10-Q 1 iboc-20220930x10q.htm 10-Q
0000315709--12-312022Q3false0000315709us-gaap:TreasuryStockCommonMember2022-07-012022-09-300000315709us-gaap:TreasuryStockCommonMember2022-01-012022-09-300000315709us-gaap:TreasuryStockCommonMember2021-07-012021-09-300000315709us-gaap:TreasuryStockCommonMember2021-01-012021-09-3000003157092022-02-232022-02-2300003157092009-04-012009-04-3000003157092022-02-2300003157092009-04-3000003157092022-10-312022-10-310000315709us-gaap:CommonStockMember2022-07-012022-09-300000315709us-gaap:CommonStockMember2022-01-012022-09-300000315709us-gaap:CommonStockMember2021-07-012021-09-300000315709us-gaap:CommonStockMember2021-01-012021-09-300000315709us-gaap:TreasuryStockCommonMember2022-09-300000315709us-gaap:RetainedEarningsMember2022-09-300000315709us-gaap:AdditionalPaidInCapitalMember2022-09-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300000315709us-gaap:TreasuryStockCommonMember2022-06-300000315709us-gaap:RetainedEarningsMember2022-06-300000315709us-gaap:AdditionalPaidInCapitalMember2022-06-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000315709us-gaap:TreasuryStockCommonMember2021-12-310000315709us-gaap:RetainedEarningsMember2021-12-310000315709us-gaap:AdditionalPaidInCapitalMember2021-12-310000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000315709us-gaap:TreasuryStockCommonMember2021-09-300000315709us-gaap:RetainedEarningsMember2021-09-300000315709us-gaap:AdditionalPaidInCapitalMember2021-09-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300000315709us-gaap:TreasuryStockCommonMember2021-06-300000315709us-gaap:RetainedEarningsMember2021-06-300000315709us-gaap:AdditionalPaidInCapitalMember2021-06-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000315709us-gaap:TreasuryStockCommonMember2020-12-310000315709us-gaap:RetainedEarningsMember2020-12-310000315709us-gaap:AdditionalPaidInCapitalMember2020-12-310000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000315709us-gaap:CommonStockMember2022-09-300000315709us-gaap:CommonStockMember2022-06-300000315709us-gaap:CommonStockMember2021-12-310000315709us-gaap:CommonStockMember2021-09-300000315709us-gaap:CommonStockMember2021-06-300000315709us-gaap:CommonStockMember2020-12-310000315709us-gaap:EmployeeStockOptionMemberiboc:StockOptionPlan2012Member2021-12-310000315709us-gaap:StockAppreciationRightsSARSMemberiboc:StockAppreciationRightsPlan2022Member2022-04-180000315709us-gaap:EmployeeStockOptionMemberiboc:StockOptionPlan2012Member2012-04-050000315709iboc:IncentiveStockOptionsTo10PercentShareholdersMemberiboc:StockOptionPlan2012Member2022-01-012022-09-300000315709us-gaap:StockAppreciationRightsSARSMemberiboc:StockAppreciationRightsPlan2022Member2022-07-012022-09-300000315709us-gaap:StockAppreciationRightsSARSMemberiboc:StockAppreciationRightsPlan2022Member2022-04-182022-04-180000315709iboc:ServiceChargesOnDepositAccountsMember2022-07-012022-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesNonbankingMember2022-07-012022-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesBankingMember2022-07-012022-09-300000315709iboc:ServiceChargesOnDepositAccountsMember2022-01-012022-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesNonbankingMember2022-01-012022-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesBankingMember2022-01-012022-09-300000315709iboc:ServiceChargesOnDepositAccountsMember2021-07-012021-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesNonbankingMember2021-07-012021-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesBankingMember2021-07-012021-09-300000315709iboc:ServiceChargesOnDepositAccountsMember2021-01-012021-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesNonbankingMember2021-01-012021-09-300000315709iboc:OtherServiceChargesCommissionsAndFeesBankingMember2021-01-012021-09-300000315709us-gaap:OtherLiabilitiesMember2022-09-300000315709us-gaap:OtherLiabilitiesMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-07-012022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2022-07-012022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-01-012022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2022-01-012022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-07-012021-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2021-07-012021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-01-012021-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2021-01-012021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionForeignMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionForeignMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionForeignMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionForeignMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionForeignMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMember2022-09-300000315709us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000315709us-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000315709us-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300000315709us-gaap:FinancialAssetPastDueMember2022-09-300000315709us-gaap:FinancialAssetNotPastDueMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000315709iboc:ForeignPortfolioSegmentMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:GeographicDistributionForeignMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:GeographicDistributionForeignMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:GeographicDistributionForeignMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:GeographicDistributionForeignMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:GeographicDistributionForeignMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMember2021-12-310000315709us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000315709us-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000315709us-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000315709us-gaap:FinancialAssetPastDueMember2021-12-310000315709us-gaap:FinancialAssetNotPastDueMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000315709iboc:ForeignPortfolioSegmentMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMember2021-12-310000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000315709iboc:TrustTwelveMember2022-09-300000315709iboc:TrustTenMember2022-09-300000315709iboc:TrustNineMember2022-09-300000315709iboc:TrustElevenMember2022-09-300000315709iboc:TrustEightMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberiboc:SpecialPassMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SpecialMentionMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SpecialMentionMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SpecialMentionMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberiboc:SpecialPassMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SpecialMentionMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberiboc:SpecialPassMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SpecialMentionMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMemberus-gaap:PassMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMemberus-gaap:SeniorLienMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SpecialMentionMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2021-07-012021-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2021-01-012021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-07-012022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-07-012022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2022-07-012022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2022-07-012022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-07-012022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2022-07-012022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-01-012