VERITEX HOLDINGS, INC. VBTX Income Statement

Veritex holdings, inc. (VBTX)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14
Interest and dividend income:
Loans, including fees
77,861	82,469	85,811	86,786	85,747	35,028	35,074	32,291	32,067	28,182	20,706	13,024	11,883	11,685	11,589	11,052	10,355	9,648	9,230	7,454	7,348	7,335	7,183	6,566	6,152
Investment securities
7,397	7,168	7,687	7,397	7,232	1,908	1,722	1,647	1,328	1,211	941	735	575	395	335	344	335	286	247	252	212	210	207	206	216
Deposits in financial institutions and Fed Funds sold
871	1,285	1,329	1,372	1,554	833	1,016	613	687	500	629	548	610	202	129	80	92	72	60	55	54	62	43	41	36
Other investments
850	820	816	622	691	413	108	306	28	4	3	0	1	-1	1	1	1	-	1	-	-	0	1	0	1
Total interest and dividend income
86,979	91,742	95,643	96,177	95,224	38,182	37,920	34,857	34,110	29,897	22,279	14,307	13,069	12,281	12,054	11,477	10,783	10,007	9,538	7,761	7,614	7,607	7,434	6,813	6,405
Interest expense:
Transaction and savings deposits
6,552	8,203	10,381	11,405	10,366	5,412	4,694	4,204	3,289	2,780	2,812	1,742	1,647	189	1,381	1,072	935	843	778	666	631	655	609	570	587
Certificates and other time deposits
8,240	9,455	10,283	10,145	8,792	3,394	3,068	2,248	1,004	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advances from FHLB
2,879	-	3,081	2,187	2,055	-	630	234	460	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subordinated debentures and subordinated notes
1,903	6,868	1,024	998	1,094	974	250	245	232	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other borrowed funds
-	-	-	-	-	-	-	-	-	-	338	189	169	161	156	177	158	151	143	123	126	120	123	123	132
Total interest expense
19,574	21,878	24,769	24,735	22,307	9,487	8,642	6,931	4,985	4,147	3,150	1,931	1,816	1,761	1,537	1,249	1,093	994	921	789	757	775	732	693	719
Net interest income
67,405	69,864	70,874	71,442	72,917	28,695	29,278	27,926	29,125	25,750	19,129	12,376	11,253	10,520	10,517	10,228	9,690	9,013	8,617	6,972	6,857	6,832	6,702	6,120	5,686
Provision for credit losses
31,776	3,493	9,674	3,335	5,012	1,364	3,057	1,504	678	2,529	752	943	890	440	238	527	845	610	0	148	110	326	420	425	252
Provision for unfunded commitments
3,881	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net interest income after provision for credit losses
31,748	66,371	61,200	68,107	67,905	27,331	26,221	26,422	28,447	23,221	18,377	11,433	10,363	10,080	10,279	9,701	8,845	8,403	8,617	6,824	6,747	6,506	6,282	5,695	5,434
Noninterest income:
Service charges and fees on deposit accounts
3,642	3,728	3,667	3,422	3,517	832	809	846	933	769	669	555	509	536	433	443	434	419	380	282	245	421	282	190	206
Loan fees
845	1,921	2,252	1,932	1,677	387	410	261	274	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sales of investment securities
0	-438	0	-642	-772	-42	-34	4	8	17	205	0	0	0	0	0	15	0	0	0	7	0	0	0	34
Net gain on sales of loans and other assets owned
746	536	853	1,104	2,370	1,789	270	416	581	882	705	807	747	970	1,036	620	662	450	392	129	302	155	241	168	77
Loss on sale of other assets owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	21	0	-2	6	-33	24	13
Bank-owned life insurance
-	-	-	-	-	-	-	-	-	-	188	186	187	-	193	191	193	196	194	179	178	111	105	103	108
Rental income
551	-	369	373	368	-	414	452	478	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,463	1,014	1,289	-155	1,324	343	539	311	484	395	210	218	92	576	231	158	69	161	56	98	36	-37	35	155	132
