Company Quick10K Filing
Independent Bank Group
Price52.22 EPS3
Shares43 P/E16
MCap2,248 P/FCF16
Net Debt-570 EBIT294
TEV1,678 TEV/EBIT6
TTM 2019-09-30, in MM, except price, ratios
10-Q 2021-03-31 Filed 2021-04-29
10-K 2020-12-31 Filed 2021-03-01
10-Q 2020-09-30 Filed 2020-10-29
10-Q 2020-06-30 Filed 2020-07-30
10-Q 2020-03-31 Filed 2020-05-01
10-K 2019-12-31 Filed 2020-03-02
10-Q 2019-09-30 Filed 2019-10-24
10-Q 2019-06-30 Filed 2019-07-25
10-Q 2019-03-31 Filed 2019-04-25
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-10-25
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-04-26
10-K 2017-12-31 Filed 2018-02-27
10-Q 2017-09-30 Filed 2017-10-26
10-Q 2017-06-30 Filed 2017-07-27
10-Q 2017-03-31 Filed 2017-04-27
10-K 2016-12-31 Filed 2017-03-08
10-Q 2016-09-30 Filed 2016-10-27
10-Q 2016-06-30 Filed 2016-07-27
10-Q 2016-03-31 Filed 2016-04-27
10-K 2015-12-31 Filed 2016-02-25
10-Q 2015-09-30 Filed 2015-10-30
10-Q 2015-06-30 Filed 2015-07-31
10-Q 2015-03-31 Filed 2015-05-01
10-K 2014-12-31 Filed 2015-02-27
10-Q 2014-09-30 Filed 2014-11-04
10-Q 2014-06-30 Filed 2014-08-11
10-Q 2014-03-31 Filed 2014-05-05
10-K 2013-12-31 Filed 2014-03-27
10-Q 2013-09-30 Filed 2013-11-05
10-Q 2013-06-30 Filed 2013-08-08
10-Q 2013-03-31 Filed 2013-05-15
8-K 2020-11-02
8-K 2020-10-26
8-K 2020-09-10
8-K 2020-09-08
8-K 2020-08-27
8-K 2020-08-10
8-K 2020-07-29
8-K 2020-07-27
8-K 2020-06-10
8-K 2020-06-03
8-K 2020-05-26
8-K 2020-05-22
8-K 2020-04-29
8-K 2020-04-27
8-K 2020-02-03
8-K 2020-01-29
8-K 2020-01-27
8-K 2020-01-21
8-K 2019-12-09
8-K 2019-12-09
8-K 2019-11-11
8-K 2019-11-05
8-K 2019-10-23
8-K 2019-10-21
8-K 2019-08-07
8-K 2019-07-25
8-K 2019-07-24
8-K 2019-07-22
8-K 2019-05-23
8-K 2019-05-15
8-K 2019-05-13
8-K 2019-04-24
8-K 2019-04-23
8-K 2019-04-22
8-K 2019-01-30
8-K 2019-01-30
8-K 2019-01-28
8-K 2019-01-17
8-K 2019-01-01
8-K 2018-12-27
8-K 2018-12-17
8-K 2018-11-07
8-K 2018-10-24
8-K 2018-10-23
8-K 2018-09-24
8-K 2018-07-31
8-K 2018-07-25
8-K 2018-07-23
8-K 2018-06-07
8-K 2018-06-01
8-K 2018-05-24
8-K 2018-05-22
8-K 2018-05-21
8-K 2018-04-25
8-K 2018-04-23
8-K 2018-03-16
8-K 2018-02-01
8-K 2018-01-31
8-K 2018-01-29
8-K 2018-01-17
8-K 2018-01-08

IBTX 10Q Quarterly Report

Part I
Item 1. Consolidated Financial Statements
Note 1. Summary of Significant Accounting Policies
Note 2. Statement of Cash Flows
Note 3. Securities Available for Sale
Note 4. Loans, Net and Allowance for Credit Losses on Loans
Note 5. Off - Balance Sheet Arrangements, Commitments and Contingencies
Note 6. Income Taxes
Note 7. Fair Value Measurements
Note 8. Derivative Financial Instruments
Note 9. Stock Awards
Note 10. Regulatory Matters
Note 11. Subsequent Event
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10.2 exhibit102performancerestr.htm
EX-31.1 exhibit31_1q12021.htm
EX-31.2 exhibit31_2q312021.htm
EX-32.1 exhibit32_1q12021.htm
EX-32.2 exhibit32_2q12021.htm

