8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 19, 2019

IBERIABANK CORPORATION

(Exact name of Registrant as Specified in Charter)

Louisiana	001-37532	72-1280718
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

200 West Congress Street, Lafayette, Louisiana 70501

(Address of Principal Executive Offices)

(337) 521-4003

Registrant’s telephone number, including area code

NOT APPLICABLE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock (par value $1.00 per share)	IBKC	The NASDAQ Stock Market, LLC
Depositary Shares, Each Representing a 1/400th Interest in a Share of 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B	IBKCP	The NASDAQ Stock Market, LLC
Depositary Shares, Each Representing a 1/400th Interest in a Share of 6.60% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C	IBKCO	The NASDAQ Stock Market, LLC
Depositary Shares, Each Representing a 1/400th Interest in a Share of 6.100% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D	IBKCN	The NASDAQ Stock Market, LLC

Item 2.02 Results of Operations and Financial Condition

Item 7.01 Regulation FD Disclosure

On July 19, 2019, the Registrant announced its results of operations for the three and six months ended June 30, 2019. Copies of the related press release and selected supplemental materials are attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit 99.1 - Press Release reporting second quarter results dated July 19, 2019, issued by the Registrant.

Exhibit 99.2 - Supplemental Materials to conference call.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	IBERIABANK CORPORATION
DATE: July 19, 2019	By:	/s/ Daryl G. Byrd
	Daryl G. Byrd
	President and Chief Executive Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

July 19, 2019

Contact:

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

Jefferson G. Parker, Vice Chairman, Director of Capital Markets, Energy Lending and Investor Relations (504) 310-7314

IBERIABANK Corporation Reports Second Quarter Results

LAFAYETTE, LOUISIANA -- IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 132-year-old IBERIABANK (www.iberiabank.com), reported financial results for the second quarter ended June 30, 2019. For the quarter, the Company reported net income available to common shareholders of $100.6 million, or $1.86 diluted earnings per common share (“EPS”). On a non-GAAP basis, EPS excluding non-core revenues and non-core expenses ("Core EPS") in the second quarter of 2019 was $1.87 per common share, compared to $1.71 in the year-ago period, an increase of 9% (refer to press release supplemental tables for a reconciliation of GAAP to non-GAAP metrics).

Daryl G. Byrd, President and Chief Executive Officer, commented, “We reported very strong financial results in the second quarter driven by solid increases in revenues, strong loan growth, a stable net interest margin and improvements in our non-interest income fee businesses. Looking to the second half of 2019, we remain confident in our ability to navigate through an ever-changing economic environment and deliver solid results."

Highlights for the second quarter of 2019 and at June 30, 2019:

	For the three months ended
	GAAP						Non-GAAP Core
	2Q19			1Q19			2Q19			1Q19
Diluted Earnings Per Common Share	$	1.86		$	1.75		$	1.87		$	1.72
Return on Average Assets	1.30		%	1.32		%	1.31		%	1.29		%
Return on Average Common Equity	10.05		%	9.85		%	10.13		%	9.66		%
Return on Average Tangible Common Equity	N/A			N/A			15.58		%	15.03		%
Efficiency Ratio	54.0		%	52.4		%	53.8		%	53.2		%
Tangible Efficiency Ratio (TE)	N/A			N/A			52.0		%	51.3		%

• Strong 2Q19 for both GAAP and Core EPS, improving 6% and 9%, respectively, on a linked quarter basis.

• Total revenue grew $11.2 million, or 4%, on a linked quarter basis, primarily as a result of strong loan growth and improvements in non-interest income.

• Solid growth in non-interest income on a GAAP basis, increasing $6.3 million, or 12%, from 1Q19:

• Mortgage income increased $6.6 million, or 56%, on a linked quarter basis.

• Title revenue increased $1.7 million, or 32%, on a linked quarter basis.

• Customer swap income decreased $1.7 million on a linked quarter basis.

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• Total loan growth of $387.0 million on a linked quarter basis, or 7% annualized, primarily driven by growth in corporate asset finance, energy, and mortgage.

• The Company's reported and cash net interest margins decreased 2 and 5 basis points on a linked quarter basis, to 3.57% and 3.37%, respectively. The Company realized $7.2 million in recoveries.

• Credit metrics remained strong and stable. No signs of deterioration in the loan portfolio.

• During 2Q19, the Company repurchased 1.76 million common shares at a weighted average price of $76.59 per common share.

• On April 4, 2019, the Company issued and sold 4.0 million depositary shares, each representing 1/400th interest in a share of non-cumulative perpetual preferred stock. The Series D preferred stock has an initial coupon equal to 6.100% for a period of five years, and thereafter floats at a rate of LIBOR plus 385.9 basis points. The Company raised approximately $100.0 million in gross proceeds from the transaction.

Recent Events:

• On July 17, 2019, the Company announced a third quarter cash dividend equal to $0.45 per common share payable on October 25, 2019. This represents a 5% increase in the quarterly dividend.

• Also on July 17, 2019, the Company announced the completion of its November 2018 share repurchase program for 2.765 million shares of IBERIABANK Corporation common stock. Additionally, the Company announced the commencement of a new share repurchase program of up to 1.6 million shares, or approximately 3% of outstanding common shares.

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Table A - Summary Financial Results
(Dollars in thousands, except per share data)
	For the Three Months Ended
	6/30/2019			3/31/2019			% Change	6/30/2018			% Change
GAAP BASIS:
Income available to common shareholders	$	100,649		$	96,533		4.3	$	74,175		35.7
Earnings per common share - diluted	1.86			1.75			6.3	1.30			43.1
Average loans and leases, net of unearned income	$	23,120,689		$	22,599,686		2.3	$	21,830,720		5.9
Average total deposits	24,102,704			23,678,400			1.8	23,155,871			4.1
Net interest margin (TE) (1)	3.57		%	3.59		%		3.76		%
Total revenues	$	314,164		$	302,993		3.7	$	310,053		1.3
Total non-interest expense	169,618			158,753			6.8	196,776			(13.8	)
Efficiency ratio	54.0		%	52.4		%		63.5		%
Return on average assets	1.30			1.32				1.01
Return on average common equity	10.05			9.85				7.87
NON-GAAP BASIS (2):
Core revenues	$	315,176		$	302,993		4.0	$	310,050		1.7
Core non-interest expense	169,543			161,239			5.2	175,344			(3.3	)
Core earnings per common share - diluted	1.87			1.72			8.7	1.71			9.4
Core tangible efficiency ratio (TE) (1) (3)	52.0		%	51.3		%		54.3		%
Core return on average assets	1.31			1.29				1.32
Core return on average common equity	10.13			9.66				10.30
Core return on average tangible common equity	15.58			15.03				16.70
Net interest margin (TE) - cash basis (1)	3.37			3.42				3.49
(1)  Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2)  See Table 9 and Table 10 for GAAP to Non-GAAP reconciliations.
(3)  Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

Operating Results

Net interest income increased$4.9 million, or 2%, on a linked quarter basis. Average loans increased$521.0 million, or 9% annualized, and the associated taxable-equivalent yield increased5 basis points. On a linked quarter basis, the yield on total earning assets was 2 basis points higher at 4.70% compared to 4.68% in the prior quarter. The increase in loan yield was primarily driven by higher recoveries in the acquired loan portfolio.

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Average interest-bearing deposits increased $253.4 million, or 6% annualized, and the cost of interest-bearing deposits rose 10 basis points to 1.50% on a linked quarter basis. Total average interest-bearing liabilities increased by $100.6 million, or 2% annualized, and the cost of interest-bearing liabilities rose 8 basis points to 1.61%. The total cost of funding in the second quarter of 2019 was 1.22%, compared to 1.17% in the prior quarter. The increase in cost of funds was primarily due to brokered wholesale CD issuances and promotional activity in customer time deposits, as well as an upward repricing of certain variable rate deposits. The increase in cost of funds resulted in a decrease in the reported and cash net interest margins of 2 and 5 basis points to 3.57% and 3.37%, respectively.

The provision for credit losses totaled $10.8 million, compared to $13.8 million in the prior quarter. Asset quality measures remained strong and stable. Net charge-offs to average loans on an annualized basis were 0.14% compared to 0.13% in the prior quarter. Non-performing assets to total assets were 0.60% compared to 0.58% in the prior quarter. On a linked quarter basis, the allowance for loan and lease losses to total loans and leases increased slightly to 0.63% compared to 0.62% in the prior quarter and covered 92% of non-performing loans.  

Non-interest income increased $6.3 million, or 12%, on a linked quarter basis. Excluding $1.0 million in losses on the sale of available-for-sale securities, core non-interest income increased $7.3 million, or 14% from the first quarter.  The increases were primarily driven by a $6.6 million increase in mortgage income and a $1.7 million increase in title revenue. These increases were partially offset by a decrease of $1.7 million in customer swap income.

Non-interest expense increased $10.9 million, or 7%, compared to the linked quarter, primarily driven by a $5.1 million increase in salaries and employee benefits expenses (including commissions), a $1.8 million increase in professional services expenses, and a $1.3 million increase in credit and other loan related expenses.

The effective tax rate increased from 23.3% in the first quarter of 2019 to 24.1% in the second quarter of 2019, resulting in an increase in income tax expense of $1.8 million when compared to the prior quarter.

On a linked quarter basis, the efficiency ratio increased to 54.0% from 52.4%, primarily due to an increase in salaries and employee benefits expenses, while the non-GAAP core tangible efficiency ratio increased to 52.0% compared to 51.3%. The Company continues to focus on cost containment and revenue enhancement efforts to deliver positive operating leverage in 2019. Refer to Table A for a summary of financial results on both a GAAP and non-GAAP basis.

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Table B - Summary Financial Condition Results
(Dollars in thousands, except per share data)
		As of and For the Three Months Ended
		6/30/2019			3/31/2019			% Change	6/30/2018			% Change
PERIOD-END BALANCES:
	Total loans and leases, net of unearned income	$	23,355,311		$	22,968,295		1.7	$	22,075,783		5.8
	Total deposits	24,295,331			24,092,062			0.8	23,430,458			3.7
ASSET QUALITY RATIOS:
	Loans 30-89 days past due and still accruing as a percentage of total loans (1)	0.18		%	0.20		%		0.20		%
	Loans 90 days or more past due and still accruing as a percentage of total loans (1)	0.00			0.02				0.04
	Non-performing assets to total assets (1)(2)	0.60			0.58				0.54
	Classified assets to total assets (3)	0.97			1.01				1.33
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (4) (5)	8.97		%	9.01		%		8.56		%
	Tier 1 leverage ratio (6)	9.71			9.67				9.54
	Total risk-based capital ratio (6)	12.34			12.33				12.37
PER COMMON SHARE DATA:
	Book value	$	75.93		$	73.50		3.3	$	67.06		13.2
	Tangible book value (Non-GAAP) (4) (5)	51.20			49.48			3.5	43.75			17.0
	Closing stock price	75.85			71.71			5.8	75.80			0.1
	Cash dividends	0.43			0.43			—	0.38			13.2
(1)	Past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
(2)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets. Refer to Table 5 for further detail.
(3)	Classified assets include loans rated substandard or worse, non-performing mortgage and consumer loans, and OREO and foreclosed property and include acquired impaired loans accounted for under ASC 310-30. Classified assets were $306 million, $315 million and $401 million at June 30, 2019, March 31, 2019, and June 30, 2018, respectively.
(4)	See Table 9 and Table 10 for GAAP to Non-GAAP reconciliations.
(5)	Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.
(6)	Regulatory capital ratios as of June 30, 2019 are preliminary.

