10-Q

UNITED STATES

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 March 31, 2017

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-37532

IBERIABANK Corporation

(Exact name of registrant as specified in its charter)

Louisiana	72-1280718
(State or other jurisdiction of incorporation or organization	(I.R.S. Employer Identification Number)

200 West Congress Street
Lafayette, Louisiana	70501
(Address of principal executive office)	(Zip Code)

(337) 521-4003

(Registrant’s telephone number, including area code)

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  ¨

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	x	Accelerated Filer	¨
Non-accelerated Filer	¨	Smaller Reporting Company	¨
		Emerging Growth Company	¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

At April 30, 2017, the Registrant had 50,966,193 shares of common stock, $1.00 par value, which were issued and outstanding.

IBERIABANK CORPORATION AND SUBSIDIARIES

TABLE OF CONTENTS

	Page
Part I. Financial Information
Item 1.       Financial Statements (unaudited)
Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016	4
Consolidated Statements of Comprehensive Income for the three months ended March 31, 2017 and 2016	5
Consolidated Statements of Shareholders’ Equity for the three months ended March 31, 2017 and 2016	7
Consolidated Statements of Cash Flows for the three months ended March 31, 2017 and 2016	8
Notes to Unaudited Consolidated Financial Statements	10
Item 2.        Management’s Discussion and Analysis of Financial Condition and Results of Operations	49
Item 3.       Quantitative and Qualitative Disclosures About Market Risk	77
Item 4.       Controls and Procedures	77
Part II. Other Information	78
Item 1.       Legal Proceedings	78
Item 1A.     Risk Factors	78
Item 2.       Unregistered Sales of Equity Securities and Use of Proceeds	80
Item 3.       Defaults Upon Senior Securities	80
Item 4.       Mine Safety Disclosures	80
Item 5.       Other Information	80
Item 6.       Exhibits	81
Signatures	82

3

Part I. FINANCIAL INFORMATION

Item 1. Financial Statements

IBERIABANK CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

	(unaudited)
(Dollars in thousands, except share data)	March 31, 2017			December 31, 2016
Assets
Cash and due from banks	$	276,979		$	295,896
Interest-bearing deposits in banks	1,024,139			1,066,230
Total cash and cash equivalents	1,301,118			1,362,126
Securities available for sale, at fair value	3,823,953			3,446,097
Securities held to maturity (fair values of $86,813 and $89,932, respectively)	86,018			89,216
Mortgage loans held for sale, at fair value	122,333			157,041
Loans, net of unearned income	15,132,202			15,064,971
Allowance for loan losses	(144,890		)	(144,719		)
Loans, net	14,987,312			14,920,252
Premises and equipment, net	303,978			306,373
Goodwill	726,856			726,856
Other assets	656,911			651,229
Total Assets	$	22,008,479		$	21,659,190
Liabilities
Deposits:
Non-interest-bearing	$	5,031,583		$	4,928,878
Interest-bearing	12,280,682			12,479,405
Total deposits	17,312,265			17,408,283
Short-term borrowings	448,696			509,136
Long-term debt	628,085			628,953
Other liabilities	161,458			173,124
Total Liabilities	18,550,504			18,719,496
Shareholders’ Equity
Preferred stock, $1 par value - 5,000,000 shares authorized
Non-cumulative perpetual, liquidation preference $10,000 per share; 13,750 shares and 13,750 shares issued and outstanding, respectively, including related surplus	132,097			132,097
Common stock, $1 par value - 100,000,000 shares authorized; 50,969,908 and 44,795,386 shares issued and outstanding, respectively	50,970			44,795
Additional paid-in capital	2,563,335			2,084,446
Retained earnings	732,994			704,391
Accumulated other comprehensive income (loss)	(21,421		)	(26,035		)
Total Shareholders’ Equity	3,457,975			2,939,694
Total Liabilities and Shareholders’ Equity	$	22,008,479		$	21,659,190

The accompanying Notes are an integral part of these Consolidated Financial Statements.

4

IBERIABANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income

(unaudited)

	Three Months Ended March 31,
(Dollars in thousands, except per share data)	2017			2016
Interest and Dividend Income
Loans, including fees	$	168,976		$	163,991
Mortgage loans held for sale, including fees	971			1,401
Investment securities:
Taxable interest	17,864			13,548
Tax-exempt interest	2,063			1,664
Amortization of FDIC loss share receivable	—			(4,386		)
Other	2,659			718
Total interest and dividend income	192,533			176,936
Interest Expense
Deposits:
NOW and MMDA	11,100			7,358
Savings	320			222
Time deposits	4,638			4,354
Short-term borrowings	277			485
Long-term debt	3,380			3,114
Total interest expense	19,715			15,533
Net interest income	172,818			161,403
Provision for loan losses	6,154			14,905
Net interest income after provision for loan losses	166,664			146,498
Non-interest Income
Mortgage income	14,115			19,940
Service charges on deposit accounts	11,153			10,951
Title revenue	4,741			4,745
Broker commissions	2,738			3,823
ATM/debit card fee income	3,585			3,503
Credit card and merchant-related income	3,227			2,655
Income from bank owned life insurance	1,311			1,202
Gain on sale of available for sale securities	—			196
Other non-interest income	6,476			8,830
Total non-interest income	47,346			55,845
Non-interest Expense
Salaries and employee benefits	81,853			80,742
Net occupancy and equipment	16,021			16,907
Communication and delivery	3,044			3,059
Marketing and business development	3,424			3,502
Data processing	6,941			5,918
Professional services	5,335			3,780
Credit and other loan related expense	4,526			2,671
Insurance	4,529			4,184
Travel and entertainment	2,484			2,383
Other non-interest expense	12,861			14,306
Total non-interest expense	141,018			137,452
Income before income tax expense	72,992			64,891
Income tax expense	22,519			22,122
Net Income	50,473			42,769
Preferred stock dividends	(3,599		)	(2,576		)
Net Income Available to Common Shareholders	$	46,874		$	40,193

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Income available to common shareholders - basic	$	46,874		$	40,193
Earnings allocated to unvested restricted stock	(346		)	(460		)
Earnings allocated to common shareholders	$	46,528		$	39,733
Earnings per common share - Basic	$	1.01		$	0.98
Earnings per common share - Diluted	1.00			0.97
Cash dividends declared per common share	0.36			0.34
Comprehensive Income
Net Income	$	50,473		$	42,769
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) arising during the period (net of tax effects of $2,421 and $13,702, respectively)	4,496			25,447
Reclassification adjustment for gains included in net income (net of tax effects of $0 and $69, respectively)	—			(127		)
Unrealized gains (losses) on securities, net of tax	4,496			25,320
Fair value of derivative instruments designated as cash flow hedges:
Change in fair value of derivative instruments designated as cash flow hedges during the period (net of tax effects of $88 and $2,223, respectively)	163			(4,127		)
Reclassification adjustment for gains included in net income (net of tax effects of $24 and $0, respectively)	(45		)	—
Fair value of derivative instruments designated as cash flow hedges, net of tax	118			(4,127		)
Other comprehensive income (loss), net of tax	4,614			21,193
Comprehensive income	$	55,087		$	63,962

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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IBERIABANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Shareholders’ Equity

(unaudited)

							Additional Paid in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total
	Preferred Stock			Common Stock
(Dollars in thousands, except share and per share data)	Shares	Amount		Shares	Amount
Balance, December 31, 2015	8,000	$	76,812	41,139,537	$	41,140	$	1,797,982		$	584,486		$	(1,585	)	$	2,498,835
Net income	—	—		—	—		—			42,769			—			42,769
Other comprehensive income/(loss)	—	—		—	—		—			—			21,193			21,193
Cash dividends declared, $0.34 per share	—	—		—	—		—			(14,019		)	—			(14,019		)
Preferred stock dividends	—	—		—	—		—			(2,576		)	—			(2,576		)
Common stock issued under incentive plans, net of shares surrendered in payment, including tax benefit	—	—		92,323	92		(2,255		)	—			—			(2,163		)
Share-based compensation cost	—	—		—	—		3,870			—			—			3,870
Balance, March 31, 2016	8,000	$	76,812	41,231,860	$	41,232	$	1,799,597		$	610,660		$	19,608		$	2,547,909
Balance, December 31, 2016	13,750	$	132,097	44,795,386	$	44,795	$	2,084,446		$	704,391		$	(26,035	)	$	2,939,694
Net income	—	—		—	—		—			50,473			—			50,473
Other comprehensive income/(loss)	—	—		—	—		—			—			4,614			4,614
Cash dividends declared, $0.36 per share	—	—		—	—		—			(18,271		)	—			(18,271		)
Preferred stock dividends	—	—		—	—		—			(3,599		)	—			(3,599		)
Common stock issued under incentive plans, net of shares surrendered in payment, including tax benefit	—	—		74,522	75		(3,926		)	—			—			(3,851		)
Common stock issued	—	—		6,100,000	6,100		479,094			—			—			485,194
Share-based compensation cost	—	—		—	—		3,721			—			—			3,721
Balance, March 31, 2017	13,750	$	132,097	50,969,908	$	50,970	$	2,563,335		$	732,994		$	(21,421	)	$	3,457,975

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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IBERIABANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(unaudited)

	For the Three Months Ended March 31,
(Dollars in thousands)	2017			2016
Cash Flows from Operating Activities
Net income	$	50,473		$	42,769
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and accretion	2,199			1,103
Amortization of purchase accounting and market value adjustments	(6,958		)	(2,695		)
Provision for loan losses	6,154			14,905
Share-based compensation cost - equity awards	3,721			3,870
(Gain)/loss on sale of assets, net	54			3
(Gain)/loss on sale of available for sale securities	—			(196		)
(Gain)/loss on sale of OREO, net	(800		)	(3,534		)
Amortization of premium/discount on securities, net	6,405			4,871
Derivative losses (gain) on swaps	(69		)	—
(Benefit) expense for deferred income taxes	(10,565		)	(4,698		)
Originations of mortgage loans held for sale	(393,924		)	(517,661		)
Proceeds from sales of mortgage loans held for sale	440,337			507,372
Realized and unrealized (gain)/loss on mortgage loans held for sale, net	(13,689		)	(19,668		)
Other operating activities, net	(20,864		)	16,730
Net Cash Provided by Operating Activities	62,474			43,171
Cash Flows from Investing Activities
Proceeds from sales of available for sale securities	—			49,531
Proceeds from maturities, prepayments and calls of available for sale securities	113,940			98,439
Purchases of available for sale securities	(491,055		)	(68,609		)
Proceeds from maturities, prepayments and calls of held to maturity securities	2,968			2,589
Purchases of held to maturity securities	—			—
Purchases of equity securities	(200		)	(21,569		)
Increase in loans, net of loans acquired	(60,609		)	(114,232		)
Proceeds from sale of premises and equipment	7			1,158
Purchases of premises and equipment, net of premises and equipment acquired	(2,761		)	(4,600		)
Proceeds from disposition of OREO	4,374			13,240
Cash paid for investment in tax credit entities	(795		)	(5,617		)
Other investing activities, net	6,327			(770		)
Net Cash Used in Investing Activities	(427,804		)	(50,440		)
Cash Flows from Financing Activities
Increase/(decrease) in deposits, net of deposits acquired	(95,916		)	81,931
Net change in short-term borrowings, net of borrowings acquired	(60,440		)	171,621
Proceeds from long-term debt	—			260,000
Repayments of long-term debt	(622		)	(1,168		)
Cash dividends paid on common stock	(16,126		)	(13,988		)
Cash dividends paid on preferred stock	(3,599		)	(2,576		)
Net share-based compensation stock transactions	(4,169		)	17
Payments to repurchase common stock	—			(2,180		)
Net proceeds from issuance of common stock	485,194			—
Net proceeds from issuance of preferred stock	—			—
Net Cash Provided by Financing Activities	304,322			493,657
Net Increase (Decrease) In Cash and Cash Equivalents	(61,008		)	486,388

8

Cash and Cash Equivalents at Beginning of Period	1,362,126		510,267
Cash and Cash Equivalents at End of Period	$	1,301,118	$	996,655
Supplemental Schedule of Non-cash Activities
Acquisition of real estate in settlement of loans	$	2,733	$	1,937
Common stock issued in acquisition	$	—	$	—
Supplemental Disclosures
Cash paid for:
Interest on deposits and borrowings	$	19,850	$	14,703
Income taxes, net	$	39,609	$	4,150

The accompanying Notes are an integral part of these Consolidated Financial Statements.

9

IBERIABANK CORPORATION AND SUBSIDIARIES

Notes to Consolidated Financial Statements

NOTE 1 - BASIS OF PRESENTATION

General

The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for a fair presentation of the consolidated financial statements have been made. These interim financial statements should be read in conjunction with the audited consolidated financial statements and footnote disclosures for the Company previously filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Operating results for the period ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

When we refer to the “Company,” “we,” “our,” or “us” in this Report, we mean IBERIABANK Corporation and subsidiaries (consolidated). When we refer to the “Parent,” we mean IBERIABANK Corporation. See the Glossary of Acronyms at the end of this Report for terms used throughout this Report.

Principles of Consolidation

The Company’s consolidated financial statements include all entities in which the Company has a controlling financial interest under either the voting interest or variable interest model. The assessment of whether or not the Company has a controlling interest (i.e., the primary beneficiary) in a variable interest entity ("VIE") is performed on an on-going basis. All equity investments in non-consolidated VIEs are included in "other assets" in the Company’s consolidated balance sheets. The Company’s maximum exposure to loss as a result of its involvement with non-consolidated VIEs was approximately $92 million and $91 million at March 31, 2017 and December 31, 2016, respectively. The Company's maximum exposure to loss was equivalent to the carrying value of its investments and any related outstanding loans to the non-consolidated VIEs.

Investments in entities that are not consolidated are accounted for under either the equity, cost, or proportional amortization method of accounting. Investments for which the Company has the ability to exercise significant influence over the operating and financing decisions of the entity are accounted for under the equity method. Investments for which the Company does not hold such ability are accounted for under the cost method. Investments in qualified affordable housing projects, which meet certain criteria, are accounted for under the proportional amortization method.

The consolidated financial statements include the accounts of the Company and its subsidiaries, IBERIABANK; Lenders Title Company; IBERIA Capital Partners, LLC; 1887 Leasing, LLC; IBERIA Asset Management, Inc.; 840 Denning, LLC; and IBERIA CDE, LLC. Effective January 1, 2017, IBERIABANK Mortgage Company, previously a subsidiary of IBERIABANK, merged into IBERIABANK. All significant intercompany balances and transactions have been eliminated in consolidation. All normal, recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the financial statements have been included.

Nature of Operations

The Company offers commercial and retail banking products and services to customers throughout locations in eight states through IBERIABANK. The Company also operates mortgage production offices in 10 states and offers a full line of title insurance and closing services throughout Arkansas and Louisiana through LTC and its subsidiaries. ICP provides equity research, institutional sales and trading, and corporate finance services throughout the energy industry. 1887 Leasing, LLC owns an aircraft used by management of the Company. IAM provides wealth management and trust services for commercial and private banking clients. CDE is engaged in the purchase of tax credits.

Reclassifications

Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. These reclassifications did not have a material effect on previously reported consolidated financial statements.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are susceptible to significant change in the near term are the allowance for credit losses, valuation of and accounting for acquired loans, goodwill and other intangibles, and income taxes.

10

Concentrations of Credit Risk

Most of the Company’s business activity is with customers located in the southeastern United States. The Company’s lending activity is concentrated in its market areas in those states. The Company has emphasized originations of commercial loans and private banking loans, defined as loans to higher net worth clients. Repayments on loans are expected to come from cash flows of the borrower and/or guarantor. Losses on secured loans are limited by the net realizable value of the collateral upon default of the borrowers and guarantor support. Concentrations in commercial real estate have increased as a result of the Company's organic growth and recent acquisitions of banks with significant CRE portfolios. Additionally, as the Company has executed its risk-off strategy over the past two years, CRE concentrations have naturally increased as a percentage of the total portfolio. The Company does not have any excessive concentrations to any one industry or customer.

NOTE 2 - RECENT ACCOUNTING PRONOUNCEMENTS

Pronouncements adopted during the quarter ended March 31, 2017:

ASU No. 2016-09

In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments require recognition of excess tax benefits and deficiencies associated with awards which vest or settle within income tax expense or benefit in the statement of comprehensive income, with the tax effects treated as discrete items in the reporting period in which they occur. The ASU further requires entities to recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period, which eliminates the APIC pool concept. The ASU also requires entities to exclude excess tax benefits and deficiencies from assumed proceeds when applying the treasury stock method to share-based payment awards to determine their dilutive effect on EPS; allows an accounting policy election to account for forfeitures as they occur; permits an entity to withhold up to the maximum statutory tax rates in the applicable jurisdictions while still qualifying for equity classification; and changes the classification of certain cash flows associated with stock compensation.

The Company adopted the amendments effective January 1, 2017 as follows: (i) prospective adoption of the recognition of excess tax benefits associated with awards which vested or settled during the quarter ended March 31, 2017 in the statement of comprehensive income; (ii) prospective adoption of the exclusion of excess tax benefits from assumed proceeds for the calculation of diluted EPS for the quarter ended March 31, 2017; (iii) modified retrospective adoption of the minimum statutory withholdings requirements; (iv) modified retrospective adoption of the accounting policy election to account for forfeitures as they occur; and (v) prospective adoption of the classifications of certain cash flows associated with stock compensation. The adoption of these amendments did not, either individually or in aggregate, have a significant impact to the consolidated financial statements.

ASU No. 2017-01

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which introduces amendments that are intended to clarify the definition of a business to assist companies and other reporting organizations in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments are intended to narrow the current interpretation of a business.

ASU No. 2017-01 will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those periods. The amendments will be applied prospectively on or after the effective date. Early application of the amendments is allowed for transactions, including when a subsidiary or group of assets is deconsolidated/derecognized, in which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance.

The Company adopted the amendments effective January 1, 2017. The adoption of this ASU did not and is not expected to have a significant impact on the Company’s consolidated financial statements.

Pronouncements issued but not yet adopted:

ASU No. 2014-09

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which implements a common revenue standard and clarifies the principles used for recognizing revenue. The amendments in the ASU clarify that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

11

The amendments in ASU No. 2014-09 will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that annual reporting period. The amendments will be applied through the election of one of two retrospective methods.

The Company intends to adopt the amendments beginning January 1, 2018 through the modified-retrospective transition method. Based on the Company’s preliminary scoping, walkthroughs, and contract reviews, it does not expect to recognize a significant cumulative adjustment to equity upon implementation of the standard. Further, the Company does not expect a significant impact to the Company’s consolidated statements of comprehensive income or consolidated balance sheets from either a presentation or timing perspective, but is still analyzing some contracts (e.g., card interchange and rewards).  The Company does anticipate additional disclosures will be presented in the notes to the consolidated financial statements following adoption. 

ASU No. 2016-01

In January 2016, the FASB issued ASU No. 2016-01, Financial Statements - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments will not change the guidance for classifying and measuring investments in debt securities or loans; however, the ASU will impact how the Company measures certain equity investments and discloses and presents certain financial instruments through the application of the “exit price” notion.

ASU No. 2016-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. An entity will record a cumulative-effect adjustment to beginning retained earnings as of the beginning of the first reporting period in which the guidance is adopted, with two exceptions. The amendments related to equity investments without readily determinable fair values (including disclosure requirements) will be applied prospectively. The requirement to use the “exit price” notion to measure the fair value of financial instruments for disclosure purposes will also be applied prospectively.

The Company does not expect a significant cumulative-effect adjustment to be recorded at adoption or any significant impact to the consolidated financial statements associated with the accounting for its current equity investments. The Company does anticipate financial statement disclosures to be impacted, specifically related to financial instruments measured at amortized cost whose fair values are disclosed under the “entry price” notion, but is currently still in the process of determining the impact.

ASU No. 2016-02

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The most significant amendment to existing GAAP is the recognition of lease assets (i.e., right of use assets) and liabilities on the balance sheet for leases that are classified as operating leases by lessees. The lessor model remains similar to the current accounting model in existing GAAP. Additional amendments include, but are not limited to, the elimination of leveraged leases; modification to the definition of a lease; amendments on sale and leaseback transactions; and disclosure of additional quantitative and qualitative information.

ASU 2016-02 will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company anticipates adopting the amendments on January 1, 2019. The Company is currently assessing the practical expedients it may elect at adoption, but does not anticipate the amendments will have a significant impact to the consolidated financial statements. Based on the Company’s preliminary analysis of its current portfolio, the impact to the Company’s consolidated balance sheets is estimated to result in less than a 1% increase in assets and liabilities. The adjustment to retained earnings is not expected to be significant based on the transition guidance associated with current sale-leaseback agreements. The Company also anticipates additional disclosures to be provided at adoption.

ASU No. 2016-13

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments introduce an impairment model that is based on expected credit losses (“ECL”), rather than incurred losses, to estimate credit losses on certain types of financial instruments (e.g., loans and held-to-maturity securities), including certain off-balance sheet financial instruments (e.g., loan commitments). The ECL should consider historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments, over the contractual term. Financial instruments with similar risk characteristics may be grouped together when estimating the ECL.

The ASU also amends the current AFS security impairment model for debt securities. The new model will require an estimate of ECL when the fair value is below the amortized cost of the asset through the use of an allowance to record estimated credit losses (and subsequent recoveries). Non-credit related losses will continue to be recognized through OCI.

12

In addition, the amendments provide for a simplified accounting model for purchased financial assets with a more-than-insignificant amount of credit deterioration since their origination. The initial estimate of expected credit losses would be recognized through an ALL with an offset (i.e., increase) to the cost basis of the related financial asset at acquisition.

ASU 2016-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods. The amendments will be applied through a modified-retrospective approach, resulting in a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. A prospective transition approach is required for debt securities for which OTTI had been recognized before the effective date. Amounts previously recognized in AOCI as of the date of adoption that relate to improvements in cash flows expected to be collected should continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption should be recorded in earnings when received.

The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements.

ASU No. 2017-04

In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test.  Therefore, any carrying amount which exceeds the reporting unit’s fair value (up to the amount of goodwill recorded) will be recognized as an impairment loss.

ASU No. 2017-04 will be effective for annual reporting periods beginning after December 15, 2019, including interim reporting periods within those periods.  The amendments will be applied prospectively on or after the effective date.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.  Based on recent goodwill impairments tests, which did not require the application of Step 2, the Company does not expect the adoption of this ASU to have an immediate impact.

ASU No. 2017-08

In March 2017, the FASB issued ASU No. 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities, which will shorten the amortization period for callable debt securities held at a premium to the earliest call date instead of the maturity date. The amendments do not require an accounting change for securities held at a discount, which will continue to be amortized to the maturity date.

ASU No. 2017-08 will be effective for annual reporting periods beginning after December 15, 2018, including interim reporting periods within those periods. The amendments should be applied using a modified-retrospective transition method as of the beginning of the period of adoption. Early adoption is permitted, including adoption in an interim period. The adoption of the ASU will not have a significant impact to the Company based on its current investment portfolio.

13

NOTE 3 – INVESTMENT SECURITIES

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:

	March 31, 2017
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,430	$	199	$	(463	)	$	212,166
Obligations of state and political subdivisions	297,712		3,190		(3,812		)	297,090
Mortgage-backed securities	3,238,530		4,937		(37,505		)	3,205,962
Other securities	108,541		455		(261		)	108,735
Total securities available for sale	$	3,857,213	$	8,781	$	(42,041	)	$	3,823,953
Securities held to maturity:
Obligations of state and political subdivisions	$	62,315	$	1,682	$	(99	)	$	63,898
Mortgage-backed securities	23,703		55		(843		)	22,915
Total securities held to maturity	$	86,018	$	1,737	$	(942	)	$	86,813

	December 31, 2016
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,662	$	245	$	(549	)	$	212,358
Obligations of state and political subdivisions	286,458		1,948		(5,207		)	283,199
Mortgage-backed securities	2,888,180		4,820		(41,291		)	2,851,709
Other securities	98,974		361		(504		)	98,831
Total securities available for sale	$	3,486,274	$	7,374	$	(47,551	)	$	3,446,097
Securities held to maturity:
Obligations of state and political subdivisions	$	64,726	$	1,609	$	(133	)	$	66,202
Mortgage-backed securities	24,490		57		(817		)	23,730
Total securities held to maturity	$	89,216	$	1,666	$	(950	)	$	89,932

Securities with carrying values of $1.6 billion and $1.5 billion were pledged to secure public deposits and other borrowings at March 31, 2017 and December 31, 2016, respectively.

14

Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows:

	March 31, 2017
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(463	)	$	150,412	$	—		$	—	$	(463	)	$	150,412
Obligations of state and political subdivisions	(3,812		)	101,543		—			—		(3,812		)	101,543
Mortgage-backed securities	(35,221		)	2,349,545		(2,284		)	94,005		(37,505		)	2,443,550
Other Securities	(212		)	42,955		(49		)	3,614		(261		)	46,569
Total securities available for sale	$	(39,708	)	$	2,644,455	$	(2,333	)	$	97,619	$	(42,041	)	$	2,742,074
Securities held to maturity:
Obligations of state and political subdivisions	$	(99	)	$	4,986	$	—		$	—	$	(99	)	$	4,986
Mortgage-backed securities	(358		)	12,093		(485		)	10,366		(843		)	22,459
Total securities held to maturity	$	(457	)	$	17,079	$	(485	)	$	10,366	$	(942	)	$	27,445

	December 31, 2016
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(549	)	$	150,554	$	—		$	—	$	(549	)	$	150,554
Obligations of state and political subdivisions	(5,207		)	148,059		—			—		(5,207		)	148,059
Mortgage-backed securities	(38,667		)	2,191,563		(2,624		)	98,912		(41,291		)	2,290,475
Other Securities	(451		)	36,484		(53		)	3,850		(504		)	40,334
Total securities available for sale	$	(44,874	)	$	2,526,660	$	(2,677	)	$	102,762	$	(47,551	)	$	2,629,422
Securities held to maturity:
Obligations of state and political subdivisions	$	(133	)	$	10,602	$	—		$	—	$	(133	)	$	10,602
Mortgage-backed securities	(330		)	12,288		(487		)	10,960		(817		)	23,248
Total securities held to maturity	$	(463	)	$	22,890	$	(487	)	$	10,960	$	(950	)	$	33,850

The Company assessed the nature of the unrealized losses in its portfolio as of March 31, 2017 and December 31, 2016 to determine if there are losses that should be deemed other-than-temporary. In its analysis of these securities, management considered numerous factors to determine whether there were instances where the amortized cost basis of the debt securities would not be fully recoverable, including, but not limited to:

• The length of time and extent to which the estimated fair value of the securities was less than their amortized cost;

• Whether adverse conditions were present in the operations, geographic area, or industry of the issuer;

• The payment structure of the security, including scheduled interest and principal payments, including the issuer’s failures to make scheduled payments, if any, and the likelihood of failure to make scheduled payments in the future;

• Changes to the rating of the security by a rating agency; and

• Subsequent recoveries or additional declines in fair value after the balance sheet date.

15

Management believes it has considered these factors, as well as all relevant information available, when determining the expected future cash flows of the securities in question. In each instance, management has determined the cost basis of the securities would be fully recoverable. Management also has the intent to hold debt securities until their maturity or anticipated recovery if the security is classified as available for sale. In addition, management does not believe the Company will be required to sell debt securities before the anticipated recovery of the amortized cost basis of the security. As a result of the Company's analysis, no declines in the estimated fair value of the Company's investment securities were deemed to be other-than-temporary at March 31, 2017 or December 31, 2016.

At March 31, 2017, 393 debt securities had unrealized losses of 1.53% of the securities’ amortized cost basis. At December 31, 2016, 397 debt securities had unrealized losses of 1.79% of the securities’ amortized cost basis. The unrealized losses for each of the securities related to market interest rate changes and not credit concerns of the issuers. Additional information on securities that have been in a continuous loss position for over twelve months at March 31, 2017 and December 31, 2016 is presented in the following table.

(Dollars in thousands)	March 31, 2017		December 31, 2016
Number of securities:
Issued by U.S. Government-sponsored enterprises	28		28
Issued by political subdivisions	—		—
Other	3		3
	31		31
Amortized Cost Basis:
Issued by U.S. Government-sponsored enterprises	$	107,140	$	112,983
Issued by political subdivisions	—		—
Other	3,663		3,903
	$	110,803	$	116,886
Unrealized Loss:
Issued by U.S. Government-sponsored enterprises	$	2,769	$	3,111
Issued by political subdivisions	—		—
Other	49		53
	$	2,818	$	3,164

The Fannie Mae, Freddie Mac, and Ginnie Mae securities are rated AA+ by S&P and Aaa by Moodys.

The amortized cost and estimated fair value of investment securities by maturity at March 31, 2017 are presented in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Weighted average yields are calculated on the basis of the yield to maturity based on the amortized cost of each security.

	Securities Available for Sale						Securities Held to Maturity
(Dollars in thousands)	Weighted Average Yield		Amortized Cost		Estimated Fair Value		Weighted Average Yield		Amortized Cost		Estimated Fair Value
Within one year or less	1.74	%	$	27,692	$	27,625	2.87	%	$	1,896	$	1,907
One through five years	1.67		283,137		283,609		2.90		8,274		8,454
After five through ten years	2.32		789,829		786,876		3.08		22,252		22,852
Over ten years	2.26		2,756,555		2,725,843		2.83		53,596		53,600
	2.22	%	$	3,857,213	$	3,823,953	2.91	%	$	86,018	$	86,813

16

The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method.

	Three Months Ended March 31
(Dollars in thousands)	2017		2016
Realized gains	$	—	$	462
Realized losses	—		(266		)
	$	—	$	196

In addition to the gains above, the Company realized certain gains on calls of securities held to maturity that were not significant to the consolidated financial statements.

Other Equity Securities

The Company accounts for the following securities at amortized cost, which approximates fair value, in “other assets” on the consolidated balance sheets:

(Dollars in thousands)	March 31, 2017		December 31, 2016
Federal Home Loan Bank (FHLB) stock	$	37,415	$	42,326
Federal Reserve Bank (FRB) stock	48,584		48,584
Other investments	3,008		2,808
	$	89,007	$	93,718

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NOTE 4 – LOANS

Loans consist of the following, segregated into legacy and acquired loans, for the periods indicated:

	March 31, 2017
(Dollars in thousands)	Legacy Loans		Acquired Loans		Total
Commercial loans:
Real estate	$	5,878,509	$	1,099,365	$	6,977,874
Commercial and industrial	3,140,205		315,373		3,455,578
Energy-related	562,515		1,108		563,623
	9,581,229		1,415,846		10,997,075
Residential mortgage loans:	901,859		394,499		1,296,358
Consumer and other loans:
Home equity	1,797,123		349,673		2,146,796
Indirect automobile	110,174		26		110,200
Other	533,059		48,714		581,773
	2,440,356		398,413		2,838,769
Total	$	12,923,444	$	2,208,758	$	15,132,202

	December 31, 2016
(Dollars in thousands)	Legacy Loans		Acquired Loans		Total
Commercial loans:
Real estate	$	5,623,314	$	1,178,952	$	6,802,266
Commercial and industrial	3,194,796		348,326		3,543,122
Energy-related	559,289		1,904		561,193
	9,377,399		1,529,182		10,906,581
Residential mortgage loans:	854,216		413,184		1,267,400
Consumer and other loans:
Home equity	1,783,421		372,505		2,155,926
Indirect automobile	131,048		4		131,052
Other	548,840		55,172		604,012
	2,463,309		427,681		2,890,990
Total	$	12,694,924	$	2,370,047	$	15,064,971

Net deferred loan origination fees were $22.6 million at both March 31, 2017 and December 31, 2016. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans and reclassifies these overdrafts as loans in its consolidated balance sheets. At March 31, 2017 and December 31, 2016, overdrafts of $4.0 million and $4.2 million, respectively, have been reclassified to loans.

Loans with carrying values of $4.5 billion were pledged as collateral for borrowings at both March 31, 2017 and December 31, 2016.

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Aging Analysis

The following tables provide an analysis of the aging of loans as of March 31, 2017 and December 31, 2016. Due to the difference in accounting for acquired loans, the tables below further segregate the Company’s loans between loans originated, or renewed and underwritten by the Company ("legacy loans") and acquired loans.

	March 31, 2017
	Legacy loans
	Accruing
(Dollars in thousands)	Current or less than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Total Loans
Commercial real estate - Construction	$	880,721	$	187	$	1,431	$	—	$	1,618	$	—	$	882,339
Commercial real estate - Other	4,973,144		4,432		586		537		5,555		17,471		4,996,170
Commercial and industrial	3,102,314		6,399		224		373		6,996		30,895		3,140,205
Energy-related	447,128		—		—		2,175		2,175		113,212		562,515
Residential mortgage	884,571		2,692		1,628		—		4,320		12,968		901,859
Consumer - Home equity	1,779,409		7,868		1,945		—		9,813		7,901		1,797,123
Consumer - Indirect automobile	107,519		1,333		299		—		1,632		1,023		110,174
Consumer - Credit card	82,636		350		190		—		540		436		83,612
Consumer - Other	445,538		2,141		581		15		2,737		1,172		449,447
Total	$	12,702,980	$	25,402	$	6,884	$	3,100	$	35,386	$	185,078	$	12,923,444

	December 31, 2016
	Legacy loans
	Accruing
(Dollars in thousands)	Current or less than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Total Loans
Commercial real estate - Construction	$	740,761	$	—	$	—	$	—	$	—	$	—	$	740,761
Commercial real estate - Other	4,863,902		1,861		351		—		2,212		16,439		4,882,553
Commercial and industrial	3,158,700		3,999		870		—		4,869		31,227		3,194,796
Energy-related	407,434		—		1,526		—		1,526		150,329		559,289
Residential mortgage	836,509		2,012		1,577		1,104		4,693		13,014		854,216
Consumer - Home equity	1,768,763		5,249		1,430		—		6,679		7,979		1,783,421
Consumer - Indirect automobile	127,054		2,551		405		—		2,956		1,038		131,048
Consumer - Credit card	81,602		199		99		—		298		624		82,524
Consumer - Other	462,650		2,155		618		—		2,773		893		466,316
Total	$	12,447,375	$	18,026	$	6,876	$	1,104	$	26,006	$	221,543	$	12,694,924

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	March 31, 2017
	Acquired loans (1) (2)
	Accruing
(Dollars in thousands)	Current or Less Than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Discount/Premium			Acquired Impaired Loans		Total Loans
Commercial real estate - Construction	$	25,425	$	—	$	—	$	—	$	—	$	1,946	$	(202	)	$	34,787	$	61,956
Commercial real estate - Other	811,160		—		314		3,684		3,998		957		(3,258		)	224,552		1,037,409
Commercial and industrial	280,869		287		111		1,196		1,594		1,101		(745		)	32,554		315,373
Energy-related	956		—		157		—		157		—		(5		)	—		1,108
Residential mortgage	278,684		919		543		—		1,462		789		(1,729		)	115,293		394,499
Consumer - Home equity	266,706		1,078		222		—		1,300		1,367		(4,826		)	85,126		349,673
Consumer - Indirect automobile	19		—		—		—		—		—		—			7		26
Consumer - Credit Card	—		—		—		—		—		—		—			501		501
Consumer - Other	44,026		218		37		—		255		344		(931		)	4,519		48,213
Total	$	1,707,845	$	2,502	$	1,384	$	4,880	$	8,766	$	6,504	$	(11,696	)	$	497,339	$	2,208,758

	December 31, 2016
	Acquired loans (1) (2)
	Accruing
(Dollars in thousands)	Current or Less Than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Discount/Premium			Acquired Impaired Loans		Total Loans
Commercial real estate - Construction	$	26,714	$	—	$	—	$	—	$	—	$	1,946	$	(243	)	$	32,991	$	61,408
Commercial real estate - Other	871,492		716		55		32		803		1,221		(3,649		)	247,677		1,117,544
Commercial and industrial	314,990		73		51		—		124		1,317		(837		)	32,732		348,326
Energy-related	1,910		—		—		—		—		—		(6		)	—		1,904
Residential mortgage	290,031		328		989		—		1,317		719		(1,835		)	122,952		413,184
Consumer - Home equity	286,411		1,078		189		250		1,517		1,395		(5,237		)	88,419		372,505
Consumer - Indirect automobile	—		—		—		—		—		—		—			4		4
Consumer - Credit Card	468		—		—		—		—		—		—			—		468
Consumer - Other	49,449		391		97		—		488		360		(1,004		)	5,411		54,704
Total	$	1,841,465	$	2,586	$	1,381	$	282	$	4,249	$	6,958	$	(12,811	)	$	530,186	$	2,370,047

⁽¹⁾  Past due and non-accrual information presents acquired loans at the gross loan balance, prior to application of discounts.

⁽²⁾  Past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

20

Loans Acquired

The following is a summary of changes in the accretable difference for all loans accounted for under ASC 310-30 during the three months ended March 31:

(Dollars in thousands)	2017			2016
Balance at beginning of period	$	175,054		$	227,502
Transfers from non-accretable difference to accretable yield	2,071			2,106
Accretion	(14,596		)	(18,412		)
Changes in expected cash flows not affecting non-accretable differences (1)	1,060			8,688
Balance at end of period	$	163,589		$	219,884

⁽¹⁾  Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, modifications, changes in interest rates and changes in prepayment assumptions.

Troubled Debt Restructurings

Information about the Company’s troubled debt restructurings ("TDRs") at March 31, 2017 and 2016 is presented in the following tables. Modifications of loans that are accounted for within a pool under ASC Topic 310-30 are excluded as TDRs. Accordingly, such modifications do not result in the removal of those loans from the pool, even if the modification of those loans would otherwise be considered a TDR. As a result, all such acquired loans that would otherwise meet the criteria for classification as a TDR are excluded from the tables below.

TDRs totaling $13.2 million and $44.8 million occurred during the three months ended March 31, 2017 and March 31, 2016, respectively, through modification of the original loan terms.

The following table provides information on how the TDRs were modified during the three months ended March 31, 2017 and 2016:

(Dollars in thousands)	2017		2016
Extended maturities	$	7,199	$	3,061
Maturity and interest rate adjustment	3,224		253
Movement to or extension of interest-rate only payments	1,290		—
Forbearance	1,220		5,296
Other concession(s) (1)	232		36,172
Total	$	13,165	$	44,782

⁽¹⁾  Other concessions may include covenant waivers, forgiveness of principal or interest associated with a customer bankruptcy, or a combination of any of the above concessions.

Of the $13.2 million of TDRs occurring during the three months ended March 31, 2017, $11.8 million are on accrual status and $1.4 million are on non-accrual status. Of the $44.8 million of TDRs occurring during the three months ended March 31, 2016, $39.6 million were on accrual status and $5.2 million were on non-accrual status.

21

The following table presents the end of period balance for loans modified in a TDR during the three months ended March 31:

	2017					2016
(In thousands, except number of loans)	Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment		Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment
Commercial real estate	10	$	4,871	$	4,854	9	$	1,228	$	1,228
Commercial and industrial	15	435		427		14	4,927		4,737
Energy-related	—	—		—		9	33,925		33,925
Residential mortgage	4	259		241		15	3,295		3,219
Consumer - Home equity	37	6,622		6,607		22	1,372		1,316
Consumer - Indirect	13	184		174		—	—		—
Consumer - Other	22	867		862		25	442		357
Total	101	$	13,238	$	13,165	94	$	45,189	$	44,782

Information detailing TDRs that defaulted during the three months ended March 31, 2017 and 2016, and were modified in the previous twelve months (i.e., the twelve months prior to the default) is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter.

	March 31, 2017			March 31, 2016
(In thousands, except number of loans)	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Commercial real estate	16	$	13,583	9	$	1,228
Commercial and industrial	20	1,411		9	1,627
Energy-related	5	9,082		1	2,250
Residential mortgage	22	1,793		15	3,218
Consumer - Home Equity	31	1,337		10	595
Consumer - Indirect automobile	43	517		—	—
Consumer - Other	25	693		7	170
Total	162	$	28,416	51	$	9,088

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NOTE 5 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

Allowance for Credit Losses Activity

A summary of changes in the allowance for credit losses for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Legacy Loans			Acquired Loans			Total
Allowance for credit losses
Allowance for loan losses at beginning of period	$	105,569		$	39,150		$	144,719
Provision for (Reversal of) loan losses	6,566			(412		)	6,154
Transfer of balance to OREO and other	—			73			73
Loans charged-off	(7,202		)	(89		)	(7,291		)
Recoveries	880			355			1,235
Allowance for loan losses at end of period	$	105,813		$	39,077		$	144,890
Reserve for unfunded commitments at beginning of period	$	11,241		$	—		$	11,241
Provision for unfunded lending commitments	419			—			419
Reserve for unfunded commitments at end of period	$	11,660		$	—		$	11,660
Allowance for credit losses at end of period	$	117,473		$	39,077		$	156,550

	2016
	Legacy Loans			Acquired Loans			Total
Allowance for credit losses
Allowance for loan losses at beginning of period	$	93,808		$	44,570		$	138,378
Provision for (Reversal of) loan losses before benefit attributable to FDIC loss share agreements	15,908			(1,261		)	14,647
Adjustment attributable to FDIC loss share arrangements	—			258			258
Net provision for (Reversal of) loan losses	15,908			(1,003		)	14,905
Adjustment attributable to FDIC loss share arrangements	—			(258		)	(258		)
Transfer of balance to OREO and other	—			(2,459		)	(2,459		)
Loans charged-off	(5,389		)	(171		)	(5,560		)
Recoveries	1,247			304			1,551
Allowance for loan losses at end of period	$	105,574		$	40,983		$	146,557
Reserve for unfunded commitments at beginning of period	$	14,145		$	—		$	14,145
Provision for (Reversal of) unfunded lending commitments	(112		)	—			(112		)
Reserve for unfunded commitments at end of period	$	14,033		$	—		$	14,033
Allowance for credit losses at end of period	$	119,607		$	40,983		$	160,590

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A summary of changes in the allowance for credit losses for legacy loans, by loan portfolio type, for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	25,408		$	35,434		$	22,486		$	3,835		$	18,406		$	105,569
Provision for (Reversal of) loan losses	1,948			1,951			490			(623		)	2,800			6,566
Transfer of balance to OREO and other	—			—			—			—			—			—
Loans charged off	(95		)	(917		)	(2,845		)	(22		)	(3,323		)	(7,202		)
Recoveries	87			49			—			43			701			880
Allowance for loan losses at end of period	$	27,348		$	36,517		$	20,131		$	3,233		$	18,584		$	105,813
Reserve for unfunded commitments at beginning of period	$	3,206		$	3,535		$	1,003		$	657		$	2,840		$	11,241
Provision for (Reversal of) unfunded commitments	1,377			(83		)	(800		)	(49		)	(26		)	419
Reserve for unfunded commitments at end of period	$	4,583		$	3,452		$	203		$	608		$	2,814		$	11,660
Allowance on loans individually evaluated for impairment	$	1,222		$	13,860		$	10,446		$	98		$	1,679		$	27,305
Allowance on loans collectively evaluated for impairment	26,126			22,657			9,685			3,135			16,905			78,508
Loans, net of unearned income:
Balance at end of period	$	5,878,509		$	3,140,205		$	562,515		$	901,859		$	2,440,356		$	12,923,444
Balance at end of period individually evaluated for impairment	46,203			40,380			142,398			4,583			23,468			257,032
Balance at end of period collectively evaluated for impairment	5,832,306			3,099,825			420,117			897,276			2,416,888			12,666,412

24

	2016
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	24,658		$	23,283		$	23,863		$	3,947		$	18,057		$	93,808
Provision for (Reversal of) loan losses	1,297			(2,431		)	14,533			(115		)	2,624			15,908
Loans charged off	(1,738		)	(225		)	—			(14		)	(3,412		)	(5,389		)
Recoveries	487			30			—			18			712			1,247
Allowance for loan losses at end of period	$	24,704		$	20,657		$	38,396		$	3,836		$	17,981		$	105,574
Reserve for unfunded commitments at beginning of period	$	4,160		$	3,448		$	2,665		$	830		$	3,042		$	14,145
Provision for (Reversal of) unfunded commitments	(297		)	1,952			(1,766		)	(24		)	23			(112		)
Reserve for unfunded commitments at end of period	$	3,863		$	5,400		$	899		$	806		$	3,065		$	14,033
Allowance on loans individually evaluated for impairment	$	695		$	488		$	10,918		$	72		$	809		$	12,982
Allowance on loans collectively evaluated for impairment	24,009			20,169			27,478			3,764			17,172			92,592
Loans, net of unearned income:
Balance at end of period	$	4,771,690		$	2,926,686		$	728,778		$	730,621		$	2,370,922		$	11,528,697
Balance at end of period individually evaluated for impairment	26,608			23,302			79,417			2,724			5,909			137,960
Balance at end of period collectively evaluated for impairment	4,745,082			2,903,384			649,361			727,897			2,365,013			11,390,737

A summary of changes in the allowance for loan losses for acquired loans, by loan portfolio type, for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	23,574		$	3,230		$	39		$	7,412		$	4,895		$	39,150
Provision for (Reversal of) loan losses	(84		)	63			(26		)	(437		)	72			(412		)
Transfer of balance to OREO and other	377			(350		)	—			2			44			73
Loans charged off	—			—			—			—			(89		)	(89		)
Recoveries	109			35			—			—			211			355
Allowance for loan losses at end of period	$	23,976		$	2,978		$	13		$	6,977		$	5,133		$	39,077
Allowance on loans individually evaluated for impairment	$	694		$	750		$	—		$	15		$	45		$	1,504
Allowance on loans collectively evaluated for impairment	23,282			2,228			13			6,962			5,088			37,573
Loans, net of unearned income:
Balance at end of period	$	1,099,365		$	315,373		$	1,108		$	394,499		$	398,413		$	2,208,758
Balance at end of period individually evaluated for impairment	7,966			1,810			—			464			1,840			12,080
Balance at end of period collectively evaluated for impairment	832,060			281,009			1,108			278,742			306,420			1,699,339
Balance at end of period acquired with deteriorated credit quality	259,339			32,554			—			115,293			90,153			497,339

25

	2016
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	25,979		$	2,819		$	125		$	7,841		$	7,806		$	44,570
Provision for (Reversal of) loan losses	(598		)	194			(25		)	662			(1,236		)	(1,003		)
Increase (Decrease) in FDIC loss share receivable	2			(34		)	—			(35		)	(191		)	(258		)
Transfer of balance to OREO and other	(1,574		)	(343		)	—			(70		)	(472		)	(2,459		)
Loans charged off	—			(30		)	—			—			(141		)	(171		)
Recoveries	55			108			—			25			116			304
Allowance for loan losses at end of period	$	23,864		$	2,714		$	100		$	8,423		$	5,882		$	40,983
Allowance on loans individually evaluated for impairment	$	41		$	5		$	—		$	—		$	50		$	96
Allowance on loans collectively evaluated for impairment	23,823			2,709			100			8,423			5,832			40,887
Loans, net of unearned income:
Balance at end of period	$	1,458,938		$	447,696		$	2,884		$	477,770		$	535,259		$	2,922,547
Balance at end of period individually evaluated for impairment	911			1,582			34			—			4,718			7,245
Balance at end of period collectively evaluated for impairment	1,088,713			409,561			2,850			340,278			414,902			2,256,304
Balance at end of period acquired with deteriorated credit quality	369,314			36,553			—			137,492			115,639			658,998

Portfolio Segment Risk Factors

Commercial real estate loans include loans to commercial customers for long-term financing of land and buildings or for land development or construction of a building. These loans are repaid through revenues from operations of the businesses, rents of properties, sales of properties and refinances. Commercial and industrial loans represent loans to commercial customers to finance general working capital needs, equipment purchases and other projects where repayment is derived from cash flows resulting from business operations. The Company originates commercial business loans on a secured and, to a lesser extent, unsecured basis.

Residential mortgage loans consist of loans to consumers to finance a primary residence. The vast majority of the residential mortgage loan portfolio is comprised of non-conforming 1-4 family mortgage loans secured by properties located in the Company's market areas and originated under terms and documentation that permit their sale in a secondary market.

Consumer loans are offered by the Company in order to provide a full range of retail financial services to its customers and include home equity, credit card and other direct consumer installment loans. The Company originates substantially all of its consumer loans in its primary market areas. Loans in the consumer segment are sensitive to unemployment and other key consumer economic measures.

Credit Quality

The Company utilizes an asset risk classification system in accordance with guidelines established by the Federal Reserve Board as part of its efforts to monitor commercial asset quality. “Special mention” loans are defined as loans where known information about possible credit problems of the borrower cause management to have some doubt as to the ability of these borrowers to comply with the present loan repayment terms which may result in future disclosure of these loans as non-performing. For problem assets with identified credit issues, the Company has two primary classifications: “substandard” and “doubtful.”

Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full satisfaction of the loan balance outstanding questionable, which makes probability of loss higher based on currently existing facts, conditions, and values. Loans classified as “Pass” do not meet the criteria set forth for special mention, substandard, or doubtful classification and are not considered criticized. Asset risk classifications are determined at origination or acquisition and reviewed on an ongoing basis. Risk classifications are changed if, in the opinion of management, the risk profile of the customer has changed since the last review of the loan relationship.

The Company’s investment in loans by credit quality indicator is presented in the following tables. The tables below further segregate the Company’s loans between loans that were originated, or renewed and underwritten by the Company (legacy loans) and

26

acquired loans. Loan premiums/discounts in the tables below represent the adjustment of acquired loans to fair value at the acquisition date, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. Asset risk classifications for commercial loans reflect the classification as of March 31, 2017 and December 31, 2016. Credit quality information in the tables below includes total loans acquired (including acquired impaired loans) at the gross loan balance, prior to the application of premiums/discounts, at March 31, 2017 and December 31, 2016.

Loan delinquency is the primary credit quality indicator that the Company utilizes to monitor consumer asset quality.

	Legacy loans
	March 31, 2017										December 31, 2016
(Dollars in thousands)	Pass		Special Mention		Sub- standard		Doubtful		Total		Pass		Special Mention		Sub- standard		Doubtful		Total
Commercial real estate - Construction	$	876,872	$	1,119	$	4,348	$	—	$	882,339	$	734,687	$	2,203	$	3,871	$	—	$	740,761
Commercial real estate - Other	4,882,222		52,083		61,865		—		4,996,170		4,801,494		26,159		54,900		—		4,882,553
Commercial and industrial	3,064,306		31,615		27,014		17,270		3,140,205		3,112,300		29,763		35,199		17,534		3,194,796
Energy-related	314,975		65,469		153,186		28,885		562,515		242,123		80,084		225,724		11,358		559,289
Total	$	9,138,375	$	150,286	$	246,413	$	46,155	$	9,581,229	$	8,890,604	$	138,209	$	319,694	$	28,892	$	9,377,399

	Legacy loans
	March 31, 2017						December 31, 2016
(Dollars in thousands)	Current		30+ Days Past Due		Total		Current		30+ Days Past Due		Total
Residential mortgage	$	884,571	$	17,288	$	901,859	$	836,509	$	17,707	$	854,216
Consumer - Home equity	1,779,409		17,714		1,797,123		1,768,763		14,658		1,783,421
Consumer - Indirect automobile	107,519		2,655		110,174		127,054		3,994		131,048
Consumer - Credit card	82,636		976		83,612		81,602		922		82,524
Consumer - Other	445,538		3,909		449,447		462,650		3,666		466,316
Total	$	3,299,673	$	42,542	$	3,342,215	$	3,276,578	$	40,947	$	3,317,525

	Acquired loans
	March 31, 2017													December 31, 2016
(Dollars in thousands)	Pass		Special Mention		Sub-standard		Doubtful		Premium/(Discount)			Total		Pass		Special Mention		Sub-standard		Doubtful		Loss		Premium/(Discount)			Total
Commercial real estate - Construction	$	45,192	$	472	$	2,717	$	2,574	$	11,001		$	61,956	$	46,498	$	459	$	3,118	$	2,574	$	—	$	8,759		$	61,408
Commercial real estate - Other	1,014,057		15,408		46,451		1,475		(39,982		)	1,037,409		1,090,063		19,284		49,136		1,457		23		(42,419		)	1,117,544
Commercial and industrial	293,402		5,407		18,030		403		(1,869		)	315,373		323,154		1,416		27,749		494		—		(4,487		)	348,326
Energy-related	1,113		—		—		—		(5		)	1,108		1,910		—		—		—		—		(6		)	1,904
Total	$	1,353,764	$	21,287	$	67,198	$	4,452	$	(30,855	)	$	1,415,846	$	1,461,625	$	21,159	$	80,003	$	4,525	$	23	$	(38,153	)	$	1,529,182

	Acquired loans
	March 31, 2017									December 31, 2016
(Dollars in thousands)	Current		30+ Days Past Due		Premium (Discount)			Total		Current		30+ Days Past Due		Premium (Discount)			Total
Residential mortgage	$	404,276	$	19,268	$	(29,045	)	$	394,499	$	424,300	$	20,914	$	(32,030	)	$	413,184
Consumer - Home equity	352,836		12,971		(16,134		)	349,673		377,021		12,807		(17,323		)	372,505
Consumer - Indirect automobile	26		—		—			26		12		—		(8		)	4
Consumer - Other	52,572		937		(4,795		)	48,714		58,141		1,423		(4,392		)	55,172
Total	$	809,710	$	33,176	$	(49,974	)	$	792,912	$	859,474	$	35,144	$	(53,753	)	$	840,865

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Legacy Impaired Loans

Information on the Company’s investment in legacy impaired loans, which include all TDRs and all other non-accrual loans evaluated or measured individually for impairment for purposes of determining the allowance for loan losses, is presented in the following tables as of and for the periods indicated.

