Group 1 - Veritex Holdings, Inc. plans to release its second quarter 2025 results after the market closes on July 22, 2025 [1] - An investor conference call to review the results will be held on July 23, 2025, at 8:30 a.m. Central Time [1] - Participants can access the live webcast of the conference call through Veritex's investor relations section [2] Group 2 - A replay of the conference call will be available approximately two hours after its completion and accessible for one week [3] - Veritex Holdings, Inc. is headquartered in Dallas, Texas, and operates through its wholly-owned subsidiary, Veritex Community Bank [4] - Veritex Community Bank is regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System [4]

Financial Data and Key Metrics Changes - The meeting confirmed that a quorum was present with 43,344,921 shares of common stock represented, indicating strong shareholder engagement [4] - The voting results showed that all 13 nominated directors were elected, reflecting shareholder confidence in the management team [8][9] Business Line Data and Key Metrics Changes - The meeting included discussions on the approval of the 2025 amended and restated omnibus incentive plan, which suggests a focus on aligning executive compensation with company performance [6] Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting Company Strategy and Development Direction - The company is focused on maintaining strong governance through the election of directors and the approval of compensation plans, which indicates a commitment to strategic oversight and alignment with shareholder interests [5][6] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting Other Important Information - The appointment of Grant Thornton LLP as the independent registered public accounting firm for the year ended 12/31/2025 was ratified, indicating a commitment to transparency and accountability in financial reporting [7][10] Q&A Session Summary Question: Were there any discussions on the performance of specific business lines? - No questions were raised regarding the performance of specific business lines during the meeting [11] Question: What are the future plans for executive compensation? - The proposal for a nonbinding advisory vote on the compensation of named executive officers was approved, indicating shareholder support for the current compensation strategy [6][10]

[Part I — Financial Information](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section provides the unaudited consolidated financial statements, management's discussion and analysis, market risk disclosures, and internal control evaluations for the company [Financial Statements – Unaudited](index=5&type=section&id=Item%201.%20Financial%20Statements%20%E2%80%93%20Unaudited) This section presents the unaudited consolidated financial statements, including balance sheets, income statements, cash flows, and notes, detailing the company's financial position and performance [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets were $12.61 billion, a slight decrease from $12.77 billion at December 31, 2024, primarily due to reduced loans held for investment Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$12,606,091** | **$12,768,341** | | Total LHI, net | $9,288,674 | $9,392,799 | | Total Deposits | $10,665,123 | $10,752,592 | | **Total Liabilities** | **$10,972,611** | **$11,167,272** | | **Total Stockholders' Equity** | **$1,633,480** | **$1,601,069** | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q1 2025 increased by 20.3% to $29.1 million, driven by higher net interest income and the absence of debt security sale losses compared to Q1 2024 Income Statement Summary (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Interest Income | $95,441 | $92,806 | | Provision for credit losses on loans | $4,000 | $7,500 | | Total Noninterest Income | $14,289 | $6,662 | | Total Noninterest Expense | $66,834 | $62,116 | | **Net Income** | **$29,070** | **$24,156** | | **Diluted EPS** | **$0.53** | **$0.44** | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was $43.6 million, while net cash used in financing activities totaled $183.7 million, resulting in a $5.4 million net decrease in cash and cash equivalents Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $43,577 | $44,269 | | Net cash provided by (used in) investing activities | $134,702 | $(237,123) | | Net cash (used in) provided by financing activities | $(183,689) | $304,560 | | **Net change in cash and cash equivalents** | **$(5,410)** | **$111,706** | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed disclosures on accounting policies, securities, loans, derivatives, and regulatory capital, highlighting key events like note redemption and