Independent Bank Group (IBTX) Misses Q4 EPS by 4c

Independent Bank Group (NASDAQ: IBTX) reported Q4 EPS of $0.90, $0.04 worse than the analyst estimate of $0.94.

Highlights

Solid earnings with increases across major income related metrics

• Adjusted (non-GAAP) net income was $25.3 million, or $0.90 per diluted share, compared to $24.8 million, or $0.89 per diluted share, for third quarter 2017
• Adjusted (non-GAAP) return on average assets increased to 1.15%, from third quarter 2017 of 1.13%
• Improved adjusted (non-GAAP) efficiency ratio of 50.1%, compared to 51.2% for third quarter 2017
• Organic loan growth of 11.6% for the quarter (annualized) and 12.2% since year end 2016
• Announced acquisition of Integrity Bancshares, Inc. and its subsidiary, Integrity Bank, that is projected to be accretive to earnings per share with minimal dilution to tangible book value
• Completed a primary/secondary equity offering, raising $26.8 million (net of offering costs) and a $30 million subordinated debt offering, which enhanced the Company's capital position
• Sharpened footprint and focus on Colorado Front Range with the successful sale of nine Colorado branches transferring approximately $99 million in loans and $160 million in deposits

For earnings history and earnings-related data on Independent Bank Group (IBTX) click here.

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