	March 31, 2017							December 31, 2016
	Unpaid Principal Balance		Recorded Investment		Related Allowance			Unpaid Principal Balance		Recorded Investment		Related Allowance
(Dollars in thousands)
With no related allowance recorded:
Commercial real estate	$	24,203	$	24,203	$	—		$	17,299	$	16,507	$	—
Commercial and industrial	10,176		10,176		—			14,202		13,189		—
Energy-related	93,289		93,289		—			152,424		143,239		—
Residential mortgage	519		519		—			—		—		—
Consumer - Home equity	3,480		3,480		—			—		—		—
Consumer -Other	—		—		—			—		—		—
With an allowance recorded:
Commercial real estate	22,000		22,000		(1,222		)	17,688		17,524		(641		)
Commercial and industrial	30,204		30,204		(13,860		)	28,829		28,329		(10,864		)
Energy-related	49,109		49,109		(10,446		)	53,967		53,088		(9,769		)
Residential mortgage	4,392		4,064		(98		)	4,627		4,312		(144		)
Consumer - Home equity	16,605		16,229		(1,263		)	13,906		13,257		(993		)
Consumer - Indirect automobile	724		724		(139		)	1,037		758		(114		)
Consumer - Other	3,124		3,035		(277		)	2,447		2,442		(251		)
Total	$	257,825	$	257,032	$	(27,305	)	$	306,426	$	292,645	$	(22,776	)
Total commercial loans	$	228,981	$	228,981	$	(25,528	)	$	284,409	$	271,876	$	(21,274	)
Total mortgage loans	4,911		4,583		(98		)	4,627		4,312		(144		)
Total consumer loans	23,933		23,468		(1,679		)	17,390		16,457		(1,358		)

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	Three Months Ended March 31, 2017				Three Months Ended March 31, 2016
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
(Dollars in thousands)
With no related allowance recorded:
Commercial real estate	$	24,370	$	315	$	16,167	$	38
Commercial and industrial	10,408		92		27,540		286
Energy-related	96,664		365		53,920		513
Residential mortgage	519		4		1,289		16
Consumer - Home equity	3,480		34		—		—
With an allowance recorded:
Commercial real estate	22,076		115		10,710		83
Commercial and industrial	30,779		209		3,166		46
Energy-related	49,887		2		21,289		224
Residential mortgage	4,080		41		1,462		8
Consumer - Home equity	15,746		170		5,188		51
Consumer - Indirect automobile	766		7		190		1
Consumer - Other	3,078		49		391		7
Total	$	261,853	$	1,403	$	141,312	$	1,273
Total commercial loans	$	234,184	$	1,098	$	132,792	$	1,190
Total mortgage loans	4,599		45		2,751		24
Total consumer loans	23,070		260		5,769		59

As of March 31, 2017 and December 31, 2016, the Company was not committed to lend a material amount of additional funds to any customer whose loan was classified as impaired or as a troubled debt restructuring.

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NOTE 6 – GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS

Goodwill

Changes to the carrying amount of goodwill by reporting unit for the three months ended March 31, 2017, and the year ended December 31, 2016 are provided in the following table.

(Dollars in thousands)	IBERIABANK		IMC		LTC		Total
Balance, December 31, 2015	$	696,260	$	23,178	$	5,165	$	724,603
Goodwill adjustments during the year	2,253		—		—		2,253
Balance, December 31, 2016	$	698,513	$	23,178	$	5,165	$	726,856
Goodwill adjustments during the year	—		—		—		—
Balance, March 31, 2017	$	698,513	$	23,178	$	5,165	$	726,856

The goodwill adjustments during 2016 were the result of the finalization of fair value estimates related to the 2015 acquisitions of Florida Bank Group, Old Florida, and Georgia Commerce during the respective measurement periods.

The Company performed the required annual goodwill impairment test as of October 1, 2016. The Company’s annual impairment test did not indicate impairment in any of the Company’s reporting units as of the testing date. Following the testing date, management evaluated the events and changes that could indicate that goodwill might be impaired and concluded that a subsequent interim test was not necessary.

Mortgage Servicing Rights

Mortgage servicing rights are recorded at the lower of cost or market value in “other assets” on the Company's consolidated balance sheets and amortized over the remaining servicing life of the loans, with consideration given to prepayment assumptions. Mortgage servicing rights had the following carrying values as of the periods indicated:

	March 31, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
(Dollars in thousands)
Mortgage servicing rights	$	7,695	$	(3,346	)	$	4,349	$	7,202	$	(3,144	)	$	4,058

In addition, there was an insignificant amount of non-mortgage servicing rights related to SBA loans as of March 31, 2017 and December 31, 2017, respectively.

Title Plant

The Company held title plant assets recorded in “other assets” on the Company's consolidated balance sheets totaling $6.7 million at both March 31, 2017 and December 31, 2016. No events or changes in circumstances occurred during the three months ended March 31, 2017 to suggest the carrying value of the title plant was not recoverable.

Intangible assets subject to amortization

Definite-lived intangible assets had the following carrying values included in “other assets” on the Company’s consolidated balance sheets as of the periods indicated:

	March 31, 2017							December 31, 2016
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Core deposit intangibles	$	74,001	$	(53,887	)	$	20,114	$	74,001	$	(52,165	)	$	21,836
Customer relationship intangible asset	1,273		(1,036		)	237		1,348		(1,064		)	284
Non-compete agreement	63		(27		)	36		63		(22		)	41
Total	$	75,337	$	(54,950	)	$	20,387	$	75,412	$	(53,251	)	$	22,161

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NOTE 7 – DERIVATIVE INSTRUMENTS AND OTHER HEDGING ACTIVITIES

The Company enters into derivative financial instruments to manage interest rate risk, exposures related to liquidity and credit risk, and to facilitate customer transactions. The primary types of derivatives used by the Company include interest rate swap agreements, foreign exchange contracts, interest rate lock commitments, forward sales commitments, written and purchased options and credit derivatives. All derivative instruments are recognized on the consolidated balance sheets as "other assets" or "other liabilities" at fair value, as required by ASC Topic 815, Derivatives and Hedging.

For cash flow hedges, the effective portion of the gain or loss related to the derivative instrument is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings or when the hedge is terminated. The ineffective portion of the gain or loss is reported in earnings immediately. In applying hedge accounting for derivatives, the Company establishes and documents a method for assessing the effectiveness of the hedging derivative and a measurement approach for determining the ineffective aspect of the hedge upon the inception of the hedge. The Company has designated interest rate swaps in a cash flow hedge to convert forecasted variable interest payments to a fixed rate on its junior subordinated debt and has concluded that the forecasted transactions are probable of occurring.

For derivative instruments that are not designated as hedging instruments, changes in the fair value of the derivatives are recognized in earnings immediately.

Information pertaining to outstanding derivative instruments is as follows:

	Balance Sheet Location	Asset Derivatives Fair Value				Balance Sheet Location	Liability Derivatives Fair Value
(Dollars in thousands)		March 31, 2017		December 31, 2016			March 31, 2017		December 31, 2016
Derivatives designated as hedging instruments under ASC Topic 815:
Interest rate contracts	Other assets	$	—	$	—	Other liabilities	$	—	$	525
Total derivatives designated as hedging instruments under ASC Topic 815		$	—	$	—		$	—	$	525
Derivatives not designated as hedging instruments under ASC Topic 815:
Interest rate contracts	Other assets	$	20,982	$	20,719	Other liabilities	$	17,454	$	20,719
Foreign exchange contracts	Other assets	2		27		Other liabilities	2		26
Forward sales contracts	Other assets	145		6,014		Other liabilities	1,209		794
Written and purchased options	Other assets	13,043		12,125		Other liabilities	8,361		8,098
Other contracts	Other assets	—		1		Other liabilities	42		47
Total derivatives not designated as hedging instruments under ASC Topic 815		$	34,172	$	38,886		$	27,068	$	29,684
Total		$	34,172	$	38,886		$	27,068	$	30,209

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	Asset Derivatives  Notional Amount				Liability Derivatives  Notional Amount
(Dollars in thousands)	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Derivatives designated as hedging instruments under ASC Topic 815:
Interest rate contracts	$	—	$	—	$	108,500	$	108,500
Total derivatives designated as hedging instruments under ASC Topic 815	$	—	$	—	$	108,500	$	108,500
Derivatives not designated as hedging instruments under ASC Topic 815:
Interest rate contracts	$	1,065,894	$	1,033,955	$	1,065,894	$	1,033,955
Foreign exchange contracts	1,277		4,474		1,277		4,474
Forward sales contracts	32,438		229,181		270,612		120,567
Written and purchased options	348,417		289,115		172,782		154,170
Other contracts	8,708		8,784		110,485		106,518
Total derivatives not designated as hedging instruments under ASC Topic 815	$	1,456,734	$	1,565,509	$	1,621,050	$	1,419,684
Total	$	1,456,734	$	1,565,509	$	1,729,550	$	1,528,184

The Company has entered into risk participation agreements with counterparties to transfer or assume credit exposures related to interest rate derivatives. The notional amounts of risk participation agreements sold were $110.5 million and $106.5 million at March 31, 2017 and December 31, 2016, respectively. Assuming all underlying third party customers referenced in the swap contracts defaulted at March 31, 2017 and December 31, 2016, the exposure from these agreements would not be material based on the fair value of the underlying swaps.

The Company is party to collateral agreements with certain derivative counterparties. Such agreements require that the Company maintain collateral based on the fair values of individual derivative transactions. In the event of default by the Company, the counterparty would be entitled to the collateral.

At December 31, 2016, the Company was required to post $1.9 million in cash or securities as collateral for its derivative transactions, which is included in "interest-bearing deposits in banks" on the Company’s consolidated balance sheets. Effective January 3, 2017, the Chicago Mercantile Exchange and LCH.Clearnet Limited amended their rulebooks to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements of the derivatives' exposure rather than collateral against the exposures. As of March 31, 2017, the Company was required to post $3.9 million in variation margin payments for its derivative transactions, of which virtually all is now required to be netted against the fair value of the derivatives in "other assets/other liabilities" on the consolidated balance sheet. The Company does not anticipate additional assets will be required to be posted as collateral, nor does it believe additional assets would be required to settle its derivative instruments immediately if contingent features were triggered at March 31, 2017. The Company’s master netting agreements represent written, legally enforceable bilateral agreements that (1) create a single legal obligation for all individual transactions covered by the master agreement and (2) in the event of default, provide the non-defaulting counterparty the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to promptly liquidate or set-off collateral posted by the defaulting counterparty. As permitted by U.S. GAAP, the Company does not offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against recognized fair value amounts of derivatives executed with the same counterparty under a master netting agreement.

32

The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset.

	March 31, 2017
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral  (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,982	$	(11,303	)	$	—		$	9,679
Written and purchased options	8,260		—			—			8,260
Total derivative assets subject to master netting arrangements	$	29,242	$	(11,303	)	$	—		$	17,939
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	—	$	—		$	—		$	—
Interest rate contracts not designated as hedging instruments	17,454		(11,303		)	(23		)	6,128
Total derivative liabilities subject to master netting arrangements	$	17,454	$	(11,303	)	$	(23	)	$	6,128

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.} 

	December 31, 2016
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,719	$	(9,677	)	$	—		$	11,042
Written and purchased options	8,085		—			—			8,085
Total derivative assets subject to master netting arrangements	$	28,804	$	(9,677	)	$	—		$	19,127
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	525	$	—		$	(181	)	$	344
Interest rate contracts not designated as hedging instruments	20,719		(9,677		)	(1,711		)	9,331
Total derivative liabilities subject to master netting arrangements	$	21,244	$	(9,677	)	$	(1,892	)	$	9,675

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.} 

During the three months ended March 31, 2017 and 2016, the Company has not reclassified into earnings any gain or loss as a result of the discontinuance of cash flow hedges, because it was probable the original forecasted transaction would not occur by the end of the originally specified term.

At March 31, 2017, the Company does not expect to reclassify a material amount from accumulated other comprehensive income into interest income over the next twelve months for derivatives that will be settled.

33

At March 31, 2017 and 2016, and for the three months then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows:

													Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
			Amount of Gain (Loss) Recognized in OCI net of taxes (Effective Portion)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income net of taxes (Effective Portion)
(Dollars in thousands)
			For the Three Months Ended March 31
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships		2017		2016				2017			2016			2017		2016
	Interest rate contracts	$	163	$	(4,127	)	Other income (expense)	$	(45	)	$	—	Other income (expense)	$	—	$	—
Total		$	163	$	(4,127	)		$	(45	)	$	—		$	—	$	—

Information pertaining to the effect of derivatives not designated as hedging instruments on the consolidated financial statements as of March 31, is as follows:

	Location of Gain (Loss) Recognized in  Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
		For the Three Months Ended March 31
(Dollars in thousands)		2017			2016
Interest rate contracts (1)	Other income	$	1,117		$	2,962
Foreign exchange contracts	Other income	7			1
Forward sales contracts	Mortgage income	(360		)	(5,343		)
Written and purchased options	Mortgage income	655			3,982
Other contracts	Other income	4			—
Total		$	1,423		$	1,602

^{(1) Includes fees associated with customer interest rate contracts.} 

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NOTE 8 – SHAREHOLDERS' EQUITY, CAPITAL RATIOS AND OTHER REGULATORY MATTERS

Preferred Stock

The following table presents a summary of the Company's non-cumulative perpetual preferred stock:

							March 31, 2017		December 31, 2016
	Issuance Date	Earliest Redemption Date	Annual Dividend Rate		Liquidation Amount		Carrying Amount		Carrying Amount
					(Dollars in thousands)
Series B Preferred Stock	8/5/2015	8/1/2025	6.625	%	$	80,000	$	76,812	$	76,812
Series C Preferred Stock	5/9/2016	5/1/2026	6.600	%	57,500		55,285		55,285
					$	137,500	$	132,097	$	132,097

Common Stock

During the second quarter of 2016, the Company's Board of Directors authorized the repurchase of up to 950,000 shares of IBERIABANK Corporation's outstanding common stock. Stock repurchases under this program will be made from time to time, on the open market or in privately negotiated transactions. The timing of these repurchases will depend on market conditions and other requirements. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time. At March 31, 2017, the remaining common shares that could be repurchased under the plan approved by the Board was 747,494 shares. The Company did not repurchase any common shares during the first quarter of 2017.

On March 7, 2017, the Company issued an additional 6,100,000 shares of its common stock at a price of $83.00 per common share. Net proceeds from the offering, after deduction of underwriting discounts, commissions, and direct issuance costs, were $485.2 million.

Regulatory Capital

The Company and IBERIABANK are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy regulations and the regulatory framework for prompt corrective action, the Company and IBERIABANK, as applicable, must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Management believes that, as of March 31, 2017, the Company and IBERIABANK met all capital adequacy requirements to which they are subject.

As of March 31, 2017, the most recent notification from the FRB categorized IBERIABANK as well-capitalized under the regulatory framework for prompt corrective action (the prompt corrective action requirements are not applicable to the Company). To be categorized as well-capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed that categorization.

35

The Company’s and IBERIABANK’s actual capital amounts and ratios as of March 31, 2017 and December 31, 2016 are presented in the following table.

(Dollars in thousands)	March 31, 2017
	Minimum				Well-Capitalized		Actual
	Amount		Ratio		Amount	Ratio	Amount		Ratio
Tier 1 Leverage
Consolidated	$	845,887	4.00	%	N/A	N/A	$	2,730,832	12.91	%
IBERIABANK	843,399		4.00		1,054,249	5.00	1,925,529		9.13
Common Equity Tier 1 (CET1) (1)
Consolidated	$	798,791	4.50	%	N/A	N/A	$	2,598,735	14.64	%
IBERIABANK	796,259		4.50		1,150,153	6.50	1,925,529		10.88
Tier 1 Risk-Based Capital (1)
Consolidated	$	1,065,054	6.00	%	N/A	N/A	$	2,730,832	15.38	%
IBERIABANK	1,061,679		6.00		1,415,572	8.00	1,925,529		10.88
Total Risk-Based Capital (1)
Consolidated	$	1,420,073	8.00	%	N/A	N/A	$	3,003,882	16.92	%
IBERIABANK	1,415,572		8.00		1,769,465	10.00	2,082,079		11.77

	December 31, 2016
	Minimum				Well-Capitalized		Actual
	Amount		Ratio		Amount	Ratio	Amount		Ratio
Tier 1 Leverage
Consolidated	$	818,440	4.00	%	N/A	N/A	$	2,221,528	10.86	%
IBERIABANK	816,152		4.00		1,020,190	5.00	1,878,703		9.21
Common Equity Tier 1 (CET1) (1)
Consolidated	$	794,334	4.50	%	N/A	N/A	$	2,089,431	11.84	%
IBERIABANK	792,111		4.50		1,144,160	6.50	1,878,703		10.67
Tier 1 Risk-Based Capital (1)
Consolidated	$	1,059,112	6.00	%	N/A	N/A	$	2,221,528	12.59	%
IBERIABANK	1,056,147		6.00		1,408,197	8.00	1,878,703		10.67
Total Risk-Based Capital (1)
Consolidated	$	1,412,149	8.00	%	N/A	N/A	$	2,493,988	14.13	%
IBERIABANK	1,408,197		8.00		1,760,246	10.00	2,034,663		11.56

⁽¹⁾ Minimum capital ratios are subject to a capital conservation buffer. In order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers, an institution must hold a capital conservation buffer above its minimum risk-based capital requirements. This capital conservation buffer is calculated as the lowest of the differences between the actual CET1 ratio, Tier 1 Risk-Based Capital Ratio, and Total Risk-Based Capital ratio and the corresponding minimum ratios. At March 31, 2017, the required minimum capital conservation buffer was 1.250%, and will increase in subsequent years by 0.625% until it is fully phased in on January 1, 2019 at 2.50%. At March 31, 2017, the capital conservation buffers of the Company and IBERIABANK were 8.92% and 3.77%, respectively.

36

NOTE 9 – EARNINGS PER SHARE

Share-based payment awards that entitle holders to receive non-forfeitable dividends before vesting are considered participating securities that are included in the calculation of earnings per share using the two-class method. The two-class method is an earnings allocation formula under which earnings per share is calculated for common stock and participating securities according to dividends declared and participating rights in undistributed earnings. Under this method, all earnings, distributed and undistributed, are allocated to common shares and participating securities based on their respective rights to receive dividends.

The following table presents the calculation of basic and diluted earnings per share for the periods indicated.

	Three Months Ended March 31,
(In thousands, except per share data)	2017			2016
Earnings per common share - basic:
Net income	$	50,473		$	42,769
Preferred stock dividends	(3,599		)	(2,576		)
Dividends and undistributed earnings allocated to unvested restricted shares	(346		)	(460		)
Net income allocated to common shareholders - basic	$	46,528		$	39,733
Weighted average common shares outstanding	46,123			40,711
Earnings per common share - basic	1.01			0.98
Earnings per common share - diluted:
Net income allocated to common shareholders - basic	$	46,528		$	39,733
Dividends and undistributed earnings allocated to unvested restricted shares	(37		)	(2		)
Net income allocated to common shareholders - diluted	$	46,491		$	39,731
Weighted average common shares outstanding	46,123			40,711
Dilutive potential common shares	373			54
Weighted average common shares outstanding - diluted	46,496			40,765
Earnings per common share - diluted	$	1.00		$	0.97

For the three months ended March 31, 2017, and 2016, the calculations for basic shares outstanding exclude the weighted average shares owned by the Recognition and Retention Plan (“RRP”) of 406,896 and 475,423, respectively.

The effects from the assumed exercises of 70,456 and 751,387 stock options were not included in the computation of diluted earnings per share for the three months ended March 31, 2017 and 2016, respectively, because such amounts would have had an antidilutive effect on earnings per common share.

37

NOTE 10 – SHARE-BASED COMPENSATION

The Company has various types of share-based compensation plans that permit the granting of awards in the form of stock options, restricted stock, restricted share units, phantom stock, and performance units. These plans are administered by the Compensation Committee of the Board of Directors, which selects persons eligible to receive awards and determines the terms, conditions and other provisions of the awards. At March 31, 2017, awards of 2,106,167 shares could be made under approved incentive compensation plans. The Company issues shares to fulfill stock option exercises and restricted share units and restricted stock awards vesting from available authorized common shares. At March 31, 2017, the Company believes there are adequate authorized shares to satisfy anticipated stock option exercises and restricted share unit and restricted stock award vesting.

Stock option awards

The Company issues stock options under various plans to directors, officers and other key employees. The option exercise price cannot be less than the fair value of the underlying common stock as of the date of the option grant and the maximum option term cannot exceed ten years.

The following table represents the activity related to stock options during the periods indicated:

	Number of Shares		Weighted Average Exercise Price
Outstanding options, December 31, 2016	721,538		$	55.38
Granted	70,433		85.52
Exercised	(24,457	)	53.85
Forfeited or expired	(12,539	)	75.77
Outstanding options, March 31, 2017	754,975		$	57.90
Exercisable options, March 31, 2017	509,347		$	55.78
Outstanding options, December 31, 2015	813,777		$	56.99
Granted	148,684		47.35
Exercised	(466	)	36.48
Forfeited or expired	(43,612	)	61.26
Outstanding options, March 31, 2016	918,383		$	55.24
Exercisable options, March 31, 2016	606,046		$	56.32

The Company uses the Black-Scholes option pricing model to estimate the fair value of stock option awards. The following weighted-average assumptions were used for option awards issued during the following periods:

	For the Three Months Ended March 31
	2017			2016
Expected dividends	1.7		%	2.9		%
Expected volatility	24.9		%	29.1		%
Risk-free interest rate	2.1		%	1.4		%
Expected term (in years)	5.6			6.4
Weighted-average grant-date fair value	$	18.75		$	10.05

The assumptions above are based on multiple factors, including historical stock option exercise patterns and post-vesting employment termination behaviors, expected future exercise patterns and the expected volatility of the Company’s stock price.

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The following table represents the compensation expense that is included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options for the following periods:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to stock options	$	444	$	484
Income tax benefit related to stock options	68		81

At March 31, 2017, there was $2.8 million of unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 3 years.

Restricted stock awards

The Company issues restricted stock under various plans for certain officers and directors. The restricted stock awards may not be sold or otherwise transferred until certain restrictions have lapsed. The holders of the restricted stock receive dividends and have the right to vote the shares. The compensation expense for these awards is determined based on the market price of the Company's common stock at the date of grant applied to the total number of shares granted and is recognized over the vesting period (generally three to seven years). As of March 31, 2017 and 2016, unrecognized share-based compensation associated with these awards totaled $21.4 million and $23.4 million, respectively. The unrecognized compensation cost related to restricted stock awards at March 31, 2017 is expected to be recognized over a weighted-average period of 1.7 years.

Restricted share units

During the first three months of 2017 and 2016, the Company issued restricted share units to certain of its executive officers. Restricted share units vest after the end of a three year performance period, based on satisfaction of the performance conditions set forth in the restricted share unit agreement. Recipients do not possess voting or investment power over the common stock underlying such units until vesting. The grant date fair value of these restricted share units is the same as the value of the corresponding number of shares of common stock, adjusted for assumptions surrounding the market-based conditions contained in the respective agreements.

The following table represents the compensation expense that was included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to restricted stock awards and restricted share units for the periods indicated:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to restricted stock awards and restricted share units	$	3,277	$	3,386
Income tax benefit related to restricted stock awards and restricted share units	1,147		1,185

The following table represents unvested restricted stock award and restricted share unit activity for the following periods:

	For the Three Months Ended March 31
	2017		2016
Balance at beginning of period	543,258		507,130
Granted	146,175		226,176
Forfeited	(4,105	)	(3,573	)
Earned and issued	(157,753	)	(136,126	)
Balance at end of period	527,575		593,607

Phantom stock awards

The Company issues phantom stock awards to certain key officers and employees. The awards are subject to a vesting period of five years and are paid out in cash upon vesting. The amount paid per vesting period is calculated as the number of vested “share equivalents” multiplied by the closing market price of a share of the Company’s common stock on the vesting date. Share equivalents are calculated on the date of grant as the total award’s dollar value divided by the closing market price of a share of the Company’s common stock on the grant date. Award recipients are also entitled to a “dividend equivalent” on each unvested share equivalent held by the award recipient. A dividend equivalent is a dollar amount equal to the cash dividends that the participant would have been entitled to receive if the participant’s share equivalents were issued in shares of common stock.

39

Dividend equivalents are reinvested as share equivalents that will vest and be paid out on the same date as the underlying share equivalents on which the dividend equivalents were paid. The number of share equivalents acquired with a dividend equivalent is determined by dividing the aggregate of dividend equivalents paid on the unvested share equivalents by the closing price of a share of the Company’s common stock on the dividend payment date.

Performance units

Performance units are tied to the value of shares of the Company's common stock, are payable in cash, and vest in increments of one-third per year after attainment of one or more performance measures. The value of performance units is the same as the value of the corresponding number of shares of common stock. There were no performance units granted in 2017 or 2016.

The following table indicates compensation expense recorded for phantom stock and performance units based on the number of share equivalents vested at March 31 of the years indicated and the current market price of the Company’s stock at that time:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to phantom stock and performance units	$	3,053	$	2,405

The following table represents phantom stock award and performance unit activity during the periods indicated.

(Dollars in thousands)	Number of share equivalents (1)		Value of share equivalents (2)
Balance, December 31, 2016	472,830		$	39,600
Granted	96,897		7,665
Forfeited share equivalents	(5,330	)	422
Vested share equivalents	(143,643	)	13,715
Balance, March 31, 2017	420,754		$	33,282
Balance, December 31, 2015	462,430		$	25,466
Granted	185,798		9,526
Forfeited share equivalents	(9,022	)	463
Vested share equivalents	(138,752	)	6,939
Balance, March 31, 2016	500,454		$	25,658

⁽¹⁾  Number of share equivalents includes all reinvested dividend equivalents for the periods indicated.

⁽²⁾  Except for share equivalents at the beginning of each period, which are based on the value at that time, and vested share payments, which are based on the cash paid at the time of vesting, the value of share equivalents is calculated based on the market price of the Company’s stock at the end of the respective periods. The market price of the Company’s stock was $79.10 and $51.27 on March 31, 2017, and 2016, respectively.

40

NOTE 11 – FAIR VALUE MEASUREMENTS

Recurring fair value measurements

The Company has segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to estimate the fair value at the measurement date in the tables below. See Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016, for a description of how fair value measurements are determined.

	March 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	3,823,953	$	—	$	3,823,953
Mortgage loans held for sale	—		122,333		—		122,333
Derivative instruments	—		34,172		—		34,172
Total	$	—	$	3,980,458	$	—	$	3,980,458
Liabilities
Derivative instruments	$	—	$	27,068	$	—	$	27,068
Total	$	—	$	27,068	$	—	$	27,068
	December 31, 2016
	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	3,446,097	$	—	$	3,446,097
Mortgage loans held for sale	—		157,041		—		157,041
Derivative instruments	—		38,886		—		38,886
Total	$	—	$	3,642,024	$	—	$	3,642,024
Liabilities
Derivative instruments	$	—	$	30,209	$	—	$	30,209
Total	$	—	$	30,209	$	—	$	30,209

During the three months ended March 31, 2017, there were no transfers between the Level 1 and Level 2 fair value categories.

Non-recurring fair value measurements

The Company has segregated all assets and liabilities that are measured at fair value on a non-recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below.

	March 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	87,425	$	87,425
OREO, net	—		—		2,122		2,122
Total	$	—	$	—	$	89,547	$	89,547
	December 31, 2016
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	93,485	$	93,485
OREO, net	—		—		185		185
Total	$	—	$	—	$	93,670	$	93,670

41

In accordance with the provisions of ASC Topic 310, the Company records certain loans considered impaired at their estimated fair value. A loan is considered impaired if it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Fair value is measured at the estimated fair value of the collateral for collateral-dependent loans. Impaired loans with an unpaid principal balance of $120.1 million and $125.5 million were recorded at their fair value at March 31, 2017 and December 31, 2016, respectively. These loans are net of reserves and charge-offs of $32.7 million and $32.0 million included in the Company's allowance for credit losses at March 31, 2017 and December 31, 2016, respectively.

The Company did not record any liabilities at fair value for which measurement of the fair value was made on a non-recurring basis at March 31, 2017 and December 31, 2016.

Fair value option

The Company has elected the fair value option for certain originated residential mortgage loans held for sale, which allows for a more effective offset of the changes in fair values of the loans and the derivative instruments used to hedge them without the burden of complying with the requirements for hedge accounting. The Company has $14.0 million and $12.7 million of mortgage loans held for investment for which the fair value option was elected upon origination and continue to be accounted for at fair value at March 31, 2017 and December 31, 2016, respectively.

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value:

	March 31, 2017						December 31, 2016
(Dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal		Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal
Mortgage loans held for sale, at fair value	$	122,333	$	118,875	$	3,458	$	157,041	$	153,801	$	3,240

Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of comprehensive income. Net gains (losses) resulting from the change in fair value of these loans that were recorded in mortgage income in the consolidated statements of comprehensive income totaled $0.4 million and $1.9 million for the three months ended March 31, 2017 and 2016, respectively. The changes in fair value are mostly offset by economic hedging activities, with an insignificant portion of these changes attributable to changes in instrument-specific credit risk.

42

NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS

The estimated fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. ASC Topic 825, Financial Instruments, excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Consequently, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company.

The carrying amount and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are included in the tables below. See Note 1, Summary of Significant Accounting Policies, in the 2016 Annual Report on Form 10-K for the year ended December 31, 2016 for a description of how fair value measurements are determined.

	March 31, 2017
(Dollars in thousands)	Carrying  Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	1,301,118	$	1,301,118	$	1,301,118	$	—	$	—
Investment securities	3,909,971		3,910,766		—		3,910,766		—
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,109,645		15,196,179		—		122,333		15,073,846
Derivative instruments	34,172		34,172		—		34,172		—
Financial Liabilities
Deposits	$	17,312,265	$	16,663,693	$	—	$	—	$	16,663,693
Short-term borrowings	448,696		448,696		368,696		80,000		—
Long-term debt	628,085		617,254		—		—		617,254
Derivative instruments	27,068		27,068		—		27,068		—
	December 31, 2016
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	1,362,126	$	1,362,126	$	1,362,126	$	—	$	—
Investment securities	3,535,313		3,536,029		—		3,536,029		—
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,077,293		15,066,055		—		157,041		14,909,014
Derivative instruments	38,886		38,886		—		38,886		—
Financial Liabilities
Deposits	$	17,408,283	$	16,762,475	$	—	$	—	$	16,762,475
Short-term borrowings	509,136		509,136		334,136		175,000		—
Long-term debt	628,953		617,656		—		—		617,656
Derivative instruments	30,209		30,209		—		30,209		—

The fair value estimates presented herein are based upon pertinent information available to management as of March 31, 2017 and December 31, 2016. 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.

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NOTE 13 – BUSINESS SEGMENTS

Each of the Company’s reportable operating segments 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 primarily reflect the manner in which resources are allocated and performance is assessed. Further, the reportable operating segments are also determined based on the quantitative thresholds prescribed within ASC Topic 280, Segment Reporting, and consideration of the usefulness of the information to the users of the consolidated financial statements.

The Company reports the results of its operations through three reportable 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. 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 methods that reflect utilization. Also within IBERIABANK are certain reconciling items that 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, 2017
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest and dividend income	$	190,823		$	1,709		$	1		$	192,533
Interest expense	19,715			—			—			19,715
Net interest income	171,108			1,709			1			172,818
Provision for/ reversal of loan losses	6,158			(4		)	—			6,154
Mortgage income	—			14,115			—			14,115
Service charges on deposit accounts	11,153			—			—			11,153
Title revenue	—			—			4,741			4,741
Other non-interest income	17,353			(10		)	(6		)	17,337
Allocated expenses	(2,174		)	1,656			518			—
Non-interest expense	121,651			15,167			4,200			141,018
Income/(loss) before income tax expense	73,979			(1,005		)	18			72,992
Income tax expense/(benefit)	22,829			(322		)	12			22,519
Net income/(loss)	$	51,150		$	(683	)	$	6		$	50,473
Total loans and loans held for sale, net of unearned income	$	15,072,661		$	181,874		$	—		$	15,254,535
Total assets	21,774,586			209,911			23,982			22,008,479
Total deposits	17,306,328			5,937			—			17,312,265
Average assets	21,550,930			286,694			23,877			21,861,501

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	Three Months Ended March 31, 2016
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest and dividend income	$	175,324		$	1,611		$	1		$	176,936
Interest expense	14,654			879			—			15,533
Net interest income	160,670			732			1			161,403
Provision for loan losses	14,905			—			—			14,905
Mortgage income	—			19,940			—			19,940
Service charges on deposit accounts	10,951			—			—			10,951
Title revenue	—			—			4,745			4,745
Other non-interest income	20,210			(1		)	—			20,209
Allocated expenses	(2,669		)	2,050			619			—
Non-interest expense	120,027			13,198			4,227			137,452
Income/(loss) before income tax expense	59,568			5,423			(100		)	64,891
Income tax expense/(benefit)	20,001			2,153			(32		)	22,122
Net income/(loss)	$	39,567		$	3,270		$	(68	)	$	42,769
Total loans and loans held for sale, net of unearned income	$	14,428,613		$	215,176		$	—		$	14,643,789
Total assets	19,774,092			291,893			26,578			20,092,563
Total deposits	16,256,147			4,419			—			16,260,566
Average assets	19,381,718			252,281			27,312			19,661,311

45

NOTE 14 – COMMITMENTS AND CONTINGENCIES

Off-balance sheet commitments

In the normal course of business, to meet the financing needs of its customers, the Company is a party to credit related financial instruments, with risk not reflected in the consolidated financial statements. These financial instruments include commitments to extend credit, standby letters of credit, and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The credit policies used for these commitments are consistent with those used for on-balance sheet instruments. The Company’s exposure to credit loss in the event of non-performance by its customers under such commitments or letters of credit represents the contractual amount of the financial instruments as indicated in the table below. At March 31, 2017 and December 31, 2016, the fair value of guarantees under commercial and standby letters of credit was $1.7 million and $1.6 million, respectively. This fair value will decrease as the existing commercial and standby letters of credit approach their expiration dates.

At March 31, 2017 and December 31, 2016, respectively, the Company had the following financial instruments outstanding and related reserves, whose contract amounts represent credit risk:

(Dollars in thousands)	March 31, 2017		December 31, 2016
Commitments to grant loans	$	419,847	$	355,558
Unfunded commitments under lines of credit	4,912,092		4,899,930
Commercial and standby letters of credit	165,784		163,560
Reserve for unfunded lending commitments	11,660		11,241

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to be drawn upon, the total commitment amounts generally represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral, if any, is based on management’s credit evaluation of the customer.

Unfunded commitments under commercial lines of credit, revolving credit lines, and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. Many of these types of commitments do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. See Note 5 for additional information related to the Company’s unfunded lending commitments.

Commercial and standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper issuance, bond financing, and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. When necessary they are collateralized, generally in the form of marketable securities and cash equivalents.

Legal proceedings

The nature of the business of the Company’s banking and other subsidiaries ordinarily results in a certain amount of claims, litigation, investigations, and legal and administrative cases and proceedings, which are considered incidental to the normal conduct of business. Some of these claims are against entities or assets of which the Company is a successor or acquired in business acquisitions. The Company has asserted defenses to these litigations and, with respect to such legal proceedings, intends to continue to defend itself vigorously, litigating or settling cases according to management’s judgment as to what is in the best interest of the Company and its shareholders.

In July of 2016, a subsidiary of IBERIABANK received a subpoena from the Office of Inspector General of the U.S. Department of Housing and Urban Development (“HUD”) requesting information on certain previously originated loans insured by the Federal Housing Administration ("FHA") as well as other documents regarding the subsidiary's FHA-related policies and practices. In April of 2017, the Company learned that it, along with certain of its subsidiaries, have been sued in federal court involving the subject matter of the HUD subpoena. However, the Company and its subsidiaries have not been formally served with process and the complaint remains under seal. The Company is in preliminary discussions with HUD and the Department of Justice about this civil matter. The Company has provided a volume of information under the subpoena, and is currently in discussions with HUD regarding the information provided. The Company continues to cooperate with HUD with respect to the subpoena. The Company has concluded that a loss is reasonably possible and could be material; however, in light of the early stages of this matter, an estimate of loss or range thereof cannot be reasonably determined as of the date of this filing.

46

The Company assesses its liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that the Company will incur a loss and the amount of the loss can be reasonably estimated, the Company records a liability in its consolidated financial statements. These legal reserves may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of loss is not estimable, the Company does not accrue legal reserves. While the outcome of legal proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, the Company’s management believes that it has established appropriate legal reserves. Any liabilities arising from pending legal proceedings are not expected to have a material adverse effect on the Company’s consolidated financial position, consolidated results of operations, or consolidated cash flows other than disclosed above. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the Company’s consolidated financial position, consolidated results of operations, or consolidated cash flows.

As of the date of this filing, the Company believes the amount of losses associated with legal proceedings that it is reasonably possible to incur above amounts already accrued is not material, other than the HUD matter discussed above.

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NOTE 15 – RELATED PARTY TRANSACTIONS

In the ordinary course of business, the Company may execute transactions with various related parties. These transactions are consummated at terms equivalent to the prevailing market rates and terms at the time. Examples of such transactions may include lending or deposit arrangements, transfers of financial assets, services for administrative support, and other miscellaneous items.

The Company has granted loans to executive officers and directors and their affiliates. These loans, including the related principal additions, principal payments, and unfunded commitments are not material to the consolidated financial statements at March 31, 2017 and December 31, 2016. None of the related party loans were classified as non-accrual, past due, troubled debt restructurings, or potential problem loans at March 31, 2017 and December 31, 2016, with the exception of the loan discussed below.

IBERIABANK and several other financial institutions previously extended credit (the “Credit Facility”) under a multi-bank syndicated credit facility to Stone Energy Corporation (the “Borrower"). At March 31, 2017 and December 31, 2016, one of the Company’s directors, David H. Welch, was the Chairman, President and Chief Executive Officer of the Borrower. IBERIABANK held approximately 6 percent of the total commitments from twelve banks under the Credit Facility. On December 14, 2016, the Borrower filed for Chapter 11 Bankruptcy with the U.S. Bankruptcy Court in the Southern District of Texas.  At the time of the filing, $341.5 million was outstanding under the Credit Facility, with approximately $20.3 million outstanding and due to IBERIABANK. At December 31, 2016, the outstanding amount due IBERIABANK under the Credit Facility was on non-accrual status.  On February 15, 2017, Borrower’s Second Amended Joint Prepackaged Plan of Reorganization (the “Plan”) was confirmed by the U.S. Bankruptcy Court.  Pursuant to the Plan, banks under the Credit Facility were allowed a claim in the aggregate principal amount of $341.5 million, which was the principal amount outstanding under the Credit Facility at the time of the bankruptcy filing. The confirmed plan proposed a full recovery to the banks under the Credit Facility of their prepetition claims, including IBERIABANK's prepetition claim of approximately $20.3 million. The Plan further provided that banks under the Credit Facility were to receive, on account of their prepetition claims, (i) their respective pro-rata share of commitments and obligations owing with respect to outstanding loans under a new 4-year Reserve Based Lending Facility (the “Exit Facility”), and (ii) their respective pro rata share of prepetition cash as a partial repayment of such outstanding loans subject to re-borrowing to the extent permitted and pursuant to the terms of the Exit Facility held by such banks. On February 28, 2017, the Plan became effective and the Borrower satisfied the entire amount due and owing to the financial institutions on their claim of $341.5 million, including payment to IBERIABANK of approximately $20.3 million. On that same date, having emerged from the Chapter 11 bankruptcy, the Borrower entered into the new Exit Facility with the lenders, including IBERIABANK. The new Exit Facility, which replaces the Credit Facility, provides for a $200 million reserve-based credit facility with a maturity date of February 21, 2021. Interest on advances under the Exit Facility is calculated using the London Interbank Offering Rate ("LIBOR") or the base rate, at the election of the Borrower, plus, in each case an applicable margin. The applicable margin is determined based on borrower base utilization and ranges from 2.00% to 3.00% per annum for base rate loans and 3.00% to 4.00% per annum for LIBOR loans. IBERIABANK holds a 6 percent pro-rata share, or $12 million, of the $200 million total committed under the new facility. At March 31, 2017, there are no draws or outstanding amounts under the Exit Facility. Effective April 28, 2017, David H. Welch retired from Stone Energy.

Deposits from related parties held by the Company were not material at March 31, 2017 and December 31, 2016.

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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis is intended to assist readers in understanding the consolidated financial condition and results of operations of IBERIABANK Corporation and its wholly owned subsidiaries (collectively, the “Company”) as of and for the period ended March 31, 2017, and updates the Annual Report on Form 10-K for the year ended December 31, 2016. This discussion should be read in conjunction with the unaudited consolidated financial statements, accompanying footnotes and supplemental financial data included herein. The emphasis of this discussion will be amounts as of March 31, 2017 compared to December 31, 2016 for the balance sheets and the three months ended March 31, 2017 compared to March 31, 2016 for the statements of comprehensive income. Certain amounts in prior year presentations have been reclassified to conform to the current year presentation.

When we refer to the “Company,” “we,” “our” or “us” in this Report, we mean IBERIABANK Corporation and subsidiaries (consolidated). When we refer to the “Parent,” we mean IBERIABANK Corporation. See the Glossary of Acronyms at the end of this Report for terms used throughout this Report.

To the extent that statements in this Report relate to future plans, objectives, financial results or performance of the Company, these statements are deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which are based on management’s current information, estimates and assumptions and the current economic environment, are generally identified by use of the words “may,” “plan,” “believe,” “expect,” “intend,” “will,” “should,” “continue,” “potential,” “anticipate,” “estimate,” “predict,” “project” or similar expressions, or the negative of these terms or other comparable terminology. The Company’s actual strategies and results in future periods may differ materially from those currently expected due to various risks and uncertainties.

Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance.  Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.  Factors that could cause or contribute to such differences include, but are not limited to: the level of market volatility, our ability to execute our growth strategy, including the availability of future bank acquisition opportunities, our ability to execute on our revenue and efficiency improvement initiatives, unanticipated losses related to the completion and integration of mergers and acquisitions, refinements to purchase accounting adjustments for acquired businesses and assets and assumed liabilities in these transactions, adjustments of fair values of acquired assets and assumed liabilities and of deferred taxes in acquisitions, actual results deviating from the Company’s current estimates and assumptions of timing and amounts of cash flows, credit risk of our customers, effects of low energy and commodity prices, effects of residential real estate prices and levels of home sales, our ability to satisfy capital and liquidity standards such as those imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act and those adopted by the Basel Committee on Banking Supervision and federal banking regulators, sufficiency of our allowance for loan losses, changes in interest rates, access to funding sources, reliance on the services of executive management, competition for loans, deposits and investment dollars, competition from competitors with greater financial resources than the Company, reputational risk and social factors, changes in government regulations and legislation, increases in FDIC insurance assessments, geographic concentration of our markets, economic or business conditions in our markets or nationally, rapid changes in the financial services industry, significant litigation, cyber-security risks including dependence on our operational, technological, and organizational systems and infrastructure and those of third party providers of those services, hurricanes and other adverse weather events, and valuation of intangible assets. Factors that may cause actual results to differ materially from these forward-looking statements are discussed in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (the “SEC”), available at the SEC’s website, www.sec.gov, and the Company’s website, www.iberiabank.com, under the heading “Investor Relations” and then "Financial Information." All information in this discussion is as of the date of this Report. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

49

EXECUTIVE SUMMARY

Corporate Profile

The Company is a $22.0 billion bank holding company primarily concentrated in commercial banking in the southeastern United States. The Company has been fulfilling the commercial and retail banking needs of our customers for 130 years through our subsidiary, IBERIABANK, with products and services currently offered in eight states. The Company operates mortgage production offices in 10 states through IMC, which was merged into IBERIABANK effective January 1, 2017, and offers a full line of title insurance and closing services throughout Arkansas and Louisiana through LTC and its subsidiaries. ICP provides equity research, institutional sales and trading, and corporate finance services throughout the energy industry. 1887 Leasing, LLC owns an aircraft used by management of the Company. IAM provides wealth management and trust advisory services for commercial and private banking clients. CDE is engaged in the acquisition and allocation of tax credits.

Summary of 2017 First Quarter Results of Operations

Net income available to common shareholders for the three months ended March 31, 2017 totaled $46.9 million, or $1.00 per diluted share, compared to $40.2 million, or $0.97 per diluted share, for the same period of 2016. The primary drivers of the net $6.7 million increase included an $11.4 millionincrease in net interest income and an $8.8 million decrease in provision expense, offset by an $8.5 milliondecrease in non-interest income, a $3.6 millionincrease in non-interest expense, and a $1.0 millionincrease in preferred dividends.

Net interest income was $172.8 million for the first quarter of 2017, an $11.4 million, or 7%, increase compared to the same quarter of 2016, driven by a $2.2 billion, or 12%, increase in average earning assets, offset by a ten basis point decrease in earning asset yield, a $988.6 million, or 8%, increase in average interest-bearing liabilities and a nine basis point increase in overall funding costs. Net interest margin on a tax-equivalent basis decreasedfifteen basis points to 3.53% from 3.68% when comparing the periods, largely due to excess liquidity, as well as excess capital currently invested in lower yielding cash and securities.

Non-interest income decreased$8.5 million, or 15%, to $47.3 million at March 31, 2017, primarily the result of a $5.8 milliondecrease in mortgage income and a $1.1 milliondecrease in broker commissions. Other non-interest income also decreased$2.4 million primarily due to a $1.9 million decrease in client derivatives income and lower gains on sales of SBA loans.

Non-interest expense for the first quarter of 2017 increased$3.6 million, or 3%, compared to the same quarter of 2016, primarily driven by a $1.1 millionincrease in salaries and employee benefits, a $1.0 millionincrease in data processing, a $1.6 millionincrease in professional services, and a $1.9 millionincrease in credit and other loan related expenses. These increases were partially offset by a $2.6 million FDIC loss share reimbursement expense that was incurred during the first quarter of 2016.

The Company recorded a provision for loan losses of $6.2 million during the quarter ended March 31, 2017, $8.8 million lower than the provision recorded during the quarter ended March 31, 2016. The decrease in the provision was primarily due to a $14.0 million decrease in the provision for energy-related loans, offset by a $5.4 million increase in the non-energy commercial loan provision during these periods. The provision for energy-related loans decreased as certain energy-related classified assets cycled through resolution. Classified energy loans decreased 37% to $182.1 million at March 31, 2017, compared to $287.4 million at March 31, 2016. Conversely, non-energy-related classified commercial loans increased 12% to $182.1 million at March 31, 2017. The provision covered net charge-offs by 102% during the quarter ended March 31, 2017.

Summary of Financial Condition at March 31, 2017

Total assets for the quarter ended March 31, 2017 were $22.0 billion, up $349.3 million, or 2%, from December 31, 2016. A $377.9 millionincrease in available for sale securities drove the increase in total assets. During March 2017, the Company issued an additional 6.1 million shares of common stock, resulting in net proceeds of $485.2 million. The proceeds are currently invested in cash, but are expected to be used to fund a portion of the pending acquisition of Sabadell United Bank, N.A.

Total loans net of unearned income at March 31, 2017 were $15.1 billion, an increase of $67.2 million, or 0.4%, from December 31, 2016. While slower loan growth during the first quarter of each year is a consistent seasonal trend, the Company grew legacy loans by $228.5 million, or 2%, during the first quarter of 2017, offset by a $161.3 million, or 7%, decrease in acquired loans.

From an asset quality perspective, total non-performing assets decreased $31.5 million, or 13%, compared to December 31, 2016. The Company's total allowance for loan losses increased $0.2 million, or 0.1%, to $144.9 million at March 31, 2017, and represented 0.96% of total loans at both March 31, 2017 and December 31, 2016.

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Total deposits decreased$96.0 million, less than 1%, to $17.3 billion at March 31, 2017. Non-interest-bearing deposits increased$102.7 million, or 2%, and comprised 29% of total deposits at March 31, 2017, compared to 28% at December 31, 2016. Interest-bearing deposits decreased$198.7 million, or 2%, from December 31, 2016 to March 31, 2017.

Shareholders’ equity increased$518.3 million, or 18%, from year-end 2016. The increase was primarily driven by the issuance of 6.1 million shares of common stock during the first quarter of 2017, resulting in net proceeds of $485.2 million.

2017 Outlook

The Company's long-term financial goals are as follows:

• Return on Average Tangible Common Equity of 13% to 17% (core basis);

• Core Tangible Efficiency Ratio of less than 60%; and

• Legacy Asset Quality in the top 10% of our peers.

Our strong liquidity and capital positions will be both our greatest opportunity and challenge in 2017 as our margin performance will be dependent on our ability to deploy that excess liquidity and capital into higher yielding assets. In addition, continued improvement in credit quality will be instrumental to a successful 2017.

Management's expectations for the Company in 2017 include the following:

• Consolidated loan growth in the high-single digit range, including growth from our recent expansion into the South Carolina market;

• Easing of the risk-off trade, reducing barriers to loan growth;

• Deposit growth in the mid-single digit range;

• Improvement in net interest margin as excess liquidity is deployed into higher yielding assets (timing of the reduction in excess liquidity is the most important factor on the overall margin level for the year);

• Improvement in consolidated credit metrics;

• Decline in provision expense from 2016 as credit conditions within the energy portfolio continue to improve;

• Slight increase in non-interest income from 2016 as declines in the mortgage business are offset by other non-interest income categories;

• Continued cost containment efforts on non-interest expense to reach our goal of a sustained core tangible efficiency ratio below 60%;

• Effective tax rate of approximately 33.5%;

• EPS will continue to be pressured until excess liquidity and capital are deployed into higher yielding assets (i.e., currently excess liquidity and capital are earning the Fed Funds rate); and

• Realization of the full benefit from our modeled asset sensitive position if interest rates continue to move higher. The recent 25 basis point increase in the Fed Funds rate during the first quarter of 2017 should result in 5 cents of favorable quarterly EPS impact in the second quarter of 2017.

