Edgar Filing: TECHE HOLDING CO

Rule 425 Filing


Filed by IBERIABANK Corporation
Pursuant to Rule 425 under the Securities Act of 1933, as amended and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934, as amended
Subject Company: Teche Holding Company
Commission File		No: 000-25756
		No: 001-13712

LOGO

FOR IMMEDIATE RELEASE

January 28, 2014

Contact:

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

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

IBERIABANK Corporation Reports Fourth Quarter Results

LAFAYETTE, LOUISIANA — IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 126-year-old IBERIABANK (www.iberiabank.com), reported operating results for the fourth quarter ended December 31, 2013. For the quarter, the Company reported income available to common shareholders of $25.1 million, or $0.86 fully diluted earnings per share. In the fourth quarter of 2013, the Company incurred costs to implement previously disclosed earnings improvement initiatives and other non-operating costs equal to $0.2 million on a pre-tax basis, or $0.01 per share on an after-tax basis. Excluding those items, EPS in the fourth quarter of 2013 was $0.87 per share on a non-GAAP operating basis, compared to $0.83 per share in the third quarter of 2013 (refer to press release supplemental table).

Daryl G. Byrd, President and Chief Executive Officer, commented, “Our financial results showed continued improvement in operating leverage in the fourth quarter of 2013, exhibiting both revenue improvement and significant operating expense reductions. In addition, we experienced tremendous client loan growth spread across a number of markets. Our client deposit mix continues to improve as well, with noninterest bearing deposits growing by nearly one-third during 2013, reaching 24% of total deposits at year-end 2013, compared to 18% one year ago. We are delighted with the progress we continue to achieve for our clients and our shareholders and pleased we exceeded our EPS target for the fourth quarter.”

Highlights for the Fourth Quarter of 2013 and December 31, 2013:

•

The net interest margin increased 15 basis points on a linked quarter basis to 3.52%, which was above the upper-end of the previously disclosed guidance range of 3.35%. Based on interest rate risk modeling and other factors, management currently expects the net interest margin to be in the range of approximately 3.40% to 3.45% in the first quarter of 2014.

•

The Company’s profitability improvement initiatives continued in the fourth quarter of 2013. Operating expenses declined $3 million, or 3%, on a linked quarter basis. The Company’s tangible operating efficiency ratio declined from 73.0% in the third quarter of 2013 to 69.9% in the fourth quarter of 2013.

•

Gross loan growth was $449 million, or 5%, between quarter-ends (20% annualized rate), while loan growth excluding all assets covered under FDIC loss share agreements and other non-covered acquired assets (collectively “Acquired Assets”) increased $568 million, or 7%, between quarter-ends (29% annualized rate).

•

The Company’s legacy asset quality continued to be strong in the fourth quarter of 2013. At December 31, 2013, nonperforming assets (“NPAs”), excluding Acquired Assets, equated to 0.61% of total assets, loans past due 30 days or more equated to 0.80% of total loans, and classified assets excluding Acquired Assets equated to 0.69% of total assets.

•

The Company recorded a $4.7 million loan loss provision in the fourth quarter of 2013, compared to $2.0 million in the third quarter of 2013. Net charge-offs totaled $1.4 million in the fourth quarter of 2013, or an annualized 0.06% of average loans, compared to an average of 0.05% of average loans over the past eight quarters.

•

Capital ratios remained strong. At December 31, 2013, the Company’s tangible common equity ratio was 8.55%, Tier 1 common ratio was 10.55%, and total risk based capital ratio was 12.82%.

•

On January 13, 2014, the Company announced the signing of a definitive agreement to acquire by merger Teche Holding Company (“Teche”) based in New Iberia, Louisiana. At September 30, 2013, Teche had total assets of $857 million, gross loans of $686 million, and total deposits of $651 million. The Company anticipates closing the transaction in the second quarter of 2014, subject to customary closing conditions, including the receipt of regulatory approvals and the approval of Teche’s shareholders.

•

On January 17, 2014, the Company completed the acquisition of the Memphis operations of Trust One Bank, a division of Synovus Bank. The Company acquired four office locations, approximately $90 million in loans, and assumed approximately $194 million in deposits. All aspects of the client and branch conversion process were successfully completed over the weekend of January 18-19, 2014.

Table A - Summary Financial Results


	For the Quarter Ended:						Linked Quarter
Selected Financial Data	12/31/2012		9/30/2013		12/31/2013		% Change
Net Income ($ in thousands)	$	23,208	$	23,192	$	25,604		10	%

Per Share Data:
Fully Diluted Earnings	$	0.78	$	0.78	$	0.86		10	%
Operating Earnings (Non-GAAP)		0.80		0.83		0.87		4	%
Pre-provision Operating Earnings (Non-GAAP)		0.91		0.89		0.97		9	%
Tangible Book Value		37.34		37.00		37.17		0	%


	As of and for the Quarter Ended:									Linked Quarter Basis Point
Key Ratios	12/31/2012			9/30/2013			12/31/2013			Change
Return on Average Assets		0.73	%		0.71	%		0.77	%		6 bps
Return on Average Common Equity		6.02	%		6.08	%		6.62	%		54 bps
Return on Average Tangible Common Equity (Non-GAAP)		8.62	%		8.74	%		9.43	%		69 bps
Net Interest Margin (TE) ⁽¹⁾		3.55	%		3.37	%		3.52	%		15 bps
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) ⁽¹⁾		72.5	%		73.0	%		69.9	%		(310) bps
Tangible Common Equity Ratio (Non-GAAP)		8.66	%		8.64	%		8.55	%		(9) bps
Tier 1 Leverage Ratio		9.70	%		9.65	%		9.70	%		5 bps
Tier 1 Common Ratio (Non-GAAP)		11.74	%		10.95	%		10.55	%		(40) bps
Total Risk Based Capital Ratio		14.19	%		13.28	%		12.82	%		(46) bps
Net Charge-Offs to Average Loans ⁽²⁾		0.01	%		0.02	%		0.07	%		5 bps
Nonperforming Assets to Total Assets ⁽²⁾		0.69	%		0.66	%		0.61	%		(5) bps


	For the Quarter Ended:
	GAAP						Non-GAAP
Adjusted Selected Key Ratios	12/31/2013			Adjustments⁽³⁾			12/31/2013
Return on Average Assets		0.77	%		0.01	%		0.78	%
Return on Average Common Equity		6.62	%		0.07	%		6.68	%
Return on Average Tangible Common Equity (Non-GAAP)		9.43	%		0.09	%		9.51	%
Tangible Efficiency Ratio (TE)⁽¹⁾ (Non-GAAP)		70.0	%		(0.1	%)		69.9	%

⁽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 $179 million, or 1%, as average loans increased $197 million, or 2%, average investment securities increased $36 million, or 2%, and other earning assets declined $54 million, or 9%. Also on a linked quarter basis, the average earning asset yield increased 13 basis points, and the cost of interest bearing liabilities decreased two basis points. As a result, the tax-equivalent net interest spread and margin each increased 15 basis points. Tax-equivalent net interest income increased $5.9 million, or 6%, as average earning assets increased and the net interest margin expanded.

Table B - Quarterly Average Yields/Cost ⁽¹⁾


										Linked Quarter
	For Quarter Ended:									Basis Point
	12/31/2012			9/30/2013			12/31/2013			Change
Investment Securities		2.09	%		1.98	%		2.21	%		23 bps
Covered Loans, net of loss share receivable		7.68	%		3.66	%		4.28	%		62 bps
Noncovered Loans		4.52	%		4.39	%		4.43	%		4 bps

Loans & Loss Share Receivable		4.70	%		4.21	%		4.33	%		12 bps
Mortgage Loans Held For Sale		2.96	%		4.32	%		4.06	%		(26) bps
Other Earning Assets		0.61	%		0.89	%		0.94	%		5 bps

Total Earning Assets		4.06	%		3.74	%		3.87	%		13 bps
Interest Bearing Deposits		0.53	%		0.40	%		0.39	%		(1) bps
Short-Term Borrowings		0.21	%		0.14	%		0.15	%		1 bps
Long-Term Borrowings		3.17	%		3.37	%		3.37	%		0 bps

Total Interest Bearing Liabilities		0.65	%		0.49	%		0.47	%		(2) bps

Net Interest Spread		3.41	%		3.25	%		3.40	%		15 bps
Net Interest Margin		3.55	%		3.37	%		3.52	%		15 bps

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

The average investment yield improved 23 basis points during the fourth quarter of 2013 as a result of reduced bond premium amortization of $1.2 million, which the Company expects to continue based on the current level of interest rates.

The non-covered loan yield increased four basis points as some consumer loan yields improved between quarters. The covered loan yield (net of loss share receivable amortization) increased 62 basis points, which offset a decline in average covered loan volume of $120 million, or 14%, and as a result, the associated covered income remained stable on a linked quarter basis. Offsetting the decline in volume was $1.9 million in net covered and non-covered interest income due to pool closing events in the fourth quarter. The covered income in the fourth quarter of 2013 was consistent with management’s expectations.

For the first quarter of 2014, the Company projects the prospective yield on the covered loan portfolio net of the indemnification asset (“IA”) to approximate 3.73%, compared to 4.28% in the fourth quarter. The average balance of the net covered loan portfolio is projected to decline approximately $110 million, based on current cash flow assumptions and estimates. Net income on the covered loan portfolio is projected to decline $1.8 million between the fourth quarter of 2013 and first quarter of 2014. The Company projects the net covered income to equate to 7% of total net interest income in 2014, compared to 11% in 2013.

On a period-end basis, the IA declined $43 million, or 21%, from $205 million at September 30, 2013 to $162 million at December 31, 2013. The portion of the IA collectible from the FDIC decreased $27 million, or 41%, while the collectible portion from other real estate owned (“OREO”) and customers declined $16 million, or 11%.

In the fourth quarter of 2013, the Company recorded net charge-offs of $1.4 million, or 0.06% of average loans on an annualized basis and a provision for loan losses of $4.7 million, up $2.7 million, or 133% compared to the third quarter of 2013.

Aggregate noninterest income decreased $4.5 million, or 10%, on a linked quarter basis. The primary changes in noninterest income on a linked quarter basis were:

•

Decreased mortgage income of $2.8 million, or 19%; and

•

Decreased title revenue of $1.2 million, or 21%; partially offset by

•

Increased capital markets revenue of $1.0 million.

Assets under management at IBERIA Wealth Advisors (“IWA”) were $1.1 billion at December 31, 2013, stable compared to September 30, 2013, but up 14% compared to one year ago. Revenues for IWA decreased 7% on a linked quarter basis, but up 26% for the full year of 2013, compared to one year ago. IBERIA Financial Services revenues declined 4% on a linked quarter basis, and declined 1% for the full year of 2013 compared to the prior year. IBERIA Capital Partners experienced significantly higher investment banking revenue in the fourth quarter and at year-end, had achieved its stated goal of having 100 energy-related firms under research coverage.

The Company experienced a reduced level of interest rate derivative activity executed on behalf of clients, and, thus, a decrease in customer derivative commission income in the fourth quarter of 2013.

The $2.8 million decline in mortgage income was the result of lower production and sales volumes, due primarily to the changing interest rate environment. The decline in income was partially offset by a $1.1 million reduction in mortgage commission and mortgage production incentives expense (included in noninterest expense).

In the fourth quarter of 2013, the Company originated $404 million in residential mortgage loans, down $103 million, or 20%, on a linked quarter basis. Client loan refinancing opportunities accounted for approximately 19% of mortgage loan applications in the fourth quarter of 2013, unchanged compared to the third quarter of 2013, and approximately 15% between December 31, 2013, and January 17, 2014. The Company sold $380 million in mortgage loans during the fourth quarter of 2013, down $172 million, or 31%, on a linked quarter basis. Margins on the sale of mortgage loans remained stable on a linked quarter basis. The mortgage origination pipeline was approximately $110 million at December 31, 2013, compared to $182 million at September 30, 2013, and was approximately $123 million at January 17, 2014. The mortgage business primarily focuses on retail mortgage loans originated by the Company; less than 0.5% of originations in 2013 were purchased through correspondent mortgage loan providers (primarily for community reinvestment-related loan opportunities).

Noninterest expense decreased $5 million, or 5%, on a linked quarter basis and included the following linked-quarter changes:

•

Decreased provision for unfunded lending commitments of $2.4 million;

•

Decreased impairment of long-lived assets of $1.2 million;

•

Decreased mortgage commissions and production incentives of $1.1 million;

•

Decreased marketing and business development expense of $0.7 million;

•

Decreased hospitalization and payroll tax expense of $0.7 million;

•

Decreased provision for FDIC claw-back liability of $0.7 million;

•

Decreased occupancy and equipment expense of $0.5 million;

•

Decreased ATM/debit card expense of $0.4 million; partially offset by

•

Increased benefit costs due to higher value of the Company’s stock price of $1.5 million; and

•

Increased OREO property costs of $1.3 million;

Excluding non-operating expenses, total expenses declined $3 million, or 3%, from $106 million in the third quarter of 2013 to $102 million in the fourth quarter of 2013. The Company continues to review its operating metrics for future opportunities to improve revenues and reduce expenses.