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Loans and Other Assets

On a linked quarter basis, total loans increased $387.0 million, or 7% annualized, to $23.4 billion at June 30, 2019. Period-end loan growth during the second quarter of 2019 was strongest in the Energy Group (reserve-based and midstream lending), the Corporate Asset Finance Group (equipment financing and leasing business), and the New Orleans and Dallas markets. The Company believes it is well-positioned for diversified loan growth based on our strategic presence in significant MSAs in the Southeastern United States.

Table C - Period-End Loans
(Dollars in thousands)
	As of and For the Three Months Ended
							Linked Qtr Change						Year/Year Change				Mix
	6/30/2019		3/31/2019		6/30/2018		$		%		Annualized		$		%		6/30/2019		3/31/2019
Commercial loans and leases	$	15,980,029	$	15,628,158	$	14,804,720	351,871		2.3		9.0	%	1,175,309		7.9		68.5	%	68.1	%
Residential mortgage loans	4,538,194		4,415,267		4,124,538		122,927		2.8		11.2	%	413,656		10.0		19.4	%	19.2	%
Consumer and other loans	2,837,088		2,924,870		3,146,525		(87,782	)	(3.0	)	(12.0	)%	(309,437	)	(9.8	)	12.1	%	12.7	%
Total loans and leases	$	23,355,311	$	22,968,295	$	22,075,783	387,016		1.7		6.8	%	1,279,528		5.8		100.0	%	100.0	%

On an average balance and linked quarter basis, the investment portfolio decreased $173.1 million, or 14% annualized, to $4.8 billion, primarily due to sales of available-for-sale securities. On a period-end basis, investment securities were $4.6 billion, or 15% of total assets. At June 30, 2019, approximately 96% of the investment portfolio was in available-for-sale securities, which experience unrealized gains as interest rates fall. The investment portfolio had an effective duration of 2.6 years at June 30, 2019, down from 3.0 years at March 31, 2019, and a $58.4 million unrealized gain at June 30, 2019, up from a $6.0 million unrealized loss at March 31, 2019. The average yield on investment securities decreased 7 basis points to 2.83% in the second quarter of 2019. The investment portfolio primarily consists of government agency securities. Municipal securities comprised 7% of total investments at June 30, 2019.

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Deposits and Funding

Total deposits increased $203.3 million, or 3% annualized, to $24.3 billion at June 30, 2019.

Table D - Period-End Deposits
(Dollars in thousands)
							Linked Qtr Change						Year/Year Change				Mix
	6/30/2019		3/31/2019		6/30/2018		$		%		Annualized		$		%		6/30/2019		3/31/2019
Non-interest-bearing	$	6,474,394	$	6,448,613	$	6,814,441	25,781		0.4		1.6	%	(340,047	)	(5.0	)	26.6	%	26.8	%
NOW accounts	4,610,577		4,452,966		4,453,152		157,611		3.5		14.2	%	157,425		3.5		19.0	%	18.5	%
Money market accounts	8,192,752		8,348,509		8,467,906		(155,757	)	(1.9	)	(7.5	)%	(275,154	)	(3.2	)	33.7	%	34.6	%
Savings accounts	702,711		770,754		850,425		(68,043	)	(8.8	)	(35.4	)%	(147,714	)	(17.4	)	2.9	%	3.2	%
Time deposits	4,314,897		4,071,220		2,844,534		243,677		6.0		24.0	%	1,470,363		51.7		17.8	%	16.9	%
Total deposits	$	24,295,331	$	24,092,062	$	23,430,458	203,269		0.8		3.4	%	864,873		3.7		100.0	%	100.0	%

Asset Quality

Credit quality remained strong and stable. Classified assets decreased $10.8 million, or 3%, from March 31, 2019 and were 0.97% of total assets, compared to 1.01% in the prior quarter and 1.33% in the prior year. Non-performing assets to total assets were 0.60% at June 30, 2019, compared to 0.58% in the prior quarter. Loans 30-89 days past due and still accruing decreased $2.3 million, or 5%, compared to the prior quarter and represented 0.18% of total loans and leases, compared to 0.20% in the prior quarter. As a percentage of average loans and leases, annualized net charge-offs were 0.14%, up 1 basis point compared to the prior quarter.

The allowance for loan and lease losses was $146.4 million, up $3.4 million compared to the prior quarter. As of June 30, 2019, the allowance for loan and lease losses was 0.63% of total loans and leases, up 1 basis point compared to March 31, 2019.

Refer to Table 5 - Loans and Asset Quality Data for further information.

Capital Position

At June 30, 2019, the non-GAAP tangible common equity ratio was 8.97%, down 4 basis points compared to March 31, 2019, and the preliminary Tier 1 leverage ratio was 9.71%, up 4 basis points compared to March 31, 2019. The preliminary calculation of the total risk-based capital ratio at June 30, 2019, was 12.34%, up 1 basis point compared to March 31, 2019.

At June 30, 2019, book value per common share was $75.93, up $2.43 per share, compared to March 31, 2019. Tangible book value per common share was $51.20, up $1.72 per share, compared to March 31, 2019. Based on the closing stock price of the Company’s common stock of $75.27 per share on July 18, 2019, this price equated to 0.99 times June 30, 2019 book value per common share and 1.47 times June 30, 2019 tangible book value per common share.

Dividends On Capital Stock. The declaration of dividends is at the discretion of the Board of Directors. The following details the recent dividend declarations:

Common Stock. On May 9, 2019, the Company announced a quarterly cash dividend of $0.43 per common share, consistent with the common dividend declared in March 2019. The dividend is payable on July 26, 2019 to shareholders of record as of June 28, 2019. Additionally, on July 17, 2019 the Company announced a third quarter dividend of $0.45 per common share payable on October 25, 2019 to shareholders of record as of September 30, 2019.

Preferred Stock. On July 3, 2019, the Company announced a semi-annual cash dividend of $0.8281 per depositary share of Series B Preferred Stock that is payable on August 1, 2019 to shareholders of record as of July 17, 2019. On July 3, 2019, the Company also announced a quarterly cash dividend of $0.4125 per depositary share of Series C Preferred Stock that is payable on August 1, 2019 to shareholders of record as of July 17, 2019.

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On April 4, 2019, the Company issued and sold 4.0 million depositary shares, each representing a 1/400th ownership interest in a share of non-cumulative perpetual preferred stock. The Series D preferred stock has an initial coupon equal to 6.100% for a period of five years, and thereafter floats at a rate of LIBOR plus 385.9 basis points. The Company raised approximately $100.0 million in gross proceeds from the transaction.

Common Stock Repurchase Program. During the second quarter of 2019, the Company repurchased 1,759,849 common shares, at a weighted average price of $76.59 per common share. At June 30, 2019, the Company had approximately 117,230 remaining shares to be repurchased under the Board-approved plan. On July 17, 2019, the Company announced the completion of this plan. The Company's recently completed share repurchase program was announced on November 5, 2018 and completed on July 12, 2019. During that time, the Company purchased 2,765,000 shares of its common stock at a weighted average price of $75.52 per share. On July 17, 2019 the Board of Directors authorized a new repurchase plan of up to 1,600,000 shares of the Company's common stock. This repurchase authorization equated to approximately 3% of total common shares outstanding. Stock repurchases under this program will be made from time to time, on the open market or in privately negotiated transactions at the discretion of the management of the Company. The timing of these repurchases will depend on market conditions and other requirements. The Company currently anticipates the share repurchase program will extend over a two-year period, or earlier if the shares have been repurchased.

Updated 2019 Financial Guidance

Updated 2019 Guidance
Average Earning Assets	$28.6B ~ $28.8B
Consolidated Loan Growth	5% ~ 7%
Consolidated Deposit Growth	5% ~ 7%
Provision Expense	$41MM ~ $45MM
Non-Interest Income (Core Basis)	$222MM ~ $230MM
Non-Interest Expense (Core Basis)	$667MM ~ $677MM
Net Interest Margin	3.48% ~ 3.54%
Tax Rate	23.0% ~ 24.0%
Preferred Dividend	$17.0MM ~ $18.0MM
Share Repurchase Activity	$235MM ~ $240MM
Credit Quality	Stable

• Updated guidance includes two interest rate cuts of 25 basis points; one each in July and September 2019

IBERIABANK Corporation

IBERIABANK Corporation is a financial holding company with locations in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services.

The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC”. The Company's Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock also trade on the NASDAQ Global Select Market under the symbols "IBKCP", "IBKCO", and "IBKCN", respectively. The Company’s common stock market capitalization was approximately $4.0 billion, based on the closing stock price on July 18, 2019.

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The following 10 investment firms currently provide equity research coverage on the Company:

• Bank of America Merrill Lynch

• Janney Montgomery Scott, LLC

• Hovde Group, LLC

• Jefferies & Co., Inc.

• Keefe, Bruyette & Woods, Inc.

• Piper Jaffray & Co.

• Raymond James & Associates, Inc.

• Sandler O’Neill + Partners, L.P.

• Stephens, Inc.

• SunTrust Robinson-Humphrey

Conference Call

In association with this earnings release, the Company will host a live conference call to discuss the financial results for the quarter just completed. The telephone conference call will be held on Friday, July 19, 2019, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003. The confirmation code for the call is 4057575. A replay of the call will be available until midnight Central Time on July 26, 2019, by dialing 1-877-344-7529. The confirmation code for the replay is 10131974. 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 "Financial Information" and “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. Non-GAAP measures in this press release include, but are not limited to, descriptions such as core, tangible, and pre-tax pre-provision. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. Transactions that are typically excluded from non-GAAP performance measures include realized and unrealized gains/losses on former bank owned real estate, realized gains/losses on securities, income tax gains/losses, merger-related charges and recoveries, litigation charges and recoveries, debt repayment penalties, and gains, losses, and impairment charges on long-lived assets. 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 presented in the supplemental tables at the end of this release. Please refer to the supplemental tables for these reconciliations.

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Caution About Forward-Looking Statements

This press release contains "forward-looking statements," which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. Due to various factors, actual results may differ materially from our forward-looking statements. Factors that could cause our actual results to differ materially from our forward-looking statements are described under "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Risk Factors" and "Regulation and Supervision" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website, www.sec.gov, and the Company's website, www.iberiabank.com. To the extent that statements in this press release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of 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.

