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Independent Bank Group: 3Q Earnings Snapshot

October 22, 2018

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.

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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

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