<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-Q

[ X ] Quarterly report pursuant to Section 13 or 15(d) of the Securities 
      Exchange Act of 1934

      For the quarterly period ended September 30, 1996.    

[   ] Transition report pursuant to Section 13 or 15(d) of the Exchange Act of
      1934

      For the transition period from            to
                                     ----------    -----------

      Commission file number   0- 13307    
                              -----------


                        The New Iberia Bancorp, Inc.
                        ----------------------------
           (Exact name of registrant as specified in its charter)



              Louisiana                              72-0969631
        -----------------------------            --------------------
         (State or other jurisdiction of            (I.R.S. Employer
        incorporation or organization)            Identification No.)



          800 South Lewis, New Iberia, Louisiana              70560
       --------------------------------------------------------------
         (Address of principal executive offices)         (Zip Code)


     Registrant's telephone number, including area code  (318) 365-6761

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                    Yes X              No
                       ---               ---


                   APPLICABLE ONLY TO ISSUERS INVOLVED IN
                      BANKRUPTCY PROCEEDINGS DURING THE
                            PRECEDING FIVE YEARS:


Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court.

                    Yes                  No     
                       ---                 ---


                    APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

                        2,999,988 shares common stock
<PAGE>   2
     PART I  FINANCIAL INFORMATION
     
     Item 1 -  Financial Statements
     
               (a)  Financial Highlights
               (b)  Consolidated Comparative Balance Sheet
               (c)  Consolidated Comparative Income Statement
               (d)  Consolidated Statement of Changes in Stockholder's Equity
               (e)  Consolidated Statement of Cash Flow
     

     Item 2 -  Management's Discussion and Analysis of Financial Condition and 
               Results of Operations

               (a)  Overview
               (b)  Capital Resources
               (c)  Results of Operations
               (d)  Liquidity


PART II  OTHER INFORMATION

     Item 1 -  Legal Proceedings
     Item 2 -  Changes in Securities
     Item 6 -  Exhibits and Reports on Form 8-K

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                  THE NEW IBERIA BANCORP, INC.
                                  ----------------------------


DATE:  11/08/96                   BY:  /s/ Ernest Freyou
                                       
                                       Ernest Freyou
                                       President and Chief Executive Officer
                                       
                                       
DATE:   11/08/96                  BY:  /s/ Leonard J. Freyou
                                       
                                       Leonard J. Freyou
                                       Senior Vice-President and Cashier
<PAGE>   3
                                   10-Q INDEX

                                     PART I

                             FINANCIAL INFORMATION

<TABLE>
<S>      <C>                                                                                                        <C>
Item 1   Financial Statements

                 Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
                 Consolidated Comparative Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-5
                 Consolidated Comparative Income Statement  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7
                 Consolidated Statement of Changes in
                 Stockholder's Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
                 Consolidated Statement of Cash Flow  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  9-10
                 Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  11


Item 2           Management's Discussion & Analysis of Financial
                 Condition and Results of Operations

                 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12
                 Capital Resources  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12

                 Results of Operations:
                          Net Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  13
                          Earning Assets  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  13
                          Investment Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-14
                          Interest-Bearing Liabilities  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  14
                          Interest Expense  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  15
                          Reserve and Provision for Possible Loan
                                  Losses  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15-16
                          Other Income  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
                          Other Expenses  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
                          Income Taxes  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
                          Nonperforming Assets and Past Due Loans . . . . . . . . . . . . . . . . . . . . . . . . . 16-17

                 Liquidity and Interest Rate Sensitivity  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18-19

                                                         PART II
                                                         -------

                                                    OTHER INFORMATION
                                                    -----------------

Item 1   Legal Proceedings  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  20
Item 2   Changes in Securities  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  20
Item 6   Exhibits and Report on Form 8-K  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21-34
</TABLE>
<PAGE>   4
ITEM 1 (A)                  FINANCIAL HIGHLIGHTS
             (ALL  AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)

<TABLE>
<CAPTION>                                                                
                                                                         PERCENT
                                                   1996       1995       CHANGE
                                                   ----       ----       -------
                                                                         
<S>                                                <C>        <C>        <C>
FOR 9  MOS.      Net Income                        $2,675     $1,909        40%
                                                                         
ENDED 9/30/96    Cash dividends declared           $  950     $  450       111%
                                                                         
                 Average Common Shares                                   
                 Outstanding                        3,000      2,992.8   
--------------------------------------------------------------------------------
                                                                         
PER SHARE        Net Income                        $  .89     $  .64        39%
                                                                         
FOR  9  MOS.     Cash dividends declared           $  .26     $  .15        73%
                                                                         
ENDED 9/30/96    Shareholder's Equity                                    
                 Book Value                        $ 8.34     $ 7.49        11%
                 Market Value                      $16.87     $11.17        51%
                                                                         
--------------------------------------------------------------------------------
                                                                         
FOR  3  MOS.     Net Income                        $  904     $  647        40%
                                                                         
ENDED 9/30/96    Cash dividends declared           $  470     $  150       213%
                                                                         
                 Average Common Shares                                   
                 Outstanding                        3,000      3,000     
                                                                         
--------------------------------------------------------------------------------
                                                                         
PER SHARE        Net Income                        $  .30     $  .22        36%
                                                                         
FOR  3 MOS.      Cash dividends declared           $  .16     $  .05       220%
ENDED 9/30/96                                                              
--------------------------------------------------------------------------------

</TABLE>
                                                                        

<TABLE>
                                                                PERCENT
                                         09/30/96    12/31/95   CHANGE
                                         --------    --------   -------
<S>                                      <C>         <C>        <C>        
                 Total Assets            $282,765    $263,868      7%
                 Total Earning Assets    $265,282    $245,374      8%
                 Total Loans Gross       $178,270    $142,705     25%
                 Total Deposits          $254,821    $237,626      7%
                 Total Shareholder's                           
                         Equity          $ 25,026    $ 23,639      6%
                 Total Trust Assets      $  2,601    $  2,439      7%
</TABLE>
                                                                        
                                                              
                                                              

                                       2
<PAGE>   5



REPRESENTATION OF MANAGEMENT:

All adjustments have been made that, in the opinion of Management, are
necessary to fairly present the financial results for the interim periods
presented.