On February 28, 2017, the Company announced the signing of a definitive agreement under which the Company will acquire Sabadell United Bank, N.A., which we refer to as "Sabadell," from Banco de Sabadell, S.A., which we refer to as "Banco Sabadell," in a stock and cash transaction valued at $1.025 billion. The proposed acquisition (the "Sabadell Acquisition") of Sabadell by the Company has been approved by the Board of Directors of both the Company and Banco Sabadell, and is expected to close in the second half of 2017. Upon completion of the acquisition, Sabadell will be merged with and into IBERIABANK. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals.

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FINANCIAL OVERVIEW

The following table sets forth selected financial ratios and other relevant data used by management to analyze the Company's performance.

TABLE 1—SELECTED CONSOLIDATED FINANCIAL AND OTHER DATA

	As of and For the Three Months Ended March 31
	2017		2016
Key Ratios (1)
Return on average assets	0.94	%	0.87	%
Core return on average assets (Non-GAAP)	0.96		0.90
Return on average common equity	6.41		6.59
Core return on average tangible common equity (Non-GAAP) (2)	8.99		10.26
Equity to assets at end of period	15.71		12.68
Earning assets to interest-bearing liabilities at end of period	152.09		142.02
Interest rate spread (3)	3.34		3.53
Net interest margin (TE) (3) (4)	3.53		3.68
Non-interest expense to average assets (annualized)	2.62		2.81
Efficiency ratio (5)	64.1		63.3
Core tangible efficiency ratio (TE) (Non-GAAP) (2) (4) (5)	61.6		60.3
Common stock dividend payout ratio	39.0		34.9
Asset Quality Data (Legacy)
Non-performing assets to total assets at end of period (6)	0.99	%	0.65	%
Allowance for credit losses to non-performing loans at end of period (6)	62.43		127.85
Allowance for credit losses to total loans at end of period	0.91		1.04
Consolidated Capital Ratios
Tier 1 leverage capital ratio	12.91	%	9.41	%
Common Equity Tier 1 (CET1)	14.64		10.11
Tier 1 risk-based capital ratio	15.38		10.56
Total risk-based capital ratio	16.92		12.21

⁽¹⁾  With the exception of end-of-period ratios, all ratios are based on average daily balances during the respective periods.

⁽²⁾  Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

⁽³⁾  Interest rate spread represents the difference between the weighted average yield on earning assets and the weighted average cost of interest-bearing liabilities. Net interest margin represents net interest income as a percentage of average net earning assets.

⁽⁴⁾  Fully taxable equivalent ("TE") calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.

⁽⁵⁾  The efficiency ratio represents non-interest expense as a percentage of total revenues. Total revenues are the sum of net interest income and non-interest income.

⁽⁶⁾  Non-performing loans consist of non-accruing loans and loans 90 days or more past due. Non-performing assets consist of non-performing loans and repossessed assets.

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ANALYSIS OF RESULTS OF OPERATIONS

Net Interest Income/Net Interest margin

Net interest income is the difference between interest realized on earning assets and interest paid on interest-bearing liabilities and is also the largest driver of core earnings. As such, it is subject to constant scrutiny by management. The rate of return and relative risk associated with earning assets are weighed to determine the appropriateness and mix of earning assets. Additionally, the need for lower cost funding sources is weighed against relationships with clients and future growth opportunities. The Company’s net interest spread, which is the difference between the yields earned on average earning assets and the rates paid on average interest-bearing liabilities, was 3.34% and 3.53%, during the three months ended March 31, 2017 and 2016, respectively. The Company’s net interest margin on a taxable equivalent (“TE”) basis, which is net interest income (TE) as a percentage of average earning assets, was 3.53% and 3.68%, respectively, for the same periods.

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The following table sets forth information regarding (i) the total dollar amount of interest income from earning assets and the resultant average yields; (ii) the total dollar amount of interest expense on interest-bearing liabilities and the resultant average rates; (iii) net interest income; (iv) net interest spread; and (v) net interest margin. Information is based on average daily balances during the indicated periods. Investment security market value adjustments and trade-date accounting adjustments are not considered to be earning assets and, as such, the net effect of these adjustments is included in non-earning assets.

TABLE 2—AVERAGE BALANCES, NET INTEREST INCOME AND INTEREST YIELDS / RATES

	Three Months Ended March 31
	2017							2016
(Dollars in thousands)	Average Balance			Interest Income/Expense (2)		Yield/ Rate (TE)		Average Balance			Interest Income/Expense (2)			Yield/ Rate (TE)
Earning Assets:
Loans(1):
Commercial loans	$	10,917,714		$	119,605	4.50	%	$	10,250,555		$	113,417		4.51	%
Residential mortgage loans	1,273,069			12,848		4.04	%	1,202,692			13,429			4.47	%
Consumer and other loans	2,854,972			36,524		5.19	%	2,901,163			37,145			5.15	%
Total loans	15,045,755			168,977		4.59	%	14,354,410			163,991			4.63	%
Loans held for sale	175,512			971		2.21	%	160,873			1,401			3.48	%
Investment securities	3,741,128			19,927		2.24	%	2,866,974			15,212			2.24	%
FDIC loss share receivable	—			—		—	%	37,360			(4,386		)	(47.22	)%
Other earning assets	1,123,087			2,658		0.96	%	453,737			718			0.64	%
Total earning assets	20,085,482			192,533		3.93	%	17,873,354			176,936			4.03	%
Allowance for loan losses	(145,326		)					(141,393		)
Non-earning assets	1,921,345							1,929,350
Total assets	$	21,861,501						$	19,661,311
Interest-bearing liabilities
Deposits:
NOW accounts	$	3,239,085		3,090		0.39	%	$	2,859,940		1,940			0.27	%
Savings and money market accounts	7,211,545			8,329		0.47	%	6,598,838			5,640			0.34	%
Certificates of deposit	2,083,749			4,638		0.90	%	2,098,032			4,354			0.83	%
Total interest-bearing deposits	12,534,379			16,057		0.52	%	11,556,810			11,934			0.42	%
Short-term borrowings	410,726			277		0.27	%	494,670			485			0.39	%
Long-term debt	618,494			3,381		2.22	%	523,503			3,114			2.39	%
Total interest-bearing liabilities	13,563,599			19,715		0.59	%	12,574,983			15,533			0.50	%
Non-interest-bearing demand deposits	4,976,945							4,388,259
Non-interest-bearing liabilities	221,993							167,810
Total liabilities	18,762,537							17,131,052
Shareholders’ equity	3,098,964							2,530,259
Total liabilities and shareholders’ equity	$	21,861,501						$	19,661,311
Net earning assets	$	6,521,883						$	5,298,371
Net interest income/ Net interest spread				$	172,818	3.34	%				$	161,403		3.53	%
Net interest income (TE) / Net interest margin (TE) (3)				$	175,309	3.53	%				$	163,728		3.68	%

⁽¹⁾  Total loans include non-accrual loans for all periods presented.

⁽²⁾  Interest income includes loan fees of $0.7 million for the three-month periods ended March 31, 2017 and 2016.

⁽³⁾  Taxable equivalent yields are calculated using a rate of 35%, which approximates the marginal tax rate.

Net interest income increased $11.4 million, or 7%, to $172.8 million in the first three months of 2017 when compared to 2016. The increase in net interest income for the first quarter of 2017 is the result of a $2.2 billion increase in average earning assets and the elimination of the negative yield related to the amortization of FDIC loss share receivables in prior periods. The

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Company terminated all FDIC loss share agreements in December of 2016. These increases were partially offset by a ten basis point decrease in average yield on earning assets, a $988.6 millionincrease in average interest-bearing liabilities, and a nine basis point increase in overall funding costs when compared to the same period of 2016. Net interest margin on a tax-equivalent basis decreasedfifteen basis points to 3.53% from 3.68% when comparing the periods, largely due to excess liquidity, as well as excess capital, currently invested in lower yielding cash and securities.

Average loans made up 75% and 80% of average earning assets in the first quarters of 2017 and 2016, respectively. Average loans increased$691.3 million, or 5%, when comparing the first quarter of 2017 to 2016 as a result of the growth in the commercial legacy loan portfolio. Investment securities made up 19% of average earning assets in the first three months of 2017, compared to 16% in the same period of 2016.

Average interest-bearing deposits made up 92% of average interest-bearing liabilities during the first quarters of 2017 and 2016. Average short-term borrowings made up 3% and 4% of average interest-bearing liabilities in the first three months of 2017 and 2016, respectively. Average long-term debt made up 5% and 4% of average interest-bearing liabilities in the first quarter of 2017 and 2016, respectively.

The following table sets forth information regarding average loan balances and average yields, segregated into the legacy and acquired portfolios, for the periods indicated.

TABLE 3—AVERAGE LOAN BALANCES AND YIELDS

	Three Months Ended March 31
	2017				2016
(Dollars in thousands)	Average Balance		Average Yield (TE)		Average Balance		Average Yield (TE)
Legacy loans	$	12,760,042	4.19	%	$	11,318,692	4.12	%
Acquired loans	2,285,713		6.81		3,035,718		6.56
Total loans	15,045,755		4.59		14,354,410		4.63
FDIC loss share receivables	—		—		37,360		(47.22	)
Total loans and FDIC loss share receivables	$	15,045,755	4.59	%	$	14,391,770	4.49	%

Provision for Loan Losses

Management of the Company formally assesses the ACL quarterly and will make provisions for loan losses and unfunded lending commitments as necessary in order to maintain the appropriateness of the ACL at the balance sheet date. The provision for loan losses exceeded net charge-offs by $0.1 million and $10.9 million for the three months ended March 31, 2017 and 2016, respectively.

On a consolidated basis, the Company recorded a provision for loan losses of $6.2 million for the three months ended March 31, 2017, an $8.8 million, or 59%, decrease from the provision recorded for the same period of 2016. The Company’s total provision for credit losses recorded during the three months ended March 31, 2017 was $6.6 million, which is $8.2 million, or 56%, below the total provision recorded in the first three months of 2016. The decrease in the provision was primarily due to a $14 million decrease in the provision for energy-related loans from $14.5 million at March 31, 2016 to $0.5 million at March 31, 2017, offset by an increase in the non-energy commercial loan provision as of March 31, 2017 compared to same period for 2016. The provision for energy-related loans decreased as certain energy-related classified assets have cycled through resolution. Classified energy loans decreased 37% to $182.1 million at March 31, 2017, compared to $287.4 million at March 31, 2016. Conversely, non-energy-related classified commercial loans increased 59% to $110.5 million at March 31, 2017. Net charge-offs to average loans in the legacy portfolio were 0.20% as of March 31, 2017, compared to 0.15% as of March 31, 2016.

See the "Asset Quality" section for further discussion on past due loans, non-performing assets, troubled debt restructurings and the allowance for credit losses.

Non-interest Income

The Company’s operating results for the three months ended March 31, 2017 included non-interest income of $47.3 million compared to $55.8 million for the same period of 2016. This $8.5 million, or 15%, decrease in non-interest income included a $5.8 million, or 29%, decrease in mortgage income, primarily due to a $4.7 million decrease in market value adjustments that was driven by a $104.1 million decrease in the locked pipeline volume compared to the same period for 2016. In addition, broker commissions decreased by $1.1 million, or 28%, primarily due to a decrease in sales and trade commissions. Other non-interes

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t income also decreased$2.4 million primarily due to a $1.9 million decrease in client derivatives income and lower gains on the sales of SBA loans.

These decreases were partially offset by a $0.6 million, or 22%, increase in credit card and merchant-related income and a $0.2 million, or 2%, increase in service charges on deposit accounts. Non-interest income as a percentage of total gross revenue (defined as total interest and non-interest income) was 20% in the first quarter of 2017 compared to 24% in the first quarter of 2016.

Non-interest Expense

The Company’s results for the first three months of 2017 included non-interest expense of $141.0 million, an increase of $3.6 million, or 3%, compared to the same quarter of 2016. For the quarter, the Company’s efficiency ratio was 64.1%, compared to 63.3% in the first quarter of 2016.

Salaries and employee benefits expense increased by $1.1 million, or 1%, in the first quarter of 2017 compared to the same period of 2016, primarily due to higher employee benefits expenses (including payroll taxes and medical expenses). Credit and other loan-related expenses increased by $1.9 million, or 69%, compared to the first quarter of 2016, partially due to an increase in the provision for unfunded lending commitments. Professional services increased by $1.6 million in the first quarter of 2017, primarily due to an increase in legal expenses and consulting services. Data processing increased $1.0 million in the first quarter of 2017 when compared to the same period of 2016, primarily due to the implementation of new software including more cloud-based applications.

These increases were partially offset by a decrease of $0.9 million, or 5%, in net occupancy and equipment expense in the first three months of 2017, mostly due to decreases in equipment rental expense and insurance expense as a result of branch closures in 2016. In addition, a $2.6 million FDIC loss share reimbursement expense that was incurred during the first quarter of 2016. The Company terminated all loss share agreements in December of 2016.

Income Taxes

For the three months ended March 31, 2017 and 2016, the Company recorded income tax expense of $22.5 million and $22.1 million, respectively, which resulted in an effective income tax rate of 30.9% and 34.1%, respectively.

The difference between the effective tax rate and the statutory federal and state tax rates relates to items that are non-taxable or non-deductible, primarily the effect of tax-exempt income and various tax credits. The effective tax rate in 2017 decreased primarily due to the increase in deductions from taxable income for certain incentive-based expenses (restricted stock and certain stock options) as a result of the implementation of ASU No. 2016-09. This ASU requires the Company to recognize the excess tax benefits/(shortfalls) of exercised or vested awards as income tax benefit/(expense) through the income statement, whereas these excess tax benefits/(shortfalls) were previously recognized in additional paid-in-capital on the balance sheet.

FINANCIAL CONDITION

Earning Assets

Interest income associated with earning assets is the Company’s primary source of income. Earning assets are composed of interest-earning or dividend-earning assets, including loans, securities, short-term investments, and loans held for sale. Earning assets increased $352.2 million, or 2%, since December 31, 2016.

The following discussion highlights the Company’s major categories of earning assets.

Loans

The Company had total loans of approximately $15.1 billion at March 31, 2017, an increase of $67.2 million from December 31, 2016. Legacy loans increased$228.5 million, or 2%, to $12.9 billion at March 31, 2017, while acquired loans decreased$161.3 million, or 7%, to $2.2 billion at March 31, 2017. The growth in the legacy portfolio included increases in commercial loans of $203.8 million, or 2%, and mortgage loans of $47.6 million, or 6%, offset by a decrease in consumer loans of $23.0 million, or 1%, compared to December 31, 2016 balances. The acquired portfolio decreased as pay-downs and pay-offs occurred. In addition, acquired loans are transferred to the legacy portfolio as they are refinanced, renewed, restructured, or otherwise underwritten to the Company's standards.

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The major categories of loans outstanding at March 31, 2017 and December 31, 2016 are presented in the following tables, segregated into legacy and acquired loans.

TABLE 4—SUMMARY OF LOANS

	March 31, 2017
(Dollars in thousands)	Commercial						Consumer and Other
	Real Estate		Commercial and Industrial		Energy-related		Residential Mortgage		Home equity		Indirect automobile		Credit Card		Other		Total
Legacy	$	5,878,509	$	3,140,205	$	562,515	$	901,859	$	1,797,123	$	110,174	$	83,612	$	449,447	$	12,923,444
Acquired	1,099,365		315,373		1,108		394,499		349,673		26		501		48,213		2,208,758
Total loans	$	6,977,874	$	3,455,578	$	563,623	$	1,296,358	$	2,146,796	$	110,200	$	84,113	$	497,660	$	15,132,202
	December 31, 2016
	Commercial						Consumer and Other
	Real Estate		Commercial and Industrial		Energy-related		Residential Mortgage		Home equity		Indirect automobile		Credit Card		Other		Total
Legacy	$	5,623,314	$	3,194,796	$	559,289	$	854,216	$	1,783,421	$	131,048	$	82,524	$	466,316	$	12,694,924
Acquired	1,178,952		348,326		1,904		413,184		372,505		4		468		54,704		2,370,047
Total loans	$	6,802,266	$	3,543,122	$	561,193	$	1,267,400	$	2,155,926	$	131,052	$	82,992	$	521,020	$	15,064,971

Loan Portfolio Components

The Company’s loan to deposit ratio at both March 31, 2017 and December 31, 2016 was 87%. The percentage of fixed-rate loans to total loans decreased from 45% at the end of 2016 to 43% at March 31, 2017.

Commercial Loans

Total commercial loans increased$90.5 million, or 1%, from December 31, 2016, with $203.8 million, or 2%, in legacy loan growth and a decrease in acquired commercial loans of $113.3 million, or 7%. Commercial loans were 73% of the total loan portfolio at March 31, 2017, consistent with the composition at December 31, 2016. Unfunded commitments on commercial loans including approved loan commitments not yet funded were $4.1 billion at March 31, 2017, an increase of $38.1 million, or 0.9%, when compared to the end of the prior year.

Commercial real estate loans increased$175.6 million, or 3%, during the quarter, consisting of increases in legacy commercial real estate loans of $255.2 million, or 5%, offset by decreases in acquired commercial real estate loans of $79.6 million, or 7%. At March 31, 2017, commercial real estate loans totaled $7.0 billion, or 46%, of the total loan portfolio, consistent with December 31, 2016.

As of March 31, 2017, commercial and industrial loans totaled $3.5 billion, an $87.5 million, or 2%, decrease from December 31, 2016. Commercial and industrial loans comprised approximately 23% of the total loan portfolio at March 31, 2017 and December 31, 2016.

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The following table details the Company’s commercial loans by state.

TABLE 5—COMMERCIAL LOANS BY STATE OF ORIGINATION

(Dollars in thousands)	Louisiana		Florida		Alabama		Texas		Arkansas		Georgia		Tennessee		Other		Total
March 31, 2017
Legacy	$	3,073,432	$	1,659,104	$	1,213,889	$	1,852,933	$	650,560	$	534,710	$	516,679	$	79,922	$	9,581,229
Acquired	180,356		800,375		13,771		36,869		—		353,648		9,970		20,857		1,415,846
Total	$	3,253,788	$	2,459,479	$	1,227,660	$	1,889,802	$	650,560	$	888,358	$	526,649	$	100,779	$	10,997,075
December 31, 2016
Legacy	$	3,133,872	$	1,546,290	$	1,157,914	$	1,849,625	$	639,053	$	436,936	$	540,479	$	73,230	$	9,377,399
Acquired	193,059		843,191		19,050		39,391		—		395,299		12,868		26,324		1,529,182
Total	$	3,326,931	$	2,389,481	$	1,176,964	$	1,889,016	$	639,053	$	832,235	$	553,347	$	99,554	$	10,906,581

Energy-related Loans

The Company’s loan portfolio includes energy-related loans of $563.6 million at March 31, 2017, compared to $561.2 million at December 31, 2016, a $2.4 millionincrease. Energy-related loans were 3.7% of total loans at March 31, 2017 and December 31, 2016. At March 31, 2017, exploration and production (“E&P”) loans accounted for 47% of energy-related loans and 53% of energy-related commitments. Midstream companies accounted for 22% of energy-related loans and 23% of energy loan commitments, while service company loans totaled 31% of energy-related loans and 24% of energy commitments.

The rapid and sustained decline in energy commodity prices that began in 2014 and culminated in early 2016 appears to be slowly recovering. The financial condition of businesses and communities tied to the oil and gas industries remains unsettled. While the vast majority of the Company's loan portfolio continues to have no exposure to these concerns, we took actions to mitigate the risks in the weakened economic environment by employing a risk-off strategy, reducing or exiting exposures in our highest risk credits and strengthening certain underwriting standards.

During 2016, many of the Company's criticized (defined as special mention or worse) energy credits deteriorated and cycled toward resolution, as expected. Management has been closely monitoring these loans since the decline in commodities prices in 2014.  Beginning in late 2016, and thus far in 2017, energy prices have shown some stabilization, and the Company expects that prices will remain stable or rise in the foreseeable future.  As a result, energy-related criticized assets have also stabilized, decreasing $70 million, or 22%, since December 31, 2016. The Company's historical focus on sound client selection, conservative credit underwriting, proactive portfolio management, and market and business diversification continue to serve the Company well. The strategic decision to expand into other markets across the southeast allows the Company to drive growth and profitability to offset declining positions in impacted energy segments of business. Based on the composition and detailed analysis of its energy portfolio at March 31, 2017, the Company believes most of its energy exposure is in areas of lower credit risk; however, a deterioration in prices of energy commodities or other factors could lead to increased losses in future periods.

Residential Mortgage Loans

Residential mortgage loans consist of loans to consumers to finance a primary residence. The vast majority of the residential mortgage loan portfolio is comprised of non-conforming 1-4 family mortgage loans secured by properties located in the Company's market areas and originated under terms and documentation that permit their sale in a secondary market. Total residential mortgage loans increased$29.0 million, or 2.3%, compared to December 31, 2016, primarily the result of a $23.2 million increase in non-conforming single-family mortgage loan originations.

Consumer and Other Loans

The Company offers consumer loans in order to provide a full range of retail financial services to customers in the communities in which it operates. The Company originates substantially all of its consumer loans in its primary market areas. At March 31, 2017, $2.8 billion, or 19%, of the total loan portfolio was comprised of consumer loans, compared to $2.9 billion, or 19%, at the end of 2016. Total consumer loans at March 31, 2017 decreased$52.2 million, or 2%, from December 31, 2016, primarily due to a $20.9 million decrease in indirect automobile loans, a product that is no longer offered. The majority of the consumer loan portfolio is comprised of home equity loans, which were approximately $2.1 billion at both March 31, 2017 and December 31, 2016.

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In order to assess the risk characteristics of the loan portfolio, the Company considers the current U.S. economic environment and that of its primary market areas. See Note 5, Allowance for Credit Losses, to the consolidated financial statements for credit quality factors by loan portfolio segment.

Additional information on the Company’s consumer loan portfolio is presented in the following tables. For the purposes of Table 7, unscoreable consumer loans have been included with loans with credit scores below 660. Credit scores reflect the most recent information available as of the dates indicated.

TABLE 6—CONSUMER LOANS BY STATE OF ORIGINATION

(Dollars in thousands)	Louisiana		Florida		Alabama		Texas		Arkansas		Georgia		Tennessee		Other		Total
March 31, 2017
Legacy	$	1,023,818	$	464,690	$	256,323	$	114,495	$	259,614	$	72,505	$	72,834	$	176,077	$	2,440,356
Acquired	119,958		191,188		3,618		26,746		—		46,466		10,432		5		398,413
Total	$	1,143,776	$	655,878	$	259,941	$	141,241	$	259,614	$	118,971	$	83,266	$	176,082	$	2,838,769
December 31, 2016
Legacy	$	1,033,358	$	437,316	$	264,293	$	119,366	$	266,443	$	68,167	$	69,736	$	204,630	$	2,463,309
Acquired	126,758		203,840		4,085		30,990		—		50,906		11,085		17		427,681
Total	$	1,160,116	$	641,156	$	268,378	$	150,356	$	266,443	$	119,073	$	80,821	$	204,647	$	2,890,990

TABLE 7—CONSUMER LOANS BY CREDIT SCORE

(Dollars in thousands)	Below 660		660-720		Above 720		Discount			Total
March 31, 2017
Legacy	$	488,560	$	597,050	$	1,354,746	$	—		$	2,440,356
Acquired	98,490		89,115		231,737		(20,929		)	398,413
Total	$	587,050	$	686,165	$	1,586,483	$	(20,929	)	$	2,838,769
December 31, 2016
Legacy	$	526,479	$	601,285	$	1,335,545	$	—		$	2,463,309
Acquired	169,980		84,100		195,324		(21,723		)	427,681
Total	$	696,459	$	685,385	$	1,530,869	$	(21,723	)	$	2,890,990

Mortgage Loans Held for Sale

The Company continues to sell the majority of conforming mortgage loan originations in the secondary market rather than assume the interest rate risk associated with these longer term assets. Upon the sale, the Company retains servicing on a limited portion of these loans. Loans held for sale totaled $122.3 million at March 31, 2017, a decrease of $34.7 million, or 22%, from $157.0 million at year-end 2016. During the first three months of 2017, the company originated approximately $393.9 million in mortgage loans.

Loans held for sale have primarily been fixed-rate single-family residential mortgage loans under contracts to be sold in the secondary market. In most cases, loans in this category are sold within thirty days of closing. Buyers generally have recourse to return a purchased loan to the Company under limited circumstances. See Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016, for further discussion.

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Investment Securities

Investment securities increased by $374.7 million, or 11%, since December 31, 2016 to $3.9 billion at March 31, 2017. Investment securities approximated 18% and 16% of total assets at March 31, 2017 and December 31, 2016, respectively. Average investment securities were 19% of average earning assets in the first three months of 2017, up from 16% for the same period of 2016.

All of the Company's mortgage-backed securities were issued by government-sponsored enterprises at March 31, 2017. The Company does not hold any Fannie Mae or Freddie Mac preferred stock, corporate equity, collateralized debt obligations, collateralized loan obligations, or structured investment vehicles, nor does it hold any private label collateralized mortgage obligations, subprime, Alt-A, sovereign debt, or second lien elements in its investment portfolio. At March 31, 2017, the Company's investment portfolio did not contain any securities that are directly backed by subprime or Alt-A mortgages.

Funds generated as a result of sales and prepayments of investment securities are used to fund loan growth and purchase other securities. The Company continues to monitor market conditions and take advantage of market opportunities with appropriate risk and return elements.

The Company assesses the nature of the unrealized losses in its investment portfolio at least quarterly to determine if there are losses that are deemed other-than-temporary. In its analysis of these securities, management considers numerous factors to determine whether there are instances where the amortized cost basis of the debt securities would not be fully recoverable including: the length of time and extent to which the fair value of the securities was less than their amortized cost; whether adverse conditions were present in the operations, geographic area or industry of the issuer; the payment structure of the security, including scheduled interest and principal payments; the issuer's failures to make scheduled payments, if any, and the likelihood of failure to make such scheduled payments in the future; changes to the rating of the security by a rating agency; and subsequent recoveries or additional declines in fair value after the balance sheet date.

Based on its analysis, the Company concluded no declines in the estimated fair value of the Company’s investment securities were deemed to be other-than-temporary at March 31, 2017 and December 31, 2016. Note 3 to the consolidated financial statements provides further information on the Company’s investment securities.

Short-term Investments

Short-term investments primarily result from excess funds invested overnight in interest-bearing deposit accounts at the FRB and the FHLB of Dallas. These balances fluctuate daily depending on the funding needs of the Company and earn interest at the current FHLB and FRB discount rates. The balance in interest-bearing deposits at other institutions decreased$42.1 million, or 4%, from December 31, 2016 to $1.0 billion at March 31, 2017. The Company’s cash activity is further discussed in the “Liquidity and Other Off-Balance Sheet Activities” section below.

Asset Quality

The lending activities of the Company are governed by underwriting policies established by management and approved by the Board Risk Committee of the Board of Directors. Commercial risk personnel, in conjunction with senior lending personnel, underwrite the vast majority of commercial business and commercial real estate loans. The Company provides centralized underwriting of substantially all residential mortgage, small business and consumer loans. Established loan origination procedures require appropriate documentation, including financial data and credit reports. For loans secured by real property, the Company generally requires property appraisals, title insurance or a title opinion, hazard insurance, and flood insurance, where appropriate.

Loan payment performance is monitored and late charges are generally assessed on past due accounts. Delinquent and problem loans are administered by functional teams of specialized risk officers. Risk ratings on commercial exposures (as described below) are reviewed on an ongoing basis and are adjusted as necessary based on the obligor’s risk profile and debt capacity. The central loan review department is responsible for independently assessing and validating risk ratings assigned to commercial exposures through a periodic sampling process.All other loans are also subject to loan reviews through a similar periodic sampling process. The Company exercises judgment in determining the risk classification of its commercial loans.

The Company utilizes an asset risk classification system in accordance with guidelines established by the FRB as part of its efforts to monitor commercial asset quality. In connection with their examinations of insured institutions, both federal and state examiners also have the authority to identify problem assets and, if appropriate, reclassify them. There are three classifications for problem assets: “substandard,” “doubtful,” and “loss”, all of which are considered adverse classifications. Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the Company will sustain some loss if the weaknesses are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional

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characteristic that the weaknesses make collection or liquidation in full questionable, and there is a high probability of loss based on currently existing facts, conditions and values. An asset classified as loss is considered not collectible and of such little value that continuance as an asset of the Company is not warranted.

In the first quarter of 2016, the banking regulatory agencies issued interpretive guidance on the valuation of collateral underlying E&P loans and how such valuations should impact the assessment of the inherent credit risk (and ultimately risk ratings and charge-offs) in such loans. The Company's implementation of this guidance in the first quarter of 2016 contributed to the increase in criticized assets within the Company's energy portfolio.

Commercial loans are placed on non-accrual status when any of the following occur: 1) the loan is maintained on a cash basis because of deterioration in the financial condition of the borrower; 2) collection of the full contractual amount of principal or interest is not expected (even if the loan is currently paying as agreed); or 3) when principal or interest has been in default for a period of 90 days or more, unless the loan is both well secured and in the process of collection. Factors considered in determining the collection of the full contractual amount of principal or interest include assessment of the borrower’s cash flow, valuation of underlying collateral, and the ability and willingness of guarantors to provide credit support.  Certain commercial loans are also placed on non-accrual status when payment is not past due and full payment of principal and interest is expected, but we have doubt about the borrower’s ability to comply with existing repayment terms. Consideration will be given to placing a loan on non-accrual due to the deterioration of the debtor’s repayment ability, the repayment of the loan becoming dependent on the liquidation of collateral, an existing collateral deficiency, the loan being classified as "Doubtful" or "Loss", the client filing for bankruptcy, and/or foreclosure being initiated. Regarding all classes within the C&I and CRE portfolios, the determination of a borrower’s ability to make the required principal and interest payments is based on an examination of the borrower’s current financial statements, industry, management capabilities, and other qualitative factors.

When a loan is placed on non-accrual status, the accrual of interest income ceases and accrued but unpaid interest is generally reversed against interest income.

Real estate acquired by the Company through foreclosure or by deed-in-lieu of foreclosure is classified as OREO, and is recorded at the lesser of the related loan balance (the pro-rata carrying value for acquired loans) or estimated fair value less costs to sell. Closed bank branches are also classified as OREO and recorded at the lower of cost or market value.

Under GAAP, certain loan modifications or restructurings are designated as TDRs. In general, the modification or restructuring of a debt constitutes a TDR if the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower that the Company would not otherwise consider under current market conditions. See Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016 for further details.

Non-performing Assets

The Company defines non-performing assets as non-accrual loans, accruing loans more than 90 days past due, OREO, and foreclosed property. Management continually monitors loans and transfers loans to non-accrual status when warranted.

The Company accounts for loans formerly covered by loss sharing agreements with the FDIC, other loans acquired with deteriorated credit quality, as well as all loans acquired with significant discounts that did not exhibit deteriorated credit quality at acquisition, in accordance with ASC Topic 310-30. Collectively, all loans accounted for under ASC 310-30 are referred to as "purchased impaired loans". Application of ASC Topic 310-30 results in significant accounting differences, compared to loans originated or acquired by the Company that are not accounted for under ASC 310-30. See Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016 for further details.

Due to the significant difference in accounting for purchased impaired loans, the Company believes inclusion of these loans in certain asset quality ratios that reflect non-performing assets in the numerator or denominator (or both) results in significant distortion to these ratios. In addition, because loan level charge-offs related to purchased impaired loans are not recognized in the financial statements until the cumulative amounts exceed the original loss projections on a pool basis, the net charge-off ratio for acquired loans is not consistent with the net charge-off ratio for other loan portfolios. The inclusion of these loans in certain asset quality ratios could result in a lack of comparability across quarters or years, and could impact comparability with other portfolios that were not impacted by purchased impaired loan accounting. The Company believes that the presentation of certain asset quality measures excluding purchased impaired loans, as indicated below, and related amounts from both the numerator and denominator provides better perspective into underlying trends related to the quality of its loan portfolio. Accordingly, the asset quality measures in the tables below present asset quality information excluding purchased impaired loans, as indicated within each table, and related amounts.

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Legacy non-performing assets decreased$35.5 million, or 15%, compared to December 31, 2016, as non-performing loans decreased$34.5 million. Including TDRs that are in compliance with their modified terms, total non-performing assets and TDRs decreased $50.1 million during the first three months of 2017.

The following table sets forth the composition of the Company’s non-performing assets, including accruing loans 90 days or more past due and TDRs for the periods indicated.

TABLE 8—NON-PERFORMING ASSETS AND TROUBLED DEBT RESTRUCTURINGS

	March 31, 2017						December 31, 2016
(Dollars in thousands)	Legacy			Acquired (4)			Legacy			Acquired (4)
Non-accrual loans:
Commercial	$	48,366		$	4,004		$	47,666		$	4,484
Energy-related	113,212			—			150,329			—
Mortgage	12,968			789			13,014			719
Consumer and credit card	10,532			1,711			10,534			1,755
Total non-accrual loans	185,078			6,504			221,543			6,958
Accruing loans 90 days or more past due	3,100			4,880			1,104			282
Total non-performing loans (1)	188,178			11,384			222,647			7,240
OREO and foreclosed property (2)	8,217			11,838			9,264			11,935
Total non-performing assets (1)	196,395			23,222			231,911			19,175
Performing troubled debt restructurings (3)	81,379			8,225			95,951			8,418
Total non-performing assets and troubled debt restructurings (1)	$	277,774		$	31,447		$	327,862		$	27,593
Non-performing loans to total loans (1)	1.46		%	0.52		%	1.75		%	0.31		%
Non-performing assets to total assets (1)	0.99		%	1.06		%	1.20		%	0.81		%
Non-performing assets and troubled debt restructurings to total assets (1)	1.40		%	1.43		%	1.70		%	1.17		%
Allowance for credit losses to non-performing loans	62.43		%	343.26		%	52.46		%	540.75		%
Allowance for credit losses to total loans	0.91		%	1.77		%	0.92		%	1.65		%

⁽¹⁾  Non-performing loans and assets include accruing loans 90 days or more past due.

⁽²⁾  OREO and foreclosed property at March 31, 2017 and December 31, 2016 include $2.5 million and $4.8 million, respectively, of legacy former bank properties held for development or resale.

⁽³⁾  Performing troubled debt restructurings for March 31, 2017 and December 31, 2016 exclude $106.4 million and $136.8 million, respectively, of legacy loans, and $1.6 million and $2.2 million, respectively, of acquired loans that meet non-performing asset criteria.

⁽⁴⁾  Acquired non-performing loans exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

Non-performing legacy loans were 1.46% of total legacy loans at March 31, 2017, 29 basis points lower than at December 31, 2016. The decrease of $34.5 million in legacy non-performing loans was primarily due to payments totaling approximately $36.5 million on seven energy-related non-accrual loans during the first quarter of 2017.

Non-performing assets as a percentage of total assets have decreased since year-end primarily as a result of the decline in legacy non-accrual loans, mainly energy credits, as previously discussed. Legacy non-performing assets were 0.99% of total legacy assets at March 31, 2017, 21 basis points below December 31, 2016. The allowance for credit losses as a percentage of non-performing legacy loans was 62.43% at March 31, 2017 compared to 52.46% at December 31, 2016. The Company’s allowance for credit losses as a percentage of total legacy loans decreased one basis point from December 31, 2016 to 0.91% at March 31, 2017. The Company has considered the collateral support on these non-performing assets in determining the allowance for credit losses.

The Company had gross charge-offs on legacy loans of $7.2 million during the three months ended March 31, 2017. Offsetting these charge-offs were recoveries of $0.9 million. As a result, net charge-offs on legacy loans during the first three months of

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2017 were $6.3 million, or 0.20% annualized, of average loans as compared to net charge-offs of $4.1 million, or 0.15% annualized, for the first three months of 2016.

At March 31, 2017, the Company had $246.4 million of legacy commercial assets classified as substandard and $46.2 million of commercial assets classified as doubtful. Accordingly, the aggregate of the Company’s legacy classified commercial assets was 1.33% of total assets, 1.93% of total loans, and 2.26% of legacy loans. At December 31, 2016, legacy classified commercial assets totaled $348.6 million, or 1.61% of total assets, 2.31% of total loans, and 2.75% of legacy loans. As with non-classified assets, a reserve for credit losses has been recorded for substandard loans at March 31, 2017 in accordance with the Company’s allowance for credit losses policy.

In addition to the problem loans described above, there were $150.3 million of legacy commercial loans classified as special mention at March 31, 2017, which in management’s opinion were subject to potential future rating downgrades. Special mention loans are defined as loans where known information about possible credit problems of the borrowers causes management to have some doubt as to the ability of these borrowers to comply with the present loan repayment terms, which may result in future disclosure of these loans as non-performing. Special mention loans at March 31, 2017 increased $12.1 million, or 8.7%, from December 31, 2016, primarily due to commercial real estate loans.

The asset quality of the Company’s energy-related loan portfolio has generally improved during the first three months of 2017. At March 31, 2017, criticized energy-related loans totaled $247.5 million and classified energy-related loans totaled $182.1 million, compared to criticized energy-related loans of $317.2 million and classified energy-related loans of $237.1 million at December 31, 2016. Non-accrual energy-related loans totaled $113.2 million at March 31, 2017, compared to $150.3 million at year-end 2016. In the first quarter of 2017, the Company has experienced $2.8 million in energy-related net charge-offs. There were no energy-related charge-offs during the first three months of 2016. See Note 5 "Allowance for Credit Losses and Credit Quality" for further details.

Past Due and Non-accrual Loans

Past due status is based on the contractual terms of loans. Total legacy past due and non-accrual loans were 1.71% of total legacy loans at March 31, 2017 compared to 1.95% at December 31, 2016. At March 31, 2017, total acquired loans past due were 0.69% of total acquired loans, an increase of 22 basis points from December 31, 2016. Additional information on past due loans is presented in the following table.

TABLE 9—PAST DUE AND NON-ACCRUAL LOAN SEGREGATION

	March 31, 2017
	Legacy				Acquired (1)				Total
(Dollars in thousands)	Amount		% of Outstanding Balance		Amount		% of Outstanding Balance		Amount		% of Outstanding Balance
Accruing loans:
30-59 days past due	$	25,402	0.20	%	$	2,502	0.11	%	$	27,904	0.18	%
60-89 days past due	6,884		0.05		1,384		0.06		8,268		0.05
90-119 days past due	3,100		0.02		4,880		0.22		7,980		0.05
120 days past due or more	—		—		—		—		—		—
	35,386		0.27		8,766		0.40		44,152		0.29
Non-accrual loans	185,078		1.43		6,504		0.29		191,582		1.27
Total past due and non-accrual loans	$	220,464	1.71	%	$	15,270	0.69	%	$	235,734	1.56	%

⁽¹⁾  Acquired past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

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	December 31, 2016
	Legacy				Acquired (1)				Total
(Dollars in thousands)	Amount		% of Outstanding Balance		Amount		% of Outstanding Balance		Amount		% of Outstanding Balance
Accruing loans:
30-59 days past due	$	18,026	0.14	%	$	2,586	0.11	%	$	20,612	0.14	%
60-89 days past due	6,876		0.05		1,381		0.06		8,257		0.05
90-119 days past due	880		0.01		250		0.01		1,130		0.01
120 days past due or more	224		—		32		—		256		—
	26,006		0.20		4,249		0.18		30,255		0.20
Non-accrual loans	221,543		1.75		6,958		0.29		228,501		1.52
Total past due and non-accrual loans	$	247,549	1.95	%	$	11,207	0.47	%	$	258,756	1.72	%

⁽¹⁾  Acquired past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

Total past due and non-accrual loans decreased$23.0 million from December 31, 2016 to $235.7 million at March 31, 2017. The change was primarily due to a decrease of $36.9 million in non-accrual loans, primarily from an improvement in legacy energy-related non-accrual loans, partially offset by increases in accruing loans 30-59 days past due of $7.3 million and 90-119 days past due of $6.9 million from a limited number of legacy loans moving to past due at March 31, 2017.

Allowance for Credit Losses

The allowance for credit losses represents management’s best estimate of probable credit losses inherent at the balance sheet date. Determination of the allowance for credit losses involves a high degree of complexity and requires significant judgment. Several factors are taken into consideration in the determination of the overall allowance for credit losses. Based on facts and circumstances available, management of the Company believes that the allowance for credit losses was appropriate at March 31, 2017 to cover probable losses in the Company’s loan portfolio. However, future adjustments to the allowance may be necessary, and the results of operations could be adversely affected, if circumstances differ substantially from the assumptions used by management in determining the allowance for credit losses. See the “Application of Critical Accounting Policies and Estimates” and Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016 for more information.

The allowance for credit losses was $156.6 million at March 31, 2017, or 1.03% of total loans, $0.6 million higher than at December 31, 2016. The allowance for credit losses as a percentage of loans was 1.04% at December 31, 2016.

The allowance for credit losses on the legacy portfolio increased $0.7 million, or 0.6%, to $117.5 million since December 31, 2016. The acquired allowance for credit losses includes a reserve of $39.1 million for losses probable in the portfolio at March 31, 2017 above estimated expected credit losses at acquisition, and remained flat as compared to December 31, 2016.

At March 31, 2017 and December 31, 2016, the legacy allowance for loan losses covered 56% and 47% of total non-performing loans, respectively. Including acquired non-impaired loans, the allowance for loan losses covered 73% of total non-performing loans at March 31, 2017 and 63% at December 31, 2016.

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The following tables set forth the activity in the Company’s allowance for credit losses.

TABLE 10—SUMMARY OF ACTIVITY IN THE ALLOWANCE FOR CREDIT LOSSES

	March 31, 2017									March 31, 2016
(Dollars in thousands)	Legacy Loans			Acquired Loans			Total			Legacy Loans			Acquired Loans			Total
Allowance for loan losses at beginning of period	$	105,569		$	39,150		$	144,719		$	93,808		$	44,570		$	138,378
Provision for (Reversal of) loan losses before benefit attributable to FDIC loss share agreements	6,566			(412		)	6,154			15,908			(1,261		)	14,647
Adjustment attributable to FDIC loss share arrangements	—			—			—			—			258			258
Net provision for (Reversal of) loan losses	6,566			(412		)	6,154			15,908			(1,003		)	14,905
Adjustment attributable to FDIC loss share arrangements	—			—			—			—			(258		)	(258		)
Transfer of balance to OREO and other	—			73			73			—			(2,459		)	(2,459		)
Loans charged-off	(7,202		)	(89		)	(7,291		)	(5,389		)	(171		)	(5,560		)
Recoveries	880			355			1,235			1,247			304			1,551
Allowance for loan losses at end of period	105,813			39,077			144,890			105,574			40,983			146,557
Reserve for unfunded commitments at beginning of period	11,241			—			11,241			14,145			—			14,145
Provision for (Reversal of) unfunded lending commitments	419			—			419			(112		)	—			(112		)
Reserve for unfunded lending commitments at end of period	11,660			—			11,660			14,033			—			14,033
Allowance for credit losses at end of period	$	117,473		$	39,077		$	156,550		$	119,607		$	40,983		$	160,590

FDIC Loss Share Receivable

As part of the FDIC-assisted acquisitions in 2009 and 2010, the Company recorded a receivable from the FDIC, which represented the fair value of the expected reimbursable losses covered by the loss share agreements as of the acquisition dates. The FDIC loss share receivable was written-off in December of 2016 when the Company entered into an agreement with the FDIC to terminate the Company's loss share agreements prior to their contractual maturities. The Company received a net payment of $6.5 million from the FDIC as consideration for this termination and subsequently derecognized the remaining FDIC indemnification asset and associated assets and liabilities, resulting in a pre-tax loss of $17.8 million.

The Company will benefit from all future recoveries, and be responsible for all future losses and expenses related to the assets previously subject to the loss share agreements. Amortization expense associated with the FDIC indemnification asset, which was expected to be $8 million in 2017 at the time of termination, will no longer be recognized and will positively impact the net interest margin. At March 31, 2017, net interest margin improved by 7 basis points due to higher acquired loan yields, partially attributable to the termination of these loss share agreements.

FUNDING SOURCES

Deposits obtained from clients in its primary market areas are the Company’s principal source of funds for use in lending and other business purposes. The Company attracts local deposit accounts by offering a wide variety of products, competitive interest rates and convenient branch office locations and service hours. Increasing core deposits is a continuing focus of the Company and has been accomplished through the development of client relationships and acquisitions. Short-term and long-term borrowings are also an important funding source for the Company. Other funding sources include subordinated debt and shareholders’ equity. Refer to the “Liquidity and Other Off-Balance Sheet Activities” section below for further discussion of the Company’s sources and uses of funding. The following discussion highlights the major changes in the mix of deposits and other funding sources during the first three months of 2017.

Deposits

The Company’s ability to attract and retain customer deposits is critical to the Company’s continued success. Total deposits decreased$96.0 million, or 1%, to $17.3 billion at March 31, 2017, from $17.4 billion at December 31, 2016. Over the same

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period, non-interest-bearing deposits increased$102.7 million, or 2%, and equated to 29% and 28% of total deposits at March 31, 2017 and December 31, 2016, respectively. Additionally, interest-bearing deposits also decreased$198.7 million, or 2%, from December 31, 2016.

The following table sets forth the composition of the Company’s deposits as of the dates indicated.

TABLE 11—DEPOSIT COMPOSITION BY PRODUCT

(Dollars in thousands)	March 31, 2017				December 31, 2016				$ Change		% Change
Non-interest-bearing deposits	$	5,031,583	29	%	$	4,928,878	28	%	102,705		2
NOW accounts	3,085,720		18		3,314,281		19		(228,561	)	(7	)
Money market accounts	6,372,855		37		6,219,532		36		153,323		2
Savings accounts	813,009		5		814,385		5		(1,376	)	—
Certificates of deposit	2,009,098		11		2,131,207		12		(122,109	)	(6	)
Total deposits	$	17,312,265	100	%	$	17,408,283	100	%	(96,018	)	(1	)

Short-term Borrowings

The Company may obtain advances from the FHLB of Dallas based upon its ownership of FHLB stock and certain pledges of its real estate loans and investment securities, provided certain standards related to the Company’s creditworthiness have been met. These advances are made pursuant to several credit programs, each of which has its own interest rate and range of maturities. The level of short-term borrowings can fluctuate significantly on a daily basis depending on funding needs and the source of funds chosen to satisfy those needs.

The Company also enters into repurchase agreements to facilitate customer transactions that are accounted for as secured borrowings. These transactions typically involve the receipt of deposits from customers that the Company collateralizes with its investment portfolio and have an average rate of 13.5 basis points.

The following table details the average and ending balances of repurchase transactions as of and for the periods ended March 31:

TABLE 12—REPURCHASE TRANSACTIONS

(Dollars in thousands)	2017		2016
Average balance	$	311,726	$	217,296
Ending balance	368,696		303,238

Total short-term borrowings decreased$60.4 million, or 12%, from December 31, 2016, to $448.7 million at March 31, 2017, a result of a decrease of $95.0 million in outstanding FHLB advances offset by an increase of $34.6 million in repurchase agreements. On a quarter-to-date average basis, short-term borrowings decreased$83.9 million, or 17%, from the first quarter of 2016, largely due to a decrease of $178.4 million in short-term FHLB advances, partially offset by an increase in repurchase agreements during 2017.

Total short-term borrowings were 2% of total liabilities and 42% of total borrowings at March 31, 2017 compared to 3% and 45%, respectively, at December 31, 2016. On a quarter-to-date average basis, short-term borrowings were 2% of total liabilities and 40% of total borrowings in the first quarter of 2017, compared to 3% and 49%, respectively, during the same period of 2016.

The weighted average rate paid on short-term borrowings was 0.27% during the first quarter of 2017, down 12 basis points compared to 0.39% in the same period of 2016.

Long-term Debt

Long-term debt slightly decreased to $628.1 million at March 31, 2017 from $629.0 million at December 31, 2016, due to a decrease in FHLB advances. On a period-end basis, long-term debt was 3% of total liabilities at March 31, 2017 and December 31, 2016.

On average, long-term debt increased to $618.5 million in the first quarter of 2017, $95.0 million, or 18%, higher than the first quarter of 2016 due to an increase in FHLB advances, partially offset by a decrease in notes payable. Average long-term debt was 3% of average total liabilities during both the current quarter and the first quarter of 2016.

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Long-term debt at March 31, 2017 included $479.2 million in fixed-rate advances from the FHLB of Dallas that cannot be prepaid without incurring substantial penalties. The remaining debt consisted of $120.1 million of the Company’s junior subordinated debt and $28.8 million in notes payable on investments in new market tax credit entities. Interest on the junior subordinated debt is payable quarterly and may be deferred at any time at the election of the Company for up to 20 consecutive quarterly periods. During any deferral period, the Company is subject to certain restrictions, including being prohibited from declaring dividends to its common shareholders. The junior subordinated debt is redeemable by the Company in whole or in part.

CAPITAL RESOURCES

On March 7, 2017, the Company issued an additional 6,100,000 shares of its common stock at a price of $83.00 per common share. Net proceeds from the offering, after deduction of underwriting discounts, commissions, and direct issuance costs, were $485.2 million. The Company intends to use the proceeds of the offering to fund a portion of the approximately $803.1 million in cash consideration payable in connection with its announced acquisition of Sabadell United Bank, N.A.

Federal regulations impose minimum regulatory capital requirements on all institutions with deposits insured by the FDIC. The FRB imposes similar capital regulations on bank holding companies. Compliance with bank and bank holding company regulatory capital requirements, which include leverage and risk-based capital guidelines, are monitored by the Company on an ongoing basis. Under the risk-based capital method, a risk weight is assigned to balance sheet and off-balance sheet items based on regulatory guidelines.

At March 31, 2017 and December 31, 2016, the Company exceeded all required regulatory capital ratios, and the regulatory capital ratios of IBERIABANK were in excess of the levels established for “well-capitalized” institutions, as shown in the following table and chart.

TABLE 13—REGULATORY CAPITAL RATIOS

Ratio	Entity	Well- Capitalized Minimums		March 31, 2017		December 31, 2016
				Actual		Actual
Tier 1 Leverage	IBERIABANK Corporation	N/A		12.91	%	10.86	%
	IBERIABANK	5.00	%	9.13		9.21
Common Equity Tier 1 (CET1)	IBERIABANK Corporation	N/A		14.64		11.84
	IBERIABANK	6.50	%	10.88		10.67
Tier 1 risk-based capital	IBERIABANK Corporation	N/A		15.38		12.59
	IBERIABANK	8.00	%	10.88		10.67
Total risk-based capital	IBERIABANK Corporation	N/A		16.92		14.13
	IBERIABANK	10.00	%	11.77		11.56

The increase in IBERIABANK Corporation's capital ratios from December 31, 2016 was primarily driven by an increase in regulatory capital from the additional common stock issued in March 2017, as well as undistributed earnings in the first three months of 2017.

Beginning January 1, 2016, minimum capital ratios were subject to a capital conservation buffer. In order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers, an institution must hold a capital conservation buffer above its minimum risk-based capital requirements. This capital conservation buffer is calculated as the lowest of the differences between the actual CET1 ratio, Tier 1 Risk-Based Capital Ratio, and Total Risk-Based Capital ratio and the corresponding minimum ratios. At March 31, 2017, the required minimum capital conservation buffer was 1.250%, and will increase in subsequent years by 0.625% until it is fully phased in on January 1, 2019 at 2.50%. At March 31, 2017, the capital conservation buffers of the Company and IBERIABANK were 8.92% and 3.77%, respectively.

Management believes that at March 31, 2017, the Company and IBERIABANK would have met all capital adequacy requirements on a fully phased-in basis if such requirements were then effective. There can be no assurances that the Basel III capital rules will not be revised before the expiration of the phase-in periods.

