EXHIBIT 99
Contact: | Rosanne Palacios | Judy Wawroski |
| International Bancshares Corporation | International Bancshares Corporation |
| (956) 726-6636 (Laredo) | (956) 722-7611 (Laredo) |
FOR IMMEDIATE RELEASE
International Bancshares Corporation Extends its Stock Repurchase Program
Laredo, Texas—(BUSINESS WIRE)—-November 3, 2006—International Bancshares Corporation (NASDAQ:IBOC) announced that on November 2, 2006, its board of directors extended the termination date on its stock repurchase program. The Company is now authorized to conduct stock repurchases through December 2007, compared to the prior program termination date of December 2006. Under the program, the Company is authorized to repurchase up to $200 million of its common stock. Stock repurchases may be made from time to time, on the open market or through private transactions. Shares repurchased in this program will be held in treasury for reissue for various corporate purposes, including employee stock option plans. As of October 31, 2006, a total of 4,839,040 shares had been repurchased under this program at a total cost of approximately $178.6 million, adjusted for stock dividends. The Company currently has invested approximately $199.6 million in treasury shares, which amount has been accumulated since the inception of the Company.
IBC is a $10.6 billion multi-bank financial holding company headquartered in Laredo, Texas, with over 200 facilities and over 330 ATMs serving more than 90 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.
