubled debt restructurings not past due or on non-accrual status for the respective periods.

⁽⁴⁾	Non-performing loans consist of nonaccruing loans and accruing loans 90 days or more past due.

N/M - Comparison of the information presented is not meaningful given the periods presented.

Table 6A - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


LOANS (Covered Assets and Acquired Assets Only)⁽¹⁾	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Residential Mortgage Loans	$	572,888		$	173,543			230.1	%	$	607,882			(5.8	%)
Commercial Loans:
Real Estate		751,963			828,374			(9.2	%)		844,504			(11.0	%)
Business		133,459			94,839			40.7	%		148,503			(10.1	%)

Total Commercial Loans		885,422			923,213			(4.1	%)		993,007			(10.8	%)
Consumer Loans:
Indirect Automobile		613			2,447			(74.9	%)		874			(29.9	%)
Home Equity		335,880			208,343			61.2	%		353,010			(4.9	%)
Automobile		16,841			662			2443.5	%		18,327			(8.1	%)
Credit Card Loans		621			701			(11.5	%)		632			(1.8	%)
Other		86,992			14,555			497.7	%		92,742			(6.2	%)

Total Consumer Loans		440,947			226,708			94.5	%		465,585			(5.3	%)

Total Loans Receivable		1,899,257			1,323,464			43.5	%		2,066,474			(8.1	%)

Allowance for Loan Losses		(62,003	)		(84,380	)					(62,872	)

Loans, Net	$	1,837,254		$	1,239,084					$	2,003,602


ASSET QUALITY DATA (Covered Assets and Acquired Assets Only) ⁽¹⁾	September 30,									June 30,
	2014			2013			% Change			2014			% Change
Non-accrual Loans	$	157,620		$	297,853			(47.1	%)	$	174,486			(9.7	%)
Foreclosed Assets		1,016			1,550			(34.4	%)		1,073			(5.3	%)
Other Real Estate Owned		38,892			96,830			(59.8	%)		48,612			(20.0	%)
Accruing Loans More Than 90 Days Past Due		186			9,426			(98.0	%)		1,075			(82.7	%)

Total Non-performing Assets	$	197,714		$	405,659			(51.3	%)	$	225,246			(12.2	%)

Loans 30-89 Days Past Due	$	11,343		$	14,039			(19.2	%)	$	17,893			(36.6	%)

Non-performing Assets to Total Assets		9.84	%		25.19	%		(60.9	%)		10.23	%		(3.8	%)
Non-performing Assets to Total Loans and OREO		10.20	%		28.53	%		(64.3	%)		10.64	%		(4.2	%)
Allowance for Loan Losses to Non-performing Loans ⁽²⁾		39.3	%		27.5	%		43.1	%		35.8	%		9.7	%
Allowance for Loan Losses to Non-performing Assets		31.4	%		20.8	%		50.8	%		27.9	%		12.4	%
Allowance for Loan Losses to Total Loans		3.26	%		6.38	%		(48.8	%)		3.04	%		7.3	%

Year to Date Charge-offs	$	329		$	153			114.9	%	$	113			N/M
Year to Date Recoveries		(401	)		(70	)		474.6	%		(261	)		N/M

Year to Date Net Charge-offs (Recoveries)		(72	)		83			(187.2	%)		(148	)		N/M

Quarter to Date Net Charge-offs (Recoveries)		76			(64	)		218.6	%		98			(22.8	%)

Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.02	%		-0.02	%		188.6	%		0.03	%		(47.9	%)
Year to Date Net Charge-offs to Average Loans		-0.01	%		0.01	%		(184.9	%)		-0.02	%		(72.6	%)

⁽¹⁾	For purposes of this table, acquired loans and non-performing assets are presented only. Non-performing assets include all loans meeting nonperforming asset criteria.

⁽²⁾	Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.

N/M - Comparison of the information presented is not meaningful given the periods presented

Table 7 - Non-Covered and Net Covered Loan Portfolio Volumes And Yields ($ in Millions)


	3Q 2013					4Q 2013					1Q 2014					2Q 2014					3Q 2014
	Average Balance		Yield			Average Balance		Yield			Average Balance		Yield			Average Balance		Yield			Average Balance		Yield
Non Covered Loans, net	$	8,104		4.39	%	$	8,421		4.43	%	$	8,860		4.38	%	$	9,379		4.30	%	$	10,450		4.37	%

Covered Loans, net	$	872		13.90	%	$	751		19.46	%	$	691		15.00	%	$	625		14.70	%	$	559		21.64	%

FDIC Indemnification Asset		228		-39.25	%		189		-60.36	%		155		-49.83	%		131		-51.22	%		111		-88.25	%

Covered Loans, net of Indemnification Asset Amortization	$	1,100		2.88	%	$	940		3.43	%	$	846		3.18	%	$	756		3.16	%	$	670		3.07	%

Table 8 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)


	For The Quarter Ended
	September 30, 2014									June 30, 2014						September 30, 2013
	Interest			Average Balance			Average Yield/Rate (%)			Average Balance			Average Yield/Rate (%)			Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	14,375		$	1,110,718			5.18	%	$	702,475			5.29	%	$	545,017			5.05	%
Commercial Loans (TE) ⁽¹⁾		97,321			7,468,004			5.17	%		7,113,450			4.84	%		6,443,410			5.49	%
Consumer and Other Loans		33,150			2,429,441			5.41	%		2,187,828			5.17	%		1,986,920			4.84	%

Total Loans		144,846			11,008,163			5.22	%		10,003,753			4.94	%		8,975,347			5.32	%
Loss Share Receivable		(25,120	)		111,383			-88.25	%		131,375			-51.22	%		228,047			-39.25	%

Total Loans and Loss Share Receivable		119,726			11,119,546			4.29	%		10,135,128			4.22	%		9,203,394			4.21	%
Mortgage Loans Held for Sale		1,594			165,791			3.84	%		140,122			4.21	%		119,343			4.32	%
Investment Securities (TE) ⁽¹⁾⁽²⁾		10,994			2,137,736			2.20	%		2,109,255			2.24	%		2,093,549			1.98	%
Other Earning Assets		853			567,895			0.60	%		308,712			0.82	%		258,362			0.89	%

Total Earning Assets		133,167			13,990,968			3.81	%		12,693,217			3.80	%		11,674,648			3.74	%
Allowance for Loan Losses					(133,443	)					(132,049	)					(160,994	)
Non-earning Assets					1,620,881						1,480,700						1,430,781