stock buybacks - The company repurchased **377,346 shares** at a weighted average price of **$25.22 per share** during the three months ended March 31, 2025, under its stock buyback program[37](index=37&type=chunk) - In Q1 2025, the company redeemed **$75.0 million** of its 4.75% fixed-to-floating subordinated notes[74](index=74&type=chunk) - As of March 31, 2025, the company and the bank's capital ratios exceeded the levels necessary to be categorized as **'well capitalized'** under regulatory standards[117](index=117&type=chunk)[118](index=118&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes the company's financial condition and operational results, highlighting increased net income, asset changes, loan quality, and strong capital position [Results of Operations](index=42&type=section&id=Results%20of%20Operations) Net income for Q1 2025 increased to $29.1 million, driven by higher noninterest income and an improved net interest margin of 3.31% Quarterly Performance Comparison (in thousands) | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Income | $29,070 | $24,882 | $24,156 | | Diluted EPS | $0.53 | $0.45 | $0.44 | | Net Interest Income | $95,441 | $96,141 | $92,806 | | Net Interest Margin | 3.31% | 3.20% | 3.24% | - The increase in noninterest income in Q1 2025 compared to prior periods was significantly impacted by the absence of losses on debt security sales, which were present in both Q4 2024 (**$4.4M loss**) and Q1 2024 (**$6.3M loss**)[136](index=136&type=chunk)[157](index=157&type=chunk) [Financial Condition](index=54&type=section&id=Financial%20Condition) Total assets decreased to $12.61 billion due to a reduction in loans held for investment, while nonperforming assets increased to $96.9 million, and the allowance for credit losses remained stable - Total LHI decreased by **$104.5 million (1.1%)** to **$9.41 billion** as of March 31, 2025, compared to December 31, 2024[169](index=169&type=chunk) Nonperforming Assets (in thousands) | Metric | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total nonperforming loans | $72,633 | $54,435 | | OREO | $24,268 | $24,737 | | **Total nonperforming assets** | **$96,901** | **$79,172** | | Nonperforming assets to total assets | 0.77% | 0.62% | - The ACL on LHI was **$111.8 million**, or **1.19%** of total LHI, at March 31, 2025, compared to **$111.7 million**, or **1.18%** of total LHI, at December 31, 2024[179](index=179&type=chunk) [Liquidity and Capital Resources](index=61&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with significant borrowing capacity and increased stockholders' equity, while capital ratios remain well above regulatory minimums - As of March 31, 2025, the company had available borrowing capacity of **$2.48 billion** from the FHLB and **$3.09 billion** from the FRB[196](index=196&type=chunk)[197](index=197&type=chunk) - Total stockholders' equity increased by **2.0%** to **$1.63 billion** as of March 31, 2025, primarily due to **$29.1 million** in net income[205](index=205&type=chunk) - The company repurchased **377,346 shares** for **$9.5 million** in Q1 2025 and extended its **$50 million** stock buyback program through March 31, 2026[203](index=203&type=chunk)[204](index=204&type=chunk)[226](index=226&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=66&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages interest rate volatility as its primary market risk, with simulations showing a 100 basis point rate increase would raise net interest income by 3.34% Interest Rate Sensitivity Analysis (as of March 31, 2025) | Change in Interest Rates (BPS) | Percent Change in Net Interest Income | Percent Change in Fair Value of Equity | | :--- | :--- | :--- | | +300 | 8.11% | (11.81)% | | +200 | 5.75% | (7.18)% | | +100 | 3.34% | (3.13)% | | -100 | (2.47)% | 0.55% | | -200 | (4.81)% | (2.40)% | [Controls and Procedures](index=67&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of the end of the period covered by the report[219](index=219&type=chunk) - No material changes were made to the internal control over financial reporting during the quarter ended March 31, 2025[220](index=220&type=chunk) [Part II — Other Information](index=68&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, unregistered sales of equity securities, and a list of exhibits filed with the report [Legal Proceedings](index=68&type=section&id=Item%201.