Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Independent Bank Group, Inc. |
Entity Central Index Key | 0001564618 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Value of Initial Fixed $100 Investment Based on: Year Summary Compensation Table Total for CEO (1) Compensation Actually Paid to CEO (2) Average Summary Compensation Table Total for Other NEOs (1) Average Compensation Actually Paid to Other NEOs (2) Company Total Shareholder Return (3) Peer Group Total Shareholder Return (4) Net Income (in thousands) (5) Adjusted ROTCE (6) 2022 $ 3,350,562 $ 2,559,206 $ 1,457,215 $ 1,205,759 $ 115.63 $ 97.52 $ 196,291 15.20 % 2021 2,728,746 3,569,646 1,190,759 1,458,062 135.89 124.06 224,750 15.46 2020 4,298,189 5,706,438 1,790,026 2,354,469 115.62 89.69 201,209 15.58 | ||
Company Selected Measure Name | adjusted return on tangible common equity (ROTCE) | ||
Named Executive Officers, Footnote [Text Block] | The amounts shown above represent "compensation actually paid" to the CEO and to Other Named Executive Officers for each corresponding year. In accordance with the requirements of Item 402(v) of Regulation S-K, we calculated compensation actually paid by making certain required adjustments to total compensation as reported in the Summary Compensation Table as shown in the table below. The fair values of outstanding performance stock units are based on the same methodology used to account for such awards in our financial statements under generally accepted accounting principles and consider the probable outcomes of the underlying performance conditions. David R. Brooks served as our CEO for the entirety of 2022, 2021 and 2020. The Other NEOs included in this calculation for each year are as follows: 2022 - Paul B. Langdale, Michael B. Hobbs, Daniel W. Brooks, John G. Turpen and Michelle S. Hickox; 2021 - Michelle S. Hickox, Michael B. Hobbs, Daniel W. Brooks and John G. Turpen; 2020 - Michelle S. Hickox, Michael B. Hobbs, Daniel W. Brooks, and Mark S. Haynie. | ||
Peer Group Issuers, Footnote [Text Block] | The amounts shown above represent the cumulative peer group TSR on an assumed investment of $100, weighted according to the respective peer group companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the KBW Nasdaq Bank Index included in our Annual Report on Form 10-K. | ||
PEO Total Compensation Amount | $ 3,350,562 | $ 2,728,746 | $ 4,298,189 |
PEO Actually Paid Compensation Amount | $ 2,559,206 | 3,569,646 | 5,706,438 |
Adjustment To PEO Compensation, Footnote [Text Block] | CEO Other NEOs 2022 2021 2020 2022 2021 2020 Summary Compensation Table Total Compensation $ 3,350,562 $ 2,728,746 $ 4,298,189 $ 1,457,215 $ 1,190,759 $ 1,790,026 Grant Date Fair Value of Stock Awards Granted in Fiscal Year (1,051,870) (1,049,717) (2,684,787) (362,522) (411,937) (992,630) Fair Value at Fiscal Year End of Equity Awards Granted in Fiscal Year 854,698 1,210,244 3,990,214 299,979 455,447 1,524,269 Dividends Deferred on Unvested Shares 64,633 49,087 15,840 16,548 14,611 5,638 Change in Fair Value from Prior Year End to Current Year End of Unvested Equity Awards Granted in Prior Years (695,884) 566,523 92,585 (181,127) 184,415 33,892 Change in Fair Value from Prior Year End to Vesting Date of Equity Awards Vested in Current Year 37,067 64,763 (5,603) (24,334) 24,767 (6,726) Compensation Actually Paid $ 2,559,206 $ 3,569,646 $ 5,706,438 $ 1,205,759 $ 1,458,062 $ 2,354,469 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,457,215 | 1,190,759 | 1,790,026 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,205,759 | 1,458,062 | 2,354,469 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | CEO Other NEOs 2022 2021 2020 2022 2021 2020 Summary Compensation Table Total Compensation $ 3,350,562 $ 2,728,746 $ 4,298,189 $ 1,457,215 $ 1,190,759 $ 1,790,026 Grant Date Fair Value of Stock Awards Granted in Fiscal Year (1,051,870) (1,049,717) (2,684,787) (362,522) (411,937) (992,630) Fair Value at Fiscal Year End of Equity Awards Granted in Fiscal Year 854,698 1,210,244 3,990,214 299,979 455,447 1,524,269 Dividends Deferred on Unvested Shares 64,633 49,087 15,840 16,548 14,611 5,638 Change in Fair Value from Prior Year End to Current Year End of Unvested Equity Awards Granted in Prior Years (695,884) 566,523 92,585 (181,127) 184,415 33,892 Change in Fair Value from Prior Year End to Vesting Date of Equity Awards Vested in Current Year 37,067 64,763 (5,603) (24,334) 24,767 (6,726) Compensation Actually Paid $ 2,559,206 $ 3,569,646 $ 5,706,438 $ 1,205,759 $ 1,458,062 $ 2,354,469 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | The chart below shows the relationship between compensation actually paid to our CEO and the average of the compensation actually paid to our Other NEOs and our cumulative TSR over the three most recently completed fiscal years. In addition, the table below shows the relationship between our cumulative TSR and our peer group TSR over that same period. | ||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | The following chart shows the relationship between compensation actually paid to our CEO, the average of compensation actually paid to our Other NEOs, and the adjusted return on tangible common equity over the three most recently completed fiscal years. | ||