Total Assets				$	15,478,406					$	14,041,868					$	12,944,435

LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	1,546		$	2,228,378			0.28	%	$	2,229,264			0.25	%	$	2,257,050			0.34	%
Savings and Money Market Accounts		3,588			4,877,051			0.29	%		4,372,855			0.26	%		4,213,764			0.25	%
Certificates of Deposit		4,067			2,060,085			0.78	%		1,721,111			0.72	%		1,918,669			0.83	%

Total Interest-bearing Deposits		9,201			9,165,514			0.40	%		8,323,230			0.35	%		8,389,483			0.40	%
Short-term Borrowings		406			919,869			0.17	%		907,459			0.16	%		289,659			0.14	%
Long-term Debt		2,519			358,970			2.75	%		304,707			3.34	%		282,314			3.37	%

Total Interest-bearing Liabilities		12,126			10,444,353			0.46	%		9,535,396			0.43	%		8,961,456			0.49	%
Non-interest-bearing Demand Deposits					3,057,513						2,748,468						2,338,772
Non-interest-bearing Liabilities					167,821						125,649						130,052

Total Liabilities					13,669,687						12,409,513						11,430,280
Shareholders’ Equity					1,808,719						1,632,355						1,514,155

Total Liabilities and Shareholders’ Equity				$	15,478,406					$	14,041,868					$	12,944,435

Net Interest Spread				$	121,041			3.36	%	$	108,979			3.38	%	$	97,452			3.25	%
Tax-equivalent Benefit					2,134			0.06	%		2,191			0.07	%		2,321			0.08	%
Net Interest Income (TE) / Net Interest Margin (TE) ⁽¹⁾				$	123,175			3.47	%	$	111,170			3.48	%	$	99,773			3.37	%

⁽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.

Table 9 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)


	For The Nine Months Ended
	September 30, 2014									September 30, 2013
	Interest			Average Balance			Average Yield/Rate (%)			Interest			Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	32,438		$	804,710			5.37	%	$	21,868		$	504,154			5.78	%
Commercial Loans (TE) ⁽¹⁾		268,866			7,159,481			5.03	%		258,420			6,324,468			5.48	%
Consumer and Other Loans		87,820			2,228,904			5.27	%		78,056			1,928,747			5.41	%

Total Loans		389,124			10,193,095			5.11	%		358,344			8,757,369			5.48	%
Loss Share Receivable		(61,393	)		132,306			-61.19	%		(68,707	)		293,116			-30.91	%

Total Loans and Loss Share Receivable		327,731			10,325,401			4.26	%		289,637			9,050,485			4.30	%
Mortgage Loans Held for Sale		3,953			134,232			3.93	%		3,965			155,900			3.39	%
Investment Securities (TE) ⁽¹⁾⁽²⁾		32,911			2,120,226			2.22	%		27,323			2,065,295			1.94	%
Other Earning Assets		2,024			351,232			0.77	%		2,180			423,775			0.69	%

Total Earning Assets		366,619			12,931,091			3.83	%		323,105			11,695,456			3.74	%
Allowance for Loan Losses					(135,050	)								(196,412	)
Non-earning Assets					1,506,110									1,467,475

Total Assets				$	14,302,151								$	12,966,519

LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	4,480		$	2,229,454			0.27	%	$	5,836		$	2,402,803			0.32	%
Savings and Money Market Accounts		9,108			4,517,549			0.27	%		8,864			4,166,013			0.28	%
Certificates of Deposit		10,093			1,817,156			0.74	%		13,038			2,024,369			0.86	%

Total Interest-bearing Deposits		23,681			8,564,159			0.37	%		27,738			8,593,185			0.43	%
Short-term Borrowings		1,022			805,167			0.17	%		365			292,453			0.16	%
Long-term Debt		7,489			314,924			3.14	%		8,196			328,856			3.29	%

Total Interest-bearing Liabilities		32,192			9,684,250			0.44	%		36,299			9,214,494			0.52	%
Non-interest-bearing Demand Deposits					2,811,276									2,097,110
Non-interest-bearing Liabilities					139,669									130,368

Total Liabilities					12,635,195									11,441,972
Shareholders’ Equity					1,666,956									1,524,547

Total Liabilities and Shareholders’ Equity				$	14,302,151								$	12,966,519

Net Interest Spread				$	334,427			3.38	%				$	286,806			3.22	%
Tax-equivalent Benefit					6,554			0.07	%					7,182			0.08	%
Net Interest Income (TE) / Net Interest Margin (TE) ⁽¹⁾				$	340,981			3.49	%				$	293,988			3.33	%

⁽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.

Table 10 - IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(dollars in thousands)


	For The Quarter Ended
	September 30, 2014			June 30, 2014			September 30, 2013
Net Interest Income (GAAP)	$	121,041		$	108,979		$	97,452
Effect of Tax Benefit on Interest Income		2,134			2,191			2,321

Net Interest Income (TE) (Non-GAAP) ⁽¹⁾		123,175			111,170			99,773

Non-interest Income (GAAP)		45,663			47,963			43,263
Effect of Tax Benefit on Non-interest Income		564			503			489

Non-interest Income (TE) (Non-GAAP) ⁽¹⁾		46,227			48,466			43,752

Taxable Equivalent Revenues (Non-GAAP) ⁽¹⁾		169,402			159,636			143,525

Securities Gains and other non-interest income		(582	)		(9	)		(13	)

Taxable Equivalent Operating Revenues (Non-GAAP) ⁽¹⁾	$	168,820		$	159,626		$	143,512

Total Non-interest Expense (GAAP)	$	120,060		$	127,375		$	108,152
Less Intangible Amortization Expense		(1,493	)		(1,244	)		(1,179	)

Tangible Non-interest Expense (Non-GAAP) ⁽²⁾		118,567			126,131			106,973

Merger-related expenses		1,752			10,419			85
Severance expenses		1,226			5,466			554
(Gain) Loss on sale of long-lived assets, net of impairment		4,213			1,241			977
(Reversal of) Provision for FDIC clawback liability		(797	)		—			667
Other non-operating non-interest expense		1			18			(36	)

Tangible Operating Non-interest Expense (Non-GAAP) ⁽²⁾	$	112,172		$	108,987		$	104,725

Return on Average Common Equity (GAAP)		6.52	%		4.56	%		6.08	%
Effect of Intangibles ⁽²⁾		3.16	%		2.06	%		2.66	%
Effect of Non Operating Revenues and Expenses		1.19	%		3.82	%		0.52	%

Operating Return on Average Tangible Common Equity (Non-GAAP) ⁽²⁾		10.87	%		10.44	%		9.26	%

Efficiency Ratio (GAAP)		72.0	%		81.2	%		76.9	%
Effect of Tax Benefit Related to Tax-exempt Income		(1.1	%)		(1.4	%)		(1.5	%)

Efficiency Ratio (TE) (Non-GAAP) ⁽¹⁾		70.9	%		79.8	%		75.4	%
Effect of Amortization of Intangibles		(0.9	%)		(0.8	%)		(0.9	%)
Effect of Non-operating Items		(3.5	%)		(10.7	%)		(1.5	%)

Tangible Operating Efficiency Ratio (TE)(Non-GAAP) ^{(1) (2)}		66.4	%		68.3	%		73.0	%

⁽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.

