MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported fourth-quarter earnings of $14.9 million.
The bank, based in McKinney, Texas, said it had earnings of 36 cents per share. Earnings, adjusted for non-recurring costs, came to 62 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The bank holding company posted revenue of $243.1 million in the period. Its revenue net of interest expense was $116.9 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $122.2 million.
For the year, the company reported profit of $43.2 million, or $1.04 per share. Revenue was reported as $508 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBTX at https://www.zacks.com/ap/IBTX