Independent Bank Group Earnings 2021-03-31

Balance SheetIncome StatementCash Flow

ibtx-20210331
false2021Q10001564618--12-31P2YP1YP3YP4Y00015646182021-01-012021-03-31xbrli:shares00015646182021-04-27iso4217:USD00015646182021-03-3100015646182020-12-3100015646182020-01-012020-03-31iso4217:USDxbrli:shares00015646182019-12-3100015646182020-03-310001564618us-gaap:PreferredStockMember2020-12-310001564618us-gaap:CommonStockMember2020-12-310001564618us-gaap:AdditionalPaidInCapitalMember2020-12-310001564618us-gaap:RetainedEarningsMember2020-12-310001564618us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001564618us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CommonStockMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AdditionalPaidInCapitalMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:RetainedEarningsMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310001564618us-gaap:RetainedEarningsMember2021-01-012021-03-310001564618us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001564618us-gaap:CommonStockMember2021-01-012021-03-310001564618us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001564618us-gaap:PreferredStockMember2021-03-310001564618us-gaap:CommonStockMember2021-03-310001564618us-gaap:AdditionalPaidInCapitalMember2021-03-310001564618us-gaap:RetainedEarningsMember2021-03-310001564618us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001564618us-gaap:PreferredStockMember2019-12-310001564618us-gaap:CommonStockMember2019-12-310001564618us-gaap:AdditionalPaidInCapitalMember2019-12-310001564618us-gaap:RetainedEarningsMember2019-12-310001564618us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001564618us-gaap:RetainedEarningsMember2020-01-012020-03-310001564618us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310001564618us-gaap:CommonStockMember2020-01-012020-03-310001564618us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310001564618us-gaap:PreferredStockMember2020-03-310001564618us-gaap:CommonStockMember2020-03-310001564618us-gaap:AdditionalPaidInCapitalMember2020-03-310001564618us-gaap:RetainedEarningsMember2020-03-310001564618us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-31ibtx:business_trustibtx:segment00015646182021-01-010001564618us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:AccountingStandardsUpdate201613Member2021-01-0100015646182021-01-012021-01-010001564618us-gaap:CommercialPortfolioSegmentMember2021-01-010001564618us-gaap:CommercialPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CommercialPortfolioSegmentMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialRealEstateMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:ResidentialRealEstateMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-01-010001564618ibtx:AgriculturalPortfolioSegmentMember2021-01-010001564618ibtx:AgriculturalPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberibtx:AgriculturalPortfolioSegmentMember2021-01-010001564618us-gaap:ConsumerPortfolioSegmentMember2021-01-010001564618us-gaap:ConsumerPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-010001564618ibtx:OtherPortfolioSegmentMember2021-01-010001564618ibtx:OtherPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberibtx:OtherPortfolioSegmentMember2021-01-010001564618us-gaap:UnallocatedFinancingReceivablesMember2021-01-010001564618us-gaap:UnallocatedFinancingReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:UnallocatedFinancingReceivablesMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2021-01-010001564618ibtx:PerformanceBasedPerformanceStockUnitsMember2021-01-012021-03-310001564618ibtx:PerformanceBasedPerformanceStockUnitsMember2020-01-012020-03-310001564618ibtx:ParticipatingSecuritiesMember2021-01-012021-03-310001564618ibtx:ParticipatingSecuritiesMember2020-01-012020-03-310001564618us-gaap:USTreasurySecuritiesMember2021-03-310001564618us-gaap:AgencySecuritiesMember2021-03-310001564618us-gaap:USStatesAndPoliticalSubdivisionsMember2021-03-310001564618us-gaap:CorporateBondSecuritiesMember2021-03-310001564618us-gaap:ResidentialMortgageBackedSecuritiesMember2021-03-310001564618us-gaap:OtherDebtSecuritiesMember2021-03-310001564618us-gaap:USTreasurySecuritiesMember2020-12-310001564618us-gaap:AgencySecuritiesMember2020-12-310001564618us-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310001564618us-gaap:CorporateBondSecuritiesMember2020-12-310001564618us-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310001564618us-gaap:OtherDebtSecuritiesMember2020-12-310001564618us-gaap:AvailableforsaleSecuritiesMember2021-03-310001564618us-gaap:AvailableforsaleSecuritiesMember2020-12-31ibtx:security0001564618us-gaap:CommercialPortfolioSegmentMember2021-03-310001564618us-gaap:CommercialPortfolioSegmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMember2021-03-310001564618us-gaap:ConsumerPortfolioSegmentMember2020-12-310001564618ibtx:OtherPortfolioSegmentMember2021-03-310001564618ibtx:OtherPortfolioSegmentMember2020-12-310001564618us-gaap:LoansReceivableMember2021-03-310001564618us-gaap:LoansReceivableMember2020-12-310001564618ibtx:EnergyRelatedLoansMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618ibtx:EnergyRelatedLoansMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:WarehouseLoansMembersrt:MaximumMember2021-01-012021-03-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:WarehouseLoansMember