{"id":725476,"date":"2023-01-24T16:14:49","date_gmt":"2023-01-24T21:14:49","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/veritex-holdings-inc-reports-fourth-quarter-and-full-year-2022-results\/"},"modified":"2023-01-24T16:14:49","modified_gmt":"2023-01-24T21:14:49","slug":"veritex-holdings-inc-reports-fourth-quarter-and-full-year-2022-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/veritex-holdings-inc-reports-fourth-quarter-and-full-year-2022-results\/","title":{"rendered":"Veritex Holdings, Inc. Reports Fourth Quarter and Full Year 2022 Results"},"content":{"rendered":"
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DALLAS, Jan. 24, 2023 (GLOBE NEWSWIRE) — Veritex Holdings,\u00a0Inc. (\u201cVeritex\u201d or the \u201cCompany\u201d) (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the fourth quarter and full year of 2022.<\/p>\n

“Today we reported strong 2022 performance metrics with $216 million in pre-tax pre-provision earnings, or 1.97% on average assets, 1.35% operating return on average assets, 16% return on average tangible common equity and an efficiency ratio below 50% for the 5th consecutive year,” said C. Malcolm Holland, III, Veritex President and Chief Executive Officer. “We generated 34% growth in loans, 24% growth in deposits, completed an oversubscribed common stock offering and expanded relationships and new customers. Looking towards 2023, we remain focused on credit discipline, lending in portfolios that align with our core deposit priorities and delivering strong financial results.”<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n Financial Highlights<\/em>
\n <\/strong>\n <\/td>\n		\n Fourth Quarter
2022<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Third Quarter
2022<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Fourth Quarter
2021<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n Full Year
<\/strong>
\n 2022<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Full Year
<\/strong>
\n 2021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n (Dollars in thousands, except per share data)<\/strong>
\n
\n (unaudited)<\/strong>\n <\/td>\n<\/tr>\n
\n GAAP<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n39,897<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n43,322<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n41,506<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n146,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n139,584<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted EPS<\/td>\n\u00a0<\/td>\n0.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.77<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book value per common share<\/td>\n\u00a0<\/td>\n26.83<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.83<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.64<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average assets2<\/sup><\/td>\n\u00a0<\/td>\n1.35<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.50<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.68<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.33<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.49<\/td>\n%<\/td>\n<\/tr>\n
Efficiency ratio<\/td>\n\u00a0<\/td>\n47.63<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49.45<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average equity2<\/sup><\/td>\n\u00a0<\/td>\n11.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.01<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP<\/strong>
\n
\n 1<\/strong>
\n <\/sup>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating earnings<\/td>\n$<\/td>\n40,395<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n43,625<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n42,410<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n147,889<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n139,647<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted operating EPS<\/td>\n\u00a0<\/td>\n0.74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.77<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible book value per common share<\/td>\n\u00a0<\/td>\n18.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.49<\/td>\n\u00a0<\/td>\n<\/tr>\n
Pre-tax, pre-provision operating earnings<\/td>\n\u00a0<\/td>\n63,694<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63,454<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48,640<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216,413<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n171,205<\/td>\n\u00a0<\/td>\n<\/tr>\n
Pre-tax, pre-provision operating return on average assets2<\/sup><\/td>\n\u00a0<\/td>\n2.15<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.20<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.97<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.97<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.83<\/td>\n%<\/td>\n<\/tr>\n
Operating return on average assets2<\/sup><\/td>\n\u00a0<\/td>\n1.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.35<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.49<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating efficiency ratio<\/td>\n\u00a0<\/td>\n47.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49.27<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible common equity2<\/sup><\/td>\n\u00a0<\/td>\n16.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.78<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.57<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating return on average tangible common equity2<\/sup><\/td>\n\u00a0<\/td>\n16.95<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.94<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.94<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.58<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n 1 <\/sup>Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures.
2 <\/sup>Annualized ratio.<\/p>\n

\n Other Fourth Quarter and <\/strong>
\n 2022<\/strong>
\n Highlights:<\/strong>\n <\/p>\n