SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
_____________________________________
PURSUANT TO SECTION 13 OR 15 (D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 16, 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)
<PAGE>
ITEM 5. OTHER EVENTS
On July 16, 1999, International Bancshares Corporation ("IBC") issued a
news release announcing that its board of directors authorized IBC to expand its
stock repurchase program. IBC is now authorized to repurchase up to $22.5
million of its common stock through June 2000, compared to the prior
authorization of $9 million through June 2000. Stock repurchases may be made
from time to time, on the open market through private transactions. Shares
repurchased in this program will be held in treasury for reissue for various
corporate purposes, including employee stock option plans. IBC currently has
approximately $29 million invested in treasury shares, which have accumulated
since the inception of the Company.
IBC is a $5 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.
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 July
16, 1999.
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: July 16, 1999
3
<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
- ------- ------------ --------
99 News Release of International 5
Bancshares Corporation dated
July 16, 1999
4
CONTACT:
Dennis E. Nixon
Chairman & CEO
International Bancshares Corporation
(956) 722-7611
Katie Brickman or
Stephanie Jersig
Taylor West Advertising
(210) 826-8899
FOR IMMEDIATE RELEASE:
INTERNATIONAL BANCSHARES CORPORATION EXPANDS STOCK REPURCHASE PROGRAM
Laredo, Texas-- (BUSINESS WIRE) -- (July 16, 1999)--International Bancshares
Corporation (NASDAQ:IBOC) announced that its board of directors expanded its
stock repurchase program. The Company is now authorized to repurchase up to
$22.5 million of its common stock through June 2000, compared to the prior
authorization of $9 million through June 2000. Stock repurchases may be made
from time to time, on the open market or through private transactions. Shares
repurchased in this program will be held in treasury for reissue for various
corporate purposes, including employee stock option plans. The Company currently
has approximately $29 million invested in treasury shares, which have been
accumulated since the inception of the Company.
IBC is a $5 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.
5
