IBC Reports Strong Earnings in 2024
Net income for 2024 continues to be positively impacted by an increase in interest income earned on our investment and loan portfolios driven primarily by both an increase in the size of our investment and loan portfolios and the current rate environment, which remains elevated as a result of Federal Reserve Board actions to raise interest rates in recent years. Net interest income has been negatively impacted by an increase in interest expense, primarily driven by increases in rates paid on deposits. We continue to closely monitor and adjust rates paid on deposits to remain competitive to grow and retain deposits.
“We are extremely pleased and proud to continue our industry-leading financial results in 2024, which we feel will continue to keep us at the top of the rankings against other publicly held banks in America. As we move into 2025, we will remain focused and vigilant on delivering superior customer service, continued execution of our long-standing practices of balance sheet, asset, liability and liquidity management, strong cost controls and evaluating processes for efficiencies across our organization. We believe that with continued focus on these established practices supported by new initiatives, we will continue to deliver industry-leading financial results,” said Dennis E. Nixon, president and CEO.
Total assets at Dec. 31, 2024 were approximately
IBC is a multi-bank financial holding company headquartered in
“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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Judith Wawroski,
Treasurer and Principal Financial Officer
International Bancshares Corporation
(956) 722-7611
Source: International Bancshares Corporation