%20Legal%20Proceedings) Management believes it is remote that any current legal proceedings would have a material adverse effect on the company's financial condition, results of operations, or cash flows - In management's opinion, the likelihood of any pending legal proceedings having a **material adverse effect** on the company is remote[223](index=223&type=chunk) [Risk Factors](index=68&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes have occurred in the risk factors since the last Annual Report on Form 10-K[225](index=225&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=68&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 377,346 shares for $9.5 million in Q1 2025 and extended its $50 million stock buyback program through March 31, 2026 Share Repurchases for Q1 2025 | Period | Total Shares Purchased | Average Price Paid per Share | Total Cost (in thousands) | | :--- | :--- | :--- | :--- | | Jan 2025 | — | — | — | | Feb 2025 | 177,346 | $25.98 | $4,608 | | Mar 2025 | 200,000 | $24.54 | $4,908 | | **Total** | **377,346** | **$25.22** | **$9,516** | - On March 25, 2025, the Board authorized the extension of the Stock Buyback Program through March 31, 2026. As of March 31, 2025, approximately **$36.9 million** remained available for repurchase under the program[226](index=226&type=chunk) [Exhibits](index=69&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including certifications by the Principal Executive Officer and Principal Financial Officer, and Inline XBRL data files - Exhibits filed include CEO and CFO certifications pursuant to Sarbanes-Oxley Sections 302 and 906, and financial statements formatted in Inline XBRL[227](index=227&type=chunk)

Financial Data and Key Metrics Changes - The company reported a net operating profit of $29 million, or $0.54 per share, with pre-tax, pre-provision earnings at $43.4 million, or 1.41% [7] - Total loans decreased by $125 million, or 5% annualized, with average balances down $135 million compared to Q4 [8] - The tangible book value per share increased to $22.33, up from $21.61 at year-end, representing a 13.8% year-over-year increase [19] Business Line Data and Key Metrics Changes - Gross loan production for Q1 was $750 million, with only 31% funded, while production over the last four quarters exceeded $2.8 billion, a 130% increase year-over-year [9][10] - Operating non-interest income increased by 2.4% to $14.8 million on a linked quarter basis, with fee income as a percentage of total revenue rising to 13.4% in Q1 2025 from 12.3% in Q1 2024 [37] Market Data and Key Metrics Changes - The loan-to-deposit ratio improved from 104% to 89% over the last two years, with a target to remain below 90% going forward [27] - Wholesale funding reliance decreased to 13.7%, down from over 24% in the same period last year [28] Company Strategy and Development Direction - The company aims to achieve a return on average assets (ROAA) exceeding 1% in the latter half of the year, focusing on disciplined loan growth despite current challenges [8] - The bank has increased its quarterly dividend by 10% to $0.22 per share, indicating confidence in its growth outlook and capital generation [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future loan growth, anticipating flat loan totals for the year but expecting significant growth in 2026 due to a strong pipeline [55][56] - The company is committed to managing its balance sheet and capital effectively amidst economic uncertainties, focusing on shareholder value [40] Other Important Information - Non-performing assets increased from $79 million at year-end to $97 million, primarily due to two loans in retail and office sectors [13] - The company repurchased 377,000 shares during the quarter, with $37 million remaining on the authorization for further buybacks [21] Q&A Session Summary Question: Insights on deposit growth and DDA stickiness - Management noted that deposit growth was influenced by seasonality and new customer attrition, with DDA showing some outflows during Q4 [46] Question: Future expense outlook - Management indicated that expenses are expected to rise slightly due to investments in new hires, but overall attention to expenses remains high [50][52] Question: Loan growth expectations - Management anticipates flat loan growth for the year, with a strong pipeline suggesting growth in 2026 [55][56] Question: Outlook on government guaranteed business - Management remains bullish on the government guaranteed business, particularly in the SBA space, with a strong pipeline expected to ramp up [90][91] Question: Trends in credit quality - Management confirmed that strategies are in place to address non-accrual loans, with confidence in resolving these issues by early third quarter [136]

Veritex Holdings, Inc. First Quarter 2025 Results Investor Presentation April 23, 2025 NASDAQ: VBTX A BETTER STATE OF BANKING © 2025 Veritex Bank Member FDIC Forward-Looking Statements This presentation includes "forward-looking statements", within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties ...