022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-01-012022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2022-01-012022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2022-01-012022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-01-012022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2022-01-012022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-07-012021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-07-012021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2021-07-012021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-07-012021-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2021-07-012021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-01-012021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-01-012021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2021-01-012021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-01-012021-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2021-01-012021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-06-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-06-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2022-06-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2022-06-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-06-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-06-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2022-06-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2022-06-3000003157092022-06-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2021-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-06-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-06-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2021-06-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2021-06-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-06-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-06-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2021-06-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2021-06-3000003157092021-06-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2020-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2020-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2020-12-310000315709us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000315709us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000315709us-gaap:EmployeeStockOptionMemberiboc:StockOptionPlan2012Member2022-01-012022-09-300000315709us-gaap:EmployeeStockOptionMemberiboc:StockOptionPlan2012Member2022-09-300000315709us-gaap:RetainedEarningsMember2022-07-012022-09-300000315709us-gaap:RetainedEarningsMember2022-01-012022-09-300000315709us-gaap:RetainedEarningsMember2021-07-012021-09-300000315709us-gaap:RetainedEarningsMember2021-01-012021-09-300000315709us-gaap:FairValueInputsLevel3Member2022-09-300000315709us-gaap:FairValueInputsLevel3Member2021-12-310000315709us-gaap:OtherDebtSecuritiesMember2022-09-300000315709us-gaap:OtherDebtSecuritiesMember2021-12-310000315709iboc:TrustTwelveMember2022-01-012022-09-300000315709iboc:TrustTenMember2022-01-012022-09-300000315709iboc:TrustNineMember2022-01-012022-09-300000315709iboc:TrustElevenMember2022-01-012022-09-300000315709iboc:TrustEightMember2022-01-012022-09-3000003157092022-02-282022-02-2800003157092021-09-032021-09-0300003157092021-02-172021-02-1700003157092021-09-3000003157092020-12-310000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-09-300000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-09-300000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:MortgageBackedSecuritiesMember2022-09-300000315709us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-09-300000315709us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-09-300000315709us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:MortgageBackedSecuritiesMember2022-09-300000315709us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-09-300000315709us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-09-300000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000315709us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310000315709us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000315709us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310000315709us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2021-12-310000315709us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000315709us-gaap:CollateralPledgedMember2022-09-300000315709us-gaap:USTreasurySecuritiesMember2022-09-300000315709us-gaap:USStatesAndPoliticalSubdivisionsMember2022-09-300000315709us-gaap:MortgageBackedSecuritiesMember2022-09-300000315709us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000315709us-gaap:MortgageBackedSecuritiesMember2021-12-310000315709us-gaap:OtherLongTermInvestmentsMember2022-09-300000315709us-gaap:OtherLongTermInvestmentsMember2021-12-310000315709us-gaap:EmployeeStockOptionMember2022-07-012022-09-300000315709us-gaap:EmployeeStockOptionMember2022-01-012022-09-300000315709us-gaap:EmployeeStockOptionMember2021-07-012021-09-300000315709us-gaap:EmployeeStockOptionMember2021-01-012021-09-300000315709us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300000315709us-gaap:AdditionalPaidInCapitalMember2022-01-012022-09-300000315709us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300000315709us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-3000003157092021-07-012021-09-300000315709us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000315709us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-09-300000315709us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMemberiboc:SpecialPassMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SubstandardMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:DoubtfulMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMemberiboc:SpecialPassMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:PassMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMemberus-gaap:PassMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2022-09-300000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2022-09-300000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2022-09-300000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:SeniorLienMember2021-12-310000315709us-gaap:ResidentialPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:JuniorLienMember2021-12-310000315709us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialLoanMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateMultifamilyReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:CommercialFinancialAndAgriculturalRealEstatePortfolioSegmentMemberiboc:CommercialRealEstateFarmlandAndCommercialReceivableMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709us-gaap:ConsumerPortfolioSegmentMemberus-gaap:GeographicDistributionDomesticMember2021-12-310000315709iboc:ForeignPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2021-12-310000315709us-gaap:FairValueInputsLevel2Member2022-09-300000315709us-gaap:FairValueInputsLevel2Member2021-12-310000315709us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000315709us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000315709us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000315709us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000315709us-gaap:FairValueMeasurementsNonrecurringMember2022-09-300000315709us-gaap:FairValueMeasurementsNonrecurringMember2021-12-3100003157092022-09-3000003157092021-12-310000315709iboc:PaycheckProtectionProgramLoansMember2022-10-3100003157092022-07-012022-09-3000003157092021-01-012021-12-3100003157092021-01-012021-09-3000003157092022-10-3100003157092022-01-012022-09-30xbrli:sharesiso4217:USDiboc:itemxbrli:pureiboc:subsidiaryiboc:loaniso4217:USDxbrli:sharesiboc:segment

