secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BANCSHARES CORP (IBOC)
CIK:        0000315709
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001558370-24-010562
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/315709/000155837024010562/0001558370-24-010562-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/315709/000155837024010562/iboc-20240801x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-010562

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