Independent Bank Group, Inc. Announces Pricing of Subordinated Notes Offering

McKINNEY, TX / ACCESSWIRE / September 10, 2020 / Independent Bank Group, Inc. (NASDAQ:IBTX), the holding company for Independent Bank, today announced that it has priced the underwritten public offering of $130 million aggregate principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes will initially bear a fixed interest rate of 4.00% per year. Commencing on September 15, 2025, the interest rate on the Notes will reset on a quarterly basis to a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), plus 388.5 basis points, payable quarterly in arrears. The offering is expected to fund on September 15, 2020, subject to the satisfaction of customary closing conditions.

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.

Keefe, Bruyette & Woods, A Stifel Company, and Piper Sandler & Co. are joint book-running managers for the offering.

The Notes will be issued pursuant to an effective shelf registration statement (File No. 333-239125) which Independent Bank Group filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement (the “Preliminary Prospectus Supplement”) has been filed with the SEC for the offering to which this communication relates. Prospective investors should read the Preliminary Prospectus Supplement and the accompanying prospectus and other documents Independent Bank Group has filed with the SEC for more complete information about Independent Bank Group and the offering. You may access these documents for free by visiting EDGAR on the SEC’s website at Alternatively, Independent Bank Group, the underwriters or any dealer participating in the offering will arrange to send you the prospectus and the related Preliminary Prospectus Supplement if you request it by calling Keefe, Bruyette & Woods, A Stifel Company at (800) 966-1559 or e-mailing or by calling Piper Sandler & Co. at (866) 805-4128 or emailing

No Offer or Solicitation

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

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 areas in Texas and the Colorado Front Range area, including Denver, Colorado Springs and Fort Collins.

Forward Looking Statements

Certain statements contained in this press release and related presentations that are not statements of historical fact constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and the future performance of Independent Bank Group. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “could,” “may,” “should,” “will” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on Independent Bank Group’s current expectations and assumptions regarding Independent Bank Group’s business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, assumptions, risks, and changes in circumstances that are difficult to predict. Many possible events or factors could materialize or Independent Bank Group’s underlying assumptions could provide incorrect and affect Independent Bank Group’s future financial results and performance and could cause actual results or performance to differ materially from anticipated results or performance. Such risks and uncertainties include, among others, risks relating to the coronavirus (COVID-19) pandemic and its effect on U.S. and world financial markets, potential regulatory actions, changes in consumer behaviors and impacts on and modifications to the operations and business of Independent Bank Group relating thereto, and the business, economic and political conditions in the markets in which Independent Bank Group operates. Except to the extent required by applicable law or regulation, Independent Bank Group disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Further information regarding Independent Bank Group and factors which could affect the forward-looking statements contained herein can be found in Independent Bank Group’s Annual Report on Form 10-K, as amended, for the fiscal year ended December 31, 2019, its Quarterly Reports on Form 10-Q for the periods ended March 31, 2020 and June 30, 2020, and its other filings with the SEC.



Paul Langdale
Senior Vice President, Director of Corporate Development
(972) 562-9004

Michelle Hickox
Executive Vice President and Chief Financial Officer
(972) 562-9004


James Tippit
Executive Vice President, Head of Corporate Responsibility
(972) 562-9004

SOURCE: Independent Bank Group, Inc. via EQS Newswire

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