IBC Bank largest Hispanic firm in Texas

International Bancshares Corp., the parent company of IBC Bank-San Antonio, is the top Hispanic-owned company in Texas, according to Hispanic Business magazine.

In the June 2006 issue of Hispanic Business, Laredo-based IBC (NASDAQ: IBOC) ranked sixth on the Hispanic Business 500. This is up from 10th last year. The company reported year-end 2005 revenue of $675.9 million.

IBC Bank-San Antonio operates 27 branches in the city.

"This has been a year of substantial financial growth and expansion for IBC," IBC Chairman and CEO Dennis E. Nixon says. "Moving up the ranks as a top corporate performer in the Hispanic Business 500 demonstrates our continued efforts to excel as a dynamic financial institution, forge meaningful community partnership and serve our clients to the highest degree."

Just two slots below IBC is automotive group Ancira Enterprises Inc. in San Antonio at number eight on the list. Ancira reported sales of $589.1 million in 2005. The company ranked eighth last year as well.

El Paso's Fred Loya Insurance, which has 24 locations in San Antonio, ranked 31st on the latest list with revenues of $201.7 million.

Local travel agency, The Alamo Travel Group, ranked 100th on the list with revenues of $68.5 million. Falcon International Bank in Laredo ranked 157th on the list with revenues of $33.3 million. It has one location in San Antonio.

Computer reseller Mobius Partners Server Solutions in San Antonio ranked 168th on the list with $30.1 million. Mobius' position on the ranking rose from 315th last year.

Professional Performance Development Group in San Antonio ranked 202nd on the list with revenues of $25.4 million. Davila Pharmacy Inc. ranked 271st on the list with revenues of $16.53 million.

Candle manufacturer Reed Candle Co. ranked 274th with $16.34 million in revenue. Maldonado Nursery & Landscaping ranked 279th on the list with $16 million in revenue.

Medical and information technology services provider Terrahealth Inc. ranked 287th with $15.2 million in revenue. Genesis Networks Inc., which provides enterprise solutions, ranked 297th with $14.8 million in revenue.

Kell Muņoz Architects Inc. ranked 360th with $10.4 million in revenue and educational and office furniture distributor J.R. Inc. in Universal City ranked 382nd with $9.76 million in revenue.

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.