Total Shareholder Return Vs Peer Group [Text Block] | The chart below shows the relationship between compensation actually paid to our CEO and the average of the compensation actually paid to our Other NEOs and our cumulative TSR over the three most recently completed fiscal years. In addition, the table below shows the relationship between our cumulative TSR and our peer group TSR over that same period. | ||
Tabular List [Table Text Block] | Adjusted (Non-GAAP) Return on Tangible Common Equity (ROTCE) Adjusted (Non-GAAP) EPS Adjusted (Non-GAAP) Efficiency Ratio Non-Performing Assets | ||
Total Shareholder Return Amount | $ 115.63 | 135.89 | 115.62 |
Peer Group Total Shareholder Return Amount | 97.52 | 124.06 | 89.69 |
Net Income (Loss) | $ 196,291,000 | $ 224,750,000 | $ 201,209,000 |
Company Selected Measure Amount | 0.1520 | 0.1546 | 0.1558 |
PEO Name | David R. Brooks | David R. Brooks | David R. Brooks |
Additional 402(v) Disclosure [Text Block] | The amounts shown above represent Total Compensation reported for the CEO and the average of the amounts reported for the Other Named Executive Officers in the “Total” column of the Summary Compensation Table for each applicable year.The amounts shown above represent the Company’s cumulative total shareholder return (TSR) on an assumed investment of $100 in shares of Company common stock over the indicated measurement period. The cumulative TSR reported above is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between our share price at the end and the beginning of the indicated measurement period by our share price at the beginning of the measurement period.Net income attributable to Independent Bank Group, Inc. as reported in the Company’s consolidated financial statements included in our 2022 Annual Report on Form 10-K. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted (Non-GAAP) Return on Tangible Common Equity (ROTCE) | ||
Non-GAAP Measure Description [Text Block] | Although the Company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that adjusted return on tangible common equity (ROTCE) is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to Company performance. ROTCE is a non-GAAP financial measure and is calculated as the adjusted net income divided by average tangible common equity. Adjusted net income includes adjustments for extraordinary items such as gain/loss on sale of assets; recoveries on loans charged off prior to an acquisition; other real estate and other asset impairment; acquisition expenses; and non-recurring executive and departmental restructuring separation costs. Average common equity excludes average balances of goodwill and other net intangible assets. | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted (Non-GAAP) EPS | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted (Non-GAAP) Efficiency Ratio | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Non-Performing Assets | ||
PEO [Member] | Stock Awards Granted During the Year, Fair Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (1,051,870) | $ (1,049,717) | $ (2,684,787) |
PEO [Member] | Stock Awards Granted During Year, Outstanding, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 854,698 | 1,210,244 | 3,990,214 |
PEO [Member] | Dividends Deferred on Unvested Shares [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 64,633 | 49,087 | 15,840 |
PEO [Member] | Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (695,884) | 566,523 | 92,585 |
PEO [Member] | Change in Fair Value of Stock Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 37,067 | 64,763 | (5,603) |
Non-PEO NEO [Member] | Stock Awards Granted During the Year, Fair Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (362,522) | (411,937) | (992,630) |
Non-PEO NEO [Member] | Stock Awards Granted During Year, Outstanding, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 299,979 | 455,447 | 1,524,269 |
Non-PEO NEO [Member] | Dividends Deferred on Unvested Shares [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 16,548 | 14,611 | 5,638 |
Non-PEO NEO [Member] | Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (181,127) | 184,415 | 33,892 |
Non-PEO NEO [Member] | Change in Fair Value of Stock Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (24,334) | $ 24,767 | $ (6,726) |