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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000890566-99-000822.txt : 19990630
<SEC-HEADER>0000890566-99-000822.hdr.sgml : 19990630
ACCESSION NUMBER:		0000890566-99-000822
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	19990622
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		19990629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL BANCSHARES CORP
		CENTRAL INDEX KEY:			0000315709
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				742157138
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	000-09439
		FILM NUMBER:		99654155

	BUSINESS ADDRESS:	
		STREET 1:		12OO SAN BERNARDO AVE
		STREET 2:		PO BOX 1359
		CITY:			LAREDO
		STATE:			TX
		ZIP:			78040-1359
		BUSINESS PHONE:		9567227611

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1359
		STREET 2:		1200 SAN BERNARDO
		CITY:			LAREDO
		STATE:			TX
		ZIP:			78040
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<TEXT>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

                     ---------------------------------------


                       PURSUANT TO SECTION 13 OR 15 (D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of earliest event reported): June 22, 1999


                      INTERNATIONAL BANCSHARES CORPORATION
             (Exact Name of Registrant as Specified in its Charter)


                          Commission File Number 0-9439


           TEXAS                                      74-2157138
  (State or other Jurisdiction                     (I.R.S. Employer
of incorporation or organization)                 Identification No.)


1200 SAN BERNARDO, LAREDO, TEXAS                     78040-1359
(Address of principal executive offices)             (ZIP Code)


       (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) (956) 722-7611


                                      NONE
          (Former name or former address, if changed since last report)
<PAGE>
ITEM 5.  OTHER EVENTS

         On June 22, 1999, International Bancshares Corporation ("IBC") issued a
news release announcing that IBC's board of directors had authorized IBC to
repurchase up to $9 million of its common stock during the next 12 months. Stock
repurchases may be made from time to time, on the open market through private
transactions. Shares repurchased in this program will be held in treasury for
reissue for various corporate purposes, including employee stock option plans.
IBC currently has approximately $21.5 million invested in treasury shares.

         International Bancshares Corporation is a $4.8 billion multi-bank
holding company headquartered in Laredo, Texas, with facilities in San Antonio,
Houston, Corpus Christi, McAllen, Brownsville, Zapata, and throughout the Rio
Grande Valley and the Texas gulf coast.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         c.       Exhibits

         The following exhibit is filed as part of this report:

         (99) News release of International Bancshares Corporation dated June
         22, 1999.

                                        2
<PAGE>
                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                            INTERNATIONAL BANCSHARES CORPORATION
                                            (Registrant)


                                            By:/S/ DENNIS E. NIXON
                                                   DENNIS E. NIXON, President,
                                                   and Chief Executive Officer

Date: June 28, 1999

                                        3
<PAGE>
                                  EXHIBIT INDEX

EXHIBIT                                                                    PAGE
NUMBER                       DESCRIPTION                                  NUMBER
- ------                       -----------                                  ------
99                   News Release of International                          5
                     Bancshares Corporation dated
                     June 22, 1999

                                        4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<TEXT>

                                                                      EXHIBIT 99

CONTACT:
Dennis E. Nixon
Chairman & CEO
International Bancshares Corporation
(956) 722-7611

Katie Brickman or
Stephanie Jersig
Taylor West Advertising
(210) 826-8899

FOR IMMEDIATE RELEASE:

  INTERNATIONAL BANCSHARES CORPORATION AUTHORIZES ADDITIONAL STOCK REPURCHASES

Laredo, Texas-- (BUSINESS WIRE) -- (June 22, 1999)--International Bancshares
Corporation (NASDAQ:IBOC) announced that its board of directors authorized the
Company to repurchase up to $9 million of its common stock during the next 12
months.

Stock repurchases may be made from time to time, on the open market or through
private transactions. Shares repurchased in this program will be held in
treasury for reissue for various corporate purposes, including employee stock
option plans. The Company currently has approximately $21.5 million invested in
treasury shares.

IBC is a $4.8 billion multi-bank holding company headquartered in Laredo, Texas,
with 93 facilities and 164 ATM's serving 28 communities including Houston, San
Antonio, Corpus Christi, McAllen, Brownsville, Port Lavaca, Zapata and
throughout the Rio Grande Valley and the Texas Gulf Coast.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
contain forward looking information with respect to plans, projections or future
performance of IBC and its subsidiaries, the occurrence of which involve certain
risks and uncertainties detailed in IBC's filings with the Securities and
Exchange Commission.

Copies of IBC's SEC filings and Annual Report (as an exhibit to the 10-K) may be
downloaded from the Internet at no charge from FreeEDGAR, a real-time access to
SEC filings site located at HTTP://WWW.FREEEDGAR.COM.

                                        5
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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