0001501570-24-000086 | 10-K | XBRL Viewer

Schedule of Assets Measured at Fair Value on a Recurring Basis

The following table summarizes assets measured at fair value on a recurring basis as of December 31, 2023 and 2022, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
Financial Assets:
AFS debt securities	$	—	$	1,076,639	$	—	$	1,076,639
Equity securities with a readily determinable fair value	9,897		—		—		9,897
LHFS(1)	—		67,784		—		67,784
Interest rate swaps designated as hedging instruments	—		18,814		—		18,814
Correspondent interest rate swaps not designated as hedging instruments	—		28,007		—		28,007
Customer interest rate swaps not designated as hedging instruments	—		2,118		—		2,118

Correspondent interest rate caps and collars not designated as hedging instruments	—		1,344		—		1,344
Financial Liabilities:
Interest rate swaps designated as hedging instruments	$	—	$	47,121	$	—	$	47,121
Correspondent interest rate swaps not designated as hedging instruments	—		2,322		—		2,322
Customer interest rate swaps not designated as hedging instruments	—		27,288		—		27,288
Customer interest rate caps and collars not designated as hedging instruments	—		1,344		—		1,344

(1) Represents LHFS elected to be carried at fair value upon origination or acquisition.


	December 31, 2022
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
Financial Assets:
AFS debt securities	$	—	$	1,096,292	$	—	$	1,096,292
Equity securities with a readily determinable fair value	9,792		—		—		9,792
LHFS(1)	—		19,775		—		19,775
Interest rate swaps designated as hedging instruments	—		26,523		—		26,523
Correspondent interest rate swaps not designated as hedging instruments	—		38,839		—		38,839
Customer interest rate swaps not designated as hedging instruments	—		1,004		—		1,004

Correspondent interest rate caps and collars not designated as hedging instruments	—		1,494		—		1,494
Financial Liabilities:

Interest rate swaps designated as hedging instruments	—		54,171		—		54,171
Correspondent interest rate swaps not designated as hedging instruments	—		1,126		—		1,126
Customer interest rate swaps not designated as hedging instruments	—		38,188		—		38,188
Customer interest rate caps and collars not designated as hedging instruments	—		1,494		—		1,494

(1) Represents LHFS elected to be carried at fair value upon origination or acquisition.

Schedule of Assets Measured at Fair Value on a Non-recurring Basis

The following table summarizes assets measured at fair value on a non-recurring basis as of December 31, 2023 and 2022, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	Fair Value
	Measurements Using
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
As of December 31, 2023
Assets:
Collateral dependent loans with an ACL	$	—	$	—	$	14,274	$	14,274
Servicing assets with a valuation allowance	—		—		6,682		6,682


As of December 31, 2022
Assets:
Collateral dependent loans with an ACL	$	—	$	—	$	7,969	$	7,969
Servicing assets with a valuation allowance	—		—		10,984		10,984

Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments

The estimated fair values and carrying values of all financial instruments not measured at fair value on a recurring or non-recurring basis under current authoritative guidance as of December 31, 2023 and 2022 were as follows:


			Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
December 31, 2023
Financial assets:
Cash and cash equivalents	$	629,063	$	—	$	629,063	$	—
HTM debt securities	180,403		—		160,021		—

LHFS(1)	11,288		—		11,288		—
LHI(2)	9,577,180		—		—		9,322,744
Accrued interest receivable	53,313		—		53,313		—
BOLI	84,833		—		84,833		—
Servicing asset	6,576		—		6,576		—
Equity securities without a readily determinable fair value	11,624		N/A		N/A		N/A
FHLB and FRB stock	53,699		N/A		N/A		N/A
Financial liabilities:
Deposits	$	10,338,195	$	—	$	9,779,849	$	—
Advances from FHLB	100,000		—		141,999		—
Accrued interest payable	41,948		—		41,948		—
Subordinated debentures and subordinated notes	229,783		—		229,783		—


December 31, 2022
Financial assets:
Cash and cash equivalents	$	436,077	$	—	$	436,077	$	—
HTM debt securities	186,168		—		158,781		—

LHFS(1)	866		—		866		—
LHI(2)	9,399,614		—		—		9,163,616
Accrued interest receivable	44,035		—		44,035		—
BOLI	84,496		—		84,496		—
Servicing asset	3,896		—		3,896		—
Equity securities without readily determinable fair value	10,072		N/A		N/A		N/A
FHLB and FRB stock	101,568		N/A		N/A		N/A
Financial liabilities:
Deposits	$	9,123,234	$	—	$	8,341,419	$	—
Advances from FHLB	1,175,000		—		1,156,852		—
Accrued interest payable	8,795		—		8,795		—
Subordinated debentures and subordinated notes	228,775		—		228,775		—

(1) LHFS primarily represent commercial loans moved to held for sale or mortgage LHFS that are carried at lower of cost or market.

(2) LHI includes MW and is carried at amortized cost.

SUBORDINATED DEBENTURES AND SUBORDINATED NOTES - Narrative (Details)			12 Months Ended
	Oct. 05, 2020 USD ($)	Nov. 08, 2019 USD ($)	Dec. 31, 2023 USD ($) quarter	Dec. 31, 2022	Jan. 01, 2019 USD ($)	Aug. 01, 2017 USD ($)
Parkway Trust Securities
Debt Instrument [Line Items]
Distribution effective rate (as a percent)			7.50%	6.62%
Parkway Trust Securities \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable distribution rate (as a percent)			1.85%
Parkway Trust Securities \| Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount			$ 3,093,000
SovDallas Trust Securities \| Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 8,609,000
Debt instrument, effective percentage			9.66%	7.74%
SovDallas Trust Securities \| Junior Subordinated Debt \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest on securities, addition to LIBOR			4.00%
Patriot I Trust Securities \| Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount					$ 5,155,000
Debt instrument, effective percentage			7.51%	5.93%
Patriot I Trust Securities \| Junior Subordinated Debt \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.85%
Patriot II Trust Securities \| Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount					$ 17,011,000
Debt instrument, effective percentage			7.45%	6.57%
Patriot II Trust Securities \| Junior Subordinated Debt \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.80%
2019 Notes \| Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 75,000,000
Basis spread on variable rate			3.47%
Interest rate, stated percentage		4.75%
Redemption price, percentage		100.00%
2020 Notes \| Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 125,000,000
Interest rate, stated percentage	4.125%
2020 Notes \| Subordinated Debt \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	3.995%
Maximum \| Parkway Trust Securities
Debt Instrument [Line Items]
Interest distribution quarterly periods \| quarter			20

GOODWILL AND INTANGIBLE ASSETS - Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Gross intangible asset	$ 113,478	$ 111,308
Valuation allowance	1,532	2,451
Accumulated amortization	70,193	55,644
Net intangible assets	41,753	53,213
Amortization of intangible assets	9,838	9,979	$ 10,057
Amortization of Intangible Assets, Occupancy and Equipment, and Other Income
Finite-Lived Intangible Assets, Net [Abstract]
Amortization of intangible assets	$ 14,549	$ 13,650	$ 10,888
Core deposit intangibles
Finite-Lived Intangible Assets, Net [Abstract]
Weighted amortization period	3 years	4 years
Gross intangible asset	$ 81,769	$ 81,769
Valuation allowance	0	0
Accumulated amortization	53,274	43,523
Net intangible assets	$ 28,495	$ 38,246
Servicing asset
Finite-Lived Intangible Assets, Net [Abstract]
Weighted amortization period	7 years 2 months 12 days	7 years 4 months 24 days
Gross intangible asset	$ 26,930	$ 24,760
Valuation allowance	1,532	2,451
Accumulated amortization	12,140	7,429
Net intangible assets	$ 13,258	$ 14,880
Intangible lease assets
Finite-Lived Intangible Assets, Net [Abstract]
Weighted amortization period	0 years	3 months 18 days
Gross intangible asset	$ 4,779	$ 4,779
Valuation allowance	0	0
Accumulated amortization	4,779	4,692
Net intangible assets	$ 0	$ 87

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Balance Sheet

The notional amounts and estimated fair values as of December 31, 2023 and December 31, 2022 were as shown in the table below.


	December 31, 2023						December 31, 2022
			Estimated Fair Value						Estimated Fair Value
	Notional Amount		Asset Derivative		Liability Derivative		Notional Amount		Asset Derivative		Liability Derivative
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on money market deposit account payments	$	250,000	$	12,208	$	—	$	250,000	$	21,234	$	—
Interest rate swaps on fixed rate advances/brokered CDs	200,000		—		4,296		—		—		—
Interest rate swaps on customer loan interest payments	375,000		—		40,055		375,000		—		49,211
Interest rate collars on customer loan interest payments	450,000		2,304		2,770		450,000		3,267		4,960
Interest rate floor on customer loan interest payments	200,000		4,302		—		100,000		2,022		—
Total derivatives designated as hedging instruments	$	1,475,000	$	18,814	$	47,121	$	1,175,000	$	26,523	$	54,171

Derivatives not designated as hedging instruments:
Financial institution counterparty:
Interest rate swaps	$	893,702	$	28,007	$	2,322	$	805,311	$	38,839	$	1,126
Interest rate caps and collars	285,370		1,344		—		68,370		1,494		—
Commercial customer counterparty:
Interest rate swaps	893,702		2,118		27,288		805,311		1,004		38,188
Interest rate caps and collars	285,370		—		1,344		68,370		—		1,494
Total derivatives not designated as hedging instruments	$	2,358,144	$	31,469	$	30,954	$	1,747,362	$	41,337	$	40,808
Offsetting derivative assets/liabilities	—		(29,463)		(29,463)		—		(30,982)		(30,982)
Total derivatives	$	3,833,144	$	20,820	$	48,612	$	2,922,362	$	36,878	$	63,997

Derivative Instruments, Gain (Loss)

Pre-tax gain (loss) included in the Company's consolidated statements of income and related to derivative instruments for the years ended December 31, 2023 and 2022 was as follows:


	For the Year Ended December 31, 2023						For the Year Ended December 31, 2022
	Net (loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from accumulated other comprehensive income into income		Location of gain (loss) reclassified from accumulated other comprehensive income into income		Net (loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from accumulated other comprehensive income into income		Location of gain (loss) reclassified from accumulated other comprehensive income into income
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on borrowing advances	$	(4,386)	$	4,386	Interest Expense		$	(3,569)	$	3,569	Interest Expense
Interest rate swaps on money market deposit account and funding source payments	(13,322)		11,798		Interest Expense		16,693		3,208		Interest Expense

Interest rate swaps, collars and floor on customer loan interest payments	9,964		(19,196)		Interest Income		(54,623)		(1,757)
Total	$	(7,744)	$	(3,012)			$	(41,499)	$	5,020


					Net Gain recognized in other noninterest income						Net Gain recognized in other noninterest income
Derivatives not designated as hedging instruments:
Interest rate swaps, caps and collars					$	1,633					$	7,217

Schedule of Derivative Instruments Outstanding

The following is a summary of the interest rate swaps outstanding as of December 31, 2023 and December 31, 2022.


	December 31, 2023
	Notional Amount		Fixed Rate	Floating Rate	Maturity (Wtd. Avg.)	Fair Value
Non-hedging derivative instruments:
Customer interest rate derivative:
Interest rate swaps - receive fixed/pay floating	$	893,702	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0%- 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	4.1 years	$	(25,170)
Interest rate caps and collars	$	285,370	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	0.8 years	$	(1,344)

Correspondent interest rate derivative:
Interest rate swaps - pay fixed/receive floating	$	893,702	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0%- 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	4.1 years	$	25,685
Interest rate caps and collars	$	285,370	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	0.8 years	$	1,344


	December 31, 2022
	Notional Amount		Fixed Rate	Floating Rate	Maturity (Wtd. Avg.)	Fair Value
Non-hedging derivative instruments:
Customer interest rate derivative:
Interest rate swaps - receive fixed/pay floating	$	805,311	2.4% - 8.5%	LIBOR 1 month + 2.8% - 5.0%1 SOFR CME 1 month + 0.0% - 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	5.1 years	$	(37,183)
Interest rate caps and collars	$	68,370	3.5%	LIBOR 1 month + 0.0%	1.8 years	$	(1,494)

Correspondent interest rate derivative:
Interest rate swaps - pay fixed/receive floating	$	805,311	2.4% - 8.5%	LIBOR 1 month + 2.8% - 5.0%1 SOFR CME 1 month + 0.0% - 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	5.1 years	$	37,713
Interest rate caps and collars	$	68,370	3.5%	LIBOR 1 month + 0.0%	1.8 years	$	1,494

1 The derivative utilizing LIBOR 1 month as of December 31, 2023 is utilizing the allowable fallback provision.

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Schedule of Recorded Investment in Loans Related to the Balance in the Allowance for Loan Losses on the Basis of Impairment Methodology

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Financing receivable, after allowance for credit loss	$ 9,474,524	$ 9,391,599
Employees, Officers, Directors and Affiliates
Related Party Transaction [Line Items]
Financing receivable, after allowance for credit loss	30,132	35,005
New advances to the company's employees, officers, directors and their affiliates	6,648	33,624
Principal payments received from the loans to employees, officers, directors, and their affiliates	11,521	11,270
Unfunded commitments to related parties	9,062	7,895
Deposits received from related parties	$ 349,567	$ 275,807

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	$ 137,120	$ 135,401
Less accumulated depreciation and amortization	31,393	26,577
Bank premises, furniture and equipment, net	105,727	108,824
Depreciation	4,816	5,018	$ 3,123
Building and improvements
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	55,911	56,517
Site improvements
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	2,845	2,903
Tenant improvements
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	779	779
Leasehold improvements
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	8,432	7,497
Land
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	37,368	38,709
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	29,437	27,417
Construction in progress
Property, Plant and Equipment [Line Items]
Bank premises, furniture and equipment, gross	$ 2,348	$ 1,579

DEPOSITS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statistical Disclosure for Banks [Abstract]
Demand deposit overdrafts reclassified as loans	$ 243	$ 395
Brokered deposits	$ 2,031,413	$ 1,307,996

SECURITIES - Carrying Amount and Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
AFS
Amortized cost	$ 1,161,178	$ 1,195,694
Gross unrealized gains	11,251	1,760
Gross unrealized losses	95,790	101,162
ACL	0	0
Fair Value	1,076,639	1,096,292
HTM
Amortized cost	180,403	186,168
Gross unrealized gains	86	6
Gross unrealized losses	20,468	27,393
ACL	0	0
Fair Value	160,021	158,781
Corporate bonds
AFS
Amortized cost	244,652	268,179
Gross unrealized gains	1,034	1,445
Gross unrealized losses	29,566	17,379
ACL	0	0
Fair Value	216,120	252,245
Municipal securities
AFS
Amortized cost	46,631	49,886
Gross unrealized gains	108	3
Gross unrealized losses	3,258	4,198
ACL	0	0
Fair Value	43,481	45,691
HTM
Amortized cost	112,204	113,657
Gross unrealized gains	86	6
Gross unrealized losses	9,864	14,756
ACL	0	0
Fair Value	102,426	98,907
Mortgage-backed securities
AFS
Amortized cost	194,486	156,408
Gross unrealized gains	4,430	23
Gross unrealized losses	13,465	17,420
ACL	0	0
Fair Value	185,451	139,011
HTM
Amortized cost	33,716	36,342
Gross unrealized gains	0	0
Gross unrealized losses	6,037	6,753
ACL	0	0
Fair Value	27,679	29,589
Collateralized mortgage obligations
AFS
Amortized cost	563,421	609,456
Gross unrealized gains	4,634	0
Gross unrealized losses	46,999	55,850
ACL	0	0
Fair Value	521,056	553,606
HTM
Amortized cost	34,483	36,169
Gross unrealized gains	0	0
Gross unrealized losses	4,567	5,884
ACL	0	0
Fair Value	29,916	30,285
Asset-backed securities
AFS
Amortized cost	47,738	42,015
Gross unrealized gains	1,045	289
Gross unrealized losses	2,130	2,613
ACL	0	0
Fair Value	46,653	39,691
Collateralized loan obligations
AFS
Amortized cost	64,250	69,750
Gross unrealized gains	0	0
Gross unrealized losses	372	3,702
ACL	0	0
Fair Value	$ 63,878	$ 66,048

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation The Company may from time to time be involved in legal actions arising from normal business activities. Management believes that these actions in which the Company or any of its subsidiaries is a defendant are without merit or that the ultimate liability, if any, resulting from them will not materially affect the financial position or results of operations of the Company. Refer to Note 11 "Advances from the FHLB", Note 13 "Borrowed Funds" and Note 17 "Off-Balance Sheet Loan Commitments" for further discussion on commitments.

