MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported first-quarter profit of $60 million.
The McKinney-based bank said it had earnings of $1.39 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The bank holding company posted revenue of $166.4 million in the period. Its revenue net of interest expense was $148.3 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $150.6 million.
Independent Bank Group shares have risen 24% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.44, nearly tripling 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