Loans

Total loans increased $449 million, or 5%, between September 30, 2013 and December 31, 2013. The loan portfolio associated with FDIC-assisted acquisitions at December 31, 2013, decreased $87 million, or 11%, compared

to September 30, 2013. Excluding Acquired Assets, total loans increased $568 million, or 7% (29% annualized rate), during the fourth quarter. Legacy commercial loans increased $500 million, or 9% (which included $34 million in business banking loan growth, up 4%, or 18% annualized rate), legacy consumer loans increased $45 million, or 2%, and legacy mortgage loans increased $24 million, or 6%, during the quarter. Loan origination and renewal growth during the fourth quarter of 2013 were strongest in the Houston, New Orleans, Birmingham, Memphis, and Baton Rouge markets. Loan origination and renewal mix in the fourth quarter of 2013 was 37% fixed rate and 63% floating rate and total loans outstanding (excluding nonaccruals) were 49% fixed and 51% floating. Loans and commitments originated and/or renewed during the fourth quarter of 2013 totaled $1.4 billion (up 19% on a linked quarter basis). Energy-related loans outstanding totaled $764 million at December 31, 2013, up $90 million, or 13%, compared to September 30, 2013, and equated to approximately 8% of total loans. The Company had no student loans outstanding at December 31, 2013.

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


	Period-End Balances ($ Millions)						% Change									Mix
	12/31/12		9/30/13		12/31/13		Year/Year			Qtr/Qtr			Annualized			9/30/13			12/31/13
Commercial	$	4,913	$	5,541	$	6,041		23	%		9	%		36	%		61	%		64	%
Consumer		1,577		1,788		1,833		16	%		2	%		10	%		20	%		19	%
Mortgage		257		390		414		61	%		6	%		25	%		4	%		4	%

Legacy Loans	$	6,748	$	7,720	$	8,288		23	%		7	%		29	%		85	%		87	%
Acquired Loans		658		516		484		-26	%		-6	%		-25	%		6	%		5	%
Covered Loans		1,093		807		720		-34	%		-11	%		-43	%		9	%		8	%

Total Loans	$	8,499	$	9,043	$	9,492		12	%		5	%		20	%		100	%		100	%

Deposits

Total deposits decreased $214 million, or 2%, from September 30, 2013 to December 31, 2013. Noninterest bearing deposits increased $47 million, or 2%, and equated to 24% of total deposits at December 31, 2013, while NOW accounts increased $146 million, or 7%.

In contrast, money market and savings account volume decreased $254 million, or 6%, between September 30, 2013 and December 31, 2013. Time deposits declined $153 million, or 8% between quarter-ends. Period-end deposit growth during the fourth quarter of 2013 was strongest in the Lafayette, Birmingham, Northeast Arkansas, and Northwest Arkansas markets.

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


	Period-End Balances ($ Millions)						% Change									Mix
	12/31/12		9/30/13		12/31/13		Year/Year			Qtr/Qtr			Annualized			9/30/13			12/31/13
Noninterest	$	1,968	$	2,529	$	2,576		31	%		2	%		7	%		23	%		24	%
NOW Accounts		2,523		2,137		2,283		-10	%		7	%		27	%		20	%		21	%
Savings/MMkt		4,103		4,421		4,167		2	%		-6	%		-23	%		40	%		39	%
Time Deposits		2,154		1,864		1,711		-21	%		-8	%		-33	%		17	%		16	%

Total Deposits	$	10,748	$	10,951	$	10,737		0	%		-2	%		-8	%		100	%		100	%

On an average balance and linked quarter basis, noninterest-bearing deposits increased $234 million, or 10%, and interest-bearing deposits decreased $127 million, or 1%. The rate on average interest-bearing deposits in the fourth quarter of 2013 was 0.39%, a decrease of one basis point on a linked quarter basis. Approximately $1.6 billion in time deposits are scheduled to re-price over the next 12 months at a weighted average cost of 0.55%. An additional $0.2 billion in time deposits are scheduled to re-price over the following 12 months at a weighted average cost of 1.11%. During the fourth quarter of 2013, new and re-priced time deposits were booked at an average cost of 0.32%. The Company experienced a time deposit retention rate of 79% in the fourth quarter of 2013 with an average 38 basis point reduction in rate.

Other Assets And Funding

Excess liquidity averaged $205 million in the fourth quarter of 2013, down $8 million, or 4%, on a linked quarter basis. The investment portfolio remained stable at $2.1 billion on average in the fourth quarter of 2013. Also, on a period-end basis, the investment portfolio equated to $2.1 billion, or 16% of total assets at December 31, 2013, unchanged compared to September 30, 2013. The investment portfolio had a modified duration of 3.9 years at December 31, 2013, up compared to 3.5 years at September 30, 2013. At current prepayment speeds, the investment portfolio is projected to create cash flows of approximately $379 million over the next 12 months, or 18% of the total investment portfolio. The Company estimates that a potential increase in interest rates of 100 and 200 basis points at December 31, 2013 would extend the duration of the investment portfolio by 0.4 and 0.5 years, respectively. The investment portfolio went from a $3 million unrealized loss at September 30, 2013, to a $28 million unrealized loss at December 31, 2013. The average yield on investment securities increased 23 basis points on a linked quarter basis to 2.21% in the fourth quarter of 2013. The Company holds in its investment portfolio primarily government agency securities. Municipal securities comprised only 9% of total investments at December 31, 2013. 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 long-term debt decreased $1 million, or less than 1%, and the cost of debt remained stable at 3.37%. The cost of average interest bearing liabilities was 0.47% in the fourth quarter of 2013, a decrease of two basis points on a linked quarter basis.

Asset Quality

To provide additional consistency and transparency for financial reporting of Acquired Assets, the Company divides Acquired Assets into five distinct categories:

Legacy assets that were originated and not acquired;

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.

Legacy NPAs at December 31, 2013 were $73 million, down 4% compared to September 30, 2013. NPAs equated to 0.61% of total assets at December 31, 2013, compared to 0.66% of total assets at September 30, 2013. Loans past due 30 days or more (including nonaccruing loans) increased $8 million, or 15%, and represented 0.80% of total loans at December 31, 2013, compared to 0.75% at September 30, 2013. Classified assets increased $4 million, or 5%, during the fourth quarter of 2013.

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)	12/31/2012			9/30/2013			12/31/2013			Year/Year			Qtr/Qtr
Nonperforming Assets	$	75,667		$	75,863		$	73,034			-3	%		-4	%
Past Due Loans		62,083			57,662			66,153			7	%		15	%
Classified Assets		125,310			78,059			82,199			-34	%		5	%

Nonperforming Assets/Assets		0.69	%		0.66	%		0.61	%		(8	) bps		(5	) bps
NPAs/(Loans + OREO)		1.12	%		0.98	%		0.88	%		(24	) bps		(10	) bps
Classified Assets/Total Assets		1.14	%		0.66	%		0.69	%		(45	) bps		3	bps
(Past Dues & Nonaccruals)/Loans		0.92	%		0.75	%		0.80	%		(12	) bps		5	bps

Provision For Loan Losses	$	(2,715	)	$	2,868		$	4,621			270	%		61	%
Net Charge-Offs/(Recoveries)		90			303			1,366			1411	%		351	%

Provision Less Net Charge-Offs	$	(2,805	)	$	2,565		$	3,255			216	%		27	%

Net Charge-Offs/Average Loans		0.01	%		0.02	%		0.07	%		6	bps		5	bps
Allowance For Loan Losses/Loans		1.10	%		0.83	%		0.81	%		(29	) bps		(2	) bps
Allowance for Credit Losses to Total Loans		1.10	%		0.99	%		0.95	%		(15	) bps		(4	) bps

Table F provides a breakdown of Acquired Assets under the other four 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 Acquired Assets						Total Acquired Assets
($ thousands)	Non SFR (Losing Loss Share Coverage within next 12 months) ⁽²⁾			SFR (Losing Loss Share Coverage 10 years from Acquisition)			SOP Assets			Non-SOP Assets			Total Acquired Assets
Loans, net	$	405,945		$	313,848		$	452,789		$	31,116		$	1,203,698
Other Real Estate Owned		49,068			12,734			9,098			—			70,900
Allowance for Loan Losses		(53,552	)		(17,623	)		(4,370	)		(186	)		(75,731	)

Nonaccrual loans	$	114,014		$	76,002		$	36,725		$	—		$	226,741
Foreclosed assets		1,328			—			44			—			1,372
Other real estate owned		47,740			12,734			9,054			—			69,528
Accruing Loans More Than 90 Days Past Due		—			579			540			—			1,119

Nonperforming Assets		163,082			89,315			46,363			—			298,760

Total Past Due Loans	$	124,139		$	66,456		$	43,096		$	—		$	247,388

Nonperforming Assets to Total Loans and OREO		35.84	%		27.35	%		10.04	%		0.00	%		23.44	%
Past Due and Nonaccrual Loans to Loans		30.58	%		21.17	%		9.52	%		0.00	%		20.55	%

Provision For Loan Losses	$	605		$	245		$	(770	)	$	—		$	79
Net Charge-Offs/(Recoveries)		(8	)		(0	)		15			—			7

Provision Less Net Charge-Offs	$	613		$	245		$	(785	)	$	—		$	72

Net Charge-Offs to Average Loans		0.00	%		0.00	%		0.01	%		0.00	%		0.00	%
Allowance for Loan Losses to Loans		13.19	%		5.62	%		0.97	%		0.60	%		6.29	%
Allowance for Credit Losses to Total Loans		13.19	%		5.62	%		0.97	%		0.72	%		6.29	%

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

⁽²⁾	$49.4 million of loans are maintaining loss share coverage beyond the next 12 months. $3.7 million of indemnification asset is collectible from the FDIC and OREO transactions beyond the next twelve months.

Capital Position

The Company maintains favorable capital strength. At December 31, 2013, the Company reported a tangible common equity ratio of 8.55%, down nine basis points compared to September 30, 2013. At December 31, 2013, the Company’s preliminary Tier 1 leverage ratio was 9.70%, up five basis points compared to September 30, 2013. The Company’s preliminary total risk-based capital ratio at December 31, 2013 was 12.82%, down 46 basis points compared to September 30, 2013. The decline in the risk-based capital ratio was due in part to the redeployment of cash and FDIC-loan pay downs that carried a zero percent and 20% risk weighting, respectively, into non-covered loans that carried a higher risk weighting.

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 fourth quarter of 2013. A total of 46,692 shares remain under the currently authorized share repurchase program.

At December 31, 2013, book value per share was $51.40, up $0.10 per share compared to September 30, 2013. Tangible book value per share was $37.17, up $0.17 per share compared to September 30, 2013. Based on the closing stock price of the Company’s common stock of $62.63 per share on January 28, 2014, this price equated to 1.22 times December 31, 2013 book value and 1.68 times December 31, 2013 tangible book value per share.

On December 9, 2013, 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 2.17%.

IBERIABANK Corporation

The Company is a financial holding company with 267 combined offices, including 172 bank branch offices and four loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 21 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 61 locations in 12 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 $1.9 billion, based on the NASDAQ Global Select Market closing stock price on January 28, 2014.

The following 13 investment firms currently provide equity research coverage on the Company:

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Bank of America Merrill Lynch

•

FIG Partners, LLC

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Jefferies & Co., Inc.

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Keefe, Bruyette & Woods, Inc.

•

Merion Capital Group

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Oppenheimer & Co., Inc.

•

Raymond James & Associates, Inc.

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Robert W. Baird & Company

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Sandler O’Neill + Partners, L.P.

•

Stephens, Inc.

•

Sterne, Agee & Leach

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SunTrust Robinson-Humphrey

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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 Wednesday, January 29, 2014, beginning at 8:30 a.m. Central Time by dialing 1-800-230-1074. The confirmation code for the call is 315173. A replay of the call will be available until midnight Central Time on February 5, 2014 by dialing 1-800-475-6701. The confirmation code for the replay is 315173. 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 are infrequent in nature. 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.

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 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 the Company’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 efficiency 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 the Company’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 frame 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 Company’s and Teche’s 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 the Company’s Form 10-K for the fiscal year ended December 31, 2012, and Form 10-Qs for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013 and other documents subsequently filed by the Company with the SEC and under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in Teche’s Form 10-K for the fiscal year ended September 30, 2013, and other documents subsequently filed by Teche with the SEC. Consequently, no forward-looking statement can be guaranteed. Neither the Company nor Teche 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, the Company and Teche 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 the Company and Teche. 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, the Company will file with the SEC a registration statement on Form S-4 that will include a proxy statement/prospectus for the shareholders of Teche. The Company also plans to file other documents with the SEC regarding the proposed merger transaction. Teche 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 the Company and Teche, 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 the Company’s website (http://www.iberiabank.com), under the heading “Investor Information” and on Teche’s website at http://www.teche.com.

