IBC appoints Eddie Aldrete as bank's public affairs chief

International Bancshares Corp. (IBC) said Monday that the company has hired Eddie Aldrete to oversee public affairs and government relations for the Laredo-based lender.

IBC (NASDAQ: IBOC), the parent company of International Bank of Commerce, hired Aldrete as the bank's new senior vice president. He has more than 20 years experience in strategic communications, media relations and political, governmental and public affairs.

He will be based in San Antonio, although the focus of his work will be corporate-wide.

His primary task will be to promote infrastructure development and economic growth in the communities that IBC Bank serves. However, he will also monitor legislation that affects bank regulatory issues and international trade, such as free-trade agreements NAFTA and CAFTA.

Aldrete will also be the bank's chief mouthpiece related to the implementation of US-VISIT, the Department of Homeland Security's program that proponents say protects the United States' borders by screening out potential terrorists. Opponents of the program, however, argue that it stifles tourism and trade. IBC officials also contend US-VISIT will have a negative effect on border commerce.

"Eddie is an excellent addition to the IBC team and will be monitoring local and federal policies that directly impact the financial market and international trade," IBC President and CEO Dennis E. Nixon says.

"His expertise in political and governmental issues will help us maintain our ongoing commitment to social responsibility and, in turn, help us to better serve the needs of our customers," he adds.

Prior to joining IBC, Aldrete was a managing director of Public Strategies Inc., an Austin-based political and corporate consulting firm. He also headed up his own firms, Aldrete Communications and Aldrete & Terrell, and advised clients on legislative, regulatory and community issues.

Aldrete also was involved in the 1996 campaign to build the Tampa Bay Buccaneers' new stadium, the 1999 Saddles & Spurs campaign to build the SBC Center in San Antonio, and the 2003 campaign to build a light rail system in Houston.

IBC owns and operates more than 200 bank branches throughout Texas and Oklahoma. It has $10.3 billion in assets.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.