PARENT COMPANY ONLY FINANCIAL STATEMENTS - Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES:
Net income	$ 108,261	$ 146,315	$ 139,584
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed net income of Bank	30,589	5,141	(5,760)
(Increase) decrease in other assets	(44,484)	(55,770)	11,139
Net cash provided by operating activities	144,087	192,726	193,491
INVESTING ACTIVITIES:
Net cash used in investing activities	(47,503)	(2,399,378)	(816,389)
FINANCING ACTIVITIES:
Proceeds from exercise of stock warrants	0	0	165
Redemption of subordinated debt	0	0	(35,000)
Proceeds from exercise of employee stock options	924	1,160	6,313
Payments to tax authorities for stock-based compensation	(2,307)	(3,363)	(725)
Purchase of treasury stock	0	0	(15,509)
Dividends paid	(43,318)	(42,289)	(36,543)
Net cash provided by financing activities	96,402	2,262,945	771,857
Net increase in cash and cash equivalents	192,986	56,293	148,959
Cash and cash equivalents at beginning of year	436,077	379,784	230,825
Cash and cash equivalents at end of year	629,063	436,077	379,784
Veritex Holdings, Inc.
OPERATING ACTIVITIES:
Net income	108,261	146,315	139,584
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of debt discount and debt issuance costs, net	786	790	817
Equity in undistributed net income of Bank	(59,647)	(121,350)	(142,289)
(Increase) decrease in other assets	(5,552)	(7,801)	902
Decrease (increase) in other liabilities	8,303	504	(3,177)
Net cash provided by operating activities	52,151	18,458	(4,163)
INVESTING ACTIVITIES:
Advances to subsidiaries	0	(154,610)	0
Net cash used in investing activities	0	(154,610)	0
FINANCING ACTIVITIES:
Net proceeds from sale of common stock in public offering	0	154,415	0
Proceeds from exercise of stock warrants	0	0	165
Redemption of subordinated debt	0	0	(35,000)
Proceeds from exercise of employee stock options	924	1,160	6,313
Payments to tax authorities for stock-based compensation	(2,307)	(3,363)	(725)
Purchase of treasury stock	0	0	(15,509)
Dividends paid	(43,318)	(42,289)	(36,543)
Net cash provided by financing activities	(44,701)	109,923	(81,299)
Net increase in cash and cash equivalents	7,450	(26,229)	(85,462)
Cash and cash equivalents at beginning of year	18,278	44,507	129,969
Cash and cash equivalents at end of year	$ 25,728	$ 18,278	$ 44,507

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Bank Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Impairment charges	$ 0	$ 0	$ 0
Site improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	15 years
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Minimum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Maximum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	40 years
Maximum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years

SECURITIES - Securities (Details) - USD ($) $ in Thousands	12 Months Ended
SECURITIES - Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value	$ 105	$ (1,246)	$ (325)

DEPOSITS - Scheduled Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statistical Disclosure for Banks [Abstract]
2024	$ 2,854,476
2025	322,311
2026	7,532
2027	3,638
2028	3,780
Total	$ 3,191,737	$ 2,086,642

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nature of Organization (Details)	12 Months Ended
	Dec. 31, 2023 branch
Dallas-Fort Worth
Product Information [Line Items]
Number of branches	18
Houston
Product Information [Line Items]
Number of branches	11

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	GRANT THORNTON LLP
Auditor Location	Dallas, Texas
Auditor Firm ID	248

EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Matching contributions to 401(k) profit sharing Plan	$ 4,905	$ 4,661

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Marketing Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Marketing expense	$ 8,704	$ 7,179	$ 5,344

LHI AND ACL (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Summary of Loans

LHI in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
LHI, carried at amortized cost:
Real estate:
Construction and land	$	1,734,254	$	1,787,400
Farmland	31,114		43,500
1 - 4 family residential	937,119		894,456
Multi-family residential	605,817		322,679
OOCRE	794,088		715,829
NOOCRE	2,350,725		2,341,379
Commercial	2,752,063		2,942,348
MW	377,796		446,227
Consumer	10,149		7,806
	9,593,125		9,501,624

Deferred loan fees, net	(8,785)		(18,973)
ACL	(109,816)		(91,052)
Total LHI, net	$	9,474,524	$	9,391,599

The activity in the ACL related to LHI is as follows:


	December 31, 2023
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of year	$	13,120	$	127	$	9,533	$	2,607	$	8,707	$	26,704	$	30,142	$	—	$	112	$	91,052
Credit loss (benefit) expense non-PCD loans	7,958		(26)		26		2,467		2,352		13,706		15,458		260		159		42,360
Credit (benefit) loss expense PCD loans	(46)		—		(2)		—		48		618		(466)		—		—		152
Charge-offs	—		—		(21)		(192)		(855)		(13,649)		(10,413)		—		(236)		(25,366)
Recoveries	—		—		3		—		—		350		1,165		—		100		1,618
Ending Balance	$	21,032	$	101	$	9,539	$	4,882	$	10,252	$	27,729	$	35,886	$	260	$	135	$	109,816


	December 31, 2022
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of year	$	7,293	$	187	$	5,982	$	2,664	$	9,215	$	30,548	$	21,632	$	—	$	233	$	77,754
Credit loss (benefit) expense non-PCD loans	5,855		(60)		3,757		(57)		4,633		(2,588)		18,933		—		2,355		32,828
Credit loss (expense) benefit PCD loans	(28)		—		(237)		—		(2,766)		429		(2,000)		—		(1,276)		(5,878)
Charge-offs	—		—		—		—		(2,646)		(2,410)		(9,731)		—		(1,285)		(16,072)
Recoveries	—		—		31		—		271		725		1,308		—		85		2,420
Ending Balance	$	13,120	$	127	$	9,533	$	2,607	$	8,707	$	26,704	$	30,142	$	—	$	112	$	91,052


	December 31, 2021
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of year	$	7,768	$	56	$	8,148	$	6,231	$	9,719	$	35,237	$	37,554	$	—	$	371	$	105,084
Credit loss (benefit) expense non-PCD loans	(547)		131		(2,153)		(3,567)		(2,325)		(7,490)		(9,510)		—		(401)		(25,862)
Credit loss expense PCD loans	72		—		302		—		3,721		10,737		7,622		—		59		22,513
Charge-offs	—		—		(379)		—		(2,400)		(7,936)		(15,576)		—		(99)		(26,390)
Recoveries	—		—		64		—		500		—		1,542		—		303		2,409
Ending Balance	$	7,293	$	187	$	5,982	$	2,664	$	9,215	$	30,548	$	21,632	$	—	$	233	$	77,754

Schedule of Amortized Cost Basis of Collateral Dependent Loans

The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of December 31, 2023 and 2022 :


	December 31, 2023					December 31, 2022
		Real Property		ACL Allocation			Real Property		ACL Allocation





OOCRE		$	3,059	$	47		$	1,193	$	129
NOOCRE		21,169		—			20,896		2,138
Commercial		20,711		3,339			1,240		396

Consumer		—		—			15		—
Total		$	44,939	$	3,386		$	23,344	$	2,663

Schedule of Non-Accrual Loans, Excluding Purchased Credit Impaired Loans, Aggregated By Class of Loans

Nonaccrual loans, aggregated by class of loans, as of December 31, 2023 and 2022, were as follows:


	December 31, 2023				December 31, 2022
	Nonaccrual		Nonaccrual With No ACL			Nonaccrual		Nonaccrual With No ACL
Construction and land	$	6,793	$	6,793		$	—	$	—

1 - 4 family residential	1,965		1,965			862		862

OOCRE	9,719		9,493			9,737		8,545
NOOCRE	33,479		33,479			21,377		13,178
Commercial	40,868		10,610			11,397		2,521

Consumer	24		24			169		169
Total	$	92,848	$	62,364		$	43,542	$	25,275

Schedule of Age Analysis of Past Due Loans, Excluding Purchased Credit Impaired Loans, Aggregated by Class of Loans

An age analysis of past due loans, aggregated by class of loans, as of December 31, 2023 and 2022 is as follows:


	December 31, 2023
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due(1)		Total Current		PCD		Total Loans		Total 90 Days Past Due and Still Accruing(2)
Construction and land	$	29,379	$	—	$	6,793	$	36,172	$	1,698,082	$	—	$	1,734,254	$	—
Farmland	—		—		—		—		31,114		—		31,114		—
1 - 4 family residential	4,359		2,535		3,691		10,585		925,404		1,130		937,119		1,726
Multi-family residential	15,095		—		—		15,095		590,722		—		605,817		—
OOCRE	916		114		10,185		11,215		764,703		18,170		794,088		466
NOOCRE	3,182		642		20,547		24,371		2,312,270		14,084		2,350,725		783
Commercial	3,485		1,394		8,446		13,325		2,735,830		2,908		2,752,063		—
MW	—		—		—		—		377,796		—		377,796		—
Consumer	76		—		—		76		10,060		13		10,149		—
	$	56,492	$	4,685	$	49,662	$	110,839	$	9,445,981	$	36,305	$	9,593,125	$	2,975

(1) Total past due loans includes $13,715 of pooled PCD loans as of December 31, 2023.

(2) Loans 90 days past due and still accruing excludes $676 of PCD loans of as of December 31, 2023.


	December 31, 2022
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due (1)		Total Current		PCD		Total Loans		Total 90 Days Past Due and Still Accruing (2)
Construction and land	$	1,121	$	2,111	$	—	$	3,232	$	1,782,624	$	1,544	$	1,787,400	$	—
Farmland	—		—		—		—		43,500		—		43,500		—
1 - 4 family residential	4,319		129		499		4,947		888,329		1,180		894,456		123
Multi-family residential	1,000		—		—		1,000		321,679		—		322,679		—
OOCRE	3,342		1,186		1,193		5,721		690,291		19,817		715,829		—
NOOCRE	5,156		—		20,896		26,052		2,302,579		12,748		2,341,379		—
Commercial	3,088		2,188		1,675		6,951		2,931,696		3,701		2,942,348		—
MW	—		—		—		—		446,227		—		446,227		—
Consumer	352		—		45		397		7,386		23		7,806		2
	$	18,378	$	5,614	$	24,308	$	48,300	$	9,414,311	$	39,013	$	9,501,624	$	125

(1)Total past due loans includes $13,178 of pooled PCD loans as of December 31, 2022.

(2) Loans 90 days past due and still accruing excludes $2,004 of pooled PCD loans as of December 31, 2022.

Schedule of Terms of Certain Loans That Were Modified as Troubled Debt Restructurings

The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted during the twelve months ended December 31, 2023:

Loan Modifications Made to Borrowers Experiencing Financial Difficulty

Interest Rate Reduction

Amortized Cost Basis

% of Loan Class

Financial Impact

1-4 Family Residential Rentals1

41,066

4.4

Reduced weighted-average contractual interest rate from floating 7.5% to fixed 6.0%

1 1-4 Family Residential Rentals is included in the 1-4 family residential loan portfolio and is reported as such in accordance with Federal Financial Institutions Examination Council guidelines.


	Term Extension
	Amortized Cost Basis		% of Loan Class		Financial Impact
NOOCRE	$	23,624	1.0	%	Principal and interest deferred over three months
Commercial	24,733		0.9	%	Principal and interest deferred over three months
	$	48,357

The following table depicts the performance of loans that have been modified in the last 12 months:


Payment Status
	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due
1-4 Family Residential Rentals	$	41,066	$	—	$	—	$	—
NOOCRE	23,624		—		—		—
Commercial	23,346		—		—		1,387
Total	$	88,036	$	—	$	—	$	1,387

Summary of Internal Ratings of Loans, Including Purchased Credit Impaired Loans

The Company considers the guidance in ASC 310-20 when determining whether a modification, extension or renewal of a loan constitutes a current period origination. Generally, current period renewals of credit are re-underwritten at the point of renewal and considered current period originations for purposes of the table below. Based on the most recent analysis performed, the risk category of loans by class of loans based on year or origination is as follows:


	Term Loans Amortized Cost Basis by Origination Year1
	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31,
Construction and land:
Pass	$	116,333	$	740,244	$	538,946	$	109,017	$	3,089	$	3,661	$	181,940	$	—	$	1,693,230
Special mention	593		13,782		4,980		3,439		—		8,760		2,677		—		34,231
Substandard	—		6,547		—		246		—		—		—		—		6,793

Total construction and land	$	116,926	$	760,573	$	543,926	$	112,702	$	3,089	$	12,421	$	184,617	$	—	$	1,734,254
Construction and land gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Farmland:
Pass	$	2,531	$	4,398	$	—	$	17,999	$	15	$	4,944	$	1,227	$	—	$	31,114



Total farmland	$	2,531	$	4,398	$	—	$	17,999	$	15	$	4,944	$	1,227	$	—	$	31,114
Farmland gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

1 - 4 family residential:
Pass	$	73,289	$	140,824	$	193,914	$	79,767	$	38,589	$	270,193	$	114,275	$	17,255	$	928,106
Special mention	3,732		531		—		—		—		238		—		—		4,501
Substandard	—		144		902		—		106		1,701		529		—		3,382
PCD	—		—		—		—		—		1,130		—		—		1,130
Total 1-4 family residential	$	77,021	$	141,499	$	194,816	$	79,767	$	38,695	$	273,262	$	114,804	$	17,255	$	937,119
1-4 Family gross charge-offs	$	—	$	—	$	—	$	—	$	21	$	—	$	—	$	—	$	21

Multi-family residential:
Pass	$	9,441	$	82,040	$	257,714	$	196,575	$	8,054	$	14,570	$	10,627	$	—	$	579,021
Special mention	—		—		—		—		—		11,701		—		—		11,701
Substandard	—		—		—		—		—		15,095		—		—		15,095

Total multi-family residential	$	9,441	$	82,040	$	257,714	$	196,575	$	8,054	$	41,366	$	10,627	$	—	$	605,817


Multifamily gross charge-offs	$	—	$	—	$	—	$	—	$	192	$	—	$	—	$	—	$	192

OOCRE:
Pass	$	129,463	$	178,777	$	113,207	$	90,219	$	39,876	$	166,270	$	4,618	$	—	$	722,430
Special mention	5,481		—		2,479		1,019		1,961		14,775		210		—		25,925
Substandard	—		9,357		2,131		3,644		736		11,695		—		—		27,563
PCD	—		—		—		—		—		18,170		—		—		18,170
Total OOCRE	$	134,944	$	188,134	$	117,817	$	94,882	$	42,573	$	210,910	$	4,828	$	—	$	794,088
OOCRE gross charge-offs	$	—	$	—	$	—	$	369	$	5	$	481	$	—	$	—	$	855

NOOCRE:
Pass	$	33,525	$	724,110	$	500,354	$	247,385	$	148,046	$	381,559	$	30,524	$	577	$	2,066,080
Special mention	—		5,950		25,985		26,175		68,616		55,805		—		—		182,531
Substandard	—		3,858		2,774		364		2,620		78,414		—		—		88,030
PCD	—		—		—		—		—		14,084		—		—		14,084
Total NOOCRE	$	33,525	$	733,918	$	529,113	$	273,924	$	219,282	$	529,862	$	30,524	$	577	$	2,350,725
NOOCRE gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	13,649	$	—	$	—	$	13,649

Commercial:
Pass	$	314,939	$	384,713	$	86,757	$	38,554	$	43,535	$	45,812	$	1,725,663	$	1,044	$	2,641,017
Special mention	4,584		13,583		12,794		541		—		10,144		9,392		35		51,073
Substandard	640		16,974		3,978		545		3,767		15,843		15,244		74		57,065
PCD	—		—		—		—		—		2,908		—		—		2,908
Total commercial	$	320,163	$	415,270	$	103,529	$	39,640	$	47,302	$	74,707	$	1,750,299	$	1,153	$	2,752,063
Commercial gross charge-offs	$	—	$	2,158	$	—	$	2,572	$	1,083	$	4,600	$	—	$	—	$	10,413

MW:
Pass	$	1,905	$	—	$	—	$	—	$	—	$	—	$	375,891	$	—	$	377,796



Total MW	$	1,905	$	—	$	—	$	—	$	—	$	—	$	375,891	$	—	$	377,796
MW gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer:
Pass	$	4,552	$	1,045	$	276	$	604	$	89	$	1,678	$	1,728	$	—	$	9,972
Special mention	—		—		—		—		—		85		—		—		85
Substandard	—		—		4		—		12		63		—		—		79
PCD	—		—		—		—		—		13		—		—		13
Total consumer	$	4,552	$	1,045	$	280	$	604	$	101	$	1,839	$	1,728	$	—	$	10,149
Consumers gross charge-offs	$	—	$	29	$	2	$	—	$	—	$	205	$	—	$	—	$	236

Total Pass	$	685,978	$	2,256,151	$	1,691,168	$	780,120	$	281,293	$	888,687	$	2,446,493	$	18,876	$	9,048,766
Total Special Mention	14,390		33,846		46,238		31,174		70,577		101,508		12,279		35		310,047
Total Substandard	640		36,880		9,789		4,799		7,241		122,811		15,773		74		198,007
Total PCD	—		—		—		—		—		36,305		—		—		36,305
Total	$	701,008	$	2,326,877	$	1,747,195	$	816,093	$	359,111	$	1,149,311	$	2,474,545	$	18,985	$	9,593,125
Total gross charge-offs	$	—	$	2,187	$	2	$	2,941	$	1,301	$	18,935	$	—	$	—	$	25,366

Term loans amortized cost basis by origination year excludes $8,785 of deferred loan fees, net.


