Veritex Holdings, Inc. reported its financial results for the second quarter of 2025, revealing a net income of $30.9 million, a 13.5% increase from $27.2 million in the same quarter of the previous year. For the first half of 2025, net income reached $60.0 million, up 16.8% from $51.4 million in the first half of 2024. Basic earnings per share (EPS) for the second quarter were $0.57, compared to $0.50 in the prior year, while diluted EPS also increased to $0.56 from $0.50. The company's total interest income for the quarter was $175.1 million, down from $191.2 million a year earlier, primarily due to a decrease in interest income from loans.
The company experienced a decrease in total assets, which fell to $12.53 billion as of June 30, 2025, down from $12.77 billion at the end of 2024. This decline was attributed to reductions in cash balances, securities, and loans held for sale (LHFS). Total loans held for investment (LHI) decreased slightly to $9.46 billion, a 0.5% drop from the previous period. The allowance for credit losses (ACL) increased marginally to $112.3 million, reflecting management's assessment of potential credit losses in the loan portfolio.
Strategically, Veritex announced a definitive merger agreement with Huntington Bancshares, expected to close in the fourth quarter of 2025. Under the terms of the agreement, Veritex shareholders will receive 1.95 shares of Huntington's common stock for each share of Veritex common stock. This merger is anticipated to enhance the combined entity's market presence and operational capabilities, particularly in the Texas region where both banks have significant operations.
Operationally, the company reported a decrease in total deposits to $10.42 billion, down 3.1% from the end of 2024. The decline was driven by reductions in various deposit categories, including certificates of deposits and noninterest-bearing deposits. The company also repurchased 286,291 shares during the second quarter at an average price of $24.06 per share, continuing its stock buyback program initiated in March 2024. Looking ahead, Veritex remains focused on maintaining its capital ratios above regulatory requirements, with a common equity tier 1 (CET1) ratio of 11.05% as of June 30, 2025, indicating a strong capital position relative to its risk-weighted assets.
About Veritex Holdings, Inc.
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