MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported a loss of $37.5 million in its first quarter.
The McKinney, Texas-based bank said it had a loss of 91 cents per share. Earnings, adjusted for non-recurring costs, came to $1.07 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The bank holding company posted revenue of $213.9 million in the period. Its revenue net of interest expense was $140.7 million, which also missed Street forecasts. Four analysts surveyed by Zacks expected $149.6 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBTX at https://www.zacks.com/ap/IBTX
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.