Independent Bank Group, Inc. IBTX Income Statement

Independent bank group, inc. (IBTX)

Income statement / TTM

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
613,163	611,589	564,424	512,864	447,047	384,791	360,087	336,308	319,888	290,357	260,318	232,187	207,411	203,577	197,676	188,627	179,834	169,504	165,174	158,662	150,918	135,461	115,640	101,147	87,714	84,350	81,943	78,695	75,354	69,494	0	0	0
Interest on taxable securities
21,038	21,324	19,864	18,330	16,554	14,007	12,867	11,566	10,368	8,229	6,220	4,254	2,715	2,681	2,682	2,502	2,289	2,168	2,169	2,487	2,713	2,803	2,704	2,351	1,882	1,516	1,301	1,231	1,236	1,288	0	0	0
Interest on nontaxable securities
8,322	8,482	7,531	6,560	5,612	4,580	4,695	4,716	4,529	3,877	3,136	2,406	1,858	1,768	1,748	1,815	1,820	1,783	1,725	1,668	1,586	1,429	1,287	1,141	1,032	1,024	989	936	878	828	0	0	0
Interest on interest-bearing deposits and other
11,238	11,537	9,532	7,579	5,539	3,912	4,256	4,698	5,304	5,451	4,724	3,619	2,540	2,023	1,453	1,005	812	572	497	558	489	439	396	289	327	324	348	332	337	280	0	0	0
Total interest income
653,761	652,932	601,351	545,333	474,752	407,290	381,905	357,288	340,089	307,914	274,398	242,466	214,524	210,049	203,559	193,949	184,755	174,027	169,565	163,375	155,706	140,132	120,027	104,928	90,955	87,214	84,581	81,194	77,805	71,890	0	0	0
Interest expense:
Interest on deposits
123,613	123,384	113,311	97,305	78,810	60,767	48,481	39,134	33,288	28,518	24,495	20,511	17,453	16,075	14,853	13,871	12,966	12,024	11,457	10,920	10,339	9,537	8,670	7,857	7,153	6,974	7,158	7,511	7,945	8,351	0	0	0
Interest on FHLB advances
9,189	10,173	10,734	11,125	10,988	10,264	9,441	8,069	6,573	5,858	5,328	4,642	4,289	4,119	3,896	3,606	3,326	3,077	3,129	3,331	3,578	3,678	3,620	3,464	3,327	3,303	3,162	2,952	2,719	2,383	0	0	0
Interest on other borrowings and repurchase agreements
0	-	10,773	9,837	0	-	8,060	7,676	7,295	-	6,842	6,859	6,130	5,428	4,783	4,114	4,223	4,289	4,317	4,124	3,164	2,230	1,277	659	1,081	1,461	1,932	2,171	2,137	2,072	0	0	0
Interest on junior subordinated debentures
2,943	3,028	2,737	2,395	2,006	1,609	1,525	1,422	1,355	1,162	983	824	639	621	596	575	560	539	540	536	537	542	537	541	541	543	558	549	538	531	0	0	0
Total interest expense
147,415	148,175	137,555	120,662	100,815	81,038	67,507	56,301	48,511	42,436	37,648	32,836	28,511	26,243	24,128	22,166	21,075	19,929	19,443	18,911	17,618	15,987	14,104	12,521	12,102	12,281	12,810	13,183	13,339	13,337	0	0	0
Net interest income
506,346	504,757	463,796	424,671	373,937	326,252	314,398	300,987	291,578	265,478	236,750	209,630	186,013	183,806	179,431	171,783	163,680	154,098	150,122	144,464	138,088	124,145	105,923	92,407	78,853	74,933	71,771	68,011	64,466	58,553	0	0	0
Provision for loan losses
19,962	14,805	16,106	12,398	10,389	9,860	8,847	9,195	8,937	8,265	8,565	8,815	8,466	9,440	9,213	11,022	10,558	9,231	9,012	6,056	5,776	5,359	4,491	4,345	4,045	3,822	3,868	4,051	3,639	3,184	0	0	0
