International Bancshares Corporation

IBC Bank Names Kyle McElvaney President and CEO of Oklahoma Market

Retrieved on: 
Monday, March 4, 2024

The IBC Bank-Oklahoma board of directors announced the promotion of Kyle McElvaney as president and CEO of IBC Bank for the state of Oklahoma.

Key Points: 
  • The IBC Bank-Oklahoma board of directors announced the promotion of Kyle McElvaney as president and CEO of IBC Bank for the state of Oklahoma.
  • McElvaney previously served as president of IBC Bank in Oklahoma City.
  • View the full release here: https://www.businesswire.com/news/home/20240304767893/en/
    Kyle McElvaney, president and CEO of IBC Bank for the state of Oklahoma (Photo: Business Wire)
    Robert L. Mills, IBC Bank-Oklahoma chairman of the board, stated, “Kyle is a seasoned executive with a strong background in managing commercial and retail banking for IBC.
  • Expect great things to come.”
    McElvaney was named president of IBC Bank-Oklahoma City in January 2017, previously serving as executive vice president of IBC Bank’s Oklahoma market.

International Bancshares Corporation Increases Cash Dividend by 4.76%

Retrieved on: 
Thursday, February 1, 2024

International Bancshares Corporation (NASDAQ: IBOC) announced today that on Jan. 31, 2024, IBC’s Board of Directors approved the declaration of a 66 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on Feb. 15, 2024, payable on Feb. 28, 2024.

Key Points: 
  • International Bancshares Corporation (NASDAQ: IBOC) announced today that on Jan. 31, 2024, IBC’s Board of Directors approved the declaration of a 66 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on Feb. 15, 2024, payable on Feb. 28, 2024.
  • This dividend represents a 4.76% or 3 cents per share increase above IBC’s previous dividend paid on Aug. 25, 2023.
  • “This discretionary cash dividend was made possible because of our Company’s continued record of superior financial results.
  • Adding to this strong performance is our exceptionally strong capital position, significant liquidity, and more than fifty-seven years of positive earnings.

IBC Continues to Deliver Exceptional Earnings

Retrieved on: 
Thursday, November 2, 2023

We are also continuing to monitor economic conditions impacting our loan portfolio and have factored these forecasts into our allowance for credit loss calculation.

Key Points: 
  • We are also continuing to monitor economic conditions impacting our loan portfolio and have factored these forecasts into our allowance for credit loss calculation.
  • “Our net interest margin continues to be positively impacted by the current interest rate environment in light of the Federal Reserve Board’s actions to increase interest rates.
  • The cornerstone of our day-to-day decisions continues to be our proven legacy commitment to expense control and non-interest income growth to protect our earnings.
  • IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 168 facilities and 258 ATMs serving 75 communities in Texas and Oklahoma.

IBC Continues Stellar Earnings

Retrieved on: 
Thursday, August 3, 2023

Net income for the three months ended June 30, 2023 was $100.5 million or $1.62 diluted earnings per common share ($1.62 per share basic) compared to $58.0 million or $.92 diluted earnings per common share ($.92 per share basic), which represents an increase of 73.3% in net income and an increase of 76.1% in diluted earnings per share over the corresponding period in 2022.

Key Points: 
  • Net income for the three months ended June 30, 2023 was $100.5 million or $1.62 diluted earnings per common share ($1.62 per share basic) compared to $58.0 million or $.92 diluted earnings per common share ($.92 per share basic), which represents an increase of 73.3% in net income and an increase of 76.1% in diluted earnings per share over the corresponding period in 2022.
  • We have high levels of liquidity, and because of that we have the flexibility to allow some deposits to move.
  • The cornerstone of our day-to-day decisions continues to be our proven legacy commitment to expense control and non-interest income growth to protect our earnings.
  • IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 167 facilities and 257 ATMs serving 75 communities in Texas and Oklahoma.

International Bancshares Corporation Announces Cash Dividend

Retrieved on: 
Thursday, July 27, 2023

International Bancshares Corporation (NASDAQ: IBOC) announced today that on July 25, 2023, IBC’s Board of Directors approved the declaration of a .63 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on August 11, 2023, payable on August 25, 2023.

Key Points: 
  • International Bancshares Corporation (NASDAQ: IBOC) announced today that on July 25, 2023, IBC’s Board of Directors approved the declaration of a .63 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on August 11, 2023, payable on August 25, 2023.
  • “This discretionary cash dividend was made possible because of our Company’s continued record of superior financial results.
  • Adding to this strong performance is our exceptionally strong capital position, significant liquidity, and more than fifty-six years of positive earnings.
  • IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with approximately $15.1 billion in total assets and 167 facilities and 257 ATMs serving 75 communities in Texas and Oklahoma.

