Independent Bank Group: Q1 Earnings Snapshot

MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported a loss of $37.5 million in its first quarter.

The McKinney, Texas-based bank said it had a loss of 91 cents per share. Earnings, adjusted for non-recurring costs, came to $1.07 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 $1.10 per share.

The bank holding company posted revenue of $213.9 million in the period. Its revenue net of interest expense was $140.7 million, which also missed Street forecasts. Four analysts surveyed by Zacks expected $149.6 million.