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Dec 31, 2020
IBC Q4 2020 Earnings Report
Net income decreased due to provision for credit losses and low market rates.
Key Takeaways
International Bancshares Corporation reported a decrease in net income for Q4 2020, with net income at $48.2 million and diluted earnings per share at $0.76, compared to $51.7 million and $0.78 respectively for the same period in 2019.
Net income for Q4 2020 was $48.2 million, a 6.8% decrease compared to Q4 2019.
Diluted earnings per share for Q4 2020 were $0.76, a 2.6% decrease compared to Q4 2019.
Annual net income for 2020 was $167.3 million, compared to $205.1 million in 2019.
Total assets reached $14.0 billion at the end of 2020, compared to $12.1 billion at the end of 2019.
Forward Guidance
The global health crisis resulting from COVID-19 has continued to impact our business. The long-term impact is still unknown since future economic conditions remain unclear.
Positive Outlook
- Exceptionally strong capital position
- Significant liquidity
- Strong relationship deposit base
- Responsive management strategies
- Very focused effort to reduce expenses and increase efficiencies
Challenges Ahead
- Global health crisis resulting from COVID-19 has continued to impact our business
- The long-term impact is still unknown since future economic conditions remain unclear
- Newly developed vaccines provide hope that the pandemic will end soon, but the timing remains to be seen since the vaccines are not yet widely available to most of the population
- Impacted by our provision for credit losses arising from the economic downturn as a result of COVID-19
Historical Earnings Impact
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Avg. Return Before/After Earnings
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