We closely monitor rates paid on deposits by competitors and have adjusted pricing accordingly to remain competitive in an effort to retain certain deposits, but we have allowed certain deposits to run off if the pricing we offer is not acceptable to the customer. Our net interest margin has been positively impacted by the increases in interest rates on earning assets while confronting rising interest expense from increasing deposit rates. “Economic conditions impacting the global economy remain highly volatile and uncertain. We also continue to monitor economic conditions, including a possible recession, impacting our loan portfolio and have factored those forecasts into our allowance for credit loss calculation to endeavor capturing the risk of potential losses in our portfolio arising from those uncertain economic conditions. ![]() The increase in those revenue streams coupled with the cost control initiatives to streamline operations and increase efficiency in recent years have been the primary drivers in achieving these results. Net income for the first quarter of 2023 was positively impacted by an increase in net interest income and is primarily attributable to an increase in the size of our investment portfolio, the interest earned on funds held at the Federal Reserve Bank, and an increase in loan interest income, of which the latter two have increased consistent with recent Federal Reserve Board actions to raise interest rates in 20. 84 per share basic), which represents an increase of 94 percent in diluted earnings per share and a 90 percent increase in net income over the corresponding period in 2022. ![]() 84 diluted earnings per common share ( $. International Bancshares Corporation (NASDAQ:IBOC), one of the largest independent bank holding companies in Texas, today reported net income for the three months ended Maof $101.6 million or $1.63 diluted earnings per common share ( $ 1.64 per share basic) compared to $53.5 million or $.
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