INDB - Independent Bank CEO to step down as President replacement also promoted as COO

Independent Bank (NASDAQ:IBTX), the parent company of Independent Bank (NASDAQ:INDB), appointed Michael Hobbs as President and COO, effective October 1. Hobbs replaces David Brooks as President who will remain Chairman and CEO. The company said the promotion of Hobbs will support the continued development of its infrastructure and organic growth, while enabling Brooks to focus on the company’s strategic vision and culture. Hobbs will continue to oversee the bank’s lending function as well as supervising many aspects of daily operations. Hobbs previously served as Independent Bank's Executive Vice President and Chief Banking Officer.

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Independent Bank CEO to step down as President, replacement also promoted as COO