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IBC Reports Earnings

International Bancshares Corporation (NASDAQ: IBOC), one of the largest independent bank holding companies in Texas, today reported net income of $82.1 million for the nine months ended September 30, 2012, compared to $96.8 million for the same period of 2011, prior to amounts related to participation in the TARP program, including preferred stock dividends and amounts related to the Warrant. After the TARP program amounts, net income for the nine months ended September 30, 2012 applicable to common shareholders was $71.6 million, or $1.06 diluted and basic earnings per common share, compared to $86.8 million or $1.28 diluted and basic earnings per common share for the same period of 2011, representing a decrease of 17.2 percent in diluted earnings per common share. Net income for the three months ended September 30, 2012 was $25.9 million, a decrease of 15.4 percent compared to net income of $30.6 million for the same period of 2011, prior to amounts related to participation in the TARP program, including preferred stock dividends and amounts related to the Warrant. After these amounts, net income for the third quarter of 2012 applicable to common shareholders was $22.0 million, or $.33 diluted earnings per common share and $.33 basic earnings per common share, compared to $27.3 million or $.40 diluted earnings per common share and $.41 basic earnings per common share for the same period in 2011, representing a decrease of 17.5 percent in diluted earnings per common share and a decrease of 19.4 percent in net income.

Net income available to common shareholders for the nine months ended September 30, 2012 decreased by 17.5 percent when compared to the same period in 2011. Net income available to common shareholders for the third quarter of 2012 decreased by 19.4 percent compared to the same period in 2011. Net income during the first nine months of 2011 was positively affected by a lower provision for probable loan losses of approximately $7.8 million, $5.0 million after tax compared to $16.7 million, $10.9 million after tax in 2012. Net income for the first nine months of 2012 was negatively impacted by narrowing interest margins caused by slow loan demand and declining yields in the bond markets coupled with lower levels of revenues on interchange fee income and overdraft programs due to regulatory changes, as well as the burden of increasing compliance costs arising from the Dodd-Frank Act and heightened regulatory oversight.

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