IBC Reports Strong Earnings in 2024
International Bancshares (NASDAQ:IBOC) reported its 2024 annual net income of $409.2 million or $6.57 diluted EPS, showing a slight decrease of 0.8% in EPS and 0.6% in net income compared to 2023's $411.8 million. However, Q4 2024 showed stronger performance with net income of $115.1 million, up 8.2% from Q4 2023.
The bank's performance was positively influenced by increased interest income from investment and loan portfolios, though partially offset by higher interest expenses on deposits. Total assets reached $15.7 billion, up from $15.1 billion in 2023. Net loans grew to $8.7 billion from $7.9 billion, while deposits increased to $12.1 billion from $11.8 billion year-over-year.
International Bancshares (NASDAQ:IBOC) ha riportato un reddito netto annuale per il 2024 di 409,2 milioni di dollari o un utile per azione (EPS) diluito di $6,57, mostrando una leggera diminuzione dello 0,8% nell'EPS e dello 0,6% nel reddito netto rispetto ai 411,8 milioni di dollari del 2023. Tuttavia, il quarto trimestre del 2024 ha mostrato una performance più forte con un reddito netto di 115,1 milioni di dollari, in aumento dell'8,2% rispetto al quarto trimestre del 2023.
Le performance della banca sono state positivamente influenzate dall'aumento del reddito da interessi proveniente dai portafogli di investimenti e prestiti, sebbene parzialmente compensate da maggiori spese per interessi sui depositi. Gli attivi totali hanno raggiunto 15,7 miliardi di dollari, in aumento rispetto ai 15,1 miliardi di dollari del 2023. I prestiti netti sono cresciuti a 8,7 miliardi di dollari rispetto ai 7,9 miliardi di dollari, mentre i depositi sono aumentati a 12,1 miliardi di dollari rispetto agli 11,8 miliardi di dollari dell'anno precedente.
International Bancshares (NASDAQ:IBOC) reportó un ingreso neto anual de $409.2 millones o un EPS diluido de $6.57, mostrando una ligera disminución del 0.8% en el EPS y del 0.6% en el ingreso neto en comparación con los $411.8 millones de 2023. Sin embargo, el cuarto trimestre de 2024 mostró un desempeño más fuerte con un ingreso neto de $115.1 millones, un aumento del 8.2% con respecto al cuarto trimestre de 2023.
El desempeño del banco se vio positivamente influenciado por el aumento de los ingresos por intereses de las carteras de inversión y préstamos, aunque parcialmente compensado por mayores gastos por intereses en depósitos. Los activos totales alcanzaron $15.7 mil millones, un aumento desde $15.1 mil millones en 2023. Los préstamos netos crecieron a $8.7 mil millones desde $7.9 mil millones, mientras que los depósitos aumentaron a $12.1 mil millones desde $11.8 mil millones en comparación con el año anterior.
International Bancshares (NASDAQ:IBOC)는 2024년 연간 순이익이 4억 920만 달러 또는 희석 주당순이익(EPS) $6.57를 기록했다고 보고했으며, 이는 2023년의 4억 1천 180만 달러에 비해 EPS가 0.8%와 순이익이 0.6% 감소한 수치입니다. 그러나 2024년 4분기에는 순이익이 1억 1천 510만 달러로 2023년 4분기보다 8.2% 증가한 더 강력한 성과를 보였습니다.
은행의 성과는 투자 및 대출 포트폴리오에서의 이자 수익 증가에 긍정적인 영향을 받았으나, 예금에 대한 높은 이자 비용으로 인해 부분적으로 상쇄되었습니다. 총 자산은 157억 달러에 도달했으며, 이는 2023년의 151억 달러에서 증가한 것입니다. 순 대출은 87억 달러로 증가했으며, 이는 79억 달러에서 증가한 것이고, 예금은 121억 달러로 증가했으며, 이는 118억 달러에서 증가한 것입니다.
International Bancshares (NASDAQ:IBOC) a annoncé un revenu net annuel de 409,2 millions de dollars pour 2024, soit un bénéfice par action (EPS) dilué de $6,57, ce qui représente une légère diminution de 0,8 % de l'EPS et de 0,6 % du revenu net par rapport à 411,8 millions de dollars en 2023. Cependant, le quatrième trimestre 2024 a montré une performance plus forte avec un revenu net de 115,1 millions de dollars, en hausse de 8,2 % par rapport au quatrième trimestre 2023.