Total noninterest income
7,247	7,132	8,430	6,034	8,484	3,619	2,408	2,290	2,758	2,298	1,977	1,766	1,535	1,825	1,893	1,412	1,373	1,207	1,043	688	766	656	630	640	570
Noninterest expense:
Salaries and employee benefits
18,870	18,917	17,530	17,459	18,885	8,157	7,394	7,657	7,930	7,357	5,921	3,642	3,908	3,649	3,920	3,589	3,174	3,019	3,001	2,588	2,657	2,444	2,755	2,196	2,642
Occupancy and equipment
4,273	4,198	4,044	4,014	4,129	2,412	2,890	2,143	3,234	1,996	1,596	1,015	1,011	949	923	894	901	918	894	808	857	1,482	844	474	446
Professional and regulatory fees
2,196	2,615	2,750	2,814	3,418	1,757	1,893	1,528	2,104	199	1,973	1,188	798	943	785	503	573	486	632	365	540	-	296	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	334	333
Data processing and software expense
2,089	1,880	2,252	2,309	1,924	806	697	689	828	766	719	372	360	308	296	270	284	313	368	272	263	361	254	210	216
FDIC assessment fees
-	-	-	-	-	-	-	-	-	-	410	393	258	213	179	132	137	131	121	96	100	105	99	109	108
Marketing
1,083	971	708	961	619	570	306	446	461	388	436	225	244	279	293	211	200	205	227	162	205	-	142	-	-
Other assets owned expenses and write-downs
-	-	-	-	-	-	-	-	-	-	-	13	25	-	9	55	75	23	-5	22	13	-182	259	108	26
Amortization of intangibles
2,696	2,696	2,712	2,719	2,760	835	798	856	978	551	223	95	95	95	95	95	95	95	96	74	73	-	-	-	-
Legal fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	34
Other professional fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53	411	132
Advertising and promotions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74	37	55
Telephone and communications
319	466	361	625	395	223	236	414	426	282	230	106	102	107	98	100	97	81	68	57	57	31	54	72	69
Merger and acquisition expense
0	918	1,035	5,790	31,217	1,150	2,692	1,043	335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
4,019	3,623	3,238	3,205	3,646	1,628	1,340	1,393	1,010	1,904	1,014	733	649	681	431	452	439	463	440	286	317	-	-	483	473
Total noninterest expense
35,545	36,284	34,630	39,896	66,993	17,538	18,246	16,169	17,306	15,035	12,522	7,782	7,450	7,085	7,029	6,301	5,975	5,734	5,842	4,730	5,082	4,679	4,830	4,460	4,534
Income before income tax (benefit) expense
3,450	37,219	35,000	34,245	9,396	13,412	10,383	12,543	13,899	10,484	7,832	5,417	4,448	4,820	5,143	4,812	4,243	3,876	3,818	2,782	2,431	2,483	2,082	1,875	1,470
Income tax (benefit) expense
-684	8,168	7,595	7,369	1,989	3,587	1,448	2,350	3,511	7,227	2,650	1,802	1,350	1,630	1,768	1,639	1,430	1,303	1,281	926	607	793	723	677	512
Net income
4,134	29,051	27,405	26,876	7,407	9,825	8,935	10,193	10,388	3,257	5,182	3,615	3,098	3,190	3,375	3,173	2,813	2,573	2,537	1,856	1,824	1,690	1,359	1,198	958
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	42	-	-	-	0	-	-	38	20	20	20	20	20	20	20
Net income allocated to common stockholders
-	-	-	-	-	-	-	-	-	-	5,140	-	-	-	3,375	-	-	2,535	2,517	1,836	1,804	1,670	1,339	1,178	938
Basic earnings per share (in dollars per share)
0.08	0.55	0.52	0.50	0.14	0.41	0.37	0.42	0.43	0.12	0.26	0.24	0.20	0.28	0.32	0.30	0.26	0.24	0.24	0.19	0.19	0.18	0.21	0.19	0.15
Diluted earnings per share (in dollars per share)
0.08	0.55	0.51	0.49	0.13	0.40	0.36	0.42	0.42	0.12	0.25	0.23	0.20	0.27	0.31	0.29	0.26	0.23	0.23	0.19	0.19	0.18	0.21	0.18	0.15