SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* RONEY GLEN E (Last) (First) (Middle) P. O. BOX 5910 (Street) MCALLEN TX 78502 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol TEXAS REGIONAL BANCSHARES INC [ TRBS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chairman of the Board and CEO
	3. Date of Earliest Transaction (Month/Day/Year) 05/03/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	05/03/2006		A	V	7.5367(1)	A	$29.0591	210,028.0447	I	By Trustee of ESOP
Class A Common Stock	05/11/2006		G	V	2,000	D	$0(2)	3,040,212	D
Class A Common Stock								427,724	I	By Wife
Class A Common Stock								35,415	I	By Corporation

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option (right to buy)	$12.169							07/01/2001	04/15/2011	Class A Common Stock	6,160		6,160	D
Incentive Stock Option (right to buy)	$12.169							07/01/2002	04/15/2011	Class A Common Stock	8,217		14,377	D
Incentive Stock Option (right to buy)	$12.169							07/01/2003	04/15/2011	Class A Common Stock	8,217		22,594	D
Incentive Stock Option (right to buy)	$12.169							07/01/2004	04/15/2011	Class A Common Stock	7,353		29,947	D
Incentive Stock Option (right to buy)	$17.1386							08/01/2004	05/31/2012	Class A Common Stock	612		30,559	D
Incentive Stock Option (right to buy)	$17.1386							08/01/2005	05/31/2012	Class A Common Stock	5,835		36,394	D
Incentive Stock Option (right to buy)	$17.1386							08/01/2006	05/31/2012	Class A Common Stock	5,834		42,228	D
Incentive Stock Option (right to buy)	$17.1386							08/01/2007	05/31/2012	Class A Common Stock	5,834		48,062	D
Incentive Stock Option (right to buy)	$17.1386							08/01/2008	05/31/2012	Class A Common Stock	5,835		53,897	D
Incentive Stock Option (right to buy)	$17.1386							08/01/2009	05/31/2012	Class A Common Stock	3,275		57,172	D
Nonstatutory Stock Option (right to buy)	$17.1386							08/01/2002	05/31/2012	Class A Common Stock	17,014		74,186	D
Nonstatutory Stock Option (right to buy)	$17.1386							(3)	05/31/2012	Class A Common Stock	51,048		125,234	D
Incentive Stock Option (right to buy)	$21.5455							08/01/2009	05/31/2012	Class A Common Stock	2,035		127,269	D
Incentive Stock Option (right to buy)	$21.5455							08/01/2010	05/31/2012	Class A Common Stock	2,502		129,771	D
Nonstatutory Stock Option (right to buy)	$21.5455							08/01/2003	05/31/2012	Class A Common Stock	2,062		131,833	D
Nonstatutory Stock Option (right to buy)	$21.5455							08/01/2004	05/31/2012	Class A Common Stock	2,063		133,896	D
Nonstatutory Stock Option (right to buy)	$21.5455							08/01/2005	05/31/2012	Class A Common Stock	2,062		135,958	D
Nonstatutory Stock Option (right to buy)	$21.5455							08/01/2006	05/31/2012	Class A Common Stock	2,063		138,021	D

Explanation of Responses:

1. The amount represents shares allocated to my account as a participant in the Texas Regional Bancshares, Inc. Employee Stock Ownership Plan (the ESOP).

2. Not applicable. Shares were gifted.

3. 17,016 options become exercisable on August 1st of each year beginning August 1, 2003.

Remarks:

This Form 4 represents Part 1 of 2.

	/s/ G. E. Roney	05/22/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.