The Company and Teche, 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

Teche in respect of the proposed merger transaction. Information regarding the directors and executive officers of the Company is set forth in the definitive proxy statement for the Company’s 2013 annual meeting of shareholders, as filed with the SEC on April 12, 2013 and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. Information regarding the directors and executive officers of Teche is set forth in the definitive proxy statement for Teche’s 2014 annual meeting of shareholders, as filed with the SEC on December 30, 2013 and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. 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
	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Income Data (in thousands):
Net Interest Income	$	103,438		$	99,990			3	%	$	97,452			6	%
Net Interest Income (TE)⁽¹⁾		105,709			102,439			3	%		99,773			6	%
Net Income		25,604			23,208			10	%		23,192			10	%
Earnings Available to Common Shareholders - Basic		25,604			23,208			10	%		23,192			10	%
Earnings Available to Common Shareholders - Diluted		25,148			22,780			10	%		22,767			10	%

Per Share Data:
Earnings Available to Common Shareholders - Basic	$	0.86		$	0.79			9	%	$	0.78			10	%
Earnings Available to Common Shareholders - Diluted		0.86			0.79			9	%		0.78			10	%
Operating Earnings (Non-GAAP)		0.87			0.80			9	%		0.83			4	%
Book Value		51.40			51.88			(1	%)		51.30			0	%
Tangible Book Value ⁽²⁾		37.17			37.34			(0	%)		37.00			0	%
Cash Dividends		0.34			0.34			—			0.34			—
Closing Stock Price		62.85			49.12			28	%		51.91			21	%

Key Ratios: ⁽³⁾
Operating Ratios:
Return on Average Assets		0.77	%		0.73	%					0.71	%
Return on Average Common Equity		6.62	%		6.02	%					6.08	%
Return on Average Tangible Common Equity ⁽²⁾		9.43	%		8.62	%					8.74	%
Net Interest Margin (TE) ⁽¹⁾		3.52	%		3.55	%					3.37	%
Efficiency Ratio		72.2	%		75.5	%					76.9	%
Tangible Operating Efficiency Ratio (TE) (Non-GAAP) ^{(1) (2)}		69.9	%		72.5	%					73.0	%
Full-time Equivalent Employees		2,576			2,697						2,559

Capital Ratios:
Tangible Common Equity Ratio (Non-GAAP)		8.55	%		8.66	%					8.64	%
Tangible Common Equity to Risk-Weighted Assets		10.39	%		12.01	%					10.93	%
Tier 1 Leverage Ratio		9.70	%		9.70	%					9.65	%
Tier 1 Capital Ratio		11.57	%		12.92	%					12.02	%
Total Risk Based Capital Ratio		12.82	%		14.19	%					13.28	%
Common Stock Dividend Payout Ratio		39.6	%		43.2	%					43.6	%

Asset Quality Ratios:
Excluding FDIC Covered Assets and Acquired Assets
Nonperforming Assets to Total Assets ⁽⁴⁾		0.61	%		0.69	%					0.66	%
Allowance for Loan Losses to Loans		0.81	%		1.10	%					0.83	%
Net Charge-offs to Average Loans		0.07	%		0.01	%					0.02	%
Nonperforming Assets to Total Loans and OREO ⁽⁴⁾		0.88	%		1.12	%					0.98	%

	For The Quarter Ended						For The Quarter Ended
	December 31,						September 30,			June 30,			March 31,
	2013			2013			2013			2013			2013
	End of Period			Average			Average			Average			Average
Balance Sheet Summary (in thousands):
Excess Liquidity ⁽⁵⁾	$	152,724		$	204,970		$	213,092		$	294,544		$	629,406
Total Investment Securities		2,090,906			2,131,804			2,096,974			2,096,166			2,096,229
Loans, Net of Unearned Income		9,492,019			9,172,490			8,975,347			8,748,476			8,543,538
Loans, Net of Unearned Income, Excluding Covered Assets and Acquired Assets		8,288,321			7,936,271			7,616,272			7,262,803			6,922,784
Total Assets		13,365,550			13,115,171			12,944,435			12,881,551			13,075,008
Total Deposits		10,737,000			10,835,263			10,728,256			10,638,478			10,703,883
Total Shareholders’ Equity		1,530,979			1,535,043			1,514,155			1,528,606			1,531,068

⁽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)	December 31,									September 30,
	2013			2012			% Change			2013			% Change
ASSETS
Cash and Due From Banks	$	238,672		$	248,214			(3.8	%)	$	260,742			(8.5	%)
Interest-bearing Deposits in Banks		152,724			722,763			(78.9	%)		292,706			(47.8	%)

Total Cash and Equivalents		391,396			970,977			(59.7	%)		553,448			(29.3	%)
Investment Securities Available for Sale		1,936,797			1,745,004			11.0	%		1,964,389			(1.4	%)
Investment Securities Held to Maturity		154,109			205,062			(24.8	%)		155,678			(1.0	%)

Total Investment Securities		2,090,906			1,950,066			7.2	%		2,120,067			(1.4	%)
Mortgage Loans Held for Sale		128,442			267,475			(52.0	%)		108,285			18.6	%
Loans, Net of Unearned Income		9,492,019			8,498,580			11.7	%		9,043,037			5.0	%
Allowance for Loan Losses		(143,074	)		(251,603	)		(43.1	%)		(148,545	)		(3.7	%)

Loans, Net		9,348,945			8,246,977			13.4	%		8,894,492			5.1	%
Loss Share Receivable		162,312			423,069			(61.6	%)		204,885			(20.8	%)
Premises and Equipment		287,510			303,523			(5.3	%)		289,157			(0.6	%)
Goodwill and Other Intangibles		425,442			429,584			(1.0	%)		426,384			(0.2	%)
Other Assets		530,597			538,007			(1.4	%)		548,359			(3.2	%)

Total Assets	$	13,365,550		$	13,129,678			1.8	%	$	13,145,077			1.7	%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	2,575,939		$	1,967,662			30.9	%	$	2,529,296			1.8	%
NOW Accounts		2,283,490			2,523,252			(9.5	%)		2,136,624			6.9	%
Savings and Money Market Accounts		4,166,979			4,103,183			1.6	%		4,420,776			(5.7	%)
Certificates of Deposit		1,710,592			2,154,180			(20.6	%)		1,864,068			(8.2	%)

Total Deposits		10,737,000			10,748,277			(0.1	%)		10,950,764			(2.0	%)
Short-term Borrowings		375,000			—			100.0	%		—			100.0	%
Securities Sold Under Agreements to Repurchase		305,344			303,045			0.8	%		258,850			18.0	%
Trust Preferred Securities		111,862			111,862			—			111,862			—
Other Long-term Debt		168,837			311,515			(45.8	%)		169,239			(0.2	%)
Other Liabilities		136,528			125,111			9.1	%		129,094			5.8	%

Total Liabilities		11,834,571			11,599,810			2.0	%		11,619,809			1.8	%
Total Shareholders’ Equity		1,530,979			1,529,868			0.1	%		1,525,268			0.4	%

Total Liabilities and Shareholders’ Equity	$	13,365,550		$	13,129,678			1.8	%	$	13,145,077			1.7	%


BALANCE SHEET (Average)	December 31,			September 30,			June 30,			March 31,			December 31,
	2013			2013			2013			2013			2012
ASSETS
Cash and Due From Banks	$	225,527		$	219,113		$	219,344		$	220,746		$	212,404
Interest-bearing Deposits in Banks		204,970			213,092			294,544			629,406			432,752
Investment Securities		2,131,804			2,096,974			2,096,166			2,096,229			1,957,542
Mortgage Loans Held for Sale		112,499			119,343			170,620			178,387			212,432
Loans, Net of Unearned Income		9,172,490			8,975,347			8,748,476			8,543,538			8,384,218
Allowance for Loan Losses		(148,030	)		(160,994	)		(183,783	)		(245,384	)		(196,634	)
Loss Share Receivable		188,932			228,047			268,700			384,319			411,328
Other Assets		1,226,979			1,253,513			1,267,484			1,267,767			1,278,623

Total Assets	$	13,115,171		$	12,944,435		$	12,881,551		$	13,075,008		$	12,692,665

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing Deposits	$	2,572,599		$	2,338,772		$	2,010,263		$	1,937,890		$	1,928,361
NOW Accounts		2,145,036			2,257,050			2,488,721			2,464,922			2,207,032
Savings and Money Market Accounts		4,329,985			4,213,765			4,113,671			4,170,123			3,935,675
Certificates of Deposit		1,787,643			1,918,669			2,025,823			2,130,948			2,244,876

Total Deposits		10,835,263			10,728,256			10,638,478			10,703,883			10,315,944
Short-term Borrowings		49,946			1,630			77			500			9,239
Securities Sold Under Agreements to Repurchase		285,745			288,029			294,712			292,448			262,027
Trust Preferred Securities		111,862			111,862			111,862			111,862			111,862
Long-term Debt		169,063			170,452			181,884			300,071			312,190
Other Liabilities		128,249			130,052			125,932			135,176			147,842

Total Liabilities		11,580,128			11,430,280			11,352,945			11,543,940			11,159,104
Total Shareholders’ Equity		1,535,043			1,514,155			1,528,606			1,531,068			1,533,561

Total Liabilities and Shareholders’ Equity	$	13,115,171		$	12,944,435		$	12,881,551		$	13,075,008		$	12,692,665

Table 3 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands except per share data)


	For The Three Months Ended
INCOME STATEMENT	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Interest Income	$	114,092		$	114,779			(0.6	%)	$	108,512			5.1	%
Interest Expense		10,654			14,789			(28.0	%)		11,060			(3.7	%)

Net Interest Income		103,438			99,990			3.4	%		97,452			6.1	%
Provision for Loan Losses		4,700			4,866			(3.4	%)		2,014			133.3	%

Net Interest Income After Provision for Loan Losses		98,738			95,124			3.8	%		95,438			3.5	%
Service Charges		7,455			7,295			2.2	%		7,512			(0.8	%)
ATM / Debit Card Fee Income		2,493			2,412			3.4	%		2,476			0.7	%
BOLI Proceeds and Cash Surrender Value Income		900			909			(0.9	%)		908			(0.8	%)
Mortgage Income		12,356			22,935			(46.1	%)		15,202			(18.7	%)
Gain (Loss) on Sale of Investments, Net		19			(4	)		566.4	%		13			42.2	%
Title Revenue		4,327			5,492			(21.2	%)		5,482			(21.1	%)
Broker Commissions		4,986			4,192			18.9	%		3,950			26.2	%
Other Noninterest Income		6,179			7,123			(13.2	%)		7,720			(20.0	%)

Total Noninterest Income		38,715			50,354			(23.1	%)		43,263			(10.5	%)
Salaries and Employee Benefits		59,403			60,899			(2.5	%)		59,234			0.3	%
Occupancy and Equipment		13,986			15,176			(7.8	%)		14,572			(4.0	%)
Amortization of Acquisition Intangibles		1,177			1,285			(8.4	%)		1,179			(0.2	%)
Other Noninterest Expense		28,108			36,081			(22.1	%)		33,166			(15.3	%)

Total Noninterest Expense		102,674			113,441			(9.5	%)		108,152			(5.1	%)
Income Before Income Taxes		34,779			32,037			8.6	%		30,549			13.8	%
Income Taxes		9,175			8,829			3.9	%		7,357			24.7	%

Net Income	$	25,604		$	23,208			10.3	%	$	23,192			10.4	%

Preferred Stock Dividends		—			—			—			—			—

Earnings Available to Common Shareholders - Basic		25,604			23,208			10.3	%		23,192			10.4	%

Earnings Allocated to Unvested Restricted Stock		(456	)		(428	)		6.5	%		(425	)		7.3	%

Earnings Available to Common Shareholders - Diluted	$	25,148		$	22,780			10.4	%	$	22,767			10.5	%

Earnings Per Share, Diluted	$	0.86		$	0.79			9.1	%	$	0.78			10.1	%

Impact of Non-Operating Expenses (Non-GAAP)	$	0.01		$	0.01			(27.1	%)	$	0.05			(89.1	%)

Earnings Per Share, Diluted, Excluding Non-operating Expenses (Non-GAAP)	$	0.87		$	0.80			8.5	%	$	0.83			4.1	%


NUMBER OF SHARES OUTSTANDING
Basic Shares - All Classes (Average)		29,673,358			29,401,395			0.9	%		29,631,799			0.1	%
Diluted Shares - Common Shareholders (Average)		29,236,174			28,904,317			1.1	%		29,147,232			0.3	%
Book Value Shares (Period End) ⁽¹⁾		29,786,544			29,489,745			1.0	%		29,734,459			0.2	%

