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

12 Months Ended

Dec. 31, 2021

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

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

Statements of Cash Flows

(Parent Company Only)

Years ended December 31, 2021, 2020 and 2019

(Dollars in Thousands)

	2021		2020		2019
Operating activities:
Net income	$	253,922	$	167,319	$	205,104
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit loss		—		27		—
Unrealized (gain) loss on equity securities with readily determinable fair values		(51)		22		(16)
Stock compensation expense		506		743		980
(Decrease) increase in other liabilities		(8,084)		2,467		(58)
Equity in undistributed net income of subsidiaries		(168,603)		(41,641)		(84,234)
Net cash provided by operating activities		77,690		128,937		121,776
Investing activities:
Net decrease (increase) in notes receivable		1,549		—		(12,100)
(Decrease) increase in other assets and other investments		(11,787)		31,289		5,915
Net cash (used in) provided by investing activities		(10,238)		31,289		(6,185)
Financing activities:
Redemption of long-term debt		—		—		(25,774)
Proceeds from stock transactions		2,414		542		1,923
Payments of cash dividends - common		(72,838)		(69,928)		(68,670)
Purchase of treasury stock		(716)		(48,878)		(17,845)
Net cash used in financing activities		(71,140)		(118,264)		(110,366)
(Decrease) increase in cash		(3,688)		41,962		5,225
Cash at beginning of year		66,252		24,290		19,065
Cash at end of year	$	62,564	$	66,252	$	24,290