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): September 4, 1998
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) (956) 722-7611
NONE
(Former name or former address, if changed since last report)
<PAGE>
ITEM 5. OTHER EVENTS
On September 2, 1998, Dennis E. Nixon, Chairman and CEO of International
Bancshares Corporation ("IBC") issued a news release announcing that the company
on August 27, 1998, the Board approved the declaration of a $.40 per share cash
dividend, payable on October 15, 1998 to shareholders of record on September 30,
1998.
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
September 2, 1998.
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<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: September 4, 1998
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<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
- ------- ----------- ------
99 News Release of International 5
Bancshares Corporation dated
September 4, 1998
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EXHIBIT 99
FOR IMMEDIATE RELEASE CONTACT:
Dennis E. Nixon
Chairman & CEO
International Bancshares
Corporation
956/722-7611
Katie Brickman
Taylor West Advertising
(210) 826-8899 (San Antonio)
INTERNATIONAL BANCSHARES CORPORATION ANNOUNCES
CASH DIVIDEND
LAREDO, TX.... (September 2, 1998)....Dennis E. Nixon, Chairman and CEO of
International Bancshares Corporation, announced today that on August
27, 1998, the Board
approved the declaration of a $.40 per share cash dividend, payable on
October 15, 1998 to
shareholders of record on September 30, 1998.
"This first ever semiannual cash dividend was made possible because of the
strong performance of IBC," said Dennis E. Nixon, Chairman and CEO of IBC. "It
is the inclination of the Board to continue to declare semiannual cash
dividends, but any declaration of future cash dividends will depend upon IBC's
financial position, acquisition opportunities and general business conditions at
the time."
On April 20, 1998, IBC paid a cash dividend of $.50 per share and on June 12,
1998, IBC paid a twenty-five percent (25%) stock split-up effected through a
stock dividend, resulting
in an adjusted dividend rate of $.40 per share.
Net income for the second quarter of 1998 for IBC was $12.8 million or $1.02 per
share- basic ($.99 per share-diluted) compared to $11.3 million or $.91 per
share basic ($.88 per share-diluted) in the corresponding 1997 period. Total
assets at June 30, 1998 were $4.64 billion compared to $3.73 billion at June 30,
1997 and $4.52 billion as of December 31, 1997. Deposits at June 30, 1998 were
$3.26 billion compared to $2.79 billion at June 30, 1997 and $3.18 billion at
December 31, 1997.
IBC (NASDAQ: IBOC) is a $4.6 billion multi-bank holding company headquartered in
Laredo, Texas, with facilities in San Antonio, Houston, Corpus Christi, McAllen,
Brownsville, Zapata, and throughout the Rio Grande Valley and the Texas gulf
coast.
Copies of IBC's SEC filings and Annual Report (as an exhibit to the 10-K) may be
downloaded from the Internet at no charge from FreeEDGAR, a real-time access to
SEC filings site located at http://www.freeedgar.com.
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