International Bank of Commerce-Oklahoma has acquired assets from International Bank of Commerce-Laredo, effectively transferring the Oklahoma banking operations into the new IBC- Oklahoma charter at book value.
"IBC Bank-Oklahoma has been part of the state's landscape since its founding in June 2004 with the purchase of Local Financial Corporation," explained IBC Bank-Oklahoma President and CEO Bill Schonacher. "This new charter makes us even more a part of the landscape by transitioning us from a Texas-based business operating in Oklahoma to an Oklahoma-based business operating in our home state."
IBC Bank-Oklahoma will continue its involvement in the 32 Oklahoma communities it serves through its participation in programs such as the United Way and its financial literacy initiatives, Money Buzz and Get Smart About Credit.
The transition will be seamless for IBC Bank- Oklahoma customers. The bank will retain its 50 branch locations and approximately 460 employees in the state and will remain part of the International Bancshares Corporation holding company, according to Chairman Dennis E. Nixon.
"Oklahoma and its people are absolutely remarkable," Nixon said. "We have taken this step so we can participate even more fully in that exceptional culture. This change is about being good corporate citizens and will have no effect on staffing or the services we offer."
IBC Bank-Oklahoma is a member of International Bancshares Corporation (NASDAQ: IBOC), an $11.9 billion multi-bank financial holding company headquartered in Laredo, Texas, with 204 facilities and 309 ATMs serving 88 communities in Oklahoma and Texas. IBC Bank-Oklahoma has been serving the Sooner State since 2004 and has a retail branch network of 50 locations. Visit us on our YouTube channel, IBCBankWeDoMore.
MEMBER FDIC / INTERNATIONAL BANCSHARES CORPORATION. More information is available at ibc.com.