Operating results for the nine months ended September 30, 1996, are not
necessarily indicative of the results that may be expected for the year ended
December 31, 1996.

Current and previous quarter and year-to-date per share data has been adjusted
for the 3-for-2 stock dividend declared and paid to shareholders on September
24, 1996.





                                       3
<PAGE>   6
ITEM I (B)- CONSOLIDATED COMPARATIVE BALANCE SHEET

<TABLE>
<CAPTION>
                            ASSETS                                         CURRENT QUARTER                      PREVIOUS YEAR
                                                                            AS OF 9/30/96                      AS OF 12/31/95
                                                                           ---------------                     --------------
<S>                                                          <C>           <C>                  <C>             <C>
CASH AND DUE FROM BANKS                                      $11,814,846                          $13,338,408
FEDERAL FUNDS SOLD                                            $9,607,772                           $9,803,320
                                                             -----------                          -----------
     TOTAL CASH, DUE FROM BANKS, FEDERAL FUNDS SOLD                             $21,422,618                       $23,141,728

INVESTMENT SECURITIES:
1.  HELD TO MATURITY: Fair Value of $34,486,592 at 9/30/96 and
               $37,774,879 at 12/31/95, respectively
(A)  U.S. GOVERNMENT:
        MORTGAGE BACKED SECURITIES                           $11,510,595                          $13,616,067
(B)  OBLIGATIONS OF STATES & POLITICAL
     SUBDIVISIONS                                            $22,018,488                          $22,831,240
                                                             -----------                          -----------

     TOTAL INVESTMENT SECURITIES HELD TO MATURITY                               $33,529,083                       $36,447,307

2.  AVAILABLE FOR SALE, at Fair value
(A)  U.S. TREASURY SECURITIES                                $17,939,674                          $23,992,840
(B)  U.S. GOVERNMENT:
        AGENCY NOTES                                          $3,910,360                           $6,551,900
        MORTGAGE BACKED SECURITIES                           $21,187,250                          $23,798,956
(C)  DOMESTIC DEBT SECURITIES                                 $1,353,228                           $1,925,333
(D)  CORPORATE STOCKS IN OTHER BANKS                            $150,084                             $150,084
                                                             -----------                          -----------

     TOTAL INVESTMENT SECURITIES AVAILABLE FOR SALE                             $44,540,596                       $56,419,113

TOTAL INVESTMENT SECURITIES                                                     $78,069,679                       $92,866,420

LOANS HELD FOR SALE                                             $807,000                             $592,750

LOANS:  GROSS                                               $177,554,899                         $142,202,415
  LESS:
     (A) UNEARNED INCOME ON LOANS                               ($92,005)                            ($90,344)
     (B) RESERVE FOR POSSIBLE LOAN LOSSES                    ($3,439,254)                         ($3,396,531)
                                                             -----------                          -----------
LOANS: NET                                                                     $174,830,640                      $139,308,290

BANK PREMISES, EQUIPMENT, FURNITURE & FIXTURES                $5,162,621                           $5,395,155
REAL ESTATE OWNED OTHER THAN BANK PREMISES                            $0                              $50,000
INTANGIBLE ASSETS                                               $136,231                             $226,810
OTHER ASSETS                                                  $3,142,970                           $2,880,022
                                                             -----------                          -----------

     TOTAL OTHER ASSETS                                                          $8,441,822                        $8,551,987
                                                                               ------------                      ------------
TOTAL ASSETS                                                                   $282,764,759                      $263,868,425
                                                                               ============                      ============
</TABLE>



                                      4
<PAGE>   7
ITEM I (B)- CONSOLIDATED COMPARATIVE BALANCE SHEET
            (CONTINUED)

<TABLE>
<CAPTION>
                                                                           CURRENT QUARTER                     PREVIOUS YEAR
                            LIABILITIES AND CAPITAL                         AS OF 9/30/96                      AS OF 12/31/95
<S>                                                          <C>               <C>                <C>            <C>
DEPOSITS IN DOMESTIC OFFICES


(A)  DEMAND                                                  $39,521,918                          $38,858,005
(B)  NOW, SUPER NOW & MONEY MARKET ACCOUNTS                  $68,317,623                          $63,609,993
(C)  SAVINGS & CHRISTMAS CLUB                                $17,199,485                          $17,031,970
(D)  TIME CD'S - $100,000 AND OVER                           $47,553,790                          $45,546,660
(E)  TIME CD'S - OTHER                                       $65,572,268                          $56,428,847
(F)  IRA CD'S                                                $16,655,998                          $16,150,129
                                                             -----------                          -----------
     TOTAL DEPOSITS                                                            $254,821,082                      $237,625,604

FEDERAL FUNDS PURCHASED AND SECURITIES SOLD                                      $1,688,359                        $1,749,621

OTHER LIABILITIES                                                                $1,229,207                          $854,644

     TOTAL LIABILITIES                                                         $257,738,648                      $240,229,869

COMMON STOCK:
(1)  SHARES AUTHORIZED      10,000,000
(2) COMMON STOCK, NO PAR      2,999,988 outstanding          $14,250,750                           $9,500,500
(3)  UNDIVIDED PROFITS                                       $11,150,105                          $14,175,287
(4)  UNREALIZED GAIN(LOSS) ON AFS INVESTMENTS                  ($374,744)                            ($37,231)
                                                             -----------                          -----------
            NET OF INCOME TAX EFFECT
     TOTAL EQUITY CAPITAL                                                       $25,026,111                       $23,638,556
                                                                               ------------                      ------------
TOTAL LIABILITIES AND EQUITY CAPITAL                                           $282,764,759                      $263,868,425
                                                                               ============                      ============
</TABLE>