Table 11 - IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES⁽¹⁾

(dollars in thousands)


	For The Quarter Ended
	September 30, 2014									June 30, 2014									September 30, 2013
	Dollar Amount									Dollar Amount									Dollar Amount
	Pre-tax			After-tax ⁽²⁾			Per share			Pre-tax			After-tax ⁽²⁾			Per share			Pre-tax			After-tax ⁽²⁾			Per share
Net Income (Loss) (GAAP)	$	40,930		$	29,744		$	0.89		$	24,819		$	18,548		$	0.60		$	30,549		$	23,192		$	0.78

Non-interest income adjustments
Gain on sale of investments and other non-interest income		(582	)		(378	)		(0.01	)		(9	)		(6	)		(0.00	)		(13	)		(8	)		(0.00	)
Non-interest expense adjustments
Merger-related expenses		1,752			1,139			0.04			10,419			6,840			0.22			85			55			0.00
Severance expenses		1,226			797			0.02			5,466			3,553			0.11			554			360			0.01
(Gain) Loss on sale of long-lived assets, net of impairment		4,213			2,738			0.08			1,241			807			0.03			977			635			0.02
(Reversal of) Provision for FDIC clawback liability		(797	)		(518	)		(0.02	)		—			—			—			667			434			0.01
Other non-operating non-interest expense		1			1			(0.00	)		18			12			0.00			(36	)		(23	)		(0.00	)

Operating earnings (Non-GAAP)		46,743			33,523			1.00			41,954			29,754			0.96			32,783			24,644			0.83
Covered and acquired (reversal of) provision for loan losses		1,692			1,100			0.03			1,744			1,134			0.04			(854	)		(555	)		(0.02	)
Other provision for loan losses		4,022			2,614			0.08			3,004			1,953			0.06			2,868			1,864			0.07

Pre-provision operating earnings (Non-GAAP)	$	52,457		$	37,237		$	1.11		$	46,702		$	32,841		$	1.06		$	34,797		$	25,954		$	0.89

(1)	Per share amounts may not appear to foot due to rounding.

(2)	After-tax amounts estimated based on a 35% marginal tax rate.

Table 12 - IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES⁽¹⁾

(dollars in thousands)


	For The Nine Months Ended
	September 30, 2014									September 30, 2013
	Dollar Amount									Dollar Amount
	Pre-tax			After-tax ⁽²⁾			Per share			Pre-tax			After-tax ⁽²⁾			Per share
Net Income (Loss) (GAAP)	$	96,306		$	70,687		$	2.25		$	46,193		$	39,499		$	1.33

Non-interest income adjustments
Gain on sale of investments and other non-interest income		(2,382	)		(2,076	)		(0.06	)		(2,315	)		(1,505	)		(0.05	)
Non-interest expense adjustments
Merger-related expenses		13,138			8,608			0.27			217			141			0.00
Severance expenses		6,812			4,427			0.14			2,321			1,509			0.05
(Gain) Loss on sale of long-lived assets, net of impairment		5,994			3,896			0.12			37,408			24,315			0.82
(Reversal of) Provision for FDIC clawback liability		(797	)		(518	)		(0.02	)		797			518			0.02
Debt prepayment		—			—			—			2,307			1,500			0.05
Other non-operating non-interest expense		198			129			0.01			1,246			810			0.04

Operating earnings (Non-GAAP)		119,269			85,153			2.71			88,174			66,787			2.27
Covered and acquired (reversal of) provision for loan losses		3,544			2,304			0.07			(2,439	)		(1,585	)		(0.05	)
Other (reversal of) provision for loan losses		9,021			5,863			0.19			2,884			1,874			0.06

Pre-provision operating earnings (Non-GAAP)	$	131,834		$	93,320		$	2.97		$	88,619		$	67,076		$	2.28

(1)	Per share amounts may not appear to foot due to rounding.

(2)	After-tax amounts estimated based on a 35% marginal tax rate.

MAKING THE MOST OF IT

3Q14 Earnings Conference Call

Supplemental Presentation

October 22, 2014

Safe Harbor And Legend

To the extent that statements in this press release and the accompanying PowerPoint presentation

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. The

Company’s actual strategies, results and financial condition in future periods may differ materially from

those currently expected due to various risks and uncertainties. Forward-looking statements are subject to

numerous assumptions, risks and uncertainties that change over time and could cause actual results or

financial condition to differ materially from those expressed in or implied by such statements.

Consequently, no forward-looking statement can be guaranteed.

In connection with the proposed merger with Florida Bank Group, Inc., IBERIABANK Corporation

intends to file a Registration Statement on Form S-4 that will contain a proxy statement / prospectus.

INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE PROXY

STATEMENT / PROSPECTUS REGARDING THE PROPOSED TRANSACTION, BECAUSE IT

CONTAINS IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the

proxy statement / prospectus and other documents containing information about IBERIABANK

Corporation and Florida Bank Group, Inc., without charge, at the SEC’s website at http://www.sec.gov.

Copies of the proxy statement / prospectus and the SEC filings that will be incorporated by reference in

the proxy statement / prospectus may also be obtained for free from the IBERIABANK Corporation

website, www.iberiabank.com, under the heading “Investor Information”.

This communication is not a solicitation of any vote or approval, is not an offer to purchase shares of

common stock of Florida Bank Group, Inc., nor is it an offer to sell shares of IBERIABANK Corporation

common stock which may be issued in the proposed merger. The issuance of IBERIABANK Corporation

common stock in any proposed merger would have to be registered under the Securities Act of 1933, as

amended, and such IBERIABANK Corporation common stock would be offered only by means of a

prospectus complying with the Act.

