International Bancshares Corporation (IBC) (NASDAQ: IBOC) has been ranked among the nation's best by business publishing giant Forbes magazine. The $11.8 billion Laredo-based multibank financial holding company ranked 46th 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 2016, International Bancshares Corporation was ranked 50th on the same list.
The selection comes after IBC celebrated its 50th year of service in Texas and Oklahoma in 2016. Since its founding in 1966, IBC serves 88 communities with 204 branches and 309 ATMs.
"Forbes confirms what our employees and clients already know," said International Bancshares Corporation Chairman and CEO Dennis E. Nixon. "IBC is among the strongest, most reliable banking companies in America. It's gratifying to be recognized by industry experts. Our top priority is our relationship with our clients and staying true to our commitment to the communities we serve, and ‘Doing More', is the foundation of everything we do."
The eighth annual "100 Best Banks" list is developed by Forbes based on data compiled by SNL Financial of Charlottesville, Virginia. This year's rankings evaluated factors including nonperforming assets as a percent of assets, reserves as a percent of non-performing loans, two capital ratios (Tier 1 and risk-based) and 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, 2016.
IBC was also recognized by Forbes as one of "America's Best Banks" in 2010 and 2012 and as one of its "100 Most Trustworthy Companies" in 2012 and 2014, and one of "America's 100 Largest Banks" in 2016. Among other factors, IBC's ranking was based on its $12 billion in assets, a 9.4 percent return on average total common equity and a 16.8 percent efficiency ratio.
IBC Bank and Commerce Bank are members of International Bancshares Corporation (NASDAQ: IBOC), an $11.8 billion multi-bank financial holding company headquartered in Laredo, Texas celebrating 50 years in banking since its founding in 1966. International Bancshares Corporation consists of 194 facilities and 307 ATMs serving 87 communities in Texas and Oklahoma. In 2017, International Bancshares Corporation was ranked 46th on Forbes' prestigious list of 100 Best Banks in America. IBC Bank's commitment to "Do More" reflects the bank's dedication to the growth and success of both the customers and the communities it serves. Visit us on our YouTube channel, IBCBankWeDoMore.
. MEMBER FDIC / INTERNATIONAL BANCSHARES CORPORATION. More information is available at ibc.com.