Laredo-based holding company moved up in rank to #19 from #47
LAREDO, Texas -- (Business Wire)
International Bancshares Corporation (NASDAQ: IBOC) has been ranked
among the nation’s best banks by business publishing giant Forbes
Magazine. The $12.2 billion Laredo-based multibank financial holding
company ranked 19th on the prestigious list of the 100 Best
Banks in America based on factors such as its asset quality, capital
adequacy, growth and profitability. In 2017, IBC Bank was ranked 47th
on the same list.
“Moving up from 47th on the list to 19th is
confirmation that we’re on the right track when it comes to having one
of the strongest, most reliable financial institutions in the country,”
said IBC Bank Chairman and CEO Dennis E. Nixon. “It’s gratifying, once
again, to be recognized by Forbes Magazine.”
The ninth annual “100 Best Banks” list is developed by Forbes
Magazine based on data compiled by S&P Global Market Intelligence.
Rankings reflect factors including return on average tangible equity,
return on average assets, net interest margin, efficiency ratio, net
charge-offs as a percent of total loans, nonperforming assets as a
percentage of assets, reserves as a percentage of non-performing loans,
two capital ratios (Tier 1 and risk-based) and operating revenue growth
over the last 12 months. All the data used in the evaluation is based on
regulatory filings for the period ending September 30, 2017.
Forbes Magazine has recognized IBC Bank as one of “America’s Best
Banks” in 2017, 2012 and 2010 and as one of its “100 Most Trustworthy
Companies” in 2017, 2014 and 2012. It also listed IBC Bank as one of
“America’s 100 Largest Banks” in 2017. Among other factors, IBC Bank’s
ranking was based on its $12.2 billion in assets, a 10 percent return on
average total common equity and a 55 percent efficiency ratio.
IBC is a multi-bank financial holding company headquartered in Laredo,
Texas, with 193 facilities and 296 ATMs serving 88 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180122006610/en/
Contacts:
International Bancshares Corp.
Judith Wawroski, 956-722-7611
Source: International Bancshares Corporation
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