INTERNATIONAL BANCSHARES CORPORATION IBOC Income Statement

International bancshares corporation (IBOC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Interest income:
Loans, including fees
99,230	100,554	104,688	105,564	102,805	99,429	95,828	92,083	87,833	84,247	83,394	79,466	75,401	74,575	74,388	74,606	74,251	74,737	77,176	72,927	72,443	72,612	71,026	70,036	67,872	68,394	66,482	64,617	63,534	65,598	67,254	67,413	68,323	70,799	72,461	74,574	74,680	77,785	77,037	78,766	80,614	84,263	84,216
Investment securities:
Taxable
16,488	15,543	18,040	19,602	19,300	19,363	20,213	20,694	21,214	21,349	21,003	20,989	19,006	19,187	19,630	20,596	20,120	20,248	20,620	23,257	23,883	23,222	24,149	26,545	26,179	26,257	21,821	18,601	20,519	23,757	23,388	23,228	24,512	25,760	28,427	29,208	30,255	31,760	33,665	32,348	37,333	40,937	48,705
Tax-exempt
766	840	1,019	1,377	1,649	1,878	1,981	2,087	2,195	2,299	2,409	2,457	2,491	2,521	2,561	2,627	2,647	2,896	2,901	2,749	2,773	2,772	2,744	2,728	3,523	3,438	3,318	3,085	3,036	2,981	2,972	2,849	2,861	2,883	2,694	2,386	2,128	1,926	1,897	1,783	1,634	1,375	1,109
Other interest income
128	422	372	317	309	305	352	202	165	141	139	262	83	54	45	67	39	39	27	42	36	58	39	31	63	44	29	21	21	63	161	193	86	77	41	1,676	75	141	1,656	183	241	129	148
Total interest income
116,612	117,359	124,119	126,860	124,063	120,975	118,374	115,066	111,407	108,036	106,945	103,174	96,981	96,337	96,624	97,896	97,057	97,920	100,724	98,975	99,135	98,664	97,958	99,340	97,637	98,133	91,650	86,324	87,110	92,399	93,775	93,683	95,782	99,519	103,623	107,844	107,138	111,612	114,255	113,080	119,822	126,704	134,178
Interest expense:
Time deposits
5,970	5,868	5,680	5,044	4,378	3,924	3,493	3,010	2,669	2,533	2,426	2,401	2,376	2,444	2,551	2,394	2,574	2,719	2,807	2,833	2,874	2,918	2,976	3,019	3,120	3,377	3,644	3,978	4,445	5,323	5,910	6,255	6,485	7,005	7,636	8,145	8,770	9,794	11,298	12,822	13,053	14,757	16,042
Securities sold under repurchase agreements
465	612	640	591	589	576	468	348	1,023	1,226	1,177	1,146	3,068	4,285	5,480	5,552	5,559	5,680	6,041	6,062	5,994	6,142	6,150	6,088	6,236	7,129	7,162	7,312	7,568	8,265	8,811	10,267	10,302	10,456	10,608	10,613	10,586	10,924	11,005	11,235	11,052	11,110	11,151
Other borrowings
2,826	2,262	3,144	3,513	3,494	3,978	4,358	4,379	4,689	3,744	3,396	2,575	1,263	932	812	757	627	396	375	369	475	425	488	564	556	557	454	289	290	457	195	138	208	196	332	445	650	512	317	129	311	732	1,624
Junior subordinated deferrable interest debentures
1,273	1,390	1,414	1,681	1,950	1,870	1,828	1,765	1,526	1,425	1,395	1,322	1,250	1,223	1,159	1,122	1,096	1,011	1,019	1,045	1,024	1,063	1,063	1,048	1,090	1,474	862	1,165	1,164	1,217	1,430	1,901	2,047	2,267	2,771	2,998	3,037	3,052	3,072	3,047	3,030	3,095	3,164
Total interest expense
13,769	13,996	14,901	15,078	14,654	14,240	13,500	12,793	12,135	10,895	9,993	8,797	9,246	10,113	11,175	11,024	10,817	10,730	11,133	11,210	11,244	11,461	11,575	11,634	11,873	13,447	13,007	13,700	14,478	16,374	17,420	20,040	20,665	21,481	23,079	24,433	25,305	26,564	27,902	29,643	29,927	32,257	34,651
Net interest income
102,843	103,363	109,218	111,782	109,409	106,735	104,874	102,273	99,272	97,141	96,952	94,377	87,735	86,224	85,449	86,872	86,240	87,190	89,591	87,765	87,891	87,203	86,383	87,706	85,764	84,686	78,643	72,624	72,632	76,025	76,355	73,643	75,117	78,038	80,544	83,411	81,833	85,048	86,353	83,437	89,895	94,447	99,527
