Exhibit 21

List of Subsidiaries

Subsidiaries of International Bancshares Corporation

	State of Incorporation
Name	or Organization	Business	% of Ownership
IBC Subsidiary Corporation	Delaware	Bank Holding Company	100	%
IBC Life Insurance Company	Texas	Credit Life Insurance	100	%
IBC Trading Company	Texas	Export Trading	100	%
IBC Capital Corporation	Texas	Investments	100	%
Premier Tierra Holdings, Inc.	Texas	Liquidating Subsidiary	100	%

Subsidiaries of IBC Subsidiary Corporation

	State of Incorporation
Name	or Organization	Business	% of Ownership
International Bank of Commerce	Texas	State Bank	100	%
Commerce Bank	Texas	State Bank	100	%
International Bank of Commerce, Zapata	Texas	State Bank	100	%
International Bank of Commerce, Brownsville	Texas	State Bank	100	%
Gulfstar Merchant Banking I, Ltd.	Texas	Investment and Merchant Banking	70	%
Gulfstar Merchant Banking II, Ltd.	Texas	Investment Banking	70	%
Gulfstar Merchant Banking III, Ltd.	Texas	Merchant Banking	70	%