                                      5
<PAGE>   8
ITEM I - (C) CONSOLIDATED COMPARATIVE STATEMENT OF INCOME

<TABLE>
<CAPTION>                                                             
                                                                 QUARTER            QUARTER      YEAR TO DATE    YEAR TO DATE
                                                                  ENDING             ENDING             ENDED           ENDED
                                                                 9/30/96            9/30/95           9/30/96         9/30/95
                                                              ----------         ----------       -----------      ----------
<S>                                                           <C>                <C>              <C>              <C>       
INTEREST INCOME:                                                                               
 INTEREST & FEES ON LOANS                                     $3,838,669         $3,110,564       $10,581,517      $8,671,282
 U.S. TREASURY NOTES                                            $271,950           $296,153          $941,996      $1,020,265
 U.S. GOVERNMENT:                                                                              
     AGENCY NOTES                                                $72,615           $155,233          $240,857        $531,650
     MORTGAGE BACKED SECURITIES                                 $607,766           $592,802        $1,853,629      $1,871,179
 OBLIGATIONS OF STATE & POLITICAL SUB.                          $286,105           $293,669          $869,145        $914,482
 DOMESTIC DEBT SECURITIES                                        $21,228            $42,585           $62,555        $156,261
 OTHER INTEREST INCOME                                          $114,947           $152,732          $412,063        $338,431
                                                              -----------------------------       ---------------------------
                                                                                               
                                                                                               
TOTAL INTEREST INCOME                                         $5,213,280         $4,643,738       $14,961,762     $13,503,550
                                                                                               
INTEREST EXPENSE:                                                                              
  INTEREST ON DEPOSITS                                        $2,314,124         $2,014,083        $6,635,355      $5,739,203
  INTEREST ON SHORT TERM BORROWING                               $19,874            $23,105           $56,902         $72,921
                                                              -----------------------------       ---------------------------
                                                                                                
TOTAL INTEREST EXPENSE                                        $2,333,998         $2,037,188        $6,692,257      $5,812,124
                                                              -----------------------------       ---------------------------
                                                                                               
NET INTEREST INCOME                                           $2,879,282         $2,606,550        $8,269,505      $7,691,426
                                                                                               
PROVISION FOR LOAN LOSSES                                       $146,800           $150,110          $232,200        $275,000
                                                              -----------------------------       ---------------------------
                                                                                               
NET INTEREST INCOME AFTER PROVISION                           $2,732,482         $2,456,440        $8,037,305      $7,416,426
FOR LOAN LOSSES                                                                                
                                                                                               
COMMISSION & FEES FROM FIDUCIARY ACTIVITIES                       $2,320             $1,170            $5,110          $4,661
                                                                                               
                                                                                               
INSURANCE COMMISSIONS, FEES & PREMIUMS                           $46,580            $31,626          $103,323         $74,852
FEES ON OTHER CUSTOMER SERVICES                                 $328,230           $302,924          $966,471        $873,685
INVESTMENT SECURITIES LOSSES                                     $14,733             $1,010           $14,733        ($22,176)
ALL OTHER INCOME                                                $167,065           $205,410          $610,973        $589,902
                                                              -----------------------------       ---------------------------
                                                                                               
TOTAL INCOME BEFORE OVERHEAD COST                             $3,291,410         $2,998,580        $9,737,915      $8,937,350
</TABLE>                                                           




                                       6
<PAGE>   9

ITEM I - (C) CONSOLIDATED COMPARATIVE STATEMENT OF INCOME (CONTINUED)

<TABLE>
<CAPTION>
                                                                 QUARTER            QUARTER         YEAR TO DATE    YEAR TO DATE
                                                                  ENDING             ENDING                ENDED           ENDED
                                                                 9/30/96            9/30/95              9/30/96         9/30/95
                                                              ----------         ----------           ----------      ----------
<S>                                                           <C>                <C>                  <C>             <C>       
OTHER EXPENSES:                                                                                    
 SALARIES                                                       $951,869         $1,030,852           $2,881,645      $2,928,809
 NET OCCUPANCY EXPENSE OF PREMISES                              $165,221           $141,718             $438,913        $377,795
 FURNITURE & EQUIPMENT                                          $123,302           $115,068             $368,711        $453,912
 OTHER EXPENSES                                                 $766,171           $752,593           $2,329,078      $2,489,656
                                                              -----------------------------           --------------------------
                                                                                                   
 TOTAL OTHER EXPENSES                                         $2,006,563         $2,040,231           $6,018,347      $6,250,172
                                                              -----------------------------           --------------------------
                                                                                                   
 NET INCOME BEFORE INCOME TAX                                 $1,284,847           $958,349           $3,719,568      $2,687,178
                                                              -----------------------------           --------------------------
                                                                                                   
 INCOME TAX EXPENSE                                             $380,804           $310,965           $1,044,499        $778,171
                                                              -----------------------------           --------------------------
                                                                                                   
NET INCOME                                                      $904,043           $647,384           $2,675,069      $1,909,007
                                                              =============================           ==========================
                                                                                                   
                                                                                                   
                                                                                                   
EARNINGS PER SHARE                                                 $0.30              $0.22                $0.89           $0.64
                                                                                                   
DIVIDENDS PER SHARES OUTSTANDING*                                  $0.16              $0.05                $0.26           $0.15
                                                                                                   
</TABLE>

*    $.05 per share ($150,000) for the quarter ended March 31, 1996 was
     declared on April 8, 1996 and paid April 30, 1996

     $.05 per share ($150,000) for the quarter ended June 30, 1996 was declared
     on July 8, 1996 and paid July 31, 1996

     $.07 per share ($200,000) special cash dividend was declared on August 12,
     1996 and paid September 3, 1996

     $.09 per share ($270,000) for the quarter ended September 30, 1996 was
     declared on October 14, 1996 and paid on November 4, 1996




                                       7
<PAGE>   10

Item 1-(D)  CONSOLIDATED CHANGES IN STOCKHOLDER'S EQUITY

<TABLE>
<CAPTION>
                                                             NINE MONTHS            PREVIOUS YEAR
                                                           ENDED 9/30/96            ENDED 9/30/95
                                                           -------------            -------------
<S>                                                          <C>                      <C>        
                                                                                   
STATEMENT OF CHANGES IN CAPITAL ACCOUNTS                                           
                                                                                   
BALANCE AT BEGINNING OF PERIOD                               $23,638,556              $20,026,535
                                                                                   
NET INCOME                                                    $2,675,069               $1,909,007
SALE OF TREASURY STOCK                                                $0                  $33,025
NET CHANGE IN UNREALIZED GAIN/LOSS                                                 
ON AVAILABLE FOR SALE SECURITIES                                                   
(NET OF TAX EFFECT)                                            ($337,514)                $946,891
                                                             -----------              -----------
                                                                                   
