Veritex Holdings ( (VBTX) ) has released its Q4 earnings. Here is a breakdown of the information Veritex Holdings presented to its investors.
Veritex Holdings, Inc. is a Dallas-based bank holding company operating through Veritex Community Bank, primarily serving the Dallas-Fort Worth and Houston areas. The company focuses on providing a variety of banking services including commercial and retail banking.
In its latest earnings report for the fourth quarter and full year of 2024, Veritex Holdings highlighted key achievements such as improving its credit risk profile and completing a balance sheet remake. The company declared an operating earnings per share (EPS) of $2.17 for the year, marking significant strategic progress.
Among the financial highlights, Veritex Holdings reported a decrease in criticized loans by $100 million, and a reduction in commercial real estate concentration. The loan to deposit ratio improved to 89.3%, and total deposits grew by $414.4 million year-over-year. The company’s common equity tier 1 capital increased to 11.09%, and the tangible book value per share rose by 6.9% over the year.
Net interest income saw a slight decrease in the fourth quarter due to lower loan yields, while noninterest income benefitted from a strategic restructuring of the company’s securities portfolio. Despite these mixed results, the company was recognized as one of the “Best Companies to Work For” by the U.S. News & World Report.
Looking ahead, Veritex Holdings’ management remains committed to executing its strategic plan, emphasizing profitability growth in 2025. The company aims to leverage its strengthened financial position to continue delivering value to shareholders.