Condensed Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Parent Company Only Financial Statements

NOTE 27 – CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS

Condensed financial statements of IBERIABANK Corporation (parent company only) are shown below. The parent company has no significant operating activities.

Condensed Balance Sheets

(Dollars in thousands)	December 31
	2014		2013
Assets
Cash in bank	$	36,064	$	98,108
Investment in subsidiaries		1,842,120		1,487,337
Other assets		119,494		80,528
	$	1,997,678	$	1,665,973
Liabilities and Shareholders’ Equity
Liabilities	$	144,829	$	134,994
Shareholders’ Equity		1,852,849		1,530,979
	$	1,997,678	$	1,665,973

Condensed Statements of Income

(Dollars in thousands)	Year Ended December 31
	2014			2013			2012
Operating income
Dividends from bank subsidiary	$	—		$	49,000		$	70,000
Dividends from non-bank subsidiaries		—			1,511			—
Reimbursement of management expenses		46,433			34,474			94,053
Other income		437			869			(836	)
Total operating income		46,870			85,854			163,217
Operating expenses
Interest expense		3,224			3,232			3,427
Salaries and employee benefits expense		31,981			29,159			76,527
Other expenses		14,576			13,676			47,309
Total operating expenses		49,781			46,067			127,263
Income (loss) before income tax benefit and increase in equity in undistributed earnings of subsidiaries		(2,911	)		39,787			35,954
Income tax benefit		(518	)		(2,808	)		(11,842	)
Income (loss) before equity in undistributed earnings of subsidiaries		(2,393	)		42,595			47,796
Equity in undistributed earnings of subsidiaries		107,843			22,508			28,599
Net income	$	105,450		$	65,103		$	76,395

Condensed Statements of Cash Flows

(Dollars in thousands)	Year Ended December 31
	2014			2013			2012
Cash Flow from Operating Activities
Net income	$	105,450		$	65,103		$	76,395
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		595			2,035			4,926
Net income of subsidiaries		(107,843	)		(73,019	)		(98,599	)
Noncash compensation expense		11,984			10,704			9,907
Loss on sale of assets		—			—			7
Derivative losses on swaps		—			—			2
Tax benefit associated with share-based payment arrangements		(2,105	)		(886	)		(1,221	)
Other, net		(27,273	)		7,574			(10,557	)
Net Cash (Used in) Provided by Operating Activities		(19,192	)		11,511			(19,140	)
Cash Flow from Investing Activities
Cash received in excess of cash paid in acquisition		4,783			—			1,272
Proceeds from sale of premises and equipment		—			11,751			5
Purchases of premises and equipment		(36	)		(5,247	)		(4,173	)
Capital contributed to subsidiary		(14,600	)		—			(2,000	)
Dividends received from subsidiaries		—			50,511			70,000
Acquisition		—			—			—
Net Cash Provided by (Used in) Investing Activities		(9,853	)		57,015			65,104
Cash Flow from Financing Activities
Repayments of long-term debt		—			—			(2,867	)
Dividends paid to shareholders		(43,070	)		(40,332	)		(40,069	)
Proceeds from sale of treasury stock for stock options exercised		11,693			8,101			2,813
Payments to repurchase common stock		(3,727	)		(2,280	)		(42,245	)
Common stock issued		—			—			—
Costs of issuance of common stock		—			—			—
Tax benefit associated with share-based payment arrangements		2,105			886			1,221
Net Cash Used In Financing Activities		(32,999	)		(33,625	)		(81,147	)
Net (Decrease) Increase in Cash and Cash Equivalents		(62,044	)		34,901			(35,183	)
Cash and Cash Equivalents at Beginning of Period		98,108			63,207			98,390
Cash and Cash Equivalents at End of Period	$	36,064		$	98,108		$	63,207