trending Market Intelligence /marketintelligence/en/news-insights/trending/1MYM44Ai8RBZfxXMQHpr5g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Independent Bank Group reports higher adjusted net income, lower NIM YOY

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Independent Bank Group reports higher adjusted net income, lower NIM YOY

McKinney, Texas-based Independent Bank Group Inc. reported third-quarter adjusted net income of $57.8 million, or $1.35 per share, compared to $36.6 million, or $1.20 per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus estimate for normalized EPS in the third quarter was $1.34.

Net income totaled $55.6 million, or $1.30 per share, compared to $35.7 million, or $1.17 per share, in the third quarter of 2018.

Independent Bank Group on Oct. 1 sold the trust business acquired in its acquisition of Guaranty Bancorp. As part of the transaction, the company transferred approximately $306 million in assets held in fiduciary or agency capacities for $4.7 million in proceeds and recognized a $1.4 million net gain.

Total deposits were $11.73 billion as of Sept. 30, compared to $7.74 billion at the end of the year-ago quarter.

Net interest margin at Sept. 30 was 3.84%, compared to 4.11% at June 30, and 3.94% at Sept. 30, 2018.

The bank's provision for loan losses was $5.2 million as of Sept. 30, compared to $4.7 million as of June 30 and $1.5 million in the year-ago quarter. Independent Bank Group said the provision expense was elevated in the third quarter because of two commercial credits that were charged off in excess of the specific reserves that were placed on them in previous periods. One of the credits is a loan that was partially reserved in the second quarter, while the other is an energy credit that has been in workout for several quarters.