INTERNATIONAL BANCSHARES CORP

Listed Company

IBOCCIK 0000315709NasdaqLarge AcceleratedState Commercial BanksTexasFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$412.29M

Total Assets

$16.58B

Equity

$3.25B

Shares Out

62.18M

Op. Cash Flow

$491.06M

Business

INTERNATIONAL BANCSHARES CORP is a registered multibank financial holding company that owns and manages a group of subsidiary banks and non-banking affiliates to provide banking and related financial services. It offers commercial and retail banking products and services including checking and savings deposits, commercial, real estate and consumer loans, mortgage lending, international trade services, foreign-exchange and letters of credit, credit cards, escrow and securities products through third parties, and online and mobile banking. Its operations are organized around five wholly owned subsidiary banks and several direct non-banking and merchant banking subsidiaries and investment interests. It serves customers primarily across north, south, central and southeast Texas and the State of Oklahoma, with significant cross-border business involving customers domiciled in Mexico, delivered via branch networks, retail locations, ATMs and digital channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	700	681	620	402	359
Taxable	165	153	132	75	34
Tax-exempt	6	6	6	3	1
Other interest income	16	25	42	46	3
Total interest income	886	866	800	526	398
Savings deposits	83	82	60	13	4
Time deposits	103	97	53	11	12
Securities sold under repurchase agreements	19	22	15	2	621,000
Other borrowings	2	281,000	283,000	7	8
Junior subordinated deferrable interest debentures	7	8	8	5	3
Total interest expense	214	209	137	38	—
Net interest income	672	657	664	488	371
Credit loss expense	15	32	35	22	8
Net interest income after provision for credit losses	657	625	629	466	363
Investment securities transactions, net	−1,000	−1,000	−3,000	—	−16,000
Other investments income, net	7	13	10	18	69
Other income	19	21	19	33	25
Total non-interest income	170	177	170	187	222
Employee compensation and benefits	153	146	134	128	123
Occupancy	30	27	26	26	26
Depreciation of bank premises and equipment	23	23	22	22	25
Professional fees	14	16	14	11	8
Deposit insurance assessments	7	7	6	7	4
Net operations, other real estate owned	2	1	−4	122,000	5
Advertising	5	6	5	5	4
Software and software maintenance	23	21	20	15	18
Other	49	46	52	57	49
Total non-interest expense	307	293	275	270	263
Income before income taxes	520	509	524	383	322
Provision for income taxes	108	100	112	82	68
Net income	412	409	412	300	254
Weighted average number of shares outstanding (in shares)	62	62	62	63	63
Net income per common share (in dollars per share)	6.63	6.58	6.63	4.79	4.01
Weighted average number of shares outstanding (in shares)	62	62	62	63	63
Net income per common share (in dollars per share)	6.62	6.57	6.62	4.78	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	536	353	651	2,088	3,209
Held to maturity debt securities (Market value of $4,400 on December 31, 2025 and $4,400 on December 31, 2024)	4	4	3	3	—
Available for sale debt securities (Amortized cost of $5,281,090 on December 31, 2025 and $5,472,310 on December 31, 2024)	4,966	4,988	4,822	4,418	—
Equity securities with readily determinable fair values	6	5	5	5	6
Total investment securities	4,976	4,998	4,831	4,427	4,223
Loans	9,460	8,810	8,059	7,431	—
Less allowance for credit losses	−159	−157	−157	−126	−110
Net loans	9,301	8,653	7,902	7,305	—
Bank premises and equipment, net	423	428	437	432	447
Accrued interest receivable	72	72	65	46	31
Other investments	448	357	343	359	297
Cash surrender value of life insurance policies	310	303	303	301	297
Goodwill	283	283	283	283	283
Other assets	226	292	250	263	161
Total assets	16,576	15,739	15,066	15,501	16,046
Demand-non-interest bearing	4,486	4,612	5,031	5,846	5,839
Savings and interest bearing demand	4,749	4,600	4,369	4,746	4,591
Time	3,201	2,900	2,425	2,068	2,189
Total deposits	12,437	12,112	11,825	12,660	12,618
Securities sold under repurchase agreements	586	535	530	431	440
Other borrowed funds	10	11	11	11	436
Junior subordinated deferrable interest debentures	109	109	109	135	135
Other liabilities	183	176	144	220	109
Total liabilities	13,325	12,942	12,618	13,457	13,738
Common shares of $1.00 par value. Authorized 275,000,000 shares; issued 96,658,794 shares on December 31, 2025 and 96,616,673 shares on December 31, 2024	97	97	96	96	96
Surplus	161	159	156	154	152
Retained earnings	3,681	3,356	3,029	2,696	2,471
Accumulated other comprehensive loss	−246	−379	−398	−470	−32
Total shareholders' equity before treasury stock	3,693	3,233	2,883	2,476	2,687
Less cost of shares in treasury, 34,490,048 shares on December 31, 2025 and 34,407,674 on December 31, 2024	−441	−436	−435	−431	−379
Total shareholders' equity	3,252	2,797	2,448	2,045	2,308
Total liabilities and shareholders' equity	16,576	15,739	15,066	15,501	16,046

