IBC Reports 46% Increase in Year to Date 2018 Earnings
2018年8月8日 - 2:56AM
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 for the six months ended June 30, 2018 of $106.3
million or $1.59 diluted earnings per common share
($1.61 per share basic) compared to $72.6 million or
$1.09 diluted earnings per common share ($1.10 per
share basic), which results in an increase of 46% in net
income and 46% in diluted earnings per share over the
corresponding period of 2017. Net income for the three months ended
June 30, 2018 was $52.9 million or $.79 diluted
earnings per common share ($.80 per share basic) compared to
$40.6 million or $.61 diluted per common share
($.61 per share basic), which represents a 30%
increase in net income and a 30% increase in diluted
earnings per share over the corresponding period of 2017.
Net income for the three and six months ended June 30, 2018 was
positively impacted by a decrease in the provision for probable
loan losses compared to the same periods of 2017 as a result of a
decrease in the historical loss experience in the commercial
category of the allowance for probable loan losses calculation. Net
income for the same periods was also impacted positively by an
increase in net interest income due to a higher volume of loans and
an increase in the overall yield of the loan portfolio. Interest
expense increased slightly for the same period and can be
attributed to an increase in the cost of borrowings expense and the
rates paid on deposit liabilities, which have increased as a result
of recent Federal Reserve Board actions to raise interest rates.
Net income for the first six months of 2018 was also positively
impacted by a decrease in the effective tax rate on the Company’s
taxable income, arising from the Tax Cut and Jobs Act signed into
law on December 22, 2017. As a result of the decrease in corporate
tax rates to 21% from 35%, income tax expense decreased by
approximately $19 million.
“I continue to be very pleased with the Company’s exceptional
earnings success for the second quarter and the first six months of
2018. The success was achieved by improved performance in the
Company’s core bank operations, but also by the actions taken to
reform the tax laws at the end of 2017, which have benefitted the
Company and the economy as a whole, including the communities we
serve. We have a proven track record of success and continue to
achieve earnings that exceed the majority of our peers based on
Bank Holding Company Performance Reports compiled by the Federal
Financial Institutions Examination Council, and are confident in
the strength of our balance sheet and our strong capital position,”
said Dennis E. Nixon, President and CEO.
Total assets at June 30, 2018 were $12.0 billion compared
to $12.2 billion at December 31, 2017. Total net loans were
$6.4 billion at June 30, 2018 compared to $6.3
billion at December 31, 2017. Deposits were $8.7
billion at June 30, 2018 compared to $8.5 billion at
December 31, 2017.
IBC is a multi-bank financial holding company headquartered in
Laredo, Texas, with 191 facilities and 289 ATMs serving 90
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 plans, projections or future performance of IBC and its
subsidiaries, the occurrence of which involve certain risks and
uncertainties 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180807005744/en/
International Bancshares CorporationJudith Wawroski,
956-722-7611Treasurer
International Bancshares (NASDAQ:IBOC)
過去 株価チャート
から 6 2024 まで 7 2024
International Bancshares (NASDAQ:IBOC)
過去 株価チャート
から 7 2023 まで 7 2024