SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 2, 1999
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)
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ITEM 5. OTHER EVENTS
On September 2, 1999, Dennis E. Nixon, Chairman and CEO of International
Bancshares Corporation ("IBC") issued a news release announcing that the company
on August 26, 1999, the Board approved the declaration of a $.50 per share cash
dividend, payable on October 15, 1999 to shareholders of record on September 30,
1999.
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, 1999.
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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 2, 1999
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<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
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99 News Release of International 5
Bancshares Corporation dated
September 2, 1999
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EXHIBIT 99
FOR IMMEDIATE RELEASE
CONTACT: Dennis E. Nixon Katie Brickman
Chairman & CEO Taylor West Advertising
International Bancshares Corporation (210) 826-8899 (San Antonio)
956/722-7611
INTERNATIONAL BANCSHARES CORPORATION ANNOUNCES
CASH DIVIDEND
LAREDO, TX.... September 2, 1999....Dennis E. Nixon, Chairman and CEO of
International Bancshares Corporation, today announced that on August 26, 1999,
the Board approved a cash dividend of $.50 per share payable on October 15,
1999, to shareholders of record on September 30, 1999.
"This 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 15, 1999, IBC paid a cash dividend of $.60 per share and on June 12,
1999, IBC paid a twenty-five percent (25%) stock split-up effected through a
stock dividend, resulting in an adjusted dividend rate of $.48 per share. The
current dividend represents approximately a 5% increase over the dividend paid
on April 15, 1999.
Net income and earnings per share for the first six months of 1999 were $31.9
million or $2.14 per share-basic ($2.10 per share-diluted) compared to $26.4
million or $1.78 per share basic ($1.72 per share-diluted) in the corresponding
1998 period, representing a 21% increase. "This year's performance reflects the
commitment IBC has to superior earnings" he said. Total assets at June 30, 1999
were $5.1 billion compared to $4.6 billion at June 30, 1998. Deposits at June
30, 1999 were $3.5 billion compared to $3.3 billion at June 30, 1998.
IBC (NASDAQ: IBOC) is a $5.1 billion multi-bank holding company headquartered in
Laredo, Texas, with over 90 facilities and 164 ATM's serving 28 communities
including Houston, San Antonio, Corpus Christi, McAllen, Brownsville, Port
Lavaca, Zapata, and throughout the Rio Grande Valley and the Texas Gulf Coast.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
contain forward looking information with respect to plans, projections or future
performance of IBC and its subsidiaries, the occurrence of which involve certain
risks and uncertainties detailed in IBC's filings with the Securities and
Exchange Commission.
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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