International Bancshares - IBOC STOCK NEWS

International Bancshares Corporation (NASDAQ: IBOC) reported a strong annual net income of $300.2 million for 2022, a 19.5% increase in diluted earnings per share to $4.78. This reflects an 18.2% rise in net income from the previous year. Q4 2022 net income surged 86.5% to $105.4 million or $1.69 EPS. The results were driven by a growth in net interest income due to an expanded investment portfolio and higher loan interest, despite rising expenses. Total assets decreased to $15.5 billion, while deposits grew to $12.7 billion by year-end.

International Bancshares Corporation (NASDAQ: IBOC) declared a cash dividend of .63 cents per share, an increase of 5% from the previous dividend. This dividend is for shareholders of record as of February 15, 2023 and will be paid on February 28, 2023. The decision reflects IBC's strong financial performance, bolstered by a robust capital position and significant liquidity, alongside over fifty-six years of positive earnings. The company aims to enhance shareholder value through responsible management and sustainable growth.

International Bancshares Corporation (NASDAQ:IBOC) reported a net income of $83.4 million or $1.34 diluted EPS for Q3 2022, marking a 55.8% rise in diluted EPS year-over-year. However, net income for the first nine months of 2022 decreased by 1.3% to $194.8 million, compared to $197.4 million in 2021. This decline is attributed to a non-recurring transaction in 2021 that provided a one-time gain of $42.8 million. Total assets grew to $16.1 billion, and total deposits increased to $12.9 billion as of September 30, 2022.