International Bancshares Corp. has completed its entry into the insurance industry with the creation of a wholly owned insurance subsidiary under its lead bank, International Bank of Commerce-Laredo. As part of the formation of the new entity, which is called IBC Insurance Agency Inc., IBC is acquiring the Randol Alexander Insurance Agency of San Antonio. IBC Insurance Agency Inc. replaces Banker’s Insurance Agency at IBC Inc., a Texas insurance agency that had been making insurance services and products available through IBC facilities since the beginning of the year.
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