VELA HONORS IBC PRESIDENT IN HOUSE OF REPRESENTATIVES

Fred Rusteberg, the community leader and retired president and CEO of IBC Bank, was honored by a proclamation read into the Congressional Record by U.S. Rep. Filemon Vela, D-Brownsville, on the floor of the U.S. House on Tuesday.

“Madam Speaker, it is an honor to recognize Frederick William Rusteberg of Brownsville, Texas, for his unwavering commitment and service to the community,” read Vela, who noted that Rusteberg served most of his professional career as head of IBC in Brownsville until his retirement in 2016.

Vela recognized Rusteberg for serving his country as an Army officer, helicopter pilot and airfield commander in South Korea in the early 1970s, service for which he received the Army Commendation Medal and an Honorable Discharge. 

Upon returning to his hometown, Rusteberg served as assistant director for the Port of Brownsville and project director for the B&M Railroad Relocation Project, which bore fruit in recent years with the relocation of Union Pacific railroad tracks, Vela noted.

During his 32 years with IBC, Rusteberg grew $1 billion in assets and 13 full-service banking facilities around Cameron County, Vela said, noting that under his leadership IBC received the Gibraltar Award from the National Bankers Association for the bank’s “strength and strategic investment practices through the years.”

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