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

12 Months Ended

Dec. 31, 2017

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

Statements of Cash Flows

(Parent Company Only)

Years ended December 31, 2017, 2016 and 2015

(Dollars in Thousands)


	2017		2016		2015
Operating activities:
Net income	$	157,436	$	133,932	$	136,726
Adjustments to reconcile net income to net cash provided by operating activities:
Investment securities transactions, net		(23)		—		—
Impairment charges on available for sale securities		—		112		385
Stock compensation expense		903		1,082		1,172
(Decrease) increase in other liabilities		(3,453)		3,901		(1,998)
Equity in undistributed net income of subsidiaries		(93,674)		(48,833)		(83,486)
Net cash provided by operating activities		61,189		90,194		52,799
Investing activities:
Principal collected on mortgage-backed securities		6,328		1,105		474
Net decrease in notes receivable		—		99		105
Increase in other assets and other investments		(25,348)		(27,834)		(1,830)
Net cash used in investing activities		(19,020)		(26,630)		(1,251)
Financing activities:
Redemption of long-term debt		—		(1,000)		(14,000)
Proceeds from stock transactions		1,455		549		1,370
Payments of cash dividends - common		(43,594)		(39,569)		(38,515)
Purchase of treasury stock		(187)		(7,966)		(6,678)
Net cash used in financing activities		(42,326)		(47,986)		(57,823)
(Decrease) increase in cash		(157)		15,578		(6,275)
Cash at beginning of year		18,555		2,977		9,252
Cash at end of year	$	18,398	$	18,555	$	2,977