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LIQUIDITY AND OTHER OFF-BALANCE SHEET ACTIVITIES

Liquidity refers to the Company’s ability to generate sufficient cash flows to support its operations and to meet its obligations, including the withdrawal of deposits by customers, commitments to originate loans, and its ability to repay its borrowings and other liabilities. Liquidity risk is the risk to earnings or capital resulting from the Company’s inability to fulfill its obligations as they become due. Liquidity risk also develops from the Company’s failure to timely recognize or address changes in market conditions that affect the ability to liquidate assets in a timely manner or to obtain adequate funding to continue to operate on a profitable basis.

The primary sources of funds for the Company are deposits and borrowings. Other sources of funds include repayments and maturities of loans and investment securities, securities sold under agreements to repurchase, and, to a lesser extent, off-balance sheet borrowing availability. Certificates of deposit scheduled to mature in one year or less at March 31, 2017 totaled $1.2 billion. Based on past experience, management believes that a significant portion of maturing deposits will remain with the Company. Additionally, the majority of the investment securities portfolio is classified as available-for-sale, which provides the ability to liquidate unencumbered securities as needed. Of the $3.9 billion in the investment securities portfolio, $2.3 billion is unencumbered and $1.6 billion has been pledged to support repurchase transactions, public funds deposits and certain long-term borrowings. Due to the relatively short implied duration of the investment securities portfolio, the Company has historically experienced significant cash inflows on a regular basis. Securities cash flows are highly dependent on prepayment speeds and could change materially as economic or market conditions change. 

Scheduled cash flows from the amortization and maturities of loans and securities are relatively predictable sources of funds. Conversely, deposit flows, prepayments of loan and investment securities, and draws on customer letters and lines of credit are greatly influenced by general interest rates, economic conditions, competition, and customer demand. The FHLB of Dallas provides an additional source of liquidity to make funds available for general requirements and also to assist with the variability of less predictable funding sources. At March 31, 2017, the Company had $559.2 million of outstanding FHLB advances, $80.0 million of which was short-term and $479.2 million was long-term. Additional FHLB borrowing capacity available at March 31, 2017 amounted to $5.2 billion. At March 31, 2017, the Company also has various funding arrangements with commercial banks providing up to $180.0 million in the form of federal funds and other lines of credit. At March 31, 2017, there were no balances outstanding on these lines and all of the funding was available to the Company.

Liquidity management is both a daily and long-term function of business management. The Company manages its liquidity with the objective of maintaining sufficient funds to respond to the predicted needs of depositors and borrowers and to take advantage of investments in earning assets and other earnings enhancement opportunities. Excess liquidity is generally invested in short-term investments such as overnight deposits. On a longer-term basis, the Company maintains a strategy of investing in various lending and investment security products. The Company uses its sources of funds primarily to fund loan commitments and meet its ongoing commitments associated with its operations. Based on its available cash at March 31, 2017 and current deposit modeling, the Company believes it has adequate liquidity to fund ongoing operations. The Company has adequate availability of funds from deposits, borrowings, repayments and maturities of loans and investment securities to provide the Company additional working capital if needed.

ASSET/LIABILITY MANAGEMENT, MARKET RISK AND COUNTERPARTY CREDIT RISK

The principal objective of the Company’s asset and liability management function is to evaluate the Company's interest rate risk included in certain balance sheet accounts, determine the appropriate level of risk given the Company’s business focus, operating environment, capital and liquidity requirements and performance objectives, establish prudent asset concentration guidelines and manage the risk consistent with Board approved guidelines. Through such management, the Company seeks to reduce the vulnerability of its operations to changes in interest rates. The Company’s actions in this regard are taken under the guidance of the Asset and Liability Committee. The Asset and Liability Committee normally meets monthly to review, among other things, the sensitivity of the Company’s assets and liabilities to interest rate changes, local and national market conditions, and interest rates. In connection therewith, the Asset and Liability Committee generally reviews the Company’s liquidity, cash flow needs, composition of investments, deposits, borrowings, and capital position.

The objective of interest rate risk management is to control the effects that interest rate fluctuations have on net interest income and on the net present value of the Company’s earning assets and interest-bearing liabilities. Management and the Board are responsible for managing interest rate risk and employing risk management policies that monitor and limit this exposure. Interest rate risk is measured using net interest income simulation and asset/liability net present value sensitivity analyses. The Company uses financial modeling to measure the impact of changes in interest rates on the net interest margin and to predict market risk. Estimates are based upon numerous assumptions including the nature and timing of interest rate levels including yield curve shape, prepayments on loans and securities, deposit decay rates, pricing decisions on loans and deposits,

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reinvestment/replacement of asset and liability cash flows, and others. These analyses provide a range of potential impacts on net interest income and portfolio equity caused by interest rate movements.

Included in the modeling are instantaneous parallel rate shift scenarios, which are utilized to establish exposure limits. These scenarios are known as “rate shocks” because all rates are modeled to change instantaneously by the indicated shock amount, rather than a gradual rate shift over a period of time that has traditionally been more realistic.

The Company’s interest rate risk model indicates that the Company is asset sensitive in terms of interest rate sensitivity. Based on the Company’s interest rate risk model at March 31, 2017, the table below illustrates the impact of an immediate and sustained 100 and 200 basis point increase or decrease in interest rates on net interest income over the next twelve months.

TABLE 14—INTEREST RATE SENSITIVITY

Shift in Interest Rates (in bps)	% Change in Projected Net Interest Income
+200	10.7%
+100	5.6%
-100	(10.1)%
-200	(14.9)%

The influence of using the forward curve as of March 31, 2017 as a basis for projecting the interest rate environment would approximate a 1.5% increase in net interest income over the next 12 months. The computations of interest rate risk shown above are performed on a static balance sheet and do not necessarily include certain actions that management may undertake to manage this risk in response to unanticipated changes in interest rates and other factors to include shifts in deposit behavior.

The short-term interest rate environment is primarily a function of the monetary policy of the FRB. The principal tools of the FRB for implementing monetary policy are open market operations, or the purchases and sales of U.S. Treasury and Federal agency securities, as well as the establishment of a short-term target rate. The FRB’s objective for open market operations has varied over the years, but the focus has gradually shifted toward attaining a specified level of the Federal funds rate to achieve the long-run goals of price stability and sustainable economic growth. The Federal funds rate is the basis for overnight funding and drives the short end of the yield curve. Longer maturities are influenced by the market’s expectations for economic growth and inflation, but can also be influenced by FRB purchases and sales and expectations of monetary policy going forward.

The Federal Open Market Committee (“FOMC”) of the FRB, in an attempt to stimulate the overall economy, has, among other things, kept interest rates low through its targeted Federal funds rate. On March 16, 2017, the FOMC voted to raise the target Federal funds rate by 0.25% to a range of 0.75%-1.00%. The FOMC expects that economic conditions will evolve in a manner that will warrant only gradual increases in the Federal funds rate over the next several years. As the FOMC increases the Federal funds rate, it is possible that overall interest rates could rise, which may negatively impact the housing markets and the U.S. economy. In addition, deflationary pressures, while possibly lowering our operating costs, could have a significant negative effect on our borrowers, especially our commercial borrowers, and the values of collateral securing loans, which could negatively affect our financial performance.

The Company’s commercial loan portfolio is also impacted by fluctuations in the level of one-month LIBOR, as a large portion of this portfolio reprices based on this index, and to a lesser extent Prime. Our net interest income may be reduced if more interest-earning assets than interest-bearing liabilities reprice or mature during a period when interest rates are declining, or more interest-bearing liabilities than interest-earning assets reprice or mature during a period when interest rates are rising.

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The table below presents the Company’s anticipated repricing of loans and investment securities over the next four quarters.

TABLE 15—REPRICING OF CERTAIN EARNING ASSETS ⁽¹⁾ 

(Dollars in thousands)	2Q 2017		3Q 2017		4Q 2017		1Q 2018		Total less than one year
Investment securities	$	122,125	$	138,297	$	132,409	$	131,614	$	524,445
Fixed rate loans	700,589		540,246		489,654		457,922		2,188,411
Variable rate loans	7,918,058		151,320		112,650		122,890		8,304,918
Total loans	8,618,647		691,566		602,304		580,812		10,493,329
	$	8,740,772	$	829,863	$	734,713	$	712,426	$	11,017,774

⁽¹⁾ Amounts include expected maturities, scheduled paydowns, expected prepayments, and loans subject to floors and exclude the repricing of assets from prior periods, as well as non-accrual loans and market value adjustments.

As part of its asset/liability management strategy, the Company has seen greater levels of loan originations with adjustable or variable rates of interest as well as commercial and consumer loans, which typically have shorter terms than residential mortgage loans. The majority of fixed-rate, long-term residential loans are sold in the secondary market to avoid assumption of the interest rate risk associated with longer duration assets in the current low rate environment. As of March 31, 2017, $8.5 billion, or 56%, of the Company’s total loan portfolio had adjustable interest rates. The Company had no significant concentration to any single borrower or industry segment at March 31, 2017.

The Company’s strategy with respect to liabilities in recent periods has been to emphasize transaction accounts, particularly non-interest or low interest-bearing transaction accounts, which are significantly less sensitive to changes in interest rates. At March 31, 2017 and December 31, 2016, 88% of the Company’s deposits were in transaction and limited-transaction accounts. Non-interest-bearing transaction accounts were 29% of total deposits at March 31, 2017, compared to 28% of total deposits at December 31, 2016.

Much of the liquidity increase experienced in the past several years has been due to a significant increase in non-interest-bearing demand deposits. The behavior of non-interest-bearing deposits and other types of demand deposits is one of the most important assumptions used in determining the interest rate and liquidity risk positions. A loss of these deposits in the future would reduce the asset sensitivity of the Company’s balance sheet as interest-bearing funds would most likely be increased to offset the loss of this favorable funding source.

The table below presents the Company’s anticipated repricing of liabilities over the next four quarters.

TABLE 16—REPRICING OF LIABILITIES ⁽¹⁾ 

(Dollars in thousands)	2Q 2017		3Q 2017		4Q 2017		1Q 2018		Total less than one year
Time deposits	$	417,439	$	349,908	$	213,245	$	206,230	$	1,186,822
Short-term borrowings	448,696		—		—		—		448,696
Long-term debt	143,850		5,836		40,729		146,659		337,074
	$	1,009,985	$	355,744	$	253,974	$	352,889	$	1,972,592

⁽¹⁾ Amounts exclude the repricing of liabilities from prior periods.

As part of an overall interest rate risk management strategy, derivative instruments may also be used as an efficient way to modify the repricing or maturity characteristics of on-balance sheet assets and liabilities. Management may from time to time engage in interest rate swaps to effectively manage interest rate risk. The interest rate swaps of the Company would modify net interest sensitivity to levels deemed appropriate.

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IMPACT OF INFLATION OR DEFLATION AND CHANGING PRICES

The unaudited consolidated financial statements and related financial data presented herein have been prepared in accordance with GAAP, which generally require the measurement of financial position and operating results in terms of historical dollars, without considering changes in relative purchasing power over time due to inflation. Unlike most industrial companies, the majority of the Company’s assets and liabilities are monetary in nature. As a result, interest rates generally have a more significant impact on the Company’s performance than does the effect of inflation. Although fluctuations in interest rates are neither completely predictable nor controllable, the Company regularly monitors its interest rate position and oversees its financial risk management by establishing policies and operating limits. Interest rates do not necessarily move in the same direction or in the same magnitude as the prices of goods and services, since such prices are affected by inflation to a larger extent than interest rates. Although not as critical to the banking industry as to other industries, inflationary factors may have some impact on the Company’s growth, earnings, total assets and capital levels. Management does not expect inflation to be a significant factor in 2017.

Conversely, a period of deflation could affect our business, as well as all financial institutions and other industries. Deflation could lead to lower profits, higher unemployment, lower production and deterioration in overall economic conditions. In addition, deflation could depress economic activity, including loan demand and the ability of borrowers to repay loans, and consequently impair earnings through increasing the value of debt while decreasing the value of collateral for loans.

Management believes the most significant potential impact of deflation on financial results relates to the Company's ability to maintain a sufficient amount of capital to cushion against future losses. However, the Company could employ certain risk management tools to maintain its balance sheet strength in the event a deflationary scenario were to develop.

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Non-GAAP Measures

This discussion and analysis included herein contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance. Non-GAAP measures include, but are not limited to, descriptions such as core, tangible, and pre-tax pre-provision. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that, in management’s opinion, can distort period-to-period comparisons of the Company’s performance. Transactions that are typically excluded from non-GAAP performance measures include realized and unrealized gains/losses on former bank owned real estate, realized gains/losses on securities, income tax gains/losses, merger related charges and recoveries, litigation charges and recoveries, and debt repayment penalties. Management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of GAAP to non-GAAP disclosures are presented in Table 17, with the exception of forward-looking information. The Company is unable to estimate GAAP EPS guidance without unreasonable efforts due to the nature of one-time or unusual items that cannot be predicted, and therefore has not provided this information under Regulation S-K Item 10(e)(1)(i)(B).

TABLE 17—RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES

	Three Months Ended
	March 31, 2017									March 31, 2016
(Dollars in thousands, except per share amounts)	Pre-tax			After-tax (1)			Per share (2)			Pre-tax			After-tax (1)			Per share (2)
Net income	$	72,992		$	50,473		$	1.08		$	64,891		$	42,769		$	1.03
Preferred stock dividends	—			(3,599		)	(0.08		)	—			(2,576		)	(0.06		)
Income available to common shareholders (GAAP)	72,992			46,874			1.00			64,891			40,193			0.97
Non-interest income adjustments:
Gain on sale of investments and other non-interest income	(1		)	—			—			(196		)	(127		)	—
Total non-core non-interest income	(1		)	—			—			(196		)	(127		)	—
Non-interest and other expense adjustments:
Merger-related expense	54			35			—			3			2			—
Severance expense	98			63			—			454			295			0.01
Impairment of long-lived assets, net of (gain) loss on sale	1,429			929			0.02			1,044			679			0.01
Other non-core non-interest expense	—			—			—			1,091			709			0.02
Total non-core non-interest expense	1,581			1,027			0.02			2,592			1,685			0.04
Income tax benefits	—			—			—			—			—			—
Core earnings (Non-GAAP)	74,572			47,901			1.02			67,287			41,751			1.01
Provision for loan losses	6,154			4,000			0.09			14,905			9,688			0.24
Core pre-provision earnings (Non-GAAP)	$	80,726		$	51,901		$	1.11		$	82,192		$	51,439		$	1.25

⁽¹⁾  After-tax amounts, excluding preferred stock dividends, are calculated using a tax rate of 35%, which approximates the marginal tax rate.

⁽²⁾  Diluted per share amounts may not appear to foot due to rounding.

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	As of and For the Three Months Ended March 31
(Dollars in thousands)	2017			2016
Net interest income (GAAP)	$	172,818		$	161,403
Add: Effect of tax benefit on interest income	2,491			2,325
Net interest income (TE) (Non-GAAP)	$	175,309		$	163,728
Non-interest income (GAAP)	$	47,346		$	55,845
Add: Effect of tax benefit on non-interest income	706			647
Non-interest income (TE) (Non-GAAP) (1)	48,052			56,492
Taxable equivalent revenues (Non-GAAP) (1)	223,361			220,220
Securities gains and other non-interest income	(1		)	(196		)
Taxable equivalent core revenues (Non-GAAP) (1)	$	223,360		$	220,024
Non-interest expense (GAAP)	$	141,018		$	137,452
Less: Intangible amortization expense	1,770			2,113
Tangible non-interest expense (Non-GAAP) (2)	139,248			135,339
Less: Merger-related expense	54			3
Severance expense	98			454
Loss on sale of long-lived assets, net of impairment	1,429			1,044
Other non-core non-interest expense	—			1,091
Tangible core non-interest expense	$	137,667		$	132,747
Average assets (Non-GAAP)	$	21,861,501		$	19,661,311
Less: Average intangible assets, net	754,723			762,229
Total average tangible assets (Non-GAAP)	$	21,106,778		$	18,899,082
Total shareholders’ equity (GAAP)	$	3,457,975		$	2,547,909
Less: Goodwill and other intangibles	753,991			764,730
Preferred stock	132,097			76,812
Total tangible common shareholders’ equity (Non-GAAP)	$	2,571,887		$	1,706,367
Average shareholders’ equity (GAAP)	$	3,098,964		$	2,530,259
Less: Average preferred equity	132,097			76,812
Average common equity	2,966,867			2,453,447
Less: Average intangible assets, net	754,723			762,229
Average tangible common shareholders’ equity (Non-GAAP)	$	2,212,144		$	1,691,218
Return on average assets (GAAP)	0.94		%	0.87		%
Add: Effect of non-core revenues and expenses	0.02			0.03
Core return on average assets (Non-GAAP)	0.96		%	0.90		%
Return on average common equity (GAAP)	6.41		%	6.59		%
Add: Effect of intangibles	2.39			3.30
Effect of non-core items	0.19			0.37
Core return on average tangible common equity (Non-GAAP)	8.99		%	10.26		%
Efficiency ratio (GAAP)	64.1		%	63.3		%
Less: Effect of tax benefit related to tax-exempt income	1.0			0.9
Efficiency ratio (TE) (Non-GAAP) (1)	63.1		%	62.4		%
Less: Effect of amortization of intangibles	0.8			1.0
Effect of non-core items	0.7			1.1

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Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2)	61.6		%	60.3		%
Total shareholders' equity (GAAP)	$	3,457,975		$	2,547,909
Less: Goodwill and other intangibles	753,991			764,730
Preferred stock	132,097			76,812
Tangible common equity (Non-GAAP) (2)	$	2,571,887		$	1,706,367
Total assets (GAAP)	$	22,008,479		$	20,092,563
Less: Goodwill and other intangibles	753,991			764,730
Tangible assets (Non-GAAP) (2)	$	21,254,488		$	19,327,833
Tangible common equity ratio (Non-GAAP) (2)	12.10		%	8.83		%
Cash Yield:
Earning assets average balance (GAAP)	$	20,085,482		$	17,873,354
Add: Adjustments	86,574			86,010
Earning assets average balance, as adjusted (Non-GAAP)	$	20,172,056		$	17,959,364
Net interest income (GAAP)	$	172,818		$	161,403
Add: Adjustments	(10,716		)	(6,523		)
Net interest income, as adjusted (Non-GAAP)	$	162,102		$	154,880
Yield, as reported	3.53		%	3.68		%
Add: Adjustments	(0.23		)	(0.17		)
Yield, as adjusted (Non-GAAP)	3.30		%	3.51		%

⁽¹⁾ Fully taxable-equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35%, which approximates the marginal tax rate.

⁽²⁾ Tangible calculations eliminate the effect of goodwill and acquisition-related intangibles and the corresponding amortization expense on a tax-effected basis where applicable.

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Glossary of Defined Terms

Term	Definition
ACL	Allowance for credit losses
Acquired loans	Loans acquired in a business combination
AFS	Securities available-for-sale
ALL	Allowance for loan and lease losses
AOCI	Accumulated other comprehensive income (loss)
ASC	Accounting Standards Codification
ASU	Accounting Standards Update
Basel III	Global regulatory standards on bank capital adequacy and liquidity published by the BCBS
BCBS	Basel Committee on Banking Supervision
CDE	IBERIA CDE, LLC
CET1	Common Equity Tier 1 Capital defined by Basel III capital rules
CFPB	Consumer Financial Protection Bureau
Company	IBERIABANK Corporation and Subsidiaries
Dodd-Frank Act	Dodd-Frank Wall Street Reform and Consumer Protection Act
ECL	Expected credit losses
EPS	Earnings per common share
FASB	Financial Accounting Standards Board
FDIC	Federal Deposit Insurance Corporation
FHLB	Federal Home Loan Bank
FOMC	Federal Open Market Committee
FRB	Board of Governors of the Federal Reserve System
GAAP	Accounting principles generally accepted in the United States of America
GSE	Government-sponsored enterprises
HTM	Securities held-to-maturity
IAM	IBERIA Asset Management, Inc.
IBERIABANK	Banking subsidiary of IBERIABANK Corporation
ICP	IBERIA Capital Partners, LLC
IFS	IBERIA Financial Services
IMC	IBERIABANK Mortgage Company
IWA	IBERIA Wealth Advisors
Legacy loans	Loans that were originated directly or otherwise underwritten by the Company
LIBOR	London Interbank Borrowing Offered Rate
LIHTC	Low-income housing tax credit
LTC	Lenders Title Company
MSA	Metropolitan statistical area
Non-GAAP	Financial measures determined by methods other than in accordance with GAAP
NPA	Non-performing asset
OCI	Other comprehensive income
OREO	Other real estate owned
OTTI	Other than temporary impairment
Parent	IBERIABANK Corporation
PCD	Purchased Financial Assets with Credit Deterioration
RRP	Recognition and Retention Plan
RULC	Reserve for unfunded lending commitments

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SBA	Small Business Administration
SEC	Securities and Exchange Commission
TE	Fully taxable equivalent
TDR	Troubled debt restructuring
U.S.	United States of America

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

Quantitative and qualitative disclosures about market risk are presented at December 31, 2016 in Part II, Item 7A of the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 21, 2017. Additional information at March 31, 2017 is included herein under Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.

Item 4. Controls and Procedures

An evaluation of the effectiveness of the Company’s disclosure controls and procedures as of March 31, 2017 was carried out under the supervision, and with the participation of, the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”). Based on that evaluation, the CEO and CFO have concluded that the Company’s disclosure controls and procedures are effective in alerting them in a timely manner to material information required to be disclosed by the Company in reports that it files or submits under the Securities Exchange Act of 1934 (the “Exchange Act”).

Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed by the Company under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and communicated to the Company’s management, including the CEO and the CFO, as appropriate, to allow timely decisions regarding required disclosures. Disclosure controls include review of internal controls that are designed to provide reasonable assurance that transactions are properly authorized, assets are safeguarded against unauthorized or improper use and transactions are properly recorded and reported. There was no significant change in the Company’s internal controls over financial reporting during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the internal control over financial reporting.

Any control system, no matter how well conceived and operated, can provide only reasonable assurance that its objectives are achieved. The design of a control system inherently has limitations, including the controls’ cost relative to their benefits. Additionally, controls can be circumvented. No cost-effective control system can provide absolute assurance that all control issues and instances of fraud, if any, will be detected.

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Part II. Other Information

Item 1. Legal Proceedings

See the "Legal Proceedings" section of "Note 14 – Commitments and Contingencies" of the Notes to the Unaudited Consolidated Financial Statements, incorporated herein by reference.

Item 1A. Risk Factors

For information regarding risk factors that could affect the Company's results of operations, financial condition and liquidity, see the risk factors disclosed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission on February 21, 2017.

The risk factors below relate to the recently announced acquisition of Sabadell United Bank, N.A., which we refer to as "Sabadell," from Banco de Sabadell, S.A., which we refer to as "Banco Sabadell," and are in addition to the risk factors previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2016.

If the proposed acquisition is not completed, the value of our common stock could be materially adversely affected.

The Sabadell Acquisition is subject to customary conditions to closing. In addition, the parties may terminate the Purchase Agreement under certain circumstances. If the Sabadell Acquisition is not completed, the market price of our common stock may be affected. Further, whether or not the Sabadell Acquisition is completed, we will also be obligated to pay certain investment banking, legal and accounting fees and related expenses in connection therewith, which could negatively impact our results of operations when incurred. If the Sabadell Acquisition is not completed, additional risks may materialize that materially adversely affect our business, results of operations and common stock price.

Regulatory approvals may not be received, may take longer than expected or may impose conditions that are not presently anticipated or cannot be met.

Before the Sabadell Acquisition may be completed, various approvals or waivers must be obtained from bank regulatory authorities, including the Federal Reserve and Louisiana Office of Financial Institutions. In determining whether to grant these approvals the regulators consider a variety of factors, including the regulatory standing of each party. An adverse development in either party’s regulatory standing or these factors could result in an inability to obtain approval or delay their receipt. These regulators may impose conditions on the completion of or require changes to the terms of the Sabadell Acquisition. Such conditions or changes and the process of obtaining regulatory approvals or waivers could have the effect of delaying completion of the Sabadell Acquisition or of imposing additional costs or limitations on us following the completion of the Sabadell Acquisition. The regulatory approvals or waivers may not be received at all, may not be received in a timely

fashion or may contain conditions on the completion of the acquisition that are burdensome, not anticipated or cannot be met. If the completion of the Sabadell Acquisition is delayed, including by a delay in receipt of necessary governmental approvals or waivers, each of the Company’s and Sabadell’s business, financial condition and results of operations may be materially adversely affected.

Termination of the proposed acquisition could negatively impact the Company's prospects.

If the proposed acquisition with Sabadell is terminated, there may be various adverse consequences to the Company. For example, the Company may have failed to pursue other beneficial opportunities due to the focus of management on the merger with Sabadell, and there can be no assurances that the Company would be successful in competing with other financial institutions for other potential acquisition candidates.

The Company will be subject to business uncertainties while the Sabadell Acquisition is pending.

Uncertainty about the effect of the Sabadell Acquisition on employees and customers may have an adverse effect on Sabadell and consequently on the Company. These uncertainties may impair Sabadell’s ability to attract, retain and motivate key personnel until the Sabadell Acquisition is completed, and could cause customers and others that deal with Sabadell to seek to change existing business relationships with Sabadell. Retention of certain employees may be challenging during the pendency of the Sabadell Acquisition, as employees may experience uncertainty about their future roles with the Company. If key employees depart because of issues relating to the uncertainty and difficulty of integration or a desire not to remain with the Company, the Company’s business following the Sabadell Acquisition could be impacted.

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We may be unable to successfully integrate Sabadell’s operations and retain its key employees.

We and Sabadell have operated and, until the completion of the Sabadell Acquisition, will continue to operate, independently. It is possible that the integration process could result in the loss of key employees, the disruption of either company’s ongoing businesses or inconsistencies in standards, controls, procedures and policies that could adversely affect our ability to maintain relationships with Sabadell’s customers, depositors and employees and our ability to achieve the anticipated benefits of the acquisitions. Integration efforts between the Company and Sabadell will also divert management attention and resources. These integration matters could have an adverse effect on the Company and Sabadell during the transition period and on the combined company after the completion of the proposed acquisition, and no assurance can be given that the operation of the combined company will not adversely affect our existing profitability, that we will be able to achieve results in the future similar to those achieved by our existing banking business, or that we will be able to manage any growth resulting from the Sabadell Acquisition effectively.

We may fail to realize all of the anticipated benefits of the Sabadell Acquisition.

The success of the proposed acquisition will depend, in part, on our ability to realize the anticipated benefits and cost savings from combining our business with the business of Sabadell. However, to realize these anticipated benefits and cost savings, we must successfully combine the businesses. If we are not able to achieve these objectives, the anticipated benefits and cost savings of the Sabadell Acquisition may not be realized fully or at all or may take longer to realize than expected.

We will incur significant transaction and acquisition-related integration costs in connection with the Sabadell Acquisition.

We expect to incur significant costs associated with completing the Sabadell Acquisition and integrating Sabadell’s operations, and are continuing to assess the impact of these costs. Although we believe that the elimination of duplicate costs, as well as the realization of other efficiencies related to the integration of Sabadell’s business, will offset incremental transaction and merger-related costs over time, this net benefit may not be achieved in the near term, or at all. If the proposed acquisition is not completed, these expenses will still be charged to earnings even though the Company would not have realized the expected benefits of the merger.

The market price of our common stock after the completion of the Sabadell Acquisition may be affected by factors different from those currently affecting our shares.

The businesses and current markets of the Company and Sabadell differ and, accordingly, the results of operations of the Company and the market price of our common stock after the Sabadell Acquisition may be affected by factors different from those currently affecting our independent results. For example, while the Company currently operates primarily in eight states (Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia and South Carolina), Sabadell’s operations are concentrated in Florida, with all of Sabadell’s branch and loan production offices being in Florida and approximately 95% of its deposits originating in the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area. After giving effect to the Sabadell Acquisition, Florida will become the Company’s largest state by deposits. Changes in geographic concentration, loan mix and client base present different risks. The success of the proposed acquisition will depend, in part, on our ability to manage those risks.

79

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Information concerning Iberiabank Corporation's repurchases of its outstanding common stock during the three-month period ended March 31, 2017, is included in the following table:

Issuer Purchases of Equity Securities

Period	Total Number of Shares Purchased	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
January 1-31, 2017	—	—	—	747,494
February 1-28, 2017	—	—	—	747,494
March 1-31, 2017	—	—	—	747,494
Total	—	—	—	747,494

On May 4, 2016, IBERIABANK Corporation's Board of Directors authorized the repurchase of up to 950,000 shares of the Company's outstanding common stock. Stock repurchases under this program will be made from time to time, on the open market or in privately negotiated transactions. The timing of these repurchases will depend on market conditions and other requirements. The Company anticipates the share repurchase program will extend over a two-year time frame, or earlier if the shares have been repurchased. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time.

Restrictions on Dividends and Repurchase of Stock

Holders of IBERIABANK Corporation common stock are only entitled to receive such dividends as the Company's Board of Directors may declare out of funds legally available for such payments. Furthermore, holders of IBERIABANK Corporation common stock are subject to the prior dividend rights of any holders of the Company's preferred stock then outstanding. There were 13,750 shares of preferred stock outstanding at March 31, 2017.

IBERIABANK Corporation understands the importance of returning capital to shareholders. Management will continue to execute the capital planning process, including evaluation of the amount of the common stock dividend, with the Board of Directors and in conjunction with the regulators, subject to the Company's results of operations. Also, IBERIABANK Corporation is a bank holding company, and its ability to declare and pay dividends is dependent on certain federal regulatory considerations, including the guidelines of the Federal Reserve regarding capital adequacy and dividends.

Item 3. Defaults Upon Senior Securities

Not Applicable.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

80

Item 6. Exhibits

Exhibit No. 31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit No. 31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit No. 32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit No. 32.2	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit No. 101.INS	XBRL Instance Document.
Exhibit No. 101.SCH	XBRL Taxonomy Extension Schema.
Exhibit No. 101.CAL	XBRL Taxonomy Extension Calculation Linkbase.
Exhibit No. 101.DEF	XBRL Taxonomy Extension Definition Linkbase.
Exhibit No. 101.LAB	XBRL Taxonomy Extension Label Linkbase.
Exhibit No. 101.PRE	XBRL Taxonomy Extension Presentation Linkbase.

81

SIGNATURES

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.

	IBERIABANK Corporation
Date: May 5, 2017	By:	/s/ Daryl G. Byrd
	Daryl G. Byrd
	President and Chief Executive Officer
Date: May 5, 2017	By:	/s/ Anthony J. Restel
	Anthony J. Restel
	Senior Executive Vice President and Chief Financial Officer

82

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

SECTION 302 CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

I, Daryl G. Byrd, President and Chief Executive Officer of IBERIABANK Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of IBERIABANK Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	May 5, 2017	/s/ Daryl G. Byrd
		Daryl G. Byrd
		President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATIONS

SECTION 302 CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

I, Anthony J. Restel, Senior Executive Vice President and Chief Financial Officer of IBERIABANK Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of IBERIABANK Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	May 5, 2017	/s/ Anthony J. Restel
		Anthony J. Restel
		Senior Executive Vice President and Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of IBERIABANK Corporation (the “Company”) on Form 10-Q for the period ended March 31, 2017 (the “Report”), I, Daryl G. Byrd, President and Chief Executive Officer of the Company, certify that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the periods covered in the Report.

/s/ Daryl G. Byrd

Daryl G. Byrd

President and Chief Executive Officer

May 5, 2017

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. The information furnished herein shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of IBERIABANK Corporation (the “Company”) on Form 10-Q for the period ended March 31, 2017 (the “Report”), I, Anthony J. Restel, Senior Executive Vice President and Chief Financial Officer of the Company, certify that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the periods covered in the Report.

/s/ Anthony J. Restel

Anthony J. Restel

Senior Executive Vice President and Chief Financial Officer

May 5, 2017

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. The information furnished herein shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

XML

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Trading Symbol	IBKC
Entity Registrant Name	IBERIABANK CORP
Entity Central Index Key	0000933141
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		50,966,193

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and due from banks	$ 276,979	$ 295,896
Interest-bearing deposits in banks	1,024,139	1,066,230
Total cash and cash equivalents	1,301,118	1,362,126
Securities available for sale, at fair value	3,823,953	3,446,097
Securities held to maturity (fair values of $86,813 and $89,932, respectively)	86,018	89,216
Mortgage loans held for sale, at fair value	122,333	157,041
Loans, net of unearned income	15,132,202	15,064,971
Allowance for loan losses	(144,890)	(144,719)
Loans, net	14,987,312	14,920,252
Premises and equipment, net	303,978	306,373
Goodwill	726,856	726,856
Other assets	656,911	651,229
Total Assets	22,008,479	21,659,190
Deposits:
Non-interest-bearing	5,031,583	4,928,878
Interest-bearing	12,280,682	12,479,405
Total deposits	17,312,265	17,408,283
Short-term borrowings	448,696	509,136
Long-term debt	628,085	628,953
Other liabilities	161,458	173,124
Total Liabilities	18,550,504	18,719,496
Shareholders’ Equity
Carrying Amount	132,097	132,097
Common stock, $1 par value - 100,000,000 shares authorized; 50,969,908 and 44,795,386 shares issued and outstanding, respectively	50,970	44,795
Additional paid-in capital	2,563,335	2,084,446
Retained earnings	732,994	704,391
Accumulated other comprehensive income (loss)	(21,421)	(26,035)
Total Shareholders’ Equity	3,457,975	2,939,694
Total Liabilities and Shareholders’ Equity	$ 22,008,479	$ 21,659,190

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Securities held to maturity, fair values	$ 86,813	$ 89,932
Preferred stock, par value (in usd per share)		$ 1
Preferred stock, shares authorized		5,000,000
Liquidation preference (per share)		$ 10,000
Preferred stock, shares issued		13,750
Preferred stock, shares outstanding		13,750
Common stock, par value (in usd per share)		$ 1
Common stock, shares authorized		100,000,000
Common stock, shares issued	50,969,908	44,795,386
Common stock, shares outstanding	50,969,908	44,795,386

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Interest and Dividend Income
Loans, including fees	$ 168,976	$ 163,991
Mortgage loans held for sale, including fees	971	1,401
Investment securities:
Taxable interest	17,864	13,548
Tax-exempt interest	2,063	1,664
Amortization of FDIC loss share receivable	0	(4,386)
Other	2,659	718
Total interest and dividend income	192,533	176,936
Deposits:
NOW and MMDA	11,100	7,358
Savings	320	222
Time deposits	4,638	4,354
Short-term borrowings	277	485
Long-term debt	3,380	3,114
Total interest expense	19,715	15,533
Net interest income	172,818	161,403
Provision for loan losses	6,154	14,905
Net interest income after provision for loan losses	166,664	146,498
Non-interest Income
Mortgage income	14,115	19,940
Service charges on deposit accounts	11,153	10,951
Title revenue	4,741	4,745
Broker commissions	2,738	3,823
ATM/debit card fee income	3,585	3,503
Credit card and merchant-related income	3,227	2,655
Income from bank owned life insurance	1,311	1,202
Gain on sale of available for sale securities	0	196
Other non-interest income	6,476	8,830
Total non-interest income	47,346	55,845
Non-interest Expense
Salaries and employee benefits	81,853	80,742
Net occupancy and equipment	16,021	16,907
Communication and delivery	3,044	3,059
Marketing and business development	3,424	3,502
Data processing	6,941	5,918
Professional services	5,335	3,780
Credit and other loan related expense	4,526	2,671
Insurance	4,529	4,184
Travel and entertainment	2,484	2,383
Other non-interest expense	12,861	14,306
Total non-interest expense	141,018	137,452
Income before income tax expense	72,992	64,891
Income tax expense	22,519	22,122
Net Income	50,473	42,769
Preferred stock dividends	(3,599)	(2,576)
Net Income Available to Common Shareholders	46,874	40,193
Earnings allocated to unvested restricted stock	(346)	(460)
Earnings allocated to common shareholders	$ 46,528	$ 39,733
Earnings per common share - Basic (in usd per share)	$ 1.01	$ 0.98
Earnings per common share - Diluted (in usd per share)	1.00	0.97
Cash dividends declared per common share (in usd per share)	$ 0.36	$ 0.34
Comprehensive Income
Net income	$ 50,473	$ 42,769
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) arising during the period (net of tax effects of $2,421 and $13,702, respectively)	4,496	25,447
Reclassification adjustment for gains included in net income (net of tax effects of $0 and $69, respectively)	0	(127)
Unrealized gains (losses) on securities, net of tax	4,496	25,320
Fair value of derivative instruments designated as cash flow hedges:
Change in fair value of derivative instruments designated as cash flow hedges during the period (net of tax effects of $88 and $2,223, respectively)	163	(4,127)
Reclassification adjustment for gains included in net income (net of tax effects of $24 and $0, respectively)	(45)	0
Fair value of derivative instruments designated as cash flow hedges, net of tax	118	(4,127)
Other comprehensive income (loss), net of tax	4,614	21,193
Comprehensive income	$ 55,087	$ 63,962

XML

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Unrealized holding gains (losses), taxes	$ 2,421	$ 13,702
Reclassification adjustment for gains included in net income , taxes	0	69
Change in fair value of derivative instruments designated as cash flow hedges, taxes	88	2,223
Reclassification adjustment for losses included in net income, taxes	$ 24	$ 0

XML

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2015		8,000	41,139,537
Beginning balance at Dec. 31, 2015	$ 2,498,835	$ 76,812	$ 41,140	$ 1,797,982	$ 584,486	$ (1,585)
Increase (Decrease) in Shareholders' Equity
Net income	42,769				42,769
Other comprehensive income/(loss)	21,193					21,193
Cash dividends declared	(14,019)				(14,019)
Preferred stock dividends	(2,576)				(2,576)
Common stock issued under incentive plans, net of shares surrendered in payment, including tax benefit (in shares)			92,323
Common stock issued under incentive plans, net of shares surrendered in payment, including tax benefit	(2,163)		$ 92	(2,255)
Preferred stock dividends				0
Share-based compensation cost	3,870			3,870
Ending balance (in shares) at Mar. 31, 2016		8,000	41,231,860
Ending balance at Mar. 31, 2016	2,547,909	$ 76,812	$ 41,232	1,799,597	610,660	19,608
Beginning balance (in shares) at Dec. 31, 2016		13,750	44,795,386
Beginning balance at Dec. 31, 2016	2,939,694	$ 132,097	$ 44,795	2,084,446	704,391	(26,035)
Increase (Decrease) in Shareholders' Equity
Net income	50,473				50,473
Other comprehensive income/(loss)	4,614					4,614
Cash dividends declared	(18,271)				(18,271)
Preferred stock dividends	(3,599)				(3,599)
Common stock issued under incentive plans, net of shares surrendered in payment, including tax benefit (in shares)			74,522
Common stock issued under incentive plans, net of shares surrendered in payment, including tax benefit	(3,851)		$ 75	(3,926)
Shares issued (in shares)			6,100,000
Common stock issued	485,194		$ 6,100	479,094
Share-based compensation cost	3,721			3,721
Ending balance (in shares) at Mar. 31, 2017		13,750	50,969,908
Ending balance at Mar. 31, 2017	$ 3,457,975	$ 132,097	$ 50,970	$ 2,563,335	$ 732,994	$ (21,421)
Stock Repurchase Program, Remaining Authorized Repurchase Amount	747,494

XML

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash dividends declared per common share (in usd per share)	$ 0.36	$ 0.34
Retained Earnings
Cash dividends declared per common share (in usd per share)	$ 0.36	$ 0.34

XML

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities
Net income	$ 50,473	$ 42,769
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and accretion	2,199	1,103
Amortization Of Purchase Accounting And Market Value Adjustments	(6,958)	(2,695)
Provision for loan losses	6,154	14,905
Share-based compensation cost - equity awards	3,721	3,870
(Gain)/loss on sale of assets, net	54	3
(Gain)/loss on sale of available for sale securities	0	(196)
(Gain)/loss on sale of OREO, net	(800)	(3,534)
Amortization of premium/discount on securities, net	6,405	4,871
Unrealized Gain (Loss) on Derivatives	(69)	0
(Benefit) expense for deferred income taxes	(10,565)	(4,698)
Originations of mortgage loans held for sale	(393,924)	(517,661)
Proceeds from sales of mortgage loans held for sale	440,337	507,372
Realized and unrealized (gain)/loss on mortgage loans held for sale, net	(13,689)	(19,668)
Other operating activities, net	(20,864)	16,730
Net Cash Provided by Operating Activities	62,474	43,171
Cash Flows from Investing Activities
Proceeds from sales of available for sale securities	0	49,531
Proceeds from maturities, prepayments and calls of available for sale securities	113,940	98,439
Purchases of available for sale securities	(491,055)	(68,609)
Proceeds from maturities, prepayments and calls of held to maturity securities	2,968	2,589
Purchases of held to maturity securities	0	0
Purchases of equity securities	(200)	(21,569)
Increase in loans, net of loans acquired	(60,609)	(114,232)
Proceeds from sale of premises and equipment	7	1,158
Purchases of premises and equipment, net of premises and equipment acquired	(2,761)	(4,600)
Proceeds from disposition of OREO	4,374	13,240
Cash paid for investment in tax credit entities	(795)	(5,617)
Other investing activities, net	6,327	(770)
Net Cash Used in Investing Activities	(427,804)	(50,440)
Cash Flows from Financing Activities
Increase/(decrease) in deposits, net of deposits acquired	(95,916)	81,931
Net change in short-term borrowings, net of borrowings acquired	(60,440)	171,621
Proceeds from long-term debt	0	260,000
Repayments of long-term debt	(622)	(1,168)
Cash dividends paid on common stock	(16,126)	(13,988)
Cash dividends paid on preferred stock	(3,599)	(2,576)
Net share-based compensation stock transactions	(4,169)	17
Payments to repurchase common stock	0	(2,180)
Net proceeds from issuance of common stock	485,194	0
Net proceeds from issuance of preferred stock	0	0
Net Cash Provided by Financing Activities	304,322	493,657
Net Increase (Decrease) In Cash and Cash Equivalents	(61,008)	486,388
Cash and Cash Equivalents at Beginning of Period	1,362,126	510,267
Cash and Cash Equivalents at End of Period	1,301,118	996,655
Supplemental Schedule of Non-cash Activities
Acquisition of real estate in settlement of loans	2,733	1,937
Common stock issued in acquisition	0	0
Cash paid for:
Interest on deposits and borrowings	19,850	14,703
Income taxes, net	$ 39,609	$ 4,150

XML

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

General

The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for a fair presentation of the consolidated financial statements have been made. These interim financial statements should be read in conjunction with the audited consolidated financial statements and footnote disclosures for the Company previously filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Operating results for the period ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

When we refer to the “Company,” “we,” “our,” or “us” in this Report, we mean IBERIABANK Corporation and subsidiaries (consolidated). When we refer to the “Parent,” we mean IBERIABANK Corporation. See the Glossary of Acronyms at the end of this Report for terms used throughout this Report.

Principles of Consolidation

The Company’s consolidated financial statements include all entities in which the Company has a controlling financial interest under either the voting interest or variable interest model. The assessment of whether or not the Company has a controlling interest (i.e., the primary beneficiary) in a variable interest entity ("VIE") is performed on an on-going basis. All equity investments in non-consolidated VIEs are included in "other assets" in the Company’s consolidated balance sheets. The Company’s maximum exposure to loss as a result of its involvement with non-consolidated VIEs was approximately $92 million and $91 million at March 31, 2017 and December 31, 2016, respectively. The Company's maximum exposure to loss was equivalent to the carrying value of its investments and any related outstanding loans to the non-consolidated VIEs.

Investments in entities that are not consolidated are accounted for under either the equity, cost, or proportional amortization method of accounting. Investments for which the Company has the ability to exercise significant influence over the operating and financing decisions of the entity are accounted for under the equity method. Investments for which the Company does not hold such ability are accounted for under the cost method. Investments in qualified affordable housing projects, which meet certain criteria, are accounted for under the proportional amortization method.

The consolidated financial statements include the accounts of the Company and its subsidiaries, IBERIABANK; Lenders Title Company; IBERIA Capital Partners, LLC; 1887 Leasing, LLC; IBERIA Asset Management, Inc.; 840 Denning, LLC; and IBERIA CDE, LLC. Effective January 1, 2017, IBERIABANK Mortgage Company, previously a subsidiary of IBERIABANK, merged into IBERIABANK. All significant intercompany balances and transactions have been eliminated in consolidation. All normal, recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the financial statements have been included.

Nature of Operations

The Company offers commercial and retail banking products and services to customers throughout locations in eight states through IBERIABANK. The Company also operates mortgage production offices in 10 states and offers a full line of title insurance and closing services throughout Arkansas and Louisiana through LTC and its subsidiaries. ICP provides equity research, institutional sales and trading, and corporate finance services throughout the energy industry. 1887 Leasing, LLC owns an aircraft used by management of the Company. IAM provides wealth management and trust services for commercial and private banking clients. CDE is engaged in the purchase of tax credits.

Reclassifications

Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. These reclassifications did not have a material effect on previously reported consolidated financial statements.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are susceptible to significant change in the near term are the allowance for credit losses, valuation of and accounting for acquired loans, goodwill and other intangibles, and income taxes.

Concentrations of Credit Risk

Most of the Company’s business activity is with customers located in the southeastern United States. The Company’s lending activity is concentrated in its market areas in those states. The Company has emphasized originations of commercial loans and private banking loans, defined as loans to higher net worth clients. Repayments on loans are expected to come from cash flows of the borrower and/or guarantor. Losses on secured loans are limited by the net realizable value of the collateral upon default of the borrowers and guarantor support. Concentrations in commercial real estate have increased as a result of the Company's organic growth and recent acquisitions of banks with significant CRE portfolios. Additionally, as the Company has executed its risk-off strategy over the past two years, CRE concentrations have naturally increased as a percentage of the total portfolio. The Company does not have any excessive concentrations to any one industry or customer.

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Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2017

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements

RECENT ACCOUNTING PRONOUNCEMENTS

Pronouncements adopted during the quarter ended March 31, 2017:

ASU No. 2016-09

In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments require recognition of excess tax benefits and deficiencies associated with awards which vest or settle within income tax expense or benefit in the statement of comprehensive income, with the tax effects treated as discrete items in the reporting period in which they occur. The ASU further requires entities to recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period, which eliminates the APIC pool concept. The ASU also requires entities to exclude excess tax benefits and deficiencies from assumed proceeds when applying the treasury stock method to share-based payment awards to determine their dilutive effect on EPS; allows an accounting policy election to account for forfeitures as they occur; permits an entity to withhold up to the maximum statutory tax rates in the applicable jurisdictions while still qualifying for equity classification; and changes the classification of certain cash flows associated with stock compensation.

The Company adopted the amendments effective January 1, 2017 as follows: (i) prospective adoption of the recognition of excess tax benefits associated with awards which vested or settled during the quarter ended March 31, 2017 in the statement of comprehensive income; (ii) prospective adoption of the exclusion of excess tax benefits from assumed proceeds for the calculation of diluted EPS for the quarter ended March 31, 2017; (iii) modified retrospective adoption of the minimum statutory withholdings requirements; (iv) modified retrospective adoption of the accounting policy election to account for forfeitures as they occur; and (v) prospective adoption of the classifications of certain cash flows associated with stock compensation. The adoption of these amendments did not, either individually or in aggregate, have a significant impact to the consolidated financial statements.

ASU No. 2017-01

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which introduces amendments that are intended to clarify the definition of a business to assist companies and other reporting organizations in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments are intended to narrow the current interpretation of a business.

ASU No. 2017-01 will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those periods. The amendments will be applied prospectively on or after the effective date. Early application of the amendments is allowed for transactions, including when a subsidiary or group of assets is deconsolidated/derecognized, in which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance.

The Company adopted the amendments effective January 1, 2017. The adoption of this ASU did not and is not expected to have a significant impact on the Company’s consolidated financial statements.

Pronouncements issued but not yet adopted:

ASU No. 2014-09

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which implements a common revenue standard and clarifies the principles used for recognizing revenue. The amendments in the ASU clarify that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The amendments in ASU No. 2014-09 will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that annual reporting period. The amendments will be applied through the election of one of two retrospective methods.

The Company intends to adopt the amendments beginning January 1, 2018 through the modified-retrospective transition method. Based on the Company’s preliminary scoping, walkthroughs, and contract reviews, it does not expect to recognize a significant cumulative adjustment to equity upon implementation of the standard. Further, the Company does not expect a significant impact to the Company’s consolidated statements of comprehensive income or consolidated balance sheets from either a presentation or timing perspective, but is still analyzing some contracts (e.g., card interchange and rewards).  The Company does anticipate additional disclosures will be presented in the notes to the consolidated financial statements following adoption. 

ASU No. 2016-01

In January 2016, the FASB issued ASU No. 2016-01, Financial Statements - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments will not change the guidance for classifying and measuring investments in debt securities or loans; however, the ASU will impact how the Company measures certain equity investments and discloses and presents certain financial instruments through the application of the “exit price” notion.

ASU No. 2016-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. An entity will record a cumulative-effect adjustment to beginning retained earnings as of the beginning of the first reporting period in which the guidance is adopted, with two exceptions. The amendments related to equity investments without readily determinable fair values (including disclosure requirements) will be applied prospectively. The requirement to use the “exit price” notion to measure the fair value of financial instruments for disclosure purposes will also be applied prospectively.

The Company does not expect a significant cumulative-effect adjustment to be recorded at adoption or any significant impact to the consolidated financial statements associated with the accounting for its current equity investments. The Company does anticipate financial statement disclosures to be impacted, specifically related to financial instruments measured at amortized cost whose fair values are disclosed under the “entry price” notion, but is currently still in the process of determining the impact.

ASU No. 2016-02

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The most significant amendment to existing GAAP is the recognition of lease assets (i.e., right of use assets) and liabilities on the balance sheet for leases that are classified as operating leases by lessees. The lessor model remains similar to the current accounting model in existing GAAP. Additional amendments include, but are not limited to, the elimination of leveraged leases; modification to the definition of a lease; amendments on sale and leaseback transactions; and disclosure of additional quantitative and qualitative information.

ASU 2016-02 will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company anticipates adopting the amendments on January 1, 2019. The Company is currently assessing the practical expedients it may elect at adoption, but does not anticipate the amendments will have a significant impact to the consolidated financial statements. Based on the Company’s preliminary analysis of its current portfolio, the impact to the Company’s consolidated balance sheets is estimated to result in less than a 1% increase in assets and liabilities. The adjustment to retained earnings is not expected to be significant based on the transition guidance associated with current sale-leaseback agreements. The Company also anticipates additional disclosures to be provided at adoption.

ASU No. 2016-13

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments introduce an impairment model that is based on expected credit losses (“ECL”), rather than incurred losses, to estimate credit losses on certain types of financial instruments (e.g., loans and held-to-maturity securities), including certain off-balance sheet financial instruments (e.g., loan commitments). The ECL should consider historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments, over the contractual term. Financial instruments with similar risk characteristics may be grouped together when estimating the ECL.

The ASU also amends the current AFS security impairment model for debt securities. The new model will require an estimate of ECL when the fair value is below the amortized cost of the asset through the use of an allowance to record estimated credit losses (and subsequent recoveries). Non-credit related losses will continue to be recognized through OCI.

In addition, the amendments provide for a simplified accounting model for purchased financial assets with a more-than-insignificant amount of credit deterioration since their origination. The initial estimate of expected credit losses would be recognized through an ALL with an offset (i.e., increase) to the cost basis of the related financial asset at acquisition.

ASU 2016-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods. The amendments will be applied through a modified-retrospective approach, resulting in a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. A prospective transition approach is required for debt securities for which OTTI had been recognized before the effective date. Amounts previously recognized in AOCI as of the date of adoption that relate to improvements in cash flows expected to be collected should continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption should be recorded in earnings when received.

The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements.

ASU No. 2017-04

In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test.  Therefore, any carrying amount which exceeds the reporting unit’s fair value (up to the amount of goodwill recorded) will be recognized as an impairment loss.

