IBERIABANK Corporation Announces Pulaski Bank & Trust Company Expansion

LITTLE ROCK, Ark., May 9 /PRNewswire-FirstCall/ -- IBERIABANK Corporation
(Nasdaq: IBKC), the holding company for Pulaski Bank and Trust Company in
Little Rock, Arkansas ("Pulaski"), announced that Pulaski has entered into a
Purchase and Assumption Agreement with the Federal Deposit Insurance
Corporation ("FDIC"), as receiver of ANB Financial, N.A. of Bentonville,
Arkansas ("ANB"), an organization with $2.1 billion in assets as of January
31, 2008. After the close of business on Friday, May 9, 2008, the FDIC
accepted receivership of ANB from the Office of the Comptroller of the
Currency. The nine Arkansas offices of ANB will reopen on Monday, May 12,
2008 as offices of Pulaski. With the completion of this transaction,
IBERIABANK Corporation will have 89 bank branch offices, 32 title insurance
offices and 39 mortgage locations, including 68 combined offices serving
clients in the State of Arkansas.
Highlights Of The Transaction
-- Offices. Pulaski will open nine offices in the
Fayetteville-Springdale-Rogers Metropolitan Statistical Area ("MSA") in
Northwest Arkansas, one of the fastest growing regions in the United
States. The offices are in Rogers (3), Fayetteville (2), Springdale
(2), Bentonville, and Bella Vista. The FDIC has granted Pulaski a
90-day option to purchase the premises, furniture, fixtures, and
equipment associated with these offices. The initial purchase price of
these assets will be at net book value. The final purchase settlement
will be at 95% of appraised value of the assets retained.

-- Deposits. Pulaski will assume approximately $213 million in insured
deposits associated with this transaction. Insured deposits include
public fund deposits to the extent those deposits were properly secured
and exclude brokered and uninsured deposits.

-- Loans. Pulaski will purchase approximately $2 million of loans, all of
which are secured by deposits.

-- Purchase Price. In association with this transaction, Pulaski paid a
deposit premium to the FDIC equal to 1.011% of the insured deposits
assumed.

-- Liquid Assets. Pulaski will purchase approximately $46 million of
investment securities, substantially all of which are securities of the
United States Treasury and federal agencies at market value. At
consummation, Pulaski will receive cash for an amount equal to
liabilities assumed less assets purchased and deposit premium paid to
the FDIC.

-- Capital Strength. Pulaski and IBERIABANK Corporation are expected to
remain well capitalized after the transaction is completed. No
additional capital is required to be raised in direct association with
this transaction.

Daryl G. Byrd, President and Chief Executive Officer of IBERIABANK
Corporation and Pulaski Bank and Trust Company stated, "We are excited to
continue the expansion of our Arkansas franchise in a very cost effective
manner. In a little over a one-year time frame, we have created an
exceptional client-focused franchise. Including this acquisition, Pulaski
will have approximately $1.6 billion in assets, $1.3 billion in deposits, and
$232 million in equity." Byrd continued, "On a combined basis, the purchase
price of our three Arkansas acquisitions was approximately $208 million, or
2.26 times book value and a 9.5% deposit premium of the combined franchises."

IBERIABANK Corporation Arkansas Acquisitions

Equity Price-
Date Pre- Purchase To- Deposit
Completed Assets Loans Deposits Acq. Price Book Premium
Pulaski
Investment
Corporation 1/31/07 $488 $368 $423 $39 $130 332% 21.5%
Pocahontas
Bancorp,
Inc. 2/1/07 707 410 582 53 75 143% 3.9%
ANB
Financial,
N.A./
FDIC 5/12/08 213 2 213 - 2 0% 1.0%
Combined
Arkansas
Acquisitions $1,408 $779 $1,218 $92 $208 226% 9.5%

Prior to this transaction, Pulaski had no banking offices in Northwest
Arkansas. However, Pulaski had approximately $75 million in commercial loans
and $9 million in deposits to clients in the area and $11 million in
residential construction loans to builders. In addition, seven offices of
Lenders Title Company and one office of Pulaski Mortgage Company are located
in Northwest Arkansas.
About The Fayetteville-Springdale-Rogers MSA
This area has a population of approximately 424,000 people. During the
1990's, the population increased by 47% and was the sixth fastest growing MSA
in the United States. Since 2000, the population climbed 21% and was the 18th
fastest growing MSA. In addition, some of the communities in this region have
been named as "America's Most Livable Cities", Money Magazine's "Best Places
to Live in America," and "50 Fabulous Places to Retire in America."
The area experienced employment growth of 60% in the last decade and was
ranked the 4th fastest MSA for job growth. The MSA has consistently reported
among the lowest unemployment rates in the country. According to the U.S.
Bureau of Labor Statistics, the Fayetteville-Springdale-Rogers MSA reported an
unemployment rate of 3.7% in March 2008. The area is ranked in the top 10
metropolitan areas in the United States by the Milken Institute and Forbes
Magazine named it one of the nation's 10 best places for business and careers.
The area is the home of the University of Arkansas (Fayetteville), Tyson
Foods, Inc. (Springdale), J.B. Hunt Transportation Services, Inc. (Lowell),
and the headquarters for Wal-Mart Stores, Inc. (Bentonville), the world's
largest corporation. Over 1,300 Wal-Mart vendors have added corporate
branches or offices in the area as well.