Diamond Beach Holdings LLC Taps Strategyst LLC as Whitecap NPI's Exclusive Listing Agent

Retrieved on: 
Wednesday, May 31, 2023

CORPUS CHRISTI, Texas, May 31, 2023 /PRNewswire/ -- Texas-based Diamond Beach Holdings LLC, a wholly owned subsidiary of International Bancshares Corporation, today announced Strategyst has been named the exclusive listing agent for its $800 million master-planned community, Whitecap NPI. The high-end, coastal contemporary luxury residential and resort destination is the first of its kind to grace North Padre Island.

Key Points: 
  • CORPUS CHRISTI, Texas, May 31, 2023 /PRNewswire/ -- Texas-based Diamond Beach Holdings LLC, a wholly owned subsidiary of International Bancshares Corporation, today announced Strategyst has been named the exclusive listing agent for its $800 million master-planned community, Whitecap NPI.
  • "Strategyst is highly esteemed for their depth of talent, experience, and knowledge with luxury residential properties, resort marketing, and sales.
  • We are thrilled to have them join the Whitecap team," said Jennifer Hoff, representative of Diamond Beach Holdings, owner of Whitecap NPI.
  • Diamond Beach Holdings has enlisted Strategyst to spearhead the marketing and sales program for Whitecap NPI because of its proven track record and resounding success in the international luxury, residential, second home, and resort fields.

International Bancshares Makes Forbes’ America’s Best Banks List

Retrieved on: 
Wednesday, May 24, 2023

International Bancshares Corporation (IBC)(NASDAQ: IBOC) has once again been ranked among the nation’s best banks by Forbes Magazine.

Key Points: 
  • International Bancshares Corporation (IBC)(NASDAQ: IBOC) has once again been ranked among the nation’s best banks by Forbes Magazine.
  • The Laredo-based multibank financial holding company ranked 32nd on the 14th annual prestigious list Best Banks in America, which ranked the 100 largest publicly traded banks and thrifts from best to worst.
  • “Our inclusion on the Best Banks in America list comes as another wonderful recognition,” said Dennis E. Nixon, president and CEO.
  • ‘Doing More’ is the foundation of everything we do.”
    The annual “Best Banks” list is developed by Forbes based on data compiled by SNL Financial of Charlottesville, Virginia.

WHITECAP NPI BREAKS GROUND ON FIRST-EVER MASTER-PLANNED COMMUNITY IN CORPUS CHRISTI

Retrieved on: 
Tuesday, May 16, 2023

CORPUS CHRISTI, Texas, May 16, 2023 /PRNewswire/ -- Corpus Christi will soon be home to the first coastal contemporary luxury residential and resort destination on North Padre Island. Diamond Beach Holdings LLC and Ashlar Development LLC broke ground today on Whitecap NPI, Corpus Christi's first-ever master-planned community within its city limits. It is also the first and only coastal contemporary luxury residential and resort destination on North Padre Island.

Key Points: 
  • Diamond Beach Holdings LLC and Ashlar Development LLC broke ground today on Whitecap NPI, Corpus Christi's first-ever master-planned community within its city limits.
  • "Today marks a significant milestone for the future of Corpus Christi and North Padre Island," said Corpus Christi Mayor Paulette Guajardo.
  • "Whitecap NPI is a catalyst for economic activity on the Island and mainland and will benefit residents and visitors.
  • Whitecap is destined to become the most influential coastal community on the Texas Coast, if not the country."

IBC Continues Stellar Earnings

Retrieved on: 
Thursday, May 4, 2023

Our net interest margin has been positively impacted by the increases in interest rates on earning assets while confronting rising interest expense from increasing deposit rates.

Key Points: 
  • Our net interest margin has been positively impacted by the increases in interest rates on earning assets while confronting rising interest expense from increasing deposit rates.
  • Our executive leadership team carefully monitors those decisions in order to manage our deposit base and the cost of our deposits.
  • Furthermore, as has been demonstrated over the last three-plus years, our legacy commitment to expense control and non-interest income growth remains firm to protect our earnings.
  • IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 167 facilities and 257 ATMs serving 75 communities in Texas and Oklahoma.

International Bancshares Corporation Announces Cash Dividend Increase

Retrieved on: 
Wednesday, February 1, 2023

International Bancshares Corporation (NASDAQ: IBOC) announced today that on January 31, 2023, IBC’s Board of Directors approved the declaration of a .63 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on February 15, 2023, payable on February 28, 2023.

Key Points: 
  • International Bancshares Corporation (NASDAQ: IBOC) announced today that on January 31, 2023, IBC’s Board of Directors approved the declaration of a .63 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on February 15, 2023, payable on February 28, 2023.
  • This dividend represents a 5%, or .03 cents per share, increase above IBC’s previous dividend paid on August 29, 2022.
  • “This discretionary cash dividend was made possible because of our Company’s continued record of superior financial results.
  • Adding to this strong performance is our exceptionally strong capital position, significant liquidity, and more than fifty-six years of positive earnings.