ASU No. 2017-04 will be effective for annual reporting periods beginning after December 15, 2019, including interim reporting periods within those periods.  The amendments will be applied prospectively on or after the effective date.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.  Based on recent goodwill impairments tests, which did not require the application of Step 2, the Company does not expect the adoption of this ASU to have an immediate impact.

ASU No. 2017-08

In March 2017, the FASB issued ASU No. 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities, which will shorten the amortization period for callable debt securities held at a premium to the earliest call date instead of the maturity date. The amendments do not require an accounting change for securities held at a discount, which will continue to be amortized to the maturity date.

ASU No. 2017-08 will be effective for annual reporting periods beginning after December 15, 2018, including interim reporting periods within those periods. The amendments should be applied using a modified-retrospective transition method as of the beginning of the period of adoption. Early adoption is permitted, including adoption in an interim period. The adoption of the ASU will not have a significant impact to the Company based on its current investment portfolio.

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Investment Securities

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Investment Securities

INVESTMENT SECURITIES

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:

	March 31, 2017
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,430	$	199	$	(463	)	$	212,166
Obligations of state and political subdivisions	297,712		3,190		(3,812		)	297,090
Mortgage-backed securities	3,238,530		4,937		(37,505		)	3,205,962
Other securities	108,541		455		(261		)	108,735
Total securities available for sale	$	3,857,213	$	8,781	$	(42,041	)	$	3,823,953
Securities held to maturity:
Obligations of state and political subdivisions	$	62,315	$	1,682	$	(99	)	$	63,898
Mortgage-backed securities	23,703		55		(843		)	22,915
Total securities held to maturity	$	86,018	$	1,737	$	(942	)	$	86,813

	December 31, 2016
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,662	$	245	$	(549	)	$	212,358
Obligations of state and political subdivisions	286,458		1,948		(5,207		)	283,199
Mortgage-backed securities	2,888,180		4,820		(41,291		)	2,851,709
Other securities	98,974		361		(504		)	98,831
Total securities available for sale	$	3,486,274	$	7,374	$	(47,551	)	$	3,446,097
Securities held to maturity:
Obligations of state and political subdivisions	$	64,726	$	1,609	$	(133	)	$	66,202
Mortgage-backed securities	24,490		57		(817		)	23,730
Total securities held to maturity	$	89,216	$	1,666	$	(950	)	$	89,932

Securities with carrying values of $1.6 billion and $1.5 billion were pledged to secure public deposits and other borrowings at March 31, 2017 and December 31, 2016, respectively.

Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows:

	March 31, 2017
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(463	)	$	150,412	$	—		$	—	$	(463	)	$	150,412
Obligations of state and political subdivisions	(3,812		)	101,543		—			—		(3,812		)	101,543
Mortgage-backed securities	(35,221		)	2,349,545		(2,284		)	94,005		(37,505		)	2,443,550
Other Securities	(212		)	42,955		(49		)	3,614		(261		)	46,569
Total securities available for sale	$	(39,708	)	$	2,644,455	$	(2,333	)	$	97,619	$	(42,041	)	$	2,742,074
Securities held to maturity:
Obligations of state and political subdivisions	$	(99	)	$	4,986	$	—		$	—	$	(99	)	$	4,986
Mortgage-backed securities	(358		)	12,093		(485		)	10,366		(843		)	22,459
Total securities held to maturity	$	(457	)	$	17,079	$	(485	)	$	10,366	$	(942	)	$	27,445

	December 31, 2016
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(549	)	$	150,554	$	—		$	—	$	(549	)	$	150,554
Obligations of state and political subdivisions	(5,207		)	148,059		—			—		(5,207		)	148,059
Mortgage-backed securities	(38,667		)	2,191,563		(2,624		)	98,912		(41,291		)	2,290,475
Other Securities	(451		)	36,484		(53		)	3,850		(504		)	40,334
Total securities available for sale	$	(44,874	)	$	2,526,660	$	(2,677	)	$	102,762	$	(47,551	)	$	2,629,422
Securities held to maturity:
Obligations of state and political subdivisions	$	(133	)	$	10,602	$	—		$	—	$	(133	)	$	10,602
Mortgage-backed securities	(330		)	12,288		(487		)	10,960		(817		)	23,248
Total securities held to maturity	$	(463	)	$	22,890	$	(487	)	$	10,960	$	(950	)	$	33,850

The Company assessed the nature of the unrealized losses in its portfolio as of March 31, 2017 and December 31, 2016 to determine if there are losses that should be deemed other-than-temporary. In its analysis of these securities, management considered numerous factors to determine whether there were instances where the amortized cost basis of the debt securities would not be fully recoverable, including, but not limited to:

• The length of time and extent to which the estimated fair value of the securities was less than their amortized cost;

• Whether adverse conditions were present in the operations, geographic area, or industry of the issuer;

• The payment structure of the security, including scheduled interest and principal payments, including the issuer’s failures to make scheduled payments, if any, and the likelihood of failure to make scheduled payments in the future;

• Changes to the rating of the security by a rating agency; and

• Subsequent recoveries or additional declines in fair value after the balance sheet date.

Management believes it has considered these factors, as well as all relevant information available, when determining the expected future cash flows of the securities in question. In each instance, management has determined the cost basis of the securities would be fully recoverable. Management also has the intent to hold debt securities until their maturity or anticipated recovery if the security is classified as available for sale. In addition, management does not believe the Company will be required to sell debt securities before the anticipated recovery of the amortized cost basis of the security. As a result of the Company's analysis, no declines in the estimated fair value of the Company's investment securities were deemed to be other-than-temporary at March 31, 2017 or December 31, 2016.

At March 31, 2017, 393 debt securities had unrealized losses of 1.53% of the securities’ amortized cost basis. At December 31, 2016, 397 debt securities had unrealized losses of 1.79% of the securities’ amortized cost basis. The unrealized losses for each of the securities related to market interest rate changes and not credit concerns of the issuers. Additional information on securities that have been in a continuous loss position for over twelve months at March 31, 2017 and December 31, 2016 is presented in the following table.

(Dollars in thousands)	March 31, 2017		December 31, 2016
Number of securities:
Issued by U.S. Government-sponsored enterprises	28		28
Issued by political subdivisions	—		—
Other	3		3
	31		31
Amortized Cost Basis:
Issued by U.S. Government-sponsored enterprises	$	107,140	$	112,983
Issued by political subdivisions	—		—
Other	3,663		3,903
	$	110,803	$	116,886
Unrealized Loss:
Issued by U.S. Government-sponsored enterprises	$	2,769	$	3,111
Issued by political subdivisions	—		—
Other	49		53
	$	2,818	$	3,164

The Fannie Mae, Freddie Mac, and Ginnie Mae securities are rated AA+ by S&P and Aaa by Moodys.

The amortized cost and estimated fair value of investment securities by maturity at March 31, 2017 are presented in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Weighted average yields are calculated on the basis of the yield to maturity based on the amortized cost of each security.

	Securities Available for Sale						Securities Held to Maturity
(Dollars in thousands)	Weighted Average Yield		Amortized Cost		Estimated Fair Value		Weighted Average Yield		Amortized Cost		Estimated Fair Value
Within one year or less	1.74	%	$	27,692	$	27,625	2.87	%	$	1,896	$	1,907
One through five years	1.67		283,137		283,609		2.90		8,274		8,454
After five through ten years	2.32		789,829		786,876		3.08		22,252		22,852
Over ten years	2.26		2,756,555		2,725,843		2.83		53,596		53,600
	2.22	%	$	3,857,213	$	3,823,953	2.91	%	$	86,018	$	86,813

The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method.

	Three Months Ended March 31
(Dollars in thousands)	2017		2016
Realized gains	$	—	$	462
Realized losses	—		(266		)
	$	—	$	196

In addition to the gains above, the Company realized certain gains on calls of securities held to maturity that were not significant to the consolidated financial statements.

Other Equity Securities

The Company accounts for the following securities at amortized cost, which approximates fair value, in “other assets” on the consolidated balance sheets:

(Dollars in thousands)	March 31, 2017		December 31, 2016
Federal Home Loan Bank (FHLB) stock	$	37,415	$	42,326
Federal Reserve Bank (FRB) stock	48,584		48,584
Other investments	3,008		2,808
	$	89,007	$	93,718

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Loans

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Loans

LOANS

Loans consist of the following, segregated into legacy and acquired loans, for the periods indicated:

	March 31, 2017
(Dollars in thousands)	Legacy Loans		Acquired Loans		Total
Commercial loans:
Real estate	$	5,878,509	$	1,099,365	$	6,977,874
Commercial and industrial	3,140,205		315,373		3,455,578
Energy-related	562,515		1,108		563,623
	9,581,229		1,415,846		10,997,075
Residential mortgage loans:	901,859		394,499		1,296,358
Consumer and other loans:
Home equity	1,797,123		349,673		2,146,796
Indirect automobile	110,174		26		110,200
Other	533,059		48,714		581,773
	2,440,356		398,413		2,838,769
Total	$	12,923,444	$	2,208,758	$	15,132,202

	December 31, 2016
(Dollars in thousands)	Legacy Loans		Acquired Loans		Total
Commercial loans:
Real estate	$	5,623,314	$	1,178,952	$	6,802,266
Commercial and industrial	3,194,796		348,326		3,543,122
Energy-related	559,289		1,904		561,193
	9,377,399		1,529,182		10,906,581
Residential mortgage loans:	854,216		413,184		1,267,400
Consumer and other loans:
Home equity	1,783,421		372,505		2,155,926
Indirect automobile	131,048		4		131,052
Other	548,840		55,172		604,012
	2,463,309		427,681		2,890,990
Total	$	12,694,924	$	2,370,047	$	15,064,971

Net deferred loan origination fees were $22.6 million at both March 31, 2017 and December 31, 2016. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans and reclassifies these overdrafts as loans in its consolidated balance sheets. At March 31, 2017 and December 31, 2016, overdrafts of $4.0 million and $4.2 million, respectively, have been reclassified to loans.

Loans with carrying values of $4.5 billion were pledged as collateral for borrowings at both March 31, 2017 and December 31, 2016.

Aging Analysis

The following tables provide an analysis of the aging of loans as of March 31, 2017 and December 31, 2016. Due to the difference in accounting for acquired loans, the tables below further segregate the Company’s loans between loans originated, or renewed and underwritten by the Company ("legacy loans") and acquired loans.

	March 31, 2017
	Legacy loans
	Accruing
(Dollars in thousands)	Current or less than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Total Loans
Commercial real estate - Construction	$	880,721	$	187	$	1,431	$	—	$	1,618	$	—	$	882,339
Commercial real estate - Other	4,973,144		4,432		586		537		5,555		17,471		4,996,170
Commercial and industrial	3,102,314		6,399		224		373		6,996		30,895		3,140,205
Energy-related	447,128		—		—		2,175		2,175		113,212		562,515
Residential mortgage	884,571		2,692		1,628		—		4,320		12,968		901,859
Consumer - Home equity	1,779,409		7,868		1,945		—		9,813		7,901		1,797,123
Consumer - Indirect automobile	107,519		1,333		299		—		1,632		1,023		110,174
Consumer - Credit card	82,636		350		190		—		540		436		83,612
Consumer - Other	445,538		2,141		581		15		2,737		1,172		449,447
Total	$	12,702,980	$	25,402	$	6,884	$	3,100	$	35,386	$	185,078	$	12,923,444

	December 31, 2016
	Legacy loans
	Accruing
(Dollars in thousands)	Current or less than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Total Loans
Commercial real estate - Construction	$	740,761	$	—	$	—	$	—	$	—	$	—	$	740,761
Commercial real estate - Other	4,863,902		1,861		351		—		2,212		16,439		4,882,553
Commercial and industrial	3,158,700		3,999		870		—		4,869		31,227		3,194,796
Energy-related	407,434		—		1,526		—		1,526		150,329		559,289
Residential mortgage	836,509		2,012		1,577		1,104		4,693		13,014		854,216
Consumer - Home equity	1,768,763		5,249		1,430		—		6,679		7,979		1,783,421
Consumer - Indirect automobile	127,054		2,551		405		—		2,956		1,038		131,048
Consumer - Credit card	81,602		199		99		—		298		624		82,524
Consumer - Other	462,650		2,155		618		—		2,773		893		466,316
Total	$	12,447,375	$	18,026	$	6,876	$	1,104	$	26,006	$	221,543	$	12,694,924

	March 31, 2017
	Acquired loans (1) (2)
	Accruing
(Dollars in thousands)	Current or Less Than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Discount/Premium			Acquired Impaired Loans		Total Loans
Commercial real estate - Construction	$	25,425	$	—	$	—	$	—	$	—	$	1,946	$	(202	)	$	34,787	$	61,956
Commercial real estate - Other	811,160		—		314		3,684		3,998		957		(3,258		)	224,552		1,037,409
Commercial and industrial	280,869		287		111		1,196		1,594		1,101		(745		)	32,554		315,373
Energy-related	956		—		157		—		157		—		(5		)	—		1,108
Residential mortgage	278,684		919		543		—		1,462		789		(1,729		)	115,293		394,499
Consumer - Home equity	266,706		1,078		222		—		1,300		1,367		(4,826		)	85,126		349,673
Consumer - Indirect automobile	19		—		—		—		—		—		—			7		26
Consumer - Credit Card	—		—		—		—		—		—		—			501		501
Consumer - Other	44,026		218		37		—		255		344		(931		)	4,519		48,213
Total	$	1,707,845	$	2,502	$	1,384	$	4,880	$	8,766	$	6,504	$	(11,696	)	$	497,339	$	2,208,758

	December 31, 2016
	Acquired loans (1) (2)
	Accruing
(Dollars in thousands)	Current or Less Than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Discount/Premium			Acquired Impaired Loans		Total Loans
Commercial real estate - Construction	$	26,714	$	—	$	—	$	—	$	—	$	1,946	$	(243	)	$	32,991	$	61,408
Commercial real estate - Other	871,492		716		55		32		803		1,221		(3,649		)	247,677		1,117,544
Commercial and industrial	314,990		73		51		—		124		1,317		(837		)	32,732		348,326
Energy-related	1,910		—		—		—		—		—		(6		)	—		1,904
Residential mortgage	290,031		328		989		—		1,317		719		(1,835		)	122,952		413,184
Consumer - Home equity	286,411		1,078		189		250		1,517		1,395		(5,237		)	88,419		372,505
Consumer - Indirect automobile	—		—		—		—		—		—		—			4		4
Consumer - Credit Card	468		—		—		—		—		—		—			—		468
Consumer - Other	49,449		391		97		—		488		360		(1,004		)	5,411		54,704
Total	$	1,841,465	$	2,586	$	1,381	$	282	$	4,249	$	6,958	$	(12,811	)	$	530,186	$	2,370,047

⁽¹⁾  Past due and non-accrual information presents acquired loans at the gross loan balance, prior to application of discounts.

⁽²⁾  Past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

Loans Acquired

The following is a summary of changes in the accretable difference for all loans accounted for under ASC 310-30 during the three months ended March 31:

(Dollars in thousands)	2017			2016
Balance at beginning of period	$	175,054		$	227,502
Transfers from non-accretable difference to accretable yield	2,071			2,106
Accretion	(14,596		)	(18,412		)
Changes in expected cash flows not affecting non-accretable differences (1)	1,060			8,688
Balance at end of period	$	163,589		$	219,884

⁽¹⁾  Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, modifications, changes in interest rates and changes in prepayment assumptions.

Troubled Debt Restructurings

Information about the Company’s troubled debt restructurings ("TDRs") at March 31, 2017 and 2016 is presented in the following tables. Modifications of loans that are accounted for within a pool under ASC Topic 310-30 are excluded as TDRs. Accordingly, such modifications do not result in the removal of those loans from the pool, even if the modification of those loans would otherwise be considered a TDR. As a result, all such acquired loans that would otherwise meet the criteria for classification as a TDR are excluded from the tables below.

TDRs totaling $13.2 million and $44.8 million occurred during the three months ended March 31, 2017 and March 31, 2016, respectively, through modification of the original loan terms.

The following table provides information on how the TDRs were modified during the three months ended March 31, 2017 and 2016:

(Dollars in thousands)	2017		2016
Extended maturities	$	7,199	$	3,061
Maturity and interest rate adjustment	3,224		253
Movement to or extension of interest-rate only payments	1,290		—
Forbearance	1,220		5,296
Other concession(s) (1)	232		36,172
Total	$	13,165	$	44,782

⁽¹⁾  Other concessions may include covenant waivers, forgiveness of principal or interest associated with a customer bankruptcy, or a combination of any of the above concessions.

Of the $13.2 million of TDRs occurring during the three months ended March 31, 2017, $11.8 million are on accrual status and $1.4 million are on non-accrual status. Of the $44.8 million of TDRs occurring during the three months ended March 31, 2016, $39.6 million were on accrual status and $5.2 million were on non-accrual status.

The following table presents the end of period balance for loans modified in a TDR during the three months ended March 31:

	2017					2016
(In thousands, except number of loans)	Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment		Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment
Commercial real estate	10	$	4,871	$	4,854	9	$	1,228	$	1,228
Commercial and industrial	15	435		427		14	4,927		4,737
Energy-related	—	—		—		9	33,925		33,925
Residential mortgage	4	259		241		15	3,295		3,219
Consumer - Home equity	37	6,622		6,607		22	1,372		1,316
Consumer - Indirect	13	184		174		—	—		—
Consumer - Other	22	867		862		25	442		357
Total	101	$	13,238	$	13,165	94	$	45,189	$	44,782

Information detailing TDRs that defaulted during the three months ended March 31, 2017 and 2016, and were modified in the previous twelve months (i.e., the twelve months prior to the default) is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter.

	March 31, 2017			March 31, 2016
(In thousands, except number of loans)	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Commercial real estate	16	$	13,583	9	$	1,228
Commercial and industrial	20	1,411		9	1,627
Energy-related	5	9,082		1	2,250
Residential mortgage	22	1,793		15	3,218
Consumer - Home Equity	31	1,337		10	595
Consumer - Indirect automobile	43	517		—	—
Consumer - Other	25	693		7	170
Total	162	$	28,416	51	$	9,088

XML

Allowance for Credit Losses and Credit Quality

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Allowance for Credit Losses and Credit Quality

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

Allowance for Credit Losses Activity

A summary of changes in the allowance for credit losses for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Legacy Loans			Acquired Loans			Total
Allowance for credit losses
Allowance for loan losses at beginning of period	$	105,569		$	39,150		$	144,719
Provision for (Reversal of) loan losses	6,566			(412		)	6,154
Transfer of balance to OREO and other	—			73			73
Loans charged-off	(7,202		)	(89		)	(7,291		)
Recoveries	880			355			1,235
Allowance for loan losses at end of period	$	105,813		$	39,077		$	144,890
Reserve for unfunded commitments at beginning of period	$	11,241		$	—		$	11,241
Provision for unfunded lending commitments	419			—			419
Reserve for unfunded commitments at end of period	$	11,660		$	—		$	11,660
Allowance for credit losses at end of period	$	117,473		$	39,077		$	156,550

	2016
	Legacy Loans			Acquired Loans			Total
Allowance for credit losses
Allowance for loan losses at beginning of period	$	93,808		$	44,570		$	138,378
Provision for (Reversal of) loan losses before benefit attributable to FDIC loss share agreements	15,908			(1,261		)	14,647
Adjustment attributable to FDIC loss share arrangements	—			258			258
Net provision for (Reversal of) loan losses	15,908			(1,003		)	14,905
Adjustment attributable to FDIC loss share arrangements	—			(258		)	(258		)
Transfer of balance to OREO and other	—			(2,459		)	(2,459		)
Loans charged-off	(5,389		)	(171		)	(5,560		)
Recoveries	1,247			304			1,551
Allowance for loan losses at end of period	$	105,574		$	40,983		$	146,557
Reserve for unfunded commitments at beginning of period	$	14,145		$	—		$	14,145
Provision for (Reversal of) unfunded lending commitments	(112		)	—			(112		)
Reserve for unfunded commitments at end of period	$	14,033		$	—		$	14,033
Allowance for credit losses at end of period	$	119,607		$	40,983		$	160,590

A summary of changes in the allowance for credit losses for legacy loans, by loan portfolio type, for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	25,408		$	35,434		$	22,486		$	3,835		$	18,406		$	105,569
Provision for (Reversal of) loan losses	1,948			1,951			490			(623		)	2,800			6,566
Transfer of balance to OREO and other	—			—			—			—			—			—
Loans charged off	(95		)	(917		)	(2,845		)	(22		)	(3,323		)	(7,202		)
Recoveries	87			49			—			43			701			880
Allowance for loan losses at end of period	$	27,348		$	36,517		$	20,131		$	3,233		$	18,584		$	105,813
Reserve for unfunded commitments at beginning of period	$	3,206		$	3,535		$	1,003		$	657		$	2,840		$	11,241
Provision for (Reversal of) unfunded commitments	1,377			(83		)	(800		)	(49		)	(26		)	419
Reserve for unfunded commitments at end of period	$	4,583		$	3,452		$	203		$	608		$	2,814		$	11,660
Allowance on loans individually evaluated for impairment	$	1,222		$	13,860		$	10,446		$	98		$	1,679		$	27,305
Allowance on loans collectively evaluated for impairment	26,126			22,657			9,685			3,135			16,905			78,508
Loans, net of unearned income:
Balance at end of period	$	5,878,509		$	3,140,205		$	562,515		$	901,859		$	2,440,356		$	12,923,444
Balance at end of period individually evaluated for impairment	46,203			40,380			142,398			4,583			23,468			257,032
Balance at end of period collectively evaluated for impairment	5,832,306			3,099,825			420,117			897,276			2,416,888			12,666,412

	2016
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	24,658		$	23,283		$	23,863		$	3,947		$	18,057		$	93,808
Provision for (Reversal of) loan losses	1,297			(2,431		)	14,533			(115		)	2,624			15,908
Loans charged off	(1,738		)	(225		)	—			(14		)	(3,412		)	(5,389		)
Recoveries	487			30			—			18			712			1,247
Allowance for loan losses at end of period	$	24,704		$	20,657		$	38,396		$	3,836		$	17,981		$	105,574
Reserve for unfunded commitments at beginning of period	$	4,160		$	3,448		$	2,665		$	830		$	3,042		$	14,145
Provision for (Reversal of) unfunded commitments	(297		)	1,952			(1,766		)	(24		)	23			(112		)
Reserve for unfunded commitments at end of period	$	3,863		$	5,400		$	899		$	806		$	3,065		$	14,033
Allowance on loans individually evaluated for impairment	$	695		$	488		$	10,918		$	72		$	809		$	12,982
Allowance on loans collectively evaluated for impairment	24,009			20,169			27,478			3,764			17,172			92,592
Loans, net of unearned income:
Balance at end of period	$	4,771,690		$	2,926,686		$	728,778		$	730,621		$	2,370,922		$	11,528,697
Balance at end of period individually evaluated for impairment	26,608			23,302			79,417			2,724			5,909			137,960
Balance at end of period collectively evaluated for impairment	4,745,082			2,903,384			649,361			727,897			2,365,013			11,390,737

A summary of changes in the allowance for loan losses for acquired loans, by loan portfolio type, for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	23,574		$	3,230		$	39		$	7,412		$	4,895		$	39,150
Provision for (Reversal of) loan losses	(84		)	63			(26		)	(437		)	72			(412		)
Transfer of balance to OREO and other	377			(350		)	—			2			44			73
Loans charged off	—			—			—			—			(89		)	(89		)
Recoveries	109			35			—			—			211			355
Allowance for loan losses at end of period	$	23,976		$	2,978		$	13		$	6,977		$	5,133		$	39,077
Allowance on loans individually evaluated for impairment	$	694		$	750		$	—		$	15		$	45		$	1,504
Allowance on loans collectively evaluated for impairment	23,282			2,228			13			6,962			5,088			37,573
Loans, net of unearned income:
Balance at end of period	$	1,099,365		$	315,373		$	1,108		$	394,499		$	398,413		$	2,208,758
Balance at end of period individually evaluated for impairment	7,966			1,810			—			464			1,840			12,080
Balance at end of period collectively evaluated for impairment	832,060			281,009			1,108			278,742			306,420			1,699,339
Balance at end of period acquired with deteriorated credit quality	259,339			32,554			—			115,293			90,153			497,339

	2016
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	25,979		$	2,819		$	125		$	7,841		$	7,806		$	44,570
Provision for (Reversal of) loan losses	(598		)	194			(25		)	662			(1,236		)	(1,003		)
Increase (Decrease) in FDIC loss share receivable	2			(34		)	—			(35		)	(191		)	(258		)
Transfer of balance to OREO and other	(1,574		)	(343		)	—			(70		)	(472		)	(2,459		)
Loans charged off	—			(30		)	—			—			(141		)	(171		)
Recoveries	55			108			—			25			116			304
Allowance for loan losses at end of period	$	23,864		$	2,714		$	100		$	8,423		$	5,882		$	40,983
Allowance on loans individually evaluated for impairment	$	41		$	5		$	—		$	—		$	50		$	96
Allowance on loans collectively evaluated for impairment	23,823			2,709			100			8,423			5,832			40,887
Loans, net of unearned income:
Balance at end of period	$	1,458,938		$	447,696		$	2,884		$	477,770		$	535,259		$	2,922,547
Balance at end of period individually evaluated for impairment	911			1,582			34			—			4,718			7,245
Balance at end of period collectively evaluated for impairment	1,088,713			409,561			2,850			340,278			414,902			2,256,304
Balance at end of period acquired with deteriorated credit quality	369,314			36,553			—			137,492			115,639			658,998

Portfolio Segment Risk Factors

Commercial real estate loans include loans to commercial customers for long-term financing of land and buildings or for land development or construction of a building. These loans are repaid through revenues from operations of the businesses, rents of properties, sales of properties and refinances. Commercial and industrial loans represent loans to commercial customers to finance general working capital needs, equipment purchases and other projects where repayment is derived from cash flows resulting from business operations. The Company originates commercial business loans on a secured and, to a lesser extent, unsecured basis.

Residential mortgage loans consist of loans to consumers to finance a primary residence. The vast majority of the residential mortgage loan portfolio is comprised of non-conforming 1-4 family mortgage loans secured by properties located in the Company's market areas and originated under terms and documentation that permit their sale in a secondary market.

Consumer loans are offered by the Company in order to provide a full range of retail financial services to its customers and include home equity, credit card and other direct consumer installment loans. The Company originates substantially all of its consumer loans in its primary market areas. Loans in the consumer segment are sensitive to unemployment and other key consumer economic measures.

Credit Quality

The Company utilizes an asset risk classification system in accordance with guidelines established by the Federal Reserve Board as part of its efforts to monitor commercial asset quality. “Special mention” loans are defined as loans where known information about possible credit problems of the borrower cause management to have some doubt as to the ability of these borrowers to comply with the present loan repayment terms which may result in future disclosure of these loans as non-performing. For problem assets with identified credit issues, the Company has two primary classifications: “substandard” and “doubtful.”

Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full satisfaction of the loan balance outstanding questionable, which makes probability of loss higher based on currently existing facts, conditions, and values. Loans classified as “Pass” do not meet the criteria set forth for special mention, substandard, or doubtful classification and are not considered criticized. Asset risk classifications are determined at origination or acquisition and reviewed on an ongoing basis. Risk classifications are changed if, in the opinion of management, the risk profile of the customer has changed since the last review of the loan relationship.

The Company’s investment in loans by credit quality indicator is presented in the following tables. The tables below further segregate the Company’s loans between loans that were originated, or renewed and underwritten by the Company (legacy loans) and acquired loans. Loan premiums/discounts in the tables below represent the adjustment of acquired loans to fair value at the acquisition date, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. Asset risk classifications for commercial loans reflect the classification as of March 31, 2017 and December 31, 2016. Credit quality information in the tables below includes total loans acquired (including acquired impaired loans) at the gross loan balance, prior to the application of premiums/discounts, at March 31, 2017 and December 31, 2016.

Loan delinquency is the primary credit quality indicator that the Company utilizes to monitor consumer asset quality.

	Legacy loans
	March 31, 2017										December 31, 2016
(Dollars in thousands)	Pass		Special Mention		Sub- standard		Doubtful		Total		Pass		Special Mention		Sub- standard		Doubtful		Total
Commercial real estate - Construction	$	876,872	$	1,119	$	4,348	$	—	$	882,339	$	734,687	$	2,203	$	3,871	$	—	$	740,761
Commercial real estate - Other	4,882,222		52,083		61,865		—		4,996,170		4,801,494		26,159		54,900		—		4,882,553
Commercial and industrial	3,064,306		31,615		27,014		17,270		3,140,205		3,112,300		29,763		35,199		17,534		3,194,796
Energy-related	314,975		65,469		153,186		28,885		562,515		242,123		80,084		225,724		11,358		559,289
Total	$	9,138,375	$	150,286	$	246,413	$	46,155	$	9,581,229	$	8,890,604	$	138,209	$	319,694	$	28,892	$	9,377,399

	Legacy loans
	March 31, 2017						December 31, 2016
(Dollars in thousands)	Current		30+ Days Past Due		Total		Current		30+ Days Past Due		Total
Residential mortgage	$	884,571	$	17,288	$	901,859	$	836,509	$	17,707	$	854,216
Consumer - Home equity	1,779,409		17,714		1,797,123		1,768,763		14,658		1,783,421
Consumer - Indirect automobile	107,519		2,655		110,174		127,054		3,994		131,048
Consumer - Credit card	82,636		976		83,612		81,602		922		82,524
Consumer - Other	445,538		3,909		449,447		462,650		3,666		466,316
Total	$	3,299,673	$	42,542	$	3,342,215	$	3,276,578	$	40,947	$	3,317,525

	Acquired loans
	March 31, 2017													December 31, 2016
(Dollars in thousands)	Pass		Special Mention		Sub-standard		Doubtful		Premium/(Discount)			Total		Pass		Special Mention		Sub-standard		Doubtful		Loss		Premium/(Discount)			Total
Commercial real estate - Construction	$	45,192	$	472	$	2,717	$	2,574	$	11,001		$	61,956	$	46,498	$	459	$	3,118	$	2,574	$	—	$	8,759		$	61,408
Commercial real estate - Other	1,014,057		15,408		46,451		1,475		(39,982		)	1,037,409		1,090,063		19,284		49,136		1,457		23		(42,419		)	1,117,544
Commercial and industrial	293,402		5,407		18,030		403		(1,869		)	315,373		323,154		1,416		27,749		494		—		(4,487		)	348,326
Energy-related	1,113		—		—		—		(5		)	1,108		1,910		—		—		—		—		(6		)	1,904
Total	$	1,353,764	$	21,287	$	67,198	$	4,452	$	(30,855	)	$	1,415,846	$	1,461,625	$	21,159	$	80,003	$	4,525	$	23	$	(38,153	)	$	1,529,182

	Acquired loans
	March 31, 2017									December 31, 2016
(Dollars in thousands)	Current		30+ Days Past Due		Premium (Discount)			Total		Current		30+ Days Past Due		Premium (Discount)			Total
Residential mortgage	$	404,276	$	19,268	$	(29,045	)	$	394,499	$	424,300	$	20,914	$	(32,030	)	$	413,184
Consumer - Home equity	352,836		12,971		(16,134		)	349,673		377,021		12,807		(17,323		)	372,505
Consumer - Indirect automobile	26		—		—			26		12		—		(8		)	4
Consumer - Other	52,572		937		(4,795		)	48,714		58,141		1,423		(4,392		)	55,172
Total	$	809,710	$	33,176	$	(49,974	)	$	792,912	$	859,474	$	35,144	$	(53,753	)	$	840,865

Legacy Impaired Loans

Information on the Company’s investment in legacy impaired loans, which include all TDRs and all other non-accrual loans evaluated or measured individually for impairment for purposes of determining the allowance for loan losses, is presented in the following tables as of and for the periods indicated.

	March 31, 2017							December 31, 2016
	Unpaid Principal Balance		Recorded Investment		Related Allowance			Unpaid Principal Balance		Recorded Investment		Related Allowance
(Dollars in thousands)
With no related allowance recorded:
Commercial real estate	$	24,203	$	24,203	$	—		$	17,299	$	16,507	$	—
Commercial and industrial	10,176		10,176		—			14,202		13,189		—
Energy-related	93,289		93,289		—			152,424		143,239		—
Residential mortgage	519		519		—			—		—		—
Consumer - Home equity	3,480		3,480		—			—		—		—
Consumer -Other	—		—		—			—		—		—
With an allowance recorded:
Commercial real estate	22,000		22,000		(1,222		)	17,688		17,524		(641		)
Commercial and industrial	30,204		30,204		(13,860		)	28,829		28,329		(10,864		)
Energy-related	49,109		49,109		(10,446		)	53,967		53,088		(9,769		)
Residential mortgage	4,392		4,064		(98		)	4,627		4,312		(144		)
Consumer - Home equity	16,605		16,229		(1,263		)	13,906		13,257		(993		)
Consumer - Indirect automobile	724		724		(139		)	1,037		758		(114		)
Consumer - Other	3,124		3,035		(277		)	2,447		2,442		(251		)
Total	$	257,825	$	257,032	$	(27,305	)	$	306,426	$	292,645	$	(22,776	)
Total commercial loans	$	228,981	$	228,981	$	(25,528	)	$	284,409	$	271,876	$	(21,274	)
Total mortgage loans	4,911		4,583		(98		)	4,627		4,312		(144		)
Total consumer loans	23,933		23,468		(1,679		)	17,390		16,457		(1,358		)

	Three Months Ended March 31, 2017				Three Months Ended March 31, 2016
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
(Dollars in thousands)
With no related allowance recorded:
Commercial real estate	$	24,370	$	315	$	16,167	$	38
Commercial and industrial	10,408		92		27,540		286
Energy-related	96,664		365		53,920		513
Residential mortgage	519		4		1,289		16
Consumer - Home equity	3,480		34		—		—
With an allowance recorded:
Commercial real estate	22,076		115		10,710		83
Commercial and industrial	30,779		209		3,166		46
Energy-related	49,887		2		21,289		224
Residential mortgage	4,080		41		1,462		8
Consumer - Home equity	15,746		170		5,188		51
Consumer - Indirect automobile	766		7		190		1
Consumer - Other	3,078		49		391		7
Total	$	261,853	$	1,403	$	141,312	$	1,273
Total commercial loans	$	234,184	$	1,098	$	132,792	$	1,190
Total mortgage loans	4,599		45		2,751		24
Total consumer loans	23,070		260		5,769		59

As of March 31, 2017 and December 31, 2016, the Company was not committed to lend a material amount of additional funds to any customer whose loan was classified as impaired or as a troubled debt restructuring.

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Goodwill and Other Acquired Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Acquired Intangible Assets

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS

Goodwill

Changes to the carrying amount of goodwill by reporting unit for the three months ended March 31, 2017, and the year ended December 31, 2016 are provided in the following table.

(Dollars in thousands)	IBERIABANK		IMC		LTC		Total
Balance, December 31, 2015	$	696,260	$	23,178	$	5,165	$	724,603
Goodwill adjustments during the year	2,253		—		—		2,253
Balance, December 31, 2016	$	698,513	$	23,178	$	5,165	$	726,856
Goodwill adjustments during the year	—		—		—		—
Balance, March 31, 2017	$	698,513	$	23,178	$	5,165	$	726,856

The goodwill adjustments during 2016 were the result of the finalization of fair value estimates related to the 2015 acquisitions of Florida Bank Group, Old Florida, and Georgia Commerce during the respective measurement periods.

The Company performed the required annual goodwill impairment test as of October 1, 2016. The Company’s annual impairment test did not indicate impairment in any of the Company’s reporting units as of the testing date. Following the testing date, management evaluated the events and changes that could indicate that goodwill might be impaired and concluded that a subsequent interim test was not necessary.

Mortgage Servicing Rights

Mortgage servicing rights are recorded at the lower of cost or market value in “other assets” on the Company's consolidated balance sheets and amortized over the remaining servicing life of the loans, with consideration given to prepayment assumptions. Mortgage servicing rights had the following carrying values as of the periods indicated:

	March 31, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
(Dollars in thousands)
Mortgage servicing rights	$	7,695	$	(3,346	)	$	4,349	$	7,202	$	(3,144	)	$	4,058

In addition, there was an insignificant amount of non-mortgage servicing rights related to SBA loans as of March 31, 2017 and December 31, 2017, respectively.

Title Plant

The Company held title plant assets recorded in “other assets” on the Company's consolidated balance sheets totaling $6.7 million at both March 31, 2017 and December 31, 2016. No events or changes in circumstances occurred during the three months ended March 31, 2017 to suggest the carrying value of the title plant was not recoverable.

Intangible assets subject to amortization

Definite-lived intangible assets had the following carrying values included in “other assets” on the Company’s consolidated balance sheets as of the periods indicated:

	March 31, 2017							December 31, 2016
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Core deposit intangibles	$	74,001	$	(53,887	)	$	20,114	$	74,001	$	(52,165	)	$	21,836
Customer relationship intangible asset	1,273		(1,036		)	237		1,348		(1,064		)	284
Non-compete agreement	63		(27		)	36		63		(22		)	41
Total	$	75,337	$	(54,950	)	$	20,387	$	75,412	$	(53,251	)	$	22,161

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Derivative Instruments and Other Hedging Activities

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Other Hedging Activities

DERIVATIVE INSTRUMENTS AND OTHER HEDGING ACTIVITIES

The Company enters into derivative financial instruments to manage interest rate risk, exposures related to liquidity and credit risk, and to facilitate customer transactions. The primary types of derivatives used by the Company include interest rate swap agreements, foreign exchange contracts, interest rate lock commitments, forward sales commitments, written and purchased options and credit derivatives. All derivative instruments are recognized on the consolidated balance sheets as "other assets" or "other liabilities" at fair value, as required by ASC Topic 815, Derivatives and Hedging.

For cash flow hedges, the effective portion of the gain or loss related to the derivative instrument is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings or when the hedge is terminated. The ineffective portion of the gain or loss is reported in earnings immediately. In applying hedge accounting for derivatives, the Company establishes and documents a method for assessing the effectiveness of the hedging derivative and a measurement approach for determining the ineffective aspect of the hedge upon the inception of the hedge. The Company has designated interest rate swaps in a cash flow hedge to convert forecasted variable interest payments to a fixed rate on its junior subordinated debt and has concluded that the forecasted transactions are probable of occurring.

For derivative instruments that are not designated as hedging instruments, changes in the fair value of the derivatives are recognized in earnings immediately.

Information pertaining to outstanding derivative instruments is as follows:

	Balance Sheet Location	Asset Derivatives Fair Value				Balance Sheet Location	Liability Derivatives Fair Value
(Dollars in thousands)		March 31, 2017		December 31, 2016			March 31, 2017		December 31, 2016
Derivatives designated as hedging instruments under ASC Topic 815:
Interest rate contracts	Other assets	$	—	$	—	Other liabilities	$	—	$	525
Total derivatives designated as hedging instruments under ASC Topic 815		$	—	$	—		$	—	$	525
Derivatives not designated as hedging instruments under ASC Topic 815:
Interest rate contracts	Other assets	$	20,982	$	20,719	Other liabilities	$	17,454	$	20,719
Foreign exchange contracts	Other assets	2		27		Other liabilities	2		26
Forward sales contracts	Other assets	145		6,014		Other liabilities	1,209		794
Written and purchased options	Other assets	13,043		12,125		Other liabilities	8,361		8,098
Other contracts	Other assets	—		1		Other liabilities	42		47
Total derivatives not designated as hedging instruments under ASC Topic 815		34,172		38,886			27,068		29,684
Total		$	34,172	$	38,886		$	27,068	$	30,209

	Asset Derivatives  Notional Amount				Liability Derivatives  Notional Amount
(Dollars in thousands)	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Derivatives designated as hedging instruments under ASC Topic 815:
Interest rate contracts	$	—	$	—	$	108,500	$	108,500
Total derivatives designated as hedging instruments under ASC Topic 815	$	—	$	—	$	108,500	$	108,500
Derivatives not designated as hedging instruments under ASC Topic 815:
Interest rate contracts	$	1,065,894	$	1,033,955	$	1,065,894	$	1,033,955
Foreign exchange contracts	1,277		4,474		1,277		4,474
Forward sales contracts	32,438		229,181		270,612		120,567
Written and purchased options	348,417		289,115		172,782		154,170
Other contracts	8,708		8,784		110,485		106,518
Total derivatives not designated as hedging instruments under ASC Topic 815	$	1,456,734	$	1,565,509	$	1,621,050	$	1,419,684
Total	$	1,456,734	$	1,565,509	$	1,729,550	$	1,528,184

The Company has entered into risk participation agreements with counterparties to transfer or assume credit exposures related to interest rate derivatives. The notional amounts of risk participation agreements sold were $110.5 million and $106.5 million at March 31, 2017 and December 31, 2016, respectively. Assuming all underlying third party customers referenced in the swap contracts defaulted at March 31, 2017 and December 31, 2016, the exposure from these agreements would not be material based on the fair value of the underlying swaps.

The Company is party to collateral agreements with certain derivative counterparties. Such agreements require that the Company maintain collateral based on the fair values of individual derivative transactions. In the event of default by the Company, the counterparty would be entitled to the collateral.

At December 31, 2016, the Company was required to post $1.9 million in cash or securities as collateral for its derivative transactions, which is included in "interest-bearing deposits in banks" on the Company’s consolidated balance sheets. Effective January 3, 2017, the Chicago Mercantile Exchange and LCH.Clearnet Limited amended their rulebooks to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements of the derivatives' exposure rather than collateral against the exposures. As of March 31, 2017, the Company was required to post $3.9 million in variation margin payments for its derivative transactions, of which virtually all is now required to be netted against the fair value of the derivatives in "other assets/other liabilities" on the consolidated balance sheet. The Company does not anticipate additional assets will be required to be posted as collateral, nor does it believe additional assets would be required to settle its derivative instruments immediately if contingent features were triggered at March 31, 2017. The Company’s master netting agreements represent written, legally enforceable bilateral agreements that (1) create a single legal obligation for all individual transactions covered by the master agreement and (2) in the event of default, provide the non-defaulting counterparty the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to promptly liquidate or set-off collateral posted by the defaulting counterparty. As permitted by U.S. GAAP, the Company does not offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against recognized fair value amounts of derivatives executed with the same counterparty under a master netting agreement.

The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset.

	March 31, 2017
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral  (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,982	$	(11,303	)	$	—		$	9,679
Written and purchased options	8,260		—			—			8,260
Total derivative assets subject to master netting arrangements	$	29,242	$	(11,303	)	$	—		$	17,939
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	—	$	—		$	—		$	—
Interest rate contracts not designated as hedging instruments	17,454		(11,303		)	(23		)	6,128
Total derivative liabilities subject to master netting arrangements	$	17,454	$	(11,303	)	$	(23	)	$	6,128

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.} 

	December 31, 2016
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,719	$	(9,677	)	$	—		$	11,042
Written and purchased options	8,085		—			—			8,085
Total derivative assets subject to master netting arrangements	$	28,804	$	(9,677	)	$	—		$	19,127
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	525	$	—		$	(181	)	$	344
Interest rate contracts not designated as hedging instruments	20,719		(9,677		)	(1,711		)	9,331
Total derivative liabilities subject to master netting arrangements	$	21,244	$	(9,677	)	$	(1,892	)	$	9,675

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.} 

During the three months ended March 31, 2017 and 2016, the Company has not reclassified into earnings any gain or loss as a result of the discontinuance of cash flow hedges, because it was probable the original forecasted transaction would not occur by the end of the originally specified term.

At March 31, 2017, the Company does not expect to reclassify a material amount from accumulated other comprehensive income into interest income over the next twelve months for derivatives that will be settled.

At March 31, 2017 and 2016, and for the three months then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows:

													Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
			Amount of Gain (Loss) Recognized in OCI net of taxes (Effective Portion)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income net of taxes (Effective Portion)
(Dollars in thousands)
			For the Three Months Ended March 31
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships		2017		2016				2017			2016			2017		2016
	Interest rate contracts	$	163	$	(4,127	)	Other income (expense)	$	(45	)	$	—	Other income (expense)	$	—	$	—
Total		$	163	$	(4,127	)		$	(45	)	$	—		$	—	$	—

Information pertaining to the effect of derivatives not designated as hedging instruments on the consolidated financial statements as of March 31, is as follows:

	Location of Gain (Loss) Recognized in  Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
		For the Three Months Ended March 31
(Dollars in thousands)		2017			2016
Interest rate contracts (1)	Other income	$	1,117		$	2,962
Foreign exchange contracts	Other income	7			1
Forward sales contracts	Mortgage income	(360		)	(5,343		)
Written and purchased options	Mortgage income	655			3,982
Other contracts	Other income	4			—
Total		$	1,423		$	1,602

^{(1) Includes fees associated with customer interest rate contracts.}

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Shareholders' Equity, Capital Ratios and Other Regulatory Matters

3 Months Ended

Mar. 31, 2017

Banking and Thrift [Abstract]

Shareholders' Equity, Capital Ratios and Other Regulatory Matters

SHAREHOLDERS' EQUITY, CAPITAL RATIOS AND OTHER REGULATORY MATTERS

Preferred Stock

The following table presents a summary of the Company's non-cumulative perpetual preferred stock:

							March 31, 2017		December 31, 2016
	Issuance Date	Earliest Redemption Date	Annual Dividend Rate		Liquidation Amount		Carrying Amount		Carrying Amount
					(Dollars in thousands)
Series B Preferred Stock	8/5/2015	8/1/2025	6.625	%	$	80,000	$	76,812	$	76,812
Series C Preferred Stock	5/9/2016	5/1/2026	6.600	%	57,500		55,285		55,285
					$	137,500	$	132,097	$	132,097

Common Stock

During the second quarter of 2016, the Company's Board of Directors authorized the repurchase of up to 950,000 shares of IBERIABANK Corporation's outstanding common stock. Stock repurchases under this program will be made from time to time, on the open market or in privately negotiated transactions. The timing of these repurchases will depend on market conditions and other requirements. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time. At March 31, 2017, the remaining common shares that could be repurchased under the plan approved by the Board was 747,494 shares. The Company did not repurchase any common shares during the first quarter of 2017.

On March 7, 2017, the Company issued an additional 6,100,000 shares of its common stock at a price of $83.00 per common share. Net proceeds from the offering, after deduction of underwriting discounts, commissions, and direct issuance costs, were $485.2 million.

Regulatory Capital

The Company and IBERIABANK are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy regulations and the regulatory framework for prompt corrective action, the Company and IBERIABANK, as applicable, must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Management believes that, as of March 31, 2017, the Company and IBERIABANK met all capital adequacy requirements to which they are subject.

As of March 31, 2017, the most recent notification from the FRB categorized IBERIABANK as well-capitalized under the regulatory framework for prompt corrective action (the prompt corrective action requirements are not applicable to the Company). To be categorized as well-capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed that categorization.

The Company’s and IBERIABANK’s actual capital amounts and ratios as of March 31, 2017 and December 31, 2016 are presented in the following table.

(Dollars in thousands)	March 31, 2017
	Minimum				Well-Capitalized		Actual
	Amount		Ratio		Amount	Ratio	Amount		Ratio
Tier 1 Leverage
Consolidated	$	845,887	4.00	%	N/A	N/A	$	2,730,832	12.91	%
IBERIABANK	843,399		4.00		1,054,249	5.00	1,925,529		9.13
Common Equity Tier 1 (CET1) (1)
Consolidated	$	798,791	4.50	%	N/A	N/A	$	2,598,735	14.64	%
IBERIABANK	796,259		4.50		1,150,153	6.50	1,925,529		10.88
Tier 1 Risk-Based Capital (1)
Consolidated	$	1,065,054	6.00	%	N/A	N/A	$	2,730,832	15.38	%
IBERIABANK	1,061,679		6.00		1,415,572	8.00	1,925,529		10.88
Total Risk-Based Capital (1)
Consolidated	$	1,420,073	8.00	%	N/A	N/A	$	3,003,882	16.92	%
IBERIABANK	1,415,572		8.00		1,769,465	10.00	2,082,079		11.77

	December 31, 2016
	Minimum				Well-Capitalized		Actual
	Amount		Ratio		Amount	Ratio	Amount		Ratio
Tier 1 Leverage
Consolidated	$	818,440	4.00	%	N/A	N/A	$	2,221,528	10.86	%
IBERIABANK	816,152		4.00		1,020,190	5.00	1,878,703		9.21
Common Equity Tier 1 (CET1) (1)
Consolidated	$	794,334	4.50	%	N/A	N/A	$	2,089,431	11.84	%
IBERIABANK	792,111		4.50		1,144,160	6.50	1,878,703		10.67
Tier 1 Risk-Based Capital (1)
Consolidated	$	1,059,112	6.00	%	N/A	N/A	$	2,221,528	12.59	%
IBERIABANK	1,056,147		6.00		1,408,197	8.00	1,878,703		10.67
Total Risk-Based Capital (1)
Consolidated	$	1,412,149	8.00	%	N/A	N/A	$	2,493,988	14.13	%
IBERIABANK	1,408,197		8.00		1,760,246	10.00	2,034,663		11.56

⁽¹⁾ Minimum capital ratios are subject to a capital conservation buffer. In order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers, an institution must hold a capital conservation buffer above its minimum risk-based capital requirements. This capital conservation buffer is calculated as the lowest of the differences between the actual CET1 ratio, Tier 1 Risk-Based Capital Ratio, and Total Risk-Based Capital ratio and the corresponding minimum ratios. At March 31, 2017, the required minimum capital conservation buffer was 1.250%, and will increase in subsequent years by 0.625% until it is fully phased in on January 1, 2019 at 2.50%. At March 31, 2017, the capital conservation buffers of the Company and IBERIABANK were 8.92% and 3.77%, respectively.

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Earnings Per Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Share-based payment awards that entitle holders to receive non-forfeitable dividends before vesting are considered participating securities that are included in the calculation of earnings per share using the two-class method. The two-class method is an earnings allocation formula under which earnings per share is calculated for common stock and participating securities according to dividends declared and participating rights in undistributed earnings. Under this method, all earnings, distributed and undistributed, are allocated to common shares and participating securities based on their respective rights to receive dividends.

The following table presents the calculation of basic and diluted earnings per share for the periods indicated.

	Three Months Ended March 31,
(In thousands, except per share data)	2017			2016
Earnings per common share - basic:
Net income	$	50,473		$	42,769
Preferred stock dividends	(3,599		)	(2,576		)
Dividends and undistributed earnings allocated to unvested restricted shares	(346		)	(460		)
Net income allocated to common shareholders - basic	$	46,528		$	39,733
Weighted average common shares outstanding	46,123			40,711
Earnings per common share - basic	1.01			0.98
Earnings per common share - diluted:
Net income allocated to common shareholders - basic	$	46,528		$	39,733
Dividends and undistributed earnings allocated to unvested restricted shares	(37		)	(2		)
Net income allocated to common shareholders - diluted	$	46,491		$	39,731
Weighted average common shares outstanding	46,123			40,711
Dilutive potential common shares	373			54
Weighted average common shares outstanding - diluted	46,496			40,765
Earnings per common share - diluted	$	1.00		$	0.97

For the three months ended March 31, 2017, and 2016, the calculations for basic shares outstanding exclude the weighted average shares owned by the Recognition and Retention Plan (“RRP”) of 406,896 and 475,423, respectively.

The effects from the assumed exercises of 70,456 and 751,387 stock options were not included in the computation of diluted earnings per share for the three months ended March 31, 2017 and 2016, respectively, because such amounts would have had an antidilutive effect on earnings per common share.

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Share-Based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

SHARE-BASED COMPENSATION

The Company has various types of share-based compensation plans that permit the granting of awards in the form of stock options, restricted stock, restricted share units, phantom stock, and performance units. These plans are administered by the Compensation Committee of the Board of Directors, which selects persons eligible to receive awards and determines the terms, conditions and other provisions of the awards. At March 31, 2017, awards of 2,106,167 shares could be made under approved incentive compensation plans. The Company issues shares to fulfill stock option exercises and restricted share units and restricted stock awards vesting from available authorized common shares. At March 31, 2017, the Company believes there are adequate authorized shares to satisfy anticipated stock option exercises and restricted share unit and restricted stock award vesting.

