Veritex (VBTX) GlobeNewswire News Room·2025-01-28 21:30Core Viewpoint - Veritex Holdings, Inc. reported significant milestones in 2024, focusing on improving credit risk and profitability as it moves into 2025 [2]. Financial Highlights - For Q4 2024, net income was 31.001 million in Q3 2024 and up from 0.45, compared to 0.06 in Q4 2023 [3]. - The book value per common share remained stable at 28.18 in Q4 2023 [3]. - Return on average assets decreased to 0.78% in Q4 2024 from 0.96% in Q3 2024 and 0.11% in Q4 2023 [3]. - Return on average equity was 6.17% in Q4 2024, down from 7.79% in Q3 2024 and 0.92% in Q4 2023 [3]. - Net interest margin for Q4 2024 was 3.20%, down from 3.30% in Q3 2024 and 3.31% in Q4 2023 [3]. Operational Results - Net interest income before provision for credit losses for Q4 2024 was 100.1 million in Q3 2024 [5]. - Compared to Q4 2023, net interest income increased by 10.1 million, a decrease of 23.3% from 71.2 million, an increase of 1.6% from 100 million during 2024 [8]. - Nonperforming assets to total loans decreased to 0.62% from 0.77% in 2023 [15]. - The allowance for credit losses as a percentage of loans increased to 1.18% from 1.14% in 2023 [16]. Capital and Dividends - Common equity tier 1 capital increased by 80 basis points to 11.09% as of December 31, 2024 [8]. - A quarterly cash dividend of 8.90 billion at December 31, 2024, a decrease of 3.3% from the previous year [13]. - Total deposits were $10.75 billion, an increase of 4.0% year-over-year [14].