UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below);
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 | Other Events. |
On February 4, 2022 International Bancshares Corporation (“IBC”) issued a news release announcing that on February 3, 2022, IBC’s Board of Directors approved the early declaration of a sixty cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on February 15, 2022, payable on February 28, 2022.
The news release announcing the cash dividend attached hereto and filed herewith as Exhibit 99, is incorporated herein by reference.
All of the information furnished in Item 8.01 of this report and the accompanying exhibits is also intended to be included under “Item 7.01 — Regulation Fair Disclosure,” shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, is not subject to the liabilities of that section and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01 | Financial Statements and Exhibits. |
99 | News Release of International Bancshares Corporation dated February 4, 2022, entitled, “International Bancshares Corporation Announces Cash Dividend” |
104 | Cover page Interactive Data File (embedded within the Inline XBRL document) |
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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 | ||
Chairman of the Board | ||
February 4, 2022 |
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EXHIBIT 99
Contact: Judith Wawroski
Treasurer and Principal Financial Officer
International Bancshares Corporation
(956) 722-7611 (Laredo)
FOR IMMEDIATE RELEASE
INTERNATIONAL BANCSHARES CORPORATION
ANNOUNCES CASH DIVIDEND
LAREDO, TX, February 4, 2022 - International Bancshares Corporation (“IBC”) announced today that on February 3, 2022, IBC’s Board of Directors approved the declaration of a .60 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on February 15, 2022, payable on February 28, 2022. The Company previously modified its discretionary dividend program due to COVID-19 by moving up the payment date, so future dividends, if declared, will likely occur in February and August going forward. “This discretionary cash dividend was made possible because of our Company’s strong financial performance, augmented by the benefits of the 2017 Tax Cut and Jobs Act, and our exceptionally strong capital position,” said Dennis E. Nixon, president and CEO of IBC.
IBC (NASDAQ:IBOC - News) is a multi-bank financial holding company headquartered in Laredo, Texas, with approximately $15.7 billion in total assets and 169 facilities and 260 ATMs serving 76 communities in Texas and Oklahoma.
“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 SEC filings site located at http://www.sec.gov/edgar.shtml or IBC’s website at http://www.ibc.com.
Cover |
Feb. 03, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Feb. 03, 2022 |
Entity File Number | 000-09439 |
Entity Registrant Name | INTERNATIONAL BANCSHARES CORPORATION |
Entity Central Index Key | 0000315709 |
Entity Tax Identification Number | 74-2157138 |
Entity Incorporation, State or Country Code | TX |
Entity Address, Address Line One | 1200 San Bernardo |
Entity Address, City or Town | Laredo |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 78040-1359 |
City Area Code | 956 |
Local Phone Number | 722-7611 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $1.00 par value |
Trading Symbol | IBOC |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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