Exhibit 99.1

Press Release
For Immediate Release

earningsreleaseimage1a22.jpg          
    


Independent Bank Group Reports
Third Quarter Financial Results

McKINNEY, Texas, October 22, 2018 /GlobeNewswire/ -- Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Bank, today announced net income of $35.7 million, or $1.17 per diluted share, for the quarter ended September 30, 2018 compared to $23.5 million, or $0.84 per diluted share, for the quarter ended September 30, 2017 and $29.6 million, or $1.02 per diluted share, for the quarter ended June 30, 2018.
For 2018, net income and earnings per share were positively impacted by the 14% reduction of the corporate U.S. statutory federal tax rate from 35% to 21% as a result of the enactment of the Tax Cuts and Jobs Act (TCJA), which became effective January 1, 2018.

Highlights

Adjusted (non-GAAP) net income was $36.6 million, or $1.20 per diluted share, compared to $32.2 million, or $1.11 per diluted share, for second quarter 2018
Net interest income increased 9.3% compared to second quarter 2018
Adjusted (non-GAAP) return on average assets and return on average equity increased to 1.45% and 9.34%, respectively
Continued strong credit quality metrics with nonperforming assets of 0.16%
Successfully completed the operational conversion of Integrity Bank

Independent Bank Group Chairman and CEO David R. Brooks said, “We are pleased to report another solid quarter of financial performance, with continued record earnings, return on assets and return on equity. We are particularly pleased to report a significant increase in net interest income even with the expected moderation in our loan growth.” Brooks continued, “Our credit metrics continue to be strong and asset quality remains the foundation of our company. We look forward to completing the Guaranty Bancorp transaction and a strong finish to the year."

Third Quarter 2018 Operating Results


Net Interest Income

Net interest income was $86.3 million for third quarter 2018 compared to $72.9 million for third quarter 2017 and $78.9 million for second quarter 2018. The increase in net interest income from the previous year was primarily due to increased average loan balances resulting from organic growth for the year over year period as well as loans acquired in the Integrity Bancshares acquisition in second quarter 2018. The net increase from the linked quarter was due to increased average loan balances with higher interest rates resulting from organic growth and a rising rate environment.
The average balance of total interest-earning assets grew by $1.2 billion and totaled $8.7 billion at September 30, 2018 compared to $7.5 billion at September 30, 2017 and grew $722.3 million compared to $8.0 billion at June 30, 2018. The increase from the prior year and the linked quarter was due primarily to organic growth as well as $718.9 million in earning assets acquired in the Integrity transaction.
The yield on interest-earning assets was 4.99% for third quarter 2018 compared to 4.47% for third quarter 2017 and 4.89% for second quarter 2018. The increase from the prior year and linked quarter was due primarily to higher rates on interest-earning assets due to continued increases in the Fed Funds rate during these periods. In addition, the increase from prior year was due to loans and taxable securities acquired in the Integrity transaction, which had higher effective interest rates.
The cost of interest bearing liabilities, including borrowings, was 1.47% for third quarter 2018 compared to 0.84% for third quarter 2017 and 1.27% for second quarter 2018. The increases from the prior year and linked quarter were primarily due to higher rates offered on our deposits, primarily commercial money market accounts and certificates of deposit, resulting both from market competition and general increases in interest rates on deposit products tied to Fed Funds rates. In addition, rate increases on short-term FHLB advances and junior subordinated debt impacted net interest income.
The net interest margin was 3.94% for third quarter 2018 compared to 3.85% for third quarter 2017 and 3.97% for second quarter 2018. The adjusted (non-GAAP) net interest margin, which excludes purchased loan accretion, was 3.89% for third quarter 2018

1

The following information was filed by Independent Bank Group, Inc. (IBTX) on Tuesday, October 23, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Independent Bank Group, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Independent Bank Group, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account