The fair value estimates presented herein are based upon pertinent information available to management as of December 31, 2002 and 2001. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since that date and, therefore, current estimates of fair value may differ significantly from the amounts presented herein. The following is a summary of the components of other comprehensive income: The Bank is restricted under applicable laws in the payment of dividends to an amount equal to current year earnings plus undistributed earnings for the immediately preceding year, unless prior permission is received from the Commissioner of Financial Institutions for the State of Louisiana. Dividends payable without permission by the Bank in 2003 will be limited to 2003 earnings plus an additional $1,346,000. Accordingly, at January 1, 2003, $139,567,000 of the Company’s equity in the net assets of the Bank was restricted. Funds available for loans or advances by the Bank to the Company amounted to $11,782,000. Condensed financial statements of IBERIABANK Corporation (parent company only) are shown below. The parent company has no significant operating activities. (dollars in thousands) 2002 2001 Assets Cash in bank $ 9,552 $ 1,756  Investment in subsidiaries 141,223 138,298  Other assets 856 369  Total assets $151,631 $140,423  Liabilities and Shareholders' Equity Liabilities $ 12,033 $ 6,006  Shareholders' equity 139,598 134,417  Total liabilities and shareholders' equity $151,631  $140,423  Years Ended December 31, (dollars in thousands) 2002 2001 2000 Unrealized gain (loss) on securities available for sale, net $ 1,738 $ 4,784 $ 5,674 Unrealized gain (loss) on cash flow hedges (1,822) – – Reclassification adjustment for net (gains) losses realized in net income 42 (119)1,759 Other comprehensive income (loss) (42) 4,665 7,433 Income tax (expense) benefit related to other comprehensive income 15 (1,633)(2,602) Other comprehensive income (loss), net of income taxes $ (27) $ 3,032 $ 4,831 NOTE 17 – COMPREHENSIVE INCOME: NOTE 18 – RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES: NOTE 19 - CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS: CONDENSED BALANCE SHEETS DECEMBER 31, 2002 AND 2001 58