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 12, 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 August 6, 1999, International Bancshares Corporation issued a news
release announcing Second Quarter 1999 Earnings, attached hereto and filed
herewith as Exhibit 99 and 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 6, 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: August 12, 1999
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<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
------ ----------- ------
99 News Release of International 5
Bancshares Corporation dated
August 6, 1999
4
EXHIBIT 99
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 REPORTS SECOND QUARTER 1999 EARNINGS
LAREDO, Texas--(BUSINESS WIRE)--August 6, 1999--International Bancshares
Corporation (NASDAQ:IBOC) today reported earnings for the second quarter of 1999
of $16.0 million or $1.02 per share - basic ($1.00 per share - diluted) compared
to $12.8 million or $.82 per share - basic ($.79 per share diluted) in the
corresponding 1998 period. Earnings 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.
Dennis E. Nixon, CEO and chairman of the board, stated that the Company's
second quarter earnings represent a 25% increase over the corresponding 1998
period. "I'm extremely pleased with the results for the second quarter,
especially coming on the heels of a 17% increase in earnings for the first
quarter," he said. "The Company's year to date 1999 performance is 21% ahead of
1998, reflecting very favorably on IBC's commitment to superior earnings. These
earnings results translate into a 27% increase in diluted earnings per share for
the second quarter, and a 22% increase for the first six months, truly
demonstrating that IBC is 'doing more' for each shareholder."
Cash earnings, which exclude the amortization of core deposit intangibles
and goodwill, increased 24% to $16.9 million or $1.08 per share - basic ($1.05
per share - diluted) for the second quarter of 1999 compared to $13.7 million or
$.87 - per share - basic ($.85 per share - diluted) in the corresponding 1998
period.
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 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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