Earnings release
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EX - 99.1 2 exhibit991q22021.htm EX - 99.1 INDEPENDENT BANK GROUP Exhibit 99.1 Press Release For Immediate Release INDEPENDENT BANK GROUP , INC . REPORTS SECOND QUARTER FINANCIAL RESULTS AND INCREASES QUARTERLY DIVIDEND July 26 , 2021 MCKINNEY , Texas , July 26 , 2021 -- Independent Bank Group , Inc. ( NASDAQ : IBTX ) , the holding company for Independent Bank , today announced net income of $ 58.2 million , or $ 1.35 per diluted share , for the quarter ended June 30 , 2021 , compared to $ 38.7 million , or $ 0.90 per diluted share , for the quarter ended June 30 , 2020 and $ 60.0 million , or $ 1.39 per diluted share , for the quarter ended March 31 , 2021 . The Company also announced that its Board of Directors increased the quarterly cash dividend to $ 0.34 per share of common stock . The dividend will be payable on August 19 , 2021 to stockholders of record as of the close of business on August 5 , 2021 . Highlights • • • • Solid organic loan growth of 12.4 % annualized for the quarter , ( excluding warehouse and PPP ) Improved credit metrics with nonperforming assets of 0.29 % of total assets Strong capital levels with an estimated total capital ratio of 14.23 % , leverage ratio of 9.03 % , and ( non - GAAP ) tangible common equity ( TCE ) ratio of 8.45 % Announced redemption of $ 40 million in subordinated debentures in July 2021 Grew book value by $ 1.17 per share to $ 58.89 and tangible book value per share by $ 1.24 to $ 33.98 " These second quarter results reflect the accelerating economic recovery across our footprint , with our core loan book growing 12.4 % annualized for the quarter as demand rebounded in both Texas and Colorado , " said Independent Bank Group Chairman & CEO David R. Brooks . " In addition to broad- based loan growth , we reported healthy earnings , grew tangible book value per share , and maintained resilient credit quality metrics . As we enter the second half of 2021 and look ahead , we will continue to leverage our position of strength in disciplined pursuit of growth opportunities across our great markets . " 1