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Mar 31, 2021
IBC Q1 2021 Earnings Report
IBC reported strong earnings due to decrease in provision for credit losses.
Key Takeaways
International Bancshares Corporation reported a strong first quarter with a net income of $50.8 million, representing an increase of 46.0% compared to the same period in 2020. The diluted earnings per share increased by approximately 50.9%. The results were positively impacted by a decrease in credit loss expense due to stabilizing economic conditions.
Net income increased by approximately 46.0 percent compared to Q1 2020.
Diluted earnings per share increased by approximately 50.9 percent compared to Q1 2020.
Decrease in the provision for credit losses positively impacted net income.
Total assets reached approximately $14.9 billion.