TOTAL ADDITIONS                                               $2,337,555               $2,888,923
                                                                                   
DEDUCTIONS:                                                                        
                                                                                   
CASH DIVIDENDS DECLARED*                                        $950,000                 $449,382
                                                                                   
BALANCE AT END OF PERIOD                                     $25,026,111              $22,466,076
                                                             ===========              ===========
</TABLE>                                                                 


*    $.15 per share ($450,000) for the quarter ended December 31, 1995 was
     declared on January 9, 1996 and paid January 31, 1996;

     $.05 per share ($150,000) for the quarter ended March 31, 1996 was
     declared on April 8, 1996 and paid April 30, 1996

     $.05 per share ($150,000) for the quarter ended June 30, 1996 was declared
     on July 8, 1996 and paid July 31, 1996

     $.07 per share ($200,000) special cash dividend was declared on August 12,
     1996 and paid September 3, 1996



                                      8
<PAGE>   11
                          THE NEW IBERIA BANCORP, INC.
                      CONSOLIDATED STATEMENT OF CASH FLOWS
             FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995

<TABLE>
<CAPTION>
                                                                     1996                  1995          
                                                                ------------            -----------         
<S>                                                             <C>                     <C>                 
CASH FLOWS FROM OPERATING ACTIVITIES:                                                                       
  NET INCOME                                                    $  2,675,069            $ 1,909,007         
                                                                                                            
  ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH                                                           
  PROVIDED BY OPERATING ACTIVITIES:                                                                         
                                                                                                            
  DEPRECIATION & AMORTIZATION                                        395,449                478,310         
  DISCOUNT ACCRETION & PREMIUM AMORTIZATION                           83,389                (91,917)        
  PROVISION FOR LOAN LOSSES                                          232,200                275,000         
  NET GAIN ON SALE OF REAL ESTATE OWNED                                    0                 (5,000)        
LOSS ON SALE OR CALL OF INVESTMENT SECURITIES(AFS)                    14,732                 22,176         
  INCREASE IN OTHER LIABILITIES                                      374,563                527,640         
  DECREASE IN OTHER ASSETS                                          (262,948)             1,127,582         
                                                                ------------            -----------         
                                                                                                            
  NET CASH PROVIDED BY OPERATING ACTIVITIES                        3,512,454              4,242,798         
                                                                                                            
CASH FLOWS FROM INVESTING ACTIVITIES:                                                                       
PROCEEDS FROM SALE OF INVESTMENT SECURITIES(AFS)                   1,778,454              4,880,935         
  PROCEEDS FROM MATURITIES & CALL OF INVESTMENT SEC.(HTM)          2,866,032             12,202,556         
  PROCEEDS FROM MATURITIES & CALL OF INVESTMENT SEC.(AFS)         24,835,523              9,879,108         
  PURCHASE OF INVESTMENT SECURITIES(HTM)                                   0             (7,072,000)        
  PURCHASE OF INVESTMENT SECURITIES(AFS)                         (15,110,882)            (3,077,656)        
  NET (INCREASE) DECREASE IN LOANS                               (35,762,570)           (26,557,015)        
  PURCHASE OF BANK PREMISES & EQUIPMENT                              (72,337)              (132,288)        
  PROCEEDS FROM SALE OF:                                                                                    
    OTHER REAL ESTATE OWNED                                           50,000                 80,000         
   BANK VEHICLES                                                           0                  3,000         
                                                                ------------            -----------         
  NET CASH PROVIDED BY (USED IN)                                                                            
  INVESTMENT ACTIVITIES                                         ($21,415,780)           ($9,793,360)        
</TABLE>



                                      9
<PAGE>   12

CONSOLIDATED STATEMENT OF CASH FLOWS
(CONTINUED)

<TABLE>
<CAPTION>                                                                                                
                                                                       1996                    1995         
                                                                    ----------             ----------    
<S>                                                                 <C>                     <C>          
CASH FLOWS FROM FINANCING ACTIVITIES:                                                                    
                                                                                                         
SALE OF TREASURY STOCK                                                       0                 33,025    
  INCREASE IN REPURCHASE AGREEMENTS                                    (61,262)               174,454    
  INCREASE IN DEMAND, NOW & SAVINGS DEPOSITS                         5,539,058                765,910    
  INCREASE IN CERTIFICATES OF DEPOSITS                              11,656,420              9,991,871    
  DIVIDENDS PAID                                                      (950,000)              (449,382)   
                                                                    ----------             ----------    
                                                                                                         
  NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES               16,184,216             10,515,878    
                                                                                                         
  NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS                (1,719,110)             4,965,316    
                                                                                                         
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                    23,141,728             14,043,995    
                                                                                                         
CASH AND CASH EQUIVALENTS AT END OF PERIOD                          21,422,618             19,009,311    
                                                                                                         
SUPPLEMENTAL DISCLOSURE:                                                                                 
                                                                                                         
  INTEREST PAID ON BORROWINGS AND DEPOSITS                           6,638,433              5,705,593    
                                                                                                         
  FEDERAL INCOME TAX PAID                                            1,125,000                803,432    
</TABLE>




                                      10
<PAGE>   13
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1   On August 19, 1996, the Board of Directors of the Corporation adopted
         The New Iberia Bancorp, Inc Nonstatutory Stock Option Plan which
         authorizes the Board of Directors to grant nonstatutory stock options
         to key executive, adminstrative, or other employees of the Corporation
         or the Bank.  The maximum number of shares of common stock of the
         Corporation that may be optioned or sold and (were granted during the
         quarter) were 150,000 shares.  These options were not included in the
         earnings per share calculations because their effect was not material.





                                       11
<PAGE>   14

PART I - FINANCIAL INFORMATION
ITEM 2 -    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
            AND RESULTS OF OPERATIONS

OVERVIEW

In the third quarter of 1996, The New Iberia Bancorp, Inc. (the "Corporation")
recorded net income of $904,043 ($.30 per share).  This compares to the same
period in 1995 when net income was $647,384 ($.22 per share).  The change in
net income is explained by the increase in net interest income of $272,732.
Year to date earnings total $2,675,069 ($.89 per share), which is an increase
of $766,062 over the 1995 amount of $1,909,007 ($.64  per share).  Year to date
net interest income has increased by $578,077 as compared to the same period
last year.  Also, other expenses decreased by $231,825 as compared to last
year, primarily due to a reduction in FDIC assessment costs.  The Corporation
was not required to pay the one time SAIF insurance premium that savings
institutions were required to pay.

