McKINNEY, Texas, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Independent Bank Group, Inc. (Nasdaq:IBTX), the holding company for Independent Bank, today announced that it has priced the underwritten public offering of $30 million aggregate principal amount of its Fixed-to-Floating Rate Subordinated Notes due December 31, 2027. The Notes will initially bear a fixed interest rate of 5.00% per year. Commencing on December 31, 2022, the interest rate on the Notes will reset on a quarterly basis to the three-month LIBOR rate plus a spread of 283 basis points, payable quarterly in arrears. The offering is expected to fund on December 19, 2017, 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.

Piper Jaffray & Co. and U.S. Bancorp Investments, Inc. are joint book-running managers for the offering.

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, Texas and the Colorado Front Range areas.