Veritex Holdings, Inc. reported a net income of $29.1 million for the first quarter of 2025, reflecting a 20.3% increase from $24.2 million in the same period last year. The company's earnings per share rose to $0.53, up from $0.44 in the prior year. Total interest and dividend income decreased to $173.7 million, down from $184.6 million year-over-year, primarily due to a decline in interest income from loans, which fell to $146.5 million from $161.9 million. The decrease in interest income was partially offset by an increase in income from debt securities and other investments.
In terms of operational changes, Veritex's total assets decreased by 1.3% to $12.61 billion as of March 31, 2025, compared to $12.77 billion at the end of 2024. The decline was attributed to reductions in the loans held for sale (LHFS) and loans held for investment (LHI) portfolios. The LHI, excluding the allowance for credit losses (ACL), was reported at $9.41 billion, a decrease of 1.1% from the previous quarter. The company also saw a slight increase in total deposits, which amounted to $10.67 billion, down from $10.75 billion, primarily due to a reduction in certificates and other time deposits.
Veritex's strategic initiatives included the extension of its stock buyback program, allowing for the repurchase of up to $50 million of its common stock through March 31, 2026. During the first quarter of 2025, the company repurchased 377,346 shares at an average price of $25.22. The company also reported an increase in its allowance for credit losses, which rose to $111.8 million, reflecting management's assessment of potential credit losses in the current economic environment.
Looking ahead, Veritex Holdings expressed optimism about its growth prospects, particularly in the Dallas-Fort Worth and Houston metropolitan areas, where it continues to focus on expanding its community banking services. The company remains committed to managing its capital effectively, maintaining a well-capitalized status, and adhering to regulatory requirements. As of March 31, 2025, Veritex's capital ratios exceeded the minimum requirements, positioning the company favorably for future growth and operational stability.
About Veritex Holdings, Inc.
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