IBC Bank Serves Six of the Nation’s Top Performing Economic Cities

IBC Bank, with 280 branches across Texas and Oklahoma, continues to expand its presence in six of the nation’s top economic growth cities in these states, based on a recent survey from the Brookings Institution. Brookings’ MetroMonitor study examined the employment, unemployment, output, home prices, and foreclosure rates for the nation’s 100 largest metropolitan areas, and the Texas and Oklahoma cities of San Antonio, Austin, Houston, McAllen, Oklahoma City and Tulsa all ranked in the top twelve. Austin and McAllen surpassed pre-recession peak output (GMP) last quarter, McAllen added jobs counterbalancing national unemployment numbers, and the housing market in Texas stabilized during this time period. IBC Bank’s presence in these six economically vibrant cities is evidence of the bank’s strong commitment and dedication to answering the financial needs of all its customers.

“The economies and hard work of Texas and Oklahoma continue to outperform the national economy,” IBC Chairman and CEO Dennis E. Nixon said. “These cities continue to remain on the forefront of the recovery and we are proud to provide services and create employment across all of the cities in our markets.”

The report compared quarterly indicators of economic recession and recovery in the nation’s 100 largest metropolitan areas, which includes those with at least 500,000 residents that collectively contain two-thirds of the nation’s jobs and generate three-quarters of the GDP. The MetroMonitor’s Overall Performance index combines metropolitan rankings on four key indicators: percent employment change from peak quarter to 2nd quarter 2009, percentage point change in unemployment rate from June 2008 to June 2009, percent GMP change from peak quarter to 2nd quarter 2009, and percent change in House Price Index from 2nd quarter 2008 to 2nd quarter 2009.

IBC’s strength and prudent business practices have been recognized by several publications and institutions. IBC was recognized by the American Bankers Association’s Banking Journal as the eleventh top performing bank in the country and this year, and Hispanic Business Magazine recognized IBC as the number one Hispanic-owned financial institution in the country and the top Hispanic-owned business in Texas ranking sixth nationally.

International Bancshares Corporation (NASDAQ: IBOC) is an $11.7 billion multi-bank financial holding company headquartered in Laredo, Texas, with 280 facilities and more than 440 ATMs serving 104 communities in Texas and Oklahoma.

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