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International Bancshares Corp (NASDAQ:IBOC), a $4.3 billion financial institution with a solid track record of delivering shareholder value, announced changes to its corporate bylaws that became effective on August 6, 2025, according to a statement in a recent SEC filing. According to InvestingPro data, the company has maintained consistent dividend payments for 30 consecutive years.
The board of directors approved amendments to the company’s bylaws following updates to the Texas Business Organizations Code. Under the revised bylaws, a shareholder or group of shareholders must beneficially own at least three percent of the company’s issued and outstanding common stock to institute or maintain a derivative proceeding against the company.
The amendments also designate the Texas Business Court located in the Fourth Business Court Division as the exclusive forum for certain legal filings and claims involving the company. If that court does not have jurisdiction, the United States District Court for the Southern District of Texas will be the next designated forum, followed by the state district court of Webb County if necessary.
Additionally, the updated bylaws include a waiver of the right to a jury trial for shareholders, directors, and officers in legal actions related to internal company matters, to the fullest extent permitted by law. Anyone acquiring or holding shares of International Bancshares Corp is deemed to have notice of and to consent to these provisions.
Other updates to internal governance and operations were made as part of the bylaw amendments. The company’s common stock is listed on the Nasdaq Stock Market under the ticker IBOC.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, International Bancshares Corporation conducted its 2025 Annual Meeting of Shareholders. During the meeting, shareholders voted on several key proposals, including the election of directors, the appointment of independent auditors, and executive compensation matters. All eight nominees for the board of directors were elected to serve until the next annual meeting. The elected directors are Javier de Anda, Douglas B. Howland, Rudolph M. Miles, Dennis E. Nixon, Larry A. Norton, Roberto R. Reséndez, Antonio R. Sanchez, Jr., and Diana G. Zuniga. This meeting marked a significant event for the company as it set the stage for its governance in the coming year. The decisions made during the meeting are expected to guide International Bancshares in its strategic direction and operational oversight.
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