Independent Bank Group: 2Q Earnings Snapshot
MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported second-quarter earnings of $29.6 million.
The McKinney, Texas-based bank said it had earnings of $1.02 per share. Earnings, adjusted for non-recurring costs, were $1.11 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The bank holding company posted revenue of $107.2 million in the period. Its revenue net of interest expense was $89 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $90.4 million.
Independent Bank Group shares have risen 2 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $69, a climb of 20 percent in the last 12 months.