IBOC reports H1 2022 net income $111.5M; core earnings up 11.5% ex non-recurring item

INTERNATIONAL BANCSHARES CORP

2022-Q2 EPS reported $1.76

H1 2022 diluted EPS $1.76 vs $2.25 YoY (-21.8%); Q2 diluted EPS $0.92 vs $1.45 YoY (-36.6%).
Prior year included $42.8M after-tax gain from merchant banking sale; core H1 net income rose 11.5%.
Operating expenses for H1 2022 down $19.7M (12.9%) vs H1 2019 on sustained cost controls.
Total assets $16.3B, deposits $12.9B, net loans $6.9B as of June 30, 2022.
CEO notes inflation/recession risk but expresses confidence in capital and liquidity.

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