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. All information is as of the date of this press release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

10

Table 1 - IBERIABANK CORPORATION
FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
		As of and For the Three Months Ended
INCOME DATA:		6/30/2019			3/31/2019			% Change		6/30/2018			% Change
	Net interest income	$	255,339		$	250,484		1.9		$	256,113		(0.3	)
	Net interest income (TE) (1)	256,677			251,833			1.9		257,562			(0.3	)
	Total revenues	314,164			302,993			3.7		310,053			1.3
	Provision for credit losses	10,755			13,763			(21.9	)	7,696			39.7
	Non-interest expense	169,618			158,753			6.8		196,776			(13.8	)
	Net income available to common shareholders	100,649			96,533			4.3		74,175			35.7
PER COMMON SHARE DATA:
	Earnings available to common shareholders - basic	$	1.87		$	1.76		6.3		$	1.31		42.7
	Earnings available to common shareholders - diluted	1.86			1.75			6.3		1.30			43.1
	Core earnings (Non-GAAP)(2)	1.87			1.72			8.7		1.71			9.4
	Book value	75.93			73.50			3.3		67.06			13.2
	Tangible book value (Non-GAAP) (2) (3)	51.20			49.48			3.5		43.75			17.0
	Closing stock price	75.85			71.71			5.8		75.80			0.1
	Cash dividends	0.43			0.43			—		0.38			13.2
KEY RATIOS AND OTHER DATA (6):
	Net interest margin (TE) (1)	3.57		%	3.59		%			3.76		%
	Efficiency ratio	54.0			52.4					63.5
	Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2) (3)	52.0			51.3					54.3
	Return on average assets	1.30			1.32					1.01
	Return on average common equity	10.05			9.85					7.87
	Core return on average tangible common equity (Non-GAAP) (2)(3)	15.58			15.03					16.70
	Effective tax rate	24.1			23.3					28.8
	Full-time equivalent employees	3,418			3,384					3,543
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (2) (3)	8.97		%	9.01		%			8.56		%
	Tangible common equity to risk-weighted assets (3)	10.45			10.60					10.18
	Tier 1 leverage ratio (4)	9.71			9.67					9.54
	Common equity Tier 1 (CET 1) ratio(4)	10.38			10.73					10.72
	Tier 1 capital ratio (4)	11.26			11.24					11.27
	Total risk-based capital ratio (4)	12.34			12.33					12.37
	Common stock dividend payout ratio	22.6			24.3					28.9
	Classified assets to Tier 1 capital (7)	10.4			11.0					14.7

11

ASSET QUALITY RATIOS:
	Non-performing assets to total assets (5)	0.60	%	0.58	%	0.54	%
	ALLL to total loans and leases	0.63		0.62		0.62
	Net charge-offs to average loans (annualized)	0.14		0.13		0.21
	Non-performing assets to total loans and OREO (5)	0.80		0.79		0.74
(1)	Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2)	See Table 9 and Table 10 for GAAP to Non-GAAP reconciliations.
(3)	Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.
(4)	Regulatory capital ratios as of June 30, 2019 are preliminary.
(5)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets. For purposes of this table, past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
(6)	All ratios are calculated on an annualized basis for the periods indicated.
(7)	Classified assets include loans rated substandard or worse, non-performing mortgage and consumer loans, and OREO and foreclosed property and include acquired impaired loans accounted for under ASC 310-30.

12

Table 2 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Dollars in thousands, except per share data)
	For the Three Months Ended
						Linked Qtr Change											Year/Year Change
	6/30/2019			3/31/2019		$		%		12/31/2018			9/30/2018		6/30/2018		$		%
Interest income	$	335,967		$	326,084	9,883		3.0		$	330,196		$	317,067	$	303,823	32,144		10.6
Interest expense	80,628			75,600		5,028		6.7		65,175			57,842		47,710		32,918		69.0
Net interest income	255,339			250,484		4,855		1.9		265,021			259,225		256,113		(774	)	(0.3	)
Provision for credit losses	10,755			13,763		(3,008	)	(21.9	)	13,094			11,384		7,696		3,059		39.7
Net interest income after provision for credit losses	244,584			236,721		7,863		3.3		251,927			247,841		248,417		(3,833	)	(1.5	)
Mortgage income	18,444			11,849		6,595		55.7		10,379			12,729		13,721		4,723		34.4
Service charges on deposit accounts	12,847			12,810		37		0.3		13,425			13,520		12,950		(103	)	(0.8	)
Title revenue	6,895			5,225		1,670		32.0		5,996			6,280		6,846		49		0.7
Broker commissions	2,044			1,953		91		4.7		1,951			2,627		2,396		(352	)	(14.7	)
ATM/debit card fee income	3,032			2,582		450		17.4		2,267			2,470		2,925		107		3.7
Income from bank owned life insurance	1,750			1,797		(47	)	(2.6	)	2,023			1,744		1,261		489		38.8
(Loss) gain on sale of available-for-sale securities	(1,014		)	—		(1,014	)	(100.0	)	(49,844		)	—		3		(1,017	)	(33,900.0	)
Trust department income	4,388			4,167		221		5.3		4,319			3,993		4,243		145		3.4
Other non-interest income	10,439			12,126		(1,687	)	(13.9	)	10,453			9,724		9,595		844		8.8
Total non-interest income	58,825			52,509		6,316		12.0		969			53,087		53,940		4,885		9.1
Salaries and employee benefits	103,375			98,296		5,079		5.2		101,551			101,159		107,445		(4,070	)	(3.8	)
Occupancy and equipment	18,999			18,564		435		2.3		18,379			18,889		19,931		(932	)	(4.7	)
Amortization of acquisition intangibles	4,786			5,009		(223	)	(4.5	)	5,083			5,382		6,111		(1,325	)	(21.7	)
Computer services expense	9,383			9,157		226		2.5		8,942			9,036		9,309		74		0.8
Professional services	6,244			4,450		1,794		40.3		8,628			5,519		7,160		(916	)	(12.8	)
Credit and other loan related expense	4,141			2,859		1,282		44.8		4,776			4,830		5,089		(948	)	(18.6	)
Other non-interest expense	22,690			20,418		2,272		11.1		21,630			24,247		41,731		(19,041	)	(45.6	)
Total non-interest expense	169,618			158,753		10,865		6.8		168,989			169,062		196,776		(27,158	)	(13.8	)
Income before income taxes	133,791			130,477		3,314		2.5		83,907			131,866		105,581		28,210		26.7
Income tax expense (benefit)	32,193			30,346		1,847		6.1		(46,132		)	30,401		30,457		1,736		5.7
Net income	101,598			100,131		1,467		1.5		130,039			101,465		75,124		26,474		35.2
Less: Preferred stock dividends	949			3,598		(2,649	)	(73.6	)	949			3,599		949		—		—
Net income available to common shareholders	$	100,649		$	96,533	4,116		4.3		$	129,090		$	97,866	$	74,175	26,474		35.7
Income available to common shareholders - basic	$	100,649		$	96,533	4,116		4.3		$	129,090		$	97,866	$	74,175	26,474		35.7

13

Less: Earnings allocated to unvested restricted stock	999		933			66		7.1		1,214			908		767		232		30.2
Earnings allocated to common shareholders	$	99,650	$	95,600		4,050		4.2		$	127,876		$	96,958	$	73,408	26,242		35.7
Earnings per common share - basic	$	1.87	$	1.76		0.11		6.3		$	2.33		$	1.74	$	1.31	0.56		42.7
Earnings per common share - diluted	1.86		1.75			0.11		6.3		2.32			1.73		1.30		0.56		43.1
Impact of non-core items (Non-GAAP) (1)	0.01		(0.03		)	0.04		133.3		(0.46		)	0.01		0.41		(0.40	)	(97.6	)
Earnings per share - diluted, excluding non-core items (Non-GAAP)(1)	$	1.87	$	1.72		0.15		8.7		$	1.86		$	1.74	$	1.71	0.16		9.4
NUMBER OF COMMON SHARES OUTSTANDING (in thousands)
Weighted average common shares outstanding - basic	53,345		54,177			(832	)	(1.5	)	54,892			55,571		55,931		(2,586	)	(4.6	)
Weighted average common shares outstanding - diluted	53,674		54,539			(865	)	(1.6	)	55,215			55,945		56,287		(2,613	)	(4.6	)
Book value shares (period end)	52,805		54,551			(1,746	)	(3.2	)	54,796			56,007		56,390		(3,585	)	(6.4	)
(1)  See Table 9 and Table 10 for GAAP to Non-GAAP reconciliations.

14

Table 3 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Dollars in thousands, except per share data)
	For the Six Months Ended
							Change
	6/30/2019			6/30/2018			$		%
Interest income	$	662,051		$	574,366		87,685		15.3
Interest expense	156,228			85,364			70,864		83.0
Net interest income	505,823			489,002			16,821		3.4
Provision for credit losses	24,518			15,907			8,611		54.1
Net interest income after provision for credit losses	481,305			473,095			8,210		1.7
Mortgage income	30,293			23,316			6,977		29.9
Service charges on deposit accounts	25,657			25,858			(201	)	(0.8	)
Title revenue	12,120			11,873			247		2.1
Broker commissions	3,997			4,617			(620	)	(13.4	)
ATM/debit card fee income	5,614			5,558			56		1.0
Income from bank owned life insurance	3,547			2,543			1,004		39.5
(Loss) gain on sale of available-for-sale securities	(1,014		)	(56		)	(958	)	(1,710.7	)
Trust department income	8,555			7,669			886		11.6
Other non-interest income	22,565			17,128			5,437		31.7
Total non-interest income	111,334			98,506			12,828		13.0
Salaries and employee benefits	201,671			212,031			(10,360	)	(4.9	)
Occupancy and equipment	37,563			39,978			(2,415	)	(6.0	)
Amortization of acquisition intangibles	9,795			11,213			(1,418	)	(12.6	)
Computer services expense	18,540			21,702			(3,162	)	(14.6	)
Professional services	10,694			14,551			(3,857	)	(26.5	)
Credit and other loan related expense	7,000			9,482			(2,482	)	(26.2	)
Other non-interest expense	43,108			75,890			(32,782	)	(43.2	)
Total non-interest expense	328,371			384,847			(56,476	)	(14.7	)
Income before income taxes	264,268			186,754			77,514		41.5
Income tax expense	62,539			48,009			14,530		30.3
Net income	201,729			138,745			62,984		45.4
Less: Preferred stock dividends	4,547			4,547			—		—
Net income available to common shareholders	$	197,182		$	134,198		62,984		46.9
Income available to common shareholders - basic	$	197,182		$	134,198		62,984		46.9
Less: Earnings allocated to unvested restricted stock	1,931			1,409			522		37.0
Earnings allocated to common shareholders	$	195,251		$	132,789		62,462		47.0
Earnings per common share - basic	$	3.63		$	2.42		1.21		50.0
Earnings per common share - diluted	3.61			2.41			1.20		49.8
Impact of non-core items (Non-GAAP) (1)	(0.01		)	0.68			(0.69	)	(101.5	)
Earnings per share - diluted, excluding non-core items (Non-GAAP) (1)	$	3.60		$	3.09		0.51		16.5

15

NUMBER OF COMMON SHARES OUTSTANDING (in thousands)
Weighted average common shares outstanding - basic	53,758	54,780	(1,022	)	(1.9	)
Weighted average common shares outstanding - diluted	54,104	55,133	(1,029	)	(1.9	)
Book value shares (period end)	52,805	56,390	(3,585	)	(6.4	)
(1) See Table 9 and Table 10 for GAAP to Non-GAAP reconciliations.

