International Bancshares Corporation (IBC) reported a solid financial performance for the second quarter of 2025, with net income reaching $100.1 million, a 3.3% increase from $97.0 million in the same period last year. For the first half of 2025, net income totaled $197.0 million, up 1.4% from $194.3 million in the first half of 2024. The company's earnings per share also saw a rise, with basic earnings per share at $1.61 for the second quarter, compared to $1.56 in the prior year, and $3.17 for the first half, up from $3.13.
Total assets increased by 4.6% to $16.46 billion as of June 30, 2025, compared to $15.74 billion at the end of 2024. The growth in assets was primarily driven by a 3.8% increase in net loans, which rose to $8.98 billion from $8.65 billion. Deposits also grew by 3.0%, reaching $12.47 billion, reflecting increased customer activity and competitive deposit pricing strategies. The allowance for credit losses decreased slightly to $155.0 million, representing 1.70% of total loans, down from 1.78% at the end of 2024.
In terms of operational developments, IBC maintained a strong focus on managing its interest rate risk amid a fluctuating economic environment. The company reported a net interest income of $167.5 million for the second quarter, a 2.0% increase from the previous year, despite rising interest expenses. Non-interest income, however, declined by 6.6% to $40.7 million, primarily due to losses in merchant banking investments. The company continues to monitor its efficiency ratio and overhead burden ratio to ensure cost control and profitability.
Strategically, IBC has extended its stock repurchase program, authorizing the repurchase of up to $150 million of common stock during the 12-month period starting March 15, 2025. As of August 4, 2025, the company had repurchased a total of 13.8 million shares at a cost of approximately $420 million. This move is part of IBC's ongoing efforts to enhance shareholder value while managing its capital structure effectively.
Looking ahead, IBC remains cautious about the economic landscape, particularly regarding interest rates and market conditions. The company is committed to maintaining its capital adequacy ratios, which currently exceed regulatory requirements, and will continue to adapt its strategies to navigate potential challenges in the financial environment.
About INTERNATIONAL BANCSHARES CORP
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