•

Reported EPS of $0.89 and non-GAAP operating EPS of $1.00

•

Tax equivalent net interest income increased $12.0 million, or 11% from 2Q14, while

average earning assets increased $1.3 billion, or 10%

•

Acquisition

Florida

Bank

Group,

Inc.

announced

October

2014

–

anticipate

closing

the transaction in the first quarter of 2015

•

Branch and systems conversion of First Private Bank completed over the weekend of

September 6-7, 2014

•

Legacy loan growth:

•

Legacy deposit growth:

•

Net interest margin decreased one bp to 3.47% from June 30, 2014, due mainly to a one bp

increase

the

yield

earning

assets

offset

three

increase

cost

funds

within

previously disclosed guidance range of 3.45% to 3.50%

•

Operating tangible efficiency ratio improved from 68.3% to 66.4%

•

Tax-equivalent operating revenues increased $9.1 million, or 6%, on a linked quarter basis

while operating expenses increased $3.4 million, or 3%, resulting in improved operating

leverage

Overview

Introductory Comments

$348 million since June 30, 2014 (+16% annualized), including $146 million

of Commercial and $202 million of Small Business and Consumer

Growth in the loan portfolio was balanced with 58% Retail and Small

Business and 42% Commercial

$397 million since June 30, 2014 (+13% annualized)

$110 million increase in non-interest bearing deposits (+14% annualized)

Overview

Non-Interest Income –

3Q14 Components

•

Operating non-interest income

decreased $2.9 million, or -6%,

on a linked quarter basis

•

Non-operating

non-interest

expense of $6.4

million before-tax,

or $4.2 million

after-tax or $0.12

per share

•

Operating non-

interest expense

increased $3.4

million, or 3%, on

a linked-quarter

basis

•

$1.7 million of the

operating expense

increase was due

to the full quarter

impact of Teche

and First Private

Overview

Non-Interest Expense –

3Q14 Components

Overview

Small Business and Retail –

3Q14 Progress

Excludes acquired loans and deposits

•

Small Business loan growth of $87 million, or +12%, on a linked-quarter basis

•

Indirect loan growth of $3 million, or +1%, on a linked-quarter basis

•

Consumer Direct & Mortgage loan growth of $128 million, or +7%, on a linked

quarter basis

•

Credit Card loan growth of $3 million, or +5%, on a linked quarter basis

•

Checking account growth:

•

Small Business checking accounts increased 13% year-over-year

and an annualized 9% on a linked quarter basis

•

Consumer checking accounts increased slightly year-over-year but

decreased an annualized 6% on a linked quarter basis due to

expected attrition from recently converted Teche portfolio

•

Continued focus on productivity and efficiency of the delivery network –

opened one branch in 3Q14, did not close any branches in 3Q14, and two

additional branch openings targeted by year-end 2014

•

Acceptance and usage of digital delivery continues to increase among our

client base

Overview

Non-Interest Bearing Deposits

% of Total

Deposits

•

$110 million of

incremental non-

interest-bearing

deposit growth or +4%

(+14% annualized) in

3Q14

•

Top 3Q14 non-

interest-bearing

deposit growth

markets include

Houston, Baton

Rouge, New Orleans,

Birmingham and

Sarasota

Non-interest-bearing deposits at period-end

$ in billions

Overview

Non-Performing Assets Trends

$ in millions

NPA determination based on regulatory guidance for Acquired portfolios

3Q14 includes $13 million of Bank-related properties reclassified to OREO

Overview

Legacy Portfolio

Asset Quality Summary

(Excludes FDIC covered assets and all acquired loans)

($ thousands)

9/30/2013

6/30/2014

9/30/2014

Non-accrual Loans

43,838

34,187

38,060

-13%

11%

OREO

30,607

34,794

23,477

-23%

-33%

Accruing Loans 90+ Days Past Due

1,418

-100%

-78%

Non-performing Assets

75,863

69,001

61,542

-19%

-11%

Note: NPAs excluding Former Bank Properties

65,345

50,415

48,808

-25%

-3%

Past Due Loans

57,662

48,189

50,505

-12%

Classified Loans

78,059

67,796

67,462

-14%

Non-performing Assets/Assets

0.66%

0.53%

0.46%

(20)

bps

(7)

bps

NPAs/(Loans + OREO)

0.98%

0.78%

0.67%

(31)

bps

(11)

bps

Classified Assets/Total Assets

0.66%

0.52%

0.50%

(16)

bps

(2)

bps

(Past Dues & Nonaccruals)/Loans

0.75%

0.55%

(20)

bps

Provision For Loan Losses

2,868

3,004

4,022

40%

34%

Net Charge-Offs/(Recoveries)

303

759

2,131

604%

181%

Provision Less Net Charge-Offs

2,565

2,245

1,891

-26%

-16%

Net Charge-Offs/Average Loans

0.02%

0.04%

0.09%

bps

Allowance For Loan Losses/Loans

0.83%

0.80%

0.79%

(4)

bps

(1)

bps

Allowance For Credit Losses/Loans

0.99%

0.93%

0.92%

(7)

bps

(1)

bps

For Quarter Ended:

% or Basis Point Change

Year/Year

Qtr/Qtr

•

NPAs equated to

0.46% of total assets,

down 7 bps compared

to 2Q14. Includes

$13 million of bank-

related properties

•

$67 million in

classified assets

(down $0.3 million

from 2Q14)

•

Legacy net charge-

offs of $2.1 million, or

an annualized rate of

0.09% of average

loans

•

$4 million provision

for legacy franchise in

3Q14

Overview

Allowance Coverage To NPAs –

Legacy IBKC

•

3Q14 Allowance for

loan losses of $72.5

million

•

3Q14 Reserve for

unfunded lending

commitments of $12.1

million

•

Legacy NPAs of $61.5

million; including

approximately $13

million of OREO bank-

related properties

•

Excluding former bank-

related properties,

ACL/NPAs equals

173.4%

Excludes all covered and acquired assets

Overview

Capital Ratios

•

Change in Tier 1

Leverage ratio due to

impact of acquisitions on

average total assets

used in calculations

Estimated Future Impacts:

•

Anticipated 50% phase-

out of trust preferred

securities beginning in

2015

•

Expiration of loss share

coverage on three FDIC-

assisted transactions

•

Commencing in 2015, the Company will experience a 50% phase-out of Tier 1 capital

treatment for its trust preferred securities with no commensurate change in total regulatory

capital

•

In addition, by year-end 2014, the Company will experience the expiration of FDIC loss share

protection on non-single family loans associated with three FDIC–assisted transactions

Q2 2014

Q3 2014

Well

Capitalized

Minimum

Tier 1 Leverage

10.03%

9.22%

(81)

bps

5.00%

Tier 1 Risk Based

11.23%

bps

6.00%

Tier 1 Common Risk Based

10.33%

10.34%

bps

3.00%

Total Risk Based

12.43%

12.42%

(1)

bps

10.00%

Tangible Common Equity / Tangible Assets

8.46%

8.47%

bps

N/A

IBERIABANK Corporation Capital Ratios

Change

•

The decline in Tier 1 leverage ratio in 3Q14 was due to the manner in which the leverage

ratio is calculated using capital in the numerator at period-end and average total assets in

the denominator

Estimated Proforma Impact on 3Q 2014 Capital Ratios

Phase out of Trust Preferred Securites (50% Phase Out)

(36)

bps

(45)

bps

End of Loss Share -

certain covered assets

bps

(14)

bps

(17)

bps

Total Impact

(36)

bps

(59)

bps

(17)

bps

Total Risk Based

Tier 1 Risk Based

Tier 1 Leverage

Acquisition Update

Florida Bank

Group, Inc.

