International Bank of Commerce, Zapata

908 N. US Highway 83

Zapata, TX 78076

(956) 765-8361

Roma

Rio Grande City

4031 E. Hwy 83

Kingsville

Beeville

1702 E. Grant St.

4015 E. Hwy. 83

(956) 487-5532

1320 General Cavazos Blvd

802 E. Houston St.

(956) 849-1047

(956) 487-5531

Hebbronville

(361) 516-1040

(361) 358-8700

Alice

4534 E. Hwy. 83

401 N. Smith Ave.

2001 E. Main St.

(956) 487-5531

(361) 527-2645

(361) 661-1211

International Bank of Commerce, Brownsville

1600 Ruben Torres Blvd

Brownsville, TX 78526-1831

(956) 547-1000

Brownsville

3600 N.10th. St.

Port Isabel

Harlingen

Pharr

1623 Central Blvd.

(956) 688-3690

1401 W. Hwy. 100

501 S. Dixieland Rd.

401 South Cage

(956)

547-1000

2200 S. 10th St. (La Plaza East)

(956) 943-2108

(956) 428-6902

(956) 688-3635

4520A

E. 14th St.

(956) 688-3670

Alamo

321 S. 77th Sunshine Strip

1007 North I Rd.

(956)

547-1300

802 S. Jackson Road

1421 West Frontage Rd.

(956) 428-6454

(956) 688-3655

(956) 688-3645

Weslaco

79 E. Alton Gloor Blvd

(956) 630-9347

1801 W. Lincoln

Alton

(956)

547-1000

2200 S. 10th St. (La Plaza West)

(956) 428-4559

606 S. Texas Blvd.

215 West Martin Ave.

Mission

(956) 688-3605

2370 N. Expressway

(956) 688-3660

(956) 630-9319

(956)

547-1000

2225 Nolana

900 N. Bryan Rd.

1310 N. Texas

Edinburg

(956) 688-3630

(956) 968-5551

630 E. Elizabeth St.

(956) 688-3600

400 S. Closner

Hidalgo

(956) 547-100

1200 E. Jackson

200 E. Griffin Pkwy

(956) 688-3640

(956) 632-3512

1023 S. Bridge

3600 W. Alton Gloor Blvd.

(956) 688-3685

4101 S. McColl

(956) 688-3665

(956)

547-1000

2800 Nolana

2410 E. Expressway 83

(956) 630-9337

San Juan

McAllen

(956) 688-3625

(956) 688-3620

1724 W. University Dr. Ste. B

121 S. Shary Rd.

108 E. FM 495

One S. Broadway

2900 West Expressway 83

(956) 688-3680

(956) 630-9320

(956)

686-0263

(956) 630-9365

(956) 630-9350

2205 W. University Dr.

Palmhurst

7124 N. 23rd.

South Padre Island

(956) 630-9340

215 E. Mile 3 Rd.

(956)

630-9310

911 Padre Blvd.

Penitas

(956) 688-3675

301 S. 10th St.

(956) 761-6156

1705 Expressway 83

(956)

688-3610

(956) 688-8636

International Bank of Commerce, Oklahoma

3817 NW Expressway, Suite 100

Oklahoma City, Ok

(405) 775-8051

Ardmore

2302 12th Ave.

(580) 223-0345

Broken Arrow6412 S. Elm Pl. (918) 497-2488

8112 Garnett Rd.

(918) 497-2840

Chickasha

628 W. Grand Ave.

(405) 841-2282

Claremore

1050 N. Lynn Riggs Blvd.

(918) 497-2464

Edmond

1812 E 15th St.

(405) 775-8061

421 S. Santa Fe Ave.

(405) 841-2130

Duncan

3903 N. Hwy 81

(580) 255-9055

Tulsa

1951 S. Yale Ave.

(918) 497-2452

4202 S. Garnett

(918) 497-2883

2250 E. 73rd St

(918) 497-2405

1 E. 5th St.

(918) 497-2462

8202 E. 71st St

(918) 497-2476

5302 E. Skelly Dr.

(918) 497-2472

Chandler

3108 E. 1st St.

(405) 258-2351

Oklahoma City

100 W. Park Ave.

(405) 841-2288

10500 S. Pennsylvania Ave

(405) 841-2266

2301 N. Portland Ave.

(405) 841-2116

12241 N. May Ave.

Sulphur

Sand Springs

(405) 841-2341

2009 W. Broadway Ave.

3402 State Hwy. 97

4902 N. Western Ave.

(580) 622-3118

(918) 497-2466

Bethany

Stillwater

(405) 841-2286

14001 N. McArthur Blvd

7723 NW 23rd St.

1900 N. Perkins Rd.

(405) 841-2367

(405) 372-0889

(405) 775-1710

Guthrie

Owasso

Lawton

120 N. Division St.

9350 N. Garnett

2101 W. Gore

(405) 841-2304

(918) 497-2833

(520) 250-4322

Moore

Norman

6425 NW Cache Rd.

901 SW 19th

1461 24th Ave.

