iboc_Current Folio

0001558370-19-007633.txt : 20190808 0001558370-19-007633.hdr.sgml : 20190808 20190808130359 ACCESSION NUMBER: 0001558370-19-007633 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190808 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20190808 DATE AS OF CHANGE: 20190808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL BANCSHARES CORP CENTRAL INDEX KEY: 0000315709 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 742157138 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09439 FILM NUMBER: 191008658 BUSINESS ADDRESS: STREET 1: 12OO SAN BERNARDO AVE STREET 2: PO BOX 1359 CITY: LAREDO STATE: TX ZIP: 78040-1359 BUSINESS PHONE: 9567227611 MAIL ADDRESS: STREET 1: P O BOX 1359 STREET 2: 1200 SAN BERNARDO CITY: LAREDO STATE: TX ZIP: 78040 8-K 1 f8-k.htm 8-K iboc_Current Folio_8K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8‑K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2019

INTERNATIONAL BANCSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Texas	000-9439	74‑2157138
(State or other jurisdiction	(Commission File	(IRS Employer
of incorporation	Number)	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)

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):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4 (c ) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

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. ◻




Title of Each Class:		Trading Symbol (s):		Name of each exchange on which registered:	
Common Stock, $1.00 par value		IBOC		NASDAQ	

Item 2.02 Results of Operations and Financial Condition.

On August 8, 2019, International Bancshares Corporation issued a news release announcing net income for the three and six months ended June 30, 2019. The news release, attached hereto and filed herewith as Exhibit 99, is incorporated by reference.

All of the information furnished in Item 2.02 of this report, including the accompanying exhibits, is also intended to be included under “Item 7.01 – Regulation Fair Disclosure” and shall not be deemed “filed” for the purposes of Section 18 of the Securities 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

(d) Exhibits

99 - The following exhibit is being furnished with this Current Report on Form 8-K.

EXHIBIT INDEX

Exhibit Number		Description

99		News Release of International Bancshares Corporation dated August 8, 2019

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


	By:	/s/ Dennis E. Nixon
		DENNIS E. NIXON, President
		and Chief Executive Officer

Date: August 8, 2019

EX-99.1 2 ex-99d1.htm EX-99.1 iboc_Ex_99

EXHIBIT 99


Contact:		Judith Wawroski, Treasurer and Principal Financial Officer
		International Bancshares Corporation
		(956) 722-7611

FOR IMMEDIATE RELEASE:

IBC Reports Strong 2019 Earnings

LAREDO, Texas—(BUSINESS WIRE)— August 8, 2019—International Bancshares Corporation (NASDAQ:IBOC), one of the largest independent bank holding companies in Texas, today reported net income for the six months ended June 30, 2019 was $101.9 million or $1.55 diluted earnings per common share ($1.55 per share basic) compared to $106.3 million or $1.59 per share diluted earnings per common share ($1.61 per share basic) for the same period of 2018, representing a 3.7 percent decrease in diluted earnings per share and a 4.1 percent decrease in net income. Net income for the three months ended June 30, 2019 was $50.0 million or $.76 diluted earnings per common share (.76 per share basic) compared to $52.9 million or $.79 per share diluted earnings per common share ($.80 per share basic) for the same period of 2018.

Net income for the six months ended June 30, 2019 was positively affected by an increase in interest income due to a higher volume of loans and an increase in the overall yield of the loan portfolio offset somewhat by an increase in interest expense primarily due to an increase in the cost of borrowings expense, and an increase in the interest paid on savings and time deposit accounts.

“I am pleased with our continued earnings success for the first half of 2019. The above peer earnings success we saw in 2018 and continue to see in 2019 can be attributed to our focus on building and improving the performance of our core bank operations and continued cost control, which has been augmented by the reform of the tax laws at the end of 2017, resulting in additional net earnings. Our earnings performance continues to exceed most of our peers based on Bank Holding Company Performance Reports compiled by the Federal Financial Institutions Examination Council. Furthermore, we are confident in the strength of our balance sheet and our strong capital position enhanced by our proven track record for over 50 years,” said Dennis E. Nixon, President and CEO.

Total assets at June 30, 2019 were $12.2 billion compared to $11.9 billion at December 31, 2018. Total net loans were $6.8 billion at June 30, 2019 compared to $6.5 billion at December 31, 2018. Deposits were $8.8 billion at June 30, 2019 compared to $8.7 billion at December 31, 2018.

IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 189 facilities and 288 ATMs serving 89 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.