2021-01-012021-03-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:WarehouseLoansMember2021-03-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:WarehouseLoansMember2020-12-310001564618ibtx:SmallBusinessAdministrationSBACARESActPaycheckProtectionProgramMemberus-gaap:CommercialPortfolioSegmentMembersrt:MinimumMember2021-01-012021-03-310001564618ibtx:SmallBusinessAdministrationSBACARESActPaycheckProtectionProgramMemberus-gaap:CommercialPortfolioSegmentMembersrt:MaximumMember2021-01-012021-03-31xbrli:pure0001564618ibtx:SmallBusinessAdministrationSBACARESActPaycheckProtectionProgramMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618ibtx:SmallBusinessAdministrationSBACARESActPaycheckProtectionProgramMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618ibtx:LoansandLeasesNetMemberibtx:OwnerOccupiedMember2021-01-012021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:RealEstateLoanMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:RealEstateLoanMember2021-01-012021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberibtx:NonRealEstateLoanMember2021-01-012021-03-310001564618us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-310001564618us-gaap:GeographicConcentrationRiskMemberibtx:LoansandLeasesNetMemberstpr:CO2021-01-012021-03-310001564618srt:MinimumMember2021-01-012021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2020-12-310001564618us-gaap:UnallocatedFinancingReceivablesMember2020-12-310001564618us-gaap:CommercialPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialRealEstateMember2021-01-012021-01-010001564618ibtx:RealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-01-012021-01-010001564618ibtx:AgriculturalPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618us-gaap:ConsumerPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618ibtx:OtherPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618us-gaap:UnallocatedFinancingReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-01-010001564618us-gaap:CommercialPortfolioSegmentMember2021-01-012021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2021-01-012021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-01-012021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-01-012021-03-310001564618ibtx:AgriculturalPortfolioSegmentMember2021-01-012021-03-310001564618ibtx:OtherPortfolioSegmentMember2021-01-012021-03-310001564618us-gaap:UnallocatedFinancingReceivablesMember2021-01-012021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2021-03-310001564618us-gaap:UnallocatedFinancingReceivablesMember2021-03-310001564618us-gaap:CommercialPortfolioSegmentMember2019-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2019-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2019-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2019-12-310001564618ibtx:AgriculturalPortfolioSegmentMember2019-12-310001564618us-gaap:ConsumerPortfolioSegmentMember2019-12-310001564618ibtx:OtherPortfolioSegmentMember2019-12-310001564618us-gaap:UnallocatedFinancingReceivablesMember2019-12-310001564618us-gaap:CommercialPortfolioSegmentMember2020-01-012020-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2020-01-012020-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2020-01-012020-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-01-012020-03-310001564618ibtx:AgriculturalPortfolioSegmentMember2020-01-012020-03-310001564618us-gaap:ConsumerPortfolioSegmentMember2020-01-012020-03-310001564618ibtx:OtherPortfolioSegmentMember2020-01-012020-03-310001564618us-gaap:UnallocatedFinancingReceivablesMember2020-01-012020-03-310001564618us-gaap:CommercialPortfolioSegmentMember2020-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2020-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2020-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-03-310001564618ibtx:AgriculturalPortfolioSegmentMember2020-03-310001564618us-gaap:ConsumerPortfolioSegmentMember2020-03-310001564618ibtx:OtherPortfolioSegmentMember2020-03-310001564618us-gaap:UnallocatedFinancingReceivablesMember2020-03-310001564618us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberus-gaap:NonperformingFinancingReceivableMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2021-03-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2021-03-310001564618us-gaap:NonperformingFinancingReceivableMemberibtx:OtherPortfolioSegmentMember2021-03-310001564618us-gaap:NonperformingFinancingReceivableMember2021-03-310001564618us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberus-gaap:NonperformingFinancingReceivableMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-12-310001564618us-gaap:NonperformingFinancingReceivableMemberibtx:OtherPortfolioSegmentMember2020-12-310001564618us-gaap:NonperformingFinancingReceivableMember2020-12-31ibtx:contractibtx:modified_loan0001564618us-gaap:CommercialPortfolioSegmentMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618us-gaap:ConsumerPortfolioSegmentMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618ibtx:OtherPortfolioSegmentMemberibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618ibtx:OtherPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618ibtx:FinancingReceivables30to89DaysPastDueMember2021-03-310001564618us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618us-gaap:CommercialPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618