	Term Loans Amortized Cost Basis by Origination Year1
	2022			2021			2020			2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31,
Construction and land:
Pass	$	347,855		$	709,208		$	378,229		$	69,241	$	30,673	$	14,025	$	215,263	$	140	$	1,764,634
Special mention	—			18,662			2,560			—		—		—		—		—		21,222

PCD	—			—			—			—		—		1,544		—		—		1,544
Total construction and land	$	347,855		$	727,870		$	380,789		$	69,241	$	30,673	$	15,569	$	215,263	$	140	$	1,787,400

Farmland:
Pass	$	2,546		$	16,242		$	18,530		$	21	$	—	$	5,069	$	1,092	$	—	$	43,500



Total farmland	$	2,546		$	16,242		$	18,530		$	21	$	—	$	5,069	$	1,092	$	—	$	43,500

1 - 4 family residential:
Pass	$	135,006		$	188,635		$	87,861		$	43,293	$	41,960	$	257,768	$	86,900	$	726	$	842,149
Special mention	—			—			—			—		—		278		26,068		—		26,346
Substandard	—			184			—			—				1,028		23,569		—		24,781
PCD	—			—			—			—		—		1,180		—		—		1,180
Total 1 - 4 family residential	$	135,006		$	188,819		$	87,861		$	43,293	$	41,960	$	260,254	$	136,537	$	726	$	894,456

Multi-family residential:
Pass	$	72,044		$	80,793		$	110,426		$	8,402	$	32,822	$	2,494	$	—	$	—	$	306,981

Substandard	—			—			—			1,954		13,744		—		—		—		15,698

Total multi-family residential	$	72,044		$	80,793		$	110,426		$	10,356	$	46,566	$	2,494	$	—	$	—	$	322,679

OOCRE:
Pass	$	191,044		$	106,698		$	84,230		$	43,965	$	49,461	$	167,968	$	5,225	$	—	$	648,591
Special mention	—			2,321			1,409			1,964		—		3,447		—		45		9,186
Substandard	—			—			—			—		23,231		15,004		—		—		38,235
PCD	—			—			—			—		—		19,817		—		—		19,817
Total OOCRE	$	191,044		$	109,019		$	85,639		$	45,929	$	72,692	$	206,236	$	5,225	$	45	$	715,829

NOOCRE:
Pass	$	752,476		$	531,735		$	215,076		$	149,246	$	196,424	$	305,434	$	16,642	$	465	$	2,167,498
Special mention	—			—			22,774			19,464		12,274		51,451		—		—		105,963
Substandard	—		0	—		0	—		0	1,310		7,659		46,201		—		—		55,170
PCD	—			—			—			—		12,697		51		—		—		12,748
Total NOOCRE	$	752,476		$	531,735		$	237,850		$	170,020	$	229,054	$	403,137	$	16,642	$	465	$	2,341,379

Commercial:
Pass	$	473,084		$	132,396		$	90,543		$	83,996	$	40,030	$	31,269	$	1,906,074	$	553	$	2,757,945
Special mention	—			666			—			4,543		7,385		270		114,447		—		127,311
Substandard	17,894			4,058			5,189			4,195		10,954		4,732		6,292		77		53,391
PCD	—			—			—			—		273		3,428		—		—		3,701
Total commercial	$	490,978		$	137,120		$	95,732		$	92,734	$	58,642	$	39,699	$	2,026,813	$	630	$	2,942,348

MW:
Pass	$	—		$	—		$	—		$	—	$	—	$	—	$	444,393	$	—	$	444,393
Special mention	—			—			—			—		—		—		1,626		—		1,626
Substandard	—			—			—			—		46		162		—		—		208

Total MW	$	—		$	—		$	—		$	—	$	46	$	162	$	446,019	$	—	$	446,227


Consumer:
Pass	$	1,965	$	452	$	872	$	216	$	135	$	2,298	$	1,618	$	—	$	7,556
Special mention	—		—		—		—		—		58		—		—		58
Substandard	—		—		—		—		—		169		—		—		169
PCD	—		—		—		—		—		23		—		—		23
Total consumer	$	1,965	$	452	$	872	$	216	$	135	$	2,548	$	1,618	$	—	$	7,806

Total Pass	$	1,976,020	$	1,766,159	$	985,767	$	398,380	$	391,505	$	786,325	$	2,677,207	$	1,884	$	8,983,247
Total Special Mention	—		21,649		26,743		25,971		19,659		55,504		142,141		45		291,712
Total Substandard	17,894		4,242		5,189		7,459		55,634		67,296		29,861		77		187,652
Total PCD	—		—		—		—		12,970		26,043		—		—		39,013
Total	$	1,993,914	$	1,792,050	$	1,017,699	$	431,810	$	479,768	$	935,168	$	2,849,209	$	2,006	$	9,501,624

1 Term loans amortized cost basis by origination year excludes $18,973 of deferred loan fees, net.

Schedule of Summary of Changes in Servicing Assets

A summary of the changes in the related servicing assets are as follows:


	Year Ended December 31,
	2023		2022
Balance at beginning of year	$	14,880	$	17,705

Increase from loan sales	2,170		2,670
Servicing asset impairment, net of recoveries	919		(1,823)
Amortization charged as a reduction to income	(4,711)		(3,672)

Balance at year-end	$	13,258	$	14,880

Schedule of Loans Held-for-Sale, Principal Sold

The following table reflects principal sold and related gain for SBA and USDA LHFI. The gain on sale of these loans is recorded in gain on sale of SBA LHFS and gain on sale of USDA LHFS in the Company's consolidated statements of income.


	Year Ended December 31,
	2023		2022		2021
SBA LHFI principal sold	$	16,608	$	9,491	$	40,001
Gain on sale of SBA LHFI	1,291		848		4,911
USDA LHFI principal sold	64,080		72,670		—
Gain on sale of USDA LHFI	9,797		10,731		—

Schedule of Financing Receivable Held-for-Sale

The following table reflects LHFS.


	December 31, 2023		December 31, 2022
SBA/USDA construction and land	$	41,492	$	12,296
1 - 4 family residential	788		866
SBA/USDA OOCRE	16,758		5,915

NOOCRE	10,500		—
SBA/USDA commercial	9,534		1,564
Total LHFS	$	79,072	$	20,641

LHI AND ACL - Servicing Assets (Details) - USD ($)	12 Months Ended
LHI AND ACL - Servicing Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Servicing Asset at Amortized Cost [Line Items]
Servicing asset	$ 579,698,000	$ 543,220,000
Summary of changes in related servicing assets
Balance at beginning of year	14,880,000	17,705,000
Increase from loan sales	2,170,000	2,670,000
Servicing asset impairment, net of recoveries	919,000	(1,823,000)
Amortization charged as a reduction to income	(4,711,000)	(3,672,000)
Balance at year-end	13,258,000	14,880,000	$ 17,705,000
Valuation allowance recorded	1,532,000	2,451,000
Interest receivable	0	0
Proceeds from sale of loans	53,410,000	61,130,000	112,606,000
Gain on sale of loans	77,000	550,000	1,592,000
Small Business Administration Loans
Summary of changes in related servicing assets
Proceeds from sale of loans	16,608,000	9,491,000	40,001,000
Gain on sale of loans	1,291,000	848,000	4,911,000
USDA Loans
Summary of changes in related servicing assets
Proceeds from sale of loans	64,080,000	72,670,000	0
Gain on sale of loans	$ 9,797,000	$ 10,731,000	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment loss, equity securities	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounting Standards Codification ("ASC")

ASC

The FASB ASC is the officially recognized source of authoritative GAAP applicable to all public and non-public non-governmental entities. Rules and interpretive releases of the SEC under the authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. All other accounting literature is considered non-authoritative. Citing particular content in the ASC involves specifying the unique numeric path to the content through the Topic, Subtopic, Section and Paragraph structure.

Segment Reporting

The Company has one reportable segment. All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each activity of the Company supports the others. For example, lending is dependent upon the ability of the Company to fund itself with deposits and borrowings while managing interest rate and credit risk. Accordingly, all significant operating decisions are based upon analysis of the Bank as one segment or unit. The Company’s chief operating decision-maker, the Chief Executive Officer, uses the consolidated results to make operating and strategic decisions.

Reclassifications

Certain items in the Company's prior year financial statements were reclassified to conform to the current presentation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. The allowance for credit losses, the fair values of financial instruments, realization of deferred tax assets, and the status of contingencies are particularly subject to change.

Cash and Cash Equivalents

Cash and cash equivalents include amounts due from banks, interest-bearing deposits in other banks and federal funds sold.

The Bank maintains deposits with other financial institutions in amounts that exceed federal deposit insurance coverage. Furthermore, federal funds sold are essentially uncollateralized loans to other financial institutions. Management regularly evaluates the credit risk associated with the counterparties to these transactions and believes that the Company is not exposed to any significant credit risks on cash and cash equivalents.

Debt Securities

Debt securities that the Company has both the positive intent and ability to hold to maturity are classified as HTM and are carried at amortized cost. Debt securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity, are classified as AFS and are carried at fair value. Unrealized gains and losses on debt securities classified as AFS have been accounted for as accumulated other comprehensive income (loss), net of taxes. Management determines the appropriate classification of debt securities at the time of purchase.

Interest income includes amortization of purchase premiums and discounts over the period to maturity using a level-yield method, except for premiums on callable debt securities. Realized gains and losses are recorded on the sale of debt securities in noninterest income.

The Company has made a policy election to exclude accrued interest from the amortized cost basis of debt securities and report accrued interest separately in other assets on the consolidated balance sheets. A debt security is placed on nonaccrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. Accrued interest for a security placed on nonaccrual is reversed against interest income.

Transfers of debt securities from AFS to HTM

Transfers of debt securities into the HTM category from the AFS category are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer is retained in other comprehensive income and in the carrying value of the HTM securities. Such amounts are amortized over the remaining life of the security.

Equity Securities

Equity securities are recorded at fair value, with unrealized gains and losses included in other noninterest income. The Company measures equity securities that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Dividends on equity securities are recorded in interest income for equity securities and other investments. Realized gains and losses are recorded on the sale of equity securities in gain (loss) on sales of securities.

ACL

ACL – AFS Debt Securities

For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For debt securities AFS that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in other comprehensive income.

Changes in the ACL are recorded as provision for (or benefit of) credit loss expense. Losses are charged against the allowance when management believes the non-collectability of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses.

ACL – HTM Debt Securities

Management measures expected credit losses on HTM debt securities on a collective basis by major security type. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Accrued interest receivable on HTM debt securities is excluded from the estimate of credit losses.

Management classifies the HTM portfolio into the following major security types: mortgage-backed securities, collateralized mortgage obligations and municipal securities. All of the mortgage-backed securities and collateralized mortgage obligations held by the Company are issued by U.S. government entities and agencies. These debt securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses.

ACL - Loans

The ACL is a valuation account that is deducted from the LHI amortized cost basis to present the net amount expected to be collected on LHI.

The Company estimates the ACL on LHI based on the underlying assets’ amortized cost basis, which is the amount at which the financing receivable is originated or acquired, adjusted for applicable accretion or amortization of premium, discount, and net deferred fees or costs, collection of cash, and charge-offs. In the event that collection of principal becomes uncertain, the Company has policies in place to reverse accrued interest in a timely manner. Therefore, the Company has made a policy election to exclude accrued interest from the measurement of ACL.

Expected credit losses are reflected in the ACL through a charge to provision for credit loss expense. When the Company deems all or a portion of a financial asset to be uncollectible the appropriate amount is written off and the ACL is reduced by the same amount. The Company applies judgment to determine when a financial asset is deemed uncollectible; however, an asset will typically be considered uncollectible no later than when all efforts at collection have been exhausted. Subsequent recoveries, if any, are credited to the ACL when received.

The Company measures expected credit losses of financial assets on a collective, or pool, basis, when the financial assets share similar risk characteristics. Depending on the nature of the pool of financial assets with similar risk characteristics, the Company uses a DCF method or a loss-rate method to estimate expected credit losses. The Company uses a PD/LGD model to estimate expected credit losses for our PCD loans and pools acquired prior to January 1, 2020.

The Company’s methodologies for estimating the ACL take into account available relevant information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The methodologies apply historical loss information, adjusted for asset-specific characteristics, economic conditions

at the measurement date, and forecasts about future economic conditions expected to exist through the contractual lives of the financial assets that are reasonable and supportable, to the identified pools of financial assets with similar risk characteristics for which the historical loss experience was observed.

The Company has identified the following pools of financial assets with similar risk characteristics for measuring expected credit losses:

Real Estate — This category of loans consists of the following loan types:

Construction and land — This category of loans consists of loans to finance the ground up construction, improvement and/or carrying for sale after the completion of construction of owner occupied and non-owner occupied residential and commercial properties, and loans secured by raw or improved land. The repayment of construction loans is generally dependent upon the successful completion of the improvements by the builder for the end user, or sale of the property to a third party. Repayment of land secured loans are dependent upon the successful development and sale of the property, the sale of the land as is, or the outside cash flow of the owners to support the retirement of the debt.

Farmland — These loans are principally loans to purchase farmland.

1-4 family residential — This category of loans includes both first and junior liens on residential real estate. Home equity revolving lines of credit and home equity term loans are included in this group of loans.

Multi-family residential — This category of loans is primarily secured by non-owner occupied apartment or multifamily residential buildings. Generally, these types of loans are thought to involve a greater degree of credit risk than owner occupied CRE as they are more sensitive to adverse economic conditions.

OOCRE — This category of loans includes real estate loans for a variety of commercial property types and purposes. The repayment of real estate loans is generally largely dependent on the successful operation of the property securing the loans or the business conducted on the property securing the loan. Real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s real estate portfolio are generally diverse in terms of type and geographic location, throughout the Dallas-Fort Worth metroplex and Houston metropolitan area. This diversity helps reduce the exposure to adverse economic events that may affect any single market or industry.

NOOCRE — This category of loans includes investment real estate loans that are primarily secured by office and industrial buildings, retail shopping centers and various special purpose properties. Generally, these types of loans are thought to involve a greater degree of credit risk than OOCRE as they are more sensitive to adverse economic conditions.

Commercial — This category of loans is for commercial, corporate and business purposes. The Company’s commercial business loan portfolio is comprised of loans for a variety of purposes and across a variety of industries. These loans include general commercial and industrial loans, loans to purchase capital equipment, agriculture operating loans and other business loans for working capital and operational purposes. Most commercial loans are secured by the assets being financed or other business assets, such as accounts receivable or inventory.

Mortgage warehouse — Mortgage warehouse facilities are provided to unaffiliated mortgage origination companies and are collateralized by 1-4 family residential loans. The originator closes new mortgage loans with the intent to sell these loans to third party investors for a profit. The Company provides funding to the mortgage companies for the period between the origination and their sale of the loan. The Company is repaid with the proceeds received from sale of the mortgage loan to the final investor.

