• PNC Bank or U.S. Bank, but with a strong specialization in banking services along the U.S.-Mexico border.
• A regional Wells Fargo, uniquely dedicated to the economic activity and international trade spanning the U.S.-Mexico border.

• Commercial & Industrial Loans: Providing credit facilities to businesses for operational needs, expansion, and other commercial purposes.
• Real Estate Loans: Offering financing secured by commercial and residential properties, including mortgages and construction loans.
• Consumer Loans: Extending credit to individuals for personal use, such as auto loans, personal loans, and home equity lines of credit.
• Deposit Services: Accepting and managing various types of deposits from individuals and businesses, including checking, savings, money market, and certificates of deposit.
• Treasury Management Services: Delivering cash management solutions, such as remote deposit capture, ACH services, and merchant services, to optimize business financial operations.
• International Banking Services: Facilitating global trade and finance through services like letters of credit, foreign exchange, and international wire transfers.

International Bancshares (symbol: IBOC) is a bank holding company. As such, it operates primarily by providing a wide range of financial services to a diverse base of customers, rather than having a few "major customers" in the traditional sense of a supplier-client relationship. Its revenue is derived from interest income on loans and investments, as well as fees from various banking services, spread across thousands of accounts.

The company sells its services primarily to individuals and businesses. The up to three categories of customers it serves are:

• Individuals and Households: This category includes consumers seeking personal checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, auto loans, and various other consumer credit products.
• Small to Medium-sized Businesses (SMBs): IBOC provides financial solutions to a broad spectrum of businesses, including business checking and savings accounts, merchant services, treasury management solutions, and a variety of commercial loans such as lines of credit, term loans, and equipment financing.
• Commercial Real Estate Developers and Larger Commercial & Industrial (C&I) Clients: This segment includes businesses needing larger-scale commercial real estate loans for construction, acquisition, and development, as well as more complex lending and financial services for larger operating companies across various industries.

• Deloitte & Touche LLP

Dennis E. Nixon, Chairman of the Board, President, and Chief Executive Officer

Dennis E. Nixon joined International Bancshares in 1975 and has served as its Chief Executive Officer since then, becoming Chairman and President in 1979. He is widely recognized as a leading banking authority and played a pivotal role in the unprecedented growth of International Bancshares Corporation, including its extensive acquisition and expansion efforts. Nixon was also instrumental in the passage of the North American Free Trade Agreement (NAFTA) and has been actively involved in financial development between the U.S. and Mexico. He was inducted into the Texas Business Hall of Fame in 2006.

Judith I. Wawroski, Treasurer and Chief Accounting Officer

Judith I. Wawroski serves as the Treasurer and Chief Accounting Officer for International Bancshares Corporation, and Executive Vice President and Chief Accounting Officer of Corporate Financial Accounting at IBC Bank. She began her career with IBC Bank in 1992 on a part-time basis while pursuing her bachelor's degree in accounting at The University of Texas at Austin, joining full-time in 1996 and advancing through various roles.

Jay Rogers, Chairman and CEO of IBC-Houston

Jay Rogers is the Chairman and CEO of IBC-Houston and serves on the International Bancshares Corporation Investment Committee. With over 40 years of experience in the Texas banking industry, particularly in commercial lending, he has overseen the growth of IBC-Houston's assets from $150 million to over $16.1 billion during his tenure of more than 20 years.

Dalia F. Martinez, Executive Vice President

Dalia F. Martinez is an Executive Vice President at IBC Bank, bringing 35 years of banking expertise in both personal and commercial finance. She joined IBC Bank in January 1990, with over 20 years dedicated to border banking, and focuses on the business needs of the region and underserved communities.

Gustavo A. Barrera, President and CEO of IBC Bank - Corpus Christi

Gustavo A. Barrera is the President and CEO of IBC Bank - Corpus Christi, overseeing the entire Corpus Christi region. He has over 26 years of community banking experience, having started his career at IBC Bank in 1995 as a credit analyst and subsequently being promoted to credit manager and bank officer.

The clear emerging threat for International Bancshares (IBOC) comes from the continued rapid innovation and market penetration of digital-first challenger banks and specialized fintech platforms.

