Independent Bank Group: Q2 Earnings Snapshot

Independent Bank Group: Q2 Earnings Snapshot

MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported second-quarter net income of $52.4 million.

The McKinney, Texas-based bank said it had earnings of $1.25 per share. Earnings, adjusted for non-recurring costs, were $1.27 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.

The bank holding company posted revenue of $164.6 million in the period. Its revenue net of interest expense was $151.9 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $150.8 million.

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