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2022

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to           

Commission file number 000-09439

INTERNATIONAL BANCSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Texas

74-2157138

(State or other jurisdiction of

(I.R.S. Employer Identification No.)

incorporation or organization)

1200 San Bernardo Avenue, Laredo, Texas 78042-1359

(Address of principal executive offices)

(Zip Code)

(956) 722-7611

(Registrant’s telephone number, including area code)

None

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

    

Trading Symbol

    

Name of each exchange on which registered:

Common Stock, $1.00 par value

IBOC

NASDAQ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark if the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company, in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date

Class

Shares Issued and Outstanding

Common Stock, $1.00 par value

62,113,806 shares outstanding at October 31, 2022

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

Consolidated Statements of Condition (Unaudited)

(Dollars in Thousands)

September 30,

December 31,

    

2022

    

2021

 

Assets

Cash and cash equivalents

$

3,243,831

$

3,209,242

Investment securities:

Held to maturity debt securities (Market value of $3,400 on September 30, 2022 and $3,400 on December 31, 2021)

 

3,400

 

3,400

Available for sale debt securities (Amortized cost of $4,796,527 on September 30, 2022 and $4,254,960 on December 31, 2021)

 

4,215,390

 

4,213,920

Equity securities with readily determinable fair values

5,351

6,079

Total investment securities

 

4,224,141

 

4,223,399

Loans

 

7,050,750

 

7,209,151

Less allowance for credit losses

 

(119,195)

 

(110,374)

Net loans

 

6,931,555

 

7,098,777

Bank premises and equipment, net

 

431,952

 

447,082

Accrued interest receivable

 

37,076

 

30,593

Other investments

 

373,483

 

296,882

Cash surrender value of life insurance policies

300,183

297,218

Goodwill

 

282,532

 

282,532

Other assets

 

270,196

 

