International Bancshares Corporation, the parent company of IBC Bank, has been ranked by “Hispanic Business Magazine” as the No. 1 Hispanic-owned financial institution in the nation on the publication’s 2009 list.
IBC also placed as the No. 1 Hispanic-owned business in Texas and sixth nationally.
The rankings are determined through data accumulated from more than 500 Hispanic-owned companies across the country, encompassing a variety of industries. IBC’s 2008 revenues of more than $754 million dollars combined with a staff of more than 3,800 employees determined the institution’s high rankings.
This is the fifth consecutive year IBC has ranked as the top Hispanic-owned financial institution in the nation and its fourth consecutive year as the number one Hispanic-owned business in Texas.
“As the country fell deep into a recession marked by risky loans and bad mortgages, IBC stayed the course and relied upon our sound and prudent business practices to steer us through the turmoil,” IBC chairman and chief executive officer Dennis E. Nixon said. “Holding our place in the ranking while others have struggled this year is a testament to the hard work and dedication of the entire IBC team. I am truly proud of our work through this difficult economic time and I am confident the bank will continue to excel.”
Founded in 1966, the bank’s original mission was to respond to the needs of Laredo’s small businesses. Today, IBC serves as the flagship bank of International Bancshares Corporation.
Since its opening, IBC has grown from less than one million dollars in assets to $12 billion, making it one of Texas’ largest holding companies and a leader in banking.
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