Financial Data and Key Metrics Changes - The company reported a net operating profit of $29 million or $0.54 per share for the quarter, with pretax pre-provision earnings at $43.4 million or 1.41% [4] - Total loans decreased by $125 million or 5% annualized, while average balances were down $135 million compared to Q4 [5] - The tangible book value per share increased to $22.33, up from $21.61 at year-end, marking a 13.8% year-over-year increase [16] - The net interest margin (NIM) increased by 11 basis points to 3.31% [25] Business Line Data and Key Metrics Changes - Gross loan production for Q1 was $750 million, with only 31% or $237 million funded [6] - Operating non-interest income increased by 2.4% to $14.8 million on a linked quarter basis, with fee income as a percentage of total revenue rising to 13.4% [29] - Operating non-interest expense declined by $2.8 million for the quarter, leading to an operating efficiency ratio of 60.4% [30] Market Data and Key Metrics Changes - The company moved out over $440 million in wholesale funding during the quarter, reducing reliance on higher-cost deposits [7] - The loan-to-deposit ratio decreased from 104% to 89% over the last two years, with a target to remain below 90% going forward [12][22] Company Strategy and Development Direction - The company aims to achieve a return on assets (ROA) exceeding 1% in the latter half of the year, focusing on disciplined loan growth despite current challenges [5] - The bank plans to continue reducing reliance on unattractively priced deposits and is actively managing its capital and liquidity [14][31] - The company has increased its quarterly dividend by 10% to $0.22 per share, reflecting confidence in its growth outlook and capital generation [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future loan growth, citing a significant increase in loan production over the past year, which is expected to translate into growth in 2026 and beyond [20][42] - The management acknowledged the challenges posed by economic uncertainties, including tariffs and interest rates, but remains committed to delivering value to shareholders [33] - The company is focused on maintaining a conservative allowance for credit losses, with 65% of the weighting on downside scenarios in its economic modeling [18] Other Important Information - The company repurchased 377,000 shares during the quarter, with $37 million remaining on the authorization for further buybacks [17] - Nonperforming assets increased from $79 million at year-end to $97 million, primarily due to two loans in retail and office sectors [10] Q&A Session Summary Question: What is the outlook for deposits and their stickiness? - Management noted that some deposit fluctuations are seasonal, with good work by banking teams contributing to core deposit growth [35] Question: What are the expectations for expenses moving forward? - Management indicated that while expenses are expected to rise slightly due to new hires, there is a strong focus on managing overall costs [37][40] Question: What is the updated outlook for loan growth? - Management anticipates flat loan growth for the year, with potential for improvement in the second half based on pipeline strength [42][43] Question: How does the company view the government-guaranteed business? - Management remains bullish on the government-guaranteed business, expecting it to outperform in the latter half of the year [70][78] Question: What is the strategy regarding the securities portfolio and reinvestment? - The company is currently using cash flows to pay down wholesale funding but will become more active in investments once loan growth picks up [106] Question: What is the outlook for credit trends and non-accrual loans? - Management expressed confidence in managing non-accrual loans, with strategies in place to resolve them by early third quarter [117]

Core Insights - Veritex Holdings (VBTX) reported revenue of $109.73 million for Q1 2025, reflecting a year-over-year increase of 10.3% [1] - The company's EPS for the quarter was $0.54, slightly up from $0.53 in the same quarter last year, with an EPS surprise of +5.88% against a consensus estimate of $0.51 [1] - The reported revenue fell short of the Zacks Consensus Estimate of $110.7 million, resulting in a surprise of -0.88% [1] Financial Performance Metrics - Efficiency Ratio (GAAP) was reported at 60.9%, better than the estimated 61.5% [4] - Net charge-offs to average loans outstanding were 0.2%, outperforming the estimated 0.3% [4] - Net Interest Margin stood at 3.3%, matching the average estimate [4] - Total nonperforming loans (NPLs) amounted to $72.63 million, exceeding the average estimate of $57.03 million [4] - Total nonperforming assets (NPAs) were reported at $96.90 million, higher than the estimated $86.71 million [4] - Average Outstanding Balance of total interest-earning assets was $11.68 billion, below the estimated $11.88 billion [4] - Total Noninterest Income was $14.29 million, slightly below the average estimate of $14.60 million [4] - Net Interest Income was reported at $95.44 million, also below the average estimate of $96.11 million [4] Stock Performance - Over the past month, shares of Veritex Holdings have returned -14.4%, compared to a -8.9% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Veritex Holdings (VBTX) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 5.88%. A quarter ago, it was expected that this bank holding company would post earnings of $0.56 per share when it actually produced earnings of $0.54, delivering a surprise of -3.57%. Over the last four quarter ...

