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): August 19, 1997
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 August 19, 1997, International Bancshares Corporation ("IBC") issued a
news release announcing that IBC had entered into an agreement to acquire
University Bank, Houston, Texas. The transaction is subject to, among other
things, regulatory approval. 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
August 19, 1997.
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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: August 21, 1997
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EXHIBIT INDEX
Exhibit Page
Number Description Number
------- ----------- ------
99 News Release of International 5
Bancshares Corporation dated
August 19, 1997
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EXHIBIT 99
FOR RELEASE AT 2:00 P.M. Contact: Dennis E. Nixon
AUGUST 19, 1997 Chairman and CEO
International Bancshares Corp.
956-722-7611
Bill West
Taylor West Advertising
210-805-0320
INTERNATIONAL BANK OF COMMERCE (IBC) ENTERS
HOUSTON WITH PURCHASE OF UNIVERSITY BANK
LAREDO, TX. - (August 19, 1997) - Dennis E. Nixon, Chairman and CEO of
International Bancshares Corporation announced today that IBC has entered into
an agreement to purchase University Bank in Houston. Completion of the
transaction is subject to regulatory approvals and is expected to be completed
in October, 1997. Upon receipt of regulatory approval, University Bank will be
merged into IBC and its existing locations will be operated as branches of IBC.
With $231 million in assets, University Bank will represent IBC's first cluster
of branches in Houston. Headquartered at 5615 Kirby Drive near downtown Houston,
University Bank has 5 city locations including 1777 Sage Road, 8203 South
Kirkwood, 5706 Kirby Drive, Kelvin at Nottingham, and 1010 Richmond. Earlier
this year, IBC acquired five branches from Bank of America in communities south
of Houston, specifically Rosenberg, Lake Jackson, Angleton, Freeport, and Texas
City.
"The opportunity to move into the Houston market through the acquisition of
University Bank presents a welcome and logical addition to IBC's growing network
of branches along the Gulf Coast," said Dennis E. Nixon. "We feel that IBC's
consistently strong financial performance and its service-oriented approach to
community banking, exemplified by its motto "We Do More," will add real value to
the people of Houston. IBC is a Texas-owned and operated full service community
bank, with a broad range of services, including full retail and business
banking, oil and gas lending, and international services, all focused on serving
every neighborhood where it is located."
Acquisitions have been a key vehicle in IBC's growth to $3.7 billion in assets.
In the past year alone, through growth and acquisition, IBC has added 18
locations to their family of branches, bringing the current total to 68 branches
in 23 communities. Houston will become IBC's regional hub to manage its growing
chain of branches in Harris County.
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Joe L. Allbritton and Robert L. Allbritton, owners of University Bancshares,
Inc. stated, "The addition of International Bancshares Corporation (IBC), a
Texas-owned financial institution, to the Houston banking community is an
extremely positive development, especially for the current and future customers
of University Bank. We are confident that, under IBC's leadership, the bank will
be very successful and an important contributor to the Houston community in the
future."
International Bancshares Corporation is a $3.7 billion multi-bank holding
company headquartered in Laredo, with facilities in Laredo, San Antonio,
McAllen, Brownsville, Zapata, throughout the Rio Grande Valley, Corpus
Christi, and the Upper Gulf Coast.
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