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Mar 31, 2023
IBC Q1 2023 Earnings Report
IBC reported stellar earnings, with net income significantly increased.
Key Takeaways
International Bancshares Corporation reported a net income of $101.6 million for the three months ended March 31, 2023, a 90 percent increase compared to the same period in 2022. Diluted earnings per share increased by 94 percent to $1.63. The increase in net income was positively impacted by an increase in net interest income.
Net income for Q1 2023 increased by 90% compared to Q1 2022.
Diluted earnings per share increased by 94% to $1.63.
Total assets were $15.1 billion at the end of March 31, 2023.
Deposits totaled $12.3 billion at the end of March 31, 2023.
IBC
IBC
Forward Guidance
The company is confident in its capital position, liquidity, deposit base, and management strategies for continued success.
Positive Outlook
- Exceptionally strong capital position
- Significant liquidity
- Strong relationship deposit base
- Responsive management strategies
- Commitment to expense control and non-interest income growth
Challenges Ahead
- Highly volatile and uncertain economic conditions
- Rising interest expense from increasing deposit rates
- Potential recession impacting loan portfolio
- Monitoring rates paid on deposits by competitors
- Allowing certain deposits to run off if pricing is unacceptable