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IBC Bank in Texas, is bringing an environmentally friendly addition to the Austin skyline.
May 1 -
Renato Ramirez, who grew up in Laredo, Texas, and heads a bank there, recently received his community's most prestigious award for his philanthropic efforts.
June 20 -
International Bancshares (IBOC) in Laredo, Texas, has completed the repurchase of its remaining 131,000 shares of preferred stock issued under the Troubled Asset Relief Program.
November 28
International Bancshares (IBOC) in Laredo, Texas, reported a rise in quarterly profit as its net interest income ticked up.
The $12.1 billion-asset company said Thursday that it earned $31.8 million in the third quarter, up 45% from a year earlier when it recorded a large prepayment penalty on certain securities it sold. The company's stock price rose more than 2% after the announcement, to $23.27 a share in trading early Thursday morning.
International Bancshares' net interest income rose 3% from a year earlier, to $78.6 million. It increased its loan-loss provision by 8% from a year earlier, to $5.8 million.
The company earnings were aided by its
International Bancshares' noninterest income fell 40% from a year earlier, to $44.5 million, largely due to a $32.9 million gain on a securities that the company reported in 2012. Service charges on deposit accounts rose 5% from a year earlier, to $25 million, and its other service charges rose by 18%, to $11.3 million.
The company's noninterest expenses fell 6% from a year earlier, to $70.2 million, excluding the $31.6 million prepayment penalty from last year. Compensation costs were flat, at $30.6 million, and the costs for occupancy, professional fees and deposit insurance all fell.
