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Dec 31, 2021
Veritex Q4 2021 Earnings Report
Reported strong fourth quarter and 2021 results due to the improving Texas economy and focus on the organic growth strategy.
Key Takeaways
Veritex Holdings, Inc. reported strong fourth-quarter results driven by organic growth, strategic investments in Thrive Mortgage and North Avenue Capital, and improving asset quality. Deposit growth remained strong, and loan balances increased for the sixth consecutive quarter.
Total loans held for investment, excluding Paycheck Protection Program and mortgage warehouse loans, grew $150.1 million, or 9.1% annualized.
Total deposits grew $184.9 million, or 10.3% annualized.
Nonperforming assets to total assets decreased to 0.51%.
Completed 49% investment in Thrive and closed the acquisition of NAC.
Veritex
Veritex
Forward Guidance
Management is excited for 2022 and the future of the Company due to business momentum, continued organic growth, investment in talent, revenue diversification, improving credit metrics and a recovering economy.
Positive Outlook
- Business momentum
- Continued organic growth
- Investment in talent
- Revenue diversification
- Improving credit metrics