•

Announced October 3, 2014

•

In market and new-market acquisition of a Florida-based

commercial bank based in Tampa, Florida

•

Adds

branches

Florida

–

eight

offices

Tampa,

three

Jacksonville, one in Sarasota and one in Tallahassee

As of September 30, 2014:

•

Total Loans:

$324 million

•

Total Assets:

$518 million

•

Total Deposits:

$393 million

•

Total Equity:

$37 million common stock and $25

million in convertible preferred equity

•

Combination cash and common stock with aggregate cash

consideration not to exceed 50% of total consideration

•

$7.81 in cash per Florida Bank Group common share, and

•

Fixed exchange ratio of 0.149 of a share of IBKC common

stock for each Florida Bank Group share within price collars

and

floating

exchange

ratios

outside

the

collars

(1)

•

$87 million(1) for common stock outstanding based on IBKC

closing price of $62.61 on October 2, 2014

•

$17.14

per

Florida

Bank

Group

outstanding

(1)

•

$3.5 million in cash liquidation value of options

•

Neutral to 2015 EPS and accretive thereafter

•

Slightly dilutive to TVBS (less than 1%)

•

IRR in excess of 20%

•

Price / Total Book:

142%

126%

•

Price / Tangible Book:

142%

126%

(1)

the

weighted

average

trading

price

IBERIABANK

common

stock

were

below

$56.79

per

share,

exceed

$76.83 per share, over a specified period, the value of the common stock portion of the transaction would become

fixed and the exchange ratio would float

(2)

Assumes the impact of cash liquidation for options, reversal of $23.4 million of deferred tax asset valuation

allowance, credit loss assumptions, interest rate adjustments and fair value marks to facilities

Common and

Preferred

With All Other

Adjustments

(2)

•

Gross loss estimate of $6.6 million on a pre-tax basis

(2% of gross loan portfolio)

•

Loss estimate is less than current allowance for loan

losses of $8.0 million

•

Neutral to 2015 EPS and accretive thereafter

•

Tangible book value dilution of less than 1% excluding one-time acquisition

and conversion related costs on a pro forma basis at June 30, 2014

•

Tangible book value breakeven, including one-time acquisition and

conversion related costs, in approximately two years

•

Strong pro forma capital ratios:

•

Tangible common equity ratio = 8.4%

•

Total risk based capital ratio = 12.6%

•

Internal rate of return over 20%; well in excess of our cost of capital

Conservative

Financial

Assumptions

Attractive

Financial

Impact

Other Marks:

Cost Savings:

Merger Related Costs:

•

Aggregate negative $1.2 million in other marks, including

securities portfolio, loan rate, allowance for loss reversal,

OREO, fixed assets, FHLB marks

•

Annual run-rate cost savings of approximately $5 million

on a pre-tax basis

•

Represents approximately 31% of Florida Bank’s

anticipated 2014 non-interest expenses

•

Savings expected to be achieved within six months

of closing

•

Approximately $20 million on a pre-tax basis

Credit Mark:

Florida Bank Group, Inc.

Financial Assumptions & Impact

Seasonal Influences

Seasonal Influences

Quarterly Organic Loan Growth

•

First quarter of each year tends to

exhibit slower loan growth than other

quarters

•

3Q14 organic loan growth of $348

million, down $34 million, or 10%,

compared to 2Q14 growth

Seasonal Influences

Mortgage Income

•

Mortgage 3Q14 Non-Interest Income of $12.8

million is $5.1 million lower than 2Q14 driven by

•

$7.0 million lower market value adjustment

gains (-$4.5 million recognized in 3Q14 versus

+$2.5 million in 2Q14)

•

$1.8 million higher gains on increased sales

volume (+24%) and higher sales margins (+6%)

•

$62,000 higher servicing income

•

Loan originations were up $20 million in 3Q14 to

$456 million from $436 million in 2Q14 (+5%)

•

The Pipeline plus Loans HFS at September 30th

was 11% lower than at June 30, 2014

Seasonal Influences

Weekly Locked Mortgage Pipeline Trends

•

Significant pipeline

declines in winter

months

•

Seasonal rebound

commences at the

start of each year

through spring

months into early

summer

•

Most recent decline

was 40% since

start of October

2013

•

2014 trending is

consistent with

prior years

•

Weekly locked

pipeline was $194

million at October

10, 2014, up 8%

since September

30, 2014

Seasonal Influences

Capital Markets and Wealth Management

•

ICP revenues of $2.7

million, or -9%,

compared to 2Q14

•

IWA revenues of $1.5

million, or -4%,

compared to 2Q14

•

IFS revenues of $2.6

million, or +4%,

compared to 2Q14

•

ICP currently

provides research

coverage on 77 public

energy companies

•

IWA assets under

management

increased $5 million

to $1.2 billion on

September 30, 2014,

Seasonal Influences

Payroll Taxes and Retirement Contributions

3Q14 includes full quarter of Teche and First Private results

Seasonal Influences

Checking NSF Related Charges

3Q14 includes full quarter of Teche and First Private results

Appendix

Appendix

Performance Metrics –

Quarterly Trends

•

Average earning

assets up $1.3

billion (+10%)

•

T/E net interest

income up $12

million (+11%)

•

Provision for loan

losses of $6 million:

•

Legacy net charge-

offs: $2.1 million

(0.09% annualized

rate)

•

Covered and

acquired net

charge offs: $0.1

million (0.02%

annualized rate)

•

Legacy provision

for loan losses:

$4.0 million

9/30/2013

12/31/2013

3/31/2014

6/30/2014

9/30/2014

Net Income ($ in thousands)

23,192

25,604

22,395

18,548

29,744

60%

Per Share Data:

