Welcome to our dedicated page for Veritex Holdings news (Ticker: VBTX), a resource for investors and traders seeking the latest updates and insights on Veritex Holdings stock.
Veritex Holdings, Inc. (symbol: VBTX) is a prominent player in the commercial banking sector, specifically catering to small and medium-sized businesses and professionals. Based in Dallas, the company takes pride in its deep connection with the community, offering personalized banking solutions tailored to meet the financial needs of its clientele.
The company's portfolio includes a wide range of services such as commercial and retail lending, acceptance of checking and savings deposits, and an assortment of online banking solutions. Clients can easily access account balances, perform online transfers, pay bills online, and receive electronic statements. Additionally, Veritex provides automated teller machines, telephone banking, mail services, and personal appointments to ensure comprehensive service delivery.
Revenue Streams
Veritex's primary revenue streams are derived from interest and dividends earned on loans, debt and equity securities, and other financial instruments. This diversified revenue model helps the company maintain a strong financial footing.
Current Projects and Achievements
Recently, the company announced its financial results for the three months ended September 30, 2023, showcasing strong performance in net interest income and noninterest income. The management has also highlighted improvements in credit quality and financial condition, which reinforce the bank's commitment to sustainable growth.
Latest News
The company has been active in keeping its investors and stakeholders informed through regular updates. On July 26, 2023, Veritex announced key achievements and operational outcomes. These updates are part of the company's effort to maintain transparency and keep the community engaged with its ongoing operations.
For detailed financial analysis and latest updates, Veritex Holdings will be hosting an investor conference call on January 24, 2024, at 8:30 a.m. Central Time. This event will provide insights into their recent quarterly performance and future outlook.
Veritex Community Bank has made significant leadership appointments to enhance its focus on middle-market banking, commercial real estate, and private banking. William Ray Jr., Brent Reed, and Will Richardson join the bank from Bank of Houston, bringing extensive banking experience.
Ray will lead middle-market banking, while Reed focuses on commercial real estate, which constitutes 45% of the bank's loan portfolio. Richardson is tasked with expanding private banking services, capitalizing on recent growth in this sector. Veritex has committed to growing its Houston market presence since 2019.
Veritex Holdings, Inc. (Nasdaq: VBTX) will release its first quarter 2022 financial results on April 26, 2022, post-market close. An investor conference call will follow on April 27, 2022, at 8:30 a.m. Central Time. Interested parties can pre-register for the call via the company's website, where they will also find the earnings release. A live webcast of the call will be available, along with an audio replay after the call, accessible until May 4, 2022.
On March 3, 2022, Veritex Holdings (Nasdaq: VBTX) announced a public offering of 3,947,369 shares of common stock, priced at $38.00 per share, aiming for gross proceeds of approximately $150 million. After underwriting discounts, the net proceeds are expected to be around $141.8 million. The proceeds will support general corporate purposes, including growth and strategic acquisitions. The offering, managed by Keefe, Bruyette & Woods and Goldman Sachs, is subject to customary closing conditions and is expected to close on or about March 8, 2022.
Veritex Holdings has announced a definitive agreement to acquire StoneCastle Cash Insured Sweep, LLC for approximately $91 million in cash and stock. This move will enhance Veritex's liquidity by providing access to $5.7 billion in stable core deposits, facilitating significant loan growth. The acquisition is expected to be financially attractive, with an anticipated 8% EPS accretion in 2024 and a run-rate EPS accretion of 14% thereafter. The transaction has been approved and is set to close in Q3 2022, pending regulatory approvals.
Veritex Holdings (Nasdaq: VBTX) announced a public offering of its common stock, granting underwriters a 30-day option for additional shares. Joint book-running managers include Keefe, Bruyette & Woods and Goldman Sachs & Co. LLC. Proceeds will support general corporate purposes and growth investments in Veritex Community Bank, as well as future acquisitions. The offering is governed by an effective shelf registration statement with the SEC, and a preliminary prospectus supplement has been filed. This release does not constitute an offer to sell or buy securities.
Veritex Holdings, Inc. (Nasdaq: VBTX) announced a quarterly cash dividend of $0.20 per share on its common stock. This dividend will be paid on or after February 25, 2022 to shareholders on record as of February 11, 2022. Veritex operates primarily through Veritex Community Bank, serving the Dallas-Fort Worth and Houston areas. Forward-looking statements regarding the company's plans and objectives are also included, emphasizing the potential fluctuations and risks involved.
Veritex Holdings (Nasdaq: VBTX) reported strong financial results for Q4 2021 and the full year, with net income of $41.5 million and diluted EPS of $0.82. The Company achieved a 16% growth in loan balances during 2021, while total deposits increased by 13.1% year-over-year. Notably, nonperforming assets improved to 0.51%, the lowest level since 2019. The 49% investment in Thrive Mortgage contributed $6 million to noninterest income, while the North Avenue Capital acquisition added $1.3 million. A quarterly cash dividend of $0.20 per share was declared, payable on February 25, 2022.
Veritex Holdings (Nasdaq: VBTX) announced it will release its fourth quarter and year-end 2021 results on January 25, 2022, after market close. A conference call to review these results will take place on January 26, 2022, at 8:30 a.m. Central Time. Participants can pre-register for the call via the company's website to receive a unique PIN for access. The call will be webcast live, with an audio replay available one hour after the conclusion. For more details, visit the Veritex website.
Veritex Holdings has successfully acquired North Avenue Capital for $57.5 million in cash, with a potential additional $5 million based on performance metrics. This acquisition positions Veritex as a leader in the USDA Business and Industry lending program. The strategic move aims to diversify revenue sources and enhance loan servicing capabilities by utilizing NAC's loan sourcing technology. Veritex's CEO, C. Malcolm Holland, expressed enthusiasm about expanding their USDA lending presence. NAC will continue to operate under its brand as a wholly owned subsidiary.
Veritex Holdings (Nasdaq: VBTX) reported strong Q3 2021 financial results ending September 30, 2021, with a net income of $36.8 million, or $0.73 diluted EPS, up from $29.5 million (Q2 2021) and $22.9 million (Q3 2020). Total loans grew by $344.5 million (21.9% annualized), while total deposits reached $7.2 billion. The company’s acquisition of North Avenue Capital is set to close on November 1, 2021. A quarterly cash dividend of $0.20 per share was declared
and will be paid on November 23, 2021.
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