IBC Reports Strong 2019 Earnings
2019年8月9日 - 1:44AM
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, 2019 was $101.9
million or $1.55 diluted earnings per common share
($1.55 per share basic) compared to $106.3 million or
$1.59 diluted earnings per common share ($1.61 per
share basic) for the same period of 2018, representing a 3.7
percent decrease in diluted earnings per share and a 4.1
percent decrease in net income. Net income for the three months
ended June 30, 2019 was $50.0 million or $.76 diluted
earnings per common share ($.76 per share basic)
compared to $52.9 million or $.79 diluted earnings
per common share ($.80 per share basic) for the same period
of 2018.
Net income for the six months ended June 30, 2019 was positively
affected by an increase in interest income due to a higher volume
of loans and an increase in the overall yield of the loan portfolio
offset somewhat by an increase in interest expense primarily due to
an increase in the cost of borrowings expense, and an increase in
the interest paid on savings and time deposit accounts.
“I am pleased with our continued earnings success for the first
half of 2019. The above-peer earnings success we saw in 2018 and
continue to see in 2019 can be attributed to our focus on building
and improving the performance of our core bank operations and
continued cost control, which has been augmented by the reform of
the tax laws at the end of 2017, resulting in additional net
earnings. Our earnings performance continues to exceed most of our
peers based on Bank Holding Company Performance Reports compiled by
the Federal Financial Institutions Examination Council.
Furthermore, we are confident in the strength of our balance sheet
and our strong capital position enhanced by our proven track record
for over 50 years,” said Dennis E. Nixon, president and CEO.
Total assets at June 30, 2019 were $12.2 billion compared
to $11.9 billion at December 31, 2018. Total net loans were
$6.8 billion at June 30, 2019 compared to $6.5
billion at December 31, 2018. Deposits were $8.8 billion at
June 30, 2019 compared to $8.7 billion at December 31,
2018.
IBC is a multi-bank financial holding company headquartered in
Laredo, Texas, with 189 facilities and 288 ATMs serving 89
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190808005659/en/
Judith Wawroski, Treasurer and Principal Financial Officer
International Bancshares Corporation (956) 722-7611
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