Veritex Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 24, 2017 at 04:34 pm
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Veritex Holdings, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the full year, the company announced total interest income of $46,595,000 compared to $34,920,000 for the same period a year ago. Net interest income was $40,955,000 compared to $31,459,000 for the same period a year ago. Net income from operations was $19,056,000 compared to $12,907,000 for the same period a year ago. Net income was $12,551,000 compared to $8,790,000 for the same period a year ago. Net income available to common stockholders was $12,551,000 compared to $8,692,000 for the same period a year ago. Diluted earnings per share were $1.13 compared to $0.84 for the same period a year ago.
For the quarter, the company announced total interest income was $12,281,000 compared to $10,007,000 for the same period a year ago. Net interest income was $10,520,000 compared to $9,013,000 for the same period a year ago. Net income from operations was $4,858,000 compared to $3,876,000 for the same period a year ago. Net income was $3,191,000 compared to $2,573,000 for the same period a year ago. Net income available to common stockholders was $3,191,000 compared to $2,535,000 for the same period a year ago. Diluted earnings per share were $0.27 compared to $0.23 for the same period a year ago. Book value per common share was $15.72 compared to $12.33 for the same period a year ago. Tangible book value per common share was $13.81 compared to $9.59 for the same period a year ago. Return on average assets was 0.97% compared to 0.99% for the same period a year ago. Return on average equity was 8.11% compared to 7.37% for the same period a year ago.
Veritex Holdings, Inc. is a bank holding company. The Company conducts banking activities through its wholly owned subsidiary, Veritex Community Bank (the Bank), a Texas state bank, which provides a full range of banking services, including commercial and retail lending and checking and savings deposit products, to individual and corporate customers. It operates through the community banking segment. The Bank provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals. It offers online banking solutions, including access to account balances, online transfers, online bill payment and electronic delivery of customer statements, as well as ATMs, and mobile and digital banking, mail and personal appointments. It also offers debit cards, night depository, direct deposit, cashierâs checks and letters of credit. It also offers a full array of commercial treasury management services.