International Bancshares Corporation Ranked Third on Forbes’ America’s Best Banks List for 2023

Rhea-AI Summary

International Bancshares (IBC) has been ranked 3rd on Forbes' America's Best Banks list for 2023, showcasing its financial strength and performance. The company's consistent focus on asset quality, capital adequacy, growth, profitability, efficiency, and stock performance has led to this prestigious recognition.

Insights

Financial Analyst

The inclusion of International Bancshares Corporation (IBC) at a high position on Forbes' America's Best Banks list could indicate a robust financial profile, which is often associated with strong asset quality, effective capital management and commendable operational efficiency. Investors may view this external validation as a positive signal, especially when considering financial institutions for their portfolios.

Particular attention should be paid to IBC's adherence to long-standing practices of balance sheet management, which hints at a disciplined approach to financial strategy. This discipline often translates to better risk-adjusted returns over time. The impact on the stock market could manifest as increased investor confidence in IBC's stock, potentially leading to an uptick in share price as market participants react to the news.

Market Research Analyst

The recognition by Forbes may enhance IBC's reputation among consumers and investors alike, potentially increasing its competitive edge in the market. From a customer's perspective, banking with a Forbes-ranked institution could be perceived as more trustworthy, possibly driving customer acquisition and retention. For investors, this accolade could signify operational excellence, which is an attractive quality for those seeking stable long-term investments in the financial sector.

Moreover, the visibility that comes with such a ranking may boost market awareness of IBC's performance and strategic direction. In the long term, this could result in a more engaged and loyal shareholder base.

Economist

Forbes' ranking takes into account a gamut of economic and financial health indicators which are important barometers of a bank's overall economic contribution and stability. IBC's high ranking suggests that it is not only managing its assets and liabilities effectively but is also likely contributing positively to the economic ecosystem in its service areas, Texas and Oklahoma. This can induce a ripple effect, potentially facilitating more business transactions and economic growth in these regions, which in turn may fuel further growth for the bank.

The strategic implications for IBC involve leveraging this recognition to potentially attract more corporate customers and investors looking for stable banking partnerships, potentially leading to expanded market share and enhanced shareholder value.

LAREDO, Texas--(BUSINESS WIRE)-- International Bancshares Corporation (IBC)(NASDAQ: IBOC) has once again been ranked among the nation’s best banks by Forbes Magazine.

The Laredo-based multibank financial holding company ranked 3^rd on the 15^th annual prestigious list of Best Banks in America. The top two hundred largest publicly traded banks and thrifts by asset size were eligible for the list; however, only the top one hundred were ranked after Forbes’ analysis of ten equally weighted financial metrics that measure factors such as asset quality, capital adequacy, growth and profitability, efficiency and stock performance.

“Our ranking third on the Forbes’ America’s Best Banks list for 2023 is a wonderful honor and one that makes me incredibly proud of our IBC team. Every team member, from the employees working at a branch to the employees working on our corporate team, has a hand in this recognition. Our board of directors and executive management team sets the vision for our company, but it is up to all team members to execute that vision in a consistent manner. We remain focused on continuing to execute on long-standing practices of balance sheet, asset liability, and liquidity management, as well as cost controls,” said Dennis E. Nixon, president and CEO.

IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 165 facilities and 256 ATMs serving 75 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: https://www.businesswire.com/news/home/20240412195649/en/

Judith I. Wawroski

Treasurer and Principal Financial Officer

International Bancshares Corporation

(956) 722-7611

Source: International Bancshares Corporation

FAQ

What ranking did International Bancshares (IBC) achieve on Forbes' America's Best Banks list for 2023?

International Bancshares (IBC) ranked 3rd on Forbes' America's Best Banks list for 2023.

How many financial metrics did Forbes analyze to determine the rankings?

Forbes analyzed ten equally weighted financial metrics to determine the rankings.

Where is International Bancshares (IBC) headquartered?

International Bancshares (IBC) is headquartered in Laredo, Texas.

How many facilities and ATMs does International Bancshares (IBC) have?

International Bancshares (IBC) has 165 facilities and 256 ATMs serving 75 communities in Texas and Oklahoma.

Who is the president and CEO of International Bancshares (IBC)?

Dennis E. Nixon is the president and CEO of International Bancshares (IBC).