IBERIABANK Corporation Announces Pricing of $100 Million Preferred Stock Offering

IBERIABANK Corporation (Nasdaq: IBKC)(the “Company”), the holding company of the 132-year-old IBERIABANK, today announced it has priced an underwritten registered public offering of 4,000,000depositary shares, each representing a 1/400th interest in a share of 6.100% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, par value $1.00 per share, with a liquidation preference of $10,000 per share of Series D preferred stock (equivalent to $25 per depositary share).

The Company will pay dividends on the Series D preferred stock, when, as, and if declared by the board of directors of the Company. Dividends will accumulate and be payable from the original date of issuance to, but excluding, May 1, 2024, at a rate of 6.100% per annum, payable semi-annually on May 1 and November 1 of each year, beginning on November 1, 2019 and ending on May 1, 2024. From, and including, May 1, 2024, dividends will accumulate and be payable at a floating rate equal to three-month LIBOR plus a spread of 385.9 basis points per annum, payable quarterly, in arrears, on February 1, May 1, August 1, and November 1 of each year, beginning on August 1, 2024, subject to potential adjustment as described in the prospectus supplement relating to the offering. The Company may redeem the Series D preferred stock at its option, subject to regulatory approval, on or after May 1, 2024, or following a regulatory capital treatment event as described in the prospectus supplement relating to the offering.

The Company expects to use the net proceeds from the offering for general corporate purposes, including repurchases of its common stock, possible future acquisitions of other financial services businesses, working capital needs, and investments in subsidiaries to support continued growth. The offering is expected to close on April 4, 2019, subject to customary closing conditions.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keefe, Bruyette & Woods, A Stifel Company, are acting as joint book-running managers. Evercore ISI and Sandler O’Neill + Partners, L.P., are acting as co-managers.

The Series D preferred stock and the depositary shares will be offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

The Company has filed a registration statement (including a preliminary prospectus supplement and a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read those documents and the other documents that the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the joint book-running managers will arrange to send you the prospectus supplement and the prospectus if you request them by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC  28255-0001, Attn: Prospectus Department., by email at dg.prospectus_requests@baml.com or by calling 1-800-294-1322 or Keefe, Bruyette & Woods, A Stifel Company at 787 Seventh Avenue, Fourth Floor, New York, NY 10019, by e-mail at USCapitalMarkets@kbw.com, by fax at 212-581-1592, or by calling 1-800-966-1559.