Veritex Holdings Stock Price, News & Analysis

Veritex Holdings reported strong Q2 2022 results, achieving a 1.76% pre-tax, pre-provision operating return on average assets. Net income was $29.6 million, down from $33.5 million in Q1 2022, with a diluted EPS of $0.54. Total loans held for investment grew 44.4% annualized, reaching $7.9 billion, while total deposits increased by 31.8% to $8.5 billion. The company declared a quarterly cash dividend of $0.20 per share, payable on August 26, 2022. Asset quality improved with non-performing assets decreasing to 0.40%.

Veritex Community Bank is expanding its Small Business Loan department to meet the rising demand for SBA loans, reflecting growth within Texas's small business sector. The bank, among the top SBA preferred lenders, offers various lending options, including SBA 7(a) and 504 loans. With Texas ranking second in the U.S. for small businesses, Veritex aims to support job creation and economic stability. The bank is also enhancing its outreach to women-owned businesses through its Women in Business program. Veritex is recognized as one of Fortune’s 100 Fastest Growing Companies for 2020 and 2021.

Veritex Holdings, Inc. (Nasdaq: VBTX) plans to release its Q2 2022 earnings on July 27, 2022, before market opening. An investor conference call will follow at 8:30 a.m. Central Time on the same day to discuss the results. The earnings release and the call can be accessed via the company's website. A replay of the call will be available shortly after its conclusion for one week.

Veritex operates through its subsidiary, Veritex Community Bank, servicing the Dallas-Fort Worth and Houston areas.

DALLAS and HOUSTON, May 16, 2022 - Phil Donnelly has joined Veritex Community Bank as Senior Executive Vice President and General Counsel, bringing over 32 years of experience in financial services. He will lead the legal team and manage corporate governance, compliance, and regulatory matters. Donnelly previously held key roles in various banks and was pivotal in acquiring nine banks, forming a $10 billion financial institution. CEO C. Malcolm Holland praised his extensive expertise in regulatory, M&A, and corporate governance, stating that Donnelly will strengthen the bank's strategic initiatives.

Veritex Holdings, Inc. (Nasdaq: VBTX) has declared a quarterly cash dividend of $0.20 per share on its common stock. This dividend will be paid on or after May 27, 2022, to shareholders of record as of May 13, 2022. Veritex operates through its wholly-owned subsidiary, Veritex Community Bank, with a presence in the Dallas-Fort Worth and Houston areas.

Veritex Holdings (Nasdaq: VBTX) reported strong financial results for Q1 2022, with diluted EPS at $0.66 and annualized loan growth of 21%. Total deposits increased by 29%, reaching $7.9 billion. Despite a drop in GAAP net income to $33.5 million from $41.5 million in Q4 2021, the company’s return on average assets was 1.36%. Noninterest income fell 6.5% compared to the previous quarter, while noninterest expenses rose by 3.3%. Veritex announced a quarterly dividend of $0.20 per share and is set to acquire interLINK for enhanced liquidity and deposit growth.

Veritex Community Bank has made significant leadership appointments to enhance its focus on middle-market banking, commercial real estate, and private banking. William Ray Jr., Brent Reed, and Will Richardson join the bank from Bank of Houston, bringing extensive banking experience.

Ray will lead middle-market banking, while Reed focuses on commercial real estate, which constitutes 45% of the bank's loan portfolio. Richardson is tasked with expanding private banking services, capitalizing on recent growth in this sector. Veritex has committed to growing its Houston market presence since 2019.

Veritex Holdings, Inc. (Nasdaq: VBTX) will release its first quarter 2022 financial results on April 26, 2022, post-market close. An investor conference call will follow on April 27, 2022, at 8:30 a.m. Central Time. Interested parties can pre-register for the call via the company's website, where they will also find the earnings release. A live webcast of the call will be available, along with an audio replay after the call, accessible until May 4, 2022.

On March 3, 2022, Veritex Holdings (Nasdaq: VBTX) announced a public offering of 3,947,369 shares of common stock, priced at $38.00 per share, aiming for gross proceeds of approximately $150 million. After underwriting discounts, the net proceeds are expected to be around $141.8 million. The proceeds will support general corporate purposes, including growth and strategic acquisitions. The offering, managed by Keefe, Bruyette & Woods and Goldman Sachs, is subject to customary closing conditions and is expected to close on or about March 8, 2022.