MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Wednesday reported a loss of $493.5 million in its second quarter.
The bank, based in McKinney, Texas, said it had a loss of $11.89 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 60 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The bank holding company posted revenue of $252.5 million in the period. Its revenue net of interest expense was $118.6 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $120.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBTX at https://www.zacks.com/ap/IBTX
