Kroll Bond Rating Agency (“KBRA”) has assigned a senior unsecured long-term rating of BBB, a subordinated rating of BBB-, and a short-term debt rating of K3 to Independent Bank Group, Inc. (NASDAQ:IBTX), a bank holding company headquartered in McKinney, Texas. In addition, KBRA has assigned a senior deposit rating of BBB+ and a short-term rating of K2 to the subsidiary bank, Independent Bank (the “Bank”). The outlook on all ratings is stable.
The ratings are supported by IBTX’s solid credit quality, strong earnings track record, strong risk management, and adequate capital and liquidity levels. These factors are counterbalanced by IBTX’s rapid rate of growth and high concentrations in real estate loans, which make IBTX more susceptible to credit losses in the event of a real estate downturn.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on May 2, 2013.
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
Contacts:
Marjan Riggi,
Managing
Director, 646-731-2354
mriggi@kbra.com
or
Isabelle
Nana, 240-394-4153
Associate
inana@kbra.com
or
Christopher
Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com