	2013												2012
INCOME STATEMENT	Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Fourth Quarter
Interest Income	$	114,092		$	108,512		$	108,177		$	106,416		$	114,779
Interest Expense		10,654			11,060			11,695			13,545			14,789

Net Interest Income		103,438			97,452			96,482			92,871			99,990
(Reversal of) Provision for Loan Losses		4,700			2,014			1,807			(3,377	)		4,866

Net Interest Income After (Reversal of) Provision for Loan Losses		98,738			95,438			94,675			96,248			95,124
Total Noninterest Income		38,715			43,263			42,489			44,491			50,354
Total Noninterest Expense		102,674			108,152			117,361			144,898			113,441

Income (Loss) Before Income Taxes		34,779			30,549			19,803			(4,159	)		32,037
Income Taxes		9,175			7,357			4,213			(4,876	)		8,829

Net Income	$	25,604		$	23,192		$	15,590		$	717		$	23,208

Preferred Stock Dividends		—			—			—			—			—

Earnings Available to Common Shareholders - Basic		25,604			23,192			15,590			717			23,208

Earnings Allocated to Unvested Restricted Stock		(456	)		(425	)		(293	)		(20	)		(428	)

Earnings Available to Common Shareholders - Diluted	$	25,148		$	22,767		$	15,297		$	697		$	22,780

Earnings Per Share, Basic	$	0.86		$	0.78		$	0.53		$	0.02		$	0.79

Earnings Per Share, Diluted	$	0.86		$	0.78		$	0.53		$	0.02		$	0.79

Book Value Per Common Share	$	51.40		$	51.30		$	50.65		$	51.33		$	51.88
Tangible Book Value Per Common Share	$	37.17		$	37.00		$	36.30		$	36.93		$	37.34
Return on Average Assets		0.77	%		0.71	%		0.49	%		0.02	%		0.73	%
Return on Average Common Equity		6.62	%		6.08	%		4.09	%		0.19	%		6.02	%
Return on Average Tangible Common Equity		9.43	%		8.74	%		5.96	%		0.55	%		8.62	%

(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 Year Ended
INCOME STATEMENT	December 31,
	2013			2012			% Change
Interest Income	$	437,197		$	445,200			(1.8	%)
Interest Expense		46,953			63,450			(26.0	%)

Net Interest Income		390,244			381,750			2.2	%
Provision for Loan Losses		5,145			20,671			(75.1	%)

Net Interest Income After Provision for Loan Losses		385,099			361,079			6.7	%
Service Charges		28,871			26,852			7.5	%
ATM / Debit Card Fee Income		9,510			8,978			5.9	%
BOLI Proceeds and Cash Surrender Value Income		3,647			3,680			(0.9	%)
Mortgage Income		64,197			78,053			(17.8	%)
Gain on Sale of Investments, net		2,334			3,775			(38.2	%)
Title Revenue		20,526			20,987			(2.2	%)
Broker Commissions		16,333			13,446			21.5	%
Other Noninterest Income		23,540			20,226			16.4	%

Total Noninterest Income		168,958			175,997			(4.0	%)
Salaries and Employee Benefits		244,981			233,777			4.8	%
Occupancy and Equipment		58,037			54,672			6.2	%
Amortization of Acquisition Intangibles		4,720			5,150			(8.3	%)
Other Noninterest Expense		165,347			138,586			19.3	%

Total Noninterest Expense		473,085			432,185			9.5	%
Income Before Income Taxes		80,972			104,891			(22.8	%)
Income Taxes		15,869			28,496			(44.3	%)

Net Income	$	65,103		$	76,395			(14.8	%)

Preferred Stock Dividends		—			—			—

Earnings Available to Common Shareholders - Basic	$	65,103		$	76,395			(14.8	%)

Earnings Allocated to Unvested Restricted Stock		(1,209	)		(1,433	)		(15.6	%)

Earnings Available to Common Shareholders - Diluted		63,894			74,962			(14.8	%)

Earnings Per Share, diluted	$	2.20		$	2.59			(15.4	%)

Table 5 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


LOANS	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Residential Mortgage Loans	$	586,532		$	477,204			22.9	%	$	563,455			4.1	%
Commercial Loans:
Real Estate		3,867,305			3,631,543			6.5	%		3,779,839			2.3	%
Business		2,996,113			2,537,718			18.1	%		2,684,243			11.6	%

Total Commercial Loans		6,863,418			6,169,261			11.3	%		6,464,082			6.2	%
Consumer Loans:
Indirect Automobile		375,236			327,985			14.4	%		369,755			1.5	%
Home Equity		1,291,792			1,251,125			3.3	%		1,281,015			0.8	%
Automobile		92,784			60,240			54.0	%		87,342			6.2	%
Credit Card Loans		64,321			52,628			22.2	%		60,637			6.1	%
Other		217,936			160,136			36.1	%		216,751			0.5	%

Total Consumer Loans		2,042,069			1,852,114			10.3	%		2,015,500			1.3	%

Total Loans		9,492,019			8,498,579			11.7	%		9,043,037			5.0	%

Allowance for Loan Losses		(143,074	)		(251,603	)					(148,545	)

Loans, Net	$	9,348,945		$	8,246,976					$	8,894,492

Reserve for Unfunded Commitments ⁽¹⁾		(11,147	)		—			N/M			(11,959	)		(6.8	%)
Allowance for Credit Losses		(154,221	)		(251,603	)		(38.7	%)		(160,503	)		(3.9	%)

ASSET QUALITY DATA ⁽²⁾	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Nonaccrual Loans	$	270,428		$	540,867			(50.0	%)	$	341,691			(20.9	%)
Foreclosed Assets		1,421			1,473			(3.5	%)		1,592			(10.8	%)
Other Real Estate Owned		97,752			120,063			(18.6	%)		127,395			(23.3	%)
Accruing Loans More Than 90 Days Past Due		2,194			4,404			(50.2	%)		10,844			(79.8	%)

Total Nonperforming Assets	$	371,795		$	666,807			(44.2	%)	$	481,522			(22.8	%)

Loans 30-89 Days Past Due	$	40,918		$	47,899			(14.6	%)	$	26,445			54.7	%
Nonperforming Assets to Total Assets		2.78	%		5.08	%		(45.2	%)		3.66	%		(24.1	%)
Nonperforming Assets to Total Loans and OREO		3.88	%		7.74	%		(49.9	%)		5.25	%		(26.2	%)
Allowance for Loan Losses to Nonperforming Loans ⁽³⁾		52.5	%		46.1	%		13.7	%		42.1	%		24.6	%
Allowance for Loan Losses to Nonperforming Assets		38.5	%		37.7	%		2.0	%		30.8	%		24.7	%
Allowance for Loan Losses to Total Loans		1.51	%		2.96	%		(49.1	%)		1.64	%		(8.2	%)
Allowance for Credit Losses to Nonperforming Loans ^{(1) (3)}		56.6	%		46.1	%		22.6	%		45.5	%		24.3	%
Allowance for Credit Losses to Nonperforming Assets ⁽¹⁾		41.5	%		37.7	%		9.9	%		33.3	%		24.4	%
Allowance for Credit Losses to Total Loans ⁽¹⁾		1.62	%		2.96	%		(45.1	%)		1.77	%		(8.5	%)
Year to Date Charge-offs	$	10,845		$	10,101			7.4	%	$	6,938			N/M
Year to Date Recoveries		(6,887	)		(5,277	)		30.5	%		(4,353	)		N/M

Year to Date Net Charge-offs (Recoveries)	$	3,958		$	4,824			(17.9	%)	$	2,585			N/M

Quarter to Date Net Charge-offs (Recoveries)	$	1,373		$	89			N/M		$	239			475.5	%

Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.06	%		0.00	%		N/M			0.01	%		463.2	%
Year to Date Net Charge-offs to Average Loans		0.04	%		0.06	%		(27.4	%)

⁽¹⁾	During the second quarter of 2013, the Company segregated its allowance for credit losses into an allowance for loan losses and a reserve for unfunded commitments, which is included in other liabilities on its balance sheet.

⁽²⁾	For purposes of this table, nonperforming assets include all loans meeting nonperforming asset criteria, including assets acquired in FDIC-assisted transactions.

⁽³⁾	Nonperforming 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 6 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(dollars in thousands)


LOANS (Excluding Covered Assets and Acquired Assets)⁽¹⁾	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Residential Mortgage Loans	$	414,372		$	257,283			61.1	%	$	389,912			6.3	%
Commercial Loans:
Real Estate		3,134,904			2,545,320			23.2	%		2,951,465			6.2	%
Business		2,906,051			2,367,434			22.8	%		2,589,405			12.2	%

Total Commercial Loans		6,040,955			4,912,754			23.0	%		5,540,870			9.0	%
Consumer Loans:
Indirect Automobile		373,383			322,966			15.6	%		367,308			1.7	%
Home Equity		1,101,227			1,000,639			10.1	%		1,072,671			2.7	%
Automobile		92,171			59,834			54.0	%		86,680			6.3	%
Credit Card Loans		63,642			51,722			23.0	%		59,936			6.2	%
Other		202,571			142,307			42.3	%		202,196			0.2	%

Total Consumer Loans		1,832,994			1,577,468			16.2	%		1,788,791			2.5	%

Total Loans		8,288,321			6,747,505			22.8	%		7,719,572			7.4	%

Allowance for Loan Losses		(67,343	)		(74,211	)					(64,165	)

Loans, Net	$	8,220,978		$	6,673,294					$	7,655,407

Reserve for Unfunded Commitments ⁽²⁾		(11,107	)		—			N/M			(11,959	)		(7.1	%)
Allowance for Credit Losses		(78,450	)		(74,211	)		5.7	%		(76,124	)		3.1	%

ASSET QUALITY DATA (Excluding Covered Assets and Acquired Assets)⁽¹⁾	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Nonaccrual Loans	$	43,687		$	47,916			(8.8	%)	$	43,838			(0.3	%)
Foreclosed Assets		48			14			255.1	%		42			16.2	%
Other Real Estate Owned		28,224			26,366			7.0	%		30,565			(7.7	%)
Accruing Loans More Than 90 Days Past Due		1,075			1,371			(21.6	%)		1,418			(24.2	%)

Total Nonperforming Assets	$	73,034		$	75,667			(3.5	%)	$	75,863			(3.7	%)

Loans 30-89 Days Past Due	$	21,391		$	12,796			67.2	%	$	12,406			72.4	%

Troubled Debt Restructurings ⁽³⁾		19,877			17,710			12.2	%		19,941			(0.3	%)
Current Troubled Debt Restructurings ⁽⁴⁾		1,376			2,354			(41.5	%)		1,468			(6.2	%)

Nonperforming Assets to Total Assets		0.61	%		0.69	%		(11.2	%)		0.66	%		(7.2	%)
Nonperforming Assets to Total Loans and OREO		0.88	%		1.12	%		(21.4	%)		0.98	%		(10.3	%)
Allowance for Loan Losses to Nonperforming Loans ⁽⁵⁾		150.4	%		150.6	%		(0.1	%)		141.8	%		6.1	%
Allowance for Loan Losses to Nonperforming Assets		92.2	%		98.1	%		(6.0	%)		84.6	%		9.0	%
Allowance for Loan Losses to Total Loans		0.81	%		1.10	%		(26.1	%)		0.83	%		(2.2	%)
Allowance for Credit Losses to Nonperforming Loans ^{(1) (5)}		175.3	%		150.6	%		16.4	%		168.2	%		4.2	%
Allowance for Credit Losses to Nonperforming Assets ⁽¹⁾		107.4	%		98.1	%		9.5	%		100.3	%		7.0	%
Allowance for Credit Losses to Total Loans ⁽¹⁾		0.95	%		1.10	%		(13.9	%)		0.99	%		(4.0	%)

Year to Date Charge-offs	$	10,687		$	9,731			9.8	%	$	6,785			N/M
Year to Date Recoveries		(6,819	)		(5,277	)		29.2	%		(4,283	)		N/M

Year to Date Net Charge-offs (Recoveries)	$	3,868		$	4,454			(13.2	%)	$	2,502			N/M

Quarter to Date Net Charge-offs (Recoveries)	$	1,366		$	90			N/M		$	303			351.6	%

Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.07	%		0.01	%		N/M			0.02	%		308.7	%
Year to Date Net Charge-offs to Average Loans		0.05	%		0.07	%		(29.6	%)

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

⁽²⁾	During the second quarter of 2013, the Company segregated its allowance for credit losses into an allowance for loan losses and a reserve for unfunded commitments, which is included in other liabilities on its balance sheet.

⁽³⁾	Troubled debt restructurings meeting past due and nonaccruing criteria are included in loans past due and nonaccrual loans above.

⁽⁴⁾	Current troubled debt restructurings are defined as troubled debt restructurings not past due or on nonaccrual status for the respective periods.