Consumer — This category of loans is used for personal use typically for consumer purposes.

Collateral Dependent Financial Assets

Loans that do not share similar risk characteristics are evaluated on an individual basis. For collateral dependent financial assets where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the fair value of the collateral and

the amortized cost basis of the asset as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the present value of expected cash flows from the operation of the collateral. When repayment is expected to be from the sale of the collateral, expected credit losses are calculated as the amount by which the amortized costs basis of the financial asset exceeds the fair value of the underlying collateral less estimated costs to sell. The ACL may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the financial asset.

For collateralized financial assets that are not collateral dependent, the Company will consider the nature of the collateral, potential future changes in collateral values, and historical loss information for financial assets secured with similar collateral to determine the ACL.

Modifications to Borrowers Experiencing Financial Difficulty

The Company adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) effective January 1, 2023. The amendments in ASU 2022-02 eliminated the recognition and measure of troubled debt restructurings and enhanced disclosures for loan modifications to borrowers experiencing financial difficulty. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts.

Contractual Term

The Company’s estimate of the ACL reflects losses expected over the remaining contractual life of the assets. The contractual term does not consider extensions, renewals or modifications unless the Company has identified an expected TLM.

Discounted Cash Flow Method

The Company uses the DCF method to estimate expected credit losses for the CRE, construction and land, 1-4 family residential, commercial (excluding liquid credit and premium finance), and consumer loan pools. For each of these loan segments, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speeds, curtailment rates, time to recovery, probability of default and loss given default. The modeling of expected prepayment speeds, curtailment rates and time to recovery are based on historical internal data.

The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. For all loan pools utilizing the DCF method, management utilizes and forecasts Texas unemployment as a loss driver. Management also utilizes and forecasts either one-year percentage change in Texas gross domestic product or one-year percentage change in the CRE property index as a second loss driver depending on the nature of the underlying loan pool and how well that loss driver correlates to expected future losses.

For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over four quarters on a straight-line basis as of the reporting period. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics.

The combination of adjustments for credit expectations (default and loss) and timing expectations (prepayment speeds, curtailment rates and time to recovery) produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level net present value of expected cash flows (“NPV”). An ACL is established for the difference between the instrument’s NPV and amortized cost basis. The ACL is further refined for qualitative loss factors based on management's judgment of company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans, and reasonable and supportable forecasts of economic conditions.

Loss-Rate Method

The Company uses a loss-rate method to estimate expected credit losses for its farmland and MW loan pool. For these loan segments, the Company applies an expected loss ratio based on internal and peer historical losses adjusted as appropriate for qualitative factors. Qualitative loss factors are based on management's judgment of company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans, and reasonable and supportable forecasts of economic conditions.

Probability of Default/Loss Given Default Method

The Company uses the PD/LGD method to estimate expected credit losses for the construction and land, 1-4 family residential, OOCRE, NOOCRE, commercial and consumer PCD loan pools. For each of these loan segments, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speeds, time to recovery, probability of default, and loss given default.

The combination of adjustments for credit expectations (default and loss) and timing expectations (prepayment, curtailment and time to recovery) produces an expected cash flow stream at the instrument level. An ACL is established for the difference between the instrument’s undiscounted cash flows and amortized cost basis. The ACL is further refined for qualitative loss factors based on management's judgment of company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans, and reasonable and supportable forecasts of economic conditions.

FHLB and FRB Stock

The Bank is a member of its regional FRB and of the FHLB system. FHLB members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. Both FRB and FHLB stock are carried at cost, restricted for sale, and periodically evaluated for impairment based on ultimate recovery of par value. Dividends are recorded in interest income for equity securities and other investments.

LHFS

Loans are classified as held-for-sale when management has positively determined that the loans will be sold in the foreseeable future and the Company has the intent and ability to do so. The Company’s held-for-sale loans typically consist of certain government guaranteed loans or mortgage loans. The classification may be made upon origination or subsequent to origination or purchase. Once a decision has been made to sell loans not previously classified as held-for-sale, such loans are transferred into the held-for-sale classification and carried at the lower of cost or estimated fair value on an individual loan basis, except for those held-for-sale loans for which the Company elects to use the fair value option. The fair value of loans held-for-sale is based on commitments from investors or prevailing market prices. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. The Company obtains commitments to purchase the loans from secondary market investors prior to closing of the loans. Mortgage LHFS are sold with servicing released. Gains and losses on sales of LHFS are based on the difference between the selling price and the carrying value of the related loan sold.

Fair Value Option

On a specific identification basis, the Company may elect the fair value option for certain financial instruments in the period the financial instrument was originated or acquired. As of December 31, 2023, the Company had held for sale government guaranteed loans that the Company has elected to carry at fair value. Changes in fair value for instruments using the fair value option are recorded in noninterest income. The Company had an increase in fair value for loans the Company elected to carry at fair value of $4,417 for the year ended December 31, 2023 as compared to a decrease in the fair value for loans the Company elected to carry at fair value of $1,072 for the year ended December 31, 2022. There was an increase of $1,845 in fair value for loans using the fair value option for the year ended December 31, 2021.

Gain on Sale of Loans

Gain on Sale of Guaranteed Portion of SBA and USDA Loans

The Company originates loans to customers under government guaranteed programs that generally provide for guarantees of 50% to 90% of each loan, subject to a maximum guaranteed amount. The Company can sell the guaranteed portion of the loan in an active secondary market and retains the unguaranteed portion in its portfolio.

All sales of government guaranteed loans are executed on a servicing retained basis, and the Company retains the rights and obligations to service the loans. The standard sale structure provides for the Company to retain a portion of the cash flow from the interest payment received on the loan. When a loan sale involves the transfer of an interest less than the entire loan, the controlling accounting method under FASB ASC 860, Transfers and Servicing, requires the seller to reallocate the carrying basis between the assets transferred and the assets retained based on the relative fair value of the respective assets as of

the date of sale. The maximum gain on sale that can be recognized is the difference between the fair value of the assets sold and the reallocated basis of the assets sold. The gain on sale, which is recognized in gain on sale of SBA LHFS and gain on sale of USDA LHFS on the consolidated statements of income, is the sum of the cash premium on the guaranteed loan and the fair value of the servicing assets recognized, less the discount recorded on the unguaranteed portion of the loan retained by the Company. For the years ended December 31, 2023, 2022 and 2021, the Company recognized $15,565, $12,988, and $6,194, respectively, of gain on sales of government guaranteed loans.

Gain on Sale of Mortgage LHFS

Certain mortgage LHFS are sold with servicing released. Gains and losses on sales of mortgage LHFS are based on the difference between the selling price and the carrying value of the loan sold.

LHI

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost, net of the ACL. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, fair value hedge accounting adjustments, deferred loan fees and costs. The Company has made a policy election to exclude accrued interest from the amortized cost basis of loans and report accrued interest separately from the related loan balance in other assets on the Consolidated Balance Sheets.

Interest on loans is recognized using the effective-interest method on the daily balances of the principal amounts outstanding. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due in accordance with the terms of the loan agreement. The accrual of interest on loans is discontinued when, in management’s opinion, the borrower may be unable to meet payment obligations as they come due, as well as when required by regulatory provisions. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. When a loan is placed on nonaccrual status, all interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Loan Commitments and ACL on Off-Balance Sheet Credit Exposures

Financial instruments include OBS credit instruments, such as commitments to make loans, MW commitments and standby and commercial letters of credit, issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for OBS loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded.

The Company records an ACL on OBS credit exposures, unless the commitments to extend credit are unconditionally cancellable, through a charge to provision for credit losses for unfunded commitments included in the Company’s consolidated statements of income. The ACL on OBS credit exposures is estimated by loan segment at each balance sheet date under the CECL model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur, and is included in accounts payable and other liabilities on the Company’s consolidated balance sheets.

Derivatives Financial Instruments

Derivative Financial Instruments (Not Designated as Accounting Hedges)

The Company has entered into certain derivative instruments pursuant to a customer accommodation program under which the Company enters into an interest rate swap, cap or collar agreement with a commercial customer and an agreement with offsetting terms with a correspondent bank. These derivative instruments are not designated as accounting hedges and the swap fees and changes in net fair value are recognized in noninterest income or expense on the Company’s consolidated statements of income and the fair value amounts are included in other assets and accounts payable and other liabilities on the Company’s consolidated balance sheets.

Derivative Financial Instruments (Designated as Accounting Hedges)

Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. The Company uses interest rate swaps, floors, caps and collars to manage overall cash flow changes related to interest rate risk exposure on benchmark interest rate loans. The entire change in the fair value related to the derivative instrument is recognized as a component of other comprehensive income and subsequently reclassified into interest income when the forecasted transaction affects income.

The Company assesses the “effectiveness” of hedging derivatives on the date an arrangement was entered into and on a prospective basis at least quarterly. Hedge “effectiveness” is determined by the extent to which changes in the fair value of a derivative instrument offset changes in the fair value, cash flows or carrying value attributable to the risk being hedged. If the relationship between the change in the fair value of the derivative instrument and the change in the hedged item falls within a range considered to be the industry norm, the hedge is considered “highly effective” and qualifies for hedge accounting. A hedge is “ineffective” if the relationship between the changes falls outside the acceptable range. In that case, hedge accounting is discontinued on a prospective basis. The time value of the option is excluded from the assessment of effectiveness and is

recognized in earnings using a straight-line amortization method over the life of the hedge arrangement. Gains or losses resulting from the termination or sale of a derivative accounted for as a cash flow hedge remain in other comprehensive income and are accreted or amortized to earnings over the remaining period of the former hedging relationship unless the forecasted transaction becomes probable of not occurring.

Transfers of Financial Assets

Transfers of financial assets (generally consisting of sales of LHFS and loan participation with unaffiliated banks) are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Equity Method Investments

The Company applies the equity method of accounting to investments when the Company has significant influence, but not a controlling interest in the investee. Judgment regarding the level of influence over each equity method investment includes considering key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions and material intercompany transactions.

The Company’s equity method investments are reported at cost and include direct transaction costs to make the investment. Equity method investments are subsequently adjusted each period for the Company’s proportionate share of the investee’s income or loss, which includes an elimination by the Company of any intra-entity profits and losses In addition, the Company’s subsequent proportionate share of other comprehensive income or loss is reported in the Company’s consolidated statements of comprehensive income with a corresponding adjustment to the equity method investment. Any dividends received on the investment are recognized as a reduction to the carrying amount of the investment.

On July 16, 2021, the Bank acquired a 49% interest in Thrive for $54,914 in cash and obtained the right to designate a member to Thrive’s board of directors. As a result of the investment, the Company has a $35,816 basis difference which is being accounted for as equity method goodwill.

The difference between the cost of an investment and the amount of underlying equity in net assets of the investee represents an equity method basis difference, which shall be accounted for as if the investee were consolidated. The Company accounts for the equity method basis difference as equity method goodwill. The Company assesses equity method investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. The Company recorded an impairment of $29.4 million on our equity method investment in Thrive related to Thrive’s entry into a definitive agreement in December 2023 to be acquired by Lower and the negative impact of rising rates on the fair value and volume of loans originated by Thrive.

Bank Premises and Equipment

Buildings and improvements, furniture and equipment are carried at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the respective assets as follows:


Buildings and improvements			10 - 40 years
Site improvements			15 years
Tenant improvements			Lease term
Leasehold improvements			Lease term
Furniture and equipment			3 - 10 years

Major replacements and betterments are capitalized while maintenance and repairs are charged to expense when incurred. Gains or losses on dispositions are reflected in the consolidated statements of income as incurred.

Bank premises and equipment with definite lives are tested for impairment when a triggering event occurs. No impairment charges related to bank premises and equipment assets were recorded during the years ended December 31, 2023, 2022 and 2021.

Leases

The Company’s operating leases relate primarily to office space and bank branches. Right-of-use (“ROU”) assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. ROU assets are further adjusted for lease incentives, deferred rent and prepaid rent. Operating lease expense, which consists of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in occupancy and equipment expense in the consolidated statements of income. Certain of the Company’s leases contain options to renew the lease; however, these renewal options are not included in the calculation of the lease liabilities as they are not reasonably certain to be exercised. The ROU asset and operating lease liability are recorded in other assets and other liabilities, respectively, in the consolidated balance sheets. See Note 8 - Leases for additional information.

Securities Sold Under Agreements to Repurchase

Securities sold under agreements to repurchase represent the purchase of interests in securities by the Company’s customers. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. The Company does not account for any of its repurchase agreements as sales for accounting purposes in its financial statements. Repurchase agreements are settled on the following business day. All securities sold under agreements to repurchase are collateralized by pledged debt securities. The debt securities underlying the repurchase agreements are held in safekeeping by the Bank’s safekeeping agent.

OREO

OREO represents properties acquired through or in lieu of loan foreclosure and is initially recorded at fair value less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Bank’s recorded investment in the related loan, a write-down is recognized through a charge to the ACL. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed.

BOLI

The Company has purchased life insurance policies on certain employees. These BOLI policies are recorded in the accompanying consolidated balance sheets at their cash surrender values. Income from these policies and changes in the cash surrender values are recorded in noninterest income in the Company's consolidated statements of income. Death benefit proceeds in excess of cash surrender are recorded when realized in noninterest income in the Company's consolidated statements of income.

Goodwill and Intangible Assets

Goodwill resulting from a business combination represents the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill is not amortized but is reviewed for potential impairment annually on October 31 of each fiscal year or when a triggering event occurs. The Company may first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company has an unconditional option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test, and the Company may resume performing the qualitative assessment in any subsequent period. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the Company proceeds to perform the quantitative goodwill impairment test. The quantitative goodwill impairment test, used to identify both the existence of potential impairment and the amount of impairment loss, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Any such adjustments to goodwill are reflected in the results of operations in the periods in which they become known.

During the second quarter of 2023, the Company observed a sustained decline in the market valuation of the Company’s common stock as a result of significant volatility in the banking industry with multiple high-profile bank failures and industry wide concerns related to liquidity, deposit outflows, unrealized securities losses and eroding consumer confidence in the banking system. As a result, the Company performed an interim quantitative impairment test with a trigger date of May 31, 2023. The Company determined the fair value of its reporting unit using a combination of a market and an income approach. Upon completion of the quantitative evaluation, the Company determined that the fair value of the Company's reporting unit exceeded its related carrying value, and therefore goodwill was not impaired. During the third quarter of 2023, the Company evaluated current conditions and concluded there have been no significant changes in the economic environment or projections, and no decline in fair value during the quarter.

The Company performed its annual goodwill impairment test as of October 31, 2023 using a quantitative impairment assessment and determined that it was not more likely than not that the fair value of our reporting unit was less than its carrying amount. The Company also did not identify any potential impairment indicators subsequent to our annual assessment. Management will continue to monitor events that could impact this conclusion in the future.

Intangible assets consist of core deposit intangibles and in-place lease intangibles associated with the purchase of our corporate office. Intangible assets are initially recognized based on a valuation performed as of the acquisition date and are amortized on a straight-line basis over their estimated useful lives of the respective intangible assets as follows. All in-place lease intangibles were fully amortized in 2023.


Core deposit intangible			7 - 10 years
In-place lease intangible			Lease term

Servicing Assets

The Company accounts for its servicing assets at amortized cost in accordance with ASC 860, "Servicing Assets and Liabilities." The codification requires that servicing rights acquired through the origination of loans, which are sold with servicing rights retained, are recognized as separate assets. Servicing assets are recorded as the difference between the contractual servicing fees and adequate compensation for performing the servicing, and are periodically reviewed and adjusted for any impairment. The amount of impairment recognized, if any, is the amount by which the servicing assets exceed their fair value. The amount of recovery, if any, cannot exceed the previous impairment recognized. Fair value of the servicing assets is estimated using discounted cash flows based on current market interest rates. Servicing rights are amortized over their estimated lives.

Marketing Expense

The Company expenses all marketing costs as they are incurred.

Income Taxes

The Company files a consolidated income tax return with its subsidiaries. Federal income tax expense or benefit is allocated on a separate return basis.

The Company accounts for income taxes using the asset and liability approach for financial accounting and reporting. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years.

The tax effect of unrealized gains and losses on available-for-sale debt securities and derivative instruments designated as hedges is recorded to other comprehensive income and is not a component of income tax expense/(benefit).

