International Bancshares (IBOC) Q4 2024 earnings summary

Executive summary

• Reported annual net income for 2024 of $409.2 million, or $6.57 diluted EPS, down 0.8% year-over-year.

• Q4 2024 net income was $115.1 million, or $1.85 diluted EPS, up 8.2% from Q4 2023.

• Earnings benefited from higher interest income due to larger investment and loan portfolios and elevated rates.

Financial highlights

• Total assets at year-end 2024 were $15.7 billion, up from $15.1 billion at year-end 2023.

• Net loans grew to $8.7 billion from $7.9 billion year-over-year.

• Deposits increased to $12.1 billion from $11.8 billion year-over-year.

• Net interest income was pressured by higher deposit interest expenses.

Outlook and guidance

• Management remains focused on customer service, balance sheet and liquidity management, and cost controls for 2025.

• Continued execution of established practices and new initiatives expected to support strong results.