Additional Proxy Soliciting Materials (definitive) (defa14a)
April 18 2016 - 12:19PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy
Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
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Filed by the Registrant
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Filed by a Party other than the Registrant
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Check the appropriate box:
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material under §240.14a-12
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INTERNATIONAL BANCSHARES CORPORATION
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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Payment of Filing Fee (Check the appropriate box):
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No fee required.
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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(1)
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Title of each class of securities to which transaction applies:
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(2)
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Aggregate number of securities to which transaction applies:
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(3)
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
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(4)
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Proposed maximum aggregate value of transaction:
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(5)
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Total fee paid:
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Fee paid previously with preliminary materials.
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its filing.
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(1)
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Amount Previously Paid:
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(2)
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Form, Schedule or Registration Statement No.:
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(3)
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Filing Party:
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(4)
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Date Filed:
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April 18,
2016
My
Fellow Shareholders:
Once
again, we are preparing for our
Annual Shareholders' Meeting on Monday,
May 16, 2016, at 5:00
p.m
. We encourage everyone to arrive no later than 4:30 p.m. to avoid delays.
The meeting will be held at the
IBC Annex Building at 2416 Jacaman Rd.
Laredo, Texas 78041, across from the Laredo Energy Arena
. This is our
50
th
anniversary shareholder meeting so please plan to attend. We have a lot to celebrate and reflect on over 50 years.
In preparation for the meeting, I'm enclosing the Annual Report to Shareholders containing financial statements audited by RSM US LLP, formerly known as
McGladrey LLP, as well as the formal Notice of Annual Meeting of Shareholders, Proxy Statement and a Proxy Card. The Proxy Card has been provided for the purpose of voting for the election of
Directors and other issues to be presented at the meeting.
In order to have a quorum at the meeting, I urge you to complete and sign the Proxy Card and return it in the
enclosed self-addressed envelope.
I continue to be encouraged by the results achieved in 2015. Although the performance was down from 2014, there were a number of one-time events that created this
exceptionally successful year. We continued to perform at above peer group levels in 2015 because we have maintained our focus on revenue performance and cost controls. With the enormous burden of
Dodd-Frank regulations, and the stress in the economy, achieving superior results is extremely difficult. Pressures in the market place requires your management team to be focused and committed every
single day to continue to be successful. With the drop in energy prices, the challenges have become even more daunting. Excellence must be the objective to sustain our record of being a high
performance bank. You have my commitment to keep that focus.
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2014
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2015
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Net Income available to Common Shareholders
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$
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153,151,000
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$
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136,726,000
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Total Assets
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$
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12,196,520,000
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$
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11,772,869,000
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Return on Your Shareholders' Equity
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10.24
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%
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8.44
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%
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Book Value of Each of Your Common Shares
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$
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24.76
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$
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26.11
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Basic Earnings per ShareAdjusted for Dividends
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$
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2.29
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$
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2.06
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Since
the beginning of the recession in 2008, your management team has been extremely focused on building strength throughout our system. We have been dedicated to improving the quality
of our balance sheet, building our capital strength, controlling expenses and maintaining strong earnings. I am happy to report that we have been successful with each of these initiatives, which is
clearly reflected in the data above.
Your
Board of Directors approved on March 18, 2016, a twenty-nine cents ($.29) per share cash dividend payable to all holders of common stock, $1.00 par value, of record on
April 1, 2016.
This cash dividend is enclosed with this mailing or it has been deposited directly to the account you have provided
. The Board
supports this action
because it believes that this cash dividend will add value to your shares and provide an additional incentive to hold the stock of IBC.
This
is my 41
st
year of service to IBC and it is IBC's 50
th
anniversary. These milestones fill all of us at IBC with a great deal of pride and
joy knowing that we have delivered exceptional performance for each shareholder and have continued our legacy as a successful community bank serving 88 towns and cities throughout Texas and Oklahoma
over all those many years. Community service is our mantra, and the pride of living our motto
"We do More"
every day in every market is what we strive
to achieve.
We
will have a social time immediately following our business session to celebrate the 50
th
anniversary and to provide you an opportunity to visit with your staff
and enjoy the evening. Just one last reminder,
the meeting will begin promptly at 5:00 p.m. and it will be held at the IBC Annex Building on Jacaman Road, so please plan
on arriving early in order that everyone will be assembled for the start of the meeting.
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Sincerely yours,
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Dennis E. Nixon
President
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Enclosures
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