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	412	409	412	300	254
Specific reserve, other real estate owned	1	632,000	3	2	3
Gain on sale of bank premises and equipment	−23,000	−378,000	−198,000	−3	601,000
Loss (gain) on sale of other real estate owned	518,000	182,000	−7	−2	−170,000
Accretion of investment securities discounts	−5	−3	−2	−2	−702,000
Amortization of investment securities premiums	4	6	7	14	36
Unrealized (gain) loss on equity securities with readily determinable fair values	−180,000	24,000	−59,000	721,000	123,000
Stock based compensation expense	104,000	214,000	330,000	449,000	506,000
Earnings from affiliates and other investments	−6	−7	−983,000	−16	−68
Deferred tax expense (benefit)	14	−11	23	11	4
Increase in accrued interest receivable	−255,000	−7	−20	−15	7
Decrease (increase) in other assets	35	−8	−7	13	25
(Decrease) increase in other liabilities	−4	41	11	42	−6
Net cash provided by operating activities	491	474	474	388	292
Proceeds from maturities of securities	1	2	51	2	1
Proceeds from sales and calls of available for sale securities	15	4	2	800,000	6
Purchases of available for sale securities	−813	−985	−1,079	−1,455	−2,856
Principal collected on mortgage backed securities	987	834	629	756	1,613
Net increase in loans	−665	−812	−633	−228	310
Purchases of other investments	−131	−48	−31	−80	−62
Distributions from other investments	22	32	12	9	63
Purchases of bank premises and equipment	−18	−14	−27	−19	−10
Proceeds from sales of bank premises and equipment	23,000	874,000	269,000	13	11
Proceeds from sales of other real estate owned	9	2	9	9	8
Net cash used in investing activities	−592	−985	−1,067	−992	−916
Net decrease in non-interest bearing demand deposits	−126	−419	−815	8	1,123
Net increase (decrease) in savings and interest bearing demand deposits	149	231	−377	155	738
Net increase in time deposits	302	474	357	−121	35
Net increase in securities sold under repurchase agreements	50	5	99	−8	12
Paydowns on long-term other borrowed funds	−209,000	−204,000	−199,000	−425	−189,000
Redemption of long-term debt	—	—	−26	—	—
Purchase of treasury stock	−5	−963,000	−5	−52	−716,000
Proceeds from stock transactions	1	4	1	2	2
Payments of cash dividends	−87	−82	−78	−75	−73
Net cash provided by (used in) financing activities	284	213	−844	−517	1,836
Increase (decrease) in cash and cash equivalents	184	−298	−1,437	−1,122	1,212
Interest paid	217	202	118	36	29
U.S. federal income taxes paid	65	43	70	—	—
Net transfers from loans to other real estate owned	15	4	600,000	835,000	16
Net transfers from loans to other investments	—	26	—	—	—

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