Independent Bank Group: 3Q Earnings Snapshot
MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported third-quarter net income of $35.7 million.
The bank, based in McKinney, Texas, said it had earnings of $1.17 per share. Earnings, adjusted for non-recurring costs, came to $1.20 per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of $1.20 per share.
The bank holding company posted revenue of $122 million in the period. Its revenue net of interest expense was $99 million, which beat Street forecasts. Three analysts surveyed by Zacks expected $96.5 million.
Independent Bank Group shares have decreased 16 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $56.50, a decline of 7.5 percent in the last 12 months.