⁽⁵⁾	Nonperforming 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⁾	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Residential Mortgage Loans	$	172,160		$	219,921			(21.7	%)	$	173,543			(0.8	%)
Commercial Loans:
Real Estate		732,401			1,086,223			(32.6	%)		828,374			(11.6	%)
Business		90,062			170,284			(47.1	%)		94,838			(5.0	%)

Total Commercial Loans		822,463			1,256,507			(34.5	%)		923,212			(10.9	%)
Consumer Loans:
Indirect Automobile		1,853			5,019			(63.1	%)		2,447			(24.3	%)
Home Equity		190,565			250,486			(23.9	%)		208,344			(8.5	%)
Automobile		613			406			51.0	%		662			(7.4	%)
Credit Card Loans		679			906			(25.0	%)		701			(3.2	%)
Other		15,365			17,828			(13.8	%)		14,555			5.6	%

Total Consumer Loans		209,075			274,645			(23.9	%)		226,709			(7.8	%)

Total Loans Receivable		1,203,698			1,751,073			(31.3	%)		1,323,464			(9.0	%)

Allowance for Loan Losses		(75,731	)		(177,392	)					(84,380	)

Loans, Net	$	1,127,967		$	1,573,681					$	1,239,084


ASSET QUALITY DATA (Covered Assets and Acquired Assets Only) ⁽¹⁾	December 31,									September 30,
	2013			2012			% Change			2013			% Change
Nonaccrual Loans	$	226,741		$	492,951			(54.0	%)	$	297,853			(23.9	%)
Foreclosed Assets		1,372			1,459			(6.0	%)		1,550			(11.5	%)
Other Real Estate Owned		69,528			93,697			(25.8	%)		96,830			(28.2	%)
Accruing Loans More Than 90 Days Past Due		1,119			3,033			(63.1	%)		9,426			(88.1	%)

Total Nonperforming Assets	$	298,760		$	591,140			(49.5	%)	$	405,659			(26.4	%)

Loans 30-89 Days Past Due		19,527			35,103			(44.4	%)		14,039			39.1	%

Nonperforming Assets to Total Assets		21.27	%		27.81	%		(23.5	%)		25.19	%		(15.6	%)
Nonperforming Assets to Total Loans and OREO		23.44	%		32.02	%		(26.8	%)		28.53	%		(17.8	%)
Allowance for Loan Losses to Nonperforming Loans ⁽²⁾		33.2	%		35.8	%		(7.1	%)		27.5	%		21.0	%
Allowance for Loan Losses to Nonperforming Assets		25.3	%		30.0	%		(15.5	%)		20.8	%		21.9	%
Allowance for Loan Losses to Total Loans		6.29	%		10.13	%		(37.9	%)		6.38	%		(1.3	%)

Year to Date Charge-offs	$	158		$	370			(57.4	%)	$	153			N/M
Year to Date Recoveries		(68	)		(0	)		N/M			(70	)		N/M

Year to Date Net Charge-offs (Recoveries)	$	90		$	370			(75.7	%)	$	83			N/M

Quarter to Date Net Charge-offs (Recoveries)	$	7		$	(1	)		N/M		$	(64	)		110.2	%

Quarter to Date Net Charge-offs to Average Loans (Annualized)		0.00	%		0.00	%		N/M			-0.02	%		111.2	%
Year to Date Net Charge-offs to Average Loans		0.01	%		0.02	%		(69.0	%)

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

⁽²⁾	Nonperforming 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 7 - Non-Covered and Net Covered Loan Portfolio Volumes And Yields ($ in Millions)


	4Q 2012					1Q 2013					2Q 2013					3Q 2013					4Q 2013
	Average Balance		Yield			Average Balance		Yield			Average Balance		Yield			Average Balance		Yield			Average Balance		Yield
Non Covered Loans, net	$	7,272		4.52	%	$	7,504		4.44	%	$	7,794		4.40	%	$	8,104		4.39	%	$	8,421		4.43	%

FDIC Covered Loans, net	$	1,112		17.53	%	$	1,039		16.05	%	$	955		12.62	%	$	872		13.90	%	$	751		19.46	%

Covered Loans, net of Indemnification Asset Amortization	$	1,523		7.68	%	$	1,424		5.35	%	$	1,223		5.11	%	$	1,100		3.66	%	$	940		4.28	%

Table 8 - IBERIABANK CORPORATION

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Taxable Equivalent Basis

(dollars in thousands)


	For The Quarter Ended
	December 31, 2013									September 30, 2013						December 31, 2012
	Interest			Average Balance			Average Yield/Rate (%)			Average Balance			Average Yield/Rate (%)			Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	8,730		$	570,480			6.12	%	$	545,017			5.05	%	$	433,164			7.70	%
Commercial Loans (TE) ⁽¹⁾		92,032			6,570,033			5.57	%		6,443,410			5.49	%		6,101,343			6.13	%
Consumer and Other Loans		29,830			2,031,977			5.82	%		1,986,920			4.84	%		1,849,711			6.28	%

Total Loans		130,592			9,172,490			5.66	%		8,975,347			5.32	%		8,384,218			6.25	%
Loss Share Receivable		(29,142	)		188,932			-60.36	%		228,047			-39.25	%		411,328			-26.83	%

Total Loans and Loss Share Receivable		101,450			9,361,422			4.33	%		9,203,394			4.21	%		8,795,546			4.70	%
Mortgage Loans Held for Sale		1,143			112,499			4.06	%		119,343			4.32	%		212,432			2.96	%
Investment Securities (TE) ⁽¹⁾⁽²⁾		10,907			2,129,679			2.21	%		2,093,549			1.98	%		1,896,092			2.09	%
Other Earning Assets		592			250,295			0.94	%		258,362			0.89	%		486,544			0.61	%

Total Earning Assets		114,092			11,853,895			3.87	%		11,674,648			3.74	%		11,390,614			4.06	%
Allowance for Loan Losses					(148,030	)					(160,994	)					(196,634	)
Nonearning Assets					1,409,306						1,430,781						1,498,685

Total Assets				$	13,115,171					$	12,944,435					$	12,692,665


LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	1,720		$	2,145,036			0.32	%	$	2,257,050			0.34	%	$	2,207,032			0.34	%
Savings and Money Market Accounts		2,821			4,329,985			0.26	%		4,213,764			0.25	%		3,935,675			0.43	%
Certificates of Deposit		3,566			1,787,643			0.79	%		1,918,669			0.83	%		2,244,876			0.90	%

Total Interest-bearing Deposits		8,107			8,262,664			0.39	%		8,389,483			0.40	%		8,387,583			0.53	%
Short-term Borrowings		125			335,691			0.15	%		289,659			0.14	%		271,266			0.21	%
Long-term Debt		2,422			280,925			3.37	%		282,314			3.37	%		424,052			3.17	%

Total Interest-bearing Liabilities		10,654			8,879,280			0.47	%		8,961,456			0.49	%		9,082,901			0.65	%
Noninterest-bearing Demand Deposits					2,572,599						2,338,772						1,928,361
Noninterest-bearing Liabilities					128,249						130,052						147,842

Total Liabilities					11,580,128						11,430,280						11,159,104
Shareholders’ Equity					1,535,043						1,514,155						1,533,561

Total Liabilities and Shareholders’ Equity				$	13,115,171					$	12,944,435					$	12,692,665

Net Interest Spread				$	103,438			3.40	%	$	97,452			3.25	%	$	99,990			3.41	%
Tax-equivalent Benefit					2,271			0.08	%		2,321			0.08	%		2,449			0.08	%
Net Interest Income (TE) / Net Interest Margin (TE) ⁽¹⁾				$	105,709			3.52	%	$	99,773			3.37	%	$	102,439			3.55	%

⁽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 Year Ended
	December 31, 2013									December 31, 2012
	Interest			Average Balance			Average Yield/Rate (%)			Interest			Average Balance			Average Yield/Rate (%)
ASSETS
Earning Assets:
Loans Receivable:
Mortgage Loans	$	30,598		$	520,872			5.87	%	$	33,247		$	442,088			7.52	%
Commercial Loans (TE) ⁽¹⁾		350,451			6,386,364			5.50	%		373,497			5,703,163			6.54	%
Consumer and Other Loans		107,887			1,954,766			5.52	%		107,192			1,700,427			6.30	%

Total Loans		488,936			8,862,002			5.53	%		513,936			7,845,678			6.54	%
Loss Share Receivable		(97,849	)		266,856			-36.16	%		(118,100	)		485,270			-23.94	%

Total Loans and Loss Share Receivable		391,087			9,128,858			4.31	%		395,836			8,330,948			4.77	%
Mortgage Loans Held for Sale		5,108			144,961			3.52	%		5,318			162,053			3.28	%
Investment Securities (TE) ⁽¹⁾⁽²⁾		38,230			2,081,523			2.01	%		41,265			1,959,754			2.31	%
Other Earning Assets		2,772			380,050			0.73	%		2,781			379,660			0.73	%

Total Earning Assets		437,197			11,735,392			3.78	%		445,200			10,832,415			4.16	%
Allowance for Loan Losses					(184,217	)								(184,127	)
Nonearning Assets					1,452,813									1,448,684

Total Assets				$	13,003,988								$	12,096,972

LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities
Deposits:
NOW Accounts	$	7,557		$	2,337,831			0.32	%	$	7,475		$	2,035,544			0.37	%
Savings and Money Market Accounts		11,685			4,207,343			0.28	%		17,034			3,661,697			0.47	%
Certificates of Deposit		16,604			1,964,702			0.85	%		24,855			2,302,081			1.08	%

Total Interest-bearing Deposits		35,846			8,509,876			0.42	%		49,364			7,999,322			0.62	%
Short-term Borrowings		490			303,352			0.16	%		650			284,201			0.22	%
Long-term Debt		10,617			316,775			3.31	%		13,436			431,133			3.07	%

Total Interest-bearing Liabilities		46,953			9,130,003			0.51	%		63,450			8,714,656			0.73	%
Noninterest-bearing Demand Deposits					2,216,959									1,718,849
Noninterest-bearing Liabilities					129,833									149,950

Total Liabilities					11,476,795									10,583,455
Shareholders’ Equity					1,527,193									1,513,517

Total Liabilities and Shareholders’ Equity				$	13,003,988								$	12,096,972

Net Interest Spread				$	390,244			3.26	%				$	381,750			3.43	%
Tax-equivalent Benefit					9,452			0.08	%					9,659			0.09	%
Net Interest Income (TE) / Net Interest Margin (TE) ⁽¹⁾				$	399,696			3.38	%				$	391,409			3.58	%

⁽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
	December 31, 2013			September 30, 2013			December 31, 2012
Net Interest Income (GAAP)	$	103,438		$	97,452		$	99,990
Effect of Tax Benefit on Interest Income		2,271			2,321			2,449

Net Interest Income (TE) (Non-GAAP) ⁽¹⁾		105,709			99,773			102,439

Noninterest Income (GAAP)		38,715			43,263			50,354
Effect of Tax Benefit on Noninterest Income		485			489			489

Noninterest Income (TE) (Non-GAAP) ⁽¹⁾		39,200			43,752			50,843

Taxable Equivalent Revenues (Non-GAAP) ⁽¹⁾		144,909			143,525			153,282

Securities Losses (Gains)		(19	)		(13	)		4
Other noninterest income		—			—			(2,196	)

Taxable Equivalent Operating Revenues (Non-GAAP) ⁽¹⁾	$	144,890		$	143,512		$	151,090

Total Noninterest Expense (GAAP)	$	102,674		$	108,152		$	113,441
Less Intangible Amortization Expense		(1,177	)		(1,179	)		(1,285	)

Tangible Noninterest Expense (Non-GAAP) ⁽²⁾		101,497			106,973			112,156

Merger-related expenses		566			85			1,183
Severance expenses		216			554			370
Occupancy expenses and branch closure expenses		—			594			711
(Gain) Loss on sale of long-lived assets, net of impairment		(225	)		977			—
Provision for FDIC clawback liability		—			667			—
Debt prepayment		—			—			—
Termination of debit card rewards program		(311	)		—			—
Professional expenses and litigation settlements		—			(630	)		339

Tangible Operating Noninterest Expense (Non-GAAP) ⁽²⁾	$	101,251		$	104,725		$	109,553

Return on Average Common Equity (GAAP)		6.62	%		6.08	%		6.02	%
Effect of Intangibles ⁽²⁾		2.81	%		2.66	%		2.60	%
Effect of Non Operating Revenues and Expenses		0.05	%		0.52	%		0.09	%

Operating Return on Average Tangible Common Equity (Non-GAAP) ⁽²⁾		9.47	%		9.26	%		8.71	%

Efficiency Ratio (GAAP)		72.2	%		76.9	%		75.5	%
Effect of Tax Benefit Related to Tax Exempt Income		(1.3	%)		(1.5	%)		(1.5	%)