Stock option awards

The Company issues stock options under various plans to directors, officers and other key employees. The option exercise price cannot be less than the fair value of the underlying common stock as of the date of the option grant and the maximum option term cannot exceed ten years.

The following table represents the activity related to stock options during the periods indicated:

	Number of Shares		Weighted Average Exercise Price
Outstanding options, December 31, 2016	721,538		$	55.38
Granted	70,433		85.52
Exercised	(24,457	)	53.85
Forfeited or expired	(12,539	)	75.77
Outstanding options, March 31, 2017	754,975		$	57.90
Exercisable options, March 31, 2017	509,347		$	55.78
Outstanding options, December 31, 2015	813,777		$	56.99
Granted	148,684		47.35
Exercised	(466	)	36.48
Forfeited or expired	(43,612	)	61.26
Outstanding options, March 31, 2016	918,383		$	55.24
Exercisable options, March 31, 2016	606,046		$	56.32

The Company uses the Black-Scholes option pricing model to estimate the fair value of stock option awards. The following weighted-average assumptions were used for option awards issued during the following periods:

	For the Three Months Ended March 31
	2017			2016
Expected dividends	1.7		%	2.9		%
Expected volatility	24.9		%	29.1		%
Risk-free interest rate	2.1		%	1.4		%
Expected term (in years)	5.6			6.4
Weighted-average grant-date fair value	$	18.75		$	10.05

The assumptions above are based on multiple factors, including historical stock option exercise patterns and post-vesting employment termination behaviors, expected future exercise patterns and the expected volatility of the Company’s stock price.

The following table represents the compensation expense that is included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options for the following periods:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to stock options	$	444	$	484
Income tax benefit related to stock options	68		81

At March 31, 2017, there was $2.8 million of unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 3 years.

Restricted stock awards

The Company issues restricted stock under various plans for certain officers and directors. The restricted stock awards may not be sold or otherwise transferred until certain restrictions have lapsed. The holders of the restricted stock receive dividends and have the right to vote the shares. The compensation expense for these awards is determined based on the market price of the Company's common stock at the date of grant applied to the total number of shares granted and is recognized over the vesting period (generally three to seven years). As of March 31, 2017 and 2016, unrecognized share-based compensation associated with these awards totaled $21.4 million and $23.4 million, respectively. The unrecognized compensation cost related to restricted stock awards at March 31, 2017 is expected to be recognized over a weighted-average period of 1.7 years.

Restricted share units

During the first three months of 2017 and 2016, the Company issued restricted share units to certain of its executive officers. Restricted share units vest after the end of a three year performance period, based on satisfaction of the performance conditions set forth in the restricted share unit agreement. Recipients do not possess voting or investment power over the common stock underlying such units until vesting. The grant date fair value of these restricted share units is the same as the value of the corresponding number of shares of common stock, adjusted for assumptions surrounding the market-based conditions contained in the respective agreements.

The following table represents the compensation expense that was included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to restricted stock awards and restricted share units for the periods indicated:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to restricted stock awards and restricted share units	$	3,277	$	3,386
Income tax benefit related to restricted stock awards and restricted share units	1,147		1,185

The following table represents unvested restricted stock award and restricted share unit activity for the following periods:

	For the Three Months Ended March 31
	2017		2016
Balance at beginning of period	543,258		507,130
Granted	146,175		226,176
Forfeited	(4,105	)	(3,573	)
Earned and issued	(157,753	)	(136,126	)
Balance at end of period	527,575		593,607

Phantom stock awards

The Company issues phantom stock awards to certain key officers and employees. The awards are subject to a vesting period of five years and are paid out in cash upon vesting. The amount paid per vesting period is calculated as the number of vested “share equivalents” multiplied by the closing market price of a share of the Company’s common stock on the vesting date. Share equivalents are calculated on the date of grant as the total award’s dollar value divided by the closing market price of a share of the Company’s common stock on the grant date. Award recipients are also entitled to a “dividend equivalent” on each unvested share equivalent held by the award recipient. A dividend equivalent is a dollar amount equal to the cash dividends that the participant would have been entitled to receive if the participant’s share equivalents were issued in shares of common stock. Dividend equivalents are reinvested as share equivalents that will vest and be paid out on the same date as the underlying share equivalents on which the dividend equivalents were paid. The number of share equivalents acquired with a dividend equivalent is determined by dividing the aggregate of dividend equivalents paid on the unvested share equivalents by the closing price of a share of the Company’s common stock on the dividend payment date.

Performance units

Performance units are tied to the value of shares of the Company's common stock, are payable in cash, and vest in increments of one-third per year after attainment of one or more performance measures. The value of performance units is the same as the value of the corresponding number of shares of common stock. There were no performance units granted in 2017 or 2016.

The following table indicates compensation expense recorded for phantom stock and performance units based on the number of share equivalents vested at March 31 of the years indicated and the current market price of the Company’s stock at that time:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to phantom stock and performance units	$	3,053	$	2,405

The following table represents phantom stock award and performance unit activity during the periods indicated.

(Dollars in thousands)	Number of share equivalents (1)		Value of share equivalents (2)
Balance, December 31, 2016	472,830		$	39,600
Granted	96,897		7,665
Forfeited share equivalents	(5,330	)	422
Vested share equivalents	(143,643	)	13,715
Balance, March 31, 2017	420,754		$	33,282
Balance, December 31, 2015	462,430		$	25,466
Granted	185,798		9,526
Forfeited share equivalents	(9,022	)	463
Vested share equivalents	(138,752	)	6,939
Balance, March 31, 2016	500,454		$	25,658

⁽¹⁾  Number of share equivalents includes all reinvested dividend equivalents for the periods indicated.

⁽²⁾  Except for share equivalents at the beginning of each period, which are based on the value at that time, and vested share payments, which are based on the cash paid at the time of vesting, the value of share equivalents is calculated based on the market price of the Company’s stock at the end of the respective periods. The market price of the Company’s stock was $79.10 and $51.27 on March 31, 2017, and 2016, respectively.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Recurring fair value measurements

The Company has segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to estimate the fair value at the measurement date in the tables below. See Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016, for a description of how fair value measurements are determined.

	March 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	3,823,953	$	—	$	3,823,953
Mortgage loans held for sale	—		122,333		—		122,333
Derivative instruments	—		34,172		—		34,172
Total	$	—	$	3,980,458	$	—	$	3,980,458
Liabilities
Derivative instruments	$	—	$	27,068	$	—	$	27,068
Total	$	—	$	27,068	$	—	$	27,068
	December 31, 2016
	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	3,446,097	$	—	$	3,446,097
Mortgage loans held for sale	—		157,041		—		157,041
Derivative instruments	—		38,886		—		38,886
Total	$	—	$	3,642,024	$	—	$	3,642,024
Liabilities
Derivative instruments	$	—	$	30,209	$	—	$	30,209
Total	$	—	$	30,209	$	—	$	30,209

During the three months ended March 31, 2017, there were no transfers between the Level 1 and Level 2 fair value categories.

Non-recurring fair value measurements

The Company has segregated all assets and liabilities that are measured at fair value on a non-recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below.

	March 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	87,425	$	87,425
OREO, net	—		—		2,122		2,122
Total	$	—	$	—	$	89,547	$	89,547
	December 31, 2016
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	93,485	$	93,485
OREO, net	—		—		185		185
Total	$	—	$	—	$	93,670	$	93,670

In accordance with the provisions of ASC Topic 310, the Company records certain loans considered impaired at their estimated fair value. A loan is considered impaired if it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Fair value is measured at the estimated fair value of the collateral for collateral-dependent loans. Impaired loans with an unpaid principal balance of $120.1 million and $125.5 million were recorded at their fair value at March 31, 2017 and December 31, 2016, respectively. These loans are net of reserves and charge-offs of $32.7 million and $32.0 million included in the Company's allowance for credit losses at March 31, 2017 and December 31, 2016, respectively.

The Company did not record any liabilities at fair value for which measurement of the fair value was made on a non-recurring basis at March 31, 2017 and December 31, 2016.

Fair value option

The Company has elected the fair value option for certain originated residential mortgage loans held for sale, which allows for a more effective offset of the changes in fair values of the loans and the derivative instruments used to hedge them without the burden of complying with the requirements for hedge accounting. The Company has $14.0 million and $12.7 million of mortgage loans held for investment for which the fair value option was elected upon origination and continue to be accounted for at fair value at March 31, 2017 and December 31, 2016, respectively.

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value:

	March 31, 2017						December 31, 2016
(Dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal		Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal
Mortgage loans held for sale, at fair value	$	122,333	$	118,875	$	3,458	$	157,041	$	153,801	$	3,240

Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of comprehensive income. Net gains (losses) resulting from the change in fair value of these loans that were recorded in mortgage income in the consolidated statements of comprehensive income totaled $0.4 million and $1.9 million for the three months ended March 31, 2017 and 2016, respectively. The changes in fair value are mostly offset by economic hedging activities, with an insignificant portion of these changes attributable to changes in instrument-specific credit risk.

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Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

The estimated fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. ASC Topic 825, Financial Instruments, excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Consequently, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company.

The carrying amount and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are included in the tables below. See Note 1, Summary of Significant Accounting Policies, in the 2016 Annual Report on Form 10-K for the year ended December 31, 2016 for a description of how fair value measurements are determined.

	March 31, 2017
(Dollars in thousands)	Carrying  Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	1,301,118	$	1,301,118	$	1,301,118	$	—	$	—
Investment securities	3,909,971		3,910,766		—		3,910,766		—
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,109,645		15,196,179		—		122,333		15,073,846
Derivative instruments	34,172		34,172		—		34,172		—
Financial Liabilities
Deposits	$	17,312,265	$	16,663,693	$	—	$	—	$	16,663,693
Short-term borrowings	448,696		448,696		368,696		80,000		—
Long-term debt	628,085		617,254		—		—		617,254
Derivative instruments	27,068		27,068		—		27,068		—
	December 31, 2016
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	1,362,126	$	1,362,126	$	1,362,126	$	—	$	—
Investment securities	3,535,313		3,536,029		—		3,536,029		—
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,077,293		15,066,055		—		157,041		14,909,014
Derivative instruments	38,886		38,886		—		38,886		—
Financial Liabilities
Deposits	$	17,408,283	$	16,762,475	$	—	$	—	$	16,762,475
Short-term borrowings	509,136		509,136		334,136		175,000		—
Long-term debt	628,953		617,656		—		—		617,656
Derivative instruments	30,209		30,209		—		30,209		—

The fair value estimates presented herein are based upon pertinent information available to management as of March 31, 2017 and December 31, 2016. 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.

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Business Segments

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

Each of the Company’s reportable operating segments 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 primarily reflect the manner in which resources are allocated and performance is assessed. Further, the reportable operating segments are also determined based on the quantitative thresholds prescribed within ASC Topic 280, Segment Reporting, and consideration of the usefulness of the information to the users of the consolidated financial statements.

The Company reports the results of its operations through three reportable 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. 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 methods that reflect utilization. Also within IBERIABANK are certain reconciling items that 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, 2017
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest and dividend income	$	190,823		$	1,709		$	1		$	192,533
Interest expense	19,715			—			—			19,715
Net interest income	171,108			1,709			1			172,818
Provision for/ reversal of loan losses	6,158			(4		)	—			6,154
Mortgage income	—			14,115			—			14,115
Service charges on deposit accounts	11,153			—			—			11,153
Title revenue	—			—			4,741			4,741
Other non-interest income	17,353			(10		)	(6		)	17,337
Allocated expenses	(2,174		)	1,656			518			—
Non-interest expense	121,651			15,167			4,200			141,018
Income/(loss) before income tax expense	73,979			(1,005		)	18			72,992
Income tax expense/(benefit)	22,829			(322		)	12			22,519
Net income/(loss)	$	51,150		$	(683	)	$	6		$	50,473
Total loans and loans held for sale, net of unearned income	$	15,072,661		$	181,874		$	—		$	15,254,535
Total assets	21,774,586			209,911			23,982			22,008,479
Total deposits	17,306,328			5,937			—			17,312,265
Average assets	21,550,930			286,694			23,877			21,861,501

	Three Months Ended March 31, 2016
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest and dividend income	$	175,324		$	1,611		$	1		$	176,936
Interest expense	14,654			879			—			15,533
Net interest income	160,670			732			1			161,403
Provision for loan losses	14,905			—			—			14,905
Mortgage income	—			19,940			—			19,940
Service charges on deposit accounts	10,951			—			—			10,951
Title revenue	—			—			4,745			4,745
Other non-interest income	20,210			(1		)	—			20,209
Allocated expenses	(2,669		)	2,050			619			—
Non-interest expense	120,027			13,198			4,227			137,452
Income/(loss) before income tax expense	59,568			5,423			(100		)	64,891
Income tax expense/(benefit)	20,001			2,153			(32		)	22,122
Net income/(loss)	$	39,567		$	3,270		$	(68	)	$	42,769
Total loans and loans held for sale, net of unearned income	$	14,428,613		$	215,176		$	—		$	14,643,789
Total assets	19,774,092			291,893			26,578			20,092,563
Total deposits	16,256,147			4,419			—			16,260,566
Average assets	19,381,718			252,281			27,312			19,661,311

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Off-balance sheet commitments

In the normal course of business, to meet the financing needs of its customers, the Company is a party to credit related financial instruments, with risk not reflected in the consolidated financial statements. These financial instruments include commitments to extend credit, standby letters of credit, and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The credit policies used for these commitments are consistent with those used for on-balance sheet instruments. The Company’s exposure to credit loss in the event of non-performance by its customers under such commitments or letters of credit represents the contractual amount of the financial instruments as indicated in the table below. At March 31, 2017 and December 31, 2016, the fair value of guarantees under commercial and standby letters of credit was $1.7 million and $1.6 million, respectively. These amounts represent the unamortized fees associated with the guarantees and is included in “other liabilities” on the Company's consolidated balance sheets. This fair value will decrease as the existing commercial and standby letters of credit approach their expiration dates.

At March 31, 2017 and December 31, 2016, respectively, the Company had the following financial instruments outstanding and related reserves, whose contract amounts represent credit risk:

(Dollars in thousands)	March 31, 2017		December 31, 2016
Commitments to grant loans	$	419,847	$	355,558
Unfunded commitments under lines of credit	4,912,092		4,899,930
Commercial and standby letters of credit	165,784		163,560
Reserve for unfunded lending commitments	11,660		11,241

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to be drawn upon, the total commitment amounts generally represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral, if any, is based on management’s credit evaluation of the customer.

Unfunded commitments under commercial lines of credit, revolving credit lines, and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. Many of these types of commitments do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. See Note 5 for additional information related to the Company’s unfunded lending commitments.

Commercial and standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper issuance, bond financing, and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. When necessary they are collateralized, generally in the form of marketable securities and cash equivalents.

Legal proceedings

The nature of the business of the Company’s banking and other subsidiaries ordinarily results in a certain amount of claims, litigation, investigations, and legal and administrative cases and proceedings, which are considered incidental to the normal conduct of business. Some of these claims are against entities or assets of which the Company is a successor or acquired in business acquisitions. The Company has asserted defenses to these litigations and, with respect to such legal proceedings, intends to continue to defend itself vigorously, litigating or settling cases according to management’s judgment as to what is in the best interest of the Company and its shareholders.

In July of 2016, a subsidiary of IBERIABANK received a subpoena from the Office of Inspector General of the U.S.

Department of Housing and Urban Development (“HUD”) requesting information on certain previously originated loans insured by the Federal Housing Administration ("FHA") as well as other documents regarding the subsidiary's FHA-related policies and practices. The Company has provided a volume of information under the subpoena, and is currently in discussions with HUD regarding the information provided.  The Company continues to cooperate with HUD with respect to the subpoena.

The Company assesses its liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that the Company will incur a loss and the amount of the loss can be reasonably estimated, the Company records a liability in its consolidated financial statements. These legal reserves may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of loss is not estimable, the Company does not accrue legal reserves. While the outcome of legal proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, the Company’s management believes that it has established appropriate legal reserves. Any liabilities arising from pending legal proceedings are not expected to have a material adverse effect on the Company’s consolidated financial position, consolidated results of operations, or consolidated cash flows. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the Company’s consolidated financial position, consolidated results of operations, or consolidated cash flows.

As of the date of this filing, the Company believes the amount of losses associated with legal proceedings that it is reasonably possible to incur above amounts already accrued is not material.

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Related Party Transactions

3 Months Ended

Mar. 31, 2017

Related Party Transactions [Abstract]

Related Party Transactions

RELATED PARTY TRANSACTIONS

In the ordinary course of business, the Company may execute transactions with various related parties. These transactions are consummated at terms equivalent to the prevailing market rates and terms at the time. Examples of such transactions may include lending or deposit arrangements, transfers of financial assets, services for administrative support, and other miscellaneous items.

The Company has granted loans to executive officers and directors and their affiliates. These loans, including the related principal additions, principal payments, and unfunded commitments are not material to the consolidated financial statements at March 31, 2017 and December 31, 2016. None of the related party loans were classified as non-accrual, past due, troubled debt restructurings, or potential problem loans at March 31, 2017 and December 31, 2016, with the exception of the loan discussed below.

IBERIABANK and several other financial institutions previously extended credit (the “Credit Facility”) under a multi-bank syndicated credit facility to Stone Energy Corporation (the “Borrower"). At March 31, 2017 and December 31, 2016, one of the Company’s directors, David H. Welch, was the Chairman, President and Chief Executive Officer of the Borrower. IBERIABANK held approximately 6 percent of the total commitments from twelve banks under the Credit Facility. On December 14, 2016, the Borrower filed for Chapter 11 Bankruptcy with the U.S. Bankruptcy Court in the Southern District of Texas.  At the time of the filing, $341.5 million was outstanding under the Credit Facility, with approximately $20.3 million outstanding and due to IBERIABANK. At December 31, 2016, the outstanding amount due IBERIABANK under the Credit Facility was on non-accrual status.  On February 15, 2017, Borrower’s Second Amended Joint Prepackaged Plan of Reorganization (the “Plan”) was confirmed by the U.S. Bankruptcy Court.  Pursuant to the Plan, banks under the Credit Facility were allowed a claim in the aggregate principal amount of $341.5 million, which was the principal amount outstanding under the Credit Facility at the time of the bankruptcy filing. The confirmed plan proposed a full recovery to the banks under the Credit Facility of their prepetition claims, including IBERIABANK's prepetition claim of approximately $20.3 million. The Plan further provided that banks under the Credit Facility were to receive, on account of their prepetition claims, (i) their respective pro-rata share of commitments and obligations owing with respect to outstanding loans under a new 4-year Reserve Based Lending Facility (the “Exit Facility”), and (ii) their respective pro rata share of prepetition cash as a partial repayment of such outstanding loans subject to re-borrowing to the extent permitted and pursuant to the terms of the Exit Facility held by such banks. On February 28, 2017, the Plan became effective and the Borrower satisfied the entire amount due and owing to the financial institutions on their claim of $341.5 million, including payment to IBERIABANK of approximately $20.3 million. On that same date, having emerged from the Chapter 11 bankruptcy, the Borrower entered into the new Exit Facility with the lenders, including IBERIABANK. The new Exit Facility, which replaces the Credit Facility, provides for a $200 million reserve-based credit facility with a maturity date of February 21, 2021. Interest on advances under the Exit Facility is calculated using the London Interbank Offering Rate ("LIBOR") or the base rate, at the election of the Borrower, plus, in each case an applicable margin. The applicable margin is determined based on borrower base utilization and ranges from 2.00% to 3.00% per annum for base rate loans and 3.00% to 4.00% per annum for LIBOR loans. IBERIABANK holds a 6 percent pro-rata share, or $12 million, of the $200 million total committed under the new facility. At March 31, 2017, there are no draws or outstanding amounts under the Exit Facility. Effective April 28, 2017, David H. Welch retired from Stone Energy.

Deposits from related parties held by the Company were not material at March 31, 2017 and December 31, 2016.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Reclassification

Principles of Consolidation

Principles of Consolidation

The Company’s consolidated financial statements include all entities in which the Company has a controlling financial interest under either the voting interest or variable interest model. The assessment of whether or not the Company has a controlling interest (i.e., the primary beneficiary) in a variable interest entity ("VIE") is performed on an on-going basis. All equity investments in non-consolidated VIEs are included in "other assets" in the Company’s consolidated balance sheets. The Company’s maximum exposure to loss as a result of its involvement with non-consolidated VIEs was approximately $92 million and $91 million at March 31, 2017 and December 31, 2016, respectively. The Company's maximum exposure to loss was equivalent to the carrying value of its investments and any related outstanding loans to the non-consolidated VIEs.

Investments in entities that are not consolidated are accounted for under either the equity, cost, or proportional amortization method of accounting. Investments for which the Company has the ability to exercise significant influence over the operating and financing decisions of the entity are accounted for under the equity method. Investments for which the Company does not hold such ability are accounted for under the cost method. Investments in qualified affordable housing projects, which meet certain criteria, are accounted for under the proportional amortization method.

The consolidated financial statements include the accounts of the Company and its subsidiaries, IBERIABANK; Lenders Title Company; IBERIA Capital Partners, LLC; 1887 Leasing, LLC; IBERIA Asset Management, Inc.; 840 Denning, LLC; and IBERIA CDE, LLC. Effective January 1, 2017, IBERIABANK Mortgage Company, previously a subsidiary of IBERIABANK, merged into IBERIABANK. All significant intercompany balances and transactions have been eliminated in consolidation.

Nature of Operations

Nature of Operations

The Company offers commercial and retail banking products and services to customers throughout locations in eight states through IBERIABANK. The Company also operates mortgage production offices in 10 states and offers a full line of title insurance and closing services throughout Arkansas and Louisiana through LTC and its subsidiaries. ICP provides equity research, institutional sales and trading, and corporate finance services throughout the energy industry. 1887 Leasing, LLC owns an aircraft used by management of the Company. IAM provides wealth management and trust services for commercial and private banking clients. CDE is engaged in the purchase of tax credits.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are susceptible to significant change in the near term are the allowance for credit losses, valuation of and accounting for acquired loans, goodwill and other intangibles,

Concentration of Credit Risks

Concentrations of Credit Risk

Recent Accounting Pronouncements

Pronouncements adopted during the quarter ended March 31, 2017:

ASU No. 2016-09

In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments require recognition of excess tax benefits and deficiencies associated with awards which vest or settle within income tax expense or benefit in the statement of comprehensive income, with the tax effects treated as discrete items in the reporting period in which they occur. The ASU further requires entities to recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period, which eliminates the APIC pool concept. The ASU also requires entities to exclude excess tax benefits and deficiencies from assumed proceeds when applying the treasury stock method to share-based payment awards to determine their dilutive effect on EPS; allows an accounting policy election to account for forfeitures as they occur; permits an entity to withhold up to the maximum statutory tax rates in the applicable jurisdictions while still qualifying for equity classification; and changes the classification of certain cash flows associated with stock compensation.

The Company adopted the amendments effective January 1, 2017 as follows: (i) prospective adoption of the recognition of excess tax benefits associated with awards which vested or settled during the quarter ended March 31, 2017 in the statement of comprehensive income; (ii) prospective adoption of the exclusion of excess tax benefits from assumed proceeds for the calculation of diluted EPS for the quarter ended March 31, 2017; (iii) modified retrospective adoption of the minimum statutory withholdings requirements; (iv) modified retrospective adoption of the accounting policy election to account for forfeitures as they occur; and (v) prospective adoption of the classifications of certain cash flows associated with stock compensation. The adoption of these amendments did not, either individually or in aggregate, have a significant impact to the consolidated financial statements.

ASU No. 2017-01

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which introduces amendments that are intended to clarify the definition of a business to assist companies and other reporting organizations in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments are intended to narrow the current interpretation of a business.

ASU No. 2017-01 will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those periods. The amendments will be applied prospectively on or after the effective date. Early application of the amendments is allowed for transactions, including when a subsidiary or group of assets is deconsolidated/derecognized, in which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance.

The Company adopted the amendments effective January 1, 2017. The adoption of this ASU did not and is not expected to have a significant impact on the Company’s consolidated financial statements.

Pronouncements issued but not yet adopted:

ASU No. 2014-09

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which implements a common revenue standard and clarifies the principles used for recognizing revenue. The amendments in the ASU clarify that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The amendments in ASU No. 2014-09 will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that annual reporting period. The amendments will be applied through the election of one of two retrospective methods.

The Company intends to adopt the amendments beginning January 1, 2018 through the modified-retrospective transition method. Based on the Company’s preliminary scoping, walkthroughs, and contract reviews, it does not expect to recognize a significant cumulative adjustment to equity upon implementation of the standard. Further, the Company does not expect a significant impact to the Company’s consolidated statements of comprehensive income or consolidated balance sheets from either a presentation or timing perspective, but is still analyzing some contracts (e.g., card interchange and rewards).  The Company does anticipate additional disclosures will be presented in the notes to the consolidated financial statements following adoption. 

ASU No. 2016-01

In January 2016, the FASB issued ASU No. 2016-01, Financial Statements - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments will not change the guidance for classifying and measuring investments in debt securities or loans; however, the ASU will impact how the Company measures certain equity investments and discloses and presents certain financial instruments through the application of the “exit price” notion.

ASU No. 2016-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. An entity will record a cumulative-effect adjustment to beginning retained earnings as of the beginning of the first reporting period in which the guidance is adopted, with two exceptions. The amendments related to equity investments without readily determinable fair values (including disclosure requirements) will be applied prospectively. The requirement to use the “exit price” notion to measure the fair value of financial instruments for disclosure purposes will also be applied prospectively.

The Company does not expect a significant cumulative-effect adjustment to be recorded at adoption or any significant impact to the consolidated financial statements associated with the accounting for its current equity investments. The Company does anticipate financial statement disclosures to be impacted, specifically related to financial instruments measured at amortized cost whose fair values are disclosed under the “entry price” notion, but is currently still in the process of determining the impact.

ASU No. 2016-02

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The most significant amendment to existing GAAP is the recognition of lease assets (i.e., right of use assets) and liabilities on the balance sheet for leases that are classified as operating leases by lessees. The lessor model remains similar to the current accounting model in existing GAAP. Additional amendments include, but are not limited to, the elimination of leveraged leases; modification to the definition of a lease; amendments on sale and leaseback transactions; and disclosure of additional quantitative and qualitative information.

ASU 2016-02 will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company anticipates adopting the amendments on January 1, 2019. The Company is currently assessing the practical expedients it may elect at adoption, but does not anticipate the amendments will have a significant impact to the consolidated financial statements. Based on the Company’s preliminary analysis of its current portfolio, the impact to the Company’s consolidated balance sheets is estimated to result in less than a 1% increase in assets and liabilities. The adjustment to retained earnings is not expected to be significant based on the transition guidance associated with current sale-leaseback agreements. The Company also anticipates additional disclosures to be provided at adoption.

ASU No. 2016-13

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments introduce an impairment model that is based on expected credit losses (“ECL”), rather than incurred losses, to estimate credit losses on certain types of financial instruments (e.g., loans and held-to-maturity securities), including certain off-balance sheet financial instruments (e.g., loan commitments). The ECL should consider historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments, over the contractual term. Financial instruments with similar risk characteristics may be grouped together when estimating the ECL.

The ASU also amends the current AFS security impairment model for debt securities. The new model will require an estimate of ECL when the fair value is below the amortized cost of the asset through the use of an allowance to record estimated credit losses (and subsequent recoveries). Non-credit related losses will continue to be recognized through OCI.

In addition, the amendments provide for a simplified accounting model for purchased financial assets with a more-than-insignificant amount of credit deterioration since their origination. The initial estimate of expected credit losses would be recognized through an ALL with an offset (i.e., increase) to the cost basis of the related financial asset at acquisition.

ASU 2016-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods. The amendments will be applied through a modified-retrospective approach, resulting in a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. A prospective transition approach is required for debt securities for which OTTI had been recognized before the effective date. Amounts previously recognized in AOCI as of the date of adoption that relate to improvements in cash flows expected to be collected should continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption should be recorded in earnings when received.

The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements.

ASU No. 2017-04

In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test.  Therefore, any carrying amount which exceeds the reporting unit’s fair value (up to the amount of goodwill recorded) will be recognized as an impairment loss.

ASU No. 2017-04 will be effective for annual reporting periods beginning after December 15, 2019, including interim reporting periods within those periods.  The amendments will be applied prospectively on or after the effective date.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.  Based on recent goodwill impairments tests, which did not require the application of Step 2, the Company does not expect the adoption of this ASU to have an immediate impact.

ASU No. 2017-08

In March 2017, the FASB issued ASU No. 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities, which will shorten the amortization period for callable debt securities held at a premium to the earliest call date instead of the maturity date. The amendments do not require an accounting change for securities held at a discount, which will continue to be amortized to the maturity date.

ASU No. 2017-08 will be effective for annual reporting periods beginning after December 15, 2018, including interim reporting periods within those periods. The amendments should be applied using a modified-retrospective transition method as of the beginning of the period of adoption. Early adoption is permitted, including adoption in an interim period. The adoption of the ASU will not have a significant impact to the Company based on its current investment portfolio.

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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows:

	March 31, 2017
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(463	)	$	150,412	$	—		$	—	$	(463	)	$	150,412
Obligations of state and political subdivisions	(3,812		)	101,543		—			—		(3,812		)	101,543
Mortgage-backed securities	(35,221		)	2,349,545		(2,284		)	94,005		(37,505		)	2,443,550
Other Securities	(212		)	42,955		(49		)	3,614		(261		)	46,569
Total securities available for sale	$	(39,708	)	$	2,644,455	$	(2,333	)	$	97,619	$	(42,041	)	$	2,742,074
Securities held to maturity:
Obligations of state and political subdivisions	$	(99	)	$	4,986	$	—		$	—	$	(99	)	$	4,986
Mortgage-backed securities	(358		)	12,093		(485		)	10,366		(843		)	22,459
Total securities held to maturity	$	(457	)	$	17,079	$	(485	)	$	10,366	$	(942	)	$	27,445

	December 31, 2016
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(549	)	$	150,554	$	—		$	—	$	(549	)	$	150,554
Obligations of state and political subdivisions	(5,207		)	148,059		—			—		(5,207		)	148,059
Mortgage-backed securities	(38,667		)	2,191,563		(2,624		)	98,912		(41,291		)	2,290,475
Other Securities	(451		)	36,484		(53		)	3,850		(504		)	40,334
Total securities available for sale	$	(44,874	)	$	2,526,660	$	(2,677	)	$	102,762	$	(47,551	)	$	2,629,422
Securities held to maturity:
Obligations of state and political subdivisions	$	(133	)	$	10,602	$	—		$	—	$	(133	)	$	10,602
Mortgage-backed securities	(330		)	12,288		(487		)	10,960		(817		)	23,248
Total securities held to maturity	$	(463	)	$	22,890	$	(487	)	$	10,960	$	(950	)	$	33,850

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:

	March 31, 2017
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,430	$	199	$	(463	)	$	212,166
Obligations of state and political subdivisions	297,712		3,190		(3,812		)	297,090
Mortgage-backed securities	3,238,530		4,937		(37,505		)	3,205,962
Other securities	108,541		455		(261		)	108,735
Total securities available for sale	$	3,857,213	$	8,781	$	(42,041	)	$	3,823,953
Securities held to maturity:
Obligations of state and political subdivisions	$	62,315	$	1,682	$	(99	)	$	63,898
Mortgage-backed securities	23,703		55		(843		)	22,915
Total securities held to maturity	$	86,018	$	1,737	$	(942	)	$	86,813

	December 31, 2016
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,662	$	245	$	(549	)	$	212,358
Obligations of state and political subdivisions	286,458		1,948		(5,207		)	283,199
Mortgage-backed securities	2,888,180		4,820		(41,291		)	2,851,709
Other securities	98,974		361		(504		)	98,831
Total securities available for sale	$	3,486,274	$	7,374	$	(47,551	)	$	3,446,097
Securities held to maturity:
Obligations of state and political subdivisions	$	64,726	$	1,609	$	(133	)	$	66,202
Mortgage-backed securities	24,490		57		(817		)	23,730
Total securities held to maturity	$	89,216	$	1,666	$	(950	)	$	89,932

Held-to-maturity Securities

Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows:

	March 31, 2017
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(463	)	$	150,412	$	—		$	—	$	(463	)	$	150,412
Obligations of state and political subdivisions	(3,812		)	101,543		—			—		(3,812		)	101,543
Mortgage-backed securities	(35,221		)	2,349,545		(2,284		)	94,005		(37,505		)	2,443,550
Other Securities	(212		)	42,955		(49		)	3,614		(261		)	46,569
Total securities available for sale	$	(39,708	)	$	2,644,455	$	(2,333	)	$	97,619	$	(42,041	)	$	2,742,074
Securities held to maturity:
Obligations of state and political subdivisions	$	(99	)	$	4,986	$	—		$	—	$	(99	)	$	4,986
Mortgage-backed securities	(358		)	12,093		(485		)	10,366		(843		)	22,459
Total securities held to maturity	$	(457	)	$	17,079	$	(485	)	$	10,366	$	(942	)	$	27,445

	December 31, 2016
	Less Than Twelve Months					Over Twelve Months					Total
(Dollars in thousands)	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	(549	)	$	150,554	$	—		$	—	$	(549	)	$	150,554
Obligations of state and political subdivisions	(5,207		)	148,059		—			—		(5,207		)	148,059
Mortgage-backed securities	(38,667		)	2,191,563		(2,624		)	98,912		(41,291		)	2,290,475
Other Securities	(451		)	36,484		(53		)	3,850		(504		)	40,334
Total securities available for sale	$	(44,874	)	$	2,526,660	$	(2,677	)	$	102,762	$	(47,551	)	$	2,629,422
Securities held to maturity:
Obligations of state and political subdivisions	$	(133	)	$	10,602	$	—		$	—	$	(133	)	$	10,602
Mortgage-backed securities	(330		)	12,288		(487		)	10,960		(817		)	23,248
Total securities held to maturity	$	(463	)	$	22,890	$	(487	)	$	10,960	$	(950	)	$	33,850

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:

	March 31, 2017
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,430	$	199	$	(463	)	$	212,166
Obligations of state and political subdivisions	297,712		3,190		(3,812		)	297,090
Mortgage-backed securities	3,238,530		4,937		(37,505		)	3,205,962
Other securities	108,541		455		(261		)	108,735
Total securities available for sale	$	3,857,213	$	8,781	$	(42,041	)	$	3,823,953
Securities held to maturity:
Obligations of state and political subdivisions	$	62,315	$	1,682	$	(99	)	$	63,898
Mortgage-backed securities	23,703		55		(843		)	22,915
Total securities held to maturity	$	86,018	$	1,737	$	(942	)	$	86,813

	December 31, 2016
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Securities available for sale:
U.S. Government-sponsored enterprise obligations	$	212,662	$	245	$	(549	)	$	212,358
Obligations of state and political subdivisions	286,458		1,948		(5,207		)	283,199
Mortgage-backed securities	2,888,180		4,820		(41,291		)	2,851,709
Other securities	98,974		361		(504		)	98,831
Total securities available for sale	$	3,486,274	$	7,374	$	(47,551	)	$	3,446,097
Securities held to maturity:
Obligations of state and political subdivisions	$	64,726	$	1,609	$	(133	)	$	66,202
Mortgage-backed securities	24,490		57		(817		)	23,730
Total securities held to maturity	$	89,216	$	1,666	$	(950	)	$	89,932

Additional Information on Securities in a Continuous Loss Position

Additional information on securities that have been in a continuous loss position for over twelve months at March 31, 2017 and December 31, 2016 is presented in the following table.

(Dollars in thousands)	March 31, 2017		December 31, 2016
Number of securities:
Issued by U.S. Government-sponsored enterprises	28		28
Issued by political subdivisions	—		—
Other	3		3
	31		31
Amortized Cost Basis:
Issued by U.S. Government-sponsored enterprises	$	107,140	$	112,983
Issued by political subdivisions	—		—
Other	3,663		3,903
	$	110,803	$	116,886
Unrealized Loss:
Issued by U.S. Government-sponsored enterprises	$	2,769	$	3,111
Issued by political subdivisions	—		—
Other	49		53
	$	2,818	$	3,164

Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity

The amortized cost and estimated fair value of investment securities by maturity at March 31, 2017 are presented in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Weighted average yields are calculated on the basis of the yield to maturity based on the amortized cost of each security.

	Securities Available for Sale						Securities Held to Maturity
(Dollars in thousands)	Weighted Average Yield		Amortized Cost		Estimated Fair Value		Weighted Average Yield		Amortized Cost		Estimated Fair Value
Within one year or less	1.74	%	$	27,692	$	27,625	2.87	%	$	1,896	$	1,907
One through five years	1.67		283,137		283,609		2.90		8,274		8,454
After five through ten years	2.32		789,829		786,876		3.08		22,252		22,852
Over ten years	2.26		2,756,555		2,725,843		2.83		53,596		53,600
	2.22	%	$	3,857,213	$	3,823,953	2.91	%	$	86,018	$	86,813

Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale

The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method.

	Three Months Ended March 31
(Dollars in thousands)	2017		2016
Realized gains	$	—	$	462
Realized losses	—		(266		)
	$	—	$	196

Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets

The Company accounts for the following securities at amortized cost, which approximates fair value, in “other assets” on the consolidated balance sheets:

(Dollars in thousands)	March 31, 2017		December 31, 2016
Federal Home Loan Bank (FHLB) stock	$	37,415	$	42,326
Federal Reserve Bank (FRB) stock	48,584		48,584
Other investments	3,008		2,808
	$	89,007	$	93,718

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Loans (Tables)

3 Months Ended

Mar. 31, 2017

Dec. 31, 2016

Receivables [Abstract]

Schedule of Non-Covered and Covered Loans

Loans consist of the following, segregated into legacy and acquired loans, for the periods indicated:

	March 31, 2017
(Dollars in thousands)	Legacy Loans		Acquired Loans		Total
Commercial loans:
Real estate	$	5,878,509	$	1,099,365	$	6,977,874
Commercial and industrial	3,140,205		315,373		3,455,578
Energy-related	562,515		1,108		563,623
	9,581,229		1,415,846		10,997,075
Residential mortgage loans:	901,859		394,499		1,296,358
Consumer and other loans:
Home equity	1,797,123		349,673		2,146,796
Indirect automobile	110,174		26		110,200
Other	533,059		48,714		581,773
	2,440,356		398,413		2,838,769
Total	$	12,923,444	$	2,208,758	$	15,132,202

	December 31, 2016
(Dollars in thousands)	Legacy Loans		Acquired Loans		Total
Commercial loans:
Real estate	$	5,623,314	$	1,178,952	$	6,802,266
Commercial and industrial	3,194,796		348,326		3,543,122
Energy-related	559,289		1,904		561,193
	9,377,399		1,529,182		10,906,581
Residential mortgage loans:	854,216		413,184		1,267,400
Consumer and other loans:
Home equity	1,783,421		372,505		2,155,926
Indirect automobile	131,048		4		131,052
Other	548,840		55,172		604,012
	2,463,309		427,681		2,890,990
Total	$	12,694,924	$	2,370,047	$	15,064,971

Schedule of Aging of Loans

The following tables provide an analysis of the aging of loans as of March 31, 2017 and December 31, 2016. Due to the difference in accounting for acquired loans, the tables below further segregate the Company’s loans between loans originated, or renewed and underwritten by the Company ("legacy loans") and acquired loans.

	March 31, 2017
	Legacy loans
	Accruing
(Dollars in thousands)	Current or less than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Total Loans
Commercial real estate - Construction	$	880,721	$	187	$	1,431	$	—	$	1,618	$	—	$	882,339
Commercial real estate - Other	4,973,144		4,432		586		537		5,555		17,471		4,996,170
Commercial and industrial	3,102,314		6,399		224		373		6,996		30,895		3,140,205
Energy-related	447,128		—		—		2,175		2,175		113,212		562,515
Residential mortgage	884,571		2,692		1,628		—		4,320		12,968		901,859
Consumer - Home equity	1,779,409		7,868		1,945		—		9,813		7,901		1,797,123
Consumer - Indirect automobile	107,519		1,333		299		—		1,632		1,023		110,174
Consumer - Credit card	82,636		350		190		—		540		436		83,612
Consumer - Other	445,538		2,141		581		15		2,737		1,172		449,447
Total	$	12,702,980	$	25,402	$	6,884	$	3,100	$	35,386	$	185,078	$	12,923,444

	December 31, 2016
	Legacy loans
	Accruing
(Dollars in thousands)	Current or less than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Total Loans
Commercial real estate - Construction	$	740,761	$	—	$	—	$	—	$	—	$	—	$	740,761
Commercial real estate - Other	4,863,902		1,861		351		—		2,212		16,439		4,882,553
Commercial and industrial	3,158,700		3,999		870		—		4,869		31,227		3,194,796
Energy-related	407,434		—		1,526		—		1,526		150,329		559,289
Residential mortgage	836,509		2,012		1,577		1,104		4,693		13,014		854,216
Consumer - Home equity	1,768,763		5,249		1,430		—		6,679		7,979		1,783,421
Consumer - Indirect automobile	127,054		2,551		405		—		2,956		1,038		131,048
Consumer - Credit card	81,602		199		99		—		298		624		82,524
Consumer - Other	462,650		2,155		618		—		2,773		893		466,316
Total	$	12,447,375	$	18,026	$	6,876	$	1,104	$	26,006	$	221,543	$	12,694,924

	March 31, 2017
	Acquired loans (1) (2)
	Accruing
(Dollars in thousands)	Current or Less Than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Discount/Premium			Acquired Impaired Loans		Total Loans
Commercial real estate - Construction	$	25,425	$	—	$	—	$	—	$	—	$	1,946	$	(202	)	$	34,787	$	61,956
Commercial real estate - Other	811,160		—		314		3,684		3,998		957		(3,258		)	224,552		1,037,409
Commercial and industrial	280,869		287		111		1,196		1,594		1,101		(745		)	32,554		315,373
Energy-related	956		—		157		—		157		—		(5		)	—		1,108
Residential mortgage	278,684		919		543		—		1,462		789		(1,729		)	115,293		394,499
Consumer - Home equity	266,706		1,078		222		—		1,300		1,367		(4,826		)	85,126		349,673
Consumer - Indirect automobile	19		—		—		—		—		—		—			7		26
Consumer - Credit Card	—		—		—		—		—		—		—			501		501
Consumer - Other	44,026		218		37		—		255		344		(931		)	4,519		48,213
Total	$	1,707,845	$	2,502	$	1,384	$	4,880	$	8,766	$	6,504	$	(11,696	)	$	497,339	$	2,208,758

	December 31, 2016
	Acquired loans (1) (2)
	Accruing
(Dollars in thousands)	Current or Less Than 30 days past due		30-59 days		60-89 days		> 90 days		Total Past Due		Non-accrual Loans		Discount/Premium			Acquired Impaired Loans		Total Loans
Commercial real estate - Construction	$	26,714	$	—	$	—	$	—	$	—	$	1,946	$	(243	)	$	32,991	$	61,408
Commercial real estate - Other	871,492		716		55		32		803		1,221		(3,649		)	247,677		1,117,544
Commercial and industrial	314,990		73		51		—		124		1,317		(837		)	32,732		348,326
Energy-related	1,910		—		—		—		—		—		(6		)	—		1,904
Residential mortgage	290,031		328		989		—		1,317		719		(1,835		)	122,952		413,184
Consumer - Home equity	286,411		1,078		189		250		1,517		1,395		(5,237		)	88,419		372,505
Consumer - Indirect automobile	—		—		—		—		—		—		—			4		4
Consumer - Credit Card	468		—		—		—		—		—		—			—		468
Consumer - Other	49,449		391		97		—		488		360		(1,004		)	5,411		54,704
Total	$	1,841,465	$	2,586	$	1,381	$	282	$	4,249	$	6,958	$	(12,811	)	$	530,186	$	2,370,047

⁽¹⁾  Past due and non-accrual information presents acquired loans at the gross loan balance, prior to application of discounts.

⁽²⁾  Past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.

Summary of Changes in Accretable Yields of Acquired Loans

The following is a summary of changes in the accretable difference for all loans accounted for under ASC 310-30 during the three months ended March 31:

(Dollars in thousands)	2017			2016
Balance at beginning of period	$	175,054		$	227,502
Transfers from non-accretable difference to accretable yield	2,071			2,106
Accretion	(14,596		)	(18,412		)
Changes in expected cash flows not affecting non-accretable differences (1)	1,060			8,688
Balance at end of period	$	163,589		$	219,884

⁽¹⁾  Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, modifications, changes in interest rates and changes in prepayment assumptions.

Schedule of Modified TDRs

The following table provides information on how the TDRs were modified during the three months ended March 31, 2017 and 2016:

(Dollars in thousands)	2017		2016
Extended maturities	$	7,199	$	3,061
Maturity and interest rate adjustment	3,224		253
Movement to or extension of interest-rate only payments	1,290		—
Forbearance	1,220		5,296
Other concession(s) (1)	232		36,172
Total	$	13,165	$	44,782

⁽¹⁾  Other concessions may include covenant waivers, forgiveness of principal or interest associated with a customer bankruptcy, or a combination of any of the above concessions.

Schedule of Subsequently Defaulted TDRs

The following table presents the end of period balance for loans modified in a TDR during the three months ended March 31:

	2017					2016
(In thousands, except number of loans)	Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment		Number of Loans	Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment
Commercial real estate	10	$	4,871	$	4,854	9	$	1,228	$	1,228
Commercial and industrial	15	435		427		14	4,927		4,737
Energy-related	—	—		—		9	33,925		33,925
Residential mortgage	4	259		241		15	3,295		3,219
Consumer - Home equity	37	6,622		6,607		22	1,372		1,316
Consumer - Indirect	13	184		174		—	—		—
Consumer - Other	22	867		862		25	442		357
Total	101	$	13,238	$	13,165	94	$	45,189	$	44,782

Information detailing TDRs that defaulted during the three months ended March 31, 2017 and 2016, and were modified in the previous twelve months (i.e., the twelve months prior to the default) is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter.

	March 31, 2017			March 31, 2016
(In thousands, except number of loans)	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Commercial real estate	16	$	13,583	9	$	1,228
Commercial and industrial	20	1,411		9	1,627
Energy-related	5	9,082		1	2,250
Residential mortgage	22	1,793		15	3,218
Consumer - Home Equity	31	1,337		10	595
Consumer - Indirect automobile	43	517		—	—
Consumer - Other	25	693		7	170
Total	162	$	28,416	51	$	9,088

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Allowance for Credit Losses and Credit Quality (Tables)

3 Months Ended

Mar. 31, 2017

Mar. 31, 2016

Receivables [Abstract]

Schedule of Allowance for Loan Losses for Covered and Non-Covered Loan Portfolios

A summary of changes in the allowance for credit losses for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Legacy Loans			Acquired Loans			Total
Allowance for credit losses
Allowance for loan losses at beginning of period	$	105,569		$	39,150		$	144,719
Provision for (Reversal of) loan losses	6,566			(412		)	6,154
Transfer of balance to OREO and other	—			73			73
Loans charged-off	(7,202		)	(89		)	(7,291		)
Recoveries	880			355			1,235
Allowance for loan losses at end of period	$	105,813		$	39,077		$	144,890
Reserve for unfunded commitments at beginning of period	$	11,241		$	—		$	11,241
Provision for unfunded lending commitments	419			—			419
Reserve for unfunded commitments at end of period	$	11,660		$	—		$	11,660
Allowance for credit losses at end of period	$	117,473		$	39,077		$	156,550

	2016
	Legacy Loans			Acquired Loans			Total
Allowance for credit losses
Allowance for loan losses at beginning of period	$	93,808		$	44,570		$	138,378
Provision for (Reversal of) loan losses before benefit attributable to FDIC loss share agreements	15,908			(1,261		)	14,647
Adjustment attributable to FDIC loss share arrangements	—			258			258
Net provision for (Reversal of) loan losses	15,908			(1,003		)	14,905
Adjustment attributable to FDIC loss share arrangements	—			(258		)	(258		)
Transfer of balance to OREO and other	—			(2,459		)	(2,459		)
Loans charged-off	(5,389		)	(171		)	(5,560		)
Recoveries	1,247			304			1,551
Allowance for loan losses at end of period	$	105,574		$	40,983		$	146,557
Reserve for unfunded commitments at beginning of period	$	14,145		$	—		$	14,145
Provision for (Reversal of) unfunded lending commitments	(112		)	—			(112		)
Reserve for unfunded commitments at end of period	$	14,033		$	—		$	14,033
Allowance for credit losses at end of period	$	119,607		$	40,983		$	160,590

A summary of changes in the allowance for credit losses for legacy loans, by loan portfolio type, for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	25,408		$	35,434		$	22,486		$	3,835		$	18,406		$	105,569
Provision for (Reversal of) loan losses	1,948			1,951			490			(623		)	2,800			6,566
Transfer of balance to OREO and other	—			—			—			—			—			—
Loans charged off	(95		)	(917		)	(2,845		)	(22		)	(3,323		)	(7,202		)
Recoveries	87			49			—			43			701			880
Allowance for loan losses at end of period	$	27,348		$	36,517		$	20,131		$	3,233		$	18,584		$	105,813
Reserve for unfunded commitments at beginning of period	$	3,206		$	3,535		$	1,003		$	657		$	2,840		$	11,241
Provision for (Reversal of) unfunded commitments	1,377			(83		)	(800		)	(49		)	(26		)	419
Reserve for unfunded commitments at end of period	$	4,583		$	3,452		$	203		$	608		$	2,814		$	11,660
Allowance on loans individually evaluated for impairment	$	1,222		$	13,860		$	10,446		$	98		$	1,679		$	27,305
Allowance on loans collectively evaluated for impairment	26,126			22,657			9,685			3,135			16,905			78,508
Loans, net of unearned income:
Balance at end of period	$	5,878,509		$	3,140,205		$	562,515		$	901,859		$	2,440,356		$	12,923,444
Balance at end of period individually evaluated for impairment	46,203			40,380			142,398			4,583			23,468			257,032
Balance at end of period collectively evaluated for impairment	5,832,306			3,099,825			420,117			897,276			2,416,888			12,666,412

	2016
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	24,658		$	23,283		$	23,863		$	3,947		$	18,057		$	93,808
Provision for (Reversal of) loan losses	1,297			(2,431		)	14,533			(115		)	2,624			15,908
Loans charged off	(1,738		)	(225		)	—			(14		)	(3,412		)	(5,389		)
Recoveries	487			30			—			18			712			1,247
Allowance for loan losses at end of period	$	24,704		$	20,657		$	38,396		$	3,836		$	17,981		$	105,574
Reserve for unfunded commitments at beginning of period	$	4,160		$	3,448		$	2,665		$	830		$	3,042		$	14,145
Provision for (Reversal of) unfunded commitments	(297		)	1,952			(1,766		)	(24		)	23			(112		)
Reserve for unfunded commitments at end of period	$	3,863		$	5,400		$	899		$	806		$	3,065		$	14,033
Allowance on loans individually evaluated for impairment	$	695		$	488		$	10,918		$	72		$	809		$	12,982
Allowance on loans collectively evaluated for impairment	24,009			20,169			27,478			3,764			17,172			92,592
Loans, net of unearned income:
Balance at end of period	$	4,771,690		$	2,926,686		$	728,778		$	730,621		$	2,370,922		$	11,528,697
Balance at end of period individually evaluated for impairment	26,608			23,302			79,417			2,724			5,909			137,960
Balance at end of period collectively evaluated for impairment	4,745,082			2,903,384			649,361			727,897			2,365,013			11,390,737

A summary of changes in the allowance for loan losses for acquired loans, by loan portfolio type, for the three months ended March 31 is as follows:

	2017
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	23,574		$	3,230		$	39		$	7,412		$	4,895		$	39,150
Provision for (Reversal of) loan losses	(84		)	63			(26		)	(437		)	72			(412		)
Transfer of balance to OREO and other	377			(350		)	—			2			44			73
Loans charged off	—			—			—			—			(89		)	(89		)
Recoveries	109			35			—			—			211			355
Allowance for loan losses at end of period	$	23,976		$	2,978		$	13		$	6,977		$	5,133		$	39,077
Allowance on loans individually evaluated for impairment	$	694		$	750		$	—		$	15		$	45		$	1,504
Allowance on loans collectively evaluated for impairment	23,282			2,228			13			6,962			5,088			37,573
Loans, net of unearned income:
Balance at end of period	$	1,099,365		$	315,373		$	1,108		$	394,499		$	398,413		$	2,208,758
Balance at end of period individually evaluated for impairment	7,966			1,810			—			464			1,840			12,080
Balance at end of period collectively evaluated for impairment	832,060			281,009			1,108			278,742			306,420			1,699,339
Balance at end of period acquired with deteriorated credit quality	259,339			32,554			—			115,293			90,153			497,339

	2016
(Dollars in thousands)	Commercial Real Estate			Commercial and Industrial			Energy-related			Residential Mortgage			Consumer			Total
Allowance for loan losses at beginning of period	$	25,979		$	2,819		$	125		$	7,841		$	7,806		$	44,570
Provision for (Reversal of) loan losses	(598		)	194			(25		)	662			(1,236		)	(1,003		)
Increase (Decrease) in FDIC loss share receivable	2			(34		)	—			(35		)	(191		)	(258		)
Transfer of balance to OREO and other	(1,574		)	(343		)	—			(70		)	(472		)	(2,459		)
Loans charged off	—			(30		)	—			—			(141		)	(171		)
Recoveries	55			108			—			25			116			304
Allowance for loan losses at end of period	$	23,864		$	2,714		$	100		$	8,423		$	5,882		$	40,983
Allowance on loans individually evaluated for impairment	$	41		$	5		$	—		$	—		$	50		$	96
Allowance on loans collectively evaluated for impairment	23,823			2,709			100			8,423			5,832			40,887
Loans, net of unearned income:
Balance at end of period	$	1,458,938		$	447,696		$	2,884		$	477,770		$	535,259		$	2,922,547
Balance at end of period individually evaluated for impairment	911			1,582			34			—			4,718			7,245
Balance at end of period collectively evaluated for impairment	1,088,713			409,561			2,850			340,278			414,902			2,256,304
Balance at end of period acquired with deteriorated credit quality	369,314			36,553			—			137,492			115,639			658,998

Investment in Legacy and Acquired Loans by Credit Quality Indicator

The Company’s investment in loans by credit quality indicator is presented in the following tables. The tables below further segregate the Company’s loans between loans that were originated, or renewed and underwritten by the Company (legacy loans) and acquired loans. Loan premiums/discounts in the tables below represent the adjustment of acquired loans to fair value at the acquisition date, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. Asset risk classifications for commercial loans reflect the classification as of March 31, 2017 and December 31, 2016. Credit quality information in the tables below includes total loans acquired (including acquired impaired loans) at the gross loan balance, prior to the application of premiums/discounts, at March 31, 2017 and December 31, 2016.

