Profit at Laredo-based International Bancshares Corp. was up during the first quarter this year, something the South Texas bank attributed to tax reform and its performance.
The parent company of IBC Bank (Nasdaq: IBOC) generated $53 million in net income during the quarter that ended March 31, up from $32 million during the same period in 2017, which is a 67 percent increase year-over-year.
Its provision for probable loan losses, or amount set aside for potential defaults, declined from $1.7 million…
