International Bancshares in Laredo, Texas, has redeemed another chunk of the money it received from the Troubled Asset Relief Program.

The $11.6 billion-asset company on Thursday repaid the Treasury Department $45 million of the $176 million it owes, plus accrued dividends of $475,000. The company initially received $216 million, but repaid $40 million in July 2011. The company said in a press release Friday that it plans to redeem the remaining $131 million by June 30, 2013, though the repayment will depend on the board’s view of economic conditions at that time.

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