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Jun 30, 2022
IBC Q2 2022 Earnings Report
Net income decreased due to a non-recurring transaction in 2021, but increased when excluding this transaction.
Key Takeaways
International Bancshares Corporation reported a decrease in net income for the second quarter of 2022 compared to the same period in 2021. The decrease is attributed to a non-recurring transaction in 2021. Total assets and deposits increased, while total net loans decreased.
Net income for the quarter was $58.0 million, a decrease of 37.0 percent compared to 2021.
Diluted earnings per share were $0.92, a decrease of 36.6 percent compared to 2021.
Total assets reached $16.3 billion, an increase from $16.0 billion at the end of 2021.
Deposits amounted to $12.9 billion, an increase from $12.6 billion at the end of 2021.
Forward Guidance
The company is focused on managing expenses and growing non-interest income while monitoring the effects of COVID-19, supply chain issues, and inflation.
Positive Outlook
- Exceptionally strong capital position
- Significant liquidity
- Strong relationship deposit base
- Responsive management strategies
- Legacy commitment to expense control
Challenges Ahead
- Lingering effect of COVID-19 on business and the economy
- Global supply chain issues affecting most sectors of the economy
- Historically high levels of inflation
- Federal Reserve Board actions to control inflation may have begun too late
- An economic recession may be in our future
Historical Earnings Impact
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Avg. Return Before/After Earnings
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