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

12 Months Ended

Dec. 31, 2016

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

Statements of Income

(Parent Company Only)

Years ended December 31, 2016, 2015 and 2014

(Dollars in Thousands)


	2016		2015		2014
Income:
Dividends from subsidiaries	$	84,432	$	51,575	$	71,389
Interest income on notes receivable		2		7		15
Interest income on other investments		8,958		5,738		6,862
Other		255		3,442		1,923
Total income		93,647		60,762		80,189
Expenses:
Interest expense (Debentures)		4,600		4,099		4,264
Other		3,637		3,037		1,099
Total expenses		8,237		7,136		5,363
Income before federal income taxes and equity in undistributed net income of subsidiaries		85,410		53,626		74,826
Income tax expense		311		386		1,370
Income before equity in undistributed net income of subsidiaries		85,099		53,240		73,456
Equity in undistributed net income of subsidiaries		48,833		83,486		79,695
Net income	$	133,932	$	136,726	$	153,151