Financial Performance - Net income for Q1 2025 was $29.07 million, an increase of 16.4% from $24.88 million in Q4 2024 and 20.0% from $24.16 million in Q1 2024[2] - Diluted EPS rose to $0.53 in Q1 2025, compared to $0.45 in Q4 2024 and $0.44 in Q1 2024[2] - Basic EPS for Q1 2025 was $0.53, an increase from $0.44 in Q1 2024, representing a 20.5% year-over-year growth[23] - Net income increased to $29,070 thousand for the quarter ended March 31, 2025, compared to $24,882 thousand in the prior quarter, reflecting a growth of 16.4%[27] - The operating pre-tax income for the same quarter was $29,587,000, compared to $30,824,000 in the prior quarter[54] - The diluted EPS for the quarter was $0.53, up from $0.45 in the previous quarter[54] Income and Expenses - Noninterest income for Q1 2025 was $14.3 million, an increase of 42.1% from Q4 2024[6] - Noninterest expense decreased to $66.8 million, down 6.1% from $71.2 million in Q4 2024[8] - Total noninterest income rose to $14,289 thousand in Q1 2025, compared to $10,056 thousand in Q4 2024, an increase of 42.1%[27] - Operating noninterest expense was $66,834,000, a decrease from $71,194,000 in the previous quarter[56] Asset Quality - The allowance for credit losses (ACL) as a percentage of LHI was 1.19% as of March 31, 2025, compared to 1.18% at December 31, 2024[14] - Criticized assets decreased by approximately $17.7 million during the quarter[3] - Net charge-offs to average loans outstanding decreased to 0.17% in Q1 2025 from 0.22% in Q1 2024, indicating better credit quality[23] - Nonperforming assets (NPAs) totaled $96,901 thousand, an increase from $79,172 thousand at December 31, 2024, indicating a rise of 22.9%[36] - The net charge-offs for the quarter were $(3,972) thousand, down from $(7,717) thousand in the previous quarter, indicating an improvement in asset quality[36] - The ratio of NPAs to total assets was 0.77% as of March 31, 2025, up from 0.62% at December 31, 2024, highlighting a deterioration in asset quality[36] Capital and Equity - Tier 1 capital to risk-weighted assets was 11.31% in Q1 2025, slightly down from 11.36% in Q4 2024, maintaining strong capital adequacy[23] - Total capital to risk-weighted assets ratio was 13.46% in Q1 2025, compared to 13.96% in Q4 2024, reflecting a stable capital position[23] - Stockholders' equity increased to $1,620,788 thousand as of March 31, 2025, compared to $1,604,335 thousand at the end of 2024[29] - As of March 31, 2025, total stockholders' equity was $1,633,480,000, an increase from $1,601,069,000 as of December 31, 2024[42] - Tangible common equity as of March 31, 2025, was $1,212,722,000, compared to $1,177,873,000 as of December 31, 2024, reflecting a growth of 2.9%[42] Efficiency and Ratios - The efficiency ratio improved to 60.91% in Q1 2025 compared to 62.45% in Q1 2024, indicating enhanced operational efficiency[23] - The average yield on loans decreased to 6.40% in Q1 2025 from 6.56% in Q4 2024, while the average yield on debt securities increased to 4.73% from 4.61%[31] - The net interest rate spread improved to 2.24% in Q1 2025, compared to 2.03% in Q4 2024, indicating better profitability on interest-earning assets[31] - The pre-tax, pre-provision operating return on average assets was 1.41%, an increase from 1.28% in the previous quarter[56] - The operating return on average tangible common equity was 10.70%, up from 10.69% in the previous quarter[56] Loans and Deposits - Total loans held for investment (LHI) decreased to $8.83 billion, down $70.5 million from December 31, 2024[11] - Total deposits were $10.67 billion, a decrease of $87.5 million, or 3.3%, linked quarter annualized[12] - Total loans increased to $9,478,283 thousand as of March 31, 2025, compared to $9,602,835 thousand at December 31, 2024, reflecting a decrease of 1.3%[34] - Total deposits decreased to $10,665,123 thousand as of March 31, 2025, down from $10,752,592 thousand at December 31, 2024, a decline of 0.81%[25] - The total loans to deposits ratio was 88.9% as of March 31, 2025, slightly down from 89.3% at December 31, 2024[34] Dividends - The company declared a quarterly cash dividend of $0.22 per share, payable on May 22, 2025[15] - Dividends paid per common share increased to $0.22 in Q1 2025 from $0.20 in Q4 2024, marking a 10.0% increase[23]

DALLAS, April 22, 2025 (GLOBE NEWSWIRE) -- Veritex Holdings, Inc. (“Veritex”, the “Company”, “we” or “our”) (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the quarter ended March 31, 2025. “We continue to strengthen our balance sheet in support of our clients during a time of change and uncertainty,” said C. Malcolm Holland, III, the Company’s Chairman and Chief Executive Officer. “Key operating financial and credit performance metrics continue to improve and ...