Veritex Holdings, Inc. - VBTX STOCK NEWS

Veritex Holdings, Inc. (Nasdaq: VBTX) has announced plans to release its Q3 2021 earnings on October 26, 2021, after market close. An investor conference call will follow on October 27, 2021, at 8:30 a.m. CT to review the results. Participants can pre-register for the call or join via toll-free number. The earnings release and conference call will be available on the company's website, with a replay option provided until November 3, 2021.

Veritex Holdings (Nasdaq: VBTX) announced the reassignment of its Board of Director committees effective June 20, 2021. The revised committee structure includes changes in roles across the Audit, Compensation, Governance & Nominating, and Risk committees. C. Malcolm Holland, III continues as Chairman of the Board, while Blake Bozman, William E. Fallon, and Steven D. Lerner hold Chair positions in their respective committees. Veritex Holdings operates Veritex Community Bank, serving the Dallas-Fort Worth and Houston areas.

Veritex Holdings, Inc. (Nasdaq: VBTX) has announced a definitive agreement to acquire North Avenue Capital, LLC for $57.5 million in cash. This acquisition aims to enhance Veritex's presence in the USDA Business and Industry lending space, diversifying revenue streams through increased loan servicing fees and leveraging NAC’s technology. The deal, expected to close in Q4 2021, also includes a potential additional $5 million contingent on performance metrics. Both companies are optimistic about the strategic benefits and synergies from the integration.

The Board of Directors of Veritex Holdings has announced an increase in its stock buyback program from $175 million to $250 million. This program, now extended to December 31, 2022, allows the company to repurchase shares in open market or private transactions, depending on market conditions. As of September 14, 2021, Veritex had repurchased approximately $163.8 million, totaling 6,522,823 shares. This initiative aims to enhance shareholder value amidst ongoing market fluctuations.

Veritex Holdings (Nasdaq: VBTX) reported strong financial results for Q2 2021, highlighting a net income of $29.5 million ($0.59 EPS), up from $24.0 million year-over-year. Annualized loan growth reached 21%, with record loan production of $1.4 billion. Total loans grew by $424.2 million from December 2020, while deposits increased by $74.3 million, marking a 4.3% annualized growth. The company also announced an 18% dividend increase to $0.20 per share, payable on August 19, 2021. Asset quality improved with nonperforming assets at 0.85% of total assets.

Veritex Holdings, Inc. (Nasdaq: VBTX) declared a quarterly cash dividend of $0.20 per share on July 27, 2021. The dividend will be payable on or after August 19, 2021 to shareholders on record as of the close of business on August 5, 2021. This dividend indicates the company's commitment to returning value to its shareholders. Veritex Holdings operates through its subsidiary, Veritex Community Bank, serving the Dallas-Fort Worth and Houston areas.

Veritex Holdings (Nasdaq: VBTX) has announced its acquisition of a 49% interest in Thrive Mortgage, LLC for $53.9 million in cash. This investment enables Veritex to appoint a member to Thrive's board, enhancing its strategic partnership. Thrive, a Texas-based leader in digital home financing, is expected to increase Veritex's fee income and leverage excess liquidity. CEO C. Malcolm Holland expressed confidence that this collaboration will drive consistent returns and mitigate business cycle volatility, positioning the company for strong growth.

Veritex Holdings, Inc. (Nasdaq: VBTX) announced its plans to release second quarter 2021 financial results on July 27, 2021, following the market's close. An investor conference call will take place on July 28, 2021, at 8:30 a.m. CT for a detailed review of the results. Participants can preregister for the call to streamline access. The call will be available for live listening and will feature an audio replay for later access. For more details, visit https://ir.veritexbank.com/.

Veritex Holdings (Nasdaq: VBTX) announced a definitive agreement to acquire a 49% stake in Thrive Mortgage for $53.9 million. This deal, expected to finalize in mid-2021 pending regulatory approvals, allows Veritex to appoint a board member at Thrive. Thrive is recognized for its digital home financing solutions and operates in multiple states. Veritex's investment is projected to enhance its fee income and leverage excess liquidity while maintaining potential for further strategic growth.