Independent Bank Group: Q1 Earnings Snapshot

MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported first-quarter profit of $24.2 million.

The bank, based in McKinney, Texas, said it had earnings of 58 cents per share. Earnings, adjusted for non-recurring costs, were 63 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The bank holding company posted revenue of $248.1 million in the period. Its revenue net of interest expense was $115.9 million, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $119.8 million.


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