These entities, such as mobile-first banks and online lending/payment platforms, offer superior digital user experiences, often with lower fees and greater convenience, directly competing for deposit accounts, consumer lending, and small business financial services. This unbundling and re-bundling of financial services leveraging advanced technology presents an ongoing challenge to traditional regional banks that rely more heavily on physical branch networks and established relationship models. The continuous evolution of these digital solutions and their increasing adoption rates represent a clear and intensifying competitive pressure.

International Bancshares (IBOC) offers a variety of commercial and retail banking services, with its primary operations in Texas and Oklahoma, and a notable focus on international banking, particularly U.S.-Mexico trade. The addressable markets for their main products and services can be estimated as follows:

• Commercial Banking: The market size for the Commercial Banking industry in Texas is estimated at $108.7 billion in 2025. In Oklahoma, the Commercial Banking industry's market size is projected to be $13.4 billion in 2025.
• Retail Banking: The U.S. Retail Banking market size is estimated at approximately $0.87 trillion (USD 870 billion) in 2025. While specific figures for Texas and Oklahoma retail banking were not available, this provides a national context for the broader market.
  • Mortgage Banking (a component of Retail Banking): The residential mortgage loan volume in Texas was approximately $147 billion in 2024.
• International Banking (Trade Finance): The global trade finance market is projected to reach $9,850 billion (USD 9.85 trillion) by 2025. More specifically, the U.S. trade finance market was valued at $10.63 billion in 2024, and the North America trade finance market is estimated at $6.56 billion in 2025. Mexico is anticipated to be the fastest-growing market within North American trade finance, driven by nearshoring and increasing export volumes.
• Wealth Management: The global wealth management market was valued at approximately $1,636.83 billion (USD 1.63 trillion) in 2024 and is projected to reach $4,893.17 billion by 2034. North America held the largest share of this market in 2020. While specific market size for Texas or Oklahoma was not identified, the Dallas/Fort Worth metropolitan area alone has over 2,330 ultra-high net worth households.
• Treasury Management: The global Treasury Management market is estimated to be valued at $6.6 billion in 2025. North America is expected to hold the largest share of the treasury management market, estimated at 35% in 2025. Within the U.S. commercial banking market, treasury management services are projected to grow at a 6.79% CAGR through 2030.

Here are 3-5 expected drivers of future revenue growth for International Bancshares (IBOC) over the next 2-3 years:

1. Loan Portfolio Growth (Commercial, Real Estate, and Consumer Segments): International Bancshares has demonstrated momentum in lending across its commercial, real estate, and consumer segments, contributing to its revenue and net income outpacing consensus. Net loans increased from approximately $8.7 billion at the end of 2024 to about $9.2 billion as of September 30, 2025. This sustained pickup in lending is an encouraging sign for future revenue.
2. Strategic Market Expansion in Texas and Oklahoma: With a stable deposit base and a strong presence in Texas and Oklahoma, IBOC has opportunities to expand its market share within these regions. The company can leverage its existing infrastructure and customer relationships to offer new products and services, potentially increasing its customer base and revenue.
3. Technological Advancements and AI Initiatives: IBOC has opportunities to invest in digital banking platforms and fintech partnerships to enhance customer experience, streamline operations, and create new revenue channels through innovative financial products. The company is also leveraging new AI initiatives to enhance operational efficiencies and sustain its competitive edge.
4. Strategic Acquisitions: IBOC has a history of growth through strategic acquisitions, which presents an opportunity to further expand its market share. By identifying and acquiring complementary financial institutions, IBOC can enhance its competitive standing in the Texas and Oklahoma markets and diversify its revenue streams.
5. Increased Interest Income from Investment and Loan Portfolios: An increase in interest income earned on IBOC's investment and loan portfolios has positively impacted its net income for the first nine months of 2025. While interest expenses have also risen, the company's strategic focus on managing these expenses and leveraging AI initiatives is expected to support continued growth.

Share Repurchases

• International Bancshares' Board of Directors authorized a stock repurchase program of up to $150 million of its common stock on March 12, 2025.
• This repurchase plan commenced on March 15, 2025, and is scheduled to continue through March 15, 2026.

Inbound Investments

• Several institutional investors have recently increased their stakes in International Bancshares, reflecting ongoing confidence in the company's outlook.
• For example, AQR Capital Management LLC boosted its stake by 101.0% during the second quarter of 2025.
• Institutional investors collectively own a substantial portion of the company's stock, with some reports indicating around 65.91% as of November 2025.