Net interest income after provision for loan losses
486,384	489,952	447,690	412,273	363,548	316,392	305,551	291,792	282,641	257,213	228,185	200,815	177,547	174,366	170,218	160,761	153,122	144,867	141,110	138,408	132,312	118,786	101,432	88,062	74,808	71,111	67,903	63,960	60,827	55,369	0	0	0
Noninterest income:
Service charges on deposit accounts
24,132	24,500	21,791	19,280	16,649	14,224	14,198	14,286	14,513	12,955	11,299	9,462	7,454	7,222	7,144	7,081	7,008	6,898	6,720	6,484	6,258	5,884	5,449	5,156	4,913	4,841	4,510	4,088	3,716	3,386	0	0	0
Investment management and trust
9,097	9,330	7,238	4,741	2,219	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking revenue
14,893	15,461	14,997	15,284	15,191	15,512	15,034	14,492	15,902	13,755	12,574	9,927	6,929	7,038	6,506	5,937	5,345	5,269	5,258	4,985	4,523	3,953	3,400	3,277	3,407	3,743	4,271	4,422	4,219	4,116	0	0	0
Loss on sale of loans
0	-	0	-	0	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-
Gain on sale of branches
-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Gain on sale of other real estate
900	875	907	463	209	269	89	-6	-100	-160	-36	-32	14	57	127	164	203	290	232	211	162	71	1,393	1,373	1,521	1,507	1,383	1,352	1,213	1,135	0	0	0
Gain on sale of securities available for sale
386	275	33	-82	-112	-581	-277	-162	-100	124	52	56	0	-	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-3	0	0	0
(Loss) gain on sale and disposal of premises and equipment
-657	-585	-585	-50	140	123	117	-124	-34	-21	-15	-3	-1	32	48	-317	-320	-358	-396	0	0	-	0	-	-	-18	7	1	-343	-343	0	0	0
Increase in cash surrender value of BOLI
5,507	5,525	4,977	4,406	3,790	3,170	3,117	3,064	3,088	2,748	2,370	1,994	1,482	1,348	1,208	1,074	1,072	1,077	1,088	1,101	1,093	972	798	597	416	348	322	324	326	327	0	0	0
Other
12,400	13,148	12,148	11,217	11,107	9,507	9,584	9,469	8,612	7,608	6,464	4,377	3,829	3,897	3,547	3,349	3,074	2,702	2,343	1,957	1,802	1,326	1,001	930	691	600	685	576	534	512	0	0	0
Total noninterest income
76,263	78,176	69,834	55,259	49,193	42,224	45,916	45,297	46,159	41,287	32,932	25,734	19,668	19,555	18,585	17,452	16,632	16,128	15,835	16,246	15,256	13,624	13,075	11,316	10,929	11,021	11,165	10,801	9,703	9,168	0	0	0
Noninterest expense:
Salaries and employee benefits
158,963	162,683	150,182	142,651	128,909	111,697	108,203	103,773	104,072	95,741	84,728	74,347	66,825	66,762	68,193	67,808	62,891	60,541	58,532	56,165	57,627	52,337	45,945	41,370	33,222	31,836	31,347	30,024	28,477	26,569	0	0	0
Occupancy
38,700	37,654	34,469	31,680	28,113	24,786	23,975	23,742	23,871	22,079	20,381	18,039	15,933	16,101	16,123	16,202	16,188	16,058	16,104	15,422	14,622	13,250	11,680	10,362	9,433	9,042	8,564	8,268	7,794	7,317	0	0	0
Communications and technology
17,591	17,103	16,876	15,395	13,413	10,754	10,009	9,566	9,714	8,597	7,626	6,270	4,858	4,752	4,819	4,415	3,878	3,384	2,800	2,486	2,272	2,080	1,798	1,683	1,547	1,347	1,316	1,251	1,227	1,198	0	0	0
