Independent Bank Group Inc (OQ:IBTX)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 7777 Henneman Way MCKINNEY TX 75070 |
| Tel: | 1-972-5629004 |
| Website: | https://www.independent-bank.com |
| IR: | See website |
| Key People | ||
| David R. Brooks Chairman of the Board, Chief Executive Officer | Michael B. Hobbs President, Chief Operating Officer | Daniel W. Brooks Vice Chairman of the Board |
| Paul B. Langdale Chief Financial Officer, Executive Vice President | John G. Turpen Executive Vice President, Chief Risk Officer | James P. Tippit Executive Vice President - Corporate Responsibility |
| Business Overview |
| Independent Bank Group, Inc. is a bank holding company. The Company, through its subsidiary, Independent Bank, a Texas state-chartered bank, doing business as Independent Financial, provides a range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include commercial real estate loans, interim construction loans, commercial loans to a diversified mix of small and midsized businesses, and loans to professionals, including medical practices. Its retail lending products include residential first and second mortgage loans and consumer installment loans, such as loans to purchase cars, boats and other recreational vehicles. It provides a full range of deposit products and services, including a variety of checking and savings accounts, debit cards, online banking, including online account opening, mobile banking, e-statements and bank-by-mail and direct deposit services. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Independent Bank Group Inc interest income increased 33% to $871.7M. Net interest income after loan loss provision decreased 18% to $452.8M. Net income applicable to common stockholders decreased 78% to $43.1M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % decrease of 21% to 2.74%, Net Interest Spread, Total - % decrease of 43% to 1.77%. |
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