(520) 250-4322

(405) 775-1720

(405) 841-4744

Miami

Pauls Valley

Lindsay

2520 N. Main

700 W. Grant Ave.

209 E. Cherokee

(918) 542-4411

(405) 238-7318

(405) 756-4494

Midwest City

Purcell

Bixby

2200 S. Douglas Blvd.

430 W. Lincoln St.

11886 S. Memorial

(405) 775-8057

(405) 775-8094

(918) 497-2855

Sapulpa

Dallas

911 E. Taft St.

3800 Maple Ave. Ste. 100

(918) 497-2465

(469) 357-3805

Shawnee

2513 N. Harrison Ave.

(405) 775-8067

As used in this report, the words "Company," "we," "us," and "our" refer to International Bancshares Corporation, a Texas corporation, its five wholly owned subsidiary banks ("Subsidiary Banks"), and other subsidiaries. The information that follows may contain forward-looking statements, which are qualified as indicated under "Cautionary Notice Regarding Forward-Looking Statements" in Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operations) of this report. Our website address is www.ibc.com.

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

(Consolidated)

The following consolidated selected financial data is derived from our audited financial statements as of and for the five years ended December 31, 2022. The following consolidated financial data should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and related notes in this report.

SELECTED FINANCIAL DATA

AS OF OR FOR THE YEARS ENDED DECEMBER 31,

2022

2021

2020

2019

2018

STATEMENT OF CONDITION

(Dollars in Thousands, Except Per

Share Amounts)

Assets

$

15,501,476

$

16,046,236

$

14,029,467

$

12,112,894

$

11,871,952

Investment securities available-

for-sale

4,417,796

4,213,920

3,080,768

3,378,923

3,411,350

Net loans

7,304,631

7,098,777

7,432,695

6,834,668

6,499,905

Deposits

12,660,007

12,617,877

10,721,860

8,826,034

8,696,545

Other borrowed funds

10,944

436,138

436,327

626,511

705,665

Junior subordinated deferrable

134,642

134,642

134,642

134,642

160,416

interest debentures

Shareholders' equity

2,044,759

2,308,481

2,177,998

2,118,053

1,939,582

INCOME STATEMENT

$

525,781

$

398,103

$

427,008

$

492,401

$

465,822

Interest income

Interest expense

38,156

26,831

39,119

58,629

52,668

. . . . . . . . . . . . . .Net interest income

487,625

371,272

387,889

433,772

413,154

Provision for probable loan losses . .

21,651

7,955

45,379

18,843

6,112

Non-interest income

187,134

222,326

150,579

154,826

165,042

Non-interest expense

270,469

263,316

281,331

309,801

299,501

. . . . . . .Income before income taxes

382,639

322,327

211,758

259,954

272,583

Income taxes

82,407

68,405

44,439

54,850

56,652

. . . . . . . . . . . . . . . . . . . . .Net income

300,232

253,922

167,319

205,104

215,931

Net income available to common

shareholders

$

300,232

$

253,922

$

167,319

$

205,104

$

215,931

Per common share:

Basic

$

4.79

$

4.01

$

2.63

$

3.13

$

3.27

Diluted

$

4.78

$

4.00

$

2.62

$

3.12

$

3.24

1

MANAGEMENT'S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Management's discussion and analysis represents an explanation of significant changes in our financial position and results of our operations on a consolidated basis for the three-year period ended December 31, 2022. The following discussion should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2022, and the Selected Financial Data and Consolidated Financial Statements included elsewhere herein.

Special Cautionary Notice Regarding Forward Looking Information

Certain matters discussed in this report, excluding historical information, include forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created by these sections. Although we believe such forward-looking statements are based on reasonable assumptions, no assurance can be given that every objective will be reached. The words "estimate," "expect," "intend," "believe" and "project," as well as other words or expressions of a similar meaning, are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this report. Such statements are based on current expectations, are inherently uncertain, are subject to risks and should be viewed with caution. Actual results and experience may differ materially from the forward-looking statements as a result of many factors.

Risk factors that could cause actual results to differ materially from any results that we project, forecast, estimate or budget in forward-looking statements include, among others, the following possibilities:

  • Local, regional, national and international economic business conditions and the impact they may have on us, our customers, and such customers' ability to transact profitable business with us, including the ability of our borrowers to repay their loans according to their terms or a change in the value of the related collateral.
  • Volatility and disruption in national and international financial markets.
  • Government intervention in the U.S. financial system.
  • The unavailability of funding from the FHLB, the Fed or other sources in the future could adversely impact our growth strategy, prospects and performance.
  • Changes in consumer spending, borrowing and saving habits.
  • Changes in interest rates and market prices, including, changes in federal regulations on the payment of interest on demand deposits.
  • Changes in the capital markets we utilize, including changes in the interest rate environment that may reduce margins.
  • Changes in state and/or federal laws and regulations, including, the impact of the Consumer Financial Protection Bureau ("CFPB") as a regulator of financial institutions, changes in the accounting, tax and regulatory treatment of trust preferred securities, as well as changes in banking, tax, securities, insurance, employment, environmental and immigration laws and regulations and the risk of litigation that may follow.
  • Changes in U.S.-Mexico trade, including, reductions in border crossings and commerce, integration and implementation of the United States-Mexico-Canada Agreement and the possible imposition of tariffs on imported goods.
  • The reduction of deposits from nonresident alien individuals due to the IRS rules requiring U.S. financial institutions to report deposit interest payments made to such individuals.
  • The loss of senior management or operating personnel.
  • The timing, impact and other uncertainties of the potential future acquisitions, as well as our ability to maintain our current branch network and enter new markets to capitalize on growth opportunities.
  • Changes in estimates of future reserve requirements based upon periodic review thereof under relevant regulatory and accounting requirements.

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International Bancshares Corporation published this content on 03 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2023 21:17:42 UTC.