ibtx:OtherPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618ibtx:OtherPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618ibtx:OtherPortfolioSegmentMemberibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618ibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618ibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618ibtx:FinancingReceivablesExcludingReceivablesAcquiredwithDeterioratedCreditQualityMember2020-12-310001564618us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2020-12-310001564618ibtx:FinancingReceivables30to89DaysPastDueMember2020-12-310001564618us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310001564618us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618ibtx:PassWatchMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2021-03-310001564618us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberus-gaap:CommercialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMemberus-gaap:SpecialMentionMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialConstructionLandandLandDevelopmentRealEstateMemberus-gaap:DoubtfulMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:ResidentialRealEstateMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2021-03-310001564618us-gaap:PassMemberibtx:AgriculturalPortfolioSegmentMember2021-03-310001564618ibtx:PassWatchMemberibtx:AgriculturalPortfolioSegmentMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:SpecialMentionMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:SubstandardMember2021-03-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:DoubtfulMember2021-03-310001564618us-gaap:PassMemberus-gaap:ConsumerPortfolioSegmentMember2021-03-310001564618ibtx:PassWatchMemberus-gaap:ConsumerPortfolioSegmentMember2021-03-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2021-03-310001564618us-gaap:SubstandardMemberus-gaap:ConsumerPortfolioSegmentMember2021-03-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:DoubtfulMember2021-03-310001564618us-gaap:PassMemberibtx:OtherPortfolioSegmentMember2021-03-310001564618ibtx:PassWatchMemberibtx:OtherPortfolioSegmentMember2021-03-310001564618us-gaap:SpecialMentionMemberibtx:OtherPortfolioSegmentMember2021-03-310001564618us-gaap:SubstandardMemberibtx:OtherPortfolioSegmentMember2021-03-310001564618ibtx:OtherPortfolioSegmentMemberus-gaap:DoubtfulMember2021-03-310001564618us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618ibtx:PassWatchMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310001564618us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberus-gaap:SpecialMentionMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:CommercialRealEstateConstructionLandandLandDevelopmentMemberus-gaap:DoubtfulMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:ResidentialRealEstateMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:PassMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberibtx:PassWatchMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618ibtx:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMemberibtx:SingleFamilyInterimConstructionRealEstatePortfolioSegmentMember2020-12-310001564618us-gaap:PassMemberibtx:AgriculturalPortfolioSegmentMember2020-12-310001564618ibtx:PassWatchMemberibtx:AgriculturalPortfolioSegmentMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:SubstandardMember2020-12-310001564618ibtx:AgriculturalPortfolioSegmentMemberus-gaap:DoubtfulMember2020-12-310001564618us-gaap:PassMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310001564618ibtx:PassWatchMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-12-310001564618us-gaap:SubstandardMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310001564618us-gaap:ConsumerPortfolioSegmentMemberus-gaap:DoubtfulMember2020-12-310001564618us-gaap:PassMemberibtx:OtherPortfolioSegmentMember2020-12-310001564618ibtx:PassWatchMemberibtx:OtherPortfolioSegmentMember2020-12-310001564618us-gaap:SpecialMentionMemberibtx:OtherPortfolioSegmentMember2020-12-310001564618us-gaap:SubstandardMemberibtx:OtherPortfolioSegmentMember2020-12-310001564618ibtx:OtherPortfolioSegmentMemberus-gaap:DoubtfulMember2020-12-310001564618us-gaap:PassMember2020-12-310001564618ibtx:PassWatchMember2020-12-310001564618us-gaap:SpecialMentionMember2020-12-310001564618us-gaap:SubstandardMember2020-12-310001564618us-gaap:DoubtfulMember2020-12-310001564618us-gaap:CommitmentsToExtendCreditMember2021-03-310001564618us-gaap:CommitmentsToExtendCreditMember2020-12-310001564618us-gaap:StandbyLettersOfCreditMember2021-03-310001564618us-gaap:StandbyLettersOfCreditMember2020-12-310001564618srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMember2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001564618us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001564618us-gaap:AgencySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMember2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:FairValueMeasurementsNonrecurringMember2021-03-310001564618us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2021-03-310001564618us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618ibtx:ImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-03-310001564618us-gaap:FairValueMeasurementsNonrecurringMember2020-12-310001564618us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310001564618us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618ibtx:ImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-01-012020-12-310001564618us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-03-310001564618us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-03-310001564618us-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:FairValueInputsLevel2Member2021-03-310001564618us-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-03-310001564618us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommitmentsToExtendCreditMember2021-03-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:FairValueInputsLevel2Member2021-03-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:StandbyLettersOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-03-310001564618us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:StandbyLettersOfCreditMember2021-03-310001564618us-gaap:StandbyLettersOfCreditMemberus-gaap:FairValueInputsLevel1Member2021-03-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:StandbyLettersOfCreditMember2021-03-310001564618us-gaap:StandbyLettersOfCreditMemberus-gaap:FairValueInputsLevel3Member2021-03-310001564618us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310001564618us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310001564618us-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:FairValueInputsLevel2Member2020-12-310001564618us-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310001564618us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommitmentsToExtendCreditMember2020-12-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:FairValueInputsLevel2Member2020-12-310001564618us-gaap:CommitmentsToExtendCreditMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:StandbyLettersOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310001564618us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:StandbyLettersOfCreditMember2020-12-310001564618us-gaap:StandbyLettersOfCreditMemberus-gaap:FairValueInputsLevel1Member2020-12-310001564618us-gaap:FairValueInputsLevel2Memberus-gaap:StandbyLettersOfCreditMember2020-12-310001564618us-gaap:StandbyLettersOfCreditMemberus-gaap:FairValueInputsLevel3Member2020-12-310001564618us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMemberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2021-03-310001564618us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMemberus-gaap:NondesignatedMember2020-12-310001564618us-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMemberibtx:FinancialinstitutioncounterpartyMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberibtx:InterestRateReceivedMemberus-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMemberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:InterestRateSwapMemberibtx:InterestRatePaidMemberus-gaap:CommercialLoanMemberus-gaap:NondesignatedMember2021-03-310001564618ibtx:LoancustomercounterpartyMemberibtx:InterestRateReceivedMemberus-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:InterestRateSwapMemberibtx:InterestRatePaidMemberus-gaap:CommercialLoanMemberus-gaap:NondesignatedMember2020-12-310001564618ibtx:LoancustomercounterpartyMemberus-gaap:InterestRateSwapMember2021-03-310001564618ibtx:RiskParticipationAgreementsParticipantBankMember2021-03-310001564618ibtx:RiskParticipationAgreementsLeadBankMember2021-03-310001564618us-gaap:InterestRateLockCommitmentsMember2021-01-012021-03-310001564618us-gaap:InterestRateLockCommitmentsMember2020-01-012020-03-310001564618us-gaap:ForwardContractsMember2021-01-012021-03-310001564618us-gaap:ForwardContractsMember2020-01-012020-03-310001564618ibtx:EquityIncentivePlanTwentyThirteenMember2013-04-300001564618ibtx:EquityIncentivePlanTwentyThirteenMember2021-03-310001564618ibtx:EquityIncentivePlanTwentyThirteenMembersrt:MinimumMemberus-gaap:RestrictedStockMember2021-01-012021-03-310001564618ibtx:EquityIncentivePlanTwentyThirteenMembersrt:MaximumMemberus-gaap:RestrictedStockMember2021-01-012021-03-310001564618ibtx:EquityIncentivePlanTwentyThirteenMembersrt:MinimumMemberibtx:PerformanceBasedPerformanceStockUnitsMember2021-01-012021-03-310001564618ibtx:EquityIncentivePlanTwentyThirteenMembersrt:MaximumMemberibtx:PerformanceBasedPerformanceStockUnitsMember2021-01-012021-03-310001564618us-gaap:RestrictedStockMember2020-12-310001564618us-gaap:RestrictedStockMember2021-01-012021-03-310001564618us-gaap:RestrictedStockMember2021-03-310001564618us-gaap:RestrictedStockMember2019-12-310001564618us-gaap:RestrictedStockMember2020-01-012020-03-310001564618us-gaap:RestrictedStockMember2020-03-310001564618ibtx:FirstYearMember2021-03-310001564618ibtx:SecondYearMember2021-03-310001564618ibtx:ThirdYearMember2021-03-310001564618ibtx:FourthYearMember2021-03-310001564618ibtx:FifthYearMember2021-03-310001564618ibtx:PerformanceBasedPerformanceStockUnitsMember2020-12-310001564618ibtx:PerformanceBasedPerformanceStockUnitsMember2021-03-310001564618srt:MaximumMemberibtx:PerformanceBasedPerformanceStockUnitsMember2021-03-310001564618srt:ParentCompanyMember2021-03-310001564618srt:SubsidiariesMember2021-03-310001564618srt:ParentCompanyMember2020-12-310001564618srt:SubsidiariesMember2020-12-310001564618ibtx:October2020ShareRepurchaseProgramMember2021-03-310001564618ibtx:October2020ShareRepurchaseProgramMember2021-01-012021-03-310001564618us-gaap:SubsequentEventMember2021-04-222021-04-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549   

