Independent Bank Group Management

Management criteria checks 3/4

Independent Bank Group's CEO is David Brooks, appointed in Jan 2002, has a tenure of 22.25 years. total yearly compensation is $3.22M, comprised of 29.8% salary and 70.2% bonuses, including company stock and options. directly owns 1.65% of the company’s shares, worth €24.49M. The average tenure of the management team and the board of directors is 2.5 years and 11.2 years respectively.

Key information

David Brooks

Chief executive officer

US$3.2m

Total compensation

CEO salary percentage	29.8%
CEO tenure	22.3yrs
CEO ownership	1.7%
Management average tenure	2.5yrs
Board average tenure	11.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has David Brooks's remuneration changed compared to Independent Bank Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$105m
Dec 31 2023	US$3m	US$959k	US$43m
Sep 30 2023	n/a	n/a	US$69m
Jun 30 2023	n/a	n/a	US$88m
Mar 31 2023	n/a	n/a	US$107m
Dec 31 2022	US$3m	US$847k	US$195m
Sep 30 2022	n/a	n/a	US$208m
Jun 30 2022	n/a	n/a	US$208m
Mar 31 2022	n/a	n/a	US$214m
Dec 31 2021	US$3m	US$824k	US$223m
Sep 30 2021	n/a	n/a	US$227m
Jun 30 2021	n/a	n/a	US$234m
Mar 31 2021	n/a	n/a	US$215m
Dec 31 2020	US$4m	US$799k	US$200m
Sep 30 2020	n/a	n/a	US$192m
Jun 30 2020	n/a	n/a	US$188m
Mar 31 2020	n/a	n/a	US$199m
Dec 31 2019	US$2m	US$765k	US$191m
Sep 30 2019	n/a	n/a	US$176m
Jun 30 2019	n/a	n/a	US$156m
Mar 31 2019	n/a	n/a	US$136m
Dec 31 2018	US$2m	US$725k	US$127m
Sep 30 2018	n/a	n/a	US$113m
Jun 30 2018	n/a	n/a	US$101m
Mar 31 2018	n/a	n/a	US$90m
Dec 31 2017	US$2m	US$700k	US$77m

Compensation vs Market: David's total compensation ($USD3.22M) is above average for companies of similar size in the German market ($USD1.62M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.

CEO

David Brooks (64 yo)

22.3yrs

Tenure

US$3,217,738

Compensation

Mr. David R. Brooks is Chairman of the Board, Chief Executive Officer and a Director of the Independent Bank and Independent Bank Group, Inc. since 2002. He founded Independent Bank Group, Inc. in 1988. Mr...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Brooks	Chairman of the Board & CEO	22.3yrs	US$3.22m	1.65% $ 24.5m
Michael Hobbs	President & COO	2.5yrs	US$1.48m	0.099% $ 1.5m
Paul Langdale	Executive VP & CFO	1.8yrs	US$892.25k	0.032% $ 480.5k
John Turpen	Executive VP & Chief Risk Officer	2.8yrs	US$1.04m	0.027% $ 397.5k
Brenda Montgomery	Chief Accounting Officer	no data	no data	0.030% $ 450.2k
Bill Wade	EVP & Chief Information Officer	1.9yrs	no data	no data
Peggy Smolen	Senior Vice President of Marketing & Communications	no data	no data	no data
James Tippit	Executive Vice President of Corporate Responsibility	6.3yrs	US$1.01m	0.044% $ 655.6k
Leslie Beseda	Senior VP & Director of Financial Reporting	no data	no data	no data
Charles Cartwright	Senior Vice President SBA Business Development Officer	4.6yrs	no data	no data
Daniel App	EVP & Head of Operations	1.9yrs	no data	no data
Daniel Strodel	Executive VP & Chief Banking Officer	1.6yrs	no data	no data

2.5yrs

Average Tenure

54yo

Average Age

Experienced Management: I3B's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Brooks	Chairman of the Board & CEO	22.3yrs	US$3.22m	1.65% $ 24.5m
Craig Holmes	Independent Director	11.2yrs	US$147.00k	0.052% $ 777.5k
Paul Washington	Independent Director	3yrs	US$127.00k	0.0084% $ 124.8k
John Jennings	Independent Director	10yrs	US$127.00k	0.13% $ 2.0m
Janet Froetscher	Independent Director	less than a year	US$126.33k	0.0042% $ 62.3k
Daniel Brooks	Vice Chairman	22.3yrs	US$1.27m	0.30% $ 4.5m
William Fair	Independent Director	15.3yrs	US$142.00k	0.56% $ 8.2m
G. Smith	Lead Independent Director	11.2yrs	US$177.00k	0.13% $ 2.0m
Michael Viola	Independent Director	11.2yrs	US$142.00k	0.073% $ 1.1m
Donald Poarch	Independent Director	10yrs	US$127.00k	0.35% $ 5.2m
Alicia Harrison	Independent Director	4.9yrs	US$127.00k	0.024% $ 359.0k

11.2yrs

Average Tenure

63yo

Average Age

Experienced Board: I3B's board of directors are seasoned and experienced ( 11.2 years average tenure).

