Independent Bank Group, Inc. IBTX Income Statement

Independent bank group, inc. (IBTX)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Interest income:
Interest and fees on loans
147,105	153,963	154,664	157,431	145,531	106,798	103,104	91,614	83,275	82,094	79,325	75,194	53,744	52,055	51,194	50,418	49,910	46,154	42,145	41,625	39,580	41,824	35,633	33,881	24,123	22,003	21,140	20,448	20,759	19,596	17,892	17,107	14,899
Interest on taxable securities
5,164	5,223	5,374	5,277	5,450	3,763	3,840	3,501	2,903	2,623	2,539	2,303	764	614	573	764	730	615	393	551	609	616	711	777	699	517	358	308	333	302	288	313	385
Interest on nontaxable securities
2,065	2,056	2,074	2,127	2,225	1,105	1,103	1,179	1,193	1,220	1,124	992	541	479	394	444	451	459	461	449	414	401	404	367	257	259	258	258	249	224	205	200	199
Interest on interest-bearing deposits and other
2,071	3,144	3,195	2,828	2,370	1,139	1,242	788	743	1,483	1,684	1,394	890	756	579	315	373	186	131	122	133	111	192	53	83	68	85	91	80	92	69	96	23
Total interest income
156,405	164,386	165,307	167,663	155,576	112,805	109,289	97,082	88,114	87,420	84,672	79,883	55,939	53,904	52,740	51,941	51,464	47,414	43,130	42,747	40,736	42,952	36,940	35,078	25,162	22,847	21,841	21,105	21,421	20,214	18,454	17,716	15,506
Interest expense:
Interest on deposits
28,071	30,834	33,386	31,322	27,842	20,761	17,380	12,827	9,799	8,475	8,033	6,981	5,029	4,452	4,049	3,923	3,651	3,230	3,067	3,018	2,709	2,663	2,530	2,437	1,907	1,796	1,717	1,733	1,728	1,980	2,070	2,167	2,134
Interest on FHLB advances
1,626	1,849	2,730	2,984	2,610	2,410	3,121	2,847	1,886	1,587	1,749	1,351	1,171	1,057	1,063	998	1,001	834	773	718	752	886	975	965	852	828	819	828	828	687	609	595	492
Interest on other borrowings and repurchase agreements
2,795	-	3,036	2,923	2,715	-	2,100	2,097	2,102	-	1,716	1,716	1,705	1,705	1,733	987	1,003	1,060	1,064	1,096	1,069	1,088	871	136	135	135	253	558	515	606	492	524	450
Interest on junior subordinated debentures
672	718	762	791	757	427	420	402	360	343	317	335	167	164	158	150	149	139	137	135	128	140	133	136	133	135	137	136	135	150	128	125	128
Total interest expense
33,164	36,317	39,914	38,020	33,924	25,697	23,021	18,173	14,147	12,166	11,815	10,383	8,072	7,378	7,003	6,058	5,804	5,263	5,041	4,967	4,658	4,777	4,509	3,674	3,027	2,894	2,926	3,255	3,206	3,423	3,299	3,411	3,204
Net interest income
123,241	128,069	125,393	129,643	121,652	87,108	86,268	78,909	73,967	75,254	72,857	69,500	47,867	46,526	45,737	45,883	45,660	42,151	38,089	37,780	36,078	38,175	32,431	31,404	22,135	19,953	18,915	17,850	18,215	16,791	15,155	14,305	12,302
Provision for loan losses
8,381	1,609	5,233	4,739	3,224	2,910	1,525	2,730	2,695	1,897	1,873	2,472	2,023	2,197	2,123	2,123	2,997	1,970	3,932	1,659	1,670	1,751	976	1,379	1,253	883	830	1,079	1,030	929	1,013	667	575
Net interest income after provision for loan losses