GAAP does not permit the adjustment of tax amounts in AOCI for changes in tax rates; as a result the effects become “stranded” in AOCI. Stranded tax effects caused by the revaluation of deferred taxes are reclassified from AOCI to retained earnings in accordance with ASU 2018-02 “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.”

The Company may recognize the tax benefit of an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements would be the benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. For the years ended December 31, 2023 and 2022, management has determined there are no material uncertain tax positions.

When necessary, the Company would include interest assessed by taxing authorities in “interest expense” and penalties related to income taxes in “other expense” on its Consolidated Statements of Income. The Company recorded $103, $22 and $126 of interest or penalties related to income tax for the years ended December 31, 2023, 2022 and 2021, respectively. With few exceptions, such as state examinations, the Company is generally no longer subject to U.S. federal income tax examinations by tax authorities for the years before 2020 and state income tax examinations for tax years prior to 2019.

Fair Value of Financial Instruments

Fair Values of Financial Instruments

Fair values of financial instruments are estimated using relevant market information and other assumptions. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. The fair value estimates of existing on and off-balance sheet financial instruments do not include the value of anticipated future business or the value of assets and liabilities not considered financial instruments.

Revenue from Contracts with Customers

The Company records revenue from contracts with customers in accordance with ASC Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation. Significant revenue has not been recognized in the current reporting period that results from performance obligations satisfied in previous periods.

The Company’s primary sources of revenue are derived from interest and dividends earned on loans, debt and equity securities and other financial instruments that are not within the scope of Topic 606. The Company has evaluated the nature of its contracts with customers and determined that further disaggregation of revenue from contracts with customers into more granular categories beyond what is presented in the consolidated statements of income was not necessary. The Company generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, the Company has made no significant judgments in applying the revenue guidance prescribed in ASC 606 that affect the determination of the amount and timing of revenue from contracts with customers.

Stock Based Compensation

Compensation cost is recognized for stock options and other equity awards (performance and non-performance based) issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. The market price of the Company’s common stock on the date of grant is used to estimate fair value for other nonperformance based equity awards. A Monte Carlo simulation is used to estimate the fair value of performance-based restricted stock units that include a vesting condition and a market condition based on the Company’s total shareholder return relative to a peer group comprised of commercial banks in similar markets, which determines the number of shares of Company common stock subject to the restricted stock unit.

Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award.

Treasury Stock

Treasury stock is stated at cost, which is determined by the first-in, first-out method.

Comprehensive Income

Comprehensive income includes all changes in stockholders’ equity during a period, except those resulting from transactions with stockholders. In addition to net income, comprehensive income includes the net effect of changes in the fair value of AFS debt securities, net of tax, and the net effect of changes in fair value of derivative instruments designated as cash flow hedges. Gains and losses on AFS debt securities are reclassified to net income as the gains or losses are realized upon sale of the securities. For securities transferred from AFS to the HTM classification, the remaining pre-tax gains and losses will be amortized over the remaining life of the securities, as an adjustment of yield on the transferred securities. For cash flow hedges, gains and losses on the derivative(s) are recorded in accumulated other comprehensive income and subsequently reclassified into interest income in the same period that the hedged transaction affects earnings. Comprehensive income is reported in the accompanying consolidated statements of comprehensive income.

Earnings Per Share ("EPS")

EPS are based upon the weighted-average number of shares outstanding.

New Accounting Pronouncement

NEW ACCOUNTING PRONOUNCEMENTS

ASU 2023-06, “Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. ASU 2023-06 is not expected to have a significant impact on our financial statements.

ASU 2023-07, “Segment Reporting - Improvement to Reportable Segment Disclosures” amends the disclosure requirements related to segment reporting primarily through enhanced disclosure about significant segment expenses and by requiring disclosure of segment information on an annual and interim basis. ASU 2023-07 is effective January 1, 2024 and is not expected to have a significant impact on our financial statements.

ASU 2023-09, “Income Taxes - Improvements to Income Tax Disclosures” enhances the transparency and decision usefulness of income tax disclosures. ASU 2023-09 will require disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. Entities will also be required to disclose income/(loss) from continuing operations before income tax expense/(benefit) disaggregated between domestic and foreign, as well as income tax expense/(benefit) from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 is effective January 1, 2025 and is not expected to have a significant impact on our financial statements.

OFF-BALANCE SHEET LOAN COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of the Approximate Amounts of Financial Instruments with Off-balance Sheet Risk

The following table sets forth the approximate amounts of these financial instruments as of December 31, 2023 and 2022:


	December 31,
	2023		2022
Commitments to extend credit	$	3,083,501	$	4,511,671
MW commitments	803,704		1,088,558
Standby and commercial letters of credit	111,590		98,179
	$	3,998,795	$	5,698,408

Schedule of Allowance For Unfunded Commitments

The table below presents the activity in the allowance for unfunded commitment credit losses related to those financial instruments discussed above. This allowance is recorded in accounts payable and other liabilities on the Consolidated Balance Sheets:


	December 31,
	2023		2022
Beginning balance for ACL on unfunded commitments	$	10,086	$	9,266

(Benefit) provision for credit losses on unfunded commitments	(2,041)		820
Ending balance of ACL on unfunded commitments	$	8,045	$	10,086

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	APIC	Retained Earnings	AOCI
Beginning balance (in shares) at Dec. 31, 2020		49,337,768
Beginning balance at Dec. 31, 2020	$ 1,203,376	$ 555	$ (152,073)	$ 1,126,437	$ 172,232	$ 56,225
Beginning balance (in shares) at Dec. 31, 2020			6,162,350
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		118,454
RSUs vested, net of shares withheld to cover taxes	(577)	$ 2		(579)
Exercise of employee stock options, net (in shares)		376,851
Exercise of employee stock options, net	6,165	$ 3		6,162
Stock warrants exercised (in shares)		15,000
Stock warrants exercised	165			165
Number of shares repurchased (in shares)		(475,744)	475,744
Stock buyback	(15,509)		$ (15,509)
Stock based compensation	10,573			10,573
Net income	139,584				139,584
Dividends paid	(36,543)				(36,543)
Other comprehensive income (loss)	7,845					7,845
Ending balance (in shares) at Dec. 31, 2021		49,372,329
Ending balance at Dec. 31, 2021	1,315,079	$ 560	$ (167,582)	1,142,758	275,273	64,070
Ending balance (in shares) at Dec. 31, 2021			6,638,094
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		259,733
RSUs vested, net of shares withheld to cover taxes	(3,363)	$ 3		(3,366)
Exercise of employee stock options, net (in shares)		83,419
Exercise of employee stock options, net	1,160	$ 1		1,159
Common stock follow on offering (in shares)		4,314,474
Common stock follow on offering	154,415	$ 43		154,372
Stock based compensation	11,929			11,929
Net income	146,315				146,315
Dividends paid	(42,289)				(42,289)
Other comprehensive income (loss)	(133,473)					(133,473)
Ending balance (in shares) at Dec. 31, 2022		54,029,955
Ending balance at Dec. 31, 2022	$ 1,449,773	$ 607	$ (167,582)	1,306,852	379,299	(69,403)
Ending balance (in shares) at Dec. 31, 2022	6,638,094		6,638,094
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		246,604
RSUs vested, net of shares withheld to cover taxes	$ (2,307)	$ 3		(2,310)
Exercise of employee stock options, net (in shares)		61,809
Exercise of employee stock options, net	924	$ 0		924
Stock based compensation	12,050			12,050
Net income	108,261				108,261
Dividends paid	(43,318)				(43,318)
Other comprehensive income (loss)	5,940					5,940
Ending balance (in shares) at Dec. 31, 2023		54,338,368
Ending balance at Dec. 31, 2023	$ 1,531,323	$ 610	$ (167,582)	$ 1,317,516	$ 444,242	$ (63,463)
Ending balance (in shares) at Dec. 31, 2023	6,638,094		6,638,094

SUBORDINATED DEBENTURES AND SUBORDINATED NOTES (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Junior Subordinated Debentures and Subordinated Notes

Borrowed funds in the accompanying consolidated balance sheets are as follows:


	December 31,
	2023		2022
Junior subordinated debentures (1)	$	30,908	$	30,686
Subordinated notes (2)	198,875		198,089
	$	229,783	$	228,775

(1) Junior subordinated debentures are net of a discount of $2,960 and $3,182 as of December 31, 2023 and 2022, respectively.

(2) Subordinated notes include debt issuance costs of $1,125 and $1,911 as of December 31, 2023 and 2022, respectively.

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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OFF-BALANCE SHEET LOAN COMMITMENTS

12 Months Ended

Dec. 31, 2023

OFF-BALANCE SHEET LOAN COMMITMENTS

The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, MW commitments and standby and commercial letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets.

The Company’s exposure to credit loss in the event of nonperformance by the other party to a financial instrument for commitments to extend credit, MW commitments and standby and commercial letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments.

The following table sets forth the approximate amounts of these financial instruments as of December 31, 2023 and 2022:


	December 31,
	2023		2022
Commitments to extend credit	$	3,083,501	$	4,511,671
MW commitments	803,704		1,088,558
Standby and commercial letters of credit	111,590		98,179
	$	3,998,795	$	5,698,408

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Management evaluates each customer’s creditworthiness on a case-by-case basis and substantially all of the Company’s commitments to extend credit are contingent upon customers maintaining specific credit standards at the time of future loan funding. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the borrower.

MW commitments are unconditionally cancellable and represent the unused capacity on MW facilities the Company has approved. The Company reserves the right to refuse to buy any mortgage loans offered for sale by a customer, for any reason, at the Company’s sole and absolute discretion.

Standby and commercial letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Standby and commercial letters of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company’s policy for obtaining collateral and the nature of such collateral is essentially the same as that involved in making commitments to extend credit.


	December 31,
	2023		2022
Beginning balance for ACL on unfunded commitments	$	10,086	$	9,266

(Benefit) provision for credit losses on unfunded commitments	(2,041)		820
Ending balance of ACL on unfunded commitments	$	8,045	$	10,086

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted stock units
Shares withheld to cover tax withholdings (in shares)	92,134	83,447	23,613
Employee Stock Option
Shares withheld to cover tax withholdings (in shares)	121	6,904	13,015
Shares withheld to cover exercise price (in shares)	9,729	28,064	71,089

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Held-to-maturity debt securities, fair value	$ 160,021	$ 158,781
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	60,976,462	60,668,049
Treasury stock (in shares)	6,638,094	6,638,094

