-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AoF3LtfkUpWtVOAxhByhjwqY3b2BRa8fUkBaYuj1eHDxNntPJ/jAX5kfV/tekpZl tbCykqpmOxn2AMys8pSXOg== 0001104659-02-000563.txt : 20020414 0001104659-02-000563.hdr.sgml : 20020414 ACCESSION NUMBER: 0001104659-02-000563 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020225 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020225 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: 02556907 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 j2914_8k.htm 8-K SECURITIES AND EXCHANGE COMMISSION

 

 

 

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):  February 25, 2002

 

 

Commission File Number 0–9439

 

 

INTERNATIONAL BANCSHARES CORPORATION

(Exact Name of Registrant as Specified in its Charter)

 

 

Texas

 

74–2157138

(State or other Jurisdiction

 

(I.R.S. Employer

of incorporation or organization)

 

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)

 

 

 

 

Item 5.    Other Events

 

On February 25, 2002, International Bancshares Corporation issued a news release announcing Annual 2001 Earnings, attached hereto and filed herewith as Exhibit 99 and is incorporated herein by reference.

 

Item 7.    Financial Statements and Exhibits

 

c.             Exhibits

 

The following exhibit is filed as part of this report:

 

(99)                            News release of International Bancshares Corporation dated February 25, 2002.

 

 

2

 

 

 

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 Chief Executive Officer

 

 

 

Date:  February 25, 2002

 

 

 

 

3

 

EXHIBIT INDEX

 

 

 

Exhibit
Number

 

Description

 

Page
Number

 

 

 

 

 

99

 

News Release of International Bancshares Corporation dated February 25, 2002.

 

5

 

 

 

4

 EX-99 3 j2914_ex99.htm EX-99 Contact:

Contact:

 

Dennis E. Nixon

Chairman & CEO

International Bancshares Corporation

(956) 722-7611

 

Elizabeth Marshall or Brian Dwyer

KGBTexas, Inc.

(210) 826-8899

 

FOR IMMEDIATE RELEASE:

 

International Bancshares Corporation Reports Annual 2001 Earnings

 

LAREDO, Texas—(BUSINESS WIRE)—February 25, 2002-International Bancshares Corporation (NASDAQ:IBOC) today reported solid growth in annual earnings achieving a new milestone in total net income for the Company of $83.3 million for the year ended December 31, 2001, or $3.09 diluted earnings per share versus $75.2 million for the year ended December 31, 2000, or $2.77 diluted earnings per share taking into consideration the effect of the 25% stock dividend paid on May 17, 2001.  These very positive numbers represent an 11.6% increase in diluted earnings per share and a 10.8% increase in net income over 2000.

 

International Bancshares Corporation and Subsidiaries

Consolidated Financial Summary

 

 

 

December 31,

 

 

 

2001

 

2000

 

 

 

(Dollars in thousands, except per share data)

 

Interest income

 

$

394,419

 

$

421,627

 

Interest expense

 

(200,808

)

(251,756

)

Net interest income

 

193,611

 

169,871

 

Provision for possible loan losses

 

(8,631

)

(6,824

)

Non-interest income

 

75,524

 

57,501

 

Non-interest expense

 

(135,441

)

(111,957

)

 

 

 

 

 

 

Income before income taxes

 

125,063

 

108,591

 

Income taxes

 

(41,721

)

(33,417

)

 

 

 

 

 

 

Net income

 

$

83,342

 

$

75,174

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

Basic

 

$

3.15

 

$

2.81

 

Diluted

 

$

3.09

 

$

2.77

 

 

 

5

 

Total assets at December 31, 2001, were $6.4 billion compared to $5.8 billion at December 31, 2000.  Deposits at December 31, 2001, were $4.3 billion compared to $3.7 billion at December 31, 2000.

 

Net income for the fourth quarter of 2001 was $20.4 million or $.76 diluted earnings per share compared to $16.2 million or $.60 diluted earnings per share representing a 25.9% increase over the corresponding period in 2000.  The fourth quarter 2001 earnings were negatively affected by $3.6 million in connection with an impairment charge recognized by an equity method investee.  However, earnings were positively affected by decreasing rates paid on interest bearing liabilities and positive results of $1.3 million from investments in Small Business Investment Companies.  Dennis E. Nixon, CEO and Chairman of the Board, stated, “I am very pleased with 2001 results.  This new milestone in earnings sets IBC apart from its competitors and demonstrates management’s commitment to superior earnings.”

 

IBC is a $6.4 billion multi-bank financial holding company headquartered in Laredo, Texas, with 130 facilities and 238 ATMs serving 40 communities including Houston, San Antonio, Corpus Christi, McAllen, Brownsville, Port Lavaca, Zapata, Eagle Pass and several others in the central, southern and Gulf Coast regions of Texas.

 

“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.

 

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