International Bancshares (US:IBOC)2024-02-26 18:29Financial Performance - International Bancshares Corporation reported a 37.2% increase in net income for 2023, totaling $411.8 million compared to $300.2 million in 2022[2] - Diluted earnings per share increased by 38.5% to $6.62 in 2023 from $4.78 in 2022[2] - Non-interest income for 2023 was $169.9 million, a decrease from $187.1 million in 2022[4] Income and Assets - Net interest income rose to $663.5 million in 2023, up from $487.6 million in 2022, driven by an increase in the investment portfolio and loan interest income[4] - Total assets decreased to $15.1 billion at December 31, 2023, down from $15.5 billion at the end of 2022[7] - Total net loans increased to $7.9 billion at December 31, 2023, compared to $7.3 billion at the end of 2022[7] - Deposits decreased to $11.8 billion at December 31, 2023, down from $12.7 billion at the end of 2022[7] Strategic Focus - The company emphasized its focus on managing interest income and expense in the current economic environment[3] - The return on assets (ROA) positions International Bancshares Corporation among the top publicly traded bank holding companies in the nation[5] - The company expressed confidence in its strong capital position and management strategies for continued success in 2024 and beyond[6]