LHI AND ACL - Credit Quality Indicators (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total consumer loans held for investment
Year one	$ 701,008	$ 1,993,914
Year two	2,326,877	1,792,050
Year three	1,747,195	1,017,699
Year four	816,093	431,810
Year five	359,111	479,768
Prior	1,149,311	935,168
Revolving Loans Amortized Cost Basis	2,474,545	2,849,209
Revolving Loans Converted to Term	18,985	2,006
Total	9,593,125	9,501,624
Total gross charge-offs
2023	0
2022	2,187
2021	2
2020	2,941
2019	1,301
Prior	18,935
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	25,366	16,072	$ 26,390
Deferred loan fees, net	(8,785)	(18,973)
Pass
Total consumer loans held for investment
Year one	685,978	1,976,020
Year two	2,256,151	1,766,159
Year three	1,691,168	985,767
Year four	780,120	398,380
Year five	281,293	391,505
Prior	888,687	786,325
Revolving Loans Amortized Cost Basis	2,446,493	2,677,207
Revolving Loans Converted to Term	18,876	1,884
Total	9,048,766	8,983,247
Special mention
Total consumer loans held for investment
Year one	14,390	0
Year two	33,846	21,649
Year three	46,238	26,743
Year four	31,174	25,971
Year five	70,577	19,659
Prior	101,508	55,504
Revolving Loans Amortized Cost Basis	12,279	142,141
Revolving Loans Converted to Term	35	45
Total	310,047	291,712
Substandard
Total consumer loans held for investment
Year one	640	17,894
Year two	36,880	4,242
Year three	9,789	5,189
Year four	4,799	7,459
Year five	7,241	55,634
Prior	122,811	67,296
Revolving Loans Amortized Cost Basis	15,773	29,861
Revolving Loans Converted to Term	74	77
Total	198,007	187,652
PCD
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	12,970
Prior	36,305	26,043
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	36,305	39,013
Commercial
Total consumer loans held for investment
Year one	320,163	490,978
Year two	415,270	137,120
Year three	103,529	95,732
Year four	39,640	92,734
Year five	47,302	58,642
Prior	74,707	39,699
Revolving Loans Amortized Cost Basis	1,750,299	2,026,813
Revolving Loans Converted to Term	1,153	630
Total	2,752,063	2,942,348
Total gross charge-offs
2023	0
2022	2,158
2021	0
2020	2,572
2019	1,083
Prior	4,600
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	10,413	9,731	15,576
Commercial \| Pass
Total consumer loans held for investment
Year one	314,939	473,084
Year two	384,713	132,396
Year three	86,757	90,543
Year four	38,554	83,996
Year five	43,535	40,030
Prior	45,812	31,269
Revolving Loans Amortized Cost Basis	1,725,663	1,906,074
Revolving Loans Converted to Term	1,044	553
Total	2,641,017	2,757,945
Commercial \| Special mention
Total consumer loans held for investment
Year one	4,584	0
Year two	13,583	666
Year three	12,794	0
Year four	541	4,543
Year five	0	7,385
Prior	10,144	270
Revolving Loans Amortized Cost Basis	9,392	114,447
Revolving Loans Converted to Term	35	0
Total	51,073	127,311
Commercial \| Substandard
Total consumer loans held for investment
Year one	640	17,894
Year two	16,974	4,058
Year three	3,978	5,189
Year four	545	4,195
Year five	3,767	10,954
Prior	15,843	4,732
Revolving Loans Amortized Cost Basis	15,244	6,292
Revolving Loans Converted to Term	74	77
Total	57,065	53,391
Commercial \| PCD
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	273
Prior	2,908	3,428
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	2,908	3,701
Mortgage warehouse
Total consumer loans held for investment
Year one	1,905	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	46
Prior	0	162
Revolving Loans Amortized Cost Basis	375,891	446,019
Revolving Loans Converted to Term	0	0
Total	377,796	446,227
Total gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	0
Mortgage warehouse \| Pass
Total consumer loans held for investment
Year one	1,905	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	375,891	444,393
Revolving Loans Converted to Term	0	0
Total	377,796	444,393
Mortgage warehouse \| Special mention
Total consumer loans held for investment
Year one		0
Year two		0
Year three		0
Year four		0
Year five		0
Prior		0
Revolving Loans Amortized Cost Basis		1,626
Revolving Loans Converted to Term		0
Total		1,626
Mortgage warehouse \| Substandard
Total consumer loans held for investment
Year one		0
Year two		0
Year three		0
Year four		0
Year five		46
Prior		162
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		208
Consumer
Total consumer loans held for investment
Year one	4,552	1,965
Year two	1,045	452
Year three	280	872
Year four	604	216
Year five	101	135
Prior	1,839	2,548
Revolving Loans Amortized Cost Basis	1,728	1,618
Revolving Loans Converted to Term	0	0
Total	10,149	7,806
Total gross charge-offs
2023	0
2022	29
2021	2
2020	0
2019	0
Prior	205
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	236	1,285	99
Consumer \| Pass
Total consumer loans held for investment
Year one	4,552	1,965
Year two	1,045	452
Year three	276	872
Year four	604	216
Year five	89	135
Prior	1,678	2,298
Revolving Loans Amortized Cost Basis	1,728	1,618
Revolving Loans Converted to Term	0	0
Total	9,972	7,556
Consumer \| Special mention
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	85	58
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	85	58
Consumer \| Substandard
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	4	0
Year four	0	0
Year five	12	0
Prior	63	169
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	79	169
Consumer \| PCD
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	13	23
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	13	23
Construction and Land \| Real Estate
Total consumer loans held for investment
Year one	116,926	347,855
Year two	760,573	727,870
Year three	543,926	380,789
Year four	112,702	69,241
Year five	3,089	30,673
Prior	12,421	15,569
Revolving Loans Amortized Cost Basis	184,617	215,263
Revolving Loans Converted to Term	0	140
Total	1,734,254	1,787,400
Total gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	0	0	0
Construction and Land \| Real Estate \| Pass
Total consumer loans held for investment
Year one	116,333	347,855
Year two	740,244	709,208
Year three	538,946	378,229
Year four	109,017	69,241
Year five	3,089	30,673
Prior	3,661	14,025
Revolving Loans Amortized Cost Basis	181,940	215,263
Revolving Loans Converted to Term	0	140
Total	1,693,230	1,764,634
Construction and Land \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	593	0
Year two	13,782	18,662
Year three	4,980	2,560
Year four	3,439	0
Year five	0	0
Prior	8,760	0
Revolving Loans Amortized Cost Basis	2,677	0
Revolving Loans Converted to Term	0	0
Total	34,231	21,222
Construction and Land \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0
Year two	6,547
Year three	0
Year four	246
Year five	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	6,793
Construction and Land \| Real Estate \| PCD
Total consumer loans held for investment
Year one		0
Year two		0
Year three		0
Year four		0
Year five		0
Prior		1,544
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		1,544
Farmland \| Real Estate
Total consumer loans held for investment
Year one	2,531	2,546
Year two	4,398	16,242
Year three	0	18,530
Year four	17,999	21
Year five	15	0
Prior	4,944	5,069
Revolving Loans Amortized Cost Basis	1,227	1,092
Revolving Loans Converted to Term	0	0
Total	31,114	43,500
Total gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	0	0	0
Farmland \| Real Estate \| Pass
Total consumer loans held for investment
Year one	2,531	2,546
Year two	4,398	16,242
Year three	0	18,530
Year four	17,999	21
Year five	15	0
Prior	4,944	5,069
Revolving Loans Amortized Cost Basis	1,227	1,092
Revolving Loans Converted to Term	0	0
Total	31,114	43,500
Residential Real Estate \| Single Family \| Real Estate
Total consumer loans held for investment
Year one	77,021	135,006
Year two	141,499	188,819
Year three	194,816	87,861
Year four	79,767	43,293
Year five	38,695	41,960
Prior	273,262	260,254
Revolving Loans Amortized Cost Basis	114,804	136,537
Revolving Loans Converted to Term	17,255	726
Total	937,119	894,456
Total gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	21
Prior	0
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	21	0	379
Residential Real Estate \| Single Family \| Real Estate \| Pass
Total consumer loans held for investment
Year one	73,289	135,006
Year two	140,824	188,635
Year three	193,914	87,861
Year four	79,767	43,293
Year five	38,589	41,960
Prior	270,193	257,768
Revolving Loans Amortized Cost Basis	114,275	86,900
Revolving Loans Converted to Term	17,255	726
Total	928,106	842,149
Residential Real Estate \| Single Family \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	3,732	0
Year two	531	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	238	278
Revolving Loans Amortized Cost Basis	0	26,068
Revolving Loans Converted to Term	0	0
Total	4,501	26,346
Residential Real Estate \| Single Family \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0	0
Year two	144	184
Year three	902	0
Year four	0	0
Year five	106
Prior	1,701	1,028
Revolving Loans Amortized Cost Basis	529	23,569
Revolving Loans Converted to Term	0	0
Total	3,382	24,781
Residential Real Estate \| Single Family \| Real Estate \| PCD
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	1,130	1,180
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	1,130	1,180
Residential Real Estate \| Multi-family residential \| Real Estate
Total consumer loans held for investment
Year one	9,441	72,044
Year two	82,040	80,793
Year three	257,714	110,426
Year four	196,575	10,356
Year five	8,054	46,566
Prior	41,366	2,494
Revolving Loans Amortized Cost Basis	10,627	0
Revolving Loans Converted to Term	0	0
Total	605,817	322,679
Total gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	192
Prior	0
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	192	0	0
Residential Real Estate \| Multi-family residential \| Real Estate \| Pass
Total consumer loans held for investment
Year one	9,441	72,044
Year two	82,040	80,793
Year three	257,714	110,426
Year four	196,575	8,402
Year five	8,054	32,822
Prior	14,570	2,494
Revolving Loans Amortized Cost Basis	10,627	0
Revolving Loans Converted to Term	0	0
Total	579,021	306,981
Residential Real Estate \| Multi-family residential \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior	11,701
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	11,701
Residential Real Estate \| Multi-family residential \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	1,954
Year five	0	13,744
Prior	15,095	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	15,095	15,698
Commercial Real Estate \| OOCRE \| Real Estate
Total consumer loans held for investment
Year one	134,944	191,044
Year two	188,134	109,019
Year three	117,817	85,639
Year four	94,882	45,929
Year five	42,573	72,692
Prior	210,910	206,236
Revolving Loans Amortized Cost Basis	4,828	5,225
Revolving Loans Converted to Term	0	45
Total	794,088	715,829
Total gross charge-offs
2023	0
2022	0
2021	0
2020	369
2019	5
Prior	481
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	855	2,646	2,400
Commercial Real Estate \| OOCRE \| Real Estate \| Pass
Total consumer loans held for investment
Year one	129,463	191,044
Year two	178,777	106,698
Year three	113,207	84,230
Year four	90,219	43,965
Year five	39,876	49,461
Prior	166,270	167,968
Revolving Loans Amortized Cost Basis	4,618	5,225
Revolving Loans Converted to Term	0	0
Total	722,430	648,591
Commercial Real Estate \| OOCRE \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	5,481	0
Year two	0	2,321
Year three	2,479	1,409
Year four	1,019	1,964
Year five	1,961	0
Prior	14,775	3,447
Revolving Loans Amortized Cost Basis	210	0
Revolving Loans Converted to Term	0	45
Total	25,925	9,186
Commercial Real Estate \| OOCRE \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0	0
Year two	9,357	0
Year three	2,131	0
Year four	3,644	0
Year five	736	23,231
Prior	11,695	15,004
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	27,563	38,235
Commercial Real Estate \| OOCRE \| Real Estate \| PCD
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	18,170	19,817
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	18,170	19,817
Commercial Real Estate \| NOOCRE \| Real Estate
Total consumer loans held for investment
Year one	33,525	752,476
Year two	733,918	531,735
Year three	529,113	237,850
Year four	273,924	170,020
Year five	219,282	229,054
Prior	529,862	403,137
Revolving Loans Amortized Cost Basis	30,524	16,642
Revolving Loans Converted to Term	577	465
Total	2,350,725	2,341,379
Total gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	13,649
Revolving Loans Amortized Cost Basis, Write Off	0
Revolving Loans Converted to Term, Write Off	0
Total	13,649	2,410	$ 7,936
Commercial Real Estate \| NOOCRE \| Real Estate \| Pass
Total consumer loans held for investment
Year one	33,525	752,476
Year two	724,110	531,735
Year three	500,354	215,076
Year four	247,385	149,246
Year five	148,046	196,424
Prior	381,559	305,434
Revolving Loans Amortized Cost Basis	30,524	16,642
Revolving Loans Converted to Term	577	465
Total	2,066,080	2,167,498
Commercial Real Estate \| NOOCRE \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	0	0
Year two	5,950	0
Year three	25,985	22,774
Year four	26,175	19,464
Year five	68,616	12,274
Prior	55,805	51,451
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	182,531	105,963
Commercial Real Estate \| NOOCRE \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0	0
Year two	3,858	0
Year three	2,774	0
Year four	364	1,310
Year five	2,620	7,659
Prior	78,414	46,201
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	88,030	55,170
Commercial Real Estate \| NOOCRE \| Real Estate \| PCD
Total consumer loans held for investment
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	12,697
Prior	14,084	51
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	$ 14,084	$ 12,748

DERIVATIVE FINANCIAL INSTRUMENTS - Balance Sheet Information (Details) - USD ($)	Dec. 31, 2023	Nov. 30, 2023	Oct. 31, 2023	Feb. 28, 2023	Dec. 31, 2022	Oct. 31, 2022	Aug. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Notional Amount	$ 3,833,144,000				$ 2,922,362,000
Asset Derivative
Gross derivatives	20,820,000				36,878,000
Offsetting derivative assets	(29,463,000)				(30,982,000)
Liability Derivative
Gross derivatives	48,612,000				63,997,000
Offsetting derivative liabilities	(29,463,000)				(30,982,000)
Derivatives designated as hedging instruments
Derivative [Line Items]
Notional Amount	1,475,000,000				1,175,000,000
Asset Derivative
Gross derivatives	18,814,000				26,523,000
Liability Derivative
Gross derivatives	47,121,000				54,171,000
Derivatives designated as hedging instruments \| Interest rate swaps
Derivative [Line Items]
Notional Amount	250,000,000	$ 100,000	$ 100,000		250,000,000			$ 125,000
Asset Derivative
Gross derivatives	12,208,000				21,234,000
Liability Derivative
Gross derivatives	0				0
Derivatives designated as hedging instruments \| Interest rate swaps on fixed rate advances/brokered CDs
Derivative [Line Items]
Notional Amount	200,000,000				0
Asset Derivative
Gross derivatives	0				0
Liability Derivative
Gross derivatives	4,296,000				0
Derivatives designated as hedging instruments \| Interest rate swaps on customer loan interest payments
Derivative [Line Items]
Notional Amount	375,000,000				375,000,000
Asset Derivative
Gross derivatives	0				0
Liability Derivative
Gross derivatives	40,055,000				49,211,000
Derivatives designated as hedging instruments \| Interest rate collars on customer loan interest payments
Derivative [Line Items]
Notional Amount	450,000,000				450,000,000	$ 100,000	$ 350,000
Asset Derivative
Gross derivatives	2,304,000				3,267,000
Liability Derivative
Gross derivatives	2,770,000				4,960,000
Derivatives designated as hedging instruments \| Interest rate floor on customer loan interest payments
Derivative [Line Items]
Notional Amount	200,000,000			$ 100,000	100,000,000	$ 100,000
Asset Derivative
Gross derivatives	4,302,000				2,022,000
Liability Derivative
Gross derivatives	0				0
Derivatives not designated as hedging instruments
Derivative [Line Items]
Notional Amount	2,358,144,000				1,747,362,000
Asset Derivative
Gross derivatives	31,469,000				41,337,000
Liability Derivative
Gross derivatives	30,954,000				40,808,000
Derivatives not designated as hedging instruments \| Interest rate swaps \| Financial institution counterparty
Derivative [Line Items]
Notional Amount	893,702,000				805,311,000
Asset Derivative
Gross derivatives	28,007,000				38,839,000
Liability Derivative
Gross derivatives	2,322,000				1,126,000
Derivatives not designated as hedging instruments \| Interest rate swaps \| Commercial customer counterparty
Derivative [Line Items]
Notional Amount	893,702,000				805,311,000
Asset Derivative
Gross derivatives	2,118,000				1,004,000
Liability Derivative
Gross derivatives	27,288,000				38,188,000
Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Financial institution counterparty
Derivative [Line Items]
Notional Amount	285,370,000				68,370,000
Asset Derivative
Gross derivatives	1,344,000				1,494,000
Liability Derivative
Gross derivatives	0				0
Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Commercial customer counterparty
Derivative [Line Items]
Notional Amount	285,370,000				68,370,000
Asset Derivative
Gross derivatives	0				0
Liability Derivative
Gross derivatives	$ 1,344,000				$ 1,494,000

EMPLOYEE BENEFITS	12 Months Ended
EMPLOYEE BENEFITS	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFITS	EMPLOYEE BENEFITS Defined Contribution Plan The Company maintains a retirement savings 401(k) profit sharing plan (the “Plan”) in which substantially all employees may participate. The Plan allows employees to make discretionary “before tax” contributions through salary reductions under section 401(k) of the Internal Revenue Code. The Company may make a discretionary match of employees’ contributions based on a percentage of salary deferrals and certain discretionary profit sharing contributions. For the year ended December 31, 2023 and 2022, the company made matching contributions of $4,905 and $4,661, respectively.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES:
Net income	$ 108,261	$ 146,315	$ 139,584
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets and intangibles	19,485	18,668	15,731
Net accretion of time deposit premium, debt discount and debt issuance costs	(134)	977	(713)
Provision (benefit) for credit losses and unfunded commitments	40,471	27,770	(4,830)
Accretion of loan discounts	(3,882)	(5,047)	(7,193)
Stock-based compensation expense	12,050	11,929	10,573
Deferred tax (benefit) expense	(2,649)	(5,662)	4,647
Excess tax expense (benefit) from stock compensation	340	(1,056)	(838)
Net amortization of premiums on debt securities	2,135	4,708	2,885
Unrealized (gain) loss on equity securities recognized in earnings	(105)	1,246	325
Change in cash surrender value and mortality rates of BOLI	(337)	(1,302)	(339)
Net loss on sales of debt securities	5,321	0	188
Change in fair value of government guaranteed loans using fair value option	(4,417)	(1,072)	(1,845)
Gain on sales of mortgage LHFS	(77)	(550)	(1,592)
Gain on sales of government guaranteed loans	(15,565)	(12,988)	(6,194)
Originations of LHFS	(92,375)	(52,991)	(119,989)
Proceeds from sales of LHFS	53,410	61,130	112,606
Servicing asset (recoveries) impairment, net	(919)	1,823	71
Loss on sales of OREO	0	0	416
Equity method investment loss (income)	1,172	5,141	(5,760)
Impairment on equity method investment	29,417	0	0
Termination of derivatives designated as hedging instruments	0	0	43,900
(Increase) decrease in other assets	44,484	55,770	(11,139)
Increase in accounts payable and other liabilities	36,969	49,457	719
Net cash provided by operating activities	144,087	192,726	193,491
INVESTING ACTIVITIES:
Net cash paid for acquisitions	0	0	(55,522)
Purchases of AFS debt securities	(1,377,537)	(452,599)	(201,385)
Proceeds from sales of AFS debt securities	109,793	0	13,300
Proceeds from maturities, calls and pay downs of AFS debt securities	1,295,897	103,683	193,227
Purchases of HTM debt securities	0	(17,460)	(32,286)
Maturity, calls and paydowns on HTM debt securities	4,004	4,487	3,370
Purchases of equity method securities	0	0	(54,970)
Purchases of other investments	(46,317)	35,393	1,436
Sales (purchases) of securities under agreements to resell	0	102,288	(102,288)
Net loans originated	215,899	2,193,503	626,512
Proceeds from sale of government guaranteed loans	91,776	93,739	44,912
Net additions to premises and equipment	(1,854)	(4,620)	(13,575)
Proceeds from sales of premises and equipment	0	0	14,551
Proceeds from sales of OREO and repossessed assets	0	0	2,225
Net cash used in investing activities	(47,503)	(2,399,378)	(816,389)
FINANCING ACTIVITIES:
Net increase in deposits	1,216,103	1,759,653	851,468
Proceeds from FHLB advances	48,817,233	35,049,938	0
Repayments of FHLB advances	(49,892,233)	(34,652,500)	(156)
Redemption of subordinated debt	0	0	(35,000)
Net change in securities sold under agreement to repurchase	0	(4,069)	1,844
Net proceeds on sale of common stock in public offering	0	154,415	0
Proceeds from exercise of employee stock options	924	1,160	6,313
Payments to tax authorities for stock-based compensation	(2,307)	(3,363)	(725)
Proceeds from exercise of stock warrants	0	0	165
Purchase of treasury stock	0	0	(15,509)
Dividends paid	(43,318)	(42,289)	(36,543)
Net cash provided by financing activities	96,402	2,262,945	771,857
Net increase in cash and cash equivalents	192,986	56,293	148,959
Cash and cash equivalents at beginning of year	436,077	379,784	230,825
Cash and cash equivalents at end of year	$ 629,063	$ 436,077	$ 379,784

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income tax, penalties and interest expense	$ 103	$ 22	$ 126

LHI AND ACL

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

LHI AND ACL

LHI in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
LHI, carried at amortized cost:
Real estate:
Construction and land	$	1,734,254	$	1,787,400
Farmland	31,114		43,500
1 - 4 family residential	937,119		894,456
Multi-family residential	605,817		322,679
OOCRE	794,088		715,829
NOOCRE	2,350,725		2,341,379
Commercial	2,752,063		2,942,348
MW	377,796		446,227
Consumer	10,149		7,806
	9,593,125		9,501,624

Deferred loan fees, net	(8,785)		(18,973)
ACL	(109,816)		(91,052)
Total LHI, net	$	9,474,524	$	9,391,599

Included in the total LHI, net, as of December 31, 2023 and 2022 was an accretable discount related to purchased performing and PCD loans acquired in the approximate amounts of $5,334 and $8,260, respectively. The discount is being accreted into income on a level-yield basis over the life of the loans. In addition, included in total LHI, net, as of December 31, 2023 and 2022 is a discount on retained loans from sale of originated SBA and USDA loans of $7,629 and $5,238, respectively. During the year ended December 31, 2022, the Company purchased $223,924 in pooled residential real estate loans at a net discount, with a remaining balance of $162,632 as of December 31, 2023. The remaining net purchase discount of $3,231 and $4,135 related to these 1-4 family residential loans purchased is included in the total LHI, net as of December 31, 2023 and December 31, 2022, respectively. No additional pooled residential real estate loans were purchased during the twelve months ended December 31, 2023.

