Texas

Independent Banking Group: fourth quarter earnings report

McKinney, TX (AP) _ Independent Bank Group Inc. (IBTX) reported fourth-quarter earnings of $40.8 million on Monday.

The McKinney, Texas-based bank said it posted a profit of 99 cents per share. Earnings adjusted for non-recurring expenses were $1.20 per share.

The results fell short of Wall Street’s expectations. Four analysts polled by Zacks Investment Research averaged earnings of $1.28 per share.

The bank holding company’s revenue for the reporting period amounted to $201 million. Its revenue, net of interest expense, was $153 million, also falling short of Street’s forecasts. Four analysts polled by Zacks expected $161.4 million.

For the year, the company reported earnings of $196.3 million, or $4.70 per share. Revenue was $609.7 million.

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This story was created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access the Zacks IBTX stock report at https://www.zacks.com/ap/IBTX.

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