Independent Bank Stock Price, News & Analysis

Independent Bank Group reported a net loss of $37.5 million, or $0.91 per diluted share for Q1 2023, primarily impacted by a $100 million legal settlement. Adjusted net income stood at $44.1 million or $1.07 per diluted share excluding non-recurring items. The Board declared a quarterly cash dividend of $0.38 per share, payable on May 18, 2023. The bank maintained strong liquidity with nonperforming assets at 0.32% of total assets and net charge-offs at 0.04% annualized. Capital ratios remain robust, with a total capital ratio of 11.85%. Total loans held for investment were stable at $13.6 billion, and total deposits decreased to $14.1 billion.

The Independent Bank Group (IBTX) will hold a conference call on April 25, 2023, at 8:30 AM ET to discuss first quarter 2023 results. A related press release will be issued on April 24, 2023, at 5:00 PM ET. Investors can access the call via the provided webcast link or by calling 1-877-407-0989 (Meeting Number: 13737850). Conference materials will also be available on the Investor Relations page of the company's website. IBTX offers a diverse range of commercial banking products and services through its subsidiary, Independent Financial, focusing on the needs of businesses and individuals in Texas and the Colorado Front Range.

Independent Bank Group, Inc. (NASDAQ: IBTX) reported a net income of $40.8 million, or $0.99 per diluted share, for Q4 2022, down from $54.2 million and $1.26 per diluted share in Q4 2021. The for the full year 2022, net income was $196.3 million, or $4.70 per diluted share, compared to $224.8 million in 2021. The Board declared a quarterly cash dividend of $0.38 per share and authorized a $125 million stock repurchase program. Key highlights include 9.6% annualized loan growth in Q4 and improved credit metrics, with nonperforming assets at 0.35% of total assets.

Independent Bank Group (NASDAQ: IBTX) will host a conference call on January 24, 2023, at 8:30 am ET to discuss its fourth quarter 2022 results. The press release detailing these results will be released on January 23, 2023, at 5:00 pm ET. Investors can access the call via the provided webcast link or by phone. Independent Bank Group operates through its subsidiary, Independent Financial, offering a variety of commercial banking products primarily in Texas and Colorado regions.

Independent Bank Group, Inc. (NASDAQ: IBTX) reported a net income of $52.4 million, or $1.27 per diluted share for Q3 2022, slightly up from $52.3 million in Q3 2021. Adjusted net income rose to $54.9 million, or $1.33 per diluted share, reflecting strong loan growth of 10.0% annualized. The net interest margin increased to 3.64%. A quarterly cash dividend of $0.38 per share was declared, payable on November 17, 2022. However, total noninterest income fell by $3.4 million year-over-year, primarily due to reduced mortgage banking revenue.

Independent Bank Group, Inc. (NASDAQ: IBTX) will host a conference call to discuss its third quarter 2022 results on October 25, 2022, at 8:30 am ET. Interested parties can access the call via a webcast link or by dialing 1-877-407-0989 with meeting number 13732987. A press release detailing the results will be available on October 24, 2022, at 5:00 pm ET. Independent Bank Group offers a variety of commercial banking services throughout Texas and Colorado, operating in regions such as Dallas/Ft. Worth, Austin, and Houston.

Independent Bank Group (NASDAQ: IBTX) has appointed Dan Strodel as the new Executive Vice President and Chief Banking Officer. Strodel will oversee key revenue-generating divisions including Commercial and Specialty Banking, Treasury Solutions, and Mortgage. He has over 39 years of experience, joining the bank in 2012 as Dallas Market President. His extensive background in commercial real estate and private banking positions him to drive growth. President Michael Hobbs expressed confidence in Strodel's leadership as the company aims for future expansion.

Independent Bank Group, Inc. (NASDAQ: IBTX) has appointed Paul Langdale as the new Chief Financial Officer, succeeding Michelle Hickox, who held the position since 2012. Hickox will assist with the transition until October 1, 2022. Langdale joined the company in 2018 and previously served as Executive Vice President of Corporate Development & Strategy. Chairman & CEO David Brooks expressed confidence in Langdale's capabilities, citing his strong finance background and strategic insight as essential for the company’s growth and value creation for shareholders.