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): May 7, 2012
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4 (c ) under the Exchange Act (17 CFR 240.13e-4 (c))
Item 2.02 Results of Operations and Financial Condition.
On May 7, 2012, International Bancshares Corporation issued a news release announcing first quarter March 31, 2012 earnings. The news release, attached hereto and filed herewith as Exhibit 99, is incorporated herein 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 and 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 — News Release of International Bancshares Corporation dated May 7, 2012.
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: May 7, 2012 |
| |
EXHIBIT 99
|
Contact: |
|
Judith Wawroski |
|
|
|
International Bancshares Corporation |
|
|
|
(956) 722-7611 |
FOR IMMEDIATE RELEASE:
IBC Announces First Quarter 2012 Earnings
LAREDO, Texas—(BUSINESS WIRE)— May 7, 2012—International Bancshares Corporation (NASDAQ:IBOC), one of the largest independent bank holding companies in Texas, today reported first quarter net income for 2012 of $31.7 million compared to $33.5 million, which represents a 5.4 percent decrease in net income over the corresponding period in 2011, prior to amounts related to participation in the TARP program, including preferred stock dividends and amounts related to the Warrants. After these amounts, first quarter 2012 net income applicable to common shareholders was $28.3 million, or $.42 diluted earnings per common share ($.42 per share basic), as compared to net income of $30.2 million or $.45 diluted earnings per common share ($.45 per share basic) for the same period of 2011.
Net income available to common shareholders for the first quarter of 2012 decreased by 6.3% as compared to the same period of 2011. Net income during the first quarter of 2011 was positively impacted by a lower provision for probable loan losses of approximately $4.1 million, $2.7 million after tax, compared to approximately $5.3 million, $3.4 million, after tax, in the first quarter of 2012. Net income during the first quarter of 2012 was negatively impacted by lower levels of non-interest income resulting primarily from regulatory changes related to interchange fee income and overdraft programs.
“I’m pleased with the Company’s continued earnings success in 2012, especially in light of this still unsettled economic environment as well as the regulatory challenges confronting the industry. Even in the face of all these difficulties, IBC has continued to produce solid earnings. We are confident in the strength of our balance sheet, strong capital and the quality of our loan portfolio. We are pleased that the economies of Texas and Oklahoma continue to perform better than the national economy,” said Dennis E. Nixon, President and CEO. Mr. Nixon further commented, “We are proud to report that in 2012 IBC was named one of the 100 most trustworthy companies in the U.S. in an annual survey commissioned by Forbes.”
Total assets at March 31, 2012 were $11.8 billion compared to $11.7 billion at December 31, 2011. Total net loans were $4.9 billion at March 31, 2012 compared to $5.0 billion at December 31, 2011. Deposits were $8.3 billion at March 31, 2012 compared to $7.9 billion at December 31, 2011.
IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 215 facilities and 378 ATMs serving 88 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.