160,511

Total assets

$

16,094,949

$

16,046,236

1

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

Consolidated Statements of Condition, continued (Unaudited)

(Dollars in Thousands)

September 30,

December 31,

    

2022

    

2021

 

Liabilities and Shareholders’ Equity

Liabilities:

Deposits:

Demand—non-interest bearing

$

6,001,129

$

5,838,526

Savings and interest bearing demand

 

4,749,213

 

4,590,548

Time

 

2,130,173

 

2,188,803

Total deposits

 

12,880,515

 

12,617,877

Securities sold under repurchase agreements

 

507,143

 

439,672

Other borrowed funds

 

435,993

 

436,138

Junior subordinated deferrable interest debentures

 

134,642

 

134,642

Other liabilities

 

182,382

 

109,426

Total liabilities

 

14,140,675

 

13,737,755

Shareholders’ equity:

Common shares of $1.00 par value. Authorized 275,000,000 shares; issued 96,385,002 shares on September 30, 2022 and 96,350,977 shares on December 31, 2021

 

96,385

 

96,351

Surplus

 

153,189

 

152,144

Retained earnings

 

2,590,155

 

2,470,710

Accumulated other comprehensive loss

 

(454,772)

 

(31,980)

 

2,384,957

 

2,687,225

Less cost of shares in treasury, 34,276,371 shares on September 30, 2022 and 32,979,273 on December 31, 2021

 

(430,683)

 

(378,744)

Total shareholders’ equity

 

1,954,274

 

2,308,481

Total liabilities and shareholders’ equity

$

16,094,949

$

16,046,236

See accompanying notes to consolidated financial statements.

2

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

Consolidated Statements of Income (Unaudited)

(Dollars in Thousands, except per share data)

Three Months Ended

Nine Months Ended

    

September 30,

September 30,

2022

    

2021

    

2022

    

2021

Interest income:

Loans, including fees

$

104,818

$

88,280

$

273,936

$

272,210

Investment securities:

Taxable

20,718

11,669

 

50,846

21,558

Tax-exempt

 

625

360

 

1,326

1,132

Other interest income

 

18,926

883

 

24,995

2,145

Total interest income

 

145,087

101,192

 

351,103

297,045

Interest expense:

Savings deposits

 

3,323

1,082

 

5,720

3,001

Time deposits

 

2,530

2,814

 

7,311

8,941

Securities sold under repurchase agreements

 

665

165

 

1,090

448

Other borrowings

 

1,926

1,929

 

5,721

5,726

Junior subordinated deferrable interest debentures

 

1,426

692

 

3,097

2,102

Total interest expense

 

9,870

6,682

 

22,939

20,218

Net interest income

135,217

94,510

 

328,164

276,827

Provision for credit losses

 

8,525

2,801

 

13,741

5,137

Net interest income after provision for credit losses

 

126,692

91,709

 

314,423

271,690

Non-interest income:

Service charges on deposit accounts

 

19,038

17,294

 

54,543

47,971

Other service charges, commissions and fees

Banking

 

15,995

15,750

 

41,446

41,166

Non-banking

 

2,618

2,046

 

6,425

5,831

Investment securities transactions, net

 

(12)

 

(16)

Other investments, net

 

6,962

5,490

 

11,063

68,495

Other income

 

9,989

6,641

 

27,879

17,905

Total non-interest income

$

54,602

$

47,209

$

141,356

$

181,352

3

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

Consolidated Statements of Income, continued (Unaudited)

(Dollars in Thousands, except per share data)

Three Months Ended

Nine Months Ended

    

September 30,

September 30,

2022

    

2021

    

2022

    

2021

Non-interest expense:

Employee compensation and benefits

$

34,341

$

30,552

$

96,505

$

91,262

Occupancy

 

7,821

 

6,491

 

20,282

 

18,638

Depreciation of bank premises and equipment

 

5,425

 

6,028

 

16,355

 

19,263

Professional fees

 

3,087

 

2,558

 

8,347

 

7,675

Deposit insurance assessments

 

2,026

 

1,026

 

5,062

 

2,840

Net operations, other real estate owned

 

(253)

 

438

 

(708)

 

5,351

Advertising

 

1,476

 