ACL


	December 31, 2023
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of year	$	13,120	$	127	$	9,533	$	2,607	$	8,707	$	26,704	$	30,142	$	—	$	112	$	91,052
Credit loss (benefit) expense non-PCD loans	7,958		(26)		26		2,467		2,352		13,706		15,458		260		159		42,360
Credit (benefit) loss expense PCD loans	(46)		—		(2)		—		48		618		(466)		—		—		152
Charge-offs	—		—		(21)		(192)		(855)		(13,649)		(10,413)		—		(236)		(25,366)
Recoveries	—		—		3		—		—		350		1,165		—		100		1,618
Ending Balance	$	21,032	$	101	$	9,539	$	4,882	$	10,252	$	27,729	$	35,886	$	260	$	135	$	109,816


	December 31, 2022
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of year	$	7,293	$	187	$	5,982	$	2,664	$	9,215	$	30,548	$	21,632	$	—	$	233	$	77,754
Credit loss (benefit) expense non-PCD loans	5,855		(60)		3,757		(57)		4,633		(2,588)		18,933		—		2,355		32,828
Credit loss (expense) benefit PCD loans	(28)		—		(237)		—		(2,766)		429		(2,000)		—		(1,276)		(5,878)
Charge-offs	—		—		—		—		(2,646)		(2,410)		(9,731)		—		(1,285)		(16,072)
Recoveries	—		—		31		—		271		725		1,308		—		85		2,420
Ending Balance	$	13,120	$	127	$	9,533	$	2,607	$	8,707	$	26,704	$	30,142	$	—	$	112	$	91,052


	December 31, 2021
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of year	$	7,768	$	56	$	8,148	$	6,231	$	9,719	$	35,237	$	37,554	$	—	$	371	$	105,084
Credit loss (benefit) expense non-PCD loans	(547)		131		(2,153)		(3,567)		(2,325)		(7,490)		(9,510)		—		(401)		(25,862)
Credit loss expense PCD loans	72		—		302		—		3,721		10,737		7,622		—		59		22,513
Charge-offs	—		—		(379)		—		(2,400)		(7,936)		(15,576)		—		(99)		(26,390)
Recoveries	—		—		64		—		500		—		1,542		—		303		2,409
Ending Balance	$	7,293	$	187	$	5,982	$	2,664	$	9,215	$	30,548	$	21,632	$	—	$	233	$	77,754

The majority of the Company's loan portfolio consists of loans to businesses and individuals in the Dallas-Fort Worth metroplex and the Houston metropolitan area. This geographic concentration subjects the loan portfolio to the general economic conditions within these areas. The risks created by this concentration have been considered by management in the determination of the adequacy of the ACL. Management believes the ACL was adequate to cover estimated losses on loans as of December 31, 2023 and 2022.

A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of December 31, 2023 and 2022 :


	December 31, 2023					December 31, 2022
		Real Property		ACL Allocation			Real Property		ACL Allocation





OOCRE		$	3,059	$	47		$	1,193	$	129
NOOCRE		21,169		—			20,896		2,138
Commercial		20,711		3,339			1,240		396

Consumer		—		—			15		—
Total		$	44,939	$	3,386		$	23,344	$	2,663

Nonaccrual loans, aggregated by class of loans, as of December 31, 2023 and 2022, were as follows:


	December 31, 2023				December 31, 2022
	Nonaccrual		Nonaccrual With No ACL			Nonaccrual		Nonaccrual With No ACL
Construction and land	$	6,793	$	6,793		$	—	$	—

1 - 4 family residential	1,965		1,965			862		862

OOCRE	9,719		9,493			9,737		8,545
NOOCRE	33,479		33,479			21,377		13,178
Commercial	40,868		10,610			11,397		2,521

Consumer	24		24			169		169
Total	$	92,848	$	62,364		$	43,542	$	25,275

There was $13,715 and $13,178 of PCD loans that are accounted for on a pooled basis included in nonaccrual loans at December 31, 2023 and 2022, respectively.

During the year ended December 31, 2023 and 2022, interest income not recognized on non-accrual loans was $6,470 and $6,567, respectively.

An age analysis of past due loans, aggregated by class of loans, as of December 31, 2023 and 2022 is as follows:


	December 31, 2023
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due(1)		Total Current		PCD		Total Loans		Total 90 Days Past Due and Still Accruing(2)
Construction and land	$	29,379	$	—	$	6,793	$	36,172	$	1,698,082	$	—	$	1,734,254	$	—
Farmland	—		—		—		—		31,114		—		31,114		—
1 - 4 family residential	4,359		2,535		3,691		10,585		925,404		1,130		937,119		1,726
Multi-family residential	15,095		—		—		15,095		590,722		—		605,817		—
OOCRE	916		114		10,185		11,215		764,703		18,170		794,088		466
NOOCRE	3,182		642		20,547		24,371		2,312,270		14,084		2,350,725		783
Commercial	3,485		1,394		8,446		13,325		2,735,830		2,908		2,752,063		—
MW	—		—		—		—		377,796		—		377,796		—
Consumer	76		—		—		76		10,060		13		10,149		—
	$	56,492	$	4,685	$	49,662	$	110,839	$	9,445,981	$	36,305	$	9,593,125	$	2,975

(1) Total past due loans includes $13,715 of pooled PCD loans as of December 31, 2023.

(2) Loans 90 days past due and still accruing excludes $676 of PCD loans of as of December 31, 2023.


	December 31, 2022
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due (1)		Total Current		PCD		Total Loans		Total 90 Days Past Due and Still Accruing (2)
Construction and land	$	1,121	$	2,111	$	—	$	3,232	$	1,782,624	$	1,544	$	1,787,400	$	—
Farmland	—		—		—		—		43,500		—		43,500		—
1 - 4 family residential	4,319		129		499		4,947		888,329		1,180		894,456		123
Multi-family residential	1,000		—		—		1,000		321,679		—		322,679		—
OOCRE	3,342		1,186		1,193		5,721		690,291		19,817		715,829		—
NOOCRE	5,156		—		20,896		26,052		2,302,579		12,748		2,341,379		—
Commercial	3,088		2,188		1,675		6,951		2,931,696		3,701		2,942,348		—
MW	—		—		—		—		446,227		—		446,227		—
Consumer	352		—		45		397		7,386		23		7,806		2
	$	18,378	$	5,614	$	24,308	$	48,300	$	9,414,311	$	39,013	$	9,501,624	$	125

(1)Total past due loans includes $13,178 of pooled PCD loans as of December 31, 2022.

(2) Loans 90 days past due and still accruing excludes $2,004 of pooled PCD loans as of December 31, 2022.

Loans 90 days past due and still accruing interest are considered well-secured and in the process of collection as of the reporting date with plans in place for the borrowers to bring the loans fully current. The Company believes that it will collect all principal and interest due on each of the loans 90 days past due and still accruing.

Modifications to Borrowers Experiencing Financial Difficulty

Loan Modifications Made to Borrowers Experiencing Financial Difficulty

Interest Rate Reduction

Amortized Cost Basis

% of Loan Class

Financial Impact

1-4 Family Residential Rentals1

41,066

4.4

Reduced weighted-average contractual interest rate from floating 7.5% to fixed 6.0%

1 1-4 Family Residential Rentals is included in the 1-4 family residential loan portfolio and is reported as such in accordance with Federal Financial Institutions Examination Council guidelines.


	Term Extension
	Amortized Cost Basis		% of Loan Class		Financial Impact
NOOCRE	$	23,624	1.0	%	Principal and interest deferred over three months
Commercial	24,733		0.9	%	Principal and interest deferred over three months
	$	48,357

No modifications to borrowers in financial difficulty had a payment default during the period and were modified in the 12 months before default to borrowers experiencing financial difficulty.

The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last 12 months:


Payment Status
	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due
1-4 Family Residential Rentals	$	41,066	$	—	$	—	$	—
NOOCRE	23,624		—		—		—
Commercial	23,346		—		—		1,387
Total	$	88,036	$	—	$	—	$	1,387

The Company has not committed to lend additional amounts to customers with outstanding loans classified as Troubled Loan Modifications as of December 31, 2023 or December 31, 2022.

Credit Quality Indicators

From a credit risk standpoint, the Company classifies its loans in one of the following categories: (i) pass, (ii) special mention, (iii) substandard or (iv) doubtful. Loans classified as loss are charged-off. Loans not rated special mention, substandard, doubtful or loss are classified as pass loans.

The classifications of loans reflect a judgment about the risks of default and loss associated with the loan. The Company reviews the ratings on criticized credits monthly. Ratings are adjusted to reflect the degree of risk and loss that is felt to be inherent in each credit as of each monthly reporting period. All classified credits are evaluated for impairment. If impairment is determined to exist, a specific reserve is established. The Company’s methodology is structured so that specific reserves are increased in accordance with deterioration in credit quality (and a corresponding increase in risk and loss) or decreased in accordance with improvement in credit quality (and a corresponding decrease in risk and loss).

Credits rated special mention show clear signs of financial weaknesses or deterioration in credit worthiness, however, such concerns are generally not so pronounced that the Company expects to experience significant loss within the short-term. Such credits typically maintain the ability to perform within standard credit terms and credit exposure is not as prominent as credits with a lower rating.

Credits rated substandard are those in which the normal repayment of principal and interest may be, or has been, jeopardized by reason of adverse trends or developments of a financial, managerial, economic or political nature, or important weaknesses which exist in collateral. A protracted workout on these credits is a distinct possibility. Prompt corrective action is therefore required to strengthen the Company’s position, and/or to reduce exposure and to assure that adequate remedial measures are taken by the borrower. Credit exposure becomes more likely in such credits and a serious evaluation of the secondary support to the credit is performed.

Credits rated doubtful are those in which full collection of principal appears highly questionable, and in which some degree of loss is anticipated, even though the ultimate amount of loss may not yet be certain and/or other factors exist which could affect collection of debt. Based upon available information, positive action by the Company is required to avert or minimize loss. Credits rated doubtful are generally also placed on nonaccrual.

Credits classified as PCD are those that, at acquisition date, have experienced a more-than-insignificant deterioration in credit quality since origination. All loans considered to be PCI loans prior to January 1, 2020 were converted to PCD loans upon adoption of ASC 326. The Company elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. Loans are only removed from the existing pools if they are foreclosed, written off, paid off, or sold.


	Term Loans Amortized Cost Basis by Origination Year1
	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31,
Construction and land:
Pass	$	116,333	$	740,244	$	538,946	$	109,017	$	3,089	$	3,661	$	181,940	$	—	$	1,693,230
Special mention	593		13,782		4,980		3,439		—		8,760		2,677		—		34,231
Substandard	—		6,547		—		246		—		—		—		—		6,793

Total construction and land	$	116,926	$	760,573	$	543,926	$	112,702	$	3,089	$	12,421	$	184,617	$	—	$	1,734,254
Construction and land gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Farmland:
Pass	$	2,531	$	4,398	$	—	$	17,999	$	15	$	4,944	$	1,227	$	—	$	31,114



Total farmland	$	2,531	$	4,398	$	—	$	17,999	$	15	$	4,944	$	1,227	$	—	$	31,114
Farmland gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

1 - 4 family residential:
Pass	$	73,289	$	140,824	$	193,914	$	79,767	$	38,589	$	270,193	$	114,275	$	17,255	$	928,106
Special mention	3,732		531		—		—		—		238		—		—		4,501
Substandard	—		144		902		—		106		1,701		529		—		3,382
PCD	—		—		—		—		—		1,130		—		—		1,130
Total 1-4 family residential	$	77,021	$	141,499	$	194,816	$	79,767	$	38,695	$	273,262	$	114,804	$	17,255	$	937,119
1-4 Family gross charge-offs	$	—	$	—	$	—	$	—	$	21	$	—	$	—	$	—	$	21

Multi-family residential:
Pass	$	9,441	$	82,040	$	257,714	$	196,575	$	8,054	$	14,570	$	10,627	$	—	$	579,021
Special mention	—		—		—		—		—		11,701		—		—		11,701
Substandard	—		—		—		—		—		15,095		—		—		15,095

Total multi-family residential	$	9,441	$	82,040	$	257,714	$	196,575	$	8,054	$	41,366	$	10,627	$	—	$	605,817


Multifamily gross charge-offs	$	—	$	—	$	—	$	—	$	192	$	—	$	—	$	—	$	192

OOCRE:
Pass	$	129,463	$	178,777	$	113,207	$	90,219	$	39,876	$	166,270	$	4,618	$	—	$	722,430
Special mention	5,481		—		2,479		1,019		1,961		14,775		210		—		25,925
Substandard	—		9,357		2,131		3,644		736		11,695		—		—		27,563
PCD	—		—		—		—		—		18,170		—		—		18,170
Total OOCRE	$	134,944	$	188,134	$	117,817	$	94,882	$	42,573	$	210,910	$	4,828	$	—	$	794,088
OOCRE gross charge-offs	$	—	$	—	$	—	$	369	$	5	$	481	$	—	$	—	$	855

NOOCRE:
Pass	$	33,525	$	724,110	$	500,354	$	247,385	$	148,046	$	381,559	$	30,524	$	577	$	2,066,080
Special mention	—		5,950		25,985		26,175		68,616		55,805		—		—		182,531
Substandard	—		3,858		2,774		364		2,620		78,414		—		—		88,030
PCD	—		—		—		—		—		14,084		—		—		14,084
Total NOOCRE	$	33,525	$	733,918	$	529,113	$	273,924	$	219,282	$	529,862	$	30,524	$	577	$	2,350,725
NOOCRE gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	13,649	$	—	$	—	$	13,649

Commercial:
Pass	$	314,939	$	384,713	$	86,757	$	38,554	$	43,535	$	45,812	$	1,725,663	$	1,044	$	2,641,017
Special mention	4,584		13,583		12,794		541		—		10,144		9,392		35		51,073
Substandard	640		16,974		3,978		545		3,767		15,843		15,244		74		57,065
PCD	—		—		—		—		—		2,908		—		—		2,908
Total commercial	$	320,163	$	415,270	$	103,529	$	39,640	$	47,302	$	74,707	$	1,750,299	$	1,153	$	2,752,063
Commercial gross charge-offs	$	—	$	2,158	$	—	$	2,572	$	1,083	$	4,600	$	—	$	—	$	10,413

MW:
Pass	$	1,905	$	—	$	—	$	—	$	—	$	—	$	375,891	$	—	$	377,796



Total MW	$	1,905	$	—	$	—	$	—	$	—	$	—	$	375,891	$	—	$	377,796
MW gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer:
Pass	$	4,552	$	1,045	$	276	$	604	$	89	$	1,678	$	1,728	$	—	$	9,972
Special mention	—		—		—		—		—		85		—		—		85
Substandard	—		—		4		—		12		63		—		—		79
PCD	—		—		—		—		—		13		—		—		13
Total consumer	$	4,552	$	1,045	$	280	$	604	$	101	$	1,839	$	1,728	$	—	$	10,149
Consumers gross charge-offs	$	—	$	29	$	2	$	—	$	—	$	205	$	—	$	—	$	236

Total Pass	$	685,978	$	2,256,151	$	1,691,168	$	780,120	$	281,293	$	888,687	$	2,446,493	$	18,876	$	9,048,766
Total Special Mention	14,390		33,846		46,238		31,174		70,577		101,508		12,279		35		310,047
Total Substandard	640		36,880		9,789		4,799		7,241		122,811		15,773		74		198,007
Total PCD	—		—		—		—		—		36,305		—		—		36,305
Total	$	701,008	$	2,326,877	$	1,747,195	$	816,093	$	359,111	$	1,149,311	$	2,474,545	$	18,985	$	9,593,125
Total gross charge-offs	$	—	$	2,187	$	2	$	2,941	$	1,301	$	18,935	$	—	$	—	$	25,366

Term loans amortized cost basis by origination year excludes $8,785 of deferred loan fees, net.