16

TABLE 4 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
PERIOD-END BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	6/30/2019			3/31/2019			$		%		12/31/2018			9/30/2018			6/30/2018			$		%
Cash and due from banks	$	289,502		$	280,680		8,822		3.1		$	294,186		$	291,083		$	299,268		(9,766	)	(3.3	)
Interest-bearing deposits in other banks	499,813			391,217			108,596		27.8		396,267			184,852			428,120			71,693		16.7
Total cash and cash equivalents	789,315			671,897			117,418		17.5		690,453			475,935			727,388			61,927		8.5
Investment securities available for sale	4,455,308			4,873,778			(418,470	)	(8.6	)	4,783,579			4,634,124			4,650,915			(195,607	)	(4.2	)
Investment securities held to maturity	192,917			198,958			(6,041	)	(3.0	)	207,446			213,561			221,030			(28,113	)	(12.7	)
Total investment securities	4,648,225			5,072,736			(424,511	)	(8.4	)	4,991,025			4,847,685			4,871,945			(223,720	)	(4.6	)
Mortgage loans held for sale	187,987			128,451			59,536		46.3		107,734			42,976			78,843			109,144		138.4
Loans and leases, net of unearned income	23,355,311			22,968,295			387,016		1.7		22,519,815			22,343,906			22,075,783			1,279,528		5.8
Allowance for loan and lease losses	(146,386		)	(142,966		)	(3,420	)	2.4		(140,571		)	(136,950		)	(136,576		)	(9,810	)	7.2
Loans and leases, net	23,208,925			22,825,329			383,596		1.7		22,379,244			22,206,956			21,939,207			1,269,718		5.8
Premises and equipment, net	295,897			297,342			(1,445	)	(0.5	)	300,507			304,605			326,213			(30,316	)	(9.3	)
Goodwill and other intangible assets	1,317,151			1,319,992			(2,841	)	(0.2	)	1,324,269			1,313,478			1,320,664			(3,513	)	(0.3	)
Other assets	999,032			944,442			54,590		5.8		1,039,783			926,752			861,902			137,130		15.9
Total assets	$	31,446,532		$	31,260,189		186,343		0.6		$	30,833,015		$	30,118,387		$	30,126,162		1,320,370		4.4
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	6,474,394		$	6,448,613		25,781		0.4		$	6,542,490		$	6,544,926		$	6,814,441		(340,047	)	(5.0	)
NOW accounts	4,610,577			4,452,966			157,611		3.5		4,514,113			4,247,533			4,453,152			157,425		3.5
Savings and money market accounts	8,895,463			9,119,263			(223,800	)	(2.5	)	9,066,205			9,159,036			9,318,331			(422,868	)	(4.5	)
Time deposits	4,314,897			4,071,220			243,677		6.0		3,640,623			3,241,951			2,844,534			1,470,363		51.7
Total deposits	24,295,331			24,092,062			203,269		0.8		23,763,431			23,193,446			23,430,458			864,873		3.7
Short-term borrowings	813,000			845,000			(32,000	)	(3.8	)	1,167,000			790,000			595,000			218,000		36.6
Securities sold under agreements to repurchase	184,507			261,131			(76,624	)	(29.3	)	315,882			452,719			459,213			(274,706	)	(59.8	)
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	1,254,649			1,355,345			(100,696	)	(7.4	)	1,046,041			1,346,700			1,318,504			(63,855	)	(4.8	)
Other liabilities	540,935			444,710			96,225		21.6		364,274			273,051			289,468			251,467		86.9
Total liabilities	27,208,532			27,118,358			90,174		0.3		26,776,738			26,176,026			26,212,753			995,779		3.8
Total shareholders' equity	4,238,000			4,141,831			96,169		2.3		4,056,277			3,942,361			3,913,409			324,591		8.3
Total liabilities and shareholders' equity	$	31,446,532		$	31,260,189		186,343		0.6		$	30,833,015		$	30,118,387		$	30,126,162		1,320,370		4.4

17

TABLE 4 Continued - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
AVERAGE BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	6/30/2019			3/31/2019			$		%		12/31/2018			9/30/2018			6/30/2018			$		%
Cash and due from banks	$	275,917		$	291,659		(15,742	)	(5.4	)	$	281,509		$	279,918		$	296,907		(20,990	)	(7.1	)
Interest-bearing deposits in other banks	436,948			332,638			104,310		31.4		385,619			259,455			392,906			44,042		11.2
Total cash and cash equivalents	712,865			624,297			88,568		14.2		667,128			539,373			689,813			23,052		3.3
Investment securities available for sale	4,650,757			4,816,855			(166,098	)	(3.4	)	4,567,564			4,673,454			4,629,177			21,580		0.5
Investment securities held to maturity	195,639			202,601			(6,962	)	(3.4	)	211,333			216,419			222,764			(27,125	)	(12.2	)
Total investment securities	4,846,396			5,019,456			(173,060	)	(3.4	)	4,778,897			4,889,873			4,851,941			(5,545	)	(0.1	)
Mortgage loans held for sale	159,931			95,588			64,343		67.3		63,033			87,823			72,917			87,014		119.3
Loans and leases, net of unearned income	23,120,689			22,599,686			521,003		2.3		22,364,188			22,162,373			21,830,720			1,289,969		5.9
Allowance for loan and lease losses	(145,854		)	(140,915		)	(4,939	)	3.5		(138,675		)	(139,075		)	(145,565		)	(289	)	0.2
Loans and leases, net	22,974,835			22,458,771			516,064		2.3		22,225,513			22,023,298			21,685,155			1,289,680		5.9
Premises and equipment, net	298,119			299,741			(1,622	)	(0.5	)	302,956			315,259			327,686			(29,567	)	(9.0	)
Goodwill and other intangible assets	1,318,182			1,322,288			(4,106	)	(0.3	)	1,318,200			1,316,527			1,338,420			(20,238	)	(1.5	)
Other assets	961,494			1,013,359			(51,865	)	(5.1	)	977,740			874,078			804,920			156,574		19.5
Total assets	$	31,271,822		$	30,833,500		438,322		1.4		$	30,333,467		$	30,046,231		$	29,770,852		1,500,970		5.0
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	6,442,217		$	6,271,313		170,904		2.7		$	6,646,071		$	6,684,343		$	6,795,878		(353,661	)	(5.2	)
NOW accounts	4,488,691			4,458,634			30,057		0.7		4,212,304			4,296,392			4,494,064			(5,373	)	(0.1	)
Savings and money market accounts	9,014,822			9,089,099			(74,277	)	(0.8	)	9,169,184			9,237,614			9,146,302			(131,480	)	(1.4	)
Time deposits	4,156,974			3,859,354			297,620		7.7		3,457,017			3,023,180			2,719,627			1,437,347		52.9
Total deposits	24,102,704			23,678,400			424,304		1.8		23,484,576			23,241,529			23,155,871			946,833		4.1
Short-term borrowings	782,516			859,576			(77,060	)	(9.0	)	602,593			820,087			609,965			172,551		28.3
Securities sold under agreements to repurchase	214,090			291,643			(77,553	)	(26.6	)	386,563			376,078			427,508			(213,418	)	(49.9	)
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	1,345,575			1,343,752			1,823		0.1		1,308,086			1,260,900			1,261,515			84,060		6.7
Other liabilities	463,803			434,516			29,287		6.7		470,501			292,445			281,820			181,983		64.6
Total liabilities	27,028,798			26,727,997			300,801		1.1		26,372,429			26,111,149			25,856,789			1,172,009		4.5
Total shareholders' equity	4,243,024			4,105,503			137,521		3.3		3,961,038			3,935,082			3,914,063			328,961		8.4
Total liabilities and shareholders' equity	$	31,271,822		$	30,833,500		438,322		1.4		$	30,333,467		$	30,046,231		$	29,770,852		1,500,970		5.0

18

Table 5 - IBERIABANK CORPORATION
LOANS AND ASSET QUALITY DATA
(Dollars in thousands)
							Linked Qtr Change													Year/Year Change
LOANS	6/30/2019			3/31/2019			$		%		12/31/2018			9/30/2018			6/30/2018			$		%
Commercial loans and leases:
Real estate- construction	$	1,342,984		$	1,219,647		123,337		10.1		$	1,196,366		$	1,127,988		$	1,183,367		159,617		13.5
Real estate- owner-occupied (1)	2,373,143			2,408,079			(34,936	)	(1.5	)	2,395,822			2,458,964			2,455,685			(82,542	)	(3.4	)
Real estate- non-owner occupied	6,102,143			6,147,864			(45,721	)	(0.7	)	5,796,117			5,794,931			5,653,252			448,891		7.9
Commercial and industrial (6)	6,161,759			5,852,568			309,191		5.3		5,737,017			5,581,040			5,512,416			649,343		11.8
Total commercial loans and leases	15,980,029			15,628,158			351,871		2.3		15,125,322			14,962,923			14,804,720			1,175,309		7.9
Residential mortgage loans	4,538,194			4,415,267			122,927		2.8		4,359,156			4,300,163			4,124,538			413,656		10.0
Consumer and other loans:
Home equity	2,147,897			2,220,648			(72,751	)	(3.3	)	2,304,694			2,350,176			2,410,617			(262,720	)	(10.9	)
Other	689,191			704,222			(15,031	)	(2.1	)	730,643			730,644			735,908			(46,717	)	(6.3	)
Total consumer and other loans	2,837,088			2,924,870			(87,782	)	(3.0	)	3,035,337			3,080,820			3,146,525			(309,437	)	(9.8	)
Total loans and leases	$	23,355,311		$	22,968,295		387,016		1.7		$	22,519,815		$	22,343,906		$	22,075,783		1,279,528		5.8
Allowance for loan and lease losses (2)	$	(146,386	)	$	(142,966	)	(3,420	)	(2.4	)	$	(140,571	)	$	(136,950	)	$	(136,576	)	(9,810	)	(7.2	)
Loans and leases, net	23,208,925			22,825,329			383,596		1.7		22,379,244			22,206,956			21,939,207			1,269,718		5.8
Reserve for unfunded commitments	(15,281		)	(15,981		)	700		4.4		(14,830		)	(14,721		)	(14,433		)	(848	)	(5.9	)
Allowance for credit losses	(161,667		)	(158,947		)	(2,720	)	(1.7	)	(155,401		)	(151,671		)	(151,009		)	(10,658	)	(7.1	)
ASSET QUALITY DATA
Non-accrual loans (3)	$	158,992		$	148,056		10,936		7.4		$	137,184		$	143,595		$	131,155		27,837		21.2
Other real estate owned and foreclosed assets	28,106			30,606			(2,500	)	(8.2	)	30,394			32,418			22,267			5,839		26.2
Accruing loans more than 90 days past due (3)	851			4,111			(3,260	)	(79.3	)	2,128			12,452			9,314			(8,463	)	(90.9	)
Total non-performing assets (3)(4)	$	187,949		$	182,773		5,176		2.8		$	169,706		$	188,465		$	162,736		25,213		15.5
Loans 30-89 days past due (3)	$	43,021		$	45,334		(2,313	)	(5.1	)	$	57,332		$	70,624		$	43,159		(138	)	(0.3	)
Non-performing assets to total assets (3)(4)	0.60		%	0.58		%					0.55		%	0.63		%	0.54		%
Non-performing assets to total loans and OREO (3)(4)	0.80			0.79							0.75			0.84			0.74
ALLL to non-performing loans (3)(5)	91.6			94.0							100.9			87.8			97.2
ALLL to non-performing assets (3)(4)	77.9			78.2							82.8			72.7			83.9
ALLL to total loans and leases	0.63			0.62							0.62			0.61			0.62

19

Quarter-to-date charge-offs	$	10,275		$	8,918		1,357		15.2		$	10,806		$	12,006		$	13,618		(3,343	)	(24.5	)
Quarter-to-date recoveries	(2,218		)	(1,586		)	(632	)	(39.8	)	(3,097		)	(3,049		)	(1,968		)	(250	)	(12.7	)
Quarter-to-date net charge-offs	$	8,057		$	7,332		725		9.9		$	7,709		$	8,957		$	11,650		(3,593	)	(30.8	)
Net charge-offs to average loans (annualized)	0.14		%	0.13		%					0.14		%	0.16		%	0.21		%
(1) Real estate- owner-occupied is defined as loans with a "1E1" call report code (loans secured by owner-occupied non-farm non-residential properties).
(2) The allowance for loan and lease losses includes impairment reserves attributable to acquired impaired loans.
(3) For purposes of this table, past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
(4) Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.
(5) Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.
(6) Includes equipment financing leases.

