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International Bancshares (IBOC) FY2025 results: revenue $842 million, up 1.0% on the year

International Bancshares Corp. (IBOC) reported revenue of $842 million for fiscal 2025, the year ended 31 December 2025, up 1.0% on the year before. Net income was $412 million, up 0.8%, and diluted earnings per share $6.62. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.

Revenue
$842 million
+1.0% on the year
FY2018FY2025
Operating margin
n/a
FY2018FY2025
Net income
$412 million
+0.8% on the year
FY2018FY2025
Diluted EPS
$6.62
+0.8% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

  • Full-year net income and EPS rose: Annual net income for 2025 was about $412.3 million, or $6.62 diluted EPS, against $409.2 million, or $6.57, in 2024. The company reported both measures up about 0.8 percent.
  • Fourth-quarter net income fell: Net income for the three months ended December 31, 2025 was about $106.9 million, or $1.71 diluted EPS, compared with $115.1 million, or $1.85, a year earlier.
  • Portfolio size and rates lifted interest income: Management said interest income on investment and loan portfolios rose, driven by larger portfolios and the current rate environment.
  • Net interest income hit by deposit costs: Management said net interest income was negatively affected by higher interest expense, primarily from increases in rates paid on deposits.
  • Deposit rates monitored to retain funds: Management said it continues to monitor and adjust rates paid on deposits to remain competitive in growing and retaining deposits.
Read the Q4 FY2025 earnings call summary

From this 10-K

International Bancshares is a multibank financial holding company based in Laredo, Texas. It owns five banks: four Texas state banking associations, International Bank of Commerce in Laredo, Commerce Bank in Laredo, and International Bank of Commerce in Brownsville and in Zapata, and one Oklahoma state banking corporation, International Bank of Commerce in Oklahoma City.

International Bancshares Corp., the 10-K for 2025

International Bancshares is a multibank financial holding company based in Laredo, Texas. It owns five banks: four Texas state banking associations, International Bank of Commerce in Laredo, Commerce Bank in Laredo, and International Bank of Commerce in Brownsville and in Zapata, and one Oklahoma state banking corporation, International Bank of Commerce in Oklahoma City.

Where it banks

Its banks operate in north, south, central and southeast Texas and in Oklahoma. They have 166 facilities and 247 ATMs serving 75 communities in the two states. Its primary market area in Texas runs from the Galveston area in the east to Dallas in the northwest, Del Rio in the southwest and Brownsville in the southeast. Local advisory boards of community members help direct the branches of each bank under that bank's board of directors.

What the banks do

The banks take checking and savings deposits and make commercial, real estate, personal, home improvement, automobile and other installment and term loans. They have historically focused on commercial banking for small and medium-sized businesses in their trade areas, and in recent years have put more weight on consumer and retail banking, including mortgage lending, with branches in retail locations and shopping malls. They also offer credit cards, safety deposit boxes, collections and escrow services, securities products through third-party providers, and online and mobile banking.

Mexico and the border

Some of the banks are highly active in financing international trade along the United States border with Mexico. The international business includes letters of credit, commercial and industrial loans and foreign-exchange services. The company does a large amount of business for customers domiciled in Mexico, mainly Northern Mexico, and deposits from people and entities domiciled there make up a large portion of its banks' deposit base.

Other holdings

It also owns six non-banking subsidiaries, among them an inactive export trading company, a charitable and community development corporation, and merchant banking entities. It holds fifty-percent interests in Gulfstar Group I and Gulfstar Group II, which are involved in investment banking, a controlling interest in five merchant banking entities, and a majority interest in a real-estate development partnership.

People

At December 31, 2025, the company and its banks employed approximately 2,126 people full time and 193 part time. Approximately 66% of its officer management team of about 300 had been with it for more than 15 years. None of its employees are represented by a collective bargaining unit.

From International Bancshares' annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 26 February 2026: read the full 10-K.

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue842834833+1.0%
Interest expensen/an/a137
Pre-tax income520509524+2.3%
Income tax10899.6112+8.6%
Effective tax rate20.8%19.6%21.3%
Net income412409412+0.8%
Net margin49.0%49.1%49.4%
Diluted EPS$6.62$6.57$6.62+0.8%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow491474474+3.6%
Capital expenditure18.114.127.5+28.1%
Free cash flow473460447+2.9%
Cash from investing-592-985-1,067
Cash from financing284213-844+33.7%
Share-based compensation0.10.20.3-51.4%
Buybacks4.61.04.6+378.5%
Dividends paid87.182.178.2+6.1%
Dividend per share$1.40$1.32$1.26+6.1%
Diluted shares, weighted62m62m62m-0.1%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity3,2522,7972,448+16.3%
Deposits12,43712,11211,825+2.7%
Debt705655650+7.6%
Other liabilities183176144+4.5%
Total liabilities and equity16,57615,73915,066+5.3%
Fixed assets423428437-1.2%
Goodwill2832832830.0%
Investments4,9764,9984,831-0.4%
Loans9,3018,6537,902+7.5%
Cash and equivalents536353651+52.1%
Other assets1,0571,024962+3.2%
Total assets16,57615,73915,066+5.3%

10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.