On September 30, 1996, total assets of the Corporation were $282,764,759, which
is an increase of   $18,896,334 (7.17% ) from the $263,868,425 reported for
December 31, 1995 and an increase of $35,597,247 (14.41%)  from the balance at
September 30, 1995 of $247,167,512.  Gross loans on September 30, 1996, were
$178,269,894 , an  $35,565,073 (24.93%) increase from the December 31, 1995
balance of $142,704,821  and an increase of $38,209,349 (27.28%) from the
balance on September 30, 1995, of $140,060,545.  Loans held for sale, at their
fair value, on September 30, 1996, December 31, 1995, and September 30, 1995,
were $807,000, $592,750, and $133,128, respectively.  The increase in gross
loans from one year ago is attributable to an increase in commercial loans of
approximately 20%, consumer lending of approximately 35%, and real estate loans
of approximately 45%.   Total deposits were $254,821,082 on September 30, 1996,
a $17,195,478 (7.24% ) increase from the balance of $237,625,604 on December
31, 1995 and an increase of $33,469,140 (15.12%) from the balance on September
30, 1995 of $221,351,942.  The increase in deposits is due to an increase in
demand deposits and certificates of deposit as a result of product promotions
and increases in rates.

CAPITAL RESOURCES

Capital ratios for the quarters ending September 30, 1996, 1995, and 1994:

<TABLE>                                       
<CAPTION>                                     
                                                             Regulatory
                           1996        1995        1994      Minimum*
                           ----        ----        ----      ----------- 
<S>                       <C>         <C>         <C>        <C>
Leverage                   8.81%       8.99%       9.52%           5.00%
                                                                        
Risk-based capital                                                      
Tier I                    14.27%      15.78%      18.23%           6.00%
Total                     15.54%      17.03%      19.73%          10.00%
</TABLE>                                                                
                                              

*Current levels for a well capitalized institution in accordance with the
Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA).  The
unrealized loss on Available for Sale securities reflected in the equity
section of the balance sheet was excluded as required by regulatory agencies in
the computation of these ratios.





                                       12
<PAGE>   15
RESULTS OF OPERATIONS

NET INTEREST INCOME - Net interest income is the difference between interest
earned on assets and interest paid for the funds supporting those assets.  As
of September 30, 1996, net interest income was $8,269,505, an increase of
$578,077 over the same period in 1995.  The increase in net interest income is
the result of an increase in loan volume over the last year  while interest
rates charged on loans has remained fairly stable during the same period.
Interest costs increased throughout 1995 and 1996  due to an increase in
interest bearing deposits and higher rates.

EARNING ASSETS - Earning assets on September 30, 1996 were $265,281,998, an
increase of $19,907,437 (8.11%) from the December 31, 1995 balance of
$245,374,561.  The change is the result of an increase in loans outstanding of
$35,599,726 offset by a decrease of  $195,548 in federal funds sold and
$14,796,741 in investment securities.

The average yield on earning assets for the first nine months of 1996 was 7.85
%.  In 1995, the average yield on earning assets for the same nine month period
was 7.97%.  The yield on loans has decreased to an average of 8.94 % from an
average of 9.14% in 1995.  As mentioned above, loan volume has been the reason
for the slight decline in the yield on loans.  The yield on investments has
decreased to an average of 6.16 % from an average of 6.50% in 1995.  The yield
on investments is down due to the reduction in the average life of the
portfolio by purchasing short term U.S. Treasury Notes and reducing the
purchases of mortgage-backed securities.   The average rate on Fed Funds Sold
has decreased to an average of 5.22% from an average of 5.84% in 1995.  (All
yields are year to date through September of the respective year.)

INVESTMENT SECURITIES - The Corporation's goals with respect to investment
portfolio management is to maintain (i) quality of securities, (ii)  attractive
rates of return on the funds invested and (iii) adequate liquidity to the
Corporation.  The portfolio consists primarily of U.S. Treasury Notes,
Municipal Bonds, and Mortgage-Backed Securities.  U.S. Treasury Notes and
Municipal Bonds maturities are laddered to provide a constant liquidity source.
Mortgage-Backed Securities provide liquidity, monthly cash flow and higher
yields.  The mix of the investment portfolio continues to change, primarily due
to prepayments on mortgage-backed securities.  The Corporation has primarily
reinvested maturities and pay downs in 1996 into loans, where demand has
increased.





                                       13
<PAGE>   16
The breakdown of the investment portfolio as of September 30, 1996 is listed
below:

                           (In Thousands of Dollars)

<TABLE>
<CAPTION>
                               Held to Maturity            Available for Sale
                            -----------------------      ----------------------
                            Amortized     Fair           Amortized         Fair
                            Cost          Value          Cost             Value
                            ---------     ---------      --------       -------
<S>                           <C>           <C>           <C>           <C>
U.S. Treasury Notes               -0-           -0-       $17,954       $17,940
U.S. Government                                                      
         Agency Notes             -0-           -0-         3,974         3,910
         Mortgage-Backed      $11,511       $12,009        21,460        21,188
Obligation State                                                     
         & Political           22,018        22,478           -0-           -0-
Domestic Debt                                                 -0-         1,353 
                                                                               
Corporate Stock                   -0-           -0-           150           150
                                  ---           ---           ---           ---
                                                                     
Total                         $33,529       $34,487       $44,923       $44,541
</TABLE>                                                                
                                                                              

Gross unrealized gains and losses on "Held to Maturity" securities were as
follows: 
                                    (In Thousands of Dollars)
<TABLE>
<CAPTION>
                         BOOK        UNREALIZED    UNREALIZED     MARKET
                         VALUE         GAINS        LOSSES         VALUE
                         ------------------------------------------------
<S>                      <C>         <C>           <C>           <C>
U. S. Government:                             
Mortgage-Backed Sec.     $11,511     $   498       $    0        $12,009
Obligation State                              
& Political              $22,018     $   537       $   77        $22,478
                                              
Total                    $33,529     $ 1,035       $   77        $34,487
</TABLE>                                      


The Corporation had sales of securities totalling $1,788,454 during the third
quarter of 1996. Gross realized gains on sale of these securities were $24,988
while gross realized losses were $10,255, resulting in a net gross realized
gain of $14,733 for the quarter.

