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Press Release

Tuesday, December 11, 2012

 IBC Bank-Port Lavaca Announces Leadership Changes 

Schmidt named president and CEO;
Richard Bothe named chairman of the board

IBC Bank Port Lavaca

IBC Bank–Port Lavaca announced on Dec. 10 that President and CEO Richard Bothe will be transitioning to a leadership role as chairman of the board of the bank’s local board and named Executive Vice President Derek Schmidt as the new CEO. From left to right: IBC Bank President and CEO Dennis E. Nixon, IBC Bank-Port Lavaca Chairman of the Board Richard Bothe, and IBC Bank-Port Lavaca President and CEO Derek Schmidt. Photo credit: Philip Thomae


(Dec. 11, 2012) Port Lavaca, Texas – IBC Bank–Port Lavaca announced on Dec. 10 that President and CEO Richard Bothe will be transitioning to a leadership role as chairman of the board of the bank’s local board and named Executive Vice President Derek Schmidt as the market’s new CEO.

Bothe joined IBC Bank in early 1994 and by the end of his first year, was named to lead the Port Lavaca market. He has made his mark on the community and the banking industry by serving in a number of organizations. His extraordinary career includes being president of Formosa Plastics Calhoun High School Scholarship Foundation, Inc.; past president of the Rotary Club of Port Lavaca; member of Partners in Education Committee of Calhoun County; former board member of the Calhoun County Economic Development Corporation; former campaign chairman of United Way of Calhoun County; and treasurer for Trinity Episcopal Church of Victoria, Texas. He has served in roles on behalf of the Texas Bankers Association and served on the American Bankers Association Agricultural and Rural Bankers Committee. Thus far, Bothe’s financial career has spanned more than 50 years.

“It is an honor to express my thanks to Richard for his 18 years of exceptional service to IBC and for his commitment to the Coastal Bend community as president and CEO of IBC Bank-Port Lavaca,” said IBC Bank President and CEO Dennis E. Nixon. “As Richard transitions to leading our local IBC bank board of directors, we welcome Derek Schmidt as the new CEO and are confident he will serve the needs of our customers in Port Lavaca, Bay City, and Victoria with excellence.”

Schmidt is a graduate of Tarleton State University and SMU’s Southwestern Graduate School of Banking. He joined IBC Bank earlier this year with more than 25 years of banking and financial experience. Schmidt is a member of the Port Lavaca Rotary Club. He was drawn to IBC Bank because of its size and strength, but likes the fact it offers the customer service of a community bank. He anticipates growth for IBC Bank-Port Lavaca in the next two years because of the economic buildup in the area, including Formosa Point Comfort’s expansion and the development of Excelerate Energy’s floating liquefaction export facility. Schmidt and wife Kelli celebrated their 20th wedding anniversary in 2012 and have two high-school aged children.

IBC Bank–Port Lavaca is a division of International Bancshares Corporation (NASDAQ: IBOC), a $12.1 billion multi-bank financial holding company headquartered in Laredo, Texas, with 215 facilities and more than 335 ATMs serving 88 communities in Texas and Oklahoma. International Bancshares Corporation was named one of the nation’s 100 most trustworthy companies by Forbes in 2012. More information is available at www.ibc.com. Visit us on our YouTube channel, IBCBankWeDoMore.