Provision for credit loss expenses
16,836	-	-	-	7,420	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for probable loan losses
-	-	5,278	2,665	-	2,900	4,280	-2,730	1,662	2,125	6,591	805	1,700	4,975	-1,347	7,097	9,134	5,429	8,832	7,767	2,377	5,884	2,816	3,645	2,078	5,407	5,800	4,342	7,419	11,218	5,349	6,107	5,285	9,485	5,670	-1,917	4,080	7,317	6,837	1,429	7,229	10,346	22,858
Net interest income after provision for credit losses
86,007	99,883	103,940	109,117	101,989	103,835	100,594	105,003	97,610	95,016	90,361	93,572	86,035	81,249	86,796	79,775	77,106	81,761	80,759	79,998	85,514	81,319	83,567	84,061	83,686	79,279	72,843	68,282	65,213	64,807	71,006	67,536	69,832	68,553	74,874	85,328	77,753	77,731	79,516	82,008	82,666	84,101	76,669
Non-interest income:
Service charges on deposit accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,035	17,854	18,110	19,156	20,627	19,850	19,192	21,560	22,514	22,450	22,062	24,724	25,026	23,507	23,830	23,527	23,748	23,100	22,753	25,063	24,205	23,918	24,782	24,797	25,613	24,954	24,280	25,425	24,246
Other service charges, commissions and fees
Banking
-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,722	10,957	10,377	10,415	11,028	13,075	10,453	10,645	10,880	12,090	10,820	9,713	11,327	10,052	9,983	9,543	9,492	9,424	10,064	9,499	13,749	14,412	13,026	12,356	11,787	12,167	11,620	10,513	10,871
Non-banking
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,803	1,694	1,297	2,166	2,091	1,856	1,110	2,320	2,083	1,161	1,899	2,448	2,092	1,515	1,061	2,027	2,038	1,682	1,251	2,958	1,677	1,177	1,492	2,309	2,607	1,855	1,668	5,485	2,291
Investment securities transactions, net
-5	0	-2	-6	-4	-	-141	-	-	-3,162	0	-2,539	927	-921	-1,345	-227	-133	-3,254	0	-427	-1	0	-6,446	-379	8,108	0	0	0	9,601	2,919	32,935	1,420	1,172	7,837	6,587	1,445	1,416	-	13	-	28,264	174	11,145
Other investments, net
-231	1,300	2,440	-1,703	3,948	3,705	5,625	5,841	4,726	6,882	4,938	2,830	4,268	9,128	4,082	2,766	7,851	4,852	4,400	3,462	4,255	5,015	5,641	2,309	9,058	2,880	3,871	8,635	6,997	1,908	3,650	2,647	5,134	3,716	2,749	4,220	5,356	5,513	4,710	4,116	3,357	3,374	3,803
Other income
4,809	5,657	4,813	4,513	2,540	4,942	3,643	5,727	4,055	2,516	2,774	2,901	2,894	3,418	3,233	3,567	3,429	2,399	4,876	2,328	1,825	2,686	1,811	3,822	6,239	5,402	2,165	2,996	1,780	2,664	2,144	2,546	2,803	4,979	2,244	2,692	2,294	3,564	2,159	3,735	2,408	5,904	3,836
Total non-interest income
35,130	41,584	42,697	34,416	36,129	41,261	42,503	42,303	38,975	37,362	41,366	33,963	37,715	43,630	40,530	36,611	40,931	35,734	43,022	40,144	36,834	42,226	36,483	41,453	58,186	45,167	44,481	46,705	53,252	42,588	74,007	40,819	43,177	54,052	51,211	47,864	48,366	50,898	46,889	49,400	71,597	50,875	56,192
Non-interest expense:
Employee compensation and benefits
36,330	35,236	37,038	37,246	36,409	33,862	35,360	34,692	34,618	33,494	33,787	32,739	32,730	32,815	33,908	31,155	30,783	31,771	31,962	29,650	31,752	28,951	32,326	29,989	30,245	28,243	30,627	30,764	30,211	27,889	30,541	30,210	29,401	29,315	32,034	32,620	32,035	30,928	32,379	32,498	31,664	35,316	32,324
Occupancy
6,899	8,384	7,294	6,580	6,377	9,020	6,839	7,163	6,075	9,615	6,416	6,417	5,991	8,358	6,153	5,906	6,166	8,016	7,143	6,681	6,179	9,801	7,865	7,856	7,008	9,170	7,604	7,180	7,812	9,735	8,032	8,107	8,734	10,466	10,640	9,015	8,601	10,042	9,347	8,724	8,518	8,723	8,459
