Great Western Bancorp, Inc. Purchases Trust Assets of Independent Bank

Great Western Bank, a wholly owned subsidiary of Great Western Bancorp, Inc. (NYSE: GWB), announced today that it has closed on its transaction to purchase and assume the management of the trust assets of Independent Bank acquired through its acquisition of Guaranty Bank and Trust Company in Colorado. Independent Bank is a wholly owned subsidiary of Independent Bank Group, Inc. (NASDAQ: IBTX).

As of September 30, 2019, Independent Bank’s Trust Department located in Colorado had approximately $306.0 million in assets held in fiduciary or agency capacities. Jane Cox, previous Senior Vice President and Senior Trust Manager of Independent Bank’s Trust Department, has joined Great Western Bank together with several other trust department employees of Independent Bank. As of June 30, 2019, Great Western Bank had approximately $1.3 billion in assets under administration.

"We welcome our new customers and are excited to provide them with the same excellent level of performance and attention to which they are accustomed. With a combined $1.6 billion trust business, we will offer a compelling combination of sophistication and personal service," said Ken Karels, President, CEO and Chairperson of the Board of Great Western Bank.

About Great Western Bancorp, Inc.

Great Western Bancorp, Inc. is the holding company for Great Western Bank, a full-service regional bank focused on relationship-based business and agribusiness banking. Great Western Bank offers small and mid-sized businesses a focused suite of financial products and a range of deposit and loan products to retail customers through several channels, including the branch network, online banking system, mobile banking applications and customer care centers. The bank services its customers with over 170 branches in attractive markets across nine states: South Dakota, Iowa, Nebraska, Colorado, Arizona, Kansas, Missouri, North Dakota and Minnesota. To learn more about Great Western Bank visit www.greatwesternbank.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements about Great Western Bancorp, Inc.’s expectations, beliefs, plans, strategies, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipates,” "believes,” "can,” "could,” "may,” "predicts,” "potential,” "should,” "will,” "estimate,” "plans,” "projects,” "continuing,” "ongoing,” "expects,” "views,” "intends” and similar words or phrases. In particular, the statements included in this press release concerning Great Western Bancorp, Inc.’s expected performance and strategy, the outlook for its agricultural lending segment and the interest rate environment are not historical facts and are forward-looking. Accordingly, the forward-looking statements in this press release are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Any forward-looking statements are qualified in their entirety by reference to the factors discussed in the sections titled "Item 1A. Risk Factors” and "Cautionary Note Regarding Forward-Looking Statements" in Great Western Bancorp, Inc.’s Annual Report on Form 10-K for the most recently ended fiscal year, and in other periodic filings with the Securities and Exchange Commission. Further, any forward-looking statement speaks only as of the date on which it is made, and Great Western Bancorp, Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

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