20

TABLE 6 - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	6/30/2019							3/31/2019						Basis Point Change
ASSETS	Average Balance			Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	15,766,423		$	205,093	5.24	%	$	15,253,655	$	194,510	5.19	%	5
Residential mortgage loans	4,482,150			49,388		4.41		4,385,634		47,829		4.36		5
Consumer and other loans	2,872,116			42,205		5.89		2,960,397		42,540		5.83		6
Total loans and leases	23,120,689			296,686		5.16		22,599,686		284,879		5.11		5
Mortgage loans held for sale	159,931			1,588		3.97		95,588		1,054		4.41		(44)
Investment securities (2)	4,853,858			33,803		2.83		5,052,922		36,125		2.90		(7)
Other earning assets	639,232			3,890		2.44		533,745		4,026		3.06		(62)
Total earning assets	28,773,710			335,967		4.70		28,281,941		326,084		4.68		2
Allowance for loan and lease losses	(145,854		)					(140,915)
Non-earning assets	2,643,966							2,692,474
Total assets	$	31,271,822						$	30,833,500
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	4,488,691		$	11,623	1.04	%	$	4,458,634	$	11,396	1.04	%	0
Savings and money market accounts	9,014,822			30,845		1.37		9,089,099		28,762		1.28		9
Time deposits	4,156,974			23,398		2.26		3,859,354		20,077		2.11		15
Total interest-bearing deposits (3)	17,660,487			65,866		1.50		17,407,087		60,235		1.40		10
Short-term borrowings	996,606			5,197		2.09		1,151,219		5,716		2.01		8
Long-term debt	1,465,685			9,565		2.62		1,463,862		9,649		2.67		(5)
Total interest-bearing liabilities	20,122,778			80,628		1.61		20,022,168		75,600		1.53		8
Non-interest-bearing deposits	6,442,217							6,271,313
Non-interest-bearing liabilities	463,803							434,516
Total liabilities	27,028,798							26,727,997
Total shareholders' equity	4,243,024							4,105,503
Total liabilities and shareholders' equity	$	31,271,822						$	30,833,500
Net interest income/Net interest spread				$	255,339	3.09	%			$	250,484	3.15	%	(6)
Taxable equivalent benefit				1,338		0.02				1,349		0.02		—
Net interest income (TE)/Net interest margin (TE) (1)				$	256,677	3.57	%			$	251,833	3.59	%	(2)
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the three months ended June 30, 2019 and March 31, 2019 were 1.10% and 1.03%, respectively.

21

TABLE 6 Continued - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	12/31/2018						9/30/2018						6/30/2018
ASSETS	Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	14,978,169	$	196,881	5.24	%	$	14,825,572	$	191,014	5.13	%	$	14,631,985	$	178,830	4.92	%
Residential mortgage loans	4,345,811		53,836		4.96		4,230,471		48,145		4.55		4,041,259		47,215		4.67
Consumer and other loans	3,040,208		44,275		5.78		3,106,330		43,966		5.62		3,157,476		44,431		5.64
Total loans and leases	22,364,188		294,992		5.26		22,162,373		283,125		5.09		21,830,720		270,476		4.98
Mortgage loans held for sale	63,033		721		4.58		87,823		1,037		4.72		72,917		836		4.59
Investment securities (2)	4,782,844		30,559		2.61		5,016,163		29,793		2.43		4,958,769		29,325		2.42
Other earning assets	581,673		3,924		2.68		456,120		3,112		2.71		580,477		3,186		2.20
Total earning assets	27,791,738		330,196		4.74		27,722,479		317,067		4.57		27,442,883		303,823		4.46
Allowance for loan and lease losses	(138,675)						(139,075)						(145,565)
Non-earning assets	2,680,404						2,462,827						2,473,534
Total assets	$	30,333,467					$	30,046,231					$	29,770,852
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	4,212,304	$	9,420	0.89	%	$	4,296,392	$	8,841	0.82	%	$	4,494,064	$	8,620	0.77	%
Savings and money market accounts	9,169,184		26,062		1.13		9,237,614		23,076		0.99		9,146,302		18,434		0.81
Time deposits	3,457,017		16,666		1.91		3,023,180		12,484		1.64		2,719,627		9,105		1.34
Total interest-bearing deposits (3)	16,838,505		52,148		1.23		16,557,186		44,401		1.06		16,359,993		36,159		0.89
Short-term borrowings	989,156		4,104		1.65		1,196,165		4,727		1.57		1,037,473		3,327		1.29
Long-term debt	1,428,196		8,923		2.48		1,381,010		8,714		2.50		1,381,625		8,224		2.39
Total interest-bearing liabilities	19,255,857		65,175		1.34		19,134,361		57,842		1.20		18,779,091		47,710		1.02
Non-interest-bearing deposits	6,646,071						6,684,343						6,795,878
Non-interest-bearing liabilities	470,501						292,445						281,820
Total liabilities	26,372,429						26,111,149						25,856,789
Total shareholders' equity	3,961,038						3,935,082						3,914,063
Total liabilities and shareholders' equity	$	30,333,467					$	30,046,231					$	29,770,852
Net interest income/Net interest spread			$	265,021	3.40	%			$	259,225	3.37	%			$	256,113	3.44	%
Taxable equivalent benefit			1,427		0.02				1,461		0.02				1,449		0.02
Net interest income (TE)/Net interest margin (TE) (1)			$	266,448	3.81	%			$	260,686	3.74	%			$	257,562	3.76	%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the three months ended December 31, 2018, September 30, 2018, and June 30, 2018, were 0.88%, 0.76% and 0.63%, respectively.

22

TABLE 7 - IBERIABANK CORPORATION
YEAR-TO-DATE AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Six Months Ended
	6/30/2019							6/30/2018						Basis Point Change
ASSETS	Average Balance			Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	15,511,456		$	399,603	5.22	%	$	14,361,314	$	343,490	4.84	%	38
Residential mortgage loans	4,434,159			97,217		4.38		3,598,974		81,709		4.54		(16)
Consumer and other loans	2,916,013			84,745		5.86		3,050,324		83,346		5.51		35
Total loans and leases	22,861,628			581,565		5.14		21,010,612		508,545		4.89		25
Mortgage loans held for sale	127,937			2,642		4.13		90,873		1,990		4.38		(25)
Investment securities (2)	4,952,840			69,928		2.87		4,901,427		57,419		2.40		47
Other earning assets	586,780			7,916		2.72		629,915		6,412		2.05		67
Total earning assets	28,529,185			662,051		4.69		26,632,827		574,366		4.36		33
Allowance for loan and lease losses	(143,398		)					(144,934)
Non-earning assets	2,668,085							2,468,169
Total assets	$	31,053,872						$	28,956,062
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	4,473,746		$	23,020	1.04	%	$	4,429,171	$	15,701	0.71	%	33
Savings and money market accounts	9,051,755			59,606		1.33		8,906,526		33,013		0.75		58
Time deposits	4,008,986			43,475		2.19		2,596,241		15,689		1.22		97
Total interest-bearing deposits (3)	17,534,487			126,101		1.45		15,931,938		64,403		0.82		63
Short-term borrowings	1,073,485			10,913		2.05		1,010,843		5,851		1.17		88
Long-term debt	1,464,779			19,214		2.65		1,379,487		15,110		2.21		44
Total interest-bearing liabilities	20,072,751			156,228		1.57		18,322,268		85,364		0.94		63
Non-interest-bearing deposits	6,357,237							6,538,622
Non-interest-bearing liabilities	449,240							278,861
Total liabilities	26,879,228							25,139,751
Total shareholders' equity	4,174,644							3,816,311
Total liabilities and shareholders' equity	$	31,053,872						$	28,956,062
Net interest income/Net interest spread				$	505,823	3.12	%			$	489,002	3.42	%	(30)
Tax-equivalent benefit				2,679		0.02				2,910		0.02		—
Net interest income (TE)/Net interest margin (TE) (1)				$	508,502	3.58	%			$	491,912	3.72	%	(14)
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the six months ended June 30, 2019 and 2018 were 1.06% and 0.58%, respectively.

23

Table 8 - IBERIABANK CORPORATION
LEGACY AND ACQUIRED LOAN PORTFOLIO VOLUMES AND YIELDS
(Dollars in millions)
	For the Three Months Ended
	6/30/2019							3/31/2019							12/31/2018							9/30/2018							6/30/2018
AS REPORTED (US GAAP)	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	225		$	17,984	5.00	%	$	213		$	17,192	5.02	%	$	209		$	16,616	4.99	%	$	193		$	15,957	4.80	%	$	179		$	15,217	4.73	%
Acquired loans	72			5,137		5.64		72			5,408		5.35		86			5,748		5.97		90			6,205		5.78		91			6,614		5.51
Total loans	$	297		$	23,121	5.14	%	$	285		$	22,600	5.10	%	$	295		$	22,364	5.24	%	$	283		$	22,162	5.08	%	$	270		$	21,831	4.97	%
	6/30/2019							3/31/2019							12/31/2018							9/30/2018							6/30/2018
ADJUSTMENTS	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	—		$	—	0.00	%	$	—		$	—	0.00	%	$	—		$	—	0.00	%	$	—		$	—	0.00	%	$	—		$	—	0.00	%
Acquired loans	(14		)	124		(1.15	)	(11		)	136		(0.92	)	(19		)	144		(1.46	)	(17		)	144		(1.23	)	(16		)	142		(1.12	)
Total loans	$	(14	)	$	124	(0.25	)%	$	(11	)	$	136	(0.22	)%	$	(19	)	$	144	(0.38	)%	$	(17	)	$	144	(0.35	)%	$	(16	)	$	142	(0.34	)%
	6/30/2019							3/31/2019							12/31/2018							9/30/2018							6/30/2018
AS ADJUSTED (CASH YIELD, NON-GAAP)	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	225		$	17,984	5.00	%	$	213		$	17,192	5.02	%	$	209		$	16,616	4.99	%	$	193		$	15,957	4.80	%	$	179		$	15,217	4.73	%
Acquired loans	58			5,261		4.49		61			5,544		4.43		67			5,892		4.51		73			6,349		4.55		75			6,756		4.39
Total loans	$	283		$	23,245	4.89	%	$	274		$	22,736	4.88	%	$	276		$	22,508	4.86	%	$	266		$	22,306	4.73	%	$	254		$	21,973	4.63	%

