IBERIABANK Corporation announced consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company announced interest income of $269,703,000 compared to $180,805,000 for the same period a year ago. Net interest income was $235,502,000 compared to $161,665,000 for the same period a year ago. Income before income taxes was $91,386,000 compared to $58,164,000 for the same period a year ago. Net income was $10,278,000 compared to $45,130,000 for the same period a year ago. Earnings allocated to common shareholders was $9,228,000 compared to $43,759,000 for the same period a year ago. Earnings per common share, diluted were $0.17 compared to $1.04 for the same period a year ago. Non-GAAP core earnings per diluted share were $1.33 compared to $1.16 for the same period a year ago. Return on average assets (GAAP) was 0.15% compared to 0.85% for the same period a year ago. Return on average common equity (GAAP) was 1.02% compared to 6.70% for the same period a year ago. Core return on average tangible common equity (non-GAAP) was 12.73% compared to 10.75% for the same period a year ago. Core return on average assets (non-GAAP) was 1.03% compared to 0.94% for the same period a year ago. Book value per share was $66.17 compared to $62.68 for the same period a year ago. Tangible book value (Non-Gaap) per share was $42.56 compared to $45.80 for the same period a year ago.

For the full year, the company announced interest income of $913,783,000 compared to $716,939,000 for the same period a year ago. Net interest income was $808,846,000 compared to $649,238,000 for the same period a year ago. Income before income taxes was $292,879,000 compared to $271,970,000 for the same period a year ago. Net income was $142,413,000 compared to $186,777,000 for the same period a year ago. Earnings allocated to common shareholders was $132,108,000 compared to $176,928,000 for the same period a year ago. Earnings per common share, diluted were $2.59 compared to $4.30 for the same period a year ago. Earnings per share, diluted, excluding non-operating items (non-GAAP) was $4.47 compared to $4.43 for the same period a year ago.

For the fourth quarter ended December 31, 2017, the company announced net charge-offs totaled $10.1 million in this quarter, down $18.7 million, or 65%, compared to third quarter of 2017.  Annualized net charge-offs equated to 0.20% of average loans in fourth quarter of 2017, a 42 basis point decrease on a linked quarter basis.

The effective tax rate in 2018 is expected to be 21% - 22%, which revises from its previous guidance of 32.5% - 33.5% disclosed prior to the passing of tax reform.