Depreciation of bank premises and equipment
7,109	7,130	7,127	7,032	6,981	6,776	6,460	6,364	6,273	6,345	6,407	6,302	6,227	6,175	6,175	6,208	6,180	6,211	6,240	6,332	6,226	5,930	5,937	6,054	6,092	6,340	6,433	6,619	6,625	6,421	6,618	6,790	6,927	10,186	8,491	7,931	8,327	8,644	8,770	8,969	9,012	8,965	8,978
Professional fees
3,970	5,580	4,744	3,745	3,592	2,591	4,063	3,375	2,572	2,507	3,577	3,850	3,716	3,272	3,661	3,446	3,293	1,563	3,448	4,020	3,247	582	3,416	3,315	3,612	1,802	3,669	3,952	3,723	2,549	4,279	4,171	3,370	1,725	3,698	3,689	3,886	3,571	4,291	3,781	3,982	3,207	3,268
Deposit insurance assessments
-	-1,055	829	859	783	840	928	974	1,000	984	1,007	913	390	1,444	1,332	1,508	1,493	1,497	1,511	1,440	1,490	1,570	1,515	1,558	1,439	1,676	1,683	1,762	1,616	2,363	2,289	1,490	1,567	1,526	2,472	2,592	2,457	2,566	2,475	2,668	2,544	1,751	5,536
Net expense, other real estate owned
-3,002	-2,601	-1,578	-1,203	-995	-1,124	-911	-2,649	271	24	407	-482	-914	-1,113	-2,320	-1,377	-878	-1,621	-1,678	-928	-1,468	-654	55	-830	-929	-2,172	-1,360	-1,575	-1,789	-3,298	-3,065	-1,385	-1,181	-3,599	-1,954	-8,150	-1,114	-	-525	-905	-	-	-
Stationery and supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,109	979
Amortization of identified intangible assets
-	-	-	-	-	-	-	-	-	0	0	0	25	32	32	32	32	203	161	161	119	143	117	1,148	981	1,182	1,156	1,158	1,137	1,188	1,163	1,163	1,137	1,343	1,324	1,323	1,303	1,338	1,321	1,324	1,301	1,320	1,321
Advertising
1,984	1,598	1,987	2,081	2,082	2,028	2,020	1,808	1,839	1,406	2,064	2,116	2,268	1,469	1,921	2,319	2,105	1,698	1,857	2,023	2,007	2,029	1,928	1,955	1,830	1,370	1,795	2,023	1,846	1,507	1,713	1,970	1,827	386	1,794	1,840	1,787	169	2,480	2,453	2,614	2,647	2,627
Early termination fee - securities sold under repurchase agreements
-	-	-	-	-	-	-	-	-	0	0	0	5,765	-	1,799	-	-	-	3,510	-	-	0	0	0	11,000	0	0	2,418	9,885	-	31,550	-	-	-	-	-	-	-	-	-	-	-	-
Software and software maintenance
4,491	5,659	4,691	5,003	4,497	4,573	4,481	4,390	4,072	7,034	4,302	4,062	3,791	4,366	3,687	3,723	3,311	-	2,740	2,563	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Litigation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	34	0	21,803	-	-
Impairment charges (Total other-than-temporary impairment charges, $0 net of $0, $0 net of $0, and $793 net of $1,147 included in other comprehensive loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	73	90	67	124	254	249	224	227	265	273	189	90	74	573	417	310	392	239	222	186	276	286	166	249	3,255	531	-2,573	7,203	-	-
Impairment charges (Total other-than-temporary impairment charges, $(254), net of $(420), $17, net of ($241), $1,055, net of $640, and $4,045, net of $(3,416) included in other comprehensive income)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	258	-	-	-
Other
13,197	11,038	15,778	15,864	11,235	11,110	17,005	19,186	12,731	11,337	14,558	16,832	13,809	8,696	15,589	16,243	13,553	7,376	14,399	14,249	14,908	4,811	16,835	15,736	14,470	15,801	15,327	15,846	15,907	13,352	16,955	16,583	13,813	18,255	17,597	16,616	15,706	12,998	17,226	17,884	16,936	15,708	21,689
Total non-interest expense
76,982	76,171	81,066	79,613	72,951	71,924	78,067	80,601	68,909	72,698	71,711	73,713	75,626	73,056	76,667	71,984	67,918	66,132	74,898	68,271	67,623	64,560	70,157	68,630	77,696	67,830	70,227	73,714	80,861	68,694	106,444	72,091	68,143	77,077	80,290	83,942	75,465	75,305	79,379	79,464	105,577	78,746	85,181