Efficiency Ratio (TE) (Non-GAAP) ⁽¹⁾		70.9	%		75.4	%		74.0	%
Effect of Amortization of Intangibles		(0.8	%)		(0.9	%)		(0.8	%)
Effect of Non-Operating Items		(0.2	%)		(1.6	%)		(0.7	%)

Tangible Operating Efficiency Ratio (TE)(Non-GAAP) ^{(1) (2)}		69.9	%		73.0	%		72.5	%

⁽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
	December 31, 2013									September 30, 2013									December 31, 2012
	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)	$	34,779		$	25,604		$	0.86		$	30,549		$	23,192		$	0.78		$	32,037		$	23,208		$	0.79
Noninterest income adjustments
Loss (Gain) on sale of investments		(19	)		(12	)		(0.00	)		(13	)		(8	)		0.00			4			3			—
Other noninterest income		—			—			—			—			—			—			(2,196	)		(1,427	)		(0.05	)
Noninterest expense adjustments
Merger-related expenses		566			368			0.01			85			55			0.00			1,183			769			0.03
Severance expenses		216			141			0.00			554			360			0.01			370			241			0.01
(Gain) Loss on sale of long-lived assets, net of impairment		(225	)		(146	)		(0.00	)		977			635			0.02			—			—			—
Provision for FDIC clawback liability		—			—			—			667			434			0.01			—			—			—
Occupancy expenses and branch closure expenses		—			—			—			594			386			0.01			711			462			0.02
Termination of debit card rewards program		(311	)		(202	)		(0.01	)		—			—			—			—			—			—
Professional expenses and litigation settlements		—			—			—			(630	)		(410	)		(0.01	)		339			220			0.01

Operating earnings (Non-GAAP) ⁽³⁾		35,006			25,753			0.87			32,783			24,644			0.83			32,448			23,476			0.80
Covered and acquired (reversal of) provision for loan losses		79			51			0.00			(854	)		(555	)		(0.02	)		7,581			4,928			0.17
Other (reversal of) provision for loan losses		4,621			3,004			0.10			2,868			1,864			0.07			(2,715	)		(1,765	)		(0.06	)

Pre-provision operating earnings (Non-GAAP) ⁽³⁾	$	39,706		$	28,808		$	0.97		$	34,797		$	25,953		$	0.89		$	37,314		$	26,639		$	0.91

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

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

(3)	Includes the impact of the adoption of ASU 2012-06 in the three-month periods ending December 31, 2013 and September 30, 2013.

Table 12 - IBERIABANK CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES⁽¹⁾

(dollars in thousands)


	For The Year Ended
	December 31, 2013									December 31, 2012
	Dollar Amount									Dollar Amount
	Pre-tax			After-tax ⁽²⁾			Per share			Pre-tax			After-tax ⁽²⁾			Per share
Net Income (Loss) (GAAP)	$	80,972		$	65,103		$	2.20		$	104,891		$	76,395		$	2.59
Noninterest income adjustments
Loss (Gain) on sale of investments		(2,334	)		(1,517	)		(0.05	)		(3,775	)		(2,453	)		(0.08	)
Other noninterest income		—			—			—			(2,196	)		(1,427	)		(0.05	)
Noninterest expense adjustments
Merger-related expenses		783			509			0.02			5,123			3,330			0.10
Severance expenses		2,538			1,649			0.05			2,355			1,530			0.05
(Gain) Loss on sale of long-lived assets, net of impairment		37,183			24,169			0.81			2,902			1,886			0.05
Provision for FDIC clawback liability		797			518			0.02			—			—			—
Debt prepayment		2,307			1,500			0.05			—			—			—
Occupancy expenses and branch closure expenses		1,275			829			0.03			836			543			0.02
Termination of debit card rewards program		139			90			0.00			—			—			—
Professional expenses and litigation settlements		(480	)		(312	)		(0.01	)		2,795			1,816			0.06

Operating earnings (Non-GAAP) ⁽³⁾		123,180			92,538			3.12			112,931			81,621			2.74
Covered and acquired (reversal of) provision for loan losses		(786	)		(511	)		(0.02	)		16,867			10,964			0.37
Other (reversal of) provision for loan losses		5,932			3,856			0.13			3,804			2,472			0.08

Pre-provision operating earnings (Non-GAAP) ⁽³⁾	$	128,326		$	95,883		$	3.23		$	133,602		$	95,057		$	3.19

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

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

(3)	Includes the impact of the adoption of ASU 2012-06 in the year ending December 31, 2013

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4Q13 Earnings Conference Call

Supplemental Presentation

January 28, 2014

iBERIABANK Corporation TM

LOGO

Safe Harbor Language

Statements contained in this presentation which are not historical facts and which pertain to future operating results of IBERIABANK Corporation and its subsidiaries constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform

Act of 1995. These forward-looking statements involve significant risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in IBERIABANK Corporation’s periodic filings with the SEC.

In connection with the proposed merger, IBERIABANK Corporation will 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 WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the proxy statement / prospectus (when it is available) and other documents containing information about IBERIABANK Corporation and

Teche Holding Company, 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 Teche Holding Company common stock, nor is it an offer to sell shares of IBERIABANK Corporation common stock which may be issued in any proposed merger with Teche Holding Company. The issuance of IBERIABANK Corporation common stock in any proposed merger with Teche Holding Company 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.

2 2

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Overview

Introductory Comments

Operating EPS of $0.87 driven by higher net interest income, improvement in operating expenses and continued strong organic loan growth

Legacy loan growth:

$568 million since September 30, 2013 (+29% annualized)

$1.5 billion since year-end 2012 (+23%)

Core deposit growth:

($60) million since September 31, 2013 (-3% annualized)

$0.4 billion since year-end 2012 (+5%)

Net interest margin increased 15 bps to 3.52%

13 bps increase in the earning asset yield

2 bps decline in total cost of deposits

Tax equivalent net interest income increased $5.9 million, or 6%, while average earning assets increased $179 million, or 2%

$4.7 million provision for loan losses with $1.4 million in net charge-offs in 4Q13

Total operating expenses declined $3 million to $102 million in 4Q13 (down 3%)

Tangible efficiency ratio on an operating basis declined to 69.9%

Seasonally slower Mortgage and Title income, but strong Capital Markets results

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Overview

Performance Metrics – Quarterly Trends

For Quarter Ended:

Linked Quarter %/Basis Point

12/31/2012 3/31/2013 6/30/2013 9/30/2013 12/31/2013 Change

Net Income ($ in thousands) $ 23,208 $ 717 $ 15,590 $ 23,192 $ 25,604 10%

Per Share Data:

Fully Diluted Earnings $ 0.79 $ 0.02 $ 0.53 $ 0.78 $ 0.86 10%

Operating Earnings (Non-GAAP) 0.80 0.74 0.69 0.83 0.87 4%

Pre-provision Operating Earnings (Non-GAAP) 0.91 0.66 0.73 0.89 0.97 9%

Tangible Book Value 37.34 36.93 36.30 37.00 37.17 0%

Key Ratios:

Return on Average Assets 0.73% 0.02% 0.49% 0.71% 0.77% 6 bps

Return on Average Common Equity 6.02% 0.19% 4.09% 6.08% 6.62% 54 bps

Return on Average Tangible Common Equity (Non-GAAP) 8.62% 0.55% 5.96% 8.74% 9.43% 69 bps

Net Interest Margin (TE) (1) 3.55% 3.23% 3.39% 3.37% 3.52% 15 bps

Tangible Operating Efficiency Ratio (TE) (1) (Non-GAAP) 72.5% 79.0% 76.8% 73.0% 69.9% (310) bps

Tangible Common Equity Ratio (Non-GAAP) 8.66% 8.75% 8.69% 8.64% 8.55% (9) bps

Tier 1 Leverage Ratio 9.70% 9.37% 9.59% 9.65% 9.70% 5 bps

Tier 1 Common Ratio (Non-GAAP) 11.74% 11.39% 11.08% 10.95% 10.55% (40) bps

Total Risk Based Capital Ratio 14.19% 13.80% 13.45% 13.28% 12.82% (46) bps

Net Charge-Offs to Average Loans (2) 0.07% 0.06% 0.06% 0.02% 0.07% 5 bps

Nonperforming Assets to Total Assets (2) 0.69% 0.68% 0.69% 0.66% 0.61% (5) bps

(1) Fully taxable equivalent basis.

(2) Excluding FDIC Covered Assets and Acquired Assets.

Average earning assets up $179 million (+2%)

T/E net interest income up $6 million (+6%) Provision for loan losses of $5 million:

Legacy net charge-offs: $1.4 million (0.07% annualized rate)

Covered and acquired loan loss provision: $0.1 million

Legacy provision for loan losses: $4.6 million

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Overview

Loan Growth

Legacy Loan Growth

$ in millions

4th Quarter 2013:

$568 million, or +7% (+29% annualized)

Since YE 2011:

$2.9 billion, or +55% (+27% annualized)

Since YE 2009:

$4.2 billion, or +101% (+25% annualized)

The FDIC covered loan portfolio declined 57%, or $951 million (14% annualized rate)

$1,200 $1,000 $800 $600 $400 $200 $0 -$200

Legacy Loans

Acquired Loans

Covered Loans

$64 $58 $43 $173 $149 $258 $157 $338 $246 $421 $365 $362 $243 $434 $295 $568

Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13

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Overview

Deposit Growth

Total Deposit Growth

$ in millions

Decrease of $214 million, or -2% in 4Q13 (-8% Annualized)

$47 million (+2%) growth in NIB deposits for 4Q13

$153 million (-8%) decline in time deposits in 4Q13

Organic Deposit Growth

4th Quarter 2013:

Core deposit decline of $60 million, or -1% (-3% annualized)

$1,000 $800 $600 $400 $200 $0 -$200 -$400

Very strong transaction account growth in 4Q12

Noninterest Bearing

Other Core Deposits

Time Deposits

$184 $159 $217 $281 $333 $93 $273 $912 $14 $66 $413 $60

$62 $88 $92 $71 $122 $44 $143 $4 $84 $474 $47

Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13

Excludes acquired deposits

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Overview

Noninterest Bearing Deposits

% of Total Deposits

Since 2010, total noninterest bearing deposits increased $1.7 billion or +193% (+64% annualized rate)

$47 million of incremental noninterest bearing deposit growth or +2% (+7% annualized)

Top 4Q13 noninterest bearing deposit growth markets include Birmingham, Houston, New Orleans and Baton Rouge

25% 20% 15% 10% 5% 0%

11% 12% 15% 15% 16% 17% 18% 19% 18% 19% 19% 23% 24%

$0.9 $0.9 $1.3 $1.4 $1.5 $1.6 $1.7 $1.9 $2.0 $2.0 $2.1 $2.5 $2.6

$ in billions

$3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0

4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

Noninterest bearing deposits at period-end

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Overview

Deposits Costs

Our Deposit Costs Declined Greater Than Peers

A Portion Of The Lower Costs Were Due To Improved Mix Of Deposits

2010 Noninterest Bearing Deposits Grew From 11% To 24% Of Total Deposits in 4Q13

IBERIABANK Corporation

Average Peers

1 Year Treasury Rate

0.32% 0.30% 0.11%

2.00% 1.80% 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00%

1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

The decrease in 1Q10 cost of deposits reflects market value adjustments associated with the acquisition of Orion Bank and Century Bank

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Overview

Expense Savings Initiative

$ in millions

Salary & Benefits $8.3

Branch Closings $3.5

Contracts $3.6

Marketing & Technology $2.3

Other Expense $6.3

Revenue Enhancements $0.5

Expense Initiatives

Compensation

Branch closures

Other reductions

Branch closings

Closed 13 branch offices

Contracts

Consumer products

IT Maintenance Consulting

Marketing & Technology

Telephone

Other Items

Business travel

Occupancy expense

Professional services

Revenue Enhancements

Loan related fee income

Mortgage mandatory delivery

Increased origination activity

Service fees

Salary & Benefits 34%

Branch Closings 14%

Contracts 15%

Marketing & Technology 9%

Other Expense 26%

Total Expense 98%

Revenue Enhancements 2%

100%

$24.5 million pre-tax net benefit expected in 2014 and beyond

Aggregate implementation costs of $8.0 million realized through 3Q2013

100% of initiatives completed through December 2013

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Overview

Non-Interest Expense Trends

Linked quarter increases/(decreases) of:

Provision for unfunded lending commitments $ (2.4) mil.

