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): April 10, 2000
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
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On April 10, 2000, International Bancshares Corporation issued a news
release announcing the declaration of a 25% stock dividend per share for all
holders of Common Stock, $1.00 par value, of record on May 18, 2000 said stock
dividend to be payable on June 12, 2000. The news release, attached hereto and
filed herewith as Exhibit 99, 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
April 10, 2000.
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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
DENNIS E. NIXON, President,
and Chief Executive Officer
Date: April 10, 2000
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EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
99 News Release of International Bancshares Corporation 5
dated April 10, 2000.
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EXHIBIT 99
FOR IMMEDIATE RELEASE Contact: Dennis E. Nixon
(956) 722-7611 (Laredo)
Katie Brickman Harvey
Taylor West Advertising
(210) 826-8899 (San Antonio)
INTERNATIONAL BANCSHARES CORPORATION ANNOUNCES
STOCK DIVIDEND
LAREDO, TX,.....April 10, 2000......International Bancshares Corporation ("IBC")
today announced that on April 6, 2000, the Board of Directors approved a 25%
stock split-up effected through a stock dividend to all holders of record of
common stock, $1.00 par value, on May 18, 2000, to be issued on June 12, 2000.
"The Board of Directors believe that stock dividends will provide an additional
incentive for shareholders to hold IBC stock", said Dennis E. Nixon, Chairman of
the Board and Chief Executive Officer.
On March 20, 2000, IBC announced a cash dividend on its outstanding shares of
common stock of .60 cents per share for shareholders of record as of March 31,
2000, payable on April 14, 2000. The cash dividend represents a 20% INCREASE in
the dividend rate of .50 cents per share that was paid October 15, 1999.
On February 23, 2000, the company reported 1999 earnings. Net income and
earnings per share for 1999 were $66.2 million or $4.11 per share-basic ($4.03
per share diluted) compared to $53.7 million or $3.30 per share basic ($3.22 per
share-diluted) in the corresponding 1998 period, representing a 23% INCREASE.
Total assets at December 31, 1999, were $5.4 billion compared to $4.9 billion at
December 31, 1998, representing a 10% growth.
IBC (NASDAQ: IBOC) is a $5.4 billion multi-bank holding company headquartered in
Laredo, Texas, with 93 facilities and 183 ATM's serving 28 communities,
including Houston, San Antonio, Corpus Christi, McAllen, Brownsville, Port
Lavaca, Zapata and cities 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.FREEEEDGAR.COM.
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