Independent Bank (US:IBTX)2020-04-28 13:17Financial Performance - Total assets reached $15573868 thousand, a 4.1% increase linked quarter and a 10.1% increase annually[10] - Net interest income was $123241 thousand, a decrease of 3.8% linked quarter but an increase of 1.3% annually[11] - Net income was $44167 thousand, a decrease of 12.1% linked quarter but an increase of 18.9% annually[11] - The adjusted efficiency ratio was 51.17%[15] Loan Portfolio - Total loans held for investment, excluding mortgage warehouse purchase loans, amounted to $11020920 thousand, reflecting a 0.8% increase linked quarter and a 3.1% increase annually[10] - Mortgage warehouse purchase loans totaled $796609 thousand, a 15.9% increase linked quarter and a significant 217.0% increase annually[10] - The company originated over 4600 PPP loans totaling over $730 million for existing customers as of April 27, 2020[6] - The adjusted loan yield was 5.09% YTD[17] Capital and Liquidity - The estimated total capital ratio was 12.05%, the leverage ratio was 9.67%, and the tangible common equity (TCE) ratio was 8.94% as of March 31, 2020[8] - Cash and securities represented approximately 13.1% of assets as of March 31, 2020[9] COVID-19 Response - The company donated $100000 to support food banks, providing 355000 meals[7]