IBC Bank Serves Six of the Nation`s Top Performing Economic Cities

Tue Nov 3, 2009 9:56am EST
 
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Brookings Institution Reports Texas and Oklahoma Are among the Country`s
Strongest Economies 
LAREDO, Texas--(Business Wire)--
IBC Bank, with 280 branches across Texas and Oklahoma, continues to expand its
presence in six of the nation`s top economic growth cities in these states,
based on a recent survey from the Brookings Institution. Brookings` MetroMonitor
study examined the employment, unemployment, output, home prices, and
foreclosure rates for the nation`s 100 largest metropolitan areas, and the Texas
and Oklahoma cities of San Antonio, Austin, Houston, McAllen, Oklahoma City and
Tulsa all ranked in the top twelve. Austin and McAllen surpassed pre-recession
peak output (GMP) last quarter, McAllen added jobs counterbalancing national
unemployment numbers, and the housing market in Texas stabilized during this
time period. IBC Bank`s presence in these six economically vibrant cities is
evidence of the bank`s strong commitment and dedication to answering the
financial needs of all its customers. 

"The economies and hard work of Texas and Oklahoma continue to outperform the
national economy," IBC Chairman and CEO Dennis E. Nixon said. "These cities
continue to remain on the forefront of the recovery and we are proud to provide
services and create employment across all of the cities in our markets." 

The report compared quarterly indicators of economic recession and recovery in
the nation`s 100 largest metropolitan areas, which includes those with at least
500,000 residents that collectively contain two-thirds of the nation`s jobs and
generate three-quarters of the GDP. The MetroMonitor`s Overall Performance index
combines metropolitan rankings on four key indicators: percent employment change
from peak quarter to 2nd quarter 2009, percentage point change in unemployment
rate from June 2008 to June 2009, percent GMP change from peak quarter to 2nd
quarter 2009, and percent change in House Price Index from 2nd quarter 2008 to
2nd quarter 2009. 

IBC`s strength and prudent business practices have been recognized by several
publications and institutions. IBC was recognized by the American Bankers
Association`s Banking Journal as the eleventh top performing bank in the country
and this year, and Hispanic Business Magazine recognized IBC as the number one
Hispanic-owned financial institution in the country and the top Hispanic-owned
business in Texas ranking sixth nationally. 

International Bancshares Corporation (NASDAQ: IBOC) is an $11.7 billion
multi-bank financial holding company headquartered in Laredo, Texas, with 280
facilities and more than 440 ATMs serving 104 communities in Texas and
Oklahoma.

IBC Bank
Gabriela Carriedo, 956-726-6636
or
KGBTexas Public Relations/Advertising
Patrick Mendoza/Lacey Floerke, 210-826-8899
patrickm@kgbtexas.com
or
laceyf@kgbtexas.com

Copyright Business Wire 2009

 

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