Fully Diluted Earnings

0.78

0.86

0.75

0.60

0.89

48%

Operating Earnings (Non-GAAP)

0.83

0.87

0.73

0.96

1.00

Pre-provision Operating Earnings (Non-GAAP)

0.89

0.97

0.78

1.06

1.11

Tangible Book Value

37.00

37.17

37.59

37.41

37.91

Key Ratios:

Return on Average Assets

0.71%

0.77%

0.68%

0.53%

0.76%

bps

Return on Average Common Equity

6.08%

6.62%

5.83%

4.56%

6.52%

196

bps

Return on Average Tangible Common Equity (Non-GAAP)

8.74%

9.43%

8.36%

6.62%

9.68%

306

bps

Net Interest Margin (TE)

(1)

3.37%

3.52%

3.54%

3.48%

3.47%

(1)

bps

Tangible Operating Efficiency Ratio (TE)

(1)

(Non-GAAP)

73.0%

69.9%

73.6%

68.3%

66.4%

(182)

bps

Tangible Common Equity Ratio (Non-GAAP)

8.64%

8.55%

8.61%

8.46%

8.47%

bps

Tier 1 Leverage Ratio

9.65%

9.70%

9.61%

10.03%

9.22%

(81)

bps

Tier 1 Common Ratio (Non-GAAP)

10.95%

10.55%

10.44%

10.33%

10.34%

bps

Total Risk Based Capital Ratio

13.28%

12.82%

12.69%

12.43%

12.42%

(1)

bps

Net Charge-Offs to Average Loans

(2)

0.02%

0.07%

0.05%

0.04%

0.09%

bps

Non-performing Assets to Total Assets

(2)

0.66%

0.61%

0.49%

0.53%

0.46%

(7)

bps

(1)

Fully taxable equivalent basis.

(2)

Excluding FDIC Covered Assets and Acquired Assets.

For Quarter Ended:

Linked Quarter

%/Basis Point

Change

Appendix

Non-Interest Income Trends

•

Deposit service charge income increased $2.0 million or 24%

•

ATM/Debit card fee income increased $0.4 million or 12%

•

Title revenue increased $0.3 million, or 6%

•

Mortgage income decreased $5.1 million or 29%

•

Decreased broker commissions income of $0.2 million or -3%

•

Gains on sale of investments increased $0.6 million

3Q14 originations up 5% from 2Q14

Refinancings were 25% of production,

up from 13% in 2Q14

Sales up 24% in 3Q14

Margins 6% higher in 3Q14

Pipeline of $170 million at quarter-end,

down 6% as compared to June 30,

2014. At October 10, 2014, the locked

pipeline was $194 million or +8% over

September 30, 2014

Non-interest Income ($000s)

3Q13

4Q13

1Q14

2Q14

3Q14

$ Change

% Change

Service Charges on Deposit Accounts

7,512

7,455

7,012

8,203

10,205

2,002

24%

ATM / Debit Card Fee Income

2,476

2,493

2,467

2,937

3,287

350

12%

BOLI Proceeds and CSV Income

908

900

934

1,047

113

12%

Mortgage Income

15,202

12,356

10,133

17,957

12,814

(5,143)

-29%

Title Revenue

5,482

4,327

4,167

5,262

5,577

315

Broker Commissions

3,950

4,986

4,048

5,479

5,297

(182)

-3%

Other Noninterest Income

7,720

6,179

5,129

7,182

6,854

(328)

-5%

Noninterest income excluding non-operating income

43,250

38,696

33,890

47,954

45,081

(2,873)

-6%

Gain (Loss) on Sale of Investments, Net

582

574

6797%

Other Non-operating income

1,772

(1)

-100%

Total Non-interest Income

43,263

38,715

35,681

47,963

45,663

(2,300)

-5%

3Q14 vs. 2Q14

3Q14 includes full quarter of Teche and First Private results

Appendix

Non-Interest Expense Trends

•

Non-interest expenses excluding non-operating items up

$3.4 million, or 3%, as compared to 2Q14

•

Total expenses down $7.3 million, or -6%, in 3Q14

•

Severance expense down $4.2 million, mostly related to

Teche acquisition

•

Impairment of long-lived assets up $3.0 million

•

Merger-related expense decreased $8.7 million

•

Operating Tangible Efficiency Ratio of 66.4%, down 190 bps

Linked quarter increases/decreases of:

2Q14 includes one month of Teche results

Non-interest Expense ($000s)

3Q13

4Q13

1Q14

2Q14

3Q14

$ Change

% Change

Mortgage Commissions

4,238

3,169

2,215

3,481

3,912

431

12%

Hospitalization Expense

4,303

3,899

3,944

3,661

4,611

950

26%

Other Salaries and Benefits

50,140

52,108

53,582

55,921

54,898

(1,023)

-2%

Salaries and Employee Benefits

58,681

59,176

59,741

63,063

63,421

358

Credit/Loan Related

5,248

2,776

3,560

3,093

4,569

1,476

48%

Occupancy and Equipment

13,863

13,971

13,775

13,918

14,580

662

Amortization of Acquisition Intangibles

1,179

1,177

1,218

1,244

1,493

249

20%

All Other Non-interest Expense

26,933

25,328

27,328

28,913

29,602

689

Nonint. Exp. (Ex-Non-Operating Exp.)

105,904

102,428

105,622

110,231

113,666

3,435

Severance

554

216

119

5,466

1,226

(4,240)

-78%

Occupancy and Branch Closure Costs

594

(14)

-100%

Storm-related expenses

184

(3)

-78%

Impairment of Long-lived Assets, net of gains on sales

977

(225)

541

1,241

4,213

2,972

239%

Provision for FDIC clawback liability

667

(797)

100%

Debt Prepayment

Termination of Debit Card Rewards Program

(311)

(22)

Consulting and Professional

(630)

Merger-Related Expenses

566

967

10,419

1,752

(8,667)

-83%

Total Non-interest Expense

108,152

102,674

107,428

127,375

120,060

(7,315)

-6%

Tangible Efficiency Ratio - excl Nonop-Exp

73.0%

69.9%

73.6%

68.3%

66.4%

3Q14 vs. 2Q14

Salary and benefits expense

$0.4 mil

Credit/Loan related expense

1.5

Hospitalization expense

1.0

Other incentives

1.6

Increased due to the timing and consummation of Teche

and First Private added approximately $1.7 million in

operating expenses in 3Q14

Appendix

Deposits Costs

•

Our deposit

costs declined

greater than

peers

•

A portion of the

lower costs were

due to improved

mix of deposits

•

Non-interest-

bearing deposits

grew from 11%

of total deposits

in 2010 to 26%

of total deposits

in 3Q14

Appendix

Loan Growth Since Year-End 2008

December 31, 2008

$3.7 Billion

September 30, 2014

$11.1 Billion

Acquired loans, net of discount

+$4.0 billion

Acquired loan pay downs

($2.1 billion)