Communities Within The Fayetteville-Springdale-Rogers MSA

% Growth
Population Since:
1990 2000 2006 1990 2000

Fayetteville 42,099 58,047 68,726 63% 18%
Springdale 29,941 45,798 63,082 111% 38%
Rogers 24,692 38,829 52,181 111% 34%
Bentonville 11,257 19,730 32,049 185% 62%
Bella Vista 9,083 16,582 24,000 164% 45%
Rest of MSA 122,423 168,059 183,518 50% 9%
Total MSA 239,495 347,045 423,556 77% 22%

About IBERIABANK Corporation
IBERIABANK Corporation is a multi-bank financial holding company with 160
combined offices, including 89 bank branch offices in Louisiana, Arkansas, and
Tennessee, 32 title insurance offices in Arkansas and Louisiana, and mortgage
representatives in 39 locations in eight states. The Company's common stock
trades on the NASDAQ Global Select Market under the symbol "IBKC" and the
Company's market capitalization is approximately $632 million.
The following ten investment firms currently provide equity research
coverage on IBERIABANK Corporation: -- FIG Partners, LLC
-- FTN Midwest Securities Corp.
-- Howe Barnes Hoefer & Arnett, Inc.
-- Janney Montgomery Scott
-- Keefe, Bruyette & Woods
-- Robert W. Baird & Company
-- Stephens, Inc.
-- Sterne, Agee & Leach
-- Stifel Nicolaus & Company
-- SunTrust Robinson-Humphrey

Conference Call
In association with this release, IBERIABANK Corporation will host a live
conference call to discuss this transaction. The telephone conference call
will be held on Monday, May 12, 2008, beginning at 8:30 a.m. Central Time by
dialing 1-800-230-1093. The confirmation code for the call is 922934. A
replay of the call will be available until midnight Central Time on May 19,
2008 by dialing 1-800-475-6701. The confirmation code for the replay is
922934.
Non-GAAP Financial Measures
This press release contains financial information determined by methods
other than in accordance with GAAP. The Company's management uses these
non-GAAP financial measures in their analysis of the Company's performance.
These measures typically adjust GAAP performance measures to exclude the
effects of the amortization of intangibles and include the tax benefit
associated with revenue items that are tax-exempt. Since the presentation of
these GAAP performance measures and their impact differ between companies,
management believes presentations of these non-GAAP financial measures provide
useful supplemental information that is essential to a proper understanding of
the operating results of the Company's core businesses. These non-GAAP
disclosures should not be viewed as a substitute for operating results
determined in accordance with GAAP, nor are they necessarily comparable to
non-GAAP performance measures that may be presented by other companies.
Forward Looking Statements
To the extent that statements in this press release relate to future
plans, objectives, financial results or performance of IBERIABANK Corporation,
these statements are deemed to be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements, which are based on management's current information, estimates and
assumptions and the current economic environment, are generally identified by
the use of the words "plan", "believe", "expect", "intend", "anticipate",
"estimate", "project" or similar expressions. IBERIABANK Corporation's actual
strategies and results in future periods may differ materially from those
currently expected due to various risks and uncertainties.
Actual results could differ materially because of factors such as our
ability to execute our growth strategy, risks relating to the integration of
acquired companies that have previously been operated separately, credit risk
of our customers, effect of the on-going correction in residential real estate
prices and reduced levels of home sales, sufficiency of our allowance for loan
losses, changes in interest rates, access to funding sources, reliance on the
services of executive management, competition for loans, deposits and
investment dollars, reputational risk and social factors, changes in
government regulations and legislation, geographic concentration of our
markets, rapid changes in the financial services industry, and hurricanes and
other adverse weather events. These and other factors that may cause actual
results to differ materially from these forward-looking statements are
discussed in the Company's Annual Report on Form 10-K and other filings with
the Securities and Exchange Commission, available at the SEC's website,
www.sec.gov, and the Company's website, www.iberiabank.com. All
information in this release is as of the date of this release. The Company
undertakes no duty to update any forward-looking statement to conform the
statement to actual results or changes in the Company's expectations.
SOURCE IBERIABANK Corporation

Daryl G. Byrd, President and CEO, +1-337-521-4003, or John R. Davis, Senior
Executive Vice President, +1-337-521-4005, both of IBERIABANK Corporation