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2017 IBERIABANK ANNUAL MEETING PRESENTATION

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2017 IBERIABANK ANNUAL MEETING PRESENTATION

  1. 1. Ahead of the Curve A N N U A L S H A R E H O L D E R S ’ M E E T I N G 2 0 1 7
  2. 2. Forward-Looking Statements And Non-GAAP Financial Measures 2 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 contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of GAAP to non-GAAP disclosures are included as tables in the Company’s press release dated April 27, 2017 and Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Refer to the supplemental tables in the press release and Annual Report for these reconciliations.
  3. 3. • Our Unique And Diversified Business Model • A Story Of Performance • Gaining Scale Through Client Growth • Focusing On Our Shareholders Ahead of the Curve OVERVIEW 3
  4. 4. • Provide Exceptional Value-Based Client Service • Great Place To Work • Growth That Is Consistent With High Performance • Shareholder Focused • Strong Sense Of Community 4 Our Mission Statement
  5. 5. Evolving Banking Industry 5 • Continuing consolidation of the banking industry • Greater competition from non- banks in certain segments • Higher short-term rates • Regulatory environment continues to evolve • Potential impact of technological advancements • Impact of FinTech providers • Changing client preferences 14,496 5,113 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 1934 1937 1940 1943 1946 1949 1952 1955 1958 1961 1964 1967 1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 NumberofBanks
  6. 6. Changing Client Preferences 6 • To meet clients’ changing interests, we offer a convenient and efficient branch system and electronic delivery and communication channels • Since 2012:  Our number of transactions has increased by 5.3 million, up 57%  Automated transactions (“ACH”), remote, and mobile transactions are the fastest growing channels  Teller usage has declined from 41% to 30% of transactions
  7. 7. • Grow Our Client Base In A High Quality Manner • Complete Sabadell United Acquisition - Convert, and Integrate Their Branch And Operating Systems • Continue To Enhance Our Operating Efficiency • Improve Our Core Profitability 7 Priorities For 2017
  8. 8. Our Unique And Diversified Business Model 8
  9. 9. Geographic Diversification 9 • We serve clients in 32 MSAs • Serve 15 of the top 28 markets in the Southeast • Serve all top 5 markets • Diversification through uncorrelated markets • Our differentiation includes:  Market-centric approach  High-quality, experienced, and successful banking talent  Differentiated strategy and deposit pricing by market  “Branch-lite” distribution  Multiple growth engines  Fee income businesses
  10. 10. Growing Fee Income Businesses 10  Record 103 client transactions in 18 markets  Annual revenues more than doubled Mortgage LendingAnd Servicing Title Insurance Treasury Management Client Derivatives/Hedging  Originated and sold $2.5 billion loans in 2016  Retained $1.1 billion in loans serviced for clients  $84 million in mortgage income, up 4%  Title transactions up 5% (record level)  $22 million in revenue (second highest)  18% increase in clients  Fee income up 28% Wealth Management  Assets under administration grew 93% to $2.7 billion  Record level of annual revenues and net income
  11. 11. Multiple Growth Engines 11 • We invested heavily in new businesses and markets • Diverse markets and multiple sources of revenue • Strong client growth in recent acquisition markets  Atlanta, Orlando, Tampa, and Dallas  $589 million in loan growth in 2016 (80% of total)  $508 million in deposit growth in 2016 (41% of growth) • In 2016, we entered the vibrant Greenville market in Upstate South Carolina  10-county area with population of 1.4 million people  One of the nation’s top markets for economic growth  Sam Erwin joined as South Carolina Regional President in December 2016  Our first full-service office opened in Spring 2017 Greenville, South Carolina
  12. 12. Community Focus 12 • Provided assistance to associates, clients, and communities impacted by August 2016 flooding • Innovative investment in New Orleans- based Liberty Financial Services, one of the nation’s largest African-American- owned banks • Sponsored the National Community Reinvestment Coalition’s Annual Conference, one of the largest gatherings of community non-profits, policymakers, government officials, small businesses, and academia, all coming together to create a just economy • Invested $60 million in various community development projects
  13. 13. A Story Of Performance 13
  14. 14. The Numbers AtYear-End 2016 14 Total Assets $21.7 Billion Up $2.2 Billion, or 11% Market Cap. $3.8 Billion Up $1.5 Billion, or 66% Shareholders’ Equity $2.9 Billion Up $441 Million, or 18% Cash Equiv. & Securities $4.9 Billion Up $1.5 Billion, or 44% Total Revenues $883 Million Up $75 Million, or 9% Net Income To Common $179 Million Up $36 Million, or 25% Total Locations 300 Down 19, or 6% Bank Branches 200 Down 19, or 9% Associates (FTE) 3,100 Down 51, or 2% Advisory Boards 218 Members No Change Size Strength Financials Distribution People
