International Bancshares Corp. (IBC) announced that it has extended its tender offer for National Bancshares Corp. of Texas (NBC) because the lender has not yet received the necessary regulatory approval to consummate the offer.
The tender offer, launched Aug. 9, was to have closed Sept 7. The Laredo-based lender has pushed back the deadline to Sept. 28.
And the offer could be extended yet again, says Marvin Melson, president and chief executive officer of NBC. Approval from banking regulators, he notes, is expected in the fourth quarter, which starts in October.
By the close of business …