Mortgage commissions (1.1)

Marketing and business development (0.7)

Hospitalization and payroll tax (0.7)

Benefits cost due to increased stock price 1.5

Oreo property costs 1.3

$ (2.1)

Noninterest expenses excluding non-operating items down $3.5 million, or 3%, as compared to 3Q13

Total expenses down $5.5 million, or 5%, in 4Q13

Severance expense down $0.3 million, or 61%

Occupancy and branch closure costs down $0.6 million Impairment of fixed assets down $1.2 million

Provision for FDIC claw-back liability down $0.7 million

Merger-related expense increased $0.5 million

4Q13 vs. 3Q13

Noninterest Expense ($000s) 4Q12 1Q13 2Q13 3Q13 4Q13 $ Change

Change

Mortgage Commissions $ 5,747 $ 4,327 $ 6,127 $ 4,238 $ 3,169 $ (1,069) -25%

Hospitalization Expense 4,005 4,407 3,994 4,303 3,899 (404) -9%

Other Salaries and Benefits 50,675 53,668 52,024 50,140 52,108 1,968 4%

Salaries and Employee Benefits $ 60,426 $ 62,402 $ 62,145 $ 58,681 $ 59,176 $ 495 1%

Credit/Loan Related 4,386 3,739 4,168 5,248 2,776 (2,472) -47%

Occupancy and Equipment 14,413 14,774 14,321 13,863 13,971 108 1%

Amortization of Acquisition Intangibles 1,285 1,183 1,181 1,179 1,177 (2) 0%

All Other Noninterest Expense 30,328 28,050 28,222 26,933 25,328 (1,605) -6%

Nonint. Exp. (Ex-Non-Operating Exp.) $ 110,838 $ 110,148 $ 110,036 $ 105,904 $ 102,428 $ (3,476) -3%

Severance 370 97 1,670 554 216 (338) -61%

Occupancy and Branch Closure Costs 711 375 4,925 594 — (594) -100%

Impairment of Long-lived Assets — 31,813 — 977 (225) (1,202) -123%

Provision for FDIC clawback liability — — 130 667 — (667) -100%

Debt Prepayment — 2,307 — — — —0%

Termination of Debit Card Rewards Program — — 450 — (311) (311) 100%

Consulting and Professional 339 — 150 (630) — 630 100%

Merger-Related Expenses 1,183 157 — 85 566 481 565%

Total Noninterest Expense $ 113,441 $ 144,898 $ 117,361 $ 108,152 $ 102,674 $ (5,478) -5%

Tangible Efficiency Ratio - excl Nonop Exp 72.5% 79.0% 76.8% 73.0% 69.9%

LOGO

Overview

Non-Interest Income Trends

Mortgage loan income declined $2.8 million or -19%

Title insurance income decreased $1.2 million, or -21%

Increased Capital Markets income of $1.0 million

Deposit service charge income stable

Decreased client derivative income

4Q13 originations down 20% from 3Q13 due to market forces and seasonal trends

Refinancings were 19% of production, unchanged from 3Q13

Sales down 31% in 4Q13

Margins relatively stable

Pipeline of $110 million at quarter-end and $123 million on January 10th (+12%)

4Q13 vs. 3Q13

Noninterest Income ($000s) 4Q12 1Q13 2Q13 3Q13 4Q13 $ Change

Service Charges on Deposit Accounts $ 7,295 $ 6,797 $ 7,106 $ 7,512 $ 7,455 $ (57) -1%

ATM / Debit Card Fee Income 2,412 2,183 2,357 2,476 2,493 17 1%

BOLI Proceeds and CSV Income 909 939 901 908 900 (8) -1%

Mortgage Income 22,935 18,931 17,708 15,202 12,356 (2,846) -19%

Title Revenue 5,492 5,021 5,696 5,482 4,327 (1,155) -21%

Broker Commissions 4,192 3,534 3,863 3,950 4,986 1,036 26%

Other Noninterest Income 4,928 4,727 4,915 7,720 6,179 (1,541) -20%

Noninterest income excluding non-operating income 48,162 42,132 42,546 43,250 38,696 (4,554) -11%

Gain (Loss) on Sale of Investments, Net (4) 2,359 (57) 13 19 6 42%

Other Non-operating income 2,196— — — — — — —

Total Noninterest Income $ 50,354 $ 44,491 $ 42,489 $ 43,263 $ 38,715 $ (4,548) -11%

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Overview

Capital Markets and Wealth Management

Total Quarterly Revenues For:

IBERIA Capital Partners

IBERIA Wealth Advisors

ICP/IWA revenues of $4.2 million (up 33% compared to 3Q13 and up 29% from 4Q12)

ICP currently provides research coverage on 100 public energy companies

IWA assets under management remained steady at $1.1 billion on December 31, 2013

Total Revenues ($ in Millions)

$4.5 $4.0 $3.5 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

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Overview

Small Business and Retail

No closures or consolidation of branches in the fourth quarter of 2013 - Closed 13 branches

and consolidated 4 branches over the past 12 months

Small Business loan growth of $34 million

Indirect loan growth of $5 million

Direct Consumer and Mortgage loan growth of $62 million

Increased Credit Card growth to $3.7 million for the quarter

Completed conversion to new Merchant Services partner

Checking account growth compares favorably to same quarter last year:

Small Business checking accounts increased 12% year-over-year

Consumer checking accounts increased 1% year-over-year

Branch efficiency, productivity and enhanced digital delivery efforts were completed by mid-

October, establishing our new run rate for the 4th quarter and beyond:

Retail staffing down 5.5% from end of the second quarter

Staff costs down 5.8% from end of the second quarter

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Overview

Non-Performing Assets Trends

$ in thousands

Legacy

Non-Covered Acquired

Covered Acquired

$900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0

$77,653 $72,159 $66,797 $66,444 $75,668 $75,030 $76,033 $75,863 $73,034

$58,375 $57,796 $62,511 $73,807 $70,694 $67,010 $64,125 $56,058 $46,363

$737,256 $681,642 $634,818 $561,466 $520,455 $458,568 $403,350 $349,601 $252,398

4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

NPA determination based on regulatory guidance for Acquired portfolios

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Overview

Legacy Portfolio

Asset Quality Summary

(Excludes FDIC covered assets and all acquired loans)

($ thousands)

For Quarter Ended: 12/31/2012 9/30/2013 12/31/2013

% or Basis Point Change Year/Year Qtr/Qtr

Nonaccrual Loans $ 47,916 $ 43,838 $ 43,687 -9% 0%

OREO 26,380 30,607 28,272 7% -8%

Accruing Loans 90+ Days Past Due 1,371 1,418 1,075 -22% -24%

Nonperforming Assets 75,667 75,863 73,034 -3% -4%

Past Due Loans 62,083 57,662 66,153 7% 15%

Classified Loans 125,310 78,059 82,199 -34% 5%

Nonperforming Assets/Assets 0.69% 0.66% 0.61% (8) bps (5) bps

NPAs/(Loans + OREO) 1.12% 0.98% 0.88% (24) bps (10) bps

Classified Assets/Total Assets 1.14% 0.66% 0.69% (45) bps 3 bps

(Past Dues & Nonaccruals)/Loans 0.92% 0.75% 0.80% (12) bps 5 bps

Provision For Loan Losses $ (2,715) $ 2,868 $ 4,621 -270% 61%

Net Charge-Offs/(Recoveries) 90 303 1,366 1411% 351%

Provision Less Net Charge-Offs $ (2,805) $ 2,565 $ 3,255 -216% 27%

Net Charge-Offs/Average Loans 0.01% 0.02% 0.07% 6 bps 5 bps

Allowance For Loan Losses/Loans 1.10% 0.83% 0.81% (29) bps (2) bps

Allowance For Credit Losses/Loans 1.10% 0.99% 0.95% (15) bps (4) bps

NPAs equated to 0.61% of total assets, down 5 bps compared to 3Q13

$82 million in classified assets (+5% from 3Q13)

$46 million special mention loans (-16% from 3Q13)

Net charge-offs of $1.4 million, or an annualized rate of 0.07% of average loans

$4.6 million provision for legacy franchise in 4Q13

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Overview

Allowance Coverage To NPAs

Allowance for Credit Losses/Nonperforming Assets %

120% 110% 100% 90% 80% 70% 60% 50%

4Q12 1Q13 2Q13 3Q13 4Q13

107.4% 83.8% 76.2%

IBERIABANK Corporation

Peer Banks $10 -$30 Billion in Total Assets

All Bank Holding Companies

4Q13 Allowance for loan losses of $67.3 million

4Q13 Reserve for unfunded lending commitments of $11.1 million

Legacy NPAs of $73.0 million ACL/NPAs equals 107.4%

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Overview

Performance Compared To Peers Since Year-End 1999

Average Over Period 2000-2013

Measurement U.S. Publicly- Publicly-Traded IBERIABANK

Measure Period Traded BHCs(1) BHC Peers(2) Corporation

Total Asset Growth Period-End CAGR 6.8% 9.4% 16.4%

Return on Average Assets Annual Average 0.46% 0.98% 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.

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Acquisition of Teche Holding Company

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Teche Holding Company

Acquisition

IBKC

TSH

Announced January 13, 2014

Adds 20 branches in overlapping Louisiana markets

Attractive, established client base complements our existing client base

Total Loans: $686 million

Total Assets: $857 million

Total Deposits: $651 million

Total Equity: $89 million common stock

Fixed exchange ratio of 1.162 shares of IBKC common stock for each TSH share within price collars and floating exchange ratios outside collars (1)

$161 million(2) for common stock outstanding based on IBKC closing price of at announcement

Price / Book Value: 1.71x

Price / Tangible Book Value: 1.78x

Includes $18 million, pre-tax credit mark (2.6% of loans)

Accretive to EPS

Slightly dilutive to TVBS

IRR in excess of 20%

(1) The agreement provides for a fixed exchange ratio with pricing collars that fix the value received by Teche shareholders if the weighted average trading price of IBERIABANK common stock were to decline below $55.80 per share, or exceed $68.20 per share, over a specified period

(2) Assumes exercise of options

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Teche - Financial Assumptions & Impact

Conservative Financial Assumptions

Credit Mark: Other Marks: Cost Savings:

Gross loss estimate of $18.0 million on a pre-tax basis

(2.6% of gross loan portfolio)

Loss estimate net of allowance of $10.1 million on a pre-tax basis Aggregate negative $13.1 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 $19 million on a pre-tax basis

Represents in excess of 50% of TSH’s fiscal year

2013 non-interest expenses

Savings expected to be achieved by first quarter of 2015

Merger Related Costs:

Approximately $22 million on a pre-tax basis

Approximately 6% accretive to EPS in 2015

Tangible book value dilution of 2% excluding one-time acquisition and conversion related costs on a pro forma basis at September 30, 2013 Tangible book value breakeven, including one-time acquisition and conversion related costs, of approximately four years Strong pro forma capital ratios:

Tangible common equity ratio = 8.7% Total risk based capital ratio = 13.2%

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

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Appendix

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Appendix

Loan Growth Since Year-End 2008

Acquired loans, net of discount +$2.9 billion

Acquired loan pay downs ($1.6 billion)

Legacy loan growth +$4.5 billion

Total net growth +$5.8 billion

Automobile 8%

Mortgage 14%

Other Consumer 3%

Commercial 38%

Business 20%

Small Business 3%

Home Equity 14%

December 31, 2008

$3.7 Billion

Home Equity 14%

Automobile 5%

Mortgage 6%

Other Consumer 3%

Commercial 35%

Business 29%

Small Business 8%

December 31, 2013

$9.5 Billion

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Appendix

Loan Originations 4Q13 –Top Markets

$1.4 billion in total funded loans and unfunded loan commitments originated in 4Q13

Significant growth in Houston, New Orleans and Birmingham. Strong growth across the franchise

Continued growth in other markets in which we have invested heavily

$ in millions

$500

$450

$400

$350

$300

$250

$200

$150

$100

$50

Loan Commitments

Loan Fundings

$42 $8 $34

$47 $12 $35

$50 $16 $34

$57 $17 $41

$66 $22 $44

$67 $19 $47

$153 $64 $89

$190 $68 $122

$462 $180 $282

SE Florida Huntsville Lafayette Little Rock Baton Rouge Memphis Birmingham New Orleans Houston

Loan commitments and originations include renewals

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Appendix

Deposit Growth Since Year-End 2008

Time Deposits 40%

Noninterest 15%

NOW Accounts 21%

Savings/Mmkt 24%

Noninterest

NOW Accounts

Savings/Mmkt

Time Deposits

December 31, 2008

$4.0 Billion

Time Deposits 16%

Noninterest 24%

NOW Accounts 21%

Savings/Mmkt 39%

December 31, 2013

$10.7 Billion

$6.7 billion growth in total deposits or +174% (+34% annualized)

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Appendix

Market Highlights For 4Q13

Loan pricing and structure remain competitive for target commercial and business banking clients

Houston, New Orleans, Birmingham, Memphis, Baton Rouge, Little Rock and Acadiana showed strong commercial loan originations Loans and commitments originated during 4Q13 of $1.4 billion with 37% fixed rate and 63% floating rate Commercial loans originated and funded in 4Q13 totaled $685 million with a mix of 25% fixed and 75% floating ($1.1 billion in commercial loan commitments during the quarter)