24

Table 9 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands, except per share amounts)
	For the Three Months Ended
	6/30/2019								3/31/2019									12/31/2018
	Pre-tax			After-tax			Per share (2)		Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)
Net income	$	133,791		$	101,598		$	1.88	$	130,477		$	100,131		$	1.82		$	83,907		$	130,039		$	2.34
Less: Preferred stock dividends	—			949			0.02		—			3,598			0.07			—			949			0.02
Income available to common shareholders (GAAP)	$	133,791		$	100,649		$	1.86	$	130,477		$	96,533		$	1.75		$	83,907		$	129,090		$	2.32
Non-interest income adjustments (1)(3):
Loss (gain) on sale of investments	1,012			769			0.01		—			—			—			49,844			37,882			0.68
Other non-core non-interest income	—			—			—		—			—			—			415			316			—
Total non-interest income adjustments	1,012			769			0.01		—			—			—			50,259			38,198			0.68
Non-interest expense adjustments (1)(3):
Merger-related expense	(10		)	(7		)	—		(334		)	(254		)	—			(238		)	(353		)	—
Compensation-related expense	—			—			—		(9		)	(7		)	—			184			140			—
Impairment of long-lived assets, net of (gain) loss on sale	(22		)	(17		)	—		986			749			0.01			64			49			—
Other non-core non-interest expense	107			81			—		(3,129		)	(2,378		)	(0.04		)	2,600			1,976			0.04
Total non-interest expense adjustments	75			57			—		(2,486		)	(1,890		)	(0.03		)	2,610			1,812			0.04
Income tax expense (benefit) - impact of the Tax Cuts and Jobs Act	—			—			—		—			—			—			—			(65,317		)	(1.18		)
Core earnings (Non-GAAP)	134,878			101,475			1.87		127,991			94,643			1.72			136,776			103,783			1.86
Provision for credit losses (1)	10,755			8,174					13,763			10,460						13,094			9,951
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	145,633		$	109,649				$	141,754		$	105,103					$	149,870		$	113,734
	For the Three Months Ended
	9/30/2018								6/30/2018
	Pre-tax			After-tax			Per share (2)		Pre-tax			After-tax			Per share (2)
Net income	$	131,866		$	101,465		$	1.79	$	105,581		$	75,124		$	1.32
Less: Preferred stock dividends	—			3,599			0.06		—			949			0.02
Income available to common shareholders (GAAP)	$	131,866		$	97,866		$	1.73	$	105,581		$	74,175		$	1.30
Non-interest income adjustments (1)(3):
(Gain) loss on sale of investments	(1		)	(1		)	—		(3		)	(2		)	—
Non-interest expense adjustments (1)(3):
Merger-related expense	973			743			0.01		14,333			11,012			0.20
Compensation-related expense	1,104			839			0.01		1,781			1,354			0.02

25

Impairment of long-lived assets, net of (gain) loss on sale	3,286			2,497			0.05		5,413			4,114			0.07
Gain on early termination of loss share agreements	(2,708		)	(2,058		)	(0.04	)	—			—			—
Other non-core non-interest expense	(1,955		)	(1,486		)	(0.02	)	(95		)	(72		)	—
Total non-interest expense adjustments	700			535			0.01		21,432			16,408			0.29
Income tax expense - impact of the Tax Cuts and Jobs Act	—			—			—		—			6,572			0.12
Core earnings (Non-GAAP)	132,565			98,400			1.74		127,010			97,153			1.71
Provision for credit losses (1)	11,384			8,652					7,696			5,849
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	143,949		$	107,052				$	134,706		$	103,002
(1) Excluding preferred stock dividends and merger-related expense, after-tax amounts are calculated using a tax rate of 24%, which approximates the marginal tax rate.
(2) Diluted per share amounts may not appear to foot due to rounding.
(3) Adjustments to GAAP results include certain significant activities or transactions that, in management's opinion, can distort period-to-period comparisons of the Company's performance. These adjustments include, but are not limited to, realized and unrealized gains or losses on former bank-owned real estate, realized gains or losses on the sale of investment securities, merger-related expenses, and gains, losses, and impairment charges on long-lived assets.

26

	For the Six Months Ended
	6/30/2019									6/30/2018
	Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)
Net income	$	264,268		$	201,729		$	3.69		$	186,754		$	138,745		$	2.49
Less: Preferred stock dividends	—			4,547			0.08			—			4,547			0.08
Income available to common shareholders (GAAP)	$	264,268		$	197,182		$	3.61		$	186,754		$	134,198		$	2.41
Non-interest income adjustments (1)(3):
Loss (gain) on sale of investments	1,012			769			0.01			56			42			—
Non-interest expense adjustments (1)(3):
Merger-related expense	(344		)	(261		)	—			30,560			23,529			0.43
Compensation-related expense	(9		)	(7		)	—			3,002			2,282			0.04
Impairment of long-lived assets, net of (gain) loss on sale	964			732			0.01			7,487			5,690			0.10
Other non-core non-interest expense	(3,022		)	(2,297		)	(0.04		)	(778		)	(592		)	(0.01		)
Total non-interest expense adjustments	(2,411		)	(1,833		)	(0.03		)	40,271			30,909			0.56
Income tax expense (benefit) - impact of the Tax Cuts and Jobs Act	—			—			—			—			6,572			0.12
Income tax expense (benefit) - other	—			—			—			—			173			—
Core earnings (Non-GAAP)	262,869			196,118			3.59			227,081			171,894			3.09
Provision for credit losses (1)	24,518			18,634						15,907			12,089
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	287,387		$	214,752					$	242,988		$	183,983
(1) Excluding preferred stock dividends and merger-related expense, after-tax amounts are calculated using a tax rate of 24% , which approximates the marginal tax rate.
(2) Diluted per share amounts may not appear to foot due to rounding.
(3) Adjustments to GAAP results include certain significant activities or transactions that, in management's opinion, can distort period-to-period comparisons of the Company's performance. These adjustments include, but are not limited to, realized and unrealized gains or losses on former bank-owned real estate, realized gains or losses on the sale of investment securities, merger-related expenses, and gains, losses, and impairment charges on long-lived assets.

27

Table 10 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands)
	For the Three Months Ended
	6/30/2019			3/31/2019			12/31/2018			9/30/2018			6/30/2018
Net interest income (GAAP)	$	255,339		$	250,484		$	265,021		$	259,225		$	256,113
Taxable equivalent benefit	1,338			1,349			1,427			1,461			1,449
Net interest income (TE) (Non-GAAP) (1)	256,677			251,833			266,448			260,686			257,562
Non-interest income (GAAP)	58,825			52,509			969			53,087			53,940
Taxable equivalent benefit	465			478			539			463			336
Non-interest income (TE) (Non-GAAP) (1)	59,290			52,987			1,508			53,550			54,276
Taxable equivalent revenues (Non-GAAP) (1)	315,967			304,820			267,956			314,236			311,838
Securities (gains) losses and other non-interest income	1,012			—			50,259			(1		)	(3		)
Core taxable equivalent revenues (Non-GAAP) (1)	$	316,979		$	304,820		$	318,215		$	314,235		$	311,835
Total non-interest expense (GAAP)	$	169,618		$	158,753		$	168,989		$	169,062		$	196,776
Less: Intangible amortization expense	4,786			5,009			5,083			5,382			6,111
Tangible non-interest expense (Non-GAAP) (2)	164,832			153,744			163,906			163,680			190,665
Less: Merger-related expense	(10		)	(334		)	(238		)	973			14,333
Compensation-related expense	—			(9		)	184			1,104			1,781
Impairment of long-lived assets, net of (gain) loss on sale	(22		)	986			64			3,286			5,413
Gain on early termination of loss share agreements	—			—			—			(2,708		)	—
Other non-core non-interest expense	107			(3,129		)	2,600			(1,955		)	(95		)
Core tangible non-interest expense (Non-GAAP) (2)	$	164,757		$	156,230		$	161,296		$	162,980		$	169,233
Return on average assets (GAAP)	1.30		%	1.32		%	1.70		%	1.34		%	1.01		%
Effect of non-core revenues and expenses	0.01			(0.03		)	(0.33		)	0.01			0.31
Core return on average assets (Non-GAAP)	1.31		%	1.29		%	1.37		%	1.35		%	1.32		%
Efficiency ratio (GAAP)	54.0		%	52.4		%	63.5		%	54.1		%	63.5		%
Effect of tax benefit related to tax-exempt income	(0.3		)	(0.3		)	(0.4		)	(0.3		)	(0.4		)
Efficiency ratio (TE) (Non-GAAP) (1)	53.7		%	52.1		%	63.1		%	53.8		%	63.1		%
Effect of amortization of intangibles	(1.5		)	(1.6		)	(1.9		)	(1.7		)	(1.9		)
Effect of non-core items	(0.2		)	0.8			(10.5		)	(0.2		)	(6.9		)
Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2)	52.0		%	51.3		%	50.7		%	51.9		%	54.3		%
Return on average common equity (GAAP)	10.05		%	9.85		%	13.38		%	10.21		%	7.87		%
Effect of non-core revenues and expenses	0.08			(0.19		)	(2.63		)	0.06			2.43
Core return on average common equity (Non-GAAP)	10.13		%	9.66		%	10.75		%	10.27		%	10.30		%
Effect of intangibles (2)	5.45			5.37			6.23			6.07			6.40
Core return on average tangible common equity (Non-GAAP) (2)	15.58		%	15.03		%	16.98		%	16.34		%	16.70		%
Total shareholders' equity (GAAP)	$	4,238,000		$	4,141,831		$	4,056,277		$	3,942,361		$	3,913,409
Less: Goodwill and other intangibles	1,305,752			1,310,458			1,315,462			1,305,915			1,314,165
Preferred stock	228,485			132,097			132,097			132,097			132,097
Tangible common equity (Non-GAAP) (2)	$	2,703,763		$	2,699,276		$	2,608,718		$	2,504,349		$	2,467,147
Total assets (GAAP)	$	31,446,532		$	31,260,189		$	30,833,015		$	30,118,387		$	30,126,162
Less: Goodwill and other intangibles	1,305,752			1,310,458			1,315,462			1,305,915			1,314,165
Tangible assets (Non-GAAP) (2)	$	30,140,780		$	29,949,731		$	29,517,553		$	28,812,472		$	28,811,997
Tangible common equity ratio (Non-GAAP) (2)	8.97		%	9.01		%	8.84		%	8.69		%	8.56		%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2) Tangible calculations eliminate the effect of goodwill and acquisition-related intangibles and the corresponding amortization expense on a tax-effected basis where applicable.