Income before income taxes
44,155	65,296	65,571	63,920	65,167	73,172	65,030	66,705	67,676	59,680	60,016	53,822	48,124	51,823	50,659	44,402	50,119	51,363	48,883	51,871	54,725	58,985	49,893	56,884	64,176	56,616	47,097	41,273	37,604	38,701	38,569	36,264	44,866	45,528	45,795	49,250	50,654	53,324	47,026	51,944	48,686	56,230	47,680
Provision for income taxes
9,317	13,562	14,127	13,900	13,261	14,643	13,935	13,818	14,256	14,445	20,388	13,253	16,120	16,350	14,872	14,714	17,135	16,393	16,864	17,996	18,863	20,432	16,660	19,165	20,530	17,673	15,271	13,760	9,535	12,981	12,691	11,714	13,179	15,155	15,164	16,626	17,133	22,904	13,477	17,936	16,640	19,257	16,547
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,688	32,984	-	-	-	-	-	-	-	-	-	-	27,513	-	21,901	22,033	21,195	28,344	27,037	27,307	29,309	30,216	27,125	30,263	30,731	28,778	33,723	27,891
Preferred stock dividends and discount accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,819	3,845	3,355	3,343	3,336	3,324	3,315	3,305	3,295	3,286	3,277	3,268	3,250	3,242
Net income
34,838	51,734	51,444	50,020	51,906	58,529	51,095	52,887	53,420	45,235	39,628	40,569	32,004	-	35,787	-	-	34,970	32,019	33,875	35,862	-	33,233	37,719	43,646	38,943	31,826	27,513	28,069	25,720	25,878	24,550	31,687	30,373	30,631	32,624	33,521	30,420	33,549	34,008	32,046	36,973	31,133
Basic earnings per common share:
Weighted average number of shares outstanding (in shares)
65,070	65,191	65,449	65,648	65,617	66,083	66,136	66,114	66,092	66,075	66,060	66,053	65,994	64,964	65,948	66,944	66,014	66,353	66,449	66,424	66,416	66,572	66,860	66,925	67,130	67,204	67,197	67,190	67,187	67,205	67,225	67,244	67,271	67,272	67,423	67,628	67,701	67,695	67,822	68,063	68,103	68,192	68,520
Net income (in dollars per share)
0.54	0.79	0.79	0.76	0.79	0.89	0.77	0.80	0.81	0.69	0.60	0.61	0.48	0.54	0.54	0.45	0.50	0.53	0.48	0.51	0.54	0.58	0.50	0.56	0.65	0.58	0.47	0.41	0.42	0.32	0.33	0.32	0.42	0.40	0.41	0.43	0.45	0.40	0.45	0.45	0.42	0.49	0.41
Fully diluted earnings per common share:
Weighted average number of shares outstanding (in shares)
65,228	65,408	65,636	65,867	65,831	66,316	66,423	66,932	66,863	66,905	66,745	66,715	66,747	66,685	66,291	66,159	66,118	66,644	66,661	66,684	66,555	66,865	67,016	67,071	67,272	67,353	67,333	67,292	67,279	67,274	67,301	67,323	67,355	67,338	67,469	67,689	67,779	67,767	67,880	68,163	68,205	68,207	68,520
Net income (in dollars per share)
0.53	0.79	0.78	0.76	0.79	0.88	0.77	0.79	0.80	0.68	0.59	0.61	0.48	0.53	0.54	0.45	0.50	0.52	0.48	0.51	0.54	0.57	0.50	0.56	0.65	0.58	0.47	0.41	0.42	0.33	0.33	0.31	0.42	0.41	0.40	0.43	0.45	0.40	0.45	0.45	0.42	0.49	0.41
Services charges on deposit accounts
Service charges
17,637	18,909	18,723	17,610	17,260	18,775	18,391	17,555	17,712	18,374	18,706	17,882	17,906	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other service charges, commissions and fees, Banking
Service charges
11,166	13,648	14,708	11,764	10,876	11,311	13,100	11,152	11,122	10,459	13,095	11,025	10,385	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other service charges, commissions and fees, Non-banking
Service charges
1,754	2,070	2,015	2,238	1,509	2,528	1,885	2,028	1,360	2,293	1,853	1,864	1,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-