International Bancshares Corporation Announces Extension of Stock Repurchase Program
April 21 2017 - 12:11PM
Business Wire
International Bancshares Corporation (“IBC”) today announced
that on April 3, 2017, IBC’s Board of Directors approved the
extension of its stock repurchase program. Since April 9, 2009, in
March or April of each year, the Board has authorized the
repurchase of up to $40 million of common stock within the next
twelve months beginning on April 9 of that year. On April 3, 2017,
the Board again authorized the repurchase of up to $40 million of
its common stock during the twelve-month period commencing on April
9, 2017. Since April 9, 2009, until the present, IBC has
repurchased approximately $58 million of common stock, representing
approximately 3,035,586 shares of common stock. IBC currently has
invested approximately $292.2 million in treasury shares, which
amount has been accumulated since IBC’s inception. 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.
IBC (NASDAQ: IBOC) is a multi-bank financial holding company
headquartered in Laredo, Texas, with over $11.8 billion in total
assets and 194 facilities and 307 ATMs serving 87 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 or IBC’s website at
http://www.ibc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170421005592/en/
International Bancshares CorporationJudith Wawroski,
956-722-7611Senior Vice President
International Bancshares (NASDAQ:IBOC)
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