1,470

 

4,371

 

4,349

Software and software maintenance

4,089

4,115

12,638

13,081

Other

 

17,161

 

17,049

 

45,195

 

39,407

Total non-interest expense

 

75,173

 

69,727

 

208,047

 

201,866

Income before income taxes

106,121

 

69,191

 

247,732

 

251,176

Provision for income taxes

 

22,765

 

14,592

 

52,912

 

53,780

Net income

$

83,356

$

54,599

$

194,820

$

197,396

Basic earnings per common share:

Weighted average number of shares outstanding

 

62,226,521

 

63,372,777

 

62,838,831

 

63,347,922

Net income per common share

$

1.34

$

0.86

$

3.10

$

3.12

Fully diluted earnings per common share:

 

 

 

 

Weighted average number of shares outstanding

 

62,371,475

 

63,498,542

62,980,934

63,475,393

Net income per common share

$

1.34

$

0.86

$

3.09

$

3.11

See accompanying notes to consolidated financial statements

4

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Unaudited)

(Dollars in Thousands)

Three Months Ended

Nine Months Ended

    

September 30,

September 30,

2022

    

2021

    

2022

    

2021

Net income

$

83,356

$

54,599

$

194,820

$

197,396

Other comprehensive loss, net of tax:

Net unrealized holding losses on securities available for sale arising during period (net of tax effects of $(47,326), $(2,015), $(112,388), and $(2,689))

 

(178,037)

 

(7,578)

 

(422,792)

 

(10,115)

Reclassification adjustment for losses on securities available for sale included in net income (net of tax effects of $0, $3, $0 and $3)

 

 

9

 

 

13

 

(178,037)

 

(7,569)

 

(422,792)

 

(10,102)

Comprehensive (loss) income

$

(94,681)

$

47,030

$

(227,972)

$

187,294

See accompanying notes to consolidated financial statements.

5

INTERNATIONAL BANCSHARES CORPORATION AND SUBSIDIARIES

Consolidated Statements of Shareholders’ Equity

Three and Nine Months ended September 30, 2022 and 2021

(in Thousands, except per share amounts)

   

Number

   

   

   

   

Other

   

   

of

Common

Retained

Comprehensive

Treasury

Shares

Stock

Surplus

Earnings

Income (Loss)

Stock

Total

Balance at June 30, 2022

96,368

$

96,368

$

152,743

$

2,544,148

$

(276,735)

$

(419,293)

$

2,097,231

Net income

83,356

83,356

Dividends:

Payable ($.60 per share)

(37,349)

(37,349)

Purchase of treasury stock (283,270 shares)

(11,390)

(11,390)

Exercise of stock options

17

17

328

345

Stock compensation expense recognized in earnings

118

118

Other comprehensive income, net of tax:

Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments

(178,037)

(178,037)

Balance at September 30, 2022

96,385

$

96,385

$

153,189

$

2,590,155

$

(454,772)

$

(430,683)

$

1,954,274

   

Number

   

   

   

   

Other

   

   

of

Common

Retained

Comprehensive

Treasury

Shares

Stock

Surplus

Earnings

Income (Loss)

Stock

Total

Balance at June 30, 2021

96,332

$

96,332

$

151,512

$

2,397,610

$

18,292

$

(378,076)

$

2,285,670

Net income

54,599

54,599

Dividends:

Payable ($.60 per share)

(38,026)

(38,026)

Purchase of treasury (16,713 shares)

(656)

(656)

Exercise of stock options

11

11

225

236

Stock compensation expense recognized in earnings

118

118

Other comprehensive income, net of tax:

Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments

(7,569)

(7,569)

Balance at September 30, 2021

96,343

$

96,343

$

151,855

$

2,414,183

$

10,723

$

(378,732)

$

2,294,372

6

   

Number

   

   

   

   

Other

   

   

of

Common

Retained

Comprehensive

Treasury

Shares

Stock

Surplus

Earnings

Income (Loss)

Stock

Total

Balance at December 31, 2021

96,351

$

96,351

$

152,144

$

2,470,710

$

(31,980)

$

(378,744)

$

2,308,481

Net income

194,820

194,820

Dividends: