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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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