<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>3
<FILENAME>a2042604zex-21.txt
<DESCRIPTION>EXHIBIT 21
<TEXT>

<PAGE>

                                  "EXHIBIT 21"

                              LIST OF SUBSIDIARIES
                              --------------------

              Subsidiaries of International Bancshares Corporation
<TABLE>
<CAPTION>
        NAME                         BUSINESS                 % OF OWNERSHIP
        ----                         --------                 --------------
<S>                                  <C>                      <C>
IBC Subsidiary Corporation           Bank Holding Company          100%
IBC Life Insurance Company           Credit Life Insurance         100%
IBC Trading Company                  Export Trading                100%
IBC Capital Corporation              Investments                   100%


                   Subsidiaries of IBC Subsidiary Corporation
<CAPTION>
        NAME                         BUSINESS                 % OF OWNERSHIP
        ----                         --------                 --------------
<S>                                  <C>                      <C>
International Bank of Commerce       State Bank                    100%
Commerce Bank                        State Bank                    100%
International Bank of Commerce,
  Zapata                             State Bank                    100%
International Bank of Commerce,
  Brownsville                        State Bank                    100%
</TABLE>


</TEXT>
</DOCUMENT>