VBTX - Veritex Non-GAAP EPS of $0.79 beats by $0.06 revenue of $116.92M misses by $0.81M

2023-04-25 16:48:48 ET

• Veritex press release ( NASDAQ: VBTX ): Q1 Non-GAAP EPS of $0.79 beats by $0.06 .
• Revenue of $116.92M (+32.7% Y/Y) misses by $0.81M .
• Tangible book value per common share increased to $19.43 during the three months ended March 31, 2023 compared to $18.64 for the three months ended December 31, 2022 and $18.51 for the three months ended March 31, 2022;
• Non-performing assets (“NPAs”) to total assets decreased to 0.35%, or 1 bps from December 31, 2022 and 11 bps from March 31, 2022, respectively;
• Annualized net charge-offs to average loans outstanding were 4 bps for the first quarter of 2023 compared to 28 bps for the three months ended December 31, 2022;
• Total loans held for investment (“LHI”), excluding mortgage warehouse (“MW”), grew $200.7 million, or 8.9% annualized, during the three months ended March 31, 2023 from $9.04 billion at the end of the fourth quarter of 2022;
• Declared quarterly cash dividend of $0.20 per share of outstanding common stock payable on May 25, 2023.

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