28

	For the Six Months Ended
	6/30/2019			6/30/2018
Net interest income (GAAP)	$	505,823		$	489,002
Taxable equivalent benefit	2,687			2,913
Net interest income (TE) (Non-GAAP) (1)	508,510			491,915
Non-interest income (GAAP)	111,334			98,506
Taxable equivalent benefit	943			677
Non-interest income (TE) (Non-GAAP) (1)	112,277			99,183
Taxable equivalent revenues (Non-GAAP) (1)	620,787			591,098
Securities (gains) losses and other non-interest income	1,012			56
Core taxable equivalent revenues (Non-GAAP) (1)	$	621,799		$	591,154
Total non-interest expense (GAAP)	$	328,371		$	384,847
Less: Intangible amortization expense	9,795			11,213
Tangible non-interest expense (Non-GAAP) (2)	318,576			373,634
Less: Merger-related expense	(344		)	30,560
Compensation-related expense	(9		)	3,002
Impairment of long-lived assets, net of (gain) loss on sale	964			7,487
Other non-core non-interest expense	(3,022		)	(778		)
Core tangible non-interest expense (Non-GAAP) (2)	$	320,987		$	333,364
Return on average assets (GAAP)	1.31		%	0.97		%
Effect of non-core revenues and expenses	0.01			0.21
Core return on average assets (Non-GAAP)	1.30		%	1.18		%
Efficiency ratio (GAAP)	53.2		%	65.5		%
Effect of tax benefit related to tax-exempt income	(0.3		)	(0.4		)
Efficiency ratio (TE) (Non-GAAP) (1)	52.9		%	65.1		%
Effect of amortization of intangibles	(1.6		)	(1.9		)
Effect of non-core items	0.3			(6.8		)
Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2)	51.6		%	56.4		%
Return on average common equity (GAAP)	9.95		%	7.35		%
Effect of non-core revenues and expenses	(0.05		)	1.69
Core return on average common equity (Non-GAAP)	9.90		%	9.04		%
Effect of intangibles (2)	5.41			6.28
Core return on average tangible common equity (Non-GAAP) (2)	15.31		%	15.32		%
Total shareholders' equity (GAAP)	$	4,238,000		$	3,913,409
Less: Goodwill and other intangibles	1,305,752			1,314,165
Preferred stock	228,485			132,097
Tangible common equity (Non-GAAP) (2)	$	2,703,763		$	2,467,147
Total assets (GAAP)	$	31,446,532		$	30,126,162
Less: Goodwill and other intangibles	1,305,752			1,314,165
Tangible assets (Non-GAAP) (2)	$	30,140,780		$	28,811,997
Tangible common equity ratio (Non-GAAP) (2)	8.97		%	8.56		%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 21%.
(2) Tangible calculations eliminate the effect of goodwill and acquisition-related intangibles and the corresponding amortization expense on a tax-effected basis where applicable.

29

EX-99.2

Exhibit 99.2 2Q19 Earnings Presentation July 19, 2019

Safe Harbor And Non-GAAP Financial Measures Safe Harbor To the extent that statements in this PowerPoint presentation relate to future plans, objectives, financial results or performance of IBERIABANK Corporation, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which are based on management’s current information, estimates and assumptions and the current economic environment, are generally identified by the use of the words “plan”, “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. The Company’s actual strategies, results and financial condition in future periods may differ materially from those currently expected due to various risks and uncertainties. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. Consequently, no forward-looking statement can be guaranteed. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason. This PowerPoint presentation supplements information contained in the Company’s earnings release dated July 19, 2019, and should be read in conjunction therewith. The earnings release may be accessed on the Company’s web site, www.iberiabank.com, under “Investor Relations” and then “Financial Information” and then “Press Releases.” Non-GAAP Financial Measures This PowerPoint presentation contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses core non-GAAP financial metrics (“Core”) in their analysis of the Company’s performance to identify core revenues and expenses in a period that directly drive operating net income in that period. These Core measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefits associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. Reference is made to “Non-GAAP Financial Measures” and “Caution About Forward Looking Statements” in the earnings release which also apply to certain disclosures in this PowerPoint presentation. 2

Corporate Profile Driving long-term value creation for our clients, associates, communities and shareholders Our Franchise Corporate Snapshot • $4.0 billion market cap as of July 19, 2019 • $75.27 share price • 2.39% dividend yield • $31.4 billion in total assets as of June 30, 2019 • $23.4 billion in loans • $24.3 billion in deposits • Operating continuously for over 132 years • 325 offices serving 33 MSAs across 12 states • Investment grade rated: • Holding Company Issuer – S&P Rating BBB/A-2 • Bank – BBB+ 3

Corporate Profile Driving long-term value creation for our clients, associates, communities and shareholders Mission Statement Our Focus • Provide exceptional value-based client • Relationship-driven commercial and services private banking business • Market-centric, people-driven approach in Great place to work • attractive Southeastern markets • Growth that is consistent with high • Building long-term A-list client performance relationships through service and care • “Branch-lite” delivery model with focus on Shareholder-focused • operating efficiency • Strong sense of community • Diversification across asset classes, business lines and geographies 4

Quarterly Summary 2Q19 Non- Non- GAAP GAAP Key Metrics GAAP GAAP 1Q19 2Q19 Core 1Q19 Core 2Q19 Earnings Per Common Share $1.75 $1.86 $1.72 $1.87 Return On Average Assets 1.32% 1.30% 1.29% 1.31% Return on Average Common Equity 9.85% 10.05% 9.66% 10.13% Return on Tangible Common Equity (TE) -- -- 15.03% 15.58% Tangible Efficiency Ratio (TE) -- -- 51.3% 52.0% Second Quarter Highlights: • Strong loan growth and improvements in non-interest income contributed to $1.86 and $1.87 EPS on a GAAP and core basis, respectively. On both a linked quarter and year-over-year basis, core EPS increased 9%. • Reported net interest margin of 3.57% and cash margin of 3.37%, a decrease of 2 and 5 basis points, respectively. The decline in margin was primarily driven by increases in funding costs. • Revenue on a core basis increased $12.2 million, a 4% increase linked quarter, primarily due to increases in mortgage income and title revenues for the quarter – somewhat offset by increases in non-interest expense from higher commissions. • As expected, core non-interest expense increased by $8.3 million, or 5% from 1Q19, primarily due to higher salaries and benefits (including commissions), but were down $5.8 million, or 3%, as compared to 2Q18. • Loan growth of $387 million, or 7% annualized, primarily driven by corporate asset finance, mortgage, and energy businesses. • Asset quality metrics continue to be strong and stable. • Tangible book value per common share increase of $1.72, or 3%, during the quarter, and increased $7.45, or 17% from 2Q18. • Repurchased 1.76 million common shares at a weighted average price per share of $76.59 during the quarter. 5

Recent Events • On July 17, 2019, the Company announced a third quarter cash divided equal to $0.45 per common share payable on October 25, 2019. This represents a 5% increase to the quarterly dividend and is the second increase in 2019. • Also on July 17, 2019, the Company announced the completion of its November 2018 share repurchase program for up to 2.765 million shares of IBERIABANK Corporation common stock. Additionally, the Company announced the commencement of a new share repurchase program for up to 1.6 million shares, or 3%, of outstanding common shares. The current plan extends over a two year timeframe; however, repurchases are anticipated to occur during the next 12 months. 6

Profitability Trends GAAP EPS Core EPS Return on Average Assets Return on Common Equity 7

Client Growth Loan Highlights Deposit Highlights • Total period-end loan growth of $387 million, or 1.7% (6.8% • Period-end total deposits increased $203 million, or 0.8% annualized). (3.4% annualized rate). • Loan growth during 2Q19 was strongest in the Energy Group (reserve-based and midstream lending), Corporate Asset Finance (equipment financing and leasing business) Group, and in the New Orleans and Dallas markets. Loans – Period-End Balances Deposits – Period-End Balances 8

Net Interest Margin Changes For 2Q19 Net Interest Primary Reason Net Interest Income ($MM) For Change Margin (%) $250.5 1Q19 3.59% Higher Growth and New Volume Rates 7.7 0.09% Above Portfolio Yields 1.3 Greater Fee Income on Legacy Loans 0.02% 9.0 Changes in Legacy Loan Portfolios 0.11% (3.8) Runoff of Acquired Loan Balances -0.05% Increase in Non-Recurring Recovery 3.8 0.05% Revenue 0.0 Changes in Acquired Loan Portfolios 0.00% Lower Borrowings Balance Due to 0.8 0.01% Deposit Growth Securities Portfolio Runoff and Higher (2.6) -0.04% Premium Amortization Levels Greater Deposit Yields From Non- (1.9) Maturity Product Repricing and -0.03% Promotional Activity Increased Level of Time Deposit (3.0) -0.05% Issuance 1.9 Change In Number of Business Days 0.00% 0.6 All Other Factors -0.02% $255.3 2Q19 3.57% • Net interest margin declined two basis points in 2Q19 - impacted by repricing of variable rate loans, security portfolio yields, and deposit and funding costs. • Increasing funding costs reduced net interest margin by 5 basis points. 9

Revenues Net Interest Income and Margins Components of Non-Interest Income • GAAP non-interest income increased by $6.3 million primarily as a result of: • Reported net interest margin decreased 2 basis • Increase of $6.6 million in mortgage income, points and cash margin decreased 5 basis points. • Increase of $1.7 million in title revenues, and • Offset by a $1.7 million decrease in customer swap • The Company realized $7.2 million in recoveries income for the quarter. • Core non-interest income increased by $7.3 million, or 14%. A $1.0 million loss on sales of investment securities was the only non-core item Dollars in millions for the quarter. 10

Non-Interest Expense Components of Core Non-Interest Expense Highlights • Total non-interest expense for the quarter increased $10.9 million, or 7%, from the prior quarter to $169.6 million. • Core non-interest expense increased $8.3 million, or 5%, to $169.5 million: Included increases of: • $5.0 million in salaries and benefits expense (including increased mortgage commissions) • $1.8 million in professional services expense • $1.3 million in credit-related expense – primarily tied to mortgage insurance on secondary market originations and semi-annual energy borrowing base redeterminations • Non-core expenses were immaterial for the quarter. 11

Efficiency Efficiency Ratio Trends Annualized Core Non-Interest Expense/Avg Assets • Total core revenues increased $12.2 million, or 4%, compared to 1Q19, while core expenses were up $8.3 million, or 5%, over the same period. • Core revenues driven by loan growth and seasonal fee-income businesses. • Core tangible efficiency ratio was 52.0% in 2Q19. • Core non-interest expense/average assets equal to 2.17%, down from 2.36% in 2Q18 • Second quarter results reflect efforts to increase revenues and manage expenses. • One branch closure in 2Q19. 12

Asset Quality Highlights Diversified Loan Portfolio • The Company remains well- positioned with strong and stable asset quality metrics and diversified loan growth. • Classified Assets to Total Assets of 0.97% in 2Q19 compared to 1.01% in 1Q19 and 1.33% in 2Q18. • Second quarter 2019 NPAs/Assets Non-Performing Assets equal to 0.60%, a 2 basis point increase compared to the first quarter of 2019. 13