114,860	126,460	120,160	124,904	118,428	84,198	84,743	76,179	71,272	73,357	70,984	67,028	45,844	44,329	43,614	43,760	42,663	40,181	34,157	36,121	34,408	36,424	31,455	30,025	20,882	19,070	18,085	16,771	17,185	15,862	14,142	13,638	11,727
Noninterest income:
Service charges on deposit accounts
5,542	6,326	6,100	6,164	5,910	3,617	3,589	3,533	3,485	3,591	3,677	3,760	1,927	1,935	1,840	1,752	1,695	1,857	1,777	1,679	1,585	1,679	1,541	1,453	1,211	1,244	1,248	1,210	1,139	913	826	838	809
Investment management and trust
1,986	2,092	2,497	2,522	2,219	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking revenue
2,525	3,842	4,824	3,702	3,093	3,378	5,111	3,609	3,414	2,900	4,569	5,019	1,267	1,719	1,922	2,021	1,376	1,187	1,353	1,429	1,300	1,176	1,080	967	730	623	957	1,097	1,066	1,151	1,108	894	963
Loss on sale of loans
-42	-	6,779	-	0	-	0	-	-	-	351	-	-	-	0	-	-	-	116	-	-	-	1,078	-	-	-	0	-	-	-	-	-	-
Gain on sale of branches
-	-	1,549	-	-	-	0	-	-	-	-127	-	-	-	-43	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	51	-	-
Gain on sale of other real estate
25	24	539	312	0	56	95	58	60	-124	0	-36	0	0	4	10	43	70	41	49	130	12	20	0	39	1,334	0	148	25	1,210	-31	9	-53
Gain on sale of securities available for sale
356	10	0	20	245	-232	-115	-10	-224	72	0	52	0	-	0	4	-	-	0	90	-	-	0	0	-	-	-	-	-	0	0	0	-3
(Loss) gain on sale and disposal of premises and equipment
-63	0	-315	-279	9	0	220	-89	-8	-6	-21	1	5	0	-9	3	38	16	-374	0	0	-	-22	-	-	-22	5	-2	1	3	-1	-346	1
Increase in cash surrender value of BOLI
1,341	1,390	1,402	1,374	1,359	842	831	758	739	789	778	782	399	411	402	270	265	271	268	268	270	282	281	260	149	108	80	79	81	82	82	81	82
Other
2,841	3,226	3,949	2,384	3,589	2,226	3,018	2,274	1,989	2,303	2,903	1,417	985	1,159	816	869	1,053	809	618	594	681	450	232	439	205	125	161	200	114	210	52	158	92
Total noninterest income
14,511	18,229	27,324	16,199	16,424	9,887	12,749	10,133	9,455	13,579	12,130	10,995	4,583	5,224	4,932	4,929	4,470	4,254	3,799	4,109	3,966	3,961	4,210	3,119	2,334	3,412	2,451	2,732	2,426	3,556	2,087	1,634	1,891
Noninterest expense:
Salaries and employee benefits
38,660	42,126	37,645	40,532	42,380	29,625	30,114	26,790	25,168	26,131	25,684	27,089	16,837	15,118	15,303	19,567	16,774	16,549	14,918	14,650	14,424	14,540	12,551	16,112	9,134	8,148	7,976	7,964	7,748	7,659	6,653	6,417	5,840
Occupancy
10,037	9,676	9,402	9,585	8,991	6,491	6,613	6,018	5,664	5,680	6,380	6,147	3,872	3,982	4,038	4,041	4,040	4,004	4,117	4,027	3,910	4,050	3,435	3,227	2,538	2,480	2,117	2,298	2,147	2,002	1,821	1,824	1,670
Communications and technology
5,552	3,120	4,470	4,449	5,064	2,893	2,989	2,467	2,405	2,148	2,546	2,615	1,288	1,177	1,190	1,203	1,182	1,244	786	666	688	660	472	452	496	378	357	316	296	347	292	292	267
FDIC assessment
1,752	994	-2,139	962	1,248	1,093	760	712	741	1,155	1,077	1,201	878	1,171	1,123	869	726	706	541	493	519	551	426	516	304	259	253	-258	246	176	211	214	199