Loan delinquency is the primary credit quality indicator that the Company utilizes to monitor consumer asset quality.

	Legacy loans
	March 31, 2017										December 31, 2016
(Dollars in thousands)	Pass		Special Mention		Sub- standard		Doubtful		Total		Pass		Special Mention		Sub- standard		Doubtful		Total
Commercial real estate - Construction	$	876,872	$	1,119	$	4,348	$	—	$	882,339	$	734,687	$	2,203	$	3,871	$	—	$	740,761
Commercial real estate - Other	4,882,222		52,083		61,865		—		4,996,170		4,801,494		26,159		54,900		—		4,882,553
Commercial and industrial	3,064,306		31,615		27,014		17,270		3,140,205		3,112,300		29,763		35,199		17,534		3,194,796
Energy-related	314,975		65,469		153,186		28,885		562,515		242,123		80,084		225,724		11,358		559,289
Total	$	9,138,375	$	150,286	$	246,413	$	46,155	$	9,581,229	$	8,890,604	$	138,209	$	319,694	$	28,892	$	9,377,399

	Legacy loans
	March 31, 2017						December 31, 2016
(Dollars in thousands)	Current		30+ Days Past Due		Total		Current		30+ Days Past Due		Total
Residential mortgage	$	884,571	$	17,288	$	901,859	$	836,509	$	17,707	$	854,216
Consumer - Home equity	1,779,409		17,714		1,797,123		1,768,763		14,658		1,783,421
Consumer - Indirect automobile	107,519		2,655		110,174		127,054		3,994		131,048
Consumer - Credit card	82,636		976		83,612		81,602		922		82,524
Consumer - Other	445,538		3,909		449,447		462,650		3,666		466,316
Total	$	3,299,673	$	42,542	$	3,342,215	$	3,276,578	$	40,947	$	3,317,525

	Acquired loans
	March 31, 2017													December 31, 2016
(Dollars in thousands)	Pass		Special Mention		Sub-standard		Doubtful		Premium/(Discount)			Total		Pass		Special Mention		Sub-standard		Doubtful		Loss		Premium/(Discount)			Total
Commercial real estate - Construction	$	45,192	$	472	$	2,717	$	2,574	$	11,001		$	61,956	$	46,498	$	459	$	3,118	$	2,574	$	—	$	8,759		$	61,408
Commercial real estate - Other	1,014,057		15,408		46,451		1,475		(39,982		)	1,037,409		1,090,063		19,284		49,136		1,457		23		(42,419		)	1,117,544
Commercial and industrial	293,402		5,407		18,030		403		(1,869		)	315,373		323,154		1,416		27,749		494		—		(4,487		)	348,326
Energy-related	1,113		—		—		—		(5		)	1,108		1,910		—		—		—		—		(6		)	1,904
Total	$	1,353,764	$	21,287	$	67,198	$	4,452	$	(30,855	)	$	1,415,846	$	1,461,625	$	21,159	$	80,003	$	4,525	$	23	$	(38,153	)	$	1,529,182

	Acquired loans
	March 31, 2017									December 31, 2016
(Dollars in thousands)	Current		30+ Days Past Due		Premium (Discount)			Total		Current		30+ Days Past Due		Premium (Discount)			Total
Residential mortgage	$	404,276	$	19,268	$	(29,045	)	$	394,499	$	424,300	$	20,914	$	(32,030	)	$	413,184
Consumer - Home equity	352,836		12,971		(16,134		)	349,673		377,021		12,807		(17,323		)	372,505
Consumer - Indirect automobile	26		—		—			26		12		—		(8		)	4
Consumer - Other	52,572		937		(4,795		)	48,714		58,141		1,423		(4,392		)	55,172
Total	$	809,710	$	33,176	$	(49,974	)	$	792,912	$	859,474	$	35,144	$	(53,753	)	$	840,865

Schedule of Investment in Legacy Impaired Loans

Information on the Company’s investment in legacy impaired loans, which include all TDRs and all other non-accrual loans evaluated or measured individually for impairment for purposes of determining the allowance for loan losses, is presented in the following tables as of and for the periods indicated.

	March 31, 2017							December 31, 2016
	Unpaid Principal Balance		Recorded Investment		Related Allowance			Unpaid Principal Balance		Recorded Investment		Related Allowance
(Dollars in thousands)
With no related allowance recorded:
Commercial real estate	$	24,203	$	24,203	$	—		$	17,299	$	16,507	$	—
Commercial and industrial	10,176		10,176		—			14,202		13,189		—
Energy-related	93,289		93,289		—			152,424		143,239		—
Residential mortgage	519		519		—			—		—		—
Consumer - Home equity	3,480		3,480		—			—		—		—
Consumer -Other	—		—		—			—		—		—
With an allowance recorded:
Commercial real estate	22,000		22,000		(1,222		)	17,688		17,524		(641		)
Commercial and industrial	30,204		30,204		(13,860		)	28,829		28,329		(10,864		)
Energy-related	49,109		49,109		(10,446		)	53,967		53,088		(9,769		)
Residential mortgage	4,392		4,064		(98		)	4,627		4,312		(144		)
Consumer - Home equity	16,605		16,229		(1,263		)	13,906		13,257		(993		)
Consumer - Indirect automobile	724		724		(139		)	1,037		758		(114		)
Consumer - Other	3,124		3,035		(277		)	2,447		2,442		(251		)
Total	$	257,825	$	257,032	$	(27,305	)	$	306,426	$	292,645	$	(22,776	)
Total commercial loans	$	228,981	$	228,981	$	(25,528	)	$	284,409	$	271,876	$	(21,274	)
Total mortgage loans	4,911		4,583		(98		)	4,627		4,312		(144		)
Total consumer loans	23,933		23,468		(1,679		)	17,390		16,457		(1,358		)

	Three Months Ended March 31, 2017				Three Months Ended March 31, 2016
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
(Dollars in thousands)
With no related allowance recorded:
Commercial real estate	$	24,370	$	315	$	16,167	$	38
Commercial and industrial	10,408		92		27,540		286
Energy-related	96,664		365		53,920		513
Residential mortgage	519		4		1,289		16
Consumer - Home equity	3,480		34		—		—
With an allowance recorded:
Commercial real estate	22,076		115		10,710		83
Commercial and industrial	30,779		209		3,166		46
Energy-related	49,887		2		21,289		224
Residential mortgage	4,080		41		1,462		8
Consumer - Home equity	15,746		170		5,188		51
Consumer - Indirect automobile	766		7		190		1
Consumer - Other	3,078		49		391		7
Total	$	261,853	$	1,403	$	141,312	$	1,273
Total commercial loans	$	234,184	$	1,098	$	132,792	$	1,190
Total mortgage loans	4,599		45		2,751		24
Total consumer loans	23,070		260		5,769		59

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Goodwill and Other Acquired Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

Changes to the carrying amount of goodwill by reporting unit for the three months ended March 31, 2017, and the year ended December 31, 2016 are provided in the following table.

(Dollars in thousands)	IBERIABANK		IMC		LTC		Total
Balance, December 31, 2015	$	696,260	$	23,178	$	5,165	$	724,603
Goodwill adjustments during the year	2,253		—		—		2,253
Balance, December 31, 2016	$	698,513	$	23,178	$	5,165	$	726,856
Goodwill adjustments during the year	—		—		—		—
Balance, March 31, 2017	$	698,513	$	23,178	$	5,165	$	726,856

Schedule of Definite-Lived Intangible Assets

Definite-lived intangible assets had the following carrying values included in “other assets” on the Company’s consolidated balance sheets as of the periods indicated:

	March 31, 2017							December 31, 2016
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Core deposit intangibles	$	74,001	$	(53,887	)	$	20,114	$	74,001	$	(52,165	)	$	21,836
Customer relationship intangible asset	1,273		(1,036		)	237		1,348		(1,064		)	284
Non-compete agreement	63		(27		)	36		63		(22		)	41
Total	$	75,337	$	(54,950	)	$	20,387	$	75,412	$	(53,251	)	$	22,161

Schedule of Amortization Expense of Intangible Assets

Definite-lived intangible assets had the following carrying values included in “other assets” on the Company’s consolidated balance sheets as of the periods indicated:

	March 31, 2017							December 31, 2016
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Core deposit intangibles	$	74,001	$	(53,887	)	$	20,114	$	74,001	$	(52,165	)	$	21,836
Customer relationship intangible asset	1,273		(1,036		)	237		1,348		(1,064		)	284
Non-compete agreement	63		(27		)	36		63		(22		)	41
Total	$	75,337	$	(54,950	)	$	20,387	$	75,412	$	(53,251	)	$	22,161

Schedule of Mortgage Servicing Rights

Mortgage Servicing Rights

Mortgage servicing rights are recorded at the lower of cost or market value in “other assets” on the Company's consolidated balance sheets and amortized over the remaining servicing life of the loans, with consideration given to prepayment assumptions. Mortgage servicing rights had the following carrying values as of the periods indicated:

	March 31, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
(Dollars in thousands)
Mortgage servicing rights	$	7,695	$	(3,346	)	$	4,349	$	7,202	$	(3,144	)	$	4,058

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Derivative Instruments and Other Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivative Instruments

Information pertaining to outstanding derivative instruments is as follows:

	Balance Sheet Location	Asset Derivatives Fair Value				Balance Sheet Location	Liability Derivatives Fair Value
(Dollars in thousands)		March 31, 2017		December 31, 2016			March 31, 2017		December 31, 2016
Derivatives designated as hedging instruments under ASC Topic 815:
Interest rate contracts	Other assets	$	—	$	—	Other liabilities	$	—	$	525
Total derivatives designated as hedging instruments under ASC Topic 815		$	—	$	—		$	—	$	525
Derivatives not designated as hedging instruments under ASC Topic 815:
Interest rate contracts	Other assets	$	20,982	$	20,719	Other liabilities	$	17,454	$	20,719
Foreign exchange contracts	Other assets	2		27		Other liabilities	2		26
Forward sales contracts	Other assets	145		6,014		Other liabilities	1,209		794
Written and purchased options	Other assets	13,043		12,125		Other liabilities	8,361		8,098
Other contracts	Other assets	—		1		Other liabilities	42		47
Total derivatives not designated as hedging instruments under ASC Topic 815		34,172		38,886			27,068		29,684
Total		$	34,172	$	38,886		$	27,068	$	30,209

	Asset Derivatives  Notional Amount				Liability Derivatives  Notional Amount
(Dollars in thousands)	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Derivatives designated as hedging instruments under ASC Topic 815:
Interest rate contracts	$	—	$	—	$	108,500	$	108,500
Total derivatives designated as hedging instruments under ASC Topic 815	$	—	$	—	$	108,500	$	108,500
Derivatives not designated as hedging instruments under ASC Topic 815:
Interest rate contracts	$	1,065,894	$	1,033,955	$	1,065,894	$	1,033,955
Foreign exchange contracts	1,277		4,474		1,277		4,474
Forward sales contracts	32,438		229,181		270,612		120,567
Written and purchased options	348,417		289,115		172,782		154,170
Other contracts	8,708		8,784		110,485		106,518
Total derivatives not designated as hedging instruments under ASC Topic 815	$	1,456,734	$	1,565,509	$	1,621,050	$	1,419,684
Total	$	1,456,734	$	1,565,509	$	1,729,550	$	1,528,184

Offsetting Assets

The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset.

	March 31, 2017
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral  (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,982	$	(11,303	)	$	—		$	9,679
Written and purchased options	8,260		—			—			8,260
Total derivative assets subject to master netting arrangements	$	29,242	$	(11,303	)	$	—		$	17,939
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	—	$	—		$	—		$	—
Interest rate contracts not designated as hedging instruments	17,454		(11,303		)	(23		)	6,128
Total derivative liabilities subject to master netting arrangements	$	17,454	$	(11,303	)	$	(23	)	$	6,128

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.} 

	December 31, 2016
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,719	$	(9,677	)	$	—		$	11,042
Written and purchased options	8,085		—			—			8,085
Total derivative assets subject to master netting arrangements	$	28,804	$	(9,677	)	$	—		$	19,127
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	525	$	—		$	(181	)	$	344
Interest rate contracts not designated as hedging instruments	20,719		(9,677		)	(1,711		)	9,331
Total derivative liabilities subject to master netting arrangements	$	21,244	$	(9,677	)	$	(1,892	)	$	9,675

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.}

Offsetting Liabilities

The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset.

	March 31, 2017
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral  (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,982	$	(11,303	)	$	—		$	9,679
Written and purchased options	8,260		—			—			8,260
Total derivative assets subject to master netting arrangements	$	29,242	$	(11,303	)	$	—		$	17,939
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	—	$	—		$	—		$	—
Interest rate contracts not designated as hedging instruments	17,454		(11,303		)	(23		)	6,128
Total derivative liabilities subject to master netting arrangements	$	17,454	$	(11,303	)	$	(23	)	$	6,128

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.} 

	December 31, 2016
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet						Net
(Dollars in thousands)			Derivatives			Collateral (1)
Derivatives subject to master netting arrangements
Derivative assets
Interest rate contracts not designated as hedging instruments	$	20,719	$	(9,677	)	$	—		$	11,042
Written and purchased options	8,085		—			—			8,085
Total derivative assets subject to master netting arrangements	$	28,804	$	(9,677	)	$	—		$	19,127
Derivative liabilities
Interest rate contracts designated as hedging instruments	$	525	$	—		$	(181	)	$	344
Interest rate contracts not designated as hedging instruments	20,719		(9,677		)	(1,711		)	9,331
Total derivative liabilities subject to master netting arrangements	$	21,244	$	(9,677	)	$	(1,892	)	$	9,675

^{(1)  Consists of cash collateral recorded at cost, which approximates fair value, and investment securities.}

Effect of Derivatives on the Consolidated Financial Statements

At March 31, 2017 and 2016, and for the three months then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows:

													Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
			Amount of Gain (Loss) Recognized in OCI net of taxes (Effective Portion)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income net of taxes (Effective Portion)
(Dollars in thousands)
			For the Three Months Ended March 31
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships		2017		2016				2017			2016			2017		2016
	Interest rate contracts	$	163	$	(4,127	)	Other income (expense)	$	(45	)	$	—	Other income (expense)	$	—	$	—
Total		$	163	$	(4,127	)		$	(45	)	$	—		$	—	$	—

Information pertaining to the effect of derivatives not designated as hedging instruments on the consolidated financial statements as of March 31, is as follows:

	Location of Gain (Loss) Recognized in  Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
		For the Three Months Ended March 31
(Dollars in thousands)		2017			2016
Interest rate contracts (1)	Other income	$	1,117		$	2,962
Foreign exchange contracts	Other income	7			1
Forward sales contracts	Mortgage income	(360		)	(5,343		)
Written and purchased options	Mortgage income	655			3,982
Other contracts	Other income	4			—
Total		$	1,423		$	1,602

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Shareholders' Equity, Capital Ratios and Other Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2017

Dec. 31, 2016

Banking and Thrift [Abstract]

Schedule of Preferred Stock

The following table presents a summary of the Company's non-cumulative perpetual preferred stock:

							March 31, 2017		December 31, 2016
	Issuance Date	Earliest Redemption Date	Annual Dividend Rate		Liquidation Amount		Carrying Amount		Carrying Amount
					(Dollars in thousands)
Series B Preferred Stock	8/5/2015	8/1/2025	6.625	%	$	80,000	$	76,812	$	76,812
Series C Preferred Stock	5/9/2016	5/1/2026	6.600	%	57,500		55,285		55,285
					$	137,500	$	132,097	$	132,097

Actual Capital Amounts and Ratios

42825

The Company’s and IBERIABANK’s actual capital amounts and ratios as of March 31, 2017 and December 31, 2016 are presented in the following table.

(Dollars in thousands)	March 31, 2017
	Minimum				Well-Capitalized		Actual
	Amount		Ratio		Amount	Ratio	Amount		Ratio
Tier 1 Leverage
Consolidated	$	845,887	4.00	%	N/A	N/A	$	2,730,832	12.91	%
IBERIABANK	843,399		4.00		1,054,249	5.00	1,925,529		9.13
Common Equity Tier 1 (CET1) (1)
Consolidated	$	798,791	4.50	%	N/A	N/A	$	2,598,735	14.64	%
IBERIABANK	796,259		4.50		1,150,153	6.50	1,925,529		10.88
Tier 1 Risk-Based Capital (1)
Consolidated	$	1,065,054	6.00	%	N/A	N/A	$	2,730,832	15.38	%
IBERIABANK	1,061,679		6.00		1,415,572	8.00	1,925,529		10.88
Total Risk-Based Capital (1)
Consolidated	$	1,420,073	8.00	%	N/A	N/A	$	3,003,882	16.92	%
IBERIABANK	1,415,572		8.00		1,769,465	10.00	2,082,079		11.77

	December 31, 2016
	Minimum				Well-Capitalized		Actual
	Amount		Ratio		Amount	Ratio	Amount		Ratio
Tier 1 Leverage
Consolidated	$	818,440	4.00	%	N/A	N/A	$	2,221,528	10.86	%
IBERIABANK	816,152		4.00		1,020,190	5.00	1,878,703		9.21
Common Equity Tier 1 (CET1) (1)
Consolidated	$	794,334	4.50	%	N/A	N/A	$	2,089,431	11.84	%
IBERIABANK	792,111		4.50		1,144,160	6.50	1,878,703		10.67
Tier 1 Risk-Based Capital (1)
Consolidated	$	1,059,112	6.00	%	N/A	N/A	$	2,221,528	12.59	%
IBERIABANK	1,056,147		6.00		1,408,197	8.00	1,878,703		10.67
Total Risk-Based Capital (1)
Consolidated	$	1,412,149	8.00	%	N/A	N/A	$	2,493,988	14.13	%
IBERIABANK	1,408,197		8.00		1,760,246	10.00	2,034,663		11.56

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Schedule of Calculation of Basic and Diluted Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share for the periods indicated.

	Three Months Ended March 31,
(In thousands, except per share data)	2017			2016
Earnings per common share - basic:
Net income	$	50,473		$	42,769
Preferred stock dividends	(3,599		)	(2,576		)
Dividends and undistributed earnings allocated to unvested restricted shares	(346		)	(460		)
Net income allocated to common shareholders - basic	$	46,528		$	39,733
Weighted average common shares outstanding	46,123			40,711
Earnings per common share - basic	1.01			0.98
Earnings per common share - diluted:
Net income allocated to common shareholders - basic	$	46,528		$	39,733
Dividends and undistributed earnings allocated to unvested restricted shares	(37		)	(2		)
Net income allocated to common shareholders - diluted	$	46,491		$	39,731
Weighted average common shares outstanding	46,123			40,711
Dilutive potential common shares	373			54
Weighted average common shares outstanding - diluted	46,496			40,765
Earnings per common share - diluted	$	1.00		$	0.97

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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

The following table represents unvested restricted stock award and restricted share unit activity for the following periods:

	For the Three Months Ended March 31
	2017		2016
Balance at beginning of period	543,258		507,130
Granted	146,175		226,176
Forfeited	(4,105	)	(3,573	)
Earned and issued	(157,753	)	(136,126	)
Balance at end of period	527,575		593,607

The following table represents the activity related to stock options during the periods indicated:

	Number of Shares		Weighted Average Exercise Price
Outstanding options, December 31, 2016	721,538		$	55.38
Granted	70,433		85.52
Exercised	(24,457	)	53.85
Forfeited or expired	(12,539	)	75.77
Outstanding options, March 31, 2017	754,975		$	57.90
Exercisable options, March 31, 2017	509,347		$	55.78
Outstanding options, December 31, 2015	813,777		$	56.99
Granted	148,684		47.35
Exercised	(466	)	36.48
Forfeited or expired	(43,612	)	61.26
Outstanding options, March 31, 2016	918,383		$	55.24
Exercisable options, March 31, 2016	606,046		$	56.32

The following table represents phantom stock award and performance unit activity during the periods indicated.

(Dollars in thousands)	Number of share equivalents (1)		Value of share equivalents (2)
Balance, December 31, 2016	472,830		$	39,600
Granted	96,897		7,665
Forfeited share equivalents	(5,330	)	422
Vested share equivalents	(143,643	)	13,715
Balance, March 31, 2017	420,754		$	33,282
Balance, December 31, 2015	462,430		$	25,466
Granted	185,798		9,526
Forfeited share equivalents	(9,022	)	463
Vested share equivalents	(138,752	)	6,939
Balance, March 31, 2016	500,454		$	25,658

⁽¹⁾  Number of share equivalents includes all reinvested dividend equivalents for the periods indicated.

⁽²⁾  Except for share equivalents at the beginning of each period, which are based on the value at that time, and vested share payments, which are based on the cash paid at the time of vesting, the value of share equivalents is calculated based on the market price of the Company’s stock at the end of the respective periods. The market price of the Company’s stock was $79.10 and $51.27 on March 31, 2017, and 2016, respectively.

Schedule of Valuation Assumptions

The following weighted-average assumptions were used for option awards issued during the following periods:

	For the Three Months Ended March 31
	2017			2016
Expected dividends	1.7		%	2.9		%
Expected volatility	24.9		%	29.1		%
Risk-free interest rate	2.1		%	1.4		%
Expected term (in years)	5.6			6.4
Weighted-average grant-date fair value	$	18.75		$	10.05

Schedule of Allocation for Share-based Compensation Expense

The following table represents the compensation expense that is included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options for the following periods:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to stock options	$	444	$	484
Income tax benefit related to stock options	68		81

The following table represents the compensation expense that was included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to restricted stock awards and restricted share units for the periods indicated:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to restricted stock awards and restricted share units	$	3,277	$	3,386
Income tax benefit related to restricted stock awards and restricted share units	1,147		1,185

The following table indicates compensation expense recorded for phantom stock and performance units based on the number of share equivalents vested at March 31 of the years indicated and the current market price of the Company’s stock at that time:

	For the Three Months Ended March 31
(Dollars in thousands)	2017		2016
Compensation expense related to phantom stock and performance units	$	3,053	$	2,405

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Financial Asset and Liabilities Measured at Fair Value on Recurring Basis

The Company has segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to estimate the fair value at the measurement date in the tables below. See Note 1, Summary of Significant Accounting Policies, in the Annual Report on Form 10-K for the year ended December 31, 2016, for a description of how fair value measurements are determined.

	March 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	3,823,953	$	—	$	3,823,953
Mortgage loans held for sale	—		122,333		—		122,333
Derivative instruments	—		34,172		—		34,172
Total	$	—	$	3,980,458	$	—	$	3,980,458
Liabilities
Derivative instruments	$	—	$	27,068	$	—	$	27,068
Total	$	—	$	27,068	$	—	$	27,068
	December 31, 2016
	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	3,446,097	$	—	$	3,446,097
Mortgage loans held for sale	—		157,041		—		157,041
Derivative instruments	—		38,886		—		38,886
Total	$	—	$	3,642,024	$	—	$	3,642,024
Liabilities
Derivative instruments	$	—	$	30,209	$	—	$	30,209
Total	$	—	$	30,209	$	—	$	30,209

Gains and Losses Included in Earnings Related to Asset and Liabilities Measured at Fair Value on Recurring Basis

Financial Asset and Liabilities Measured at Fair Value on Nonrecurring Basis

The Company has segregated all assets and liabilities that are measured at fair value on a non-recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below.

	March 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	87,425	$	87,425
OREO, net	—		—		2,122		2,122
Total	$	—	$	—	$	89,547	$	89,547
	December 31, 2016
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	93,485	$	93,485
OREO, net	—		—		185		185
Total	$	—	$	—	$	93,670	$	93,670

Summary of Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Mortgage Loans Held for Sale

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value:

	March 31, 2017						December 31, 2016
(Dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal		Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal
Mortgage loans held for sale, at fair value	$	122,333	$	118,875	$	3,458	$	157,041	$	153,801	$	3,240

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Fair Value of Financial Instruments (Tables)

3 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Estimated Fair Values and Carrying Amounts of Financial Instruments

The carrying amount and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are included in the tables below. See Note 1, Summary of Significant Accounting Policies, in the 2016 Annual Report on Form 10-K for the year ended December 31, 2016 for a description of how fair value measurements are determined.

	March 31, 2017
(Dollars in thousands)	Carrying  Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	1,301,118	$	1,301,118	$	1,301,118	$	—	$	—
Investment securities	3,909,971		3,910,766		—		3,910,766		—
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,109,645		15,196,179		—		122,333		15,073,846
Derivative instruments	34,172		34,172		—		34,172		—
Financial Liabilities
Deposits	$	17,312,265	$	16,663,693	$	—	$	—	$	16,663,693
Short-term borrowings	448,696		448,696		368,696		80,000		—
Long-term debt	628,085		617,254		—		—		617,254
Derivative instruments	27,068		27,068		—		27,068		—
	December 31, 2016
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	1,362,126	$	1,362,126	$	1,362,126	$	—	$	—
Investment securities	3,535,313		3,536,029		—		3,536,029		—
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,077,293		15,066,055		—		157,041		14,909,014
Derivative instruments	38,886		38,886		—		38,886		—
Financial Liabilities
Deposits	$	17,408,283	$	16,762,475	$	—	$	—	$	16,762,475
Short-term borrowings	509,136		509,136		334,136		175,000		—
Long-term debt	628,953		617,656		—		—		617,656
Derivative instruments	30,209		30,209		—		30,209		—

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Business Segments (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

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, 2017
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest and dividend income	$	190,823		$	1,709		$	1		$	192,533
Interest expense	19,715			—			—			19,715
Net interest income	171,108			1,709			1			172,818
Provision for/ reversal of loan losses	6,158			(4		)	—			6,154
Mortgage income	—			14,115			—			14,115
Service charges on deposit accounts	11,153			—			—			11,153
Title revenue	—			—			4,741			4,741
Other non-interest income	17,353			(10		)	(6		)	17,337
Allocated expenses	(2,174		)	1,656			518			—
Non-interest expense	121,651			15,167			4,200			141,018
Income/(loss) before income tax expense	73,979			(1,005		)	18			72,992
Income tax expense/(benefit)	22,829			(322		)	12			22,519
Net income/(loss)	$	51,150		$	(683	)	$	6		$	50,473
Total loans and loans held for sale, net of unearned income	$	15,072,661		$	181,874		$	—		$	15,254,535
Total assets	21,774,586			209,911			23,982			22,008,479
Total deposits	17,306,328			5,937			—			17,312,265
Average assets	21,550,930			286,694			23,877			21,861,501

	Three Months Ended March 31, 2016
(Dollars in thousands)	IBERIABANK			IMC			LTC			Consolidated
Interest and dividend income	$	175,324		$	1,611		$	1		$	176,936
Interest expense	14,654			879			—			15,533
Net interest income	160,670			732			1			161,403
Provision for loan losses	14,905			—			—			14,905
Mortgage income	—			19,940			—			19,940
Service charges on deposit accounts	10,951			—			—			10,951
Title revenue	—			—			4,745			4,745
Other non-interest income	20,210			(1		)	—			20,209
Allocated expenses	(2,669		)	2,050			619			—
Non-interest expense	120,027			13,198			4,227			137,452
Income/(loss) before income tax expense	59,568			5,423			(100		)	64,891
Income tax expense/(benefit)	20,001			2,153			(32		)	22,122
Net income/(loss)	$	39,567		$	3,270		$	(68	)	$	42,769
Total loans and loans held for sale, net of unearned income	$	14,428,613		$	215,176		$	—		$	14,643,789
Total assets	19,774,092			291,893			26,578			20,092,563
Total deposits	16,256,147			4,419			—			16,260,566
Average assets	19,381,718			252,281			27,312			19,661,311

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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Summary of Financial Instruments Outstanding

At March 31, 2017 and December 31, 2016, respectively, the Company had the following financial instruments outstanding and related reserves, whose contract amounts represent credit risk:

(Dollars in thousands)	March 31, 2017		December 31, 2016
Commitments to grant loans	$	419,847	$	355,558
Unfunded commitments under lines of credit	4,912,092		4,899,930
Commercial and standby letters of credit	165,784		163,560
Reserve for unfunded lending commitments	11,660		11,241

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Summary of Significant Accounting Policies (Detail) $ in Thousands	Mar. 31, 2017 USD ($) State	Dec. 31, 2016 USD ($)
Schedule Of Significant Accounting Policies
Maximum loss exposure related to unconsolidated VIE's | $	$ 92,000	$ 91,000
Other assets | $	$ 656,911	$ 651,229
IBERIABANK Corporation
Schedule Of Significant Accounting Policies
Number of operating states | State	8
IMC
Schedule Of Significant Accounting Policies
Number of operating states | State	10

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Investment Securities - Schedule of Amortized Cost and Fair Values of Investment Securities, with Gross Unrealized Gains and Losses (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities
Amortized cost	$ 3,857,213	$ 3,486,274
Gross unrealized gain	8,781	7,374
Gross unrealized losses	(42,041)	(47,551)
Estimated fair value	3,823,953	3,446,097
Schedule of Held-to-maturity Securities
Amortized cost	86,018	89,216
Gross unrealized gains	1,737	1,666
Gross unrealized losses	(942)	(950)
Estimated fair value	86,813	89,932
Fair value of securities held as collateral	1,600,000	1,500,000
U.S. Government-Sponsored Enterprise Obligations
Schedule of Available-for-sale Securities
Amortized cost	212,430	212,662
Gross unrealized gain	199	245
Gross unrealized losses	(463)	(549)
Estimated fair value	212,166	212,358
Obligations of State and Political Subdivisions
Schedule of Available-for-sale Securities
Amortized cost	297,712	286,458
Gross unrealized gain	3,190	1,948
Gross unrealized losses	(3,812)	(5,207)
Estimated fair value	297,090	283,199
Schedule of Held-to-maturity Securities
Amortized cost	62,315	64,726
Gross unrealized gains	1,682	1,609
Gross unrealized losses	(99)	(133)
Estimated fair value	63,898	66,202
Mortgage-Backed Securities
Schedule of Available-for-sale Securities
Amortized cost	3,238,530	2,888,180
Gross unrealized gain	4,937	4,820
Gross unrealized losses	(37,505)	(41,291)
Estimated fair value	3,205,962	2,851,709
Schedule of Held-to-maturity Securities
Amortized cost	23,703	24,490
Gross unrealized gains	55	57
Gross unrealized losses	(843)	(817)
Estimated fair value	22,915	23,730
Other Securities
Schedule of Available-for-sale Securities
Amortized cost	108,541	98,974
Gross unrealized gain	455	361
Gross unrealized losses	(261)	(504)
Estimated fair value	$ 108,735	$ 98,831

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Investment Securities - Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Gross Unrealized Losses
Less than twelve months	$ (39,708)	$ (44,874)
Over twelve months	(2,333)	(2,677)
Total	(42,041)	(47,551)
Estimated Fair Value
Less than twelve months	2,644,455	2,526,660
Over twelve months	97,619	102,762
Total	2,742,074	2,629,422
Gross Unrealized Losses
Less than twelve months	(457)	(463)
Over twelve months	(485)	(487)
Total	(942)	(950)
Estimated Fair Value
Less than twelve months	17,079	22,890
Over twelve months	10,366	10,960
Total	27,445	33,850
U.S. Government-Sponsored Enterprise Obligations
Gross Unrealized Losses
Less than twelve months	(463)	(549)
Over twelve months	0	0
Total	(463)	(549)
Estimated Fair Value
Less than twelve months	150,412	150,554
Over twelve months	0	0
Total	150,412	150,554
Obligations of State and Political Subdivisions
Gross Unrealized Losses
Less than twelve months	(3,812)	(5,207)
Over twelve months	0	0
Total	(3,812)	(5,207)
Estimated Fair Value
Less than twelve months	101,543	148,059
Over twelve months	0	0
Total	101,543	148,059
Mortgage-Backed Securities
Gross Unrealized Losses
Less than twelve months	(35,221)	(38,667)
Over twelve months	(2,284)	(2,624)
Total	(37,505)	(41,291)
Estimated Fair Value
Less than twelve months	2,349,545	2,191,563
Over twelve months	94,005	98,912
Total	2,443,550	2,290,475
Other Securities
Gross Unrealized Losses
Less than twelve months	(212)	(451)
Over twelve months	(49)	(53)
Total	(261)	(504)
Estimated Fair Value
Less than twelve months	42,955	36,484
Over twelve months	3,614	3,850
Total	46,569	40,334
Obligations of State and Political Subdivisions
Gross Unrealized Losses
Less than twelve months	(99)	(133)
Over twelve months	0	0
Total	(99)	(133)
Estimated Fair Value
Less than twelve months	4,986	10,602
Over twelve months	0	0
Total	4,986	10,602
Mortgage-Backed Securities
Gross Unrealized Losses
Less than twelve months	(358)	(330)
Over twelve months	(485)	(487)
Total	(843)	(817)
Estimated Fair Value
Less than twelve months	12,093	12,288
Over twelve months	10,366	10,960
Total	$ 22,459	$ 23,248

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Investment Securities - Additional Information on Securities in a Continuous Loss Position (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017 USD ($) Security	Dec. 31, 2016 USD ($) Security
Schedule of Available-for-sale Securities
Number of debt securities with unrealized losses | Security	393	397
Debt securities with unrealized losses (percentage of amortized cost)	1.53%	1.79%
Number of securities | Security	31	31
Amortized cost basis	$ 110,803	$ 116,886
Unrealized loss	$ 2,818	$ 3,164
Fannie Mae, Freddie Mac, or Ginnie Mae
Schedule of Available-for-sale Securities
Number of securities | Security	28	28
Amortized cost basis	$ 107,140	$ 112,983
Unrealized loss	$ 2,769	$ 3,111
Political Subdivisions
Schedule of Available-for-sale Securities
Number of securities | Security	0	0
Amortized cost basis	$ 0	$ 0
Unrealized loss	$ 0	$ 0
Other
Schedule of Available-for-sale Securities
Number of securities | Security	3	3
Amortized cost basis	$ 3,663	$ 3,903
Unrealized loss	$ 49	$ 53

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Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Weighted Average Yield
Within one year or less	1.74%
One through five years	1.67%
After five through ten years	2.32%
Over ten years	2.26%
Weighted average yield	2.22%
Amortized Cost
Within one year or less	$ 27,692
One through five years	283,137
After five through ten years	789,829
Over ten years	2,756,555
Amortized cost	3,857,213
Estimated Fair Value
Within one year or less	27,625
One through five years	283,609
After five through ten years	786,876
Over ten years	2,725,843
Estimated fair value	$ 3,823,953	$ 3,446,097
Weighted Average Yield
Within one year or less	2.87%
One through five years	2.90%
After five through ten years	3.08%
Over ten years	2.83%
Weighted average yield	2.91%
Amortized Cost
Within one year or less	$ 1,896
One through five years	8,274
After five through ten years	22,252
Over ten years	53,596
Amortized cost	86,018	89,216
Estimated Fair Value
Within one year or less	1,907
One through five years	8,454
After five through ten years	22,852
Over ten years	53,600
Estimated fair value	$ 86,813	$ 89,932

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Investment Securities - Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Realized gains	$ 0	$ 462
Realized losses	0	(266)
Net realized gains (losses)	$ 0	$ 196

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Investment Securities - Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Federal Home Loan Bank (FHLB) stock	$ 37,415	$ 42,326
Federal Reserve Bank Stock	48,584	48,584
Other Investments	3,008	2,808
Marketable Securities, Equity Securities	$ 89,007	$ 93,718

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Loans - Schedule of Non-Covered Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	$ 15,132,202	$ 15,064,971
Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	10,997,075	10,906,581
Commercial Loans | Real Estate
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	6,977,874	6,802,266
Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	3,455,578	3,543,122
Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	563,623	561,193
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	1,296,358	1,267,400
Consumer and Other Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	2,838,769	2,890,990
Consumer and Other Loans | Home Equity
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	2,146,796	2,155,926
Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	110,200	131,052
Consumer and Other Loans | Other
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	581,773	604,012
Legacy Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	12,923,444	12,694,924
Legacy Loans | Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	9,581,229	9,377,399
Legacy Loans | Commercial Loans | Real Estate
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	5,878,509	5,623,314
Legacy Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	3,140,205	3,194,796
Legacy Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	562,515	559,289
Legacy Loans | Residential Mortgage
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	901,859	854,216
Legacy Loans | Consumer and Other Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	2,440,356	2,463,309
Legacy Loans | Consumer and Other Loans | Home Equity
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	1,797,123	1,783,421
Legacy Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	110,174	131,048
Legacy Loans | Consumer and Other Loans | Other
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	533,059	548,840
Acquired Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	2,208,758	2,370,047
Acquired Loans | Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	1,415,846	1,529,182
Acquired Loans | Commercial Loans | Real Estate
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	1,099,365	1,178,952
Acquired Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	315,373	348,326
Acquired Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	1,108	1,904
Acquired Loans | Residential Mortgage
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	394,499	413,184
Acquired Loans | Consumer and Other Loans
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	398,413	427,681
Acquired Loans | Consumer and Other Loans | Home Equity
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	349,673	372,505
Acquired Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	26	4
Acquired Loans | Consumer and Other Loans | Other
Accounts, Notes, Loans and Financing Receivable
Total loans, net of unearned income	$ 48,714	$ 55,172

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Loans (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable
Deferred loan origination fees	$ 22.6	$ 0.0
Deposit liabilities reclassified as loans receivable	4.0	$ 4.2
Loans with carrying value pledged to secure public deposits and other borrowings	$ 4,500.0

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Loans - Schedule of Aging of Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable
Acquired Impaired Loans	$ 257,825	$ 306,426
Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Acquired Impaired Loans	228,981	284,409
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable
Acquired Impaired Loans	4,911	4,627
Consumer and Other Loans
Accounts, Notes, Loans and Financing Receivable
Acquired Impaired Loans	23,933	17,390
Acquired Loans
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	1,707,845	1,841,465
Accruing	8,766	4,249
Non-accrual Loans	6,504	6,958
Discount/Premium	(11,696)	(12,811)
Acquired Impaired Loans	497,339	530,186
Total Loans	2,208,758	2,370,047
Acquired Loans | Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Total Loans	1,415,846	1,529,182
Acquired Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	25,425	26,714
Accruing	0	0
Non-accrual Loans	1,946	1,946
Discount/Premium	(202)	(243)
Acquired Impaired Loans	34,787	32,991
Total Loans	61,956	61,408
Acquired Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	811,160	871,492
Accruing	3,998	803
Non-accrual Loans	957	1,221
Discount/Premium	(3,258)	(3,649)
Acquired Impaired Loans	224,552	247,677
Total Loans	1,037,409	1,117,544
Acquired Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	280,869	314,990
Accruing	1,594	124
Non-accrual Loans	1,101	1,317
Discount/Premium	(745)	(837)
Acquired Impaired Loans	32,554	32,732
Total Loans	315,373	348,326
Acquired Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	956	1,910
Accruing	157	0
Non-accrual Loans	0	0
Discount/Premium	(5)	(6)
Acquired Impaired Loans	0	0
Total Loans	1,108	1,904
Acquired Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	404,276	424,300
Current or Less Than 30 days past due	278,684	290,031
Accruing	1,462	1,317
Non-accrual Loans	789	719
Discount/Premium	(1,729)	(1,835)
Acquired Impaired Loans	115,293	122,952
Total Loans	394,499	413,184
Acquired Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	352,836	377,021
Current or Less Than 30 days past due	266,706	286,411
Accruing	1,300	1,517
Non-accrual Loans	1,367	1,395
Discount/Premium	(4,826)	(5,237)
Acquired Impaired Loans	85,126	88,419
Total Loans	349,673	372,505
Acquired Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	26	12
Current or Less Than 30 days past due	19	0
Accruing	0	0
Non-accrual Loans	0	0
Discount/Premium	0	0
Acquired Impaired Loans	7	4
Total Loans	26	4
Acquired Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	0	468
Accruing	0	0
Non-accrual Loans	0	0
Discount/Premium	0	0
Acquired Impaired Loans	501	0
Total Loans	501	468
Acquired Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Current or Less Than 30 days past due	44,026	49,449
Accruing	255	488
Non-accrual Loans	344	360
Discount/Premium	(931)	(1,004)
Acquired Impaired Loans	4,519	5,411
Total Loans	48,213	54,704
Legacy Loans
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	12,702,980	12,447,375
Accruing	35,386	26,006
Non-accrual Loans	185,078	221,543
Total Loans	12,923,444	12,694,924
Legacy Loans | Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Total Loans	9,581,229	9,377,399
Legacy Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	880,721	740,761
Accruing	1,618	0
Non-accrual Loans	0	0
Total Loans	882,339	740,761
Legacy Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	4,973,144	4,863,902
Accruing	5,555	2,212
Non-accrual Loans	17,471	16,439
Total Loans	4,996,170	4,882,553
Legacy Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	3,102,314	3,158,700
Accruing	6,996	4,869
Non-accrual Loans	30,895	31,227
Total Loans	3,140,205	3,194,796
Legacy Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	447,128	407,434
Accruing	2,175	1,526
Non-accrual Loans	113,212	150,329
Total Loans	562,515	559,289
Legacy Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	884,571	836,509
Accruing	4,320	4,693
Non-accrual Loans	12,968	13,014
Total Loans	901,859	854,216
Legacy Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	1,779,409	1,768,763
Accruing	9,813	6,679
Non-accrual Loans	7,901	7,979
Total Loans	1,797,123	1,783,421
Legacy Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	107,519	127,054
Accruing	1,632	2,956
Non-accrual Loans	1,023	1,038
Total Loans	110,174	131,048
Legacy Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	82,636	81,602
Accruing	540	298
Non-accrual Loans	436	624
Total Loans	83,612	82,524
Legacy Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Current or less than 30 days past due	445,538	462,650
Accruing	2,737	2,773
Non-accrual Loans	1,172	893
Total Loans	449,447	466,316
30-59 days | Acquired Loans
Accounts, Notes, Loans and Financing Receivable
Accruing	2,502	2,586
30-59 days | Acquired Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
30-59 days | Acquired Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	0	716
30-59 days | Acquired Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Accruing	287	73
30-59 days | Acquired Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
30-59 days | Acquired Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Accruing	919	328
30-59 days | Acquired Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Accruing	1,078	1,078
30-59 days | Acquired Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
30-59 days | Acquired Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
30-59 days | Acquired Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	218	391
30-59 days | Legacy Loans
Accounts, Notes, Loans and Financing Receivable
Accruing	25,402	18,026
30-59 days | Legacy Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Accruing	187	0
30-59 days | Legacy Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	4,432	1,861
30-59 days | Legacy Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Accruing	6,399	3,999
30-59 days | Legacy Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
30-59 days | Legacy Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Accruing	2,692	2,012
30-59 days | Legacy Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Accruing	7,868	5,249
30-59 days | Legacy Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Accruing	1,333	2,551
30-59 days | Legacy Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Accruing	350	199
30-59 days | Legacy Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	2,141	2,155
60-89 days | Acquired Loans
Accounts, Notes, Loans and Financing Receivable
Accruing	1,384	1,381
60-89 days | Acquired Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
60-89 days | Acquired Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	314	55
60-89 days | Acquired Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Accruing	111	51
60-89 days | Acquired Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Accruing	157	0
60-89 days | Acquired Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Accruing	543	989
60-89 days | Acquired Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Accruing	222	189
60-89 days | Acquired Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
60-89 days | Acquired Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
60-89 days | Acquired Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	37	97
60-89 days | Legacy Loans
Accounts, Notes, Loans and Financing Receivable
Accruing	6,884	6,876
60-89 days | Legacy Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Accruing	1,431	0
60-89 days | Legacy Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	586	351
60-89 days | Legacy Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Accruing	224	870
60-89 days | Legacy Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Accruing	0	1,526
60-89 days | Legacy Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Accruing	1,628	1,577
60-89 days | Legacy Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Accruing	1,945	1,430
60-89 days | Legacy Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Accruing	299	405
60-89 days | Legacy Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Accruing	190	99
60-89 days | Legacy Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	581	618
Greater than 90 days | Acquired Loans
Accounts, Notes, Loans and Financing Receivable
Accruing	4,880	282
Greater than 90 days | Acquired Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Acquired Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	3,684	32
Greater than 90 days | Acquired Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Accruing	1,196	0
Greater than 90 days | Acquired Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Acquired Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Acquired Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Accruing	0	250
Greater than 90 days | Acquired Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Acquired Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Acquired Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Legacy Loans
Accounts, Notes, Loans and Financing Receivable
Accruing	3,100	1,104
Greater than 90 days | Legacy Loans | Commercial Loans | Commercial real estate - Construction
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Legacy Loans | Commercial Loans | Commercial real estate - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	537	0
Greater than 90 days | Legacy Loans | Commercial Loans | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Accruing	373	0
Greater than 90 days | Legacy Loans | Commercial Loans | Energy-related
Accounts, Notes, Loans and Financing Receivable
Accruing	2,175	0
Greater than 90 days | Legacy Loans | Residential Mortgage | Residential mortgage
Accounts, Notes, Loans and Financing Receivable
Accruing	0	1,104
Greater than 90 days | Legacy Loans | Consumer and Other Loans | Consumer - Home equity
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Legacy Loans | Consumer and Other Loans | Consumer - Indirect automobile
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Legacy Loans | Consumer and Other Loans | Consumer - Credit card
Accounts, Notes, Loans and Financing Receivable
Accruing	0	0
Greater than 90 days | Legacy Loans | Consumer and Other Loans | Consumer - Other
Accounts, Notes, Loans and Financing Receivable
Accruing	$ 15	$ 0

XML

Loans - Summary of Changes in Accretable Yields of Acquired Loans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Receivables [Abstract]
Balance at beginning of period	$ 175,054	$ 227,502
Transfers from non-accretable difference to accretable yield	2,071	2,106
Accretion	(14,596)	(18,412)
Changes in expected cash flows not affecting non-accretable differences	1,060	8,688
Balance at end of period	$ 163,589	$ 219,884

XML

Loans - Schedule of Modified TDRs (Detail) - Troubled Debt Restructurings - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Financing Receivable, Modifications
Extended maturities	$ 7,199	$ 3,061
Maturity and interest rate adjustment	3,224	253
Movement to or extension of interest-rate only payments	1,290	0
Forbearance	1,220	5,296
Other concession(s)	232	36,172
Total	13,165	44,782
Total TDRs	13,200	44,800
TDRs in accrual status	11,800	39,600
TDRs in non-accrual status	$ 1,400	$ 5,200

XML

Loans - Schedule of Subsequently Defaulted TDRs (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017 USD ($) SecurityLoan	Mar. 31, 2016 USD ($) SecurityLoan
Accounts, Notes, Loans and Financing Receivable
Threshold period for loans in default (in days)	30 days
Non-Covered TDRs | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	101	94
Pre-modification outstanding recorded investment	$ 13,238	$ 45,189
Post-modification outstanding recorded investment	$ 13,165	$ 44,782
Number of loans | SecurityLoan	162	51
Recorded investment	$ 28,416	$ 9,088
Non-Covered TDRs | Commercial Loans | Real Estate | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	10	9
Pre-modification outstanding recorded investment	$ 4,871	$ 1,228
Post-modification outstanding recorded investment	$ 4,854	$ 1,228
Number of loans | SecurityLoan	16	9
Recorded investment	$ 13,583	$ 1,228
Non-Covered TDRs | Commercial Loans | Commercial and industrial | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	15	14
Pre-modification outstanding recorded investment	$ 435	$ 4,927
Post-modification outstanding recorded investment	$ 427	$ 4,737
Number of loans | SecurityLoan	20	9
Recorded investment	$ 1,411	$ 1,627
Non-Covered TDRs | Commercial Loans | Energy-related | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	0	9
Pre-modification outstanding recorded investment	$ 0	$ 33,925
Post-modification outstanding recorded investment	$ 0	$ 33,925
Number of loans | SecurityLoan	5	1
Recorded investment	$ 9,082	$ 2,250
Non-Covered TDRs | Residential Mortgage | Residential mortgage | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	4	15
Pre-modification outstanding recorded investment	$ 259	$ 3,295
Post-modification outstanding recorded investment	$ 241	$ 3,219
Number of loans | SecurityLoan	22	15
Recorded investment	$ 1,793	$ 3,218
Non-Covered TDRs | Consumer and Other Loans | Consumer - Home equity | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	37	22
Pre-modification outstanding recorded investment	$ 6,622	$ 1,372
Post-modification outstanding recorded investment	$ 6,607	$ 1,316
Number of loans | SecurityLoan	31	10
Recorded investment	$ 1,337	$ 595
Non-Covered TDRs | Consumer and Other Loans | Consumer - Indirect Automobile | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	13	0
Pre-modification outstanding recorded investment	$ 184	$ 0
Post-modification outstanding recorded investment	$ 174	$ 0
Number of loans | SecurityLoan	43	0
Recorded investment	$ 517	$ 0
Non-Covered TDRs | Consumer and Other Loans | Consumer - Other | TDRs Occurring during the Period
Accounts, Notes, Loans and Financing Receivable
Number of loans | SecurityLoan	22	25
Pre-modification outstanding recorded investment	$ 867	$ 442
Post-modification outstanding recorded investment	$ 862	$ 357
Number of loans | SecurityLoan	25	7
Recorded investment	$ 693	$ 170

