Independent Bank Group (IBTX) Tops Q3 EPS by 1c, Beats on Revenues

Independent Bank Group (NASDAQ: IBTX) reported Q3 EPS of $0.89, $0.01 better than the analyst estimate of $0.88. Revenue for the quarter came in at $84.67 million versus the consensus estimate of $83.18 million.

Highlights

• Adjusted (non-GAAP) net income was $24.8 million, or $0.89 per diluted share, compared to $22.7 million, or $0.82 per diluted share, for second quarter 2017, representing 9.2% increase
• Increase in adjusted (non-GAAP) return on average assets to 1.13%, up from second quarter 2017 of 1.08%
• Improved adjusted (non-GAAP) efficiency ratio of 51.2%, compared to 53.2% for second quarter 2017
• Organic loan growth annualized for the quarter of 6.9% despite the impact of Hurricane Harvey on the Houston market
• Credit quality metrics continue to be strong

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

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