Legacy loan growth

+$5.4 billion

Total net growth

+$7.3 billion

Appendix

Loan Growth

Legacy Loan Growth

$ in millions

The FDIC

covered loan

portfolio declined

69%, or $1.2

billion (14%

annualized rate)

$5.1 billion, or

+123% (+26%

annualized)

Since YE 2009:

$3.8 billion, or

+71% (+26%

annualized)

Since YE 2011:

$348 million, or

+4% (+16%

annualized)

Quarter 2014:

Appendix

Loan Originations 3Q14 –Top Markets

$ in millions

•

$1.2 billion in total

funded loans and

unfunded loan

commitments

originated in 3Q14

•

Significant growth in

Houston, New

Orleans, Lafayette,

Birmingham, and

Baton Rouge

•

Continued growth in

other markets in which

we have invested

heavily

Loan commitments and originations include renewals

Appendix

Deposit Growth Since Year-End 2008

December 31, 2008

$4.0 Billion

September

30,

2014

$12.4 Billion

•

$8.4 billion growth in total

deposits or +210% (+36%

annualized)

Excludes acquired deposits

Appendix

Deposit Growth

$ in millions

•

Increase of $397

million, or 3% in

3Q14 (+13%

Annualized)

•

$110 million (+4%)

growth in NIB

deposits for 3Q14

Total Deposit Growth

Very strong

transaction account

growth in 4Q12

Appendix

Market Highlights For 3Q14

•

Competitive pressure remains strong for high quality commercial and

business banking clients in terms of both pricing and structure

•

Houston, New Orleans, Baton Rouge, Birmingham, and Huntsville

showed strong commercial loan originations

•

Total commitments originated during 3Q14 of $1.2 billion with 34%

fixed rate and 66% floating rate

•

Commercial loans originated and funded in 3Q14 totaled $445 million

with a mix of 23% fixed and 77% floating ($775 million in commercial

loan commitments during the quarter)

•

Strong commercial pipeline in excess of $629 million at quarter-end

•

Small Business loan growth of $66 million, or +6%, on a linked-quarter

basis

•

Period-end core deposit increase of $307 million, with non-interest

bearing deposits up $110 million (up $309 million linked quarter

growth

average

balance

basis)

–

mainly

result

the

Teche

and First Private acquisitions

Appendix

Asset Quality Portfolio Trends

($thousands)

Non-accruals

341,691

208,673

195,680

-43%

-6%

OREO & Foreclosed

128,987

84,479

63,386

-51%

-25%

90+ Days Past Due

10,844

1,095

190

-98%

-83%

Non-performing Assets

481,522

294,247

259,256

-46%

-12%

NPAs/Assets

3.66%

1.92%

1.67%

(199)

bps

(25)

bps

NPAs/(Loans + OREO)

5.25%

2.68%

2.32%

(293)

bps

(36)

bps

LLR/Loans

1.64%

1.23%

1.21%

(43)

bps

(2)

bps

ACL/Loans

1.77%

1.33%

1.32%

(45)

bps

(1)

bps

Net Charge-Offs/Loans

0.01%

0.03%

0.08%

bps

Past Dues:

30-89 Days Past Due

26,445

31,875

23,784

-10%

-25%

90+ days Past Due

10,844

1,095

190

-98%

-83%

Non-accual Loans

341,691

208,673

195,680

-43%

-6%

Total 30+ Past Dues

378,979

241,642

219,654

-42%

-9%

% Loans

4.19%

2.22%

1.98%

(221)

bps

(24)

bps

Total Portfolio

% or Basis Point Change

3Q13

2Q14

3Q14

Year/Year

Qtr/Qtr

Appendix

Non-Operating Items (Non-GAAP)

Non-operating adjustments equal to $5.8 million pre-tax or $0.11 EPS after-tax:

•

3Q14 Merger related expense of $1.8 million pre-tax or $0.04 EPS after-tax

•

3Q14 Severance expense of $1.2 million pre-tax or $0.02 EPS after-tax

•

Net impairment expense of $4.2 million pre-tax or $0.08 EPS after-tax

•

Reversal of provisioning for FDIC clawback liability of $0.7 million pre-tax or $0.02 after tax

Pre-tax

After-tax

(2)

Per share

Pre-tax

After-tax

(2)

Per share

Pre-tax

After-tax

(2)

Per share

Net Income (Loss) (GAAP)

30,549

23,192

0.78

24,819

18,548

0.60

40,930

29,744

0.89

Non-interest income adjustments

Gain on sale of investments and other non-interest income

(13)

(8)

(0.00)

(9)

(6)

(0.00)

(582)

(378)

(0.01)

Non-interest expense adjustments

Merger-related expenses

0.00

10,419

6,840

0.22

1,752

1,139

0.04

Severance expenses

554

360

0.01

5,466

3,553

0.11

1,226

797

0.02

(Gain) Loss on sale of long-lived assets, net of impairment

977

635

0.02

1,241

807

0.03

4,213

2,738

0.08

(Reversal of) Provision for FDIC clawback liability

667

434

0.01

(797)

(518)

(0.02)

Other non-operating non-interest expense

(36)

(23)

(0.00)

0.00

(0.00)

Operating earnings (Non-GAAP)

(3)

32,783

24,644

0.83

41,954

29,754

0.96

46,743

33,523

1.00

Covered and acquired impaired (reversal of) provision for loan losses

(854)

(555)

(0.02)

1,744

1,134

0.04

1,692

1,100

0.03

Other (reversal of) provision for loan losses

2,868

1,864

0.07

3,004

1,953

0.06

4,022

2,614

0.08

Pre-provision operating earnings (Non-GAAP)

(3)

34,797

25,954

0.89

46,702

32,841

1.06

52,457

37,237

1.11

(1) Per share amounts may not appear to foot due to rounding.