	Term Loans Amortized Cost Basis by Origination Year1
	2022			2021			2020			2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31,
Construction and land:
Pass	$	347,855		$	709,208		$	378,229		$	69,241	$	30,673	$	14,025	$	215,263	$	140	$	1,764,634
Special mention	—			18,662			2,560			—		—		—		—		—		21,222

PCD	—			—			—			—		—		1,544		—		—		1,544
Total construction and land	$	347,855		$	727,870		$	380,789		$	69,241	$	30,673	$	15,569	$	215,263	$	140	$	1,787,400

Farmland:
Pass	$	2,546		$	16,242		$	18,530		$	21	$	—	$	5,069	$	1,092	$	—	$	43,500



Total farmland	$	2,546		$	16,242		$	18,530		$	21	$	—	$	5,069	$	1,092	$	—	$	43,500

1 - 4 family residential:
Pass	$	135,006		$	188,635		$	87,861		$	43,293	$	41,960	$	257,768	$	86,900	$	726	$	842,149
Special mention	—			—			—			—		—		278		26,068		—		26,346
Substandard	—			184			—			—				1,028		23,569		—		24,781
PCD	—			—			—			—		—		1,180		—		—		1,180
Total 1 - 4 family residential	$	135,006		$	188,819		$	87,861		$	43,293	$	41,960	$	260,254	$	136,537	$	726	$	894,456

Multi-family residential:
Pass	$	72,044		$	80,793		$	110,426		$	8,402	$	32,822	$	2,494	$	—	$	—	$	306,981

Substandard	—			—			—			1,954		13,744		—		—		—		15,698

Total multi-family residential	$	72,044		$	80,793		$	110,426		$	10,356	$	46,566	$	2,494	$	—	$	—	$	322,679

OOCRE:
Pass	$	191,044		$	106,698		$	84,230		$	43,965	$	49,461	$	167,968	$	5,225	$	—	$	648,591
Special mention	—			2,321			1,409			1,964		—		3,447		—		45		9,186
Substandard	—			—			—			—		23,231		15,004		—		—		38,235
PCD	—			—			—			—		—		19,817		—		—		19,817
Total OOCRE	$	191,044		$	109,019		$	85,639		$	45,929	$	72,692	$	206,236	$	5,225	$	45	$	715,829

NOOCRE:
Pass	$	752,476		$	531,735		$	215,076		$	149,246	$	196,424	$	305,434	$	16,642	$	465	$	2,167,498
Special mention	—			—			22,774			19,464		12,274		51,451		—		—		105,963
Substandard	—		0	—		0	—		0	1,310		7,659		46,201		—		—		55,170
PCD	—			—			—			—		12,697		51		—		—		12,748
Total NOOCRE	$	752,476		$	531,735		$	237,850		$	170,020	$	229,054	$	403,137	$	16,642	$	465	$	2,341,379

Commercial:
Pass	$	473,084		$	132,396		$	90,543		$	83,996	$	40,030	$	31,269	$	1,906,074	$	553	$	2,757,945
Special mention	—			666			—			4,543		7,385		270		114,447		—		127,311
Substandard	17,894			4,058			5,189			4,195		10,954		4,732		6,292		77		53,391
PCD	—			—			—			—		273		3,428		—		—		3,701
Total commercial	$	490,978		$	137,120		$	95,732		$	92,734	$	58,642	$	39,699	$	2,026,813	$	630	$	2,942,348

MW:
Pass	$	—		$	—		$	—		$	—	$	—	$	—	$	444,393	$	—	$	444,393
Special mention	—			—			—			—		—		—		1,626		—		1,626
Substandard	—			—			—			—		46		162		—		—		208

Total MW	$	—		$	—		$	—		$	—	$	46	$	162	$	446,019	$	—	$	446,227


Consumer:
Pass	$	1,965	$	452	$	872	$	216	$	135	$	2,298	$	1,618	$	—	$	7,556
Special mention	—		—		—		—		—		58		—		—		58
Substandard	—		—		—		—		—		169		—		—		169
PCD	—		—		—		—		—		23		—		—		23
Total consumer	$	1,965	$	452	$	872	$	216	$	135	$	2,548	$	1,618	$	—	$	7,806

Total Pass	$	1,976,020	$	1,766,159	$	985,767	$	398,380	$	391,505	$	786,325	$	2,677,207	$	1,884	$	8,983,247
Total Special Mention	—		21,649		26,743		25,971		19,659		55,504		142,141		45		291,712
Total Substandard	17,894		4,242		5,189		7,459		55,634		67,296		29,861		77		187,652
Total PCD	—		—		—		—		12,970		26,043		—		—		39,013
Total	$	1,993,914	$	1,792,050	$	1,017,699	$	431,810	$	479,768	$	935,168	$	2,849,209	$	2,006	$	9,501,624

1 Term loans amortized cost basis by origination year excludes $18,973 of deferred loan fees, net.

Servicing Assets

The Company was servicing loans of approximately $579,698 and $543,220 as of December 31, 2023 and 2022, respectively. A summary of the changes in the related servicing assets are as follows:


	Year Ended December 31,
	2023		2022
Balance at beginning of year	$	14,880	$	17,705

Increase from loan sales	2,170		2,670
Servicing asset impairment, net of recoveries	919		(1,823)
Amortization charged as a reduction to income	(4,711)		(3,672)

Balance at year-end	$	13,258	$	14,880

Fair value of servicing assets is estimated by discounting estimated future cash flows from the servicing assets using discount rates that approximate current market rates over the expected lives of the loans being serviced. A valuation allowance is recorded when the fair value is below the carrying amount of the asset. As of December 31, 2023 and 2022 there was a valuation allowance of $1,532 and $2,451, respectively.

The Company may also receive a portion of subsequent interest collections on loans sold that exceed the contractual servicing fees. In that case, the Company records an interest-only strip based on its relative fair market value and the other components of the loans. There was no interest-only strip receivable recorded at December 31, 2023 and 2022.


	Year Ended December 31,
	2023		2022		2021
SBA LHFI principal sold	$	16,608	$	9,491	$	40,001
Gain on sale of SBA LHFI	1,291		848		4,911
USDA LHFI principal sold	64,080		72,670		—
Gain on sale of USDA LHFI	9,797		10,731		—

LHFS

The following table reflects LHFS.


	December 31, 2023		December 31, 2022
SBA/USDA construction and land	$	41,492	$	12,296
1 - 4 family residential	788		866
SBA/USDA OOCRE	16,758		5,915

NOOCRE	10,500		—
SBA/USDA commercial	9,534		1,564
Total LHFS	$	79,072	$	20,641

ADVANCES FROM FHLB - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Advance from Federal Home Loan Bank [Abstract]
2024	$ 100,000
Advances from FHLB	$ 100,000	$ 1,175,000

STOCK AND INCENTIVE PLANS

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK AND INCENTIVE PLANS

2010 Stock Option and Equity Incentive Plan

In 2010, the Company adopted the 2010 Stock Option and Equity Incentive Plan (the “2010 Incentive Plan”), which the Company’s shareholders approved in 2011. The maximum number of shares of common stock that may be issued pursuant to grants or options under the 2010 Incentive Plan is 1,000,000. The 2010 Incentive Plan is administered by the Board and provides for both the direct award of stock and the grant of stock options to eligible directors, officers, employees and outside consultants of the Company or its affiliates as defined in the 2010 Incentive Plan. The Company may grant either incentive stock options or nonqualified stock options as directed in the 2010 Incentive Plan.

The Board authorized grants of equity awards under the 2010 Incentive Plan consisting of 100,000 shares of direct stock awards (restricted shares) and 900,000 shares of stock options, of which 500,000 shares are or were performance-based stock options. Options were generally granted with an exercise price equal to the market price of the Company’s stock as of the date of the grant. In general, the terms of awards varied depending on whether a participant was a shareholder owning more than 10% of the total combined voting power of all classes of Company stock (a “controlling participant”). Options granted to non-controlling participants generally vested after 5 years of continuous service, with 10-year contractual terms, and forfeiture of unexercised options upon termination of employment with the Company. Other grant terms varied for controlling participants. Restricted share awards generally vested after 4 years of continuous service. The terms of the 2010 Incentive Plan provide that all unearned non-performance options and restricted shares become immediately exercisable and fully vested upon a change in control.

During the years ending December 31, 2023, 2022 and 2021, the Company did not award any restricted stock units, non-performance based stock options or performance-based stock options or other awards under the 2010 Incentive Plan.

Stock based compensation expense is measured based upon the fair market value of the award at the grant date and is recognized ratably over the period during which the shares are earned (the requisite service period). For the years ended December 31, 2023, 2022 and 2021, there was no stock compensation expense related to the 2010 Incentive Plan.

A summary of the status of options granted under the 2010 Incentive Plan at December 31, 2023, 2022 and 2021 and changes during the years then ended is presented below:


	2010 Incentive Plan
	Nonperformance-based stock options
	Shares Underlying Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2020	20,000	$	10.09	1.06 years



Exercised	(19,000)	10.00
Outstanding at December 31, 2021	1,000	$	10.43	1.07 years



Exercised	—	—
Outstanding at December 31, 2022	1,000	$	10.43	1.07 years



Exercised	(1,000)	10.43
Outstanding and exercisable at December 31, 2023	—	$	—	0.00 years	$	—

As of December 31, 2023, 2022, and 2021 there was no unrecognized stock compensation expense related to non-performance based stock options.

A summary of the fair value of the Company’s stock options exercised vested under the 2010 Incentive Plan as of December 31, 2023, 2022 and 2021 is presented below:


	Fair Value of Options Exercised or Restricted Stock Units Vested as of December 31,
	2023		2022		2021
Nonperformance-based stock options exercised	$	16	$	—	$	568

2022 Amended Plan and Green Acquired Omnibus Plans

At the Company’s 2022 annual meeting of shareholders, the Company sought approval from its shareholders to authorize the amendment and restatement of the 2019 Amended and Restated Omnibus Incentive Plan (now referred to as the “2022 Equity Plan”) to, among other things, increase the aggregate number of shares that are available for grant thereunder, (the “Shareholder Approval”). Other terms amended in the 2022 Equity Plan included adding a one-year minimum vesting requirement on equity awards and clarifying certain provisions with respect to (i) the Compensation Committee’s authority and responsibilities in the administration of the 2022 Equity Plan, (ii) prohibitions against (x) dividend payments and voting rights with respect to any unvested awards, (y) the repricing of stock options and SARs, and (z) transfers of awards, and (iii) the definitions of termination of service, disability, and retirement. The Compensation Committee of the Board approved the amendment and restatement of the 2022 Equity Plan in May 2022 and Shareholder Approval was received in May 2022.

2023 Grants of Restricted Stock Units

In the year ended December 31, 2023, the Company granted RSUs and PSUs under the 2022 Equity Plan. The majority of the RSUs granted to employees during the year ended December 31, 2023 with annual graded vesting over a three year period from the grant date.

The PSUs granted in February 2023 are subject to a service, performance and market conditions. The performance and market condition determine the number of awards to vest. The service period is from February 1, 2023 to January 31, 2026, the performance conditions performance period is from January 1, 2023 to December 31, 2025 and the market condition performance period is from February 1, 2023 to January 31, 2026. A Monte Carlo simulation was used to estimate the fair value of PSUs on the grant date.

Stock Compensation Expense

Stock compensation expense of options, RSUs and PSUs granted under the 2022 Equity Plan and the Veritex (Green) 2014 Omnibus Equity Incentive Plan (the “Veritex (Green) 2014 Plan”) was as follows:


	Year ended December 31,
	2023		2022
2022 Equity Plan	$	10,200	$	11,109
Veritex (Green) 2014 Plan	1,850		820

2022 Equity Plan

A summary of the status of the Company’s stock options under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021, and changes during the years then ended, is as follows:


	2022 Equity Plan
	Nonperformance-based stock options
	Equity Awards
	Shares Underlying Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2020	975,801	$	24.26
Granted	500	36.54
Forfeited	(13,996)	25.93

Exercised	(252,262)	23.87
Outstanding at December 31, 2021	710,043	$	24.38	6.91 years
Granted	1,500	$	31.26



Exercised	(54,049)	23.51
Outstanding at December 31, 2022	657,494	$	24.47	5.58 years


Forfeited	(1,666)	17.38
Canceled	(35,970)	28.95
Exercised	(17,285)	18.29
Outstanding at December 31, 2023	602,573	$	24.40	4.84 years	$	779,874
Options exercisable at December 31, 2023	591,573	$	24.45	4.84 years	$	760,974
Weighted average fair value of options granted during the period		$	—

As of December 31, 2023, 2022 and 2021 there was no, $172 and $803 of total unrecognized compensation expense related to stock options awarded under the 2022 Equity Plan, respectively.

A summary of the status of the Company’s RSUs under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021, and changes during the year then ended is as follows:


	2022 Equity Plan
	RSUs
	Equity Awards
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	441,132	$	20.39
Granted	281,149	28.68
Vested into shares	(108,732)	24.19
Forfeited	(15,498)	28.47

Outstanding at December 31, 2021	598,051	$	23.39
Granted	546,405	33.79

Vested into shares	(175,159)	27.88
Forfeited	(14,193)	33.18
Outstanding at December 31, 2022	955,104	$	28.38
Granted	293,086	27.17

Vested into shares	(269,144)	29.68
Forfeited	(30,533)	32.23
Outstanding at December 31, 2023	948,513	$	27.52

A summary of the status of the Company’s PSUs under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021, and changes during the years then ended is as follows:


	2022 Equity Plan
	PSUs
	Equity Awards
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	100,195	$	23.20
Granted	56,276	25.94


Outstanding at December 31, 2021	156,471	$	24.17
Granted	39,429	40.38
Incremental PSUs granted upon performance conditions met	34,194	23.90
Vested into shares	(103,387)
Outstanding at December 31, 2022	126,707	$	31.19
Granted	53,310	27.55

Vested into shares	(41,781)	26.42
Forfeited	(8,468)	30.90
Outstanding at December 31, 2023	129,768	$	30.28

As of December 31, 2023, 2022, and 2021 there was $14,692, $17,160 and $10,413 of total unrecognized compensation expense related to RSUs and PSUs awarded under the 2022 Equity Plan, respectively. The unrecognized compensation expense at December 31, 2023 is expected to be recognized over the remaining weighted average requisite service period of 1.84 years.

A summary of the fair value of the Company’s stock options exercised and restricted stock units vested under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021 is presented below:


	Fair Value of Options Exercised, RSUs and PSUs Vested as of December 31,
	2023		2022		2021
Nonperformance-based stock options exercised	$	66	$	792	$	9,214
RSUs vested	3,924		6,356		2,781
PSUs vested	1,070		4,040		—

Veritex (Green) 2014 Plan

A summary of the status of the Company’s stock options under the Veritex (Green) 2014 Plan as of December 31, 2023, 2022 and 2021 changes during the years then ended is as follows:


	Veritex (Green) 2014 Plan
	Non-performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2020	352,000	$	19.99

Forfeited	(7,245)	21.38

Exercised	(126,951)	20.55
Outstanding at December 31, 2021	217,804	$	19.62	6.13 years

Exercised	(62,592)	19.59
Outstanding at December 31, 2022	155,212	$	19.83	5.20 years
Cancelled	(9,717)	21.38
Exercised	(20,996)	20.95
Outstanding at December 31, 2023	124,499	$	22.00	3.70 years	$	616
Options exercisable at December 31, 2023	124,499	$	22.00	3.70 years	$	616

As of December 31, 2023 and 2022 there was no unrecognized compensation expense related to options awarded under the Veritex (Green) 2014 Plan. As of December 31, 2021 there was $100 of total unrecognized compensation expense related to options awarded under the Veritex (Green) 2014 Plan.

A summary of the status of the Company’s RSUs under the Veritex (Green) 2014 Plan as of December 31, 2023, 2022 and 2021 and changes during the years then ended, is as follows:


	Veritex (Green) 2014 Plan
	RSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	156,187	$	22.64
Granted	5,692	26.12


Vested into shares	(