Independent Bank Group: Q2 Earnings Snapshot

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MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported second-quarter profit of $58.2 million.

The McKinney, Texas-based bank said it had earnings of $1.35 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The bank holding company posted revenue of $161.7 million in the period. Its revenue net of interest expense was $145.2 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $149.3 million.

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Independent Bank Group shares have climbed slightly more than 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $67.70, a climb of 58% in the last 12 months.


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