Advertising and public relations
611	585	467	812	663	607	583	332	385	458	380	317	297	332	229	251	295	126	313	253	346	217	204	180	234	64	216	188	216	104	183	185	154
Communications
-	-	1,288	1,327	-	809	810	793	941	762	771	852	475	468	563	550	535	576	550	554	539	567	498	402	320	295	412	338	340	349	342	335	308
Other real estate owned expenses, net
374	116	152	79	71	47	62	119	90	81	61	125	37	25	145	2	33	-15	88	37	59	-26	122	57	79	117	111	91	166	15	64	68	73
Operations of IBG Adriatica, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	23	206	228	175	197	91	213	228	300
Impairment of other real estate
0	377	0	988	436	0	0	0	85	375	917	120	0	0	51	0	55	0	10	25	0	-	22	0	-	74	12	15	448	-	0	56	-
Amortization of other intangible assets
3,176	3,175	3,235	3,235	3,235	1,496	1,519	1,393	1,331	1,328	1,409	1,410	492	492	492	492	488	453	363	367	372	422	361	299	199	176	175	176	176	176	169	169	142
Professional fees
4,214	3,165	2,057	1,544	1,170	1,129	1,175	1,133	1,119	1,352	1,273	1,166	773	858	717	977	660	1,183	841	677	490	775	828	596	368	380	353	293	272	352	304	205	243
Acquisition expense, including legal
549	5,270	9,465	3,723	14,987	486	1,682	3,444	545	4,651	2,428	5,673	146	785	3	90	639	627	293	28	472	998	629	1,523	476	1,354	474	-9	137	590	206	389	216
Other
9,443	9,209	10,906	10,742	8,350	7,172	6,348	5,957	6,484	5,432	4,978	4,613	2,933	2,953	3,033	2,981	3,092	3,074	3,010	2,678	2,567	2,200	2,614	1,979	1,905	1,783	1,966	1,797	1,534	1,430	1,278	1,219	1,082
Total noninterest expense
74,368	80,343	76,948	77,978	86,595	51,848	52,655	49,158	44,958	49,553	47,904	51,328	28,028	27,361	26,887	31,023	28,519	28,527	25,830	24,455	24,386	24,931	22,162	25,343	16,076	15,714	14,650	13,384	13,923	13,329	11,736	11,601	10,494
Income before taxes
55,003	64,346	70,536	63,125	48,257	42,237	44,837	37,154	35,769	37,383	35,210	26,695	22,399	22,192	21,659	17,666	18,614	15,908	12,126	15,775	13,988	15,454	13,503	7,801	7,140	6,768	5,886	6,119	5,688	-	4,493	3,671	-
Income tax expense
10,836	14,110	14,903	13,389	11,126	8,273	9,141	7,519	6,805	18,190	11,696	8,561	6,728	7,417	7,155	5,857	6,162	5,347	3,924	5,204	4,536	5,356	4,543	2,682	2,339	2,489	1,927	245	0	-	0	0	-
Net income
44,167	50,236	55,633	49,736	37,131	33,964	35,696	29,635	28,964	19,193	23,514	18,134	15,671	14,775	14,504	11,809	12,452	10,561	8,202	10,571	9,452	10,098	8,960	5,119	4,801	4,279	3,959	5,874	5,688	6,089	4,493	3,671	3,124
Basic earnings per share (usd per share)
1.03	1.16	1.30	1.15	0.85	1.12	1.17	1.02	1.02	0.65	0.85	0.65	0.83	0.80	0.78	0.64	0.67	0.59	0.48	0.61	0.55	0.62	0.54	0.32	0.38	0.27	0.33	0.49	0.69	0.75	0.57	0.47	0.44
Diluted earnings per share (usd per share)
1.03	1.16	1.30	1.15	0.85	1.12	1.17	1.02	1.02	0.66	0.84	0.65	0.82	0.79	0.78	0.64	0.67	0.58	0.47	0.61	0.55	0.61	0.54	0.32	0.38	0.27	0.33	0.49	0.68	0.76	0.57	0.47	0.43