Veritex Q2 2020 Earnings Report

Veritex reported solid results despite pandemic and economic challenges.

Key Takeaways

Veritex Holdings, Inc. reported a net income of $24.0 million, or $0.48 diluted earnings per share for the quarter ended June 30, 2020. The results reflect strong pre-tax, pre-provision operating net revenue, continued building of allowance for credit losses and higher capital levels.

Net income of $24.0 million, or $0.48 diluted earnings per share.

Pre-tax, pre-provision operating earnings totaled $45.7 million.

Provision for credit losses and unfunded commitments was $19.0 million.

Total deposits grew $325.6 million from the first quarter of 2020, or 22.4% annualized.

Total Revenue

$87M

Previous year: $77.5M