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Sep 30, 2023
Veritex Q3 2023 Earnings Report
Reported third quarter operating results.
Key Takeaways
Veritex Holdings reported net income of $32.621 million and diluted EPS of $0.60 for the quarter ended September 30, 2023. Total deposits increased by $962.6 million to $10.2 billion. The allowance for credit losses to total loans increased to 1.14%.
Total deposits increased by $962.6 million, or 41.68% annualized, to $10.2 billion as of September 30, 2023 compared to $9.2 billion as of June 30, 2023.
Loan to deposit ratio decreased to 94.5% as of September 30, 2023 compared to 105.1% as of June 30, 2023.
Allowance for credit losses (“ACL”) to total loans increased to 1.14% as of September 30, 2023, or an increase of 9 bps and 20 bps from June 30, 2023 and September 30, 2022, respectively.
Annualized net charge-offs to average loans outstanding were 8 bps for the three months ended September 30, 2023 compared to 48 bps and 12 bps for the three months ended June 30, 2023 and September 30, 2022, respectively.
Veritex
Veritex
Forward Guidance
This earnings release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.