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): MARCH 2, 2001


                      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)


ITEM 5.     OTHER EVENTS

      ON FEBRUARY 21, 2001, INTERNATIONAL BANCSHARES CORPORATION ISSUED A NEWS
RELEASE ANNOUNCING ANNUAL 2000 EARNINGS, ATTACHED HERETO AND FILED HEREWITH AS
EXHIBIT 99 AND IS INCORPORATED HEREIN BY REFERENCE.

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
                  FEBRUARY 21, 2001.

                                       2

                                   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:  MARCH 2, 2001

                                       3

                                  EXHIBIT INDEX




        EXHIBIT                                           PAGE
        NUMBER                   DESCRIPTION             NUMBER

        99             NEWS RELEASE OF INTERNATIONAL       5
                       BANCSHARES CORPORATION DATED
                       FEBRUARY 21, 2001.

                                       4