IBOC International Bancshares Corporation

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 8, 2015

INTERNATIONAL BANCSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code   (956) 722-7611

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4 (c )  under the Exchange Act (17 CFR 240.13e-4 (c))

Item 2.02 Results of Operations and Financial Condition.

On May 8, 2015, International Bancshares Corporation issued a news release announcing first quarter March 31, 2015 earnings.  The news release, attached hereto and filed herewith as Exhibit 99, is incorporated herein by reference.

All of the information furnished in Item 2.02 of this report, including the accompanying exhibits, is also intended to be included under “Item 7.01 — Regulation Fair Disclosure” and shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, is not subject to the liabilities of that section and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits

(d)  Exhibits:

99 — News Release of International Bancshares Corporation dated May 8, 2015.

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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.

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EXHIBIT INDEX

99               News Release of International Bancshares Corporation dated May 8, 2015.

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EXHIBIT 99

FOR IMMEDIATE RELEASE:

FOR IMMEDIATE RELEASE:

IBC Announces First Quarter 2015 Earnings

LAREDO, Texas—(BUSINESS WIRE)— May 8, 2015—International Bancshares Corporation (NASDAQ:IBOC), one of the largest independent bank holding companies in Texas, today reported first quarter net income for 2015 of $35.9 million, or $.54 diluted and basic earnings per common share, as compared to $43.6 million, or $.65 diluted and basic earnings per share for the corresponding period in 2014.  The change in net income represents a 17.7 percent decrease in net income available to common shareholders over the corresponding period in 2014 and a decrease of 16.9 percent in diluted earnings per share comparing the same period.

Net income for the first quarter of 2015 continues to be positively impacted by an increase in the net interest margin.  The increase can be attributed to increased levels of interest income arising from the re-positioning of the investment portfolio the Company undertook in prior periods, an increase in loans outstanding and a decrease in interest expense on time deposits and securities sold under repurchase agreements.  For the first quarter 2014, earnings were positively impacted by a number of one-time events, including the sale of an equity investment by a merchant banking company in which the Company holds a 50% interest, insurance proceeds from a policy the lead bank subsidiary had purchased to cover the cost of employee compensation and benefit programs, the sale of property originally held by the bank subsidiaries, the discount recorded in connection with the buyback of $10.3 million of the outstanding capital securities issued by one of the statutory business trusts formed by the Company, and gains on sales of investment securities of $5.6 million, after tax.  Negatively impacting net income for the first quarter of 2014 was a charge of $7.2 million, after tax, recorded by the Company’s lead bank subsidiary as a result of the early termination of a portion of its long-term repurchase agreements outstanding in order to help manage its long-term funding costs.

“I’m very pleased with the Company’s continued earnings success in 2015.  The Company remains committed to achieving superior earnings, despite the continued regulatory challenges facing the industry, the unprecedented debt and large deficit of the U.S. and the continued difficult economic environment across the country.  The Company continues to maintain strong liquidity, focused expense control, sound credit underwriting standards and a healthy investment strategy.  We are confident in the strength of our balance sheet and our strong capital position,” said Dennis E. Nixon, President and CEO.

Total assets at March 31, 2015 were $12.4 billion compared to $12.2 billion at December 31, 2014.  Total net loans were $5.7 billion at March 31, 2015 compared to $5.6 billion at December 31, 2014.  Deposits were $8.6 billion at March 31, 2015 and $8.4 billion at December 31, 2014.

IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 212 facilities and 325 ATMs serving 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.