MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported third-quarter profit of $55.6 million.

The bank, based in McKinney, Texas, said it had earnings of $1.30 per share. Earnings, adjusted for non-recurring costs, came to $1.35 per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.

The bank holding company posted revenue of $192.6 million in the period. Its revenue net of interest expense was $152.7 million, exceeding Street forecasts. Three analysts surveyed by Zacks expected $141.6 million.

Independent Bank Group shares have increased 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $53.53, a drop of 10% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on IBTX at

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