FDIC assessment
1,569	1,065	1,164	4,063	3,813	3,306	3,368	3,685	4,174	4,311	4,327	4,373	4,041	3,889	3,424	2,842	2,466	2,259	2,104	1,989	2,012	1,797	1,505	1,332	558	500	417	375	847	800	0	0	0
Advertising and public relations
2,475	2,527	2,549	2,665	2,185	1,907	1,758	1,555	1,540	1,452	1,326	1,175	1,109	1,107	901	985	987	1,038	1,129	1,020	947	835	682	694	702	684	724	691	688	626	0	0	0
Communications
-	-	4,719	4,241	-	3,353	3,306	3,267	3,326	2,860	2,566	2,358	2,056	2,116	2,224	2,211	2,215	2,219	2,210	2,158	2,006	1,787	1,515	1,429	1,365	1,385	1,439	1,369	1,366	1,334	0	0	0
Other real estate owned expenses, net
721	418	349	259	299	318	352	351	357	304	248	332	209	205	165	108	143	169	158	192	212	232	375	364	398	485	383	336	313	220	0	0	0
Operations of IBG Adriatica, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	229	457	632	806	691	676	729	832	0	0	0
Impairment of other real estate
1,365	1,801	1,424	1,424	436	85	460	1,377	1,497	1,412	1,037	171	51	106	106	65	90	35	57	47	0	-	0	0	-	549	475	519	0	-	0	0	-
Amortization of other intangible assets
12,821	12,880	11,201	9,485	7,643	5,739	5,571	5,461	5,478	4,639	3,803	2,886	1,968	1,964	1,925	1,796	1,671	1,555	1,524	1,522	1,454	1,281	1,035	849	726	703	703	697	690	656	0	0	0
Professional fees
10,980	7,936	5,900	5,018	4,607	4,556	4,779	4,877	4,910	4,564	4,070	3,514	3,325	3,212	3,537	3,661	3,361	3,191	2,783	2,770	2,689	2,567	2,172	1,697	1,394	1,298	1,270	1,221	1,133	1,104	0	0	0
Acquisition expense, including legal
19,007	33,445	28,661	20,878	20,599	6,157	10,322	11,068	13,297	12,898	9,032	6,607	1,024	1,517	1,359	1,649	1,587	1,420	1,791	2,127	3,622	3,626	3,982	3,827	2,295	1,956	1,192	924	1,322	1,401	0	0	0
Other
40,300	39,207	37,170	32,612	27,827	25,961	24,221	22,851	21,507	17,956	15,477	13,532	11,900	12,059	12,180	12,157	11,854	11,329	10,455	10,059	9,360	8,698	8,281	7,633	7,451	7,080	6,727	6,039	5,461	5,009	0	0	0
Total noninterest expense
309,637	321,864	293,369	269,076	240,256	198,619	196,324	191,573	193,743	176,813	154,621	133,604	113,299	113,790	114,956	113,899	107,331	103,198	99,602	95,934	96,822	88,512	79,295	71,783	59,824	57,671	55,286	52,372	50,589	47,160	0	0	0
Income before taxes
253,010	246,264	224,155	198,456	172,485	159,997	155,143	145,516	135,057	121,687	106,496	92,945	83,916	80,131	73,847	64,314	62,423	57,797	57,343	58,720	50,746	43,898	35,212	27,595	25,913	24,461	22,186	19,971	0	-	0	0	-
Income tax expense
53,238	53,528	47,691	41,929	36,059	31,738	41,655	44,210	45,252	45,175	34,402	29,861	27,157	26,591	24,521	21,290	20,637	19,011	19,020	19,639	17,117	14,920	12,053	9,437	7,000	4,661	2,172	245	0	-	0	0	-
Net income
199,772	192,736	176,464	156,527	136,426	128,259	113,488	101,306	89,805	76,512	72,094	63,084	56,759	53,540	49,326	43,024	41,786	38,786	38,323	39,081	33,629	28,978	23,159	18,158	18,913	19,800	21,610	22,144	19,941	17,377	0	0	0
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