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Jun 30, 2021
IBC Q2 2021 Earnings Report
Net income increased significantly due to the sale of an equity interest and a decrease in the provision for credit losses.
Key Takeaways
International Bancshares Corporation reported a substantial increase in net income for the quarter ended June 30, 2021, driven by the sale of an equity interest and a reduction in credit loss expenses. The company remains confident in its capital position and is committed to making prudent decisions to protect its future.
Net income for the three months ended June 30, 2021, was $92.0 million, compared to $41.5 million for the same period in 2020.
Diluted earnings per share increased by 123.1 percent to $1.45, compared to $0.65 for the same period in 2020.
The sale of an equity interest in a merchant banking investment contributed $42.8 million to net income.
A decrease in the provision for credit losses also positively impacted net income.
Forward Guidance
The company did not provide forward guidance in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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