Asset Quality Highlights Provision & Net Charge-Offs NCOs / Avg Loans 2016 0.23% 2017 0.33% • Net charge-offs remain at historically 2018 0.15% low levels. • Annualized QTD net charge-offs equate to 0.14% of average loans, an increase of 1 basis point from 1Q19. • Provision expense of $10.8 million, a decrease of $3.0 million, and covered net charge-offs by 133% in 2Q19. Allowance for Loan Losses 14

Interest Rate Risk 12-Month Net Interest Income Scenarios Highlights • Asset-sensitive from an interest rate risk perspective. • Degree of asset sensitivity is a function of the reaction of competitors to changes in deposit pricing. • Forward curve has a slightly negative impact on net interest income over a 12-month period. • Estimated impact of an immediate 25 basis points decrease in the Federal Funds Rate on net interest income would result in an approximate $0.05 decrease in quarterly EPS. 15

Capital Position Highlights Capital Ratios (Preliminary) • Capital ratios remain strong. IBERIABANK Corporation 1Q19 2Q19 Change • Declared quarterly common stock Tangible Common Equity ratio 9.01% 8.97% (4) bps dividend of $0.45 per share, an increase of $0.02 per share over the Common Equity Tier 1 (CET 1) ratio 10.73% 10.38% (35) bps prior quarter, or 5%, payable on October 25, 2019. Tier 1 Leverage 9.67% 9.71% 4 bps • Issued and sold 4.0 million depositary Tier 1 Risk-Based 11.24% 11.26% 2 bps shares Preferred Stock Series D, $100 million in gross proceeds, in April 2019. Total Risk-Based 12.33% 12.34% 1 bps • Repurchased 1.76 million shares IBKC common stock during the quarter at a IBERIABANK and Subsidiaries 1Q19 2Q19 Change weighted average price of $76.59 per common share. Common Equity Tier 1 (CET 1) ratio 11.00% 11.07% 7 bps • Completed November 2018 share Tier 1 Leverage 9.47% 9.55% 8 bps repurchase plan for 2.765 million shares of IBKC common stock in early Tier 1 Risk-Based 11.00% 11.07% 7 bps July 2019. Total Risk-Based 11.63% 11.70% 7 bps • New share repurchase plan of up to 1.6 million shares, or approximately 3%, of • Returned over 100% of net income available to common common stock announced on July 17, shareholders in the form of dividends on common stock and 2019. share repurchase 16

2019 Financial Guidance Update 2019 Guidance Average Earning Assets $28.6B ~ $28.8B Consolidated Loan Growth % 5% ~ 7% Consolidated Deposit Growth % 5% ~ 7% Provision Expense $41MM ~ $45MM Non-Interest Income (Core Basis) $222MM ~ $230MM Non-Interest Expense (Core Basis) $667MM ~ $677MM Net Interest Margin 3.48% ~ 3.54% Tax Rate 23.0% ~ 24.0% Preferred Dividend $17.0MM ~ $18.0MM Share Repurchase Activity $235MM ~ $240MM Credit Quality Stable • Assumes two 25 basis points Federal Funds Rate decreases in 2019 (July and September 2019) • Net interest margin range reduced to 3.48% - 3.54% • Non-interest income range increased to $222 - $230 million • Non-interest expense guide lowered to $667 - $677 million The Company’s guidance is subject to risks, uncertainties, and assumptions which could, individually or in aggregate, cause actual results or financial condition to differ materially from those anticipated above. Reference is made to “Caution About Forward-Looking Statements” in the earnings release which also applies to this guidance. 17

Preferred Stock Dividend Schedule (In 000's) 2019 2020 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Preferred B $ 2,650 $ 2,650 $ 2,650 $ 2,650 Preferred C 949 949 949 949 949 949 949 949 Preferred D 3,609 3,050 3,050 Total Per Quarter $ 3,599 $ 949 $ 3,599 $ 4,558 $ 3,599 $ 3,999 $ 3,599 $ 3,999 Annual Total $ 12,704 $ 15,195 • Dividend schedule for anticipated preferred stock cash dividends • Each series preferred stock cash dividend is undeclared and unavailable until authorization by the Board of Directors The Company’s guidance is subject to risks, uncertainties, and assumptions which could, individually or in aggregate, cause actual results or financial condition to differ materially from those anticipated above. Reference is made to “Caution About Forward-Looking Statements” in the earnings release which also applies to this guidance. 18

APPENDIX 19

Loans and Deposits By State Total Loans Total Deposits $23.4 Billion $24.3 Billion Note:Figures at period-end June 30, 2019 20

Non-Interest Income And Expense Trend Details 2Q19 vs. 1Q19 Non-interest Income ($ millions) 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 $ Change % Change Service Charges on Deposit Accounts $ 12.9 $ 12.9 $ 13.5 $ 13.4 $ 12.8 $ 12.8 $ 0.0 0% ATM / Debit Card Fee Income 2.6 2.9 2.5 2.3 2.6 3.0 0.4 17% BOLI Proceeds and CSV Income 1.3 1.3 1.7 2.0 1.8 1.7 (0.1) -3% Mortgage Income 9.6 13.7 12.7 10.8 11.8 18.4 6.6 56% Title Revenue 5.0 6.8 6.3 6.0 5.2 6.9 1.7 32% Broker Commissions 2.2 2.4 2.6 1.9 1.9 2.0 0.1 5% Other Non-interest Income 11.0 13.9 13.8 14.8 16.4 15.0 (1.4) -9% Non-interest income excluding non-core income $ 44.6 $ 53.9 $ 53.1 $ 51.2 $ 52.5 $ 59.8 $ 7.3 14% Gain (Loss) on Sale of Investments, Net (0.1) 0.0 0.0 (49.8) - (1.0) (1.0) -100% Other Non-core income - - - (0.4) - - - - Total Non-interest Income $ 44.5 $ 53.9 $ 53.1 $ 1.0 $ 52.5 $ 58.8 $ 6.3 12% 2Q19 vs. 1Q19 Non-interest Expense ($ millions) 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 $ Change % Change Mortgage Commissions $ 4.4 $ 7.9 $ 7.1 $ 5.4 $ 4.7 $ 7.8 $ 3.1 66% Hospitalization Expense 6.7 6.9 5.2 8.1 6.1 6.6 0.5 7% Other Salaries and Benefits 90.0 86.7 87.8 88.1 87.6 89.0 1.4 2% Salaries and Employee Benefits $ 101.1 $ 101.5 $ 100.1 $ 101.6 $ 98.4 $ 103.4 $ 5.0 5% Credit/Loan Related 4.4 5.1 4.8 4.8 2.9 4.1 1.2 45% Occupancy and Equipment 18.4 19.9 18.5 18.2 18.6 19.0 0.4 2% Amortization of Acquisition Intangibles 5.1 6.1 5.4 5.1 5.0 4.8 (0.2) -4% All Other Non-interest Expense 40.3 42.7 39.6 36.7 36.3 38.2 1.9 5% Nonint. Exp. (Ex-Non-Core Exp.) $ 169.3 $ 175.3 $ 168.4 $ 166.4 $ 161.2 $ 169.5 $ 8.3 5% Compensation-related expense $ 1.2 $ 1.8 $ 1.1 $ 0.2 $ 0.0 $ - (0.0) -100% Gain on early termination of loss share - - (2.7) - - - - - Storm-related expense - - - 0.0 0.0 - (0.0) -100% Impairment of branch properties, net of gains on sales 2.1 5.4 3.3 0.1 1.0 (0.0) (1.0) -102% Consulting and Professional - - - 3.0 - - - - Other Non-interest Expense (0.7) (0.1) (2.0) (0.3) (3.1) 0.1 3.2 103% Merger-related expense 16.2 14.3 1.0 (0.2) (0.3) (0.0) 0.3 97% Total Non-interest Expense $ 188.1 $ 196.8 $ 169.1 $ 169.0 $ 158.8 $ 169.6 $ 10.8 7% Tangible Efficiency Ratio - excl Non-Core-Exp 58.8% 54.3% 51.9% 50.7% 51.3% 52.0% 21

GAAP And Non-GAAP Cash Margin Balances, As As Adjusted Reported Adjustments Non-GAAP 2Q18 Average Balance $ 27,443 $ 142 $ 27,585 Income $ 256.1 $ (16.9) $ 239.2 • Adjustments represent accounting Rate 3.76% -0.27% 3.49% impacts of purchase discounts on acquired loans and related 3Q18 Average Balance $ 27,722 $ 144 $ 27,866 accretion Income $ 259.2 $ (17.5) $ 241.7 Rate 3.74% -0.27% 3.47% 4Q18 Average Balance $ 27,792 $ 144 $ 27,936 Income $ 265.0 $ (19.4) $ 245.6 Rate 3.81% -0.29% 3.52% 1Q19 Average Balance $ 28,282 $ 136 $ 28,418 Income $ 250.5 $ (10.9) $ 239.6 Rate 3.59% -0.17% 3.42% 2Q19 Average Balance $ 28,774 $ 124 $ 28,898 Income $ 255.3 $ (13.3) $ 242.0 Rate 3.57% -0.20% 3.37% Dollars in millions 22

Reconciliation Of Non-GAAP Financial Measures For The Quarter Ended December 31, 2018 March 31, 2019 June 30, 2019 Dollar Amount Dollar Amount Dollar Amount (2) (2) (2) Pre-tax After-tax Per share Pre-tax After-tax Per share Pre-tax After-tax Per share Income available to common shareholders (GAAP) $ 83.9 $ 129.1 $ 2.32 $ 130.5 $ 96.5 $ 1.75 $ 133.8 $ 100.6 $ 1.86 Non-interest income adjustments Loss on sale of investments and other non-interest income 50.3 38.2 0.68 - - - 1.0 0.8 0.01 Non-interest expense adjustments Merger-related expense (0.2) (0.4) - (0.4) (0.3) - (0.0) (0.0) - Compensation-related expense 0.2 0.1 - - - - - - - Impairment of long-lived assets, net of (gain) loss on sale 0.1 0.0 - 1.0 0.8 0.01 (0.0) (0.0) - (Gain) on early termination of loss share agreements - - - - - - - - - Other non-operating non-interest expense 2.6 2.0 0.04 (3.1) (2.4) (0.04) 0.1 0.1 - Total non-interest expense adjustments 2.6 1.8 0.04 (2.5) (1.9) (0.03) 0.1 0.1 0.00 Income tax expense (benefit) - (65.3) (1.18) - - - - - - Core earnings (Non-GAAP) 136.8 103.8 1.86 128.0 94.6 1.72 134.9 101.5 1.87 Provision for credit losses 13.1 9.9 13.8 10.5 10.7 8.2 Pre-provision earnings, as adjusted (Non-GAAP) $ 149.9 $ 113.7 $ 141.8 $ 105.1 145.6 109.7 (1) Per share amounts may not appear to foot due to rounding. (2) Excluding merger-related expense and litigation expense, after-tax amounts are calculated using a tax rate of 24%, which approximates the marginal tax rate. • Non-core income in 2Q19 excludes a $1.0 million loss, or $0.01 EPS after-tax, on sales of investment securities • No significant non-core expense items in 2Q19 • $145.6 million in pre-tax pre-provision core earnings for 2Q19 Dollars in millions 23