IBC Q3 net income $54.6M ($0.86 EPS), up 28% YoY; nine-month EPS $3.11, up 67%

INTERNATIONAL BANCSHARES CORP

2021-Q3 EPS reported $3.11

Q3 2021 net income $54.6M ($0.86 diluted EPS) vs $42.7M ($0.67) in Q3 2020, a 28.4% increase.
Nine-month net income $197.4M ($3.11 diluted EPS) vs $119.1M ($1.86) in 2020, up 67.2%.
Results boosted by $42.8M net-of-tax gain on sale of merchant banking investment in Q2 2021.
Credit loss expense decreased ~$24.9M net-of-tax as economic conditions improved, lowering provision.
Total assets $15.7B, deposits $12.2B, net loans $7.3B; low rates continue pressuring net interest income.

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