IBC Net Income Falls 3.7% to $294.1 Million for Nine Months Ended September 30, 2024
International Bancshares reported net income of $294.1 million, or $4.72 per diluted share, for the nine months ended September 30, 2024, down from $305.4 million, or $4.91 per diluted share, a year earlier. Third-quarter net income fell to $99.8 million, or $1.60 per diluted share, from $103.3 million, or $1.66, in the same period of 2023. The company cited higher rates paid on deposits and increased non-interest expenses, including inflation-driven costs and higher salary and compensation costs, as factors weighing on results.
Key points
- Nine-month net income was $294.1 million, down 3.7% from $305.4 million; diluted EPS was $4.72, down 3.9% from $4.91.
- Three-month net income was $99.8 million, down 3.4% from $103.3 million; diluted EPS was $1.60 versus $1.66.
- Total assets were $15.9 billion at September 30, 2024, compared with $15.1 billion at December 31, 2023.
- Net interest income was pressured by higher interest expense, primarily from increased rates paid on deposits.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 07, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.