Independent Bank Group Prices Common Stock Offering

11/29/17

MCKINNEY, Texas, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Independent Bank Group, Inc. (Nasdaq:IBTX), the holding company for Independent Bank, today announced that it has priced its underwritten public offering of 2,135,506 shares of its common stock, of which 390,000 are being offered by Independent Bank Group and 1,745,506 are being offered by five shareholders of Independent Bank Group who acquired the shares in connection with Independent Bank Group’s acquisition of Carlile Bancshares, Inc. in April 2017, at a price to the public of $64.00 per share, for gross proceeds to Independent Bank Group of approximately$24.96 million. Independent Bank Group will not receive any of the proceeds of the sale of shares of common stock by the selling shareholders.

The net proceeds to Independent Bank Group, after deducting the underwriting discounts but before deducting its estimated offering expenses, are expected to be approximately $23.77 million. Independent Bank Group intends to use the proceeds of the offering for general corporate purposes, including to increase capital to support continued growth through acquisitions and continued organic growth.

The underwriters have been granted a 30-day option to purchase up to an additional 58,500 shares of common stock from Independent Bank Group and up to an aggregate of 154,453 additional shares of common stock from certain of the selling shareholders.

Stephens Inc. is serving as sole book-running manager of the underwritten offering, and Keefe, Bruyette & Woods, a Stifel Company, Sandler O’Neill + Partners, L.P., Evercore ISI, and Raymond James & Associates, Inc. are serving as co-managers for the underwritten offering.

About Independent Bank Group

Independent Bank Group, through its wholly owned subsidiary, Independent Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Independent Bank Group operates in four market regions located in the Dallas/Ft. Worth, Austin, and Houston, Texas and the Colorado Front Range areas.

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