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): November 5, 1999
INTERNATIONAL BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Commission File Number 0-9439
TEXAS 74-2157138
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(State or other Jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1200 SAN BERNARDO, LAREDO, TEXAS 78040-1359
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(Address of principal executive offices) (ZIP Code)
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) (956) 722-7611
NONE
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On November 5, 1999, International Bancshares Corporation issued a news
release announcing Third 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
November 5, 1999.
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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
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DENNIS E. NIXON, President,
and Chief Executive Officer
Date: November 5, 1999
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EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
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99 News Release of International 5
Bancshares Corporation dated
November 5, 1999
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EXHIBIT 99
Contact:
Dennis E. Nixon
Chairman & CEO
International Bancshares Corporation
(956) 722-7611
Katie Brickman
Taylor West Advertising
(210) 826-8899
FOR IMMEDIATE RELEASE:
INTERNATIONAL BANCSHARES CORPORATION REPORTS THIRD QUARTER 1999 EARNINGS
LAREDO, Texas--(BUSINESS WIRE)--November 5, 1999--International Bancshares
Corporation (NASDAQ:IBOC) today reported earnings for the third quarter of 1999
of $17.9 million or $1.03 per share - basic ($1.01 per share - diluted) compared
to $13.4 million or $.76 per share - basic ($.74 per share diluted) in the
corresponding 1998 period. Earnings for the first nine months of 1999 were $49.8
million or $3.17 per share - basic ($3.11 per share diluted) compared to $39.8
million or $2.52 per share - basic ($2.45 per share diluted) in the
corresponding 1998 period.
Dennis E. Nixon, CEO and chairman of the board, stated that the Company's
third quarter earnings represent a 33% increase over the corresponding 1998
period. "I'm extremely pleased with the results for the third quarter, coming on
the heels of very strong earnings performance in the first two quarters of
1999," he said. "The Company's year to date 1999 performance is 25% ahead of
1998, reflecting very favorably on IBC's commitment to superior earnings. In
terms of earnings per share, these earnings results translate into a 36%
increase in diluted earnings per share for the third quarter, and a 27% increase
for the first nine months, truly demonstrating that IBC is 'doing more' for each
shareholder."
Income before goodwill charges, which excludes the amortization of core
deposit intangibles and goodwill, increased 31% to $18.8 million or $1.19 per
share - basic ($1.17 per share - diluted) for the third quarter of 1999 compared
to $14.3 million or $.91 - per share - basic ($.88 per share - diluted) in the
corresponding 1998 period.
Total assets at September 30, 1999, were $5.3 billion compared to $4.9
billion at September 30, 1998. Deposits at September 30, 1999, were $3.4 billion
compared to $3.3 billion at September 30, 1998.
IBC is a $5.3 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.
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"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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