Business Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segments

NOTE 15 – BUSINESS SEGMENTS

Each of the Company’s reportable operating segments is a business unit that serves the specific needs of the Company’s customers based on the products and services it offers. The reportable segments are based upon those revenue-producing components for which separate financial information is produced internally and are subject to evaluation by the chief operating decision maker in deciding how to allocate resources to segments. The Company reports the results of its operations through three business segments: IBERIABANK, IMC, and LTC.

The IBERIABANK segment represents the Company’s commercial and retail banking functions including its lending, investment, and deposit activities. IBERIABANK also includes the Company’s wealth management, capital markets, and other corporate functions that are not specifically related to a strategic business unit. The IMC segment represents the Company’s origination, funding and subsequent sale of one-to-four family residential mortgage loans. The LTC segment represents the Company’s title insurance and loan closing services. Certain expenses not directly attributable to a specific reportable segment are allocated to segments based on pre-determined means that reflect utilization.

Also within IBERIABANK are certain reconciling items in order to translate reportable segment results into consolidated results. The following tables present certain information regarding our operations by reportable segment, including a reconciliation of segment results to reported consolidated results for the periods presented. Reconciling items between segment results and reported results include:

• Elimination of interest income and interest expense representing interest earned by IBERIABANK on interest-bearing checking accounts held by related companies, as well as the elimination of the related deposit balances at the IBERIABANK segment;

• Elimination of investment in subsidiary balances on certain operating segments included in total and average segment assets; and

• Elimination of intercompany due to and due from balances on certain operating segments that are included in total and average segment assets.

	Three Months Ended March 31, 2015
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest income	$	136,830		$	1,754		$	1		$	138,585
Interest expense		12,290			491			—			12,781
Net interest income		124,540			1,263			1			125,804
Provision for loan losses		5,345			—			—			5,345
Mortgage income		(1	)		18,024			—			18,023
Title revenue		—			—			4,629			4,629
Other non-interest income		26,251			(2	)		(2	)		26,247
Allocated expenses		(4,847	)		3,528			1,319			—
Non-interest expenses		116,005			12,916			4,232			133,153
Income before income taxes		34,287			2,841			(923	)		36,205
Income tax expense		10,313			1,122			(356	)		11,079
Net income (loss)	$	23,974		$	1,719		$	(567	)	$	25,126
Total loans and loans held for sale	$	12,869,096		$	219,409		$	—		$	13,088,505
Total assets		17,775,541			254,401			24,729			18,054,671
Total deposits		14,663,184			4,889			—			14,668,073
Average assets		15,732,790			181,942			24,753			15,939,485

	Three Months Ended March 31, 2014
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest income	$	113,149		$	1,082		$	1		$	114,232
Interest expense		9,603			221			—			9,824
Net interest income		103,546			861			1			104,408
Provision for loan losses		2,096			7			—			2,103
Mortgage income		(3	)		10,136			—			10,133
Title revenue		—			—			4,167			4,167
Other non-interest income		21,392			(11	)		—			21,381
Allocated expenses		(3,130	)		2,191			939			—
Non-interest expenses		93,046			10,299			3,889			107,234
Income before income taxes		32,923			(1,511	)		(660	)		30,752
Income tax expense		9,257			(588	)		(253	)		8,416
Net income (loss)	$	23,666		$	(923	)	$	(407	)	$	22,336
Total loans and loans held for sale	$	9,620,359		$	152,413		$	—		$	9,772,772
Total assets		13,349,465			176,106			24,661			13,550,232
Total deposits		10,896,508			2,355			—			10,898,863
Average assets		13,198,208			139,057			24,972			13,362,237