SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 24, 2001
INTERNATIONAL BANCSHARES CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
COMMISSION FILE NUMBER 0-9439
TEXAS 74-2157138
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(STATE OR OTHER JURISDICTION (I.R.S. EMPLOYER
OF INCORPORATION OR ORGANIZATION) 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
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
ITEM 5. OTHER EVENTS
ON JULY 24, 2001, INTERNATIONAL BANCSHARES CORPORATION ("IBC")
ISSUED A NEWS RELEASE ANNOUNCING THAT ITS BOARD OF DIRECTORS
AUTHORIZED IBC TO EXPAND ITS STOCK REPURCHASE PROGRAM. IBC IS NOW
AUTHORIZED TO REPURCHASE UP TO $60 MILLION OF ITS COMMON STOCK
THROUGH DECEMBER 2002, COMPARED TO THE PRIOR AUTHORIZATION OF $45
MILLION THROUGH DECEMBER 2001. 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 JULY 20, 2001, A TOTAL OF 969,358 SHARES HAD
BEEN REPURCHASED UNDER THIS PROGRAM AT A TOTAL COST OF APPROXIMATELY
$39 MILLION, WHICH SHARES ARE NOW REFLECTED AS 1,346,394 SHARES OF
TREASURY STOCK AS ADJUSTED FOR STOCK DIVIDENDS. THE COMPANY
CURRENTLY HAS INVESTED APPROXIMATELY $60 MILLION IN TREASURY SHARES,
WHICH AMOUNT HAS BEEN ACCUMULATED SINCE THE INCEPTION OF THE COMPANY.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c. EXHIBITS
THE FOLLOWING EXHIBIT IS FILED AS PART OF THIS REPORT:
(99) NEWS RELEASE OF INTERNATIONAL BANCSHARES CORPORATION
DATED JULY 24, 2001.
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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
(REGISTRANT)
BY: /s/ DENNIS E. NIXON
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DENNIS E. NIXON, PRESIDENT,
AND CHIEF EXECUTIVE OFFICER
DATE: JULY 24, 2001
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EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
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99 NEWS RELEASE OF INTERNATIONAL 5
BANCSHARES CORPORATION DATED
JULY 24, 2001
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