Strong commercial pipeline of approximately $500 million at quarter-end

Small business loan originations, including lines of credit, grew $56 million or 7% in 4Q13 (29% annualized) Period-end core deposit decline of $60 million, with non-interest bearing deposits up $47 million (up $234 million linked quarter growth on an average balance basis

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Appendix

Asset Quality Portfolio Trends

($thousands)

Nonaccruals OREO & Foreclosed 90+ Days Past Due Nonperforming Assets

NPAs/Assets NPAs/(Loans + OREO) LLR/Loans ACL/Loans Net Charge-Offs/Loans

Past Dues:

30-89 Days Past Due 90+ days Past Due Nonaccual Loans Total 30+ Past Dues

% Loans

Total Portfolio

4Q12 3Q13 4Q13

$ 540,867 $ 341,691 $ 270,428

121,536 128,987 99,173

4,404 10,844 2,194

$ 666,807 $ 481,522 $ 371,795

5.08% 3.66% 2.78%

7.74% 5.25% 3.88%

2.96% 1.64% 1.51%

2.96% 1.77% 1.62%

0.00% 0.01% 0.06%

$ 47,899 $ 26,445 $ 40,918

4,404 10,844 2,194

540,867 341,691 270,428

$ 593,170 $ 378,980 $ 313,540

6.98% 4.19% 3.30%

% or Basis Point Change

Year/Year Qtr/Qtr

-50% -21%

-18% -23%

-50% -80%

-44% -23%

(230) bps (88) bps

(386) bps (137) bps

(145) bps (13) bps

(134) bps (15) bps

6 bps 5 bps

-15% 55%

-50% -80%

-50% -21%

-47% -17%

(368) bps (89) bps

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Appendix

Non-Operating Items (Non-GAAP)

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (1)

(dollars in thousands)

Net Income (Loss) (GAAP)

Noninterest income adjustments Loss (Gain) on sale of investments Other noninterest income

Noninterest expense adjustments Merger-related expenses Severance expenses Impairment of indemnification asset Provision for FDIC clawback liability

Occupancy expenses and branch closure expenses Termination of debit card rewards program Professional expenses and litigation settlements Operating earnings (Non-GAAP) (3)

Covered and acquired impaired (reversal of) provision for loan losses Other (reversal of) provision for loan losses Pre-provision operating earnings (Non-GAAP) (3)

For The Quarter Ended

December 31, 2012 September 30, 2013

Dollar Amount Dollar Amount

Pre-tax After-tax (2) Per share Pre-tax After-tax (2) Per share

$ 32,037 $ 23,208 $ 0.79 $ 30,549 $ 23,192 $ 0.78

4 3 - (13) (8) 0.00

(2,196) (1,427) (0.0483) - - -

1,183 769 0.03 85 55 0.00

370 241 0.01 554 360 0.01

- - - 977 635 0.02

- - - 667 434 0.01

711 462 0.02 594 386 0.01

- - - - - -

339 220 0.01 (630) (410) (0.01)

32,450 23,476 0.80 32,783 24,644 0.83

7,581 4,928 0.17 (854) (555) (0.02)

(2,715) (1,765) (0.06) 2,868 1,864 0.07

$ 37,314 $ 26,639 $ 0.91 $ 34,797 $ 25,953 $ 0.89

December 31, 2013

Dollar Amount

Pre-tax After-tax (2) Per share

$ 34,779 $ 25,604 $ 0.86

(19) (12) (0.00)

- - -

566 368 0.01

216 141 0.00

(225) (146) (0.00)

- - -

(311) (202) (0.01)

- - -

35,006 25,753 0.87

79 51 0.00

4,621 3,004 0.10

$ 39,706 $ 28,808 $ 0.97

(1) Per share amounts may not appear to foot due to rounding. (2) After-tax amounts estimated based on a 35% marginal tax rate.

(3) Includes the impact of the adoption of ASU 2012-06 in the three-month periods ending December 31, 2013 and September 30, 2013.

4Q13 Pre-tax merger related expenses of $0.6 million and $0.4 million on an after-tax basis ($0.01 EPS) 4Q13 Pre-tax provision for loan losses of $4.7 million or $3.0 million on an after-tax basis ($0.10 EPS)

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Appendix

Performance Metrics – Yields and Costs

For Quarter Ended:

Linked Quarter Basis Point Change

9/30/2013 12/31/2013

Investment Securities 1.98% 2.21% 23 bps

Covered Loans, net of loss share receivable 3.66% 4.28% 62 bps

Noncovered Loans 4.39% 4.43% 4 bps

Loans & Loss Share Receivable 4.21% 4.33% 12 bps

Mortgage Loans Held For Sale 4.32% 4.06% (26) bps

Other Earning Assets 0.89% 0.94% 5 bps

Total Earning Assets 3.74% 3.87% 13 bps

Interest Bearing Deposits 0.40% 0.39% (1) bps

Short-Term Borrowings 0.14% 0.15% 1 bps

Long-Term Borrowings 3.37% 3.37% 0 bps

Total Interest Bearing Liabilities 0.49% 0.47% (2) bps

Net Interest Spread 3.25% 3.40% 15 bps

Net Interest Margin 3.37% 3.52% 15 bps

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

Investment yield increased 23 bps due to reduced bond premium amortization

Non-covered loan yield increased 4 bps from 3Q13 reflecting an increase in consumer loan yields

Net covered loan yield increased 62 bps, offsetting a decline in the average covered loan volume in the quarter

Average noninterest bearing deposits up $234 million (+10% linked quarter basis)

Interest bearing deposit costs declined 1 bps

Margin increased 15 bps to 3.52%

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Appendix

Expected Quarterly Re-pricing Schedule

$ in millions 1Q14 2Q14 3Q14 4Q14 1Q15

Cash Equivalents

Balance $ 203.5 $ - $ - $ - $ -

Rate 1.09% 0.00% 0.00% 0.00% 0.00%

Investments

Balance $ 79.1 $ 75.5 $ 78.6 $ 54.7 $ 48.5

Rate 2.50% 2.80% 3.02% 3.03% 2.99%

Fixed Rate Loans

Balance $ 304.9 $ 268.4 $ 250.7 $ 237.8 $ 211.3

Rate 5.05% 4.91% 4.96% 4.89% 4.98%

Variable Rate Loans

Balance $ 4,181.1 $ 44.7 $ 18.2 $ 25.3 $ 7.5

Rate 3.26% 3.01% 2.79% 2.76% 1.65%

Held for Sale Loans

Balance $ 128.4 $ - $ - $ - $ -

Rate 4.86% 0.00% 0.00% 0.00% 0.00%

Time Deposits

Balance $ 752.6 $ 369.0 $ 257.8 $ 192.0 $ 64.9

Rate 0.56% 0.56% 0.54% 0.51% 0.96%

Repos

Balance $ 680.3 $ - $ - $ - $ -

Rate 0.15% 0.00% 0.00% 0.00% 0.00%

Borrowed Funds

Balance $ 120.3 $ 5.6 $ 13.0 $ 0.4 $ 0.4

Rate 3.18% 4.15% 4.04% 3.65% 3.65%

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

$1.6 Billion in time deposits re-price over next 12 months at 0.55% weighted average rate

During 4Q13, new and re-priced time deposits were booked at an average cost of 0.32%

In 4Q13, retention rate of time deposits was 79% with average reduction in rate of 38 basis points

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

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Appendix

Interest Rate Risk Simulation

Change In:

Net Interest Income

Economic Value of Equity

-200 bp* -100 bp* Base Case +100 bp* +200 bp* Blue Chip Forward Curve

-5.8% -2.6% 0.0% 3.3% 7.0% 0.2% 1.0%

-20.0% -14.6% 0.0% -0.9% 1.6% 0.0% 0.0%

Source: Bancware model, as of December 31, 2013

* 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

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Appendix

FDIC Covered Loan Portfolio Roll Forward

1Q2013

2Q2013

3Q2013

4Q2013

Average

Income / Expense

Average Yield

Average

Income / Expense

Average Yield

Average

Income / Expense

Average Yield

Average

Income / Expense

Average Yield

Covered Loans 1,039,469 41,607 16.047% 954,555 30,324 12.619% 871,768 30,858 13.896% 751,482 37,180 19.462%

Mortgage Loans 180,902 4,398 9.724% 170,420 4,135 9.706% 163,485 2,718 6.650% 149,834 4,329 11.556%

Indirect Automobile (0) - 0.000% - - 0.000% - - 0.000% - - 0.000%

Credit Card 824 13 6.565% 789 14 7.147% 728 13 6.971% 679 13 7.377%

Consumer 130,960 3,509 10.867% 126,164 2,594 8.248% 104,668 3,029 11.481% 88,260 2,944 13.232%

Line Of Credit-Consumer Loans 41,802 3,200 31.044% 40,543 2,967 29.355% 50,939 (190) -1.476% 59,651 4,142 27.551%

Commercial & Business Banki 684,981 30,487 17.803% 616,642 20,613 13.224% 551,950 25,288 17.928% 453,062 25,753 22.242%

Loans in Process (1) - 0.000% (3) - 0.000% (2) - 0.000% (4) - 0.000%

Overdrafts 0 - 0.000% 0 - 0.000% - - 0.000% - - 0.000%

FDIC Loss Share Receivable 384,319 (27,702) -28.832% 268,700 (18,130) -26.692% 228,047 (22,875) -39.252% 188,932 (29,142) -60.357%

Net Covered Loan Portfolio 1,423,788 13,905 5.351% 1,223,255 12,194 5.110% 1,099,815 7,983 3.663% 940,414 8,038 4.279%

1Q2013

2Q2013

3Q2013

4Q2013

Average Income / Expense Average Yield Average Income / Expense Average Yield Average Income / Expense Average Yield Average Income / Expense Average Yield

Covered Loans 1,039,469 41,607 16.047% 954,555 30,324 12.619% 871,768 30,858 13.896% 751,482 37,180 19.462%

CapitalSouth Bank 138,793 4,109 11.855% 131,981 3,610 10.852% 123,412 3,248 10.332% 109,390 2,948 10.610%

Orion Bank 597,706 25,287 16.960% 548,977 17,685 12.789% 504,934 17,935 13.924% 431,840 18,778 17.104%

Century Bank 219,726 6,401 11.703% 199,836 4,943 9.869% 175,247 6,751 15.184% 157,460 12,280 30.697%

Sterling Bank 83,245 5,810 27.941% 73,762 4,087 21.956% 68,174 2,924 16.831% 52,792 3,174 23.576%

FDIC Loss Share Receivable 384,319 (27,702) -28.832% 268,700 (18,130) -26.692% 228,047 (22,875) -39.252% 188,932 (29,142) -60.357%

CapitalSouth Bank 29,301 (2,388) -32.596% 18,955 (2,347) -48.987% 14,720 (2,538) -67.473% 10,394 (535) -20.145%

Orion Bank 235,594 (17,330) -29.423% 164,219 (10,492) -25.277% 141,213 (12,702) -35.199% 115,061 (22,595) -76.842%

Century Bank 90,384 (4,100) -18.146% 65,145 (3,105) -18.857% 55,021 (5,304) -37.719% 49,048 (5,808) -46.333%

Sterling Bank 29,040 (3,884) -53.502% 20,382 (2,185) -42.404% 17,093 (2,331) -53.365% 14,430 (205) -5.547%

Net Covered Loan Portfolio 1,039,469 13,905 5.351% 954,555 12,194 5.110% 871,768 7,983 3.663% 751,482 8,038 4.279%

CapitalSouth Bank 138,793 1,721 4.961% 131,981 1,262 3.826% 123,412 710 2.301% 109,390 2,413 8.825%

Orion Bank 597,706 7,958 5.326% 548,977 7,192 5.240% 504,934 5,232 4.145% 431,840 (3,817) -3.536%

Century Bank 219,726 2,301 4.188% 199,836 1,837 3.678% 175,247 1,448 3.304% 157,460 6,472 16.442%

Sterling Bank 83,245 1,925 9.252% 73,762 1,903 10.317% 68,174 593 3.480% 52,792 2,970 22.503%

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Appendix

Expected Amortization

Projected Average Loan Balances and Net Yields

Projected Average Balance

Projected Net Yield

$1,000

$800

$600

$400

$200

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015

9.50%

8.50%

7.50%

6.50%

5.50%

4.50%

3.50%

$ 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

$ 18.5 $ 16.6 $ 14.5 $ 13.4 $ 63.0 $ 12.6

Amortization

$ (27.7) $ (18.1) $ (22.9) $ (29.1) $ (97.8)

$ (12.3) $ (11.1) $ (9.7) $ (7.3) $ (40.4) $ (3.8)

Net covered Income

$ 13.9 $ 12.2 $ 8.0 $ 8.0 $ 42.1

$ 6.2 $ 5.5 $ 4.8 $ 6.1 $ 22.6 $ 8.8

Average Balance

$ 1,039 $ 995 $ 872 $ 751 $ 903

$ 689 $ 591 $ 523 $ 462 $ 566 $ 409