International Bancshares Corporation Ranked As Top Performing Financial Institution In South Texas

Business Wire, Sept 28, 1998

LAREDO, Texas--(BUSINESS WIRE)--SEPT. 28, 1998--International Bancshares Corporation (IBC) is the top performing banking/financial company in South Texas, according to a San Antonio Express-News report, "Top Performing Public Companies." Overall, IBC ranked as the third top performing public company.

"Laredo-based International Bancshares Corporation, the second-largest independently owned bank holding company in Texas, turned in a sparkling performance for the year ended June 30 that earned it the top ranking among financial institutions in the Express-News Top 25," an accompanying article read. Other articles in the report noted that IBC's "ratio of income to expenses is about 50 percent, better than most of its competitors," and that IBC posted a return to shareholders of 56.9 percent in one year.

In the Express-News' Top 50 list, a separate list which includes Austin and other Central Texas companies, IBC ranked eighth and was again the top-ranked banking/financial institution.

The report was compiled using information from Nordby International Inc. in Boulder, Colo., which weighed four key financial figures: one-year total return to shareholders, one-year percent change in revenue, one-year percent change in earnings per share, and profit margin.

Dennis E. Nixon, chairman and CEO of IBC, said he was delighted at the recognition. "We work hard to run 'lean and mean' in order to provide our shareholders the best value for their investment. This list obviously reflects that hard work. I'm very proud of everyone at IBC who helped make this possible."

IBC (NASDAQ: IBOC) is a $4.6 billion multi-bank holding company headquartered in Laredo, Texas, with 89 facilities in 28 communities, including San Antonio, Houston, Corpus Christi, McAllen, Brownsville and other locations throughout the Rio Grande Valley and the Texas Gulf Coast.

Additional information is available on-line at www.expressnews.com.