INTEREST-BEARING LIABILITIES - Interest-bearing liabilities on September 30,
1996, were $216,987,523, reflecting an increase of $16,470,303 (8.22%) from the
December 31, 1995 balance of $200,517,220 and an increase of $27,711,621
(14.64%) from the September 30, 1995 balance, which totaled $189,275,902.  As
noted previously, the increase in this category from December 1995 is due to an
increase in certificates of deposits and demand deposits over the last year.





                                       14
<PAGE>   17
INTEREST EXPENSE - Interest Expense as of  September 30, 1996 totaled
$6,692,257, which represents an increase of $880,133 (15.15%) from the 1995
amount of $5,812,124.  The increase is due to greater interest cost for
certificates of deposits.  The average rates paid year to date for all
interest-bearing liabilities was 4.33% through September 1996 as compared to
4.12% for the same period in 1995.  All yields are year to date through
September of the respective year.

RESERVE AND PROVISION FOR POSSIBLE LOAN LOSSES

An adequate level of the Allowance for Possible Loan Losses is determined by
reviewing the quality of the loan portfolio, actual loan loss experience and
the current and anticipated economic conditions and their effect on the market
served by the Corporation.  The Provision for Possible Loan Losses is the
amount charged to earnings in order to maintain an adequate level of reserves.
Other significant factors considered in determining the levels of the provision
and the reserve are the growth or decline in the loan portfolio, the
composition of the portfolio, industry concentrations, differing risks
associated with each category of loans, the current and prospective financial
condition of borrowers, the level of past due and nonperforming loans and the
relationship of the reserve to the total loan portfolio.  Management regularly
reviews the loan portfolio in an effort to identify potential losses and to
determine that the level of reserves adequately reflects the potential loss
exposure.  Loans identified as problem credits are reviewed more frequently to
determine potential changes in the reserve.

Since actual losses may vary from current assessments, any necessary
adjustments to the reserve are recorded in the period in which they become
known.  The loan review function of the Corporation monitors adherence to
lending policies and procedures as well as asset quality.

Provision for loan losses for the third quarter of 1996 were $146,800 as
compared to $150,110 , for the same period the previous year.  Provision for
loan losses for the first nine months of 1996 totaled $232,200 compared to
$275,000 for the same period in 1995.  The balance in the reserve over the last
year reflects levels of charge-offs and management's estimates of collateral
values when evaluating exposure in the loan portfolio.  The reserve as a
percentage of loans and leases was 1.93 % at quarter end (September 30, 1996)
compared to 2.38% at year end (December 1995).  Management projects loan growth
to continue slowly throughout the remainder of the year.   This growth is a
factor in Management's periodic determination of the reserve.  Management plans
to make adjustments to the reserve based on recoveries received and charge-offs
made to ensure that an adequate loan loss reserve is maintained.

The diversification of the loan portfolio is an important factor in the
assessment of loan quality and loss potential.  Although the Corporation has
extended a significant amount of loans to energy services and agricultural
customers due to the prevalence of those industries in the local economy, the
Corporation attempts to lend to a variety of industries to minimize its
exposure to possible losses occurring from concentration of loans in any single
sector.  Broadening the Corporation's base of loan activity into the Lafayette,
Louisiana market, along with the steadily improving local economy over the last
few years, has had a positive effect on the performance of the loan portfolio.
During 1993, the U.S. Congress passed the North American Free Trade Agreement
(NAFTA).  The Corporation believes that the increase in competition from
Mexican producers as a result of the passage of NAFTA could have a direct
adverse effect on the agricultural sugar and textile industries.   As such, the
Corporation's  operating market may be indirectly affected.  Another factor
that may affect the quality of the loan portfolio is the opening of gaming
establishments in the Corporation's market.  Although it is not known exactly
what amount of spendable money is now diverted to gaming, management is
concerned about the effect that gaming will have on the Corporation's consumer
loan portfolio.  As of September 30, 1996, consumer loans past due ninety days
and still accruing and nonaccrual consumer loans represented a past due
percentage of 1.02% of total consumer loans, which management believes is below
the national average.  Appropriate consideration has been given to these 
factors in the Corporation's loan loss reserve.





                                       15
<PAGE>   18
Charge-offs year to date for 1996 were $290,516 compared to $244,085 in 1995.
Recoveries year to date for 1996 were $101,039 compared to $179,304 in 1995.
The relatively small levels of charge-offs are attributable to management's
continued efforts to identify and work out problem loans.

Year to date Loan Recoveries compared to prior year charge-offs was 35.72% and
103.37 % for September 1996 and September 1995, respectively.


OTHER INCOME

For the third quarter of 1996, Other Income was $544,195, an increase of $3,066
(.57%) over the $541,129 earned for the same period in 1995.  The increase is
primarily due to increase in fees on other customer services and other income.

OTHER EXPENSES

Total Other Expenses for the third quarter of 1996 was $ 2,006,563, compared to
$2,040,231 for the same period in 1995.  This reflects an decrease of $33,668
(1.65%).  The decrease is due to a reduction in salary costs and other
expenses, such as FDIC assessments.

INCOME TAXES

The effective tax rate for the nine months ended September 30, 1996 is
approximately  28%, which compares to approximately 29% for the nine months
ended September 30, 1995.

NONPERFORMING ASSETS AND PAST DUE LOANS

Crucial to earnings performance is the monitoring of asset quality, chiefly in
the evaluation of credit risk, and the minimization of the Corporation's
exposure to losses.  Management views these two critical functions as essential
to sound banking practice. Therefore, management regularly obtains appraisals
for the collateral supporting nonperforming assets and specifically establishes
reserves for them based on the current market value of the collateral if
necessary.

