Independent Bank Group (NASDAQ:IBTX) has appointed Paul E. Washington to its Board of Directors, increasing the total to ten members. Washington, a seasoned business leader with over 30 years of experience, will serve on the Board's Audit and Strategic Planning Committees. His previous roles include Market Director for JLL, where he managed operations across three states and significantly increased revenue. Washington's experience in both commercial and public sectors is expected to enhance the bank's strategic initiatives, particularly in Colorado.
Independent Bank Group (NASDAQ:IBTX) will hold a conference call to discuss its fourth quarter 2020 results on February 2, 2021, at 8:30 am EST. The press release containing the results will be issued the day before, on February 1, 2021, at 6:00 pm EST. Participants can join by either webcast or phone. The company offers a variety of commercial banking products and services across Texas and parts of Colorado.
Independent Bank Group (NASDAQ:IBTX) reported a net income of $60.1 million or $1.39 per diluted share for Q3 2020, up from $55.6 million in Q3 2019. The company renewed its stock repurchase program with a limit of $150 million and declared a quarterly dividend of $0.30 per share. Noteworthy metrics include a 1.43% return on average assets and 14.91% organic deposit growth. Net interest income rose to $132.0 million, though noninterest income declined by $2.2 million compared to Q3 2019.
Independent Bank Group (NASDAQ:IBTX) will hold a conference call on October 27, 2020 at 8:30 am EST to discuss its third quarter results for 2020. A related press release will be available a day prior, on October 26, 2020, at 6:00 pm EST.
The call can be accessed via webcast or by phone at 1-877-407-0989, using meeting number 13710929. Conference materials will also be accessible on the company's Investor Relations page.
Independent Bank Group (NASDAQ: IBTX) has announced the pricing of its $130 million public offering of Fixed-to-Floating Rate Subordinated Notes due 2030. The Notes carry an initial fixed interest rate of 4.00% per annum, transitioning to a floating rate based on the Three-Month Term SOFR plus 388.5 basis points starting on September 15, 2025. Proceeds will be allocated for general corporate purposes, including capital expansion to support growth. The offering is set to fund on September 15, 2020, pending customary closing conditions.