By Ben Glickman
International Bancshares’ profit was slightly higher in the fourth quarter despite net interest income surging in 2023.
The Laredo, Texas-based regional bank reported a profit or $106.4 million, or $1.71 a share, in the quarter ended Dec. 31, compared with a profit of $105.4 million, or $1.68 a share, a year earlier.
For 2023, the company’s net interest income was up about 36% to $663.5 million.
International Bancshares said that the higher net interest income was caused by a larger portfolio and higher interest rates.
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