Nonperforming assets are those loans carried on a non-accrual basis, those
classified as troubled debt restructuring, real estate acquired through
foreclosure and repossessed movable property.  The following schedule reflects
the balance of each category:

<TABLE>                             
<CAPTION>                                              
                                               (In Thousands of Dollars) 
                                                       
                                      September 30, 1996      December 31, 1995
                                      ------------------      -----------------
<S>                                       <C>                       <C>    
Non-accrual Loans                         $ 442                     $ 160  
Troubled Debt Restructuring                 316                       585  
Other Real Estate Owned                       0                        50  
Repossessed Movable Prop                     18                        28  
                                                                           
Total                                     $ 776                     $ 823  
</TABLE>                                  
                                    




                                       16
<PAGE>   19
RISK ELEMENT INFORMATION

<TABLE>                     
<CAPTION>                   
                                               (In Thousands of Dollars)
                                      September 30, 1996    December 31, 1995
                                      ------------------    -----------------
<S>                                       <C>                    <C>
Past due loans 90 days                    $ 558                  $ 282
and still accruing          
</TABLE>                    
                            
<TABLE>
<CAPTION>
                                               (In Thousands of Dollars)
                                      September 30, 1996     September 30, 1995
                                      ------------------     ------------------
<S>                                       <C>                    <C>
Amount of income on non-accrual           $ 14                    $  6
loans that would have been
in income if still accruing

Interest income on restructured           $ 56                    $ 58
loans included in net income
</TABLE>

Typically, the Corporation's restructured loans are based on the ability to
provide principal and interest repayment instead of providing a rate less than
the market.  As a result, any rate adjustment would have resulted in an
immaterial change in earnings during the quarter.

Management is not aware of any loans classified for regulatory purposes as
loss, doubtful, substandard, or special mention and excluded from the
non-accrual, past due 90 days and still accruing, or restructured loans which:
(1) represent or result from trends or uncertainties that will materially
impact future operating results, liquidity, or capital resources, or (2)
represent material credits about which Management is aware of any information
which causes doubts as to the ability of such borrowers to comply with the loan
repayment terms.

On September 30, 1996, impaired loans totaled $593,343.  Of the total impaired
loans, $330,509  required a total reserve of $238,463.  There was no reserve
for impairment on the remaining $354,880 of impaired loans.  During the quarter
ended September 30, 1996, impaired loans averaged $454,155.  Interest income
recognized on impaired loans totalled approximately $20,000 for the quarter.

It is the policy of the Corporation to discontinue the accrual of interest on
loans when principal or interest is in default for ninety days or more, unless,
in the best judgment of the Officer Loan Committee, the loan is well secured
and is in the process of collection.  Interest previously accrued is reversed
and the accrual of interest is discontinued.





                                       17
<PAGE>   20
LIQUIDITY AND INTEREST RATE SENSITIVITY

Built into the Corporation's financial structure is the goal of maintenance of
adequate liquidity; i.e., the ability to meet customers' requirements on a
timely basis.  The Corporation has in place an Asset/Liability computer
software program to aid it in maintaining a reasonable balance between interest
earning assets and interest bearing liabilities.  The information is updated
and analyzed by management on a monthly basis in order to allow management to
diversify investments as needed to keep a proper balance of maturities.
Management also regularly evaluates and manages interest rate sensitivity of
assets and liabilities.  This is critical to protect net income against wide
fluctuations in interest rates and to maintain consistent growth of net
interest income.

The Corporation's liquidity ratio on September 30, 1996 was 31.45 % with a
dependency ratio of  8.08%; the liquidity ratio on December 31, 1995 was 40.97%
with a dependency ratio of  .63%.  The change in the liquidity ratio is the
result of an increase in loans during the year and a reduction in the
investment portfolio.   Management believes that the liquidity position of the
Corporation continues to be good and that liquidity is enhanced by its ability
to manage the interest rate sensitivity of assets and liabilities.  The
dependency ratio has increased from December 1995 due to a decrease in  short
term federal funds and less investment securities maturing within one year.
Management actively monitors and controls the relationship between interest
sensitive assets and liabilities by means of an interest rate simulation model.
The off balance sheet commitments, if funded, would have a limited impact on
the liquidity of the Corporation, primarily due to the maturity structure of
the investment portfolio.





                                       18
<PAGE>   21

<TABLE>  
<CAPTION>

CUMULATIVE MATURITY/RATE SENSITIVITY                   (All Dollar Amounts in Thousands)
------------------------------------------------------------------------------------------------------------------------------------
EARNING ASSETS
                                        1-30        1-60            1-90              1-365       YEAR & OVER           TOTAL
                                                                                              
<S>                                   <C>         <C>             <C>                <C>              <C>             <C>    
LOANS*                                29,157      33,761          41,547             75,057           102,547         177,604
SHORT TERM INVESTMENTS                 9,608       9,608           9,608              9,608                 0           9,608
INVESTMENTS***                         1,000       3,279           4,278             18,286            59,784           78,07
                      --------------------------------------------------------------------------------------------------------------

TOTAL EARNING ASSETS                  39,765      46,648          55,433            102,951           162,331         265,282

FUNDING SOURCES

PUBLIC FUNDS DDA                       9,028       9,028           9,028              9,028                 0           9,028
NOW ACCOUNTS**                             0           0               0                  0            28,522          28,522
MONEY MARKET (IMFA)                   30,768      30,768          30,768             30,768                 0          30,768
CERT. OF DEPOSIT >100M                11,211      14,973          18,857             37,112            13,701          50,813
OTHER TIME DEPOSITS                   15,952      20,235          24,108             56,158            22,811          78,969
SAVINGS**                                  0           0               0                  0            17,199          17,199
REPURCHASE AGREEMENTS                  1,688       1,688           1,688              1,688                 0           1,688
                      --------------------------------------------------------------------------------------------------------------

TOTAL FUNDING                         68,647      76,692          84,449            134,754            82,233         216,987
                      --------------------------------------------------------------------------------------------------------------

CUMULATIVE MATURITY/                 (28,882)    (30,044)        (29,016)           (31,803)           80,098          48,295
                      --------------------------------------------------------------------------------------------------------------

RATE SENSITIVITY (GAP)


AS A % OF EARNING ASSETS              -10.89%     -11.33%         -10.94%            -11.99%
AS A % OF TOTAL ASSETS                -10.21%     -10.63%         -10.26%            -11.25%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

*    LOAN FIGURES REPRESENT RATE SENSITIVITY ONLY, WHILE THE BALANCE SHEET
     REPRESENTS TOTAL GROSS LOANS INCLUDING NON-ACCRUALS AND OVERDRAFTS

**   HISTORICALLY, RATES ON THESE TYPES OF ACCOUNTS HAVE CHANGED LITTLE AS
     COMPARED TO OTHER TYPES OF DEPOSITS, THEREFORE, THESE ACCOUNTS ARE NOT
     CONSIDERED RATE SENSITIVE.