(2) After-tax amounts estimated based on a 35% marginal tax rate.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(1)

(dollars in thousands)

For The Quarter Ended

September 30, 2013

June 30, 2014

September 30, 2014

Dollar Amount

•

Investment yield

decreased 4 bps

•

Non-covered loan yield

increased 7 bps from

2Q14

•

Net covered loan yield

decreased 9 bps

•

Average non-interest-

bearing deposits up $309

million (+11% linked

quarter basis)

•

Interest-bearing deposit

costs increased 5 bps

•

Margin declined 1 bps to

3.47%

Appendix

Performance Metrics –

Yields and Costs

6/30/2014

9/30/2014

Investment Securities

2.24%

2.20%

(4)

bps

Covered Loans, net of loss share receivable

3.16%

3.07%

(9)

bps

Non-covered Loans

4.30%

4.37%

bps

Loans & Loss Share Receivable

4.22%

4.29%

bps

Mortgage Loans Held For Sale

4.21%

3.84%

(37)

bps

Other Earning Assets

0.82%

0.60%

(22)

bps

Total Earning Assets

3.80%

3.81%

bps

Interest-bearing Deposits

0.35%

0.40%

bps

Short-Term Borrowings

0.16%

0.17%

bps

Long-Term Borrowings

3.34%

2.75%

(59)

bps

Total Interest-bearing Liabilities

0.43%

0.46%

bps

Net Interest Spread

3.38%

3.36%

(2)

bps

Net Interest Margin

3.48%

3.47%

(1)

bps

(1)

Earning asset yields are shown on a fully taxable-equivalent basis.

For Quarter Ended:

Linked Quarter

Basis Point

Change

Appendix

Non-GAAP Cash Margin

•

Adjustments represent accounting

impacts of purchase discounts on

acquired loans and related accretion

as well as the I/A and related

amortization on the covered portfolio

Balances as

Reported

Adjustments

As Adjusted

3Q13

Average Balance

11,674,648

(199,543.31)

11,475,104

Income

97,452

101

97,554

Rate

3.37%

-0.01%

3.35%

4Q13

Average Balance

11,853,895

(192,574.05)

11,661,322

Income

103,438

(2,061)

101,377

Rate

3.52%

-0.02%

3.49%

1Q14

Average Balance

12,088,182

(171,440.32)

11,916,741

Income

104,408

(2,517)

101,890

Rate

3.54%

-0.10%

3.44%

2Q14

Average Balance

12,693,217

(156,606)

12,536,611

Income

108,979

687

109,665

Rate

3.48%

0.01%

3.49%

3Q14

Average Balance

13,990,968

(157,213)

13,833,755

Income

121,041

(3,544)

117,497

Rate

3.47%

-0.12%

3.35%

Appendix

Expected Quarterly Re-pricing Schedule

$ in millions

Note: Amounts exclude re-pricing of assets and liabilities from prior quarters

Excludes FDIC loans and receivable, non-accrual loans and market value adjustments

4Q14

1Q15

2Q15

3Q15

4Q15

Cash Equivalents

Balance

481.1

Rate

0.69%

0.00%

Investments

Balance

68.6

60.9

77.1

84.1

82.9

Rate

3.02%

2.97%

2.92%

2.75%

2.82%

Fixed Rate Loans

Balance

200.2

145.0

158.9

177.3

150.6

Rate

4.94%

4.95%

5.05%

4.96%

4.91%

Variable Rate Loans

Balance

4,840.3

35.4

40.4

44.4

17.5

Rate

3.28%

3.02%

3.11%

3.54%

3.36%

Held for Sale Loans

Balance

148.5

Rate

3.52%

0.00%

Time Deposits

Balance

702.8

314.2

321.9

256.4

104.6

Rate

0.38%

0.62%

0.70%

0.80%

0.84%

Repos/ST Debt

Balance

504.8

180.0

125.0

Rate

0.15%

0.19%

0.20%

0.00%

Borrowed Funds

Balance

126.5

2.1

10.1

3.3

1.9

Rate

3.11%

3.20%

3.49%

3.95%

3.60%

Appendix

Interest Rate Risk Simulation

Source: Bancware model, as of September 30, 2014

* Assumes instantaneous and parallel shift in interest rates based on static balance sheet

•

Asset sensitive from an interest rate risk position

•

The degree of asset sensitivity is a function of the reaction of

competitors to changes in deposit pricing

•

Forward curve has a positive impact over 12 months

Base

Blue

Forward

Change In:

-200 bp*

-100 bp*

Case

+100 bp*

+200 bp*

Chip

Curve

Net Interest

Income

-4.6%

-2.0%

0.0%

4.9%

9.8%

1.1%

1.0%

Economic

Value of

Equity

-12.1%

-17.7%

0.0%

2.7%

7.8%

-0.1%

Appendix

Performance Compared To Peers Since Year-End 1999

Measurement

Measure

Period

Total Asset Growth

Period-End CAGR

6.8%

9.4%

16.4%

Return on Average Assets

Annual Average

0.46%

0.98%

Return on Average Tangible Common Equity

Annual Average

7.30%

14.16%

15.44%

Nonperforming Assets-to-Total Assets

Average of Year-Ends

1.65%

1.12%

0.59%

Net Charge-Offs-to-Average Loans

Annual Average

0.48%

0.56%

0.25%

Operating EPS Growth

Annual Average

18.1%

15.7%

19.5%

Tangible Book Value Per Share Growth

(3)

Period-End CAGR

3.8%

6.6%

10.5%

Cumulative Shareholder Return

(4)

Period-End Growth

139.9%

233.6%

690.3%

(1)

U.S. publicly-traded bank holding companies at year-end 2013. Does not include entities that failed or were acquired.

(2)

U.S. publicly-traded bank holding companies at year-end 2013 with total assets between $10 billion and $30 billion.

Does not include entities that failed or were acquired.

(3)

Excludes bank holding companies with tangible book value per share less than zero at 12/31/13.

(4)

Assuming common stock price appreciation and the reinvestment of dividends since year-end 1999.

Average Over Period 2000-2013

BHC Peers

(2)

U.S. Publicly-

Traded BHCs

(1)

Publicly-Traded

IBERIABANK

Corporation

Appendix

Expected Amortization

Projected average balance includes the balance of the IA

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

$300

$600

$900

$1,200

$1,500

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Projected Average Balances and Net Yields

Projected Average Balance

Projected Net Yield

$ in Millions

Q1 2013

Q2 2013

Q3 2013

Q4 2013

2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

2014

Q1 2015

Revenues

41.6

30.3

30.9

37.1

139.9

25.9

23.0

30.2

13.9

93.1

11.9

Amortization

(27.7)

(18.1)

(22.9)

(29.1)

(97.8)

(19.3)

(17.0)

(25.1)

(8.7)

(70.1)

(4.0)

Net covered Income

13.9

12.2

8.0

42.1

6.7

6.0

5.1

5.3

23.0

7.9

Balance

1,424

1,224

1,100

941

1,171

846

756

670

573

711

504