Independent Bank Group, Inc - Common Stock (IBTX)

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $20.4 million, or $0.49 per diluted share, for the quarter ended September 30, 2024, compared to $32.8 million, or $0.79 per diluted share for the quarter ended September 30, 2023 and net loss of $493,455 or ($11.93) per diluted share for the quarter ended June 30, 2024. Adjusted (non-GAAP) net income for the quarter ended September 30, 2024 was $20.6 million, or $0.50 per diluted share, compared to $32.6 million, or $0.79 per diluted share for the quarter ended September 30, 2023 and $24.9 million, or $0.60 per diluted share for the quarter ended June 30, 2024.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net loss of $493.5 million, or $11.89 per diluted share, for the quarter ended June 30, 2024, which was significantly impacted by $518.0 million of goodwill impairment recognized as a result of the Company's stock price trading below book value and the announced merger with SouthState Corporation. Goodwill impairment is a non-cash charge and has no impact on cash flows, liquidity, (non-GAAP) tangible equity, or regulatory capital. Excluding the goodwill impairment charge and other non-recurring items, adjusted (non-GAAP) net income for the quarter ended June 30, 2024 was $24.9 million, or $0.60 per diluted share.

Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Independent Bank Group, Inc. (NasdaqGS: IBTX) to SouthState Corporation (NYSE: SSB). Under the terms of the proposed transaction, shareholders of Independent will receive 0.60 shares of SouthState for each share of Independent that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Independent Bank Group, Inc. (NASDAQ: IBTX) to SouthState Corporation for 0.60 shares of SouthState common stock for each outstanding share of Independent Bank common stock is fair to Independent Bank shareholders.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $24.2 million, or $0.58 per diluted share, for the quarter ended March 31, 2024, compared to $14.9 million, or $0.36 per diluted share for the quarter ended December 31, 2023. Adjusted (non-GAAP) net income for the quarter ended March 31, 2024 was $26.0 million, or $0.63 per diluted share, compared to $25.5 million, or $0.62 per diluted share for the quarter ended December 31, 2023.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss first quarter 2024 results on Tuesday, April 23, 2024, at 8:30 am ET. The related press release will be issued Monday, April 22, 2024, after 4:00 pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $14.9 million, or $0.36 per diluted share, for the quarter ended December 31, 2023, compared to $32.8 million, or $0.79 per diluted share for the quarter ended September 30, 2023. Adjusted net income for the quarter ended December 31, 2023 was $25.5 million, or $0.62 per diluted share, compared to $32.6 million, or $0.79 per diluted share for the quarter ended September 30, 2023.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss fourth quarter and full year 2023 results on Tuesday, January 23, 2024 at 8:30 am ET. The related press release will be issued Monday, January 22, 2024, at 5:00pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $32.8 million, or $0.79 per diluted share, for the quarter ended September 30, 2023, compared to net income of $52.4 million, or $1.27 per diluted share for the quarter ended September 30, 2022 and $33.1 million, or $0.80 per diluted share for the quarter ended June 30, 2023. Adjusted net income for the quarter ended September 30, 2023 was $32.6 million, or $0.79 per diluted share, compared to $54.9 million, or $1.33 per diluted share for the quarter ended September 30, 2022 and $33.7 million, or $0.82 per diluted share for the quarter ended June 30, 2023.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss third quarter 2023 results on Tuesday, October 24, 2023 at 8:30 am ET. The related press release will be issued Monday, October 23, 2023, at 5:00pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $33.1 million, or $0.80 per diluted share, for the quarter ended June 30, 2023, compared to net income $52.4 million, or $1.25 per diluted share for the quarter ended June 30, 2022 and to net loss of $37.5 million, or $0.91 per diluted share for the quarter ended March 31, 2023. Adjusted net income for the quarter ended June 30, 2023 was $33.7 million, or $0.82 per diluted share, compared to $53.3 million, or $1.27 per diluted share for the quarter ended June 30, 2022 and $44.1 million, or $1.07 per diluted share for the quarter ended March 31, 2023.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss second quarter 2023 results on Tuesday, July 25, 2023 at 8:30 am ET. The related press release will be issued Monday, July 24, 2023, at 5:00pm ET.