Independent Bank Group Management

Management criteria checks 3/4

Key information

Recent management updates

Independent Bank Group, Inc. Approves the Appointment of Janet P. Froetscher as Director

Chairman of the Board & CEO recently bought €138k worth of stock

Insufficient new directors

Independent Bank Group, Inc. Appoints Dan Strodel as Executive Vice President and Chief Banking Officer

President & COO recently sold €99k worth of stock

Independent Bank Group, Inc. Announces Chief Financial Officer Changes

Recent updates

First quarter dividend of US$0.38 announced

First quarter 2024 earnings released: EPS: US$0.58 (vs US$0.91 loss in 1Q 2023)

Independent Bank Group, Inc. to Report Q1, 2024 Results on Apr 22, 2024

Full year 2023 earnings released: EPS: US$1.05 (vs US$4.71 in FY 2022)

Fourth quarter dividend of US$0.38 announced

Full year 2023 earnings released: EPS: US$1.05 (vs US$4.71 in FY 2022)

Independent Bank Group, Inc. Declares Quarterly Cash Dividend, Payable on February 15, 2024

Independent Bank Group, Inc. to Report Q4, 2023 Results on Jan 22, 2024

Investor sentiment improves as stock rises 15%

Third quarter 2023 earnings released: EPS: US$0.79 (vs US$1.27 in 3Q 2022)

Independent Bank Group, Inc. Declares Quarterly Cash Dividend, Payable on November 16, 2023

Independent Bank Group, Inc. to Report Q3, 2023 Results on Oct 23, 2023

Now 22% undervalued

Second quarter 2023 earnings released: EPS: US$0.80 (vs US$1.26 in 2Q 2022)

Independent Bank Group, Inc. Declares Quarterly Dividend, Payable on August 17, 2023

Investor sentiment improves as stock rises 19%

Independent Bank Group, Inc. to Report Q2, 2023 Results on Jul 24, 2023

Independent Bank Group, Inc. to Report Q2, 2023 Results on Jul 24, 2023

Investor sentiment improves as stock rises 19%

Independent Bank Group, Inc. Approves the Appointment of Janet P. Froetscher as Director

Investor sentiment improves as stock rises 16%

Chairman of the Board & CEO recently bought €138k worth of stock

Investor sentiment deteriorates as stock falls 16%

First quarter 2023 earnings released

Investor sentiment deteriorates as stock falls 15%

Full year 2022 earnings released: EPS: US$4.71 (vs US$5.22 in FY 2021)

Full year 2022 earnings released: EPS: US$4.77 (vs US$5.22 in FY 2021)

Independent Bank Group, Inc. (NasdaqGS:IBTX) announces an Equity Buyback for $125 million worth of its shares.

Independent Bank Group, Inc. to Report Q4, 2022 Results on Jan 23, 2023

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$1.27 (vs US$1.22 in 3Q 2021)

Independent Bank Group, Inc. Declares Quarterly Cash Dividend, Payable on November 17, 2022

Independent Bank Group, Inc. to Report Q3, 2022 Results on Oct 24, 2022

Independent Bank Group, Inc. Appoints Dan Strodel as Executive Vice President and Chief Banking Officer

President & COO recently sold €99k worth of stock

Independent Bank Group, Inc. Announces Chief Financial Officer Changes

Second quarter 2022 earnings released: EPS: US$1.27 (vs US$1.35 in 2Q 2021)

Independent Bank Group, Inc. Declares Quarterly Cash Dividend, Payable on August 18, 2022

Independent Bank Group, Inc. to Report Q2, 2022 Results on Jul 25, 2022

Executive VP & COO recently sold €59k worth of stock

Insufficient new directors

President & COO recently sold €177k worth of stock

Independent Bank Group, Inc. Announces Executive Changes

First quarter 2022 earnings released: EPS: US$1.19 (vs US$1.39 in 1Q 2021)

Independent Bank Group, Inc. Declares Quarterly Dividend, Payable on May 19, 2022

Independent Bank Group, Inc. to Report Q1, 2022 Results on Apr 25, 2022

Independent Bank Group, Inc., Annual General Meeting, May 26, 2022

Executive VP & COO recently sold €92k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Independent Director recently sold €185k worth of stock

Upcoming dividend of US$0.38 per share

Lead Independent Director recently sold €1.3m worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

President & COO recently sold €136k worth of stock

Third quarter 2021 earnings released: EPS US$1.22 (vs US$1.39 in 3Q 2020)

Executive VP & COO recently sold €74k worth of stock

Second quarter 2021 earnings released: EPS US$1.35 (vs US$0.90 in 2Q 2020)

Executive VP & General Counsel recently sold €896k worth of stock

First quarter 2021 earnings released: EPS US$1.39 (vs US$1.03 in 1Q 2020)

Independent Bank Group, Inc. Declares Quarterly Dividend, Payable on May 20, 2021

Executive VP & COO recently sold €99k worth of stock

New 90-day high: €63.50

Executive VP & CFO recently sold €119k worth of stock

Full year 2020 earnings released: EPS US$4.67 (vs US$4.46 in FY 2019)

Revenue beats expectations

New 90-day high: €57.00

Lead Independent Director recently sold €732k worth of stock

Full year 2020 earnings released: EPS US$4.67 (vs US$4.46 in FY 2019)

Revenue beats expectations