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): March 21, 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 (ZIP Code)
executive offices)
(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 March 20, 2000, International Bancshares Corporation issued a news
release announcing the declaration of a sixty-cent per share for all holders of
Common Stock, $1.00 par value, of record on March 31, 2000 said cash dividend to
be payable on April 14, 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
March 20, 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
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DENNIS E. NIXON, President,
and Chief Executive Officer
Date: March 20, 2000
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EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
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99 News Release of International 5
Bancshares Corporation dated March
20, 2000.
4
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
CASH DIVIDEND
LAREDO, TX,.....March 20, 2000......International Bancshares Corporation ("IBC")
today announced that on March 16, 2000, the Board of Directors approved the
declaration of a $.60 per share cash dividend, for shareholders of record as of
March 31, 2000, payable on April 14, 2000, which represents a 20% increase over
the dividend of 50 cents per share paid on October 15, 1999.
"This increased 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 these 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 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.
"This past year's performance reflects the commitment IBC has to superior
earnings" he said. 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 over 90 facilities and 176 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.freeeedgar.com.
