MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported fourth-quarter net income of $50.2 million.
The bank, based in McKinney, Texas, said it had earnings of $1.17 per share. Earnings, adjusted for non-recurring costs, were $1.32 per share.
The bank holding company posted revenue of $182.6 million in the period. Its revenue net of interest expense was $146.3 million, which topped Street forecasts.
For the year, the company reported profit of $192.7 million, or $4.46 per share. Revenue was reported as $582.9 million.
Independent Bank Group shares have dropped nearly 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $52.19, a decrease of 1% in the last 12 months.