  15. 15. Taking Proactive Steps 15 • We believe it is very important to stay ahead of the curve in risk management • We were very active in reducing our exposures to energy, indirect automobile, and tightening our credit standards in other areas of concern • During 2016, we reduced our energy-related loans by $120 million, or 18%, declining to 3.7% of total loans by year-end • We also reduced our indirect automobile loans by $115 million, or 47% during the year • In aggregate since year-end 2014:  Cumulative decline in “risk-off loans” was $797 million  Estimated opportunity cost of $15 million in 2016 • While costly in then near-term, we believe these prudent steps provided appropriate long-term benefit to our shareholders
  16. 16. Improved Efficiency 16 • Revenue growth has been significantly greater than expense growth • Very active in branch closures and staff efficiency • Particularly this past year:  Revenues up $75 million, or 9%  Expenses down $4 million, or <1%  Total assets were up 11% and staffing declined 2%  Closed/consolidated 19 bank branches and eight mortgage locations • We achieved our long-term core tangible efficiency target of 60%
  17. 17. Enhanced Profitability 17 • Earnings up $36 million, or 25%, compared to 2015 • Earnings per common share up 17% • Second highest annual EPS results • Core earnings up $22 million, or 14%, compared to 2015 • Core earnings per common share up 6% • Record annual core EPS results
  18. 18. Gaining Scale 18
  19. 19. Acquisitions 19 Over the last four years: • Completed five live bank acquisitions plus Memphis branches • Acquired $3.3 billion in loans and $3.8 billion in deposits • Acquired 62 bank branches, and closed or consolidated 60 bank branches • Efficiency gains were a primary focus in 2016 • We were one of the most active acquirers and branch consolidators during this period • On a pro forma basis, we will be the 40th largest bank holding company in the U.S.
  20. 20. Sabadell United Acquisition (Pending) 20 • Our largest acquisition to date, equal to 21% of our pro forma size • Announced on February 28, 2017 with anticipated closing in the second half of 2017 • Subsidiary of Banco de Sabadell, S.A. • $5.8 billion in total assets with 40,000 Florida clients • 25 offices in Florida, including 23 in the Miami MSA • Total purchase price of $1 billion • Significant cost savings opportunities • Projected favorable financial impact
  21. 21. Client Growth – Loans and Deposits 21 Year-end loan growth of $738 million, up 5% Year-end deposit growth of $1.2 billion, up 8% Notes: “Other” market includes Mortgage, Lenders Title, Credit Card, and Other. “Pro Forma” includes Sabadell United Bank, based on total loans and deposits at December 31, 2016.
  22. 22. Asset Quality 22 • Asset quality remains a hallmark of our Company • Energy-related concerns crested in the second half of 2016 • Non-energy-related asset quality remained strong throughout 2016 1.08% 1.00% 0.49% 2.59% 1.55% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% Non-Performing Assets (As a % of Total Assets) IBKC IBKC Excluding Energy Peer Average ($10-$30 Billion BHCs) %
  23. 23. Capital Strength 23 • In May 2016:  Board authorized a new common stock repurchase program for 950,000 shares  Issued preferred stock with net proceeds of $55 million • In December 2016:  Issued common stock with net proceeds of $279 million  Issued at $81.50 per common share (31% above 2016 average trading price) • In March 2017:  Issued common stock with net proceeds of $485 million  Issued at $83.00 per common share • During 2016, our common stock market capitalization grew $1.5 billion, or 66% 8.00% 9.00% 10.00% 11.00% 12.00% 13.00% 14.00% 15.00% 16.00% 17.00% 18.00% 2012 2013 2014 2015 2016 3/31/17 Capital Ratio Trends Equity to Assets Tier 1 Leverage Tier 1 Risk Based Total Risk Based
  24. 24. Focusing On Our Shareholders 24
  25. 25. Near-Term Shareholder Returns 25 • We experience enhanced liquidity and higher trading levels in our common stock • Our average daily trading value in our common stock increased 48% compared to 2015 • During 2016, our common stock:  Achieved an all-time high of $91.10 per share in early December 2016  Ended the year at $83.75 per common share  Gained $28.68 per share, or 52% compared to year-end 2015
  26. 26. Long-Term Shareholder Returns 26 • Strategic direction changed 17 years ago • Focused on lowering risk posture and improving total return to shareholders • Between year-ends 1999 and 2016:  Our common stock price improved 661%  Total return to shareholders (including the reinvestment of cash dividends) was 1,051%  Compounded annual return of 15%  We outperformed nearly all of our peers (BHCs with $10-30 billion in total assets)  Importantly, these results also significantly outperformed broader market indexes and well-known investment alternatives
  27. 27. c “No great thing is created suddenly.” - Epictetus, Roman Philosopher, c. 60-120
  28. 28. 28

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