FORM 10-Q
(Mark One)
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
For the quarterly period ended March 31, 2021.
or
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
For the transition period from                 to                    .
Commission file number 001-35854
Independent Bank Group, Inc.
(Exact name of registrant as specified in its charter)   
Texas   13-4219346
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)
7777 Henneman Way   
McKinney,
Texas75070-1711
(Address of principal executive offices)   (Zip Code)
(972) 562-9004
(Registrant’s telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Exchange on Which Registered
Common Stock, par value $0.01 per shareIBTXNASDAQ Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerAccelerated Filer
Non-Accelerated Filer(Do not check if a smaller reporting company)
Smaller Reporting Company
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act.
Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No
Applicable Only to Corporate Issuers
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practical date.
Common Stock, Par Value $0.01 Per Share – 43,192,579 shares as of April 27, 2021.




INDEPENDENT BANK GROUP, INC. AND SUBSIDIARIES
Form 10-Q
March 31, 2021
   
PART I.
Item 1.
Item 2.
Item 3.
Item 4.
PART II.
Item 1.
Item 1A.
Item 2
Item 3.
Item 4.
Item 5.
Item 6.
   

***





Table of Contents

PART I
ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS
Independent Bank Group, Inc. and Subsidiaries
Consolidated Balance Sheets
March 31, 2021 (unaudited) and December 31, 2020
(Dollars in thousands, except share information)
   March 31,December 31,
Assets20212020
Cash and due from banks$248,231 $250,485 
Interest-bearing deposits in other banks2,168,639 1,563,502 
Cash and cash equivalents2,416,870 1,813,987 
Certificates of deposit held in other banks4,482 4,482 
Securities available for sale, at fair value1,307,957 1,153,693 
Loans held for sale (includes $53,930 and $71,769 carried at fair value, respectively)
57,799 82,647 
Loans, net of allowance for credit losses of $165,827 and $87,820, respectively
12,604,930 12,978,238 
Premises and equipment, net250,002 249,467 
Other real estate owned475 475 
Federal Home Loan Bank (FHLB) of Dallas stock and other restricted stock20,338 20,305 
Bank-owned life insurance (BOLI)221,700 220,428 
Deferred tax asset18,804 3,933 
Goodwill994,021 994,021 
Other intangible assets, net84,925 88,070 
Other assets133,033 143,730 
Total assets$18,115,336 $17,753,476 
Liabilities and Stockholders’ Equity      
Deposits:      
Noninterest-bearing$4,466,310 $4,164,800 
Interest-bearing10,337,482 10,234,127 
Total deposits14,803,792 14,398,927 
FHLB advances375,000 375,000 
Other borrowings308,350 312,175 
Junior subordinated debentures54,072 54,023 
Other liabilities81,005 97,980 
Total liabilities15,622,219 15,238,105 
Commitments and contingencies  
Stockholders’ equity:      
Preferred stock (0 and 0 shares outstanding, respectively)
  
Common stock (43,193,257 and 43,137,104 shares outstanding, respectively)
432 431 
Additional paid-in capital1,938,012 1,934,807 
Retained earnings535,375 543,800 
Accumulated other comprehensive income19,298 36,333 
Total stockholders’ equity2,493,117 2,515,371 
Total liabilities and stockholders’ equity$18,115,336 $17,753,476 
See Notes to Consolidated Financial Statements
1