XML

Allowance for Credit Losses and Credit Quality - Schedule of Allowance for Loan Losses for Covered and Non-Covered Loan Portfolios (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allowance for credit losses
Allowance for loan losses at beginning of period	$ 144,719	$ 138,378
Provision for loan losses before benefit attributable to FDIC loss share agreements		14,647
Adjustment attributable to FDIC loss share arrangements		(258)
Net provision for loan losses	6,154	14,905
Transfer of balance to OREO and other	73	(2,459)
Loans charged off	(7,291)	(5,560)
Recoveries	1,235	1,551
Allowance for loan losses at end of period	144,890	146,557
Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	11,241	14,145
Provision for unfunded lending commitments	419	(112)
Reserve for unfunded commitments at end of period	11,660	14,033
Allowance for credit losses at end of period	156,550	160,590
Legacy Loans
Allowance for credit losses
Allowance for loan losses at beginning of period	105,569	93,808
Provision for loan losses before benefit attributable to FDIC loss share agreements		15,908
Adjustment attributable to FDIC loss share arrangements		0
Net provision for loan losses	6,566	15,908
Transfer of balance to OREO and other	0	0
Loans charged off	(7,202)	(5,389)
Recoveries	880	1,247
Allowance for loan losses at end of period	105,813	105,574
Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	11,241	14,145
Provision for unfunded lending commitments	419	(112)
Reserve for unfunded commitments at end of period	11,660	14,033
Allowance for credit losses at end of period	117,473	119,607
Acquired Loans
Allowance for credit losses
Allowance for loan losses at beginning of period	39,150	44,570
Provision for loan losses before benefit attributable to FDIC loss share agreements		(1,261)
Adjustment attributable to FDIC loss share arrangements		(258)
Net provision for loan losses	(412)	(1,003)
Transfer of balance to OREO and other	73	(2,459)
Loans charged off	(89)	(171)
Recoveries	355	304
Allowance for loan losses at end of period	39,077	40,983
Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	0	0
Provision for unfunded lending commitments	0	0
Reserve for unfunded commitments at end of period	0	0
Allowance for credit losses at end of period	$ 39,077	$ 40,983

XML

Allowance for Credit Losses and Credit Quality - Schedule of Allowance for Loan Losses for Legacy and Acquired Loans, by Loan Portfolio (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	$ 144,719	$ 138,378
Transfer of balance to OREO and other	73	(2,459)
Loans charged off	(7,291)	(5,560)
Recoveries	1,235	1,551
Allowance for loan losses at end of period	144,890	146,557
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	11,241	14,145
Reserve for unfunded commitments at end of period	11,660	14,033
Legacy Loans
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	105,569	93,808
Provision for (Reversal of) loan losses	6,566	15,908
Transfer of balance to OREO and other	0	0
Loans charged off	(7,202)	(5,389)
Recoveries	880	1,247
Allowance for loan losses at end of period	105,813	105,574
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	11,241	14,145
Provision for (Reversal of) unfunded commitments	419	(112)
Reserve for unfunded commitments at end of period	11,660	14,033
Allowance on loans individually evaluated for impairment	27,305	12,982
Allowance on loans collectively evaluated for impairment	78,508	92,592
Loans, net of unearned income:
Loans, net of unearned income	12,923,444	11,528,697
Balance at end of period individually evaluated for impairment	257,032	137,960
Balance at end of period collectively evaluated for impairment	12,666,412	11,390,737
Legacy Loans | Commercial Loans | Real Estate
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	25,408	24,658
Provision for (Reversal of) loan losses	1,948	1,297
Transfer of balance to OREO and other	0
Loans charged off	(95)	(1,738)
Recoveries	87	487
Allowance for loan losses at end of period	27,348	24,704
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	3,206	4,160
Provision for (Reversal of) unfunded commitments	1,377	(297)
Reserve for unfunded commitments at end of period	4,583	3,863
Allowance on loans individually evaluated for impairment	1,222	695
Allowance on loans collectively evaluated for impairment	26,126	24,009
Loans, net of unearned income:
Loans, net of unearned income	5,878,509	4,771,690
Balance at end of period individually evaluated for impairment	46,203	26,608
Balance at end of period collectively evaluated for impairment	5,832,306	4,745,082
Legacy Loans | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	35,434	23,283
Provision for (Reversal of) loan losses	1,951	(2,431)
Transfer of balance to OREO and other	0
Loans charged off	(917)	(225)
Recoveries	49	30
Allowance for loan losses at end of period	36,517	20,657
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	3,535	3,448
Provision for (Reversal of) unfunded commitments	(83)	1,952
Reserve for unfunded commitments at end of period	3,452	5,400
Allowance on loans individually evaluated for impairment	13,860	488
Allowance on loans collectively evaluated for impairment	22,657	20,169
Loans, net of unearned income:
Loans, net of unearned income	3,140,205	2,926,686
Balance at end of period individually evaluated for impairment	40,380	23,302
Balance at end of period collectively evaluated for impairment	3,099,825	2,903,384
Legacy Loans | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	22,486	23,863
Provision for (Reversal of) loan losses	490	14,533
Transfer of balance to OREO and other	0
Loans charged off	(2,845)	0
Recoveries	0	0
Allowance for loan losses at end of period	20,131	38,396
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	1,003	2,665
Provision for (Reversal of) unfunded commitments	(800)	(1,766)
Reserve for unfunded commitments at end of period	203	899
Allowance on loans individually evaluated for impairment	10,446	10,918
Allowance on loans collectively evaluated for impairment	9,685	27,478
Loans, net of unearned income:
Loans, net of unearned income	562,515	728,778
Balance at end of period individually evaluated for impairment	142,398	79,417
Balance at end of period collectively evaluated for impairment	420,117	649,361
Legacy Loans | Residential Mortgage
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	3,835	3,947
Provision for (Reversal of) loan losses	(623)	(115)
Transfer of balance to OREO and other	0
Loans charged off	(22)	(14)
Recoveries	43	18
Allowance for loan losses at end of period	3,233	3,836
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	657	830
Provision for (Reversal of) unfunded commitments	(49)	(24)
Reserve for unfunded commitments at end of period	608	806
Allowance on loans individually evaluated for impairment	98	72
Allowance on loans collectively evaluated for impairment	3,135	3,764
Loans, net of unearned income:
Loans, net of unearned income	901,859	730,621
Balance at end of period individually evaluated for impairment	4,583	2,724
Balance at end of period collectively evaluated for impairment	897,276	727,897
Legacy Loans | Consumer and Other Loans
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	18,406	18,057
Provision for (Reversal of) loan losses	2,800	2,624
Transfer of balance to OREO and other	0
Loans charged off	(3,323)	(3,412)
Recoveries	701	712
Allowance for loan losses at end of period	18,584	17,981
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	2,840	3,042
Provision for (Reversal of) unfunded commitments	(26)	23
Reserve for unfunded commitments at end of period	2,814	3,065
Allowance on loans individually evaluated for impairment	1,679	809
Allowance on loans collectively evaluated for impairment	16,905	17,172
Loans, net of unearned income:
Loans, net of unearned income	2,440,356	2,370,922
Balance at end of period individually evaluated for impairment	23,468	5,909
Balance at end of period collectively evaluated for impairment	2,416,888	2,365,013
Acquired Loans
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	39,150	44,570
Provision for (Reversal of) loan losses	(412)	(1,003)
Increase (Decrease) in FDIC loss share receivable		(258)
Transfer of balance to OREO and other	73	(2,459)
Loans charged off	(89)	(171)
Recoveries	355	304
Allowance for loan losses at end of period	39,077	40,983
Financing Receivable, Reserve For Unfunded Commitments
Reserve for unfunded commitments at beginning of period	0	0
Reserve for unfunded commitments at end of period	0	0
Allowance on loans individually evaluated for impairment	1,504	96
Allowance on loans collectively evaluated for impairment	37,573	40,887
Loans, net of unearned income:
Loans, net of unearned income	2,208,758	2,922,547
Balance at end of period individually evaluated for impairment	12,080	7,245
Balance at end of period collectively evaluated for impairment	1,699,339	2,256,304
Acquired Loans | Commercial Loans | Real Estate
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	23,574	25,979
Provision for (Reversal of) loan losses	(84)	(598)
Increase (Decrease) in FDIC loss share receivable		2
Transfer of balance to OREO and other	377	(1,574)
Loans charged off	0	0
Recoveries	109	55
Allowance for loan losses at end of period	23,976	23,864
Financing Receivable, Reserve For Unfunded Commitments
Allowance on loans individually evaluated for impairment	694	41
Allowance on loans collectively evaluated for impairment	23,282	23,823
Loans, net of unearned income:
Loans, net of unearned income	1,099,365	1,458,938
Balance at end of period individually evaluated for impairment	7,966	911
Balance at end of period collectively evaluated for impairment	832,060	1,088,713
Acquired Loans | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	3,230	2,819
Provision for (Reversal of) loan losses	63	194
Increase (Decrease) in FDIC loss share receivable		(34)
Transfer of balance to OREO and other	(350)	(343)
Loans charged off	0	(30)
Recoveries	35	108
Allowance for loan losses at end of period	2,978	2,714
Financing Receivable, Reserve For Unfunded Commitments
Allowance on loans individually evaluated for impairment	750	5
Allowance on loans collectively evaluated for impairment	2,228	2,709
Loans, net of unearned income:
Loans, net of unearned income	315,373	447,696
Balance at end of period individually evaluated for impairment	1,810	1,582
Balance at end of period collectively evaluated for impairment	281,009	409,561
Acquired Loans | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	39	125
Provision for (Reversal of) loan losses	(26)	(25)
Increase (Decrease) in FDIC loss share receivable		0
Transfer of balance to OREO and other	0	0
Loans charged off	0	0
Recoveries	0	0
Allowance for loan losses at end of period	13	100
Financing Receivable, Reserve For Unfunded Commitments
Allowance on loans individually evaluated for impairment	0	0
Allowance on loans collectively evaluated for impairment	13	100
Loans, net of unearned income:
Loans, net of unearned income	1,108	2,884
Balance at end of period individually evaluated for impairment	0	34
Balance at end of period collectively evaluated for impairment	1,108	2,850
Acquired Loans | Residential Mortgage
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	7,412	7,841
Provision for (Reversal of) loan losses	(437)	662
Increase (Decrease) in FDIC loss share receivable		(35)
Transfer of balance to OREO and other	2	(70)
Loans charged off	0	0
Recoveries	0	25
Allowance for loan losses at end of period	6,977	8,423
Financing Receivable, Reserve For Unfunded Commitments
Allowance on loans individually evaluated for impairment	15	0
Allowance on loans collectively evaluated for impairment	6,962	8,423
Loans, net of unearned income:
Loans, net of unearned income	394,499	477,770
Balance at end of period individually evaluated for impairment	464	0
Balance at end of period collectively evaluated for impairment	278,742	340,278
Acquired Loans | Consumer and Other Loans
Financing Receivable, Allowance for Credit Losses
Allowance for loan losses at beginning of period	4,895	7,806
Provision for (Reversal of) loan losses	72	(1,236)
Increase (Decrease) in FDIC loss share receivable		(191)
Transfer of balance to OREO and other	44	(472)
Loans charged off	(89)	(141)
Recoveries	211	116
Allowance for loan losses at end of period	5,133	5,882
Financing Receivable, Reserve For Unfunded Commitments
Allowance on loans individually evaluated for impairment	45	50
Allowance on loans collectively evaluated for impairment	5,088	5,832
Loans, net of unearned income:
Loans, net of unearned income	398,413	535,259
Balance at end of period individually evaluated for impairment	1,840	4,718
Balance at end of period collectively evaluated for impairment	306,420	414,902
Receivables Acquired with Deteriorated Credit Quality | Acquired Loans
Loans, net of unearned income:
Balance at end of period acquired with deteriorated credit quality	497,339	658,998
Receivables Acquired with Deteriorated Credit Quality | Acquired Loans | Commercial Loans | Real Estate
Loans, net of unearned income:
Balance at end of period acquired with deteriorated credit quality	259,339	369,314
Receivables Acquired with Deteriorated Credit Quality | Acquired Loans | Commercial Loans | Commercial and industrial
Loans, net of unearned income:
Balance at end of period acquired with deteriorated credit quality	32,554	36,553
Receivables Acquired with Deteriorated Credit Quality | Acquired Loans | Commercial Loans | Energy-related
Loans, net of unearned income:
Balance at end of period acquired with deteriorated credit quality	0	0
Receivables Acquired with Deteriorated Credit Quality | Acquired Loans | Residential Mortgage
Loans, net of unearned income:
Balance at end of period acquired with deteriorated credit quality	115,293	137,492
Receivables Acquired with Deteriorated Credit Quality | Acquired Loans | Consumer and Other Loans
Loans, net of unearned income:
Balance at end of period acquired with deteriorated credit quality	$ 90,153	$ 115,639

XML

Allowance for Credit Losses and Credit Quality - Investment in Legacy and Acquired Loans by Credit Quality Indicator (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	$ 22,600	$ 0
Acquired Loans
Financing Receivable, Allowance for Credit Losses
Total Loans	2,208,758	2,370,047
Acquired Loans | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(30,855)	(38,153)
Total Loans	1,415,846	1,529,182
Acquired Loans | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	11,001	8,759
Total Loans	61,956	61,408
Acquired Loans | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(39,982)	(42,419)
Total Loans	1,037,409	1,117,544
Acquired Loans | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(1,869)	(4,487)
Total Loans	315,373	348,326
Acquired Loans | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(5)	(6)
Total Loans	1,108	1,904
Acquired Loans | Residential and Consumer Portfolio Segment
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(49,974)	(53,753)
Current	809,710	859,474
30 or more days past due	33,176	35,144
Total Loans	792,912	840,865
Acquired Loans | Residential Mortgage | Residential mortgage
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(29,045)	(32,030)
Current	404,276	424,300
30 or more days past due	19,268	20,914
Total Loans	394,499	413,184
Acquired Loans | Consumer and Other Loans | Consumer - Home equity
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(16,134)	(17,323)
Current	352,836	377,021
30 or more days past due	12,971	12,807
Total Loans	349,673	372,505
Acquired Loans | Consumer and Other Loans | Consumer - Indirect Automobile
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	0	(8)
Current	26	12
30 or more days past due	0	0
Total Loans	26	4
Acquired Loans | Consumer and Other Loans | Consumer - Credit Card
Financing Receivable, Allowance for Credit Losses
Total Loans	501	468
Acquired Loans | Consumer and Other Loans | Consumer - Other
Financing Receivable, Allowance for Credit Losses
Premium/(Discount)	(4,795)	(4,392)
Current	52,572	58,141
30 or more days past due	937	1,423
Total Loans	48,714	55,172
Acquired Loans | Consumer and Other Loans | Consumer - Other
Financing Receivable, Allowance for Credit Losses
Total Loans	48,213	54,704
Acquired Loans | Pass | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	1,353,764	1,461,625
Acquired Loans | Pass | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	45,192	46,498
Acquired Loans | Pass | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	1,014,057	1,090,063
Acquired Loans | Pass | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	293,402	323,154
Acquired Loans | Pass | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	1,113	1,910
Acquired Loans | Special Mention | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	21,287	21,159
Acquired Loans | Special Mention | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	472	459
Acquired Loans | Special Mention | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	15,408	19,284
Acquired Loans | Special Mention | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	5,407	1,416
Acquired Loans | Special Mention | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	0	0
Acquired Loans | Substandard | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	67,198	80,003
Acquired Loans | Substandard | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	2,717	3,118
Acquired Loans | Substandard | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	46,451	49,136
Acquired Loans | Substandard | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	18,030	27,749
Acquired Loans | Substandard | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	0	0
Acquired Loans | Doubtful | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	4,452	4,525
Acquired Loans | Doubtful | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	2,574	2,574
Acquired Loans | Doubtful | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	1,475	1,457
Acquired Loans | Doubtful | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	403	494
Acquired Loans | Doubtful | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	0	0
Acquired Loans | Loss | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross		23
Acquired Loans | Loss | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross		0
Acquired Loans | Loss | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross		23
Acquired Loans | Loss | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross		0
Acquired Loans | Loss | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross		0
Legacy Loans
Financing Receivable, Allowance for Credit Losses
Current	12,702,980	12,447,375
Total Loans	12,923,444	12,694,924
Legacy Loans | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Total Loans	9,581,229	9,377,399
Legacy Loans | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Current	880,721	740,761
Total Loans	882,339	740,761
Legacy Loans | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Current	4,973,144	4,863,902
Total Loans	4,996,170	4,882,553
Legacy Loans | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Current	3,102,314	3,158,700
Total Loans	3,140,205	3,194,796
Legacy Loans | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Current	447,128	407,434
Total Loans	562,515	559,289
Legacy Loans | Residential and Consumer Portfolio Segment
Financing Receivable, Allowance for Credit Losses
Current	3,299,673	3,276,578
30 or more days past due	42,542	40,947
Total Loans	3,342,215	3,317,525
Legacy Loans | Residential Mortgage | Residential mortgage
Financing Receivable, Allowance for Credit Losses
Current	884,571	836,509
30 or more days past due	17,288	17,707
Total Loans	901,859	854,216
Legacy Loans | Consumer and Other Loans | Consumer - Home equity
Financing Receivable, Allowance for Credit Losses
Current	1,779,409	1,768,763
30 or more days past due	17,714	14,658
Total Loans	1,797,123	1,783,421
Legacy Loans | Consumer and Other Loans | Consumer - Indirect Automobile
Financing Receivable, Allowance for Credit Losses
Current	107,519	127,054
30 or more days past due	2,655	3,994
Total Loans	110,174	131,048
Legacy Loans | Consumer and Other Loans | Consumer - Credit Card
Financing Receivable, Allowance for Credit Losses
Current	82,636	81,602
30 or more days past due	976	922
Total Loans	83,612	82,524
Legacy Loans | Consumer and Other Loans | Consumer - Other
Financing Receivable, Allowance for Credit Losses
Current	445,538	462,650
30 or more days past due	3,909	3,666
Total Loans	449,447	466,316
Legacy Loans | Pass | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	9,138,375	8,890,604
Legacy Loans | Pass | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	876,872	734,687
Legacy Loans | Pass | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	4,882,222	4,801,494
Legacy Loans | Pass | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	3,064,306	3,112,300
Legacy Loans | Pass | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	314,975	242,123
Legacy Loans | Special Mention | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	150,286	138,209
Legacy Loans | Special Mention | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	1,119	2,203
Legacy Loans | Special Mention | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	52,083	26,159
Legacy Loans | Special Mention | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	31,615	29,763
Legacy Loans | Special Mention | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	65,469	80,084
Legacy Loans | Substandard | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	246,413	319,694
Legacy Loans | Substandard | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	4,348	3,871
Legacy Loans | Substandard | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	61,865	54,900
Legacy Loans | Substandard | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	27,014	35,199
Legacy Loans | Substandard | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	153,186	225,724
Legacy Loans | Doubtful | Commercial Loans
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	46,155	28,892
Legacy Loans | Doubtful | Commercial Loans | Commercial Real Estate - Construction
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	0	0
Legacy Loans | Doubtful | Commercial Loans | Commercial Real Estate - Other
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	0	0
Legacy Loans | Doubtful | Commercial Loans | Commercial and industrial
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	17,270	17,534
Legacy Loans | Doubtful | Commercial Loans | Energy-related
Financing Receivable, Allowance for Credit Losses
Loans and Leases Receivable before Fees, Gross	$ 28,885	$ 11,358

XML

Allowance for Credit Losses and Credit Quality - Schedule of Investment in Legacy Impaired Loans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Financing Receivable, Impaired
Acquired Impaired Loans	$ 257,825		$ 306,426
Unpaid principal balance	257,032		292,645
Related allowance	(1,679)		(1,358)
Average Recorded Investment	261,853	$ 141,312
Interest Income Recognized	1,403	1,273
Commercial Loans
Financing Receivable, Impaired
Acquired Impaired Loans	228,981		284,409
Unpaid principal balance	228,981		271,876
Related allowance	(27,305)		(22,776)
Average Recorded Investment	234,184	132,792
Interest Income Recognized	1,098	1,190
Residential Mortgage
Financing Receivable, Impaired
Acquired Impaired Loans	4,911		4,627
Unpaid principal balance	4,583		4,312
Related allowance	(25,528)		(21,274)
Average Recorded Investment	4,599	2,751
Interest Income Recognized	45	24
Consumer and Other Loans
Financing Receivable, Impaired
Acquired Impaired Loans	23,933		17,390
Unpaid principal balance	23,468		16,457
Related allowance	(98)		(144)
Average Recorded Investment	23,070	5,769
Interest Income Recognized	260	59
With No Related Allowance Recorded [Member] | Commercial Loans | Real Estate
Financing Receivable, Impaired
Acquired Impaired Loans	24,203		17,299
Unpaid principal balance	24,203		16,507
Average Recorded Investment	24,370	16,167
Interest Income Recognized	315	38
With No Related Allowance Recorded [Member] | Commercial Loans | Commercial and industrial
Financing Receivable, Impaired
Acquired Impaired Loans	10,176		14,202
Unpaid principal balance	10,176		13,189
Average Recorded Investment	10,408	27,540
Interest Income Recognized	92	286
With No Related Allowance Recorded [Member] | Commercial Loans | Energy-related
Financing Receivable, Impaired
Acquired Impaired Loans	93,289		152,424
Unpaid principal balance	93,289		143,239
Average Recorded Investment	96,664	53,920
Interest Income Recognized	365	513
With No Related Allowance Recorded [Member] | Commercial Loans | Residential mortgage
Financing Receivable, Impaired
Acquired Impaired Loans	519		0
Unpaid principal balance	519		0
Average Recorded Investment	519	1,289
Interest Income Recognized	4	16
With No Related Allowance Recorded [Member] | Consumer and Other Loans | Consumer - Home equity
Financing Receivable, Impaired
Acquired Impaired Loans	3,480		0
Unpaid principal balance	3,480		0
Average Recorded Investment	3,480	0
Interest Income Recognized	34	0
With No Related Allowance Recorded [Member] | Consumer and Other Loans | Consumer - Other
Financing Receivable, Impaired
Acquired Impaired Loans	0		0
Unpaid principal balance	0		0
With Allowance Recorded [Member] | Commercial Loans | Real Estate
Financing Receivable, Impaired
Acquired Impaired Loans	22,000		17,688
Unpaid principal balance	22,000		17,524
Related allowance	(1,222)		(641)
Average Recorded Investment	22,076	10,710
Interest Income Recognized	115	83
With Allowance Recorded [Member] | Commercial Loans | Commercial and industrial
Financing Receivable, Impaired
Acquired Impaired Loans	30,204		28,829
Unpaid principal balance	30,204		28,329
Related allowance	(13,860)		(10,864)
Average Recorded Investment	30,779	3,166
Interest Income Recognized	209	46
With Allowance Recorded [Member] | Commercial Loans | Energy-related
Financing Receivable, Impaired
Acquired Impaired Loans	49,109		53,967
Unpaid principal balance	49,109		53,088
Related allowance	(10,446)		(9,769)
Average Recorded Investment	49,887	21,289
Interest Income Recognized	2	224
With Allowance Recorded [Member] | Residential Mortgage | Residential mortgage
Financing Receivable, Impaired
Acquired Impaired Loans	4,392		4,627
Unpaid principal balance	4,064		4,312
Related allowance	(98)		(144)
Average Recorded Investment	4,080	1,462
Interest Income Recognized	41	8
With Allowance Recorded [Member] | Consumer and Other Loans | Consumer - Home equity
Financing Receivable, Impaired
Acquired Impaired Loans	16,605		13,906
Unpaid principal balance	16,229		13,257
Related allowance	(1,263)		(993)
Average Recorded Investment	15,746	5,188
Interest Income Recognized	170	51
With Allowance Recorded [Member] | Consumer and Other Loans | Consumer - Indirect Automobile
Financing Receivable, Impaired
Acquired Impaired Loans	724		1,037
Unpaid principal balance	724		758
Related allowance	(139)		(114)
Average Recorded Investment	766	190
Interest Income Recognized	7	1
With Allowance Recorded [Member] | Consumer and Other Loans | Consumer - Other
Financing Receivable, Impaired
Acquired Impaired Loans	3,124		2,447
Unpaid principal balance	3,035		2,442
Related allowance	(277)		$ (251)
Average Recorded Investment	3,078	391
Interest Income Recognized	$ 49	$ 7

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Goodwill and Other Acquired Intangible Assets - Schedule of Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Goodwill
Balance at beginning of the period	$ 726,856	$ 724,603
Goodwill adjustments during the year		2,253
Goodwill adjustments during the year	0
Balance at end of the period	726,856	726,856
Operating Segments | IBERIABANK
Goodwill
Balance at beginning of the period	698,513	696,260
Goodwill adjustments during the year		2,253
Goodwill adjustments during the year	0
Balance at end of the period	698,513	698,513
Operating Segments | IMC
Goodwill
Balance at beginning of the period	23,178	23,178
Goodwill adjustments during the year		0
Goodwill adjustments during the year	0
Balance at end of the period	23,178	23,178
Operating Segments | LTC
Goodwill
Balance at beginning of the period	5,165	5,165
Goodwill adjustments during the year		0
Goodwill adjustments during the year	0
Balance at end of the period	$ 5,165	$ 5,165

XML

Goodwill and Other Acquired Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Title plant assets	$ 6.7	$ 6.7

XML

Goodwill and Other Acquired Intangible Assets - Schedule of Mortgage Servicing Rights at Carrying Value (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 75,337	$ 75,412
Accumulated Amortization	(54,950)	(53,251)
Net Carrying Amount	20,387	22,161
Mortgage servicing rights
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,695	7,202
Accumulated Amortization	(3,346)	(3,144)
Net Carrying Amount	$ 4,349	$ 4,058

XML

Goodwill and Other Acquired Intangible Assets - Schedule of Definite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 75,337	$ 75,412
Accumulated Amortization	(54,950)	(53,251)
Net Carrying Amount	20,387	22,161
Core deposit intangibles
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	74,001	74,001
Accumulated Amortization	(53,887)	(52,165)
Net Carrying Amount	20,114	21,836
Customer relationship intangible asset
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,273	1,348
Accumulated Amortization	(1,036)	(1,064)
Net Carrying Amount	237	284
Non-compete agreement
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	63	63
Accumulated Amortization	(27)	(22)
Net Carrying Amount	$ 36	$ 41

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Derivative Instruments and Other Hedging Activities - Schedule of Outstanding Derivative Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value of Derivatives
Derivative Asset	$ 34,172	$ 38,886
Derivative Liability	27,068	30,209
Notional Amount of Derivatives
Derivative assets	1,456,734	1,565,509
Derivative liabilities	1,729,550	1,528,184
Designated as Hedging Instruments
Fair Value of Derivatives
Derivative Asset	0	0
Derivative Liability	0	525
Notional Amount of Derivatives
Derivative assets	0	0
Derivative liabilities	108,500	108,500
Designated as Hedging Instruments | Interest rate contracts
Notional Amount of Derivatives
Derivative assets	0	0
Derivative liabilities	108,500	108,500
Designated as Hedging Instruments | Interest rate contracts | Other Assets
Fair Value of Derivatives
Derivative Asset	0	0
Designated as Hedging Instruments | Interest rate contracts | Other Liabilities
Fair Value of Derivatives
Derivative Liability	0	525
Not Designated as Hedging Instruments
Notional Amount of Derivatives
Derivative assets	1,456,734	1,565,509
Derivative liabilities	1,621,050	1,419,684
Not Designated as Hedging Instruments | Other Assets
Fair Value of Derivatives
Derivative Asset	34,172	38,886
Not Designated as Hedging Instruments | Other Liabilities
Fair Value of Derivatives
Derivative Liability	27,068	29,684
Not Designated as Hedging Instruments | Interest rate contracts
Notional Amount of Derivatives
Derivative assets	1,065,894	1,033,955
Derivative liabilities	1,065,894	1,033,955
Not Designated as Hedging Instruments | Interest rate contracts | Other Assets
Fair Value of Derivatives
Derivative Asset	20,982	20,719
Not Designated as Hedging Instruments | Interest rate contracts | Other Liabilities
Fair Value of Derivatives
Derivative Liability	17,454	20,719
Not Designated as Hedging Instruments | Foreign exchange contracts
Notional Amount of Derivatives
Derivative assets	1,277	4,474
Derivative liabilities	1,277	4,474
Not Designated as Hedging Instruments | Foreign exchange contracts | Other Assets
Fair Value of Derivatives
Derivative Asset	2	27
Not Designated as Hedging Instruments | Foreign exchange contracts | Other Liabilities
Fair Value of Derivatives
Derivative Liability	2	26
Not Designated as Hedging Instruments | Forward sales contracts
Notional Amount of Derivatives
Derivative assets	32,438	229,181
Derivative liabilities	270,612	120,567
Not Designated as Hedging Instruments | Forward sales contracts | Other Assets
Fair Value of Derivatives
Derivative Asset	145	6,014
Not Designated as Hedging Instruments | Forward sales contracts | Other Liabilities
Fair Value of Derivatives
Derivative Liability	1,209	794
Not Designated as Hedging Instruments | Written and purchased options
Notional Amount of Derivatives
Derivative assets	348,417	289,115
Derivative liabilities	172,782	154,170
Not Designated as Hedging Instruments | Written and purchased options | Other Assets
Fair Value of Derivatives
Derivative Asset	13,043	12,125
Not Designated as Hedging Instruments | Written and purchased options | Other Liabilities
Fair Value of Derivatives
Derivative Liability	8,361	8,098
Not Designated as Hedging Instruments | Other contracts
Notional Amount of Derivatives
Derivative assets	8,708	8,784
Derivative liabilities	110,485	106,518
Not Designated as Hedging Instruments | Other contracts | Other Assets
Fair Value of Derivatives
Derivative Asset	0	1
Not Designated as Hedging Instruments | Other contracts | Other Liabilities
Fair Value of Derivatives
Derivative Liability	$ 42	$ 47

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Derivative Instruments and Other Hedging Activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2017
Derivative [Line Items]
Notional amount of derivative liabilities	$ 1,528,184	$ 1,729,550
Cash as collateral for derivative transactions	1,900
Cash Posted As Variation Margin for Derivatives		3,900
Not Designated as Hedging Instruments
Derivative [Line Items]
Notional amount of derivative liabilities	1,419,684	1,621,050
Not Designated as Hedging Instruments | Other contracts
Derivative [Line Items]
Notional amount of derivative liabilities	$ 106,518	$ 110,485

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Derivative Instruments and Other Hedging Activities - Reconciliation of Gross Amounts in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivative assets
Gross derivative assets	$ 29,242	$ 28,804
Gross amounts not offset in the Balance Sheet, derivatives	(11,303)	(9,677)
Gross amounts not offset in the Balance Sheet, collateral	0	0
Net derivative assets	17,939	19,127
Derivative liabilities
Gross derivative liabilities	17,454	21,244
Gross amounts not offset in the Balance Sheet, derivatives	(11,303)	(9,677)
Gross amounts not offset in the Balance Sheet, collateral	(23)	(1,892)
Net derivative liabilities	6,128	9,675
Written and purchased options
Derivative assets
Gross derivative assets	8,260	8,085
Gross amounts not offset in the Balance Sheet, derivatives	0	0
Gross amounts not offset in the Balance Sheet, collateral	0	0
Net derivative assets	8,260	8,085
Designated as Hedging Instruments | Interest rate contracts
Derivative assets
Gross derivative assets	20,982
Gross amounts not offset in the Balance Sheet, derivatives	(11,303)
Gross amounts not offset in the Balance Sheet, collateral	0
Net derivative assets	9,679
Derivative liabilities
Gross derivative liabilities	0	525
Gross amounts not offset in the Balance Sheet, derivatives	0	0
Gross amounts not offset in the Balance Sheet, collateral	0	(181)
Net derivative liabilities	0	344
Not Designated as Hedging Instruments | Interest rate contracts
Derivative assets
Gross derivative assets		20,719
Gross amounts not offset in the Balance Sheet, derivatives		(9,677)
Gross amounts not offset in the Balance Sheet, collateral		0
Net derivative assets		11,042
Derivative liabilities
Gross derivative liabilities	17,454	20,719
Gross amounts not offset in the Balance Sheet, derivatives	(11,303)	(9,677)
Gross amounts not offset in the Balance Sheet, collateral	(23)	(1,711)
Net derivative liabilities	$ 6,128	$ 9,331

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Derivative Instruments and Other Hedging Activities - Effect of Hedging Instruments on Consolidated Financial Statements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Designated as Hedging Instruments | Cash Flow Hedging | Interest rate contracts | Other income (expense)
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in OCI net of taxes (Effective Portion)	$ 163	$ (4,127)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income net of taxes (Effective Portion)	(45)	0
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	0	0
Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in Income on Derivatives	1,423	1,602
Not Designated as Hedging Instruments | Interest rate contracts | Other income
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in Income on Derivatives	1,117	2,962
Not Designated as Hedging Instruments | Foreign exchange contracts | Other income
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in Income on Derivatives	7	1
Not Designated as Hedging Instruments | Forward sales contracts | Mortgage income
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in Income on Derivatives	(360)	(5,343)
Not Designated as Hedging Instruments | Written and purchased options | Mortgage income
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in Income on Derivatives	655	3,982
Not Designated as Hedging Instruments | Other contracts | Other income
Derivative Instruments and Hedging Activities Disclosures
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 4	$ 0

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Shareholders' Equity, Capital Ratios and Other Regulatory Matters - Shareholders' Equity (Details) $ / shares in Units, $ in Thousands				3 Months Ended
	Mar. 07, 2017 USD ($) $ / shares shares	May 09, 2016 USD ($)	Aug. 05, 2015 USD ($)	Mar. 31, 2017 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2016 USD ($) $ / shares	Jun. 30, 2016 shares
Class of Stock [Line Items]
Proceeds from common stock issued				$ 485,194	$ 0
Preferred stock, par value (in usd per share) | $ / shares						$ 1
Liquidation preference (per share) | $ / shares						$ 10,000
Liquidation preference value				137,500
Carrying Amount				132,097		$ 132,097
Number of shares authorized to be repurchased | shares							950,000
Series B Depositary Shares
Class of Stock [Line Items]
Depository shares to preferred stock ratio			0.0025
Series B Preferred Stock
Class of Stock [Line Items]
Ownership per share			6.625%
Liquidation preference value			$ 80,000
Carrying Amount				76,812		76,812
Series C Depository Shares
Class of Stock [Line Items]
Depository shares to preferred stock ratio		0.0025
Series C Preferred Stock
Class of Stock [Line Items]
Ownership per share		6.60%
Liquidation preference value		$ 57,500
Carrying Amount				$ 55,285		$ 55,285
Common Stock
Class of Stock [Line Items]
Common stock issued (in shares) | shares	6,100,000
Price per share of stock of issued | $ / shares	$ 83.00
Proceeds from common stock issued	$ 485,200

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Shareholders' Equity, Capital Ratios and Other Regulatory Matters - Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Consolidated
Tier 1 Leverage
Minimum amount	$ 845,887	$ 818,440
Minimum ratio	4.00%	4.00%
Actual amount	$ 2,730,832	$ 2,221,528
Actual ratio	12.91%	10.86%
Common Equity Tier 1 (CET1)
Minimum amount	$ 798,791	$ 794,334
Minimum ratio	4.50%	4.50%
Actual amount	$ 2,598,735	$ 2,089,431
Actual ratio	14.64%	11.84%
Tier 1 Risk-Based Capital (1)
Minimum amount	$ 1,065,054	$ 1,059,112
Minimum ratio	6.00%	6.00%
Actual amount	$ 2,730,832	$ 2,221,528
Actual ratio	15.38%	12.59%
Total Risk-Based Capital (1)
Minimum amount	$ 1,420,073	$ 1,412,149
Minimum ratio	8.00%	8.00%
Actual amount	$ 3,003,882	$ 2,493,988
Actual ratio	16.92%	14.13%
IBERIABANK
Tier 1 Leverage
Minimum amount	$ 843,399	$ 816,152
Minimum ratio	4.00%	4.00%
Well capitalized amount	$ 1,054,249	$ 1,020,190
Well capitalized ratio	5.00%	5.00%
Actual amount	$ 1,925,529	$ 1,878,703
Actual ratio	9.13%	9.21%
Common Equity Tier 1 (CET1)
Minimum amount	$ 796,259	$ 792,111
Minimum ratio	4.50%	4.50%
Well capitalized amount	$ 1,150,153	$ 1,144,160
Well capitalized ratio	6.50%	6.50%
Actual amount	$ 1,925,529	$ 1,878,703
Actual ratio	10.88%	10.67%
Tier 1 Risk-Based Capital (1)
Minimum amount	$ 1,061,679	$ 1,056,147
Minimum ratio	6.00%	6.00%
Well capitalized amount	$ 1,415,572	$ 1,408,197
Well capitalized ratio	8.00%	8.00%
Actual amount	$ 1,925,529	$ 1,878,703
Actual ratio	10.88%	10.67%
Total Risk-Based Capital (1)
Minimum amount	$ 1,415,572	$ 1,408,197
Minimum ratio	8.00%	8.00%
Well capitalized amount	$ 1,769,465	$ 1,760,246
Well capitalized ratio	10.00%	10.00%
Actual amount	$ 2,082,079	$ 2,034,663
Actual ratio	11.77%	11.56%

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Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings per common share - basic:
Net income	$ 50,473	$ 42,769
Preferred stock dividends	(3,599)	(2,576)
Dividends and undistributed earnings allocated to unvested restricted shares	(346)	(460)
Net income allocated to common shareholders - basic	$ 46,528	$ 39,733
Weighted average common shares outstanding	46,123	40,711
Earnings per common share - basic (in usd per share)	$ 1.01	$ 0.98
Earnings per common share - diluted:
Net income allocated to common shareholders - basic	$ 46,528	$ 39,733
Dividends and undistributed earnings allocated to unvested restricted shares	(37)	(2)
Earnings Allocated to Common Shareholders	$ 46,491	$ 39,731
Weighted average common shares outstanding	46,123	40,711
Dilutive potential common shares	373	54
Weighted average common shares outstanding - diluted	46,496	40,765
Earnings per common share - diluted (in usd per share)	$ 1.00	$ 0.97

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Earnings Per Share (Detail) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share
Weighted average number of shares held by Recognition and Retention Plan excluded from the calculation for basic shares outstanding	406,896	475,423
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from the computation of earnings per share	70,456	751,387

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Share-Based Compensation (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future awards shares under approved incentive compensation plans	2,106,167
Share-based compensation maximum option term (in years)	10 years
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned share-based compensation associated with awards	$ 2.8
Unrecognized compensation cost related to stock options expected to be recognized over a weighted-average period	3 years
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned share-based compensation associated with awards	$ 21.4	$ 23.4
Unrecognized compensation cost related to stock options expected to be recognized over a weighted-average period	1 year 8 months 12 days
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Phantom Stock Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	5 years

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Share-Based Compensation - Activity Related to Stock Options (Detail) - Stock Option Awards - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Number of shares
Balance at beginning of the period (in shares)	721,538,000	813,777,000
Granted (in shares)	70,433,000	148,684,000
Exercised (in shares)	(24,457,000)	(466,000)
Forfeited or expired (in shares)	(12,539,000)	(43,612,000)
Balance at end of the period (in shares)	754,975,000	918,383,000
Exercisable at period end (in shares)	509,347,000	606,046,000
Weighted Average Exercise Price
Balance at beginning of the period (in usd per share)	$ 55.38	$ 56.99
Granted (in usd per share)	85.52	47.35
Exercised (in usd per share)	53.85	36.48
Forfeited or expired (in usd per share)	75.77	61.26
Balance at end of the period (in usd per share)	57.90	55.24
Exercisable at period end (in usd per share)	$ 55.78	$ 56.32

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Share-Based Compensation - Estimate Fair Value of Stock Option Awards with Weighted-Average Assumptions (Detail) - Stock Option Awards - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	1.70%	2.90%
Expected volatility	24.90%	29.10%
Risk-free interest rate	2.10%	1.40%
Expected term (in years)	5 years 7 months 6 days	6 years 4 months 24 days
Weighted-average grant-date fair value	$ 18.75	$ 10.05

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Share-Based Compensation - Compensation Expense Included in Non-Interest Expense and Related Income Tax Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 444	$ 484
Income tax benefit	68	81
Restricted Stock And Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	3,277	3,386
Income tax benefit	1,147	1,185
Phantom Stock and Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 3,053	$ 2,405

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Share-Based Compensation - Unvested Restricted Stock Award Activity (Detail) - Restricted Stock And Restricted Stock Units - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at beginning of the period (in shares)	543,258,000	507,130,000
Granted (in shares)	146,175,000	226,176,000
Forfeited (in shares)	(4,105,000)	(3,573,000)
Earned and issued (in shares)	(157,753,000)	(136,126,000)
Balance at end of the period (in shares)	527,575,000	593,607,000

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Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Value of share equivalents
Market price of Company's stock	$ 79.10	$ 51.27
Phantom Stock and Performance Stock Units
Number of share equivalents
Balance at beginning of the period (in shares)	472,830,000	462,430,000
Granted (in shares)	96,896,992.633	185,798,000
Forfeited share equivalents (in shares)	(5,330,091.114)	(9,022,000)
Vested share equivalents (in shares)	(143,643,092.624)	(138,752,000)
Balance at end of the period (in shares)	420,753,808.895	500,454,000
Value of share equivalents
Balance at beginning of the period (in shares)	$ 39,600	$ 25,466
Granted (in shares)	7,665	9,526
Forfeited share equivalents (in shares)	(422)	(463)
Vested share equivalents (in shares)	(13,715)	(6,939)
Balance at end of the period (in shares)	$ 33,282	$ 25,658

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Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Assets
Securities available for sale, at fair value	$ 3,823,953,000	$ 3,446,097,000
Mortgage loans held for sale	122,333,000	157,041,000
Derivative instruments	29,242,000	28,804,000
Liabilities
Derivative instruments	17,454,000	21,244,000
Fair value assets transferred from Level 1 to Level 2	0
Recurring
Assets
Securities available for sale, at fair value	3,823,953,000	3,446,097,000
Mortgage loans held for sale	122,333,000	157,041,000
Derivative instruments	34,172,000	38,886,000
Total, Assets	3,980,458,000	3,642,024,000
Liabilities
Derivative instruments	27,068,000	30,209,000
Total	27,068,000	30,209,000
Recurring | Level 1
Assets
Securities available for sale, at fair value	0	0
Mortgage loans held for sale	0	0
Derivative instruments	0	0
Total, Assets	0	0
Liabilities
Derivative instruments	0	0
Total	0	0
Recurring | Level 2
Assets
Securities available for sale, at fair value	3,823,953,000	3,446,097,000
Mortgage loans held for sale	122,333,000	157,041,000
Derivative instruments	34,172,000	38,886,000
Total, Assets	3,980,458,000	3,642,024,000
Liabilities
Derivative instruments	27,068,000	30,209,000
Total	27,068,000	30,209,000
Recurring | Level 3
Assets
Securities available for sale, at fair value	0	0
Mortgage loans held for sale	0	0
Derivative instruments	0	0
Total, Assets	0	0
Liabilities
Derivative instruments	0	0
Total	$ 0	$ 0

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Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Unpaid principal balance	$ 257,032	$ 292,645
Related allowance	1,679	1,358
Nonrecurring
Assets
Loans	87,425	93,485
OREO, net	2,122	185
Total	89,547	93,670
Nonrecurring | Level 1
Assets
Loans	0	0
OREO, net	0	0
Total	0	0
Nonrecurring | Level 2
Assets
Loans	0	0
OREO, net	0	0
Total	0	0
Nonrecurring | Level 3
Assets
Loans	87,425	93,485
OREO, net	2,122	185
Total	89,547	93,670
Fair Value
Assets
Unpaid principal balance	120,100	125,500
Related allowance	$ 32,700	$ 32,000

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Fair Value Measurements - Summary of Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Mortgage Loans Held for Sale (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Loans held fro investment at fair value	$ 14,000		$ 12,700
Mortgages Held For Sale at Fair Value
Aggregate fair value	122,333		157,041
Aggregate unpaid principal	118,875		153,801
Aggregate fair value less unpaid principal	3,458		$ 3,240
Total mortgage income (loss) in the Consolidated Statement of Comprehensive Income	$ 400	$ 1,900

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Fair Value of Financial Instruments - Estimated Fair Values and Carrying Amounts of Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Financial Assets
Cash and cash equivalents	$ 1,301,118	$ 1,362,126	$ 996,655	$ 510,267
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,254,535		14,643,789
Derivative instruments	34,172	38,886
Financial Liabilities
Deposits	17,312,265	17,408,283	$ 16,260,566
Short-term borrowings	448,696	509,136
Long-term debt	628,085	628,953
Derivative instruments	27,068	30,209
Level 1
Financial Assets
Cash and cash equivalents	1,301,118	1,362,126
Investment securities	0	0
Loans and loans held for sale, net of unearned income and allowance for loan losses	0	0
Derivative instruments	0	0
Financial Liabilities
Deposits	0	0
Short-term borrowings	368,696	334,136
Long-term debt	0	0
Derivative instruments	0	0
Level 2
Financial Assets
Cash and cash equivalents	0	0
Investment securities	3,910,766	3,536,029
Loans and loans held for sale, net of unearned income and allowance for loan losses	122,333	157,041
Derivative instruments	34,172	38,886
Financial Liabilities
Deposits	0	0
Short-term borrowings	80,000	175,000
Long-term debt	0	0
Derivative instruments	27,068	30,209
Level 3
Financial Assets
Cash and cash equivalents	0	0
Investment securities	0	0
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,073,846	14,909,014
Derivative instruments	0	0
Financial Liabilities
Deposits	16,663,693	16,762,475
Short-term borrowings	0	0
Long-term debt	617,254	617,656
Derivative instruments	0	0
Carrying Amount
Financial Assets
Cash and cash equivalents	1,301,118	1,362,126
Investment securities	3,909,971	3,535,313
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,109,645	15,077,293
Derivative instruments	34,172	38,886
Financial Liabilities
Deposits	17,312,265	17,408,283
Short-term borrowings	448,696	509,136
Long-term debt	628,085	628,953
Derivative instruments	27,068	30,209
Fair Value
Financial Assets
Cash and cash equivalents	1,301,118	1,362,126
Investment securities	3,910,766	3,536,029
Loans and loans held for sale, net of unearned income and allowance for loan losses	15,196,179	15,066,055
Derivative instruments	34,172	38,886
Financial Liabilities
Deposits	16,663,693	16,762,475
Short-term borrowings	448,696	509,136
Long-term debt	617,254	617,656
Derivative instruments	$ 27,068	$ 30,209

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Business Segments (Detail)	3 Months Ended
	Mar. 31, 2017 Segment
Segment Reporting [Abstract]
Number of business segments	3

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Business Segments - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information
Interest and dividend income	$ 192,533	$ 176,936
Interest expense	19,715	15,533
Net interest income	172,818	161,403
Provision for loan losses	6,154	14,905
Mortgage income	14,115	19,940
Service charges on deposit accounts	11,153	10,951
Title revenue	4,741	4,745
Other non-interest income	17,337	20,209
Allocated expenses	0	0
Non-interest expense	141,018	137,452
Income before income tax expense	72,992	64,891
Income tax expense	22,519	22,122
Net income	50,473	42,769
Total loans and loans held for sale, net of unearned income	15,254,535	14,643,789
Total assets	22,008,479	20,092,563	$ 21,659,190
Total deposits	17,312,265	16,260,566	$ 17,408,283
Average assets	21,861,501	19,661,311
Operating Segments | IBERIABANK
Segment Reporting Information
Interest and dividend income	190,823	175,324
Interest expense	19,715	14,654
Net interest income	171,108	160,670
Provision for loan losses	6,158	14,905
Mortgage income	0	0
Service charges on deposit accounts	11,153	10,951
Title revenue	0	0
Other non-interest income	17,353	20,210
Allocated expenses	(2,174)	(2,669)
Non-interest expense	121,651	120,027
Income before income tax expense	73,979	59,568
Income tax expense	22,829	20,001
Net income	51,150	39,567
Total loans and loans held for sale, net of unearned income	15,072,661	14,428,613
Total assets	21,774,586	19,774,092
Total deposits	17,306,328	16,256,147
Average assets	21,550,930	19,381,718
Operating Segments | IMC
Segment Reporting Information
Interest and dividend income	1,709	1,611
Interest expense	0	879
Net interest income	1,709	732
Provision for loan losses	(4)	0
Mortgage income	14,115	19,940
Service charges on deposit accounts	0	0
Title revenue	0	0
Other non-interest income	(10)	(1)
Allocated expenses	1,656	2,050
Non-interest expense	15,167	13,198
Income before income tax expense	(1,005)	5,423
Income tax expense	(322)	2,153
Net income	(683)	3,270
Total loans and loans held for sale, net of unearned income	181,874	215,176
Total assets	209,911	291,893
Total deposits	5,937	4,419
Average assets	286,694	252,281
Operating Segments | LTC
Segment Reporting Information
Interest and dividend income	1	1
Interest expense	0	0
Net interest income	1	1
Provision for loan losses	0	0
Mortgage income	0	0
Service charges on deposit accounts	0	0
Title revenue	4,741	4,745
Other non-interest income	(6)	0
Allocated expenses	518	619
Non-interest expense	4,200	4,227
Income before income tax expense	18	(100)
Income tax expense	12	(32)
Net income	6	(68)
Total loans and loans held for sale, net of unearned income	0	0
Total assets	23,982	26,578
Total deposits	0	0
Average assets	$ 23,877	$ 27,312

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Commitments and Contingencies (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Fair value of guarantees under commercial and standby letters of credit	$ 1.7	$ 1.6

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Commitments and Contingencies - Summary of Financial Instruments Outstanding (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments to grant loans	$ 419,847	$ 355,558
Unfunded commitments under lines of credit	4,912,092	4,899,930
Commercial and standby letters of credit	165,784	163,560
Reserve for unfunded lending commitments	$ 11,660	$ 11,241	$ 14,033	$ 14,145

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Related Party Transactions (Details) $ in Thousands	Feb. 28, 2017 USD ($)	Feb. 15, 2017 USD ($)	Mar. 31, 2017 USD ($) bank	Dec. 31, 2016 USD ($)	Dec. 14, 2016 USD ($)
Related Party Transaction [Line Items]
Total debt outstanding to all lenders			$ 628,085	$ 628,953
Affiliated Entity | Stone Energy Corporation | Credit Facility
Related Party Transaction [Line Items]
Number of banks party to facility | bank			12
Total debt outstanding to all lenders	$ 341,500	$ 341,500			$ 341,500
Affiliated Entity | Stone Energy Corporation | Exit Facility
Related Party Transaction [Line Items]
Debt Instrument term		4 years
Borrowing base	$ 200,000
Affiliated Entity | Stone Energy Corporation | Exit Facility | Base Rate | Minimum
Related Party Transaction [Line Items]
Variable rate	2.00%
Affiliated Entity | Stone Energy Corporation | Exit Facility | Base Rate | Maximum
Related Party Transaction [Line Items]
Variable rate	3.00%
Affiliated Entity | Stone Energy Corporation | Exit Facility | LIBOR | Minimum
Related Party Transaction [Line Items]
Variable rate	3.00%
Affiliated Entity | Stone Energy Corporation | Exit Facility | LIBOR | Maximum
Related Party Transaction [Line Items]
Variable rate	4.00%
Affiliated Entity | Stone Energy Corporation | IBERIABANK | Credit Facility
Related Party Transaction [Line Items]
Percent of commitments held under facility			6.00%
Outstanding balance to IBERIABANK	$ 20,300	$ 20,300			$ 20,300
Affiliated Entity | Stone Energy Corporation | IBERIABANK | Exit Facility
Related Party Transaction [Line Items]
Percent of commitments held under facility	6.00%
Outstanding balance to IBERIABANK	$ 12,000