IBC Reports Earnings
2012年11月6日 - 1:32AM
ビジネスワイヤ(英語)
International Bancshares Corporation (NASDAQ: IBOC), one of the
largest independent bank holding companies in Texas, today reported
net income of $82.1 million for the nine months ended
September 30, 2012, compared to $96.8 million for the same
period of 2011, prior to amounts related to participation in the
TARP program, including preferred stock dividends and amounts
related to the Warrant. After the TARP program amounts, net income
for the nine months ended September 30, 2012 applicable to
common shareholders was $71.6 million, or $1.06
diluted and basic earnings per common share, compared to
$86.8 million or $1.28 diluted and basic earnings per
common share for the same period of 2011, representing a decrease
of 17.2 percent in diluted earnings per common share. Net
income for the three months ended September 30, 2012 was
$25.9 million, a decrease of 15.4 percent compared to
net income of $30.6 million for the same period of 2011,
prior to amounts related to participation in the TARP program,
including preferred stock dividends and amounts related to the
Warrant. After these amounts, net income for the third quarter of
2012 applicable to common shareholders was $22.0 million, or
$.33 diluted earnings per common share and $.33 basic
earnings per common share, compared to $27.3 million or
$.40 diluted earnings per common share and $.41 basic
earnings per common share for the same period in 2011, representing
a decrease of 17.5 percent in diluted earnings per common
share and a decrease of 19.4 percent in net income.
Net income available to common shareholders for the nine months
ended September 30, 2012 decreased by 17.5 percent when compared to
the same period in 2011. Net income available to common
shareholders for the third quarter of 2012 decreased by 19.4
percent compared to the same period in 2011. Net income during the
first nine months of 2011 was positively affected by a lower
provision for probable loan losses of approximately $7.8 million,
$5.0 million after tax compared to $16.7 million, $10.9 million
after tax in 2012. Net income for the first nine months of 2012 was
negatively impacted by narrowing interest margins caused by slow
loan demand and declining yields in the bond markets coupled with
lower levels of revenues on interchange fee income and overdraft
programs due to regulatory changes, as well as the burden of
increasing compliance costs arising from the Dodd-Frank Act and
heightened regulatory oversight.
“Earnings challenges for the industry, especially community
banks, have become a significant factor in operating a community
bank in today’s uncertain economic and regulatory environment.
Management has taken and will continue to take aggressive steps to
improve revenues and control expenses in this difficult period with
the goal of improving performance. Management continues to have
great confidence in the strength of the Company’s balance sheet and
especially its strong capital position,” said Dennis E. Nixon,
President and CEO. Nixon further indicated that the economic
conditions in the Company’s markets continue to improve and in many
cases lead the nation in economic growth. “These conditions create
a favorable environment to grow earnings, even in the face of the
regulatory headwinds facing the entire banking industry,” stated
Mr. Nixon. Mr. Nixon further commented, “The Company has continued
to make partial repayments of the TARP preferred stock, which will
reduce dividend payments on the preferred stock and should improve
the return for the common shareholders.”
Total assets at September 30, 2012 were $12.1 billion
compared to $11.7 billion at December 31, 2011. Net
loans were $4.8 billion at September 30, 2012 compared to
$5.0 billion at December 31, 2011. Deposits were
$8.0 billion at September 30, 2012 and $7.9 billion
at December 31, 2011.
IBC is a multi-bank financial holding company headquartered in
Laredo, Texas, with 215 facilities and more than 335 ATMs serving
88 communities in Texas and Oklahoma.
“Safe Harbor” statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release which
are not historical facts contain forward looking information with
respect to future developments or events, expectations, plans,
projections or future performance of IBC and its subsidiaries, the
occurrence of which involve certain risks and uncertainties,
including those detailed in IBC’s filings with the Securities and
Exchange Commission.
Copies of IBC’s SEC filings and Annual Report (as an exhibit to
the 10-K) may be downloaded from the SEC filings site located at
http://www.sec.gov/edgar.shtml.
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