Table of Contents

Independent Bank Group, Inc. and Subsidiaries
Consolidated Statements of Income
Three Months Ended March 31, 2021 and 2020 (unaudited)
(Dollars in thousands, except per share information)
   Three Months Ended March 31,
   20212020
Interest income:
Interest and fees on loans$140,152 $147,105 
Interest on taxable securities4,757 5,164 
Interest on nontaxable securities2,069 2,065 
Interest on interest-bearing deposits and other793 2,071 
Total interest income147,771 156,405 
Interest expense:
Interest on deposits13,007 28,071 
Interest on FHLB advances533 1,626 
Interest on other borrowings4,060 2,795 
Interest on junior subordinated debentures442 672 
Total interest expense18,042 33,164 
Net interest income129,729 123,241 
Provision for credit losses(2,500)8,381 
Net interest income after provision for credit losses132,229 114,860 
Noninterest income:
Service charges on deposit accounts2,261 2,752 
Investment management fees2,043 1,986 
Mortgage banking revenue7,495 2,525 
Loss on sale of loans (42)
Gain on sale of other real estate 25 
Gain on sale of securities available for sale 356 
Loss on sale and disposal of premises and equipment(7)(63)
Increase in cash surrender value of BOLI1,272 1,341 
Other5,545 5,692 
Total noninterest income18,609 14,572 
Noninterest expense:
Salaries and employee benefits43,659 38,660 
Occupancy9,606 10,037 
Communications and technology5,536 5,552 
FDIC assessment1,705 1,752 
Advertising and public relations238 611 
Other real estate owned expenses, net8 374 
Amortization of other intangible assets3,145 3,176 
Professional fees3,670 4,214 
Acquisition expense, including legal 549 
Other7,546 9,504 
Total noninterest expense75,113 74,429 
Income before taxes75,725 55,003 
Income tax expense15,745 10,836 
Net income$59,980 $44,167 
Basic earnings per share$1.39 $1.03 
Diluted earnings per share$1.39 $1.03 
See Notes to Consolidated Financial Statements
2


Table of Contents

Independent Bank Group, Inc. and Subsidiaries
Consolidated Statements of Comprehensive Income
Three Months Ended March 31, 2021 and 2020 (unaudited)
(Dollars in thousands)
   Three Months Ended March 31,
   20212020
Net income$59,980 $44,167 
Other comprehensive (loss) income before tax:   
Change in net unrealized (losses) gains on available for sale securities during the year(21,563)14,976 
Reclassification for amount realized through sales of securities available for sale included in net income (356)
Other comprehensive (loss) income before tax(21,563)14,620 
Income tax (benefit) expense(4,528)3,258 
Other comprehensive (loss) income, net of tax(17,035)11,362 
Comprehensive income$42,945 $55,529 
See Notes to Consolidated Financial Statements
3



Table of Contents

Independent Bank Group, Inc. and Subsidiaries
Consolidated Statements of Changes in Stockholders’ Equity
Three Months Ended March 31, 2021 and 2020 (unaudited)
(Dollars in thousands, except for par value, share and per share information)
   
Preferred Stock
$0.01 Par Value
Common Stock
$0.01 Par Value
Additional
Paid in Capital
Retained
Earnings
Accumulated Other Comprehensive IncomeTotal
10 million shares authorized
100 million shares authorized
   SharesAmount
Three Months Ended
Balance, December 31, 2020$ 43,137,104 $431 $1,934,807 $543,800 $36,333 $2,515,371 
Cumulative effect of change in accounting principle— — — — (53,880)— (53,880)
Adjusted beginning balance— 43,137,104 431 1,934,807 489,920 36,333 2,461,491 
Net income— — — — 59,980 — 59,980 
Other comprehensive loss, net of tax— — — — — (17,035)(17,035)
Common stock repurchased — (22,835) — (1,489)— (1,489)
Restricted stock forfeited — (4,506) — — —  
Restricted stock granted— 83,494 1 (1)— —  
Stock based compensation expense— — — 3,206 — — 3,206 
Cash dividends ($0.30 per share)
— — — — (13,036)— (13,036)
Balance, March 31, 2021$ 43,193,257 $432 $1,938,012 $535,375 $19,298 $2,493,117 
Three Months Ended
Balance, December 31, 2019$ 42,950,228 $430 $1,926,359 $393,674 $19,310 $2,339,773 
Net income— — — — 44,167 — 44,167 
Other comprehensive income, net of tax— — — — — 11,362 11,362 
Common stock repurchased— (2,629) — (145)— (145)
Restricted stock granted— 94,177 — — — —  
Stock based compensation expense— — — 1,882 — — 1,882 
Cash dividends ($0.25 per share)
— — — — (10,754)— (10,754)
Balance, March 31, 2020$ 43,041,776 $430 $1,928,241 $426,942 $30,672 $2,386,285 
See Notes to Consolidated Financial Statements
4




