EXHIBIT 99 Contact: Dennis E. Nixon Chairman & CEO International Bancshares Corporation (956) 722-7611 Katie Brickman or Stephanie Jersig Taylor West Advertising (210) 826-8899 FOR IMMEDIATE RELEASE: INTERNATIONAL BANCSHARES CORPORATION REPORTS SECOND QUARTER 1999 EARNINGS LAREDO, Texas--(BUSINESS WIRE)--August 6, 1999--International Bancshares Corporation (NASDAQ:IBOC) today reported earnings for the second quarter of 1999 of $16.0 million or $1.02 per share - basic ($1.00 per share - diluted) compared to $12.8 million or $.82 per share - basic ($.79 per share diluted) in the corresponding 1998 period. Earnings for the first six months of 1999 were $31.9 million or $2.14 per share - basic ($2.10 per share diluted) compared to $26.4 million or $1.78 per share - basic ($1.72 per share diluted) in the corresponding 1998 period. Dennis E. Nixon, CEO and chairman of the board, stated that the Company's second quarter earnings represent a 25% increase over the corresponding 1998 period. "I'm extremely pleased with the results for the second quarter, especially coming on the heels of a 17% increase in earnings for the first quarter," he said. "The Company's year to date 1999 performance is 21% ahead of 1998, reflecting very favorably on IBC's commitment to superior earnings. These earnings results translate into a 27% increase in diluted earnings per share for the second quarter, and a 22% increase for the first six months, truly demonstrating that IBC is 'doing more' for each shareholder." Cash earnings, which exclude the amortization of core deposit intangibles and goodwill, increased 24% to $16.9 million or $1.08 per share - basic ($1.05 per share - diluted) for the second quarter of 1999 compared to $13.7 million or $.87 - per share - basic ($.85 per share - diluted) in the corresponding 1998 period. Total assets at June 30, 1999, were $5.1 billion compared to $4.6 billion at June 30, 1998. Deposits at June 30, 1999, were $3.5 billion compared to $3.3 billion at June 30, 1998. IBC is a $5.1 billion multi-bank holding company headquartered in Laredo, Texas, with over 90 facilities and 164 ATM's serving 28 communities including Houston, San Antonio, Corpus Christi, McAllen, Brownsville, Port Lavaca, Zapata and throughout the Rio Grande Valley and the Texas Gulf Coast. "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 Internet at no charge from FreeEDGAR, a real-time access to SEC filings site located at HTTP://WWW.FREEEDGAR.COM. 5