SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15 (D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 3, 1996
INTERNATIONAL BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Commission File Number 0-9439
TEXAS 74-2157138
(State or other Jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1200 SAN BERNARDO, LAREDO, TEXAS 78040-1359
(Address of principal executive offices) (ZIP Code)
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) (210) 722-7611
NONE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On October 3, 1996, International Bancshares Corporation ("IBC") issued a
news release announcing that had entered into a definitive agreement relating to
the acquisition by International Bank of Commerce, Laredo, Texas, IBC's lead
bank subsidiary, of five branches of Bank of America, Texas located in Angleton,
Freeport, Texas City, Lake Jackson and Rosenberg, Texas. The news release,
attached hereto and filed herewith as Exhibit 99, is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c. Exhibits
The following exhibit is filed as part of this report:
(99) News release of International Bancshares Corporation dated
October 3, 1996.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
INTERNATIONAL BANCSHARES CORPORATION
(Registrant)
By: /s/ DENNIS E. NIXON
DENNIS E. NIXON, President,
and Chief Executive Officer
Date: October 9, 1996
3
<PAGE>
EXHIBIT INDEX
Exhibit Page
Number Description Number
------- ----------- ------
99 News Release of International 5
Bancshares Corporation dated
October 3, 1996
4
EXHIBIT 99
FOR IMMEDIATE RELEASE Contact: Dennis E. Nixon
(210) 722-7611
Bill West
210-805-0320
INTERNATIONAL BANK OF COMMERCE (IBC) TO
ACQUIRE FIVE BANK OF AMERICA, TEXAS, BRANCHES
LAREDO, TX., October 3, 1996--Bank of America and International Bank of Commerce
(IBC) announced they have signed a definitive agreement under which IBC will
acquire Bank of America, Texas, branches in Angleton, Freeport, Texas City, Lake
Jackson and Rosenberg.
Completion of the transaction is subject to approval of applicable regulatory
authorities and is expected to be completed in early 1997. Bank of America
announced its intention to sell 68 branches in June. The IBC acquisition is the
final announcement regarding agreements to sell those branches.
"We look forward to offering IBC's "doing more" brand of service to Bank of
America's customers throughout the Coastal Bend," said Dennis E. Nixon, Chairman
and Chief Executive Officer of IBC. "We are dedicated to making the transition a
smooth one for customers, as we continue to focus on our commitment to each
community we serve. Our new branches will provided additional strength to IBC's
Coastal Bend branch system, extending a chain of branches that now runs from
Brownsville to Corpus Christi, and through Port Lavaca and Bay City."
The acquisition will bring IBC's network of banks to over 50 branches throughout
South Texas and the Coastal Bend. The new branches will come under the
supervision of IBC's Northern Coastal Bend management team lead by Richard A.
Bothe.
Bank of America is a subsidiary of BankAmerica Corporation, which has more than
1,900 branches in ten western states. As of June 30, 1996, BankAmerica had
assets of approximately $241 billion and deposits of approximately $162.3
billion.
International Bank of Commerce is the lead bank of International Bancshares
Corporation, a $3.1 billion multibank holding company with 50 branches in 18
Texas communities.