***  $150,084 - FIRST NATIONAL BANKERS BANK AND FNMA STOCK IS NOT RATE
     SENSITIVE AND IS NOT INCLUDED IN THE ONE YEAR AND OVER.

     THE AMOUNT OF PAYDOWNS RECEIVED ON A MONTHLY BASIS ON MORTGAGE BACKED
     SECURITIES IS NOT REFLECTED IN THIS SCHEDULE. PAY DOWNS AVERAGED ABOUT
     $690,000 A MONTH OVER THE FIRST NINE MONTHS OF 1996, AND WOULD NOT HAVE
     CREATED A SIGNIFICANT DIFFERENCE IN THE PERCENTAGES ABOVE.

     THE GAP PERCENTAGES NOTED ABOVE ARE A REFLECTION OF A NEGATIVE POSITION.
     THIS MEASUREMENT SIMPLY SHOWS AT WHAT REPRICING INTERVAL ASSETS AND
     LIABILITIES WILL REPRICE. IT DOES NOT TAKE INTO ACCOUNT AT WHAT LEVEL OF
     RATE CHANGE THE ASSET OR LIABILITY WILL REPRICE. IN GENERAL TERMS, IF
     RATES FALL, NET INTEREST INCOME SHOULD INCREASE AND IF RATES RISE, NET
     INTEREST INCOME SHOULD DECREASE. IN LOOKING AT THE ONE YEAR HORIZON, AND
     GIVEN THAT IN GENERAL, INTEREST RATES SHOULD REMAIN FLAT OR SLIGHTLY
     HIGHER IN THE FUTURE, THE CORPORATION SHOULD ADJUST ITS CURRENT POSITION
     BY SHORTENING THE REPRICING OF ASSETS OR EXTENDED DEPOSIT MATURITIES. THE
     CORPORATION SHOULD CLOSELY MONITOR FUTURE CHANGES IN INTEREST RATES AND
     ACCORDINGLY ADJUST ITS INTEREST RATE POSITION AS NEEDED. THE USE OF THE
     ASSET/LIABILITY MODEL ON A MONTHLY BASIS PROVIDES A GOOD REVIEW AND GIVES
     REALISTIC EXPECTATIONS OF THE AFFECT THAT CHANGES IN INTEREST RATES WILL
     HAVE ON THE INTEREST RATE RISK OF THE CORPORATION.



                                      19
<PAGE>   22
PART II   OTHER INFORMATION

ITEM 1  - LEGAL PROCEEDINGS:


(1) On March 13, 1996, The New Iberia Bank  (the "Bank"), the sole subsidiary
of the Corporation, was sued by Mary Joyce Keel in the 16th Judicial District
Court, Iberia Parish, Louisiana (Docket No. 83846-F).  The Bank's insurance
carrier has been notified of the existence of this suit.  The suit alleges
violations of the plaintiff's rights under the Americans with Disabilities Act
of 1990.  Damages sought are actual damages of not less than $50,000.00 plus
unspecified punitive damages.  The Bank removed  the litigation to federal
court.  The trial date has been set for June 16, 1997.

(2) The Bank is named as the trustee of The Jules B. Schwing Childrens Trust
(the "Trust") in the last will and testament of Jules B. Schwing.  Under the
will, the main asset of the Trust will be stock of the Corporation,
(approximately 31% of the total issued and outstanding common stock of the
Corporation),  although the Succession has not been closed and the assets
thereof have not been dispersed to the heirs and legatees.

On or about April 21, 1996, certain of the children of Jules B. Schwing  (the
"Petitioning Heirs") filed  in the Succession a Petition to Annul Probated
Testament (the "Petition"), which sought to annul the last will and testament
of Jules B. Schwing.  The Bank, as trustee of the Trust, was named as a
defendant in the Petition.

On June 24, 1996, the Bank, in its capacity as trustee of the Trust, filed in
the Succession an Exception to Unauthorized Use of Ordinary Proceeding and
Motion to Convert Petition to Annul Probated Testament to Summary Proceeding.
Prior to the hearing on this matter, in support  of the Bank's exceptions and
motion, Robert M. Fleming, the court appointed Executor of the Succession,
filed a Memorandum in Opposition to Use of Ordinary Proceeding to Annul
Testament.  This exception was granted on August 8, 1996, and the matter will
now proceed to trial as a summary proceeding.  A trial date is currently set
for January 6, 1997.

On or about October 16, 1997, the Petitioning Heirs filed a Motion to
Terminate, In Part, or Modify Trust, or Alternatively, to Appoint a Substitute
Trustee, which seeks to terminate or modify the Trust or to appoint a
substitute trustee in place of the Bank.  A hearing on this motion is also
scheduled for January 6, 1997.


ITEM 2   CHANGES IN SECURITIES

On August 12, 1996, the Board of Directors amended the Bylaws of the
Corporation increasing the number of directors from eleven to twelve.





                                       20
<PAGE>   23


                                EXHIBIT INDEX

EXHIBITS

3.2      Amended and Restated Bylaws of The New Iberia Bancorp, Inc. dated 
         July 10, 1995, as amended on August 12, 1996 (filed with the 
         Commission on October 21, 1996 as Exhibit 4 to the Corporation's 
         Form S-8 Registration Statement and incorporated herein by reference). 

10.1     The New Iberia Bancorp Inc. Nonstatutory Stock Option Plan approved by
         the Board of Directors of the Corporation on August 19, 1996.

10.2     Form of Stock Option Agreement pursuant to The New Iberia Bancorp,
         Inc. Nonstatutory Stock Option Plan

27       Financial Data Schedule





                                       21