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Sep 30, 2021
Veritex Q3 2021 Earnings Report
Reported third quarter operating results
Key Takeaways
Veritex Holdings, Inc. reported a transformational third quarter with record annualized loan growth of 22.1% and net income of $36.8 million, or $0.73 diluted earnings per share.
Net income of $36.8 million, or $0.73 diluted earnings per share.
Operating earnings of $35.1 million, or $0.70 diluted operating EPS.
Total loans held for investment, excluding mortgage warehouse and PPP loans, grew $344.5 million from the second quarter of 2021, or 21.9% annualized.
Total deposits grew $199.9 million from the second quarter of 2021, or 11.4% annualized.
Veritex
Veritex
Veritex Revenue by Segment
Revenue by Segment
Commercial LHI Revenue
CapyFin.comOwner Occupied CRE Revenue
CapyFin.comNon-Owner Occ. CRE Revenue
CapyFin.comConstruction & Land Revenue
CapyFin.comFarmland loans Revenue
CapyFin.com1-4 Family Residential Revenue
CapyFin.comMulti-Family Residential Revenue
CapyFin.comConsumer loans Revenue
CapyFin.com Forward Guidance
The company announced the acquisition of North Avenue Capital, LLC, which will close on November 1, 2021, and continues to focus on revenue diversification, sound underwriting, reducing NPAs, and maintaining a strong culture.
Positive Outlook
- Closing of 49% investment in Thrive.
- Announced the acquisition of North Avenue Capital.
- Record annualized loan growth of 22.1% for Q3-21.
- Focus on revenue diversification.
- Sound underwriting.
Challenges Ahead
- Reducing NPAs
- Maintaining our strong culture
- Pursuing opportunities to further scale our Company.
- COVID-19 pandemic
- Economic forecasts