LegacyTexas Financial Group, Inc. Reports Record Third Quarter 2016 Earnings of $27.2 million

PLANO, Texas, Oct. 18, 2016

"We are pleased to report such great results," said President and CEO Kevin Hanigan.  "In addition to record earnings of $27.2 million, we also had a record core return on assets of 1.38% and an all-time best core efficiency ratio of 46%. Deposit growth of over $500 million is also a record.  Our talented team is doing a fantastic job of taking care of our customers, growing our franchise and achieving great results for our shareholders."

Third Quarter 2016 Performance Highlights

• Company assets totaled $8.44 billion, which generated basic earnings per share for the third quarter of 2016 of $0.59 on a GAAP basis and $0.61 on a core (non-GAAP) basis.  
• Return on average assets for the quarter ended September 30, 2016 was 1.33%, compared to 1.20% for the second quarter of 2016, while core (non-GAAP) return on average assets was 1.38% for the quarter ended September 30, 2016, compared to 1.20% for the second quarter of 2016.
• Return on average equity for the quarter ended September 30, 2016 was 12.66%, compared to 11.11% for the second quarter of 2016, while core (non-GAAP) return on average equity was 13.08% for the quarter ended September 30, 2016, compared to 11.15% for the second quarter of 2016.
• Core (non-GAAP) efficiency ratio improved to 45.95% for the quarter ended September 30, 2016, compared to 48.17% for the second quarter of 2016.
• Gross loans held for investment at September 30, 2016, excluding Warehouse Purchase Program loans, grew $64.2 million, or 1.1%, from June 30, 2016, with $43.1 million of growth in commercial real estate and commercial and industrial loans.
• Total deposits at September 30, 2016 grew $505.4 million, or 9.0%, from June 30, 2016, with $192.9 million of growth in savings and money market deposits, $140.2 million of growth in non-interest-bearing demand deposits, and $134.7 million of growth in time deposits.

Financial Highlights
	At or For the Quarters Ended
(unaudited) ARIVA.DE Börsen-Geflüster Kurse LegacyTexas Financial Group -   0,00%	September 2016				June 2016				September 2015
	(Dollars in thousands, except per share amounts)
Net interest income	$	73,480			$	69,354			$	61,188
Provision for credit losses	3,467				6,800				7,515
Non-interest income	11,277				13,722				11,851
Non-interest expense	39,674				39,613				37,827
Income tax expense	14,399				13,446				9,802
Net income	$	27,217			$	23,217			$	17,895
Basic earnings per common share	$	0.59			$	0.50			$	0.39
Basic core (non-GAAP) earnings per common share1	$	0.61			$	0.50			$	0.39
Weighted average common shares outstanding - basic	46,227,734				46,135,999				45,862,840
Estimated Tier 1 common risk-based capital ratio2	8.91		%		9.28		%		9.97		%
Total equity to total assets	10.27		%		10.47		%		11.52		%
Tangible common equity to tangible assets - Non-GAAP1	8.32		%		8.43		%		9.12		%

Core (non-GAAP) net income (which is net income adjusted for the impact of one-time gains and losses on assets and security sales, the net gain on the sale of the Company's insurance subsidiary operations, merger and acquisition costs and certain other items) totaled $28.1 million for the quarter ended September 30, 2016, up $4.8 million from the second quarter of 2016 and up $10.3 million from the third quarter of 2015.  Basic earnings per share for the quarter ended September 30, 2016 was $0.59, an increase of $0.09 from the second quarter of 2016 and an increase of $0.20 from the third quarter of 2015.  Basic core earnings per share for the third quarter of 2016 was $0.61, up $0.11 from the second quarter of 2016 and up $0.22 from the third quarter of 2015.  The reconciliation of non-GAAP measures, which the Company believes facilitates the assessment of its banking operations and peer comparability, is included in tabular form at the end of this release.

Net Interest Income and Net Interest Margin
	For the Quarters Ended
(unaudited)	September 2016				June 2016				September 2015
	(Dollars in thousands)
Interest income:
Loans held for investment, excluding Warehouse Purchase Program loans	$	69,543 Werbung Mehr Nachrichten zur LegacyTexas Financial Group Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 13:35 - ARIVA.DE Redaktion TecDAX legt leicht zu: Heute 87 Punkte mehr (3.274 Pkt.) 08:15 - PR Newswire BlackRock Frontiers Investment Trust Plc - Mandatory closed period - Compliance with Market Abuse Regulations 07:29 - PR Newswire Norges Bank - Form 8.3 - International Paper Company Der KI-Boom ist vorbei!    Aber dieser heiße Sektor verspricht, weiter zu wachsen... weiterlesen» Anzeige wo-site-teaser-box-16737_site-teaser-box_2024-04-23_09%253A00%253A00_2024-04-24_09%253A00%253A59