MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported fourth-quarter net income of $54.2 million.
The bank, based in McKinney, Texas, said it had earnings of $1.26 per share. Earnings, adjusted for non-recurring costs, were $1.28 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The bank holding company posted revenue of $161 million in the period. Its revenue net of interest expense was $147.7 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $147.5 million.
For the year, the company reported profit of $224.8 million, or $5.21 per share. Revenue was reported as $586.8 million.
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