Table of Contents

Independent Bank Group, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
Three Months Ended March 31, 2021 and 2020 (unaudited)
(Dollars in thousands) 
   Three Months Ended March 31,
   20212020
Cash flows from operating activities:      
Net income$59,980 $44,167 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense3,160 3,154 
Accretion income recognized on acquired loans(6,245)(9,142)
Amortization of other intangibles assets3,145 3,176 
Amortization of premium on securities, net982 619 
Amortization of discount and origination costs on borrowings224 159 
Stock based compensation expense3,206 1,882 
Excess tax (benefit) expense on restricted stock vested(194)80 
FHLB stock dividends(33)(168)
Gain on sale of securities available for sale (356)
Loss on sale and disposal of premises and equipment7 63 
Loss on sale of loans 42 
Gain on sale of other real estate owned (25)
Impairment of other assets9  
Deferred tax expense 4,771 2,471 
Provision for credit losses(2,500)8,381 
Increase in cash surrender value of BOLI(1,272)(1,341)
Net gain on mortgage loans held for sale(5,299)(3,916)
Originations of loans held for sale(217,882)(107,580)
Proceeds from sale of loans held for sale248,029 107,714 
Net change in other assets10,833 (10,935)
Net change in other liabilities(23,033)1,980 
Net cash provided by operating activities77,888 40,425 
Cash flows from investing activities:      
Proceeds from maturities, calls and pay downs of securities available for sale7,200,419 1,528,836 
Proceeds from sale of securities available for sale 13,100 
Purchases of securities available for sale(7,372,228)(1,530,779)
Purchases of FHLB stock and other restricted stock (25,211)
Proceeds from redemptions of FHLB stock and other restricted stock 106 
Proceeds from sale of loans 1,455 
Net loans originated held for investment(33,926)(89,252)
Originations of mortgage warehouse purchase loans(8,419,896)(4,523,819)
Proceeds from pay-offs of mortgage warehouse purchase loans8,767,994 4,414,527 
Additions to premises and equipment(3,811)(5,948)
Proceeds from sale of premises and equipment21 66 
Proceeds from sale of other real estate owned 4,200 
Net cash provided by (used in) investing activities138,573 (212,719)
5




Table of Contents

Independent Bank Group, Inc. and Subsidiaries
Consolidated Statements of Cash Flows (Continued)
Three Months Ended March 31, 2021 and 2020 (unaudited)
(Dollars in thousands) 
   Three Months Ended March 31,
   20212020
Cash flows from financing activities:      
Net increase (decrease) in demand deposits, money market and savings accounts456,447 (9,596)
Net decrease in time deposits(51,582)(48,974)
Proceeds from FHLB advances 1,100,000 
Repayments of FHLB advances (450,000)
Proceeds from other borrowings2,500  
Repayments of other borrowings(6,500)(24,500)
Repurchase of common stock(1,489)(145)
Dividends paid(12,954)(10,754)
Net cash provided by financing activities386,422 556,031 
Net change in cash and cash equivalents602,883 383,737 
Cash and cash equivalents at beginning of period1,813,987 565,170 
Cash and cash equivalents at end of period$2,416,870 $948,907 
See Notes to Consolidated Financial Statements


6


Table of Contents

Independent Bank Group, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (unaudited)
(Dollars in thousands, except for share and per share information)

Note 1. Summary of Significant Accounting Policies
Nature of operations: Independent Bank Group, Inc. (IBG) through its subsidiary, Independent Bank, a Texas state banking corporation, doing business as Independent Financial, (Bank) (collectively known as the Company), provides a full range of banking services to individual and corporate customers in the North, Central and Southeast, Texas areas and along the Colorado Front Range, through its various branch locations in those areas. The Company is engaged in traditional community banking activities, which include commercial and retail lending, deposit gathering, investment and liquidity management activities. The Company’s primary deposit products are demand deposits, money market accounts and certificates of deposit and its primary lending products are commercial business and real estate, real estate mortgage and consumer loans.
Basis of presentation: The accompanying consolidated financial statements include the accounts of IBG and all other entities in which IBG has controlling financial interest. All material intercompany transactions and balances have been eliminated in consolidation. In addition, the Company wholly-owns nine statutory business trusts that were formed for the purpose of issuing trust preferred securities and do not meet the criteria for consolidation.
The consolidated interim financial statements are unaudited, but include all adjustments, which, in the opinion of management, are necessary for a fair presentation of the results of the periods presented. All such adjustments were of a normal and recurring nature. These financial statements should be read in conjunction with the financial statements and the notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The consolidated balance sheet at December 31, 2020 has been derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
Accounting standards codification: The Financial Accounting Standards Board's (FASB) Accounting Standards Codification (ASC) is the officially recognized source of authoritative U.S. generally accepted accounting principles (GAAP) applicable to all public and non-public non-governmental entities. Rules and interpretive releases of the SEC under the authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. All other accounting literature is considered non-authoritative. Citing particular content in the ASC involves specifying the unique numeric path to the content through the Topic, Subtopic, Section and Paragraph structure.