MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported third-quarter profit of $20.4 million.
The McKinney, Texas-based bank said it had earnings of 49 cents per share. Earnings, adjusted for non-recurring costs, came to 50 cents 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 71 cents per share.
The bank holding company posted revenue of $255.2 million in the period. Its revenue net of interest expense was $120.3 million, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $124.5 million.
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