La performance de la banque a été positivement influencée par l'augmentation des revenus d'intérêts provenant des portefeuilles d'investissement et de prêts, bien que partiellement compensée par des charges d'intérêts plus élevées sur les dépôts. Les actifs totaux ont atteint 15,7 milliards de dollars, en hausse par rapport à 15,1 milliards de dollars en 2023. Les prêts nets ont augmenté à 8,7 milliards de dollars contre 7,9 milliards de dollars, tandis que les dépôts ont augmenté à 12,1 milliards de dollars contre 11,8 milliards de dollars d'une année sur l'autre.
International Bancshares (NASDAQ:IBOC) berichtete über ein jährliches Nettoergebnis von 409,2 Millionen Dollar für 2024 oder ein verwässertes EPS von $6,57, was einen leichten Rückgang von 0,8% im EPS und 0,6% im Nettoergebnis im Vergleich zu 411,8 Millionen Dollar im Jahr 2023 zeigt. Das vierte Quartal 2024 zeigte jedoch eine stärkere Leistung mit einem Nettoergebnis von 115,1 Millionen Dollar, was einem Anstieg von 8,2% gegenüber dem vierten Quartal 2023 entspricht.
Die Leistung der Bank wurde positiv durch gestiegene Zinseinnahmen aus Investitions- und Kreditportfolios beeinflusst, wurde jedoch teilweise durch höhere Zinsaufwendungen für Einlagen ausgeglichen. Die Gesamtsumme der Vermögenswerte erreichte 15,7 Milliarden Dollar, ein Anstieg von 15,1 Milliarden Dollar im Jahr 2023. Die Netto-Kredite stiegen auf 8,7 Milliarden Dollar von 7,9 Milliarden Dollar, während die Einlagen auf 12,1 Milliarden Dollar von 11,8 Milliarden Dollar im Jahresvergleich anstiegen.
- Q4 net income up 8.2% to $115.1M
- Total assets grew to $15.7B from $15.1B
- Net loans increased by $800M to $8.7B
- Deposits rose by $300M to $12.1B
- Annual net income down 0.6% to $409.2M
- Diluted EPS decreased 0.8% to $6.57
- Higher interest expenses on deposits
Insights
International Bancshares (IBOC) reported $409.2 million in annual net income for 2024 ($6.57 diluted EPS), showing a marginal year-over-year decline of 0.6% from 2023's $411.8 million. However, Q4 results demonstrate a notable improvement with net income reaching $115.1 million ($1.85 diluted EPS), an 8.2% increase compared to Q4 2023, potentially signaling a positive inflection point.
The bank's balance sheet shows healthy expansion with total assets growing to $15.7 billion (4.0% increase year-over-year), net loans rising to $8.7 billion (10.1% increase), and deposits growing to $12.1 billion (2.5% increase). This loan growth outpacing deposit growth has pushed IBOC's loan-to-deposit ratio from 66.9% to 71.9%, which should enhance net interest margin but requires careful liquidity management.
The financial performance reflects IBOC's ability to navigate the challenging interest rate environment. While higher rates boosted interest income from both investment and loan portfolios, this was partially offset by increased deposit costs as the bank competes to retain and grow its deposit base. The stronger Q4 performance suggests IBOC may have optimized its deposit pricing strategy while still benefiting from the elevated rate environment.
IBOC's concentrated presence in Texas and Oklahoma (166 facilities across 75 communities) provides a stable regional foothold but also creates exposure to these regional economies. The bank's focus on balance sheet management, cost control, and operational efficiency positions it well for potential interest rate cuts in the coming year, which could reduce pressure on deposit costs while maintaining asset yields in the near term.
With solid capital levels implied by consistent performance, IBOC appears well-positioned to continue its self-described "industry-leading financial results" while potentially returning capital to shareholders through dividends or share repurchases.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250227592148/en/
Judith Wawroski,
Treasurer and Principal Financial Officer
International Bancshares Corporation
(956) 722-7611
Source: International Bancshares Corporation
FAQ
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