Independent Bank Group (IBTX) Declares $0.38 Quarterly Dividend; 2.8% Yield

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Go back to Independent Bank Group (IBTX) Declares $0.38 Quarterly Dividend; 2.8% Yield

Independent Bank Group, Inc. Reports Second Quarter Financial Results and Declares Quarterly Dividend

July 24, 2024 5:00 PM EDT

MCKINNEY, Texas--(BUSINESS WIRE)-- Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net loss of $493.5 million, or $11.89 per diluted share, for the quarter ended June 30, 2024, which was significantly impacted by $518.0 million of goodwill impairment recognized as a result of the Company's stock price trading below book value and the announced merger with SouthState Corporation. Goodwill impairment is a non-cash charge and has no impact on cash flows, liquidity, (non-GAAP) tangible equity, or regulatory capital. Excluding the goodwill impairment charge and other non-recurring items, adjusted (non-GAAP) net income for the quarter ended June 30, 2024 was $24.9... More