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Business Description
International Bancshares Corporation is a financial holding company that operates through its four bank subsidiaries: International Bank of Commerce (IBC), Commerce Bank, International Bank of Commerce, Brownsville and International Bank of Commerce, Zapata. IBC is the flagship bank of the Company. International Bancshares, through its bank subsidiaries, is engaged in the business of banking, including the acceptance of checking and savings deposits and the making of commercial, real estate, personal, home improvement, automobile and other installment and term loans. Certain of the bank subsidiaries are active in facilitating international trade along the United States border with Mexico and elsewhere. The international banking business of the Company includes providing letters of credit, making commercial and industrial loans and a nominal amount of currency exchange. The banks have over 100 banking and branch facilities located in 35 communities in South, Central and Southeast Texas.

Financial Information
For the nine months ended 9/30/04, total interest income rose 2% to $245.3M. Net interest income after LLP rose 2% to $167.1 million. Net income fell 8% to $85.9 million. Interest income reflects higher time deposits and lower LLP. Net income was partially offset by higher employee compensation and occupancy rates.