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EX - 99.1 2 exhibit991q12021.htm EX - 99.1 INDEPENDENT BANK GROUP Exhibit 99.1 Press Release For Immediate Release INDEPENDENT BANK GROUP , INC . REPORTS FIRST QUARTER FINANCIAL RESULTS AND DECLARES AND INCREASES QUARTERLY DIVIDEND April 26 , 2021 MCKINNEY , Texas , April 26 , 2021 -- Independent Bank Group , Inc. ( NASDAQ : IBTX ) , the holding company for Independent Bank , today announced net income of $ 60.0 million , or $ 1.39 per diluted share , for the quarter ended March 31 , 2021 , compared to $ 44.2 million , or $ 1.03 per diluted share , for the quarter ended March 31 , 2020 and $ 58.3 million , or $ 1.35 per diluted share , for the quarter ended December 31 , 2020 . The Company also announced that its Board of Directors declared a quarterly cash dividend in the amount of $ 0.32 per share of common stock . The dividend will be payable on May 20 , 2021 to stockholders of record as of the close of business on May 6 , 2021 . Highlights • Continued solid financial performance in the first quarter : • • о о Net income of $ 60.0 million , or $ 1.39 per diluted share and adjusted ( non - GAAP ) net income of $ 60.1 million , or $ 1.39 per diluted share Return on average assets of 1.37 % ° Return on average equity of 9.78 % , and return on ( non - GAAP ) tangible equity of 17.29 % Sustained organic deposit growth of 11.4 % annualized for the quarter Strong capital levels with an estimated total capital ratio of 14.13 % , leverage ratio of 9.01 % , and ( non - GAAP ) tangible common equity ( TCE ) ratio of 8.30 % Increased dividend based on strong financial performance and capital position " These strong first quarter results reflect disciplined execution across our great markets , " said Independent Bank Group Chairman and CEO David R. Brooks . “ Our teams in Texas and Colorado have been unwavering in their focus on serving our customers and communities throughout the pandemic , and our company's consistent profitability over the past year is a testament to the strength of our diversified community banking model . With healthy credit metrics , strong capital levels , and a substantial liquidity position , our company is well - positioned to capitalize on significant growth opportunities as the economic recovery accelerates across our footprint . " 1