Investor Presentaiton
Transaction Rationale
Compelling
Strategic
Rationale
Financially
Attractive
.
Miami is rapidly consolidating from a community bank perspective and dominated by large
banks, with over 90% of local share
$1.6 billion asset Miami franchise with in-market consolidation opportunities in six of eight
locations (five of six branch locations in Florida)
Operating leverage driven by significant franchise consolidation
Ability to further solidify Miami, MSA presence, moving IBKC to $9.7 billion in total deposits
in Florida, with the 11th ranked deposit share in the Miami, MSA and 13th in the state and an
opportunity to enter the New York, NY market
Private Banking and wealth focus will enable IBERIABANK to increase assets under
management by over 30%
Accretive to our GAAP EPS in 2019 and 2020
Minimal dilution to tangible book value per share ("TBVPS")
TBVPS earnback of less than two years (cross-over method¹)
IRR over 20% - well in excess of our cost of capital
Net Present Value of the cost savings is greater than total consideration
Comprehensive due diligence conducted
Gibraltar's previous regulatory issues have been resolved
Low Risk
Strong credit and excellent asset quality
IBERIABANK has extensive experience integrating acquisitions and familiarity with the
market
(1) Crossover method earn-back compares pro forma projected tangible book value per share
to standalone projected tangible book value per share.
4
IBERIABANK
CorporationView entire presentation