IBOC reports Q2 2024 net income $97.0M ($1.56 EPS), down 3.5% YoY

INTERNATIONAL BANCSHARES CORP

2024-Q2 EPS reported $3.12

Net income for H1 2024 was $194.3M ($3.12 diluted EPS) vs $202.1M ($3.25) in H1 2023, a 3.9% decrease.
Q2 2024 net income $97.0M ($1.56 EPS) vs $100.5M ($1.62) in Q2 2023.
Net interest income positively impacted by higher asset yields; interest expense increased due to higher deposit rates.
Provision for credit losses increased, driven by a charge-down of an impaired credit after a bankruptcy-related foreclosure.
Total assets $15.5B at June 30, 2024 vs $15.1B at Dec 31, 2023; deposits $12.0B vs $11.8B.

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