International Bancshares Corporation (Parent Company Only) Financial Information Statements of Income

12 Months Ended

Dec. 31, 2017

(23) International Bancshares Corporation (Parent Company Only) Financial Information

Statements of Income

(Parent Company Only)

Years ended December 31, 2017, 2016 and 2015

(Dollars in Thousands)


	2017		2016		2015
Income:
Dividends from subsidiaries	$	64,600	$	84,432	$	51,575
Interest income on notes receivable		—		2		7
Interest income on other investments		8,100		8,958		5,738
Other		26		255		3,442
Total income		72,726		93,647		60,762
Expenses:
Interest expense (Debentures)		5,392		4,600		4,099
Other		5,648		3,637		3,037
Total expenses		11,040		8,237		7,136
Income before federal income taxes and equity in undistributed net income of subsidiaries		61,686		85,410		53,626
Income tax expense		(2,076)		311		386
Income before equity in undistributed net income of subsidiaries		63,762		85,099		53,240
Equity in undistributed net income of subsidiaries		93,674		48,833		83,486
Net income	$	157,436	$	133,932	$	136,726