Regional banks are trading at deep values, and insiders are buying. Rayonier gets an upgrade, and insiders buy. ADT falls on outlook; insiders buy.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net loss of $37.5 million, or $0.91 per diluted share, for the quarter ended March 31, 2023, which includes the impact of the $100 million legal settlement disclosed on February 27, 2023, that, pending court approval, will resolve all current and potential future claims relating to an inherited receivership litigation. Excluding the legal settlement as well as other non-recurring items, adjusted net income for the quarter ended March 31, 2023, was $44.1 million, or $1.07 per diluted share.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss first quarter 2023 results on Tuesday, April 25, 2023 at 8:30 am ET. The related press release will be issued Monday, April 24, 2023, at 5:00pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $40.8 million, or $0.99 per diluted share, for the quarter ended December 31, 2022, compared to $54.2 million, or $1.26 per diluted share, for the quarter ended December 31, 2021 and $52.4 million, or $1.27 per diluted share, for the quarter ended September 30, 2022. Adjusted net income for the quarter ended December 31, 2022 was $49.4 million, or $1.20 per diluted share, compared to $55.0 million, or $1.28 per diluted share for the quarter ended December 31, 2021 and $54.9 million, or $1.33 per diluted share for the quarter ended September 30, 2022.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss fourth quarter 2022 results on Tuesday, January 24, 2023 at 8:30 am ET. The related press release will be issued Monday, January 23, 2023, at 5:00pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $52.4 million, or $1.27 per diluted share, for the quarter ended September 30, 2022, compared to $52.3 million, or $1.21 per diluted share, for the quarter ended September 30, 2021 and $52.4 million, or $1.25 per diluted share, for the quarter ended June 30, 2022. Adjusted net income for the quarter ended September 30, 2022 was $54.9 million, or $1.33 per diluted share, compared to $52.6 million, or $1.22 per diluted share for the quarter ended September 30, 2021 and $53.3 million, or $1.27 per diluted share for the quarter ended June 30, 2022.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, will hold a conference call to discuss third quarter 2022 results on Tuesday, October 25, 2022, at 8:30 am ET. The related press release will be issued Monday, October 24, 2022, at 5:00 pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Financial, today announced the appointment of Dan Strodel as Executive Vice President and Chief Banking Officer. In his new role, Mr. Strodel will be responsible for key revenue-generating lines of business including Commercial, Middle Market and Specialty Banking, Treasury Solutions, SBA, Mortgage and Private Capital Management.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced the appointment of Paul Langdale as Chief Financial Officer. Mr. Langdale is replacing Michelle Hickox, who has served as Chief Financial Officer of Independent Bank Group, Inc., and its subsidiary Independent Bank since 2012. Ms. Hickox will remain employed in an advisory capacity to facilitate the transition until October 1, 2022.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $52.4 million, or $1.25 per diluted share, for the quarter ended June 30, 2022, compared to $58.2 million, or $1.35 per diluted share, for the quarter ended June 30, 2021 and $50.7 million, or $1.18 per diluted share, for the quarter ended March 31, 2022.

Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Bank, will hold a conference call to discuss second quarter 2022 results on Tuesday, July 26, 2022, at 8:30 am ET. The related press release will be issued Monday, July 25, 2022, at 5:00 pm ET.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced changes to its operations and technology leadership. James C. White will retire from the company and from his role as EVP, Chief Operations Officer effective July 1, 2022. In addition, Bill Wade has been named EVP, Chief Information Officer effective immediately, and Daniel App has been named as EVP, Head of Operations effective May 9, 2022.

Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $50.7 million, or $1.18 per diluted share, for the quarter ended March 31, 2022, compared to $60.0 million, or $1.39 per diluted share, for the quarter ended March 31, 2021 and $54.2 million, or $1.26 per diluted share, for the quarter ended December 31, 2021.