MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported fourth-quarter earnings of $40.8 million.
The bank, based in McKinney, Texas, said it had earnings of 99 cents per share. Earnings, adjusted for non-recurring costs, came to $1.20 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The bank holding company posted revenue of $201 million in the period. Its revenue net of interest expense was $153 million, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $161.4 million.
For the year, the company reported profit of $196.3 million, or $4.70 per share. Revenue was reported as $609.7 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
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