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PE firms sell stakes in Texas-based Independent Bank Group

Trident IV Depository Holdings LLC and Trident IV PF Depository Holdings LLC have exited their Independent Bank Group Inc. stakes.

In addition to the Trident funds' separate, private sales, LEP Carlile Holdings LLC has lowered its interest in the McKinney, Texas-based company to just 3.9%.

Their holdings had been tied to the company's acquisition of Carlile Bancshares Inc., and the lock-up agreements were set to expire April 1. Independent Bank consented to the trades; CEO David Brooks said in a press release that the company was "always aware that these private equity firms, which originally invested in Carlile Bancshares in 2012, would pursue a liquidity event ... as the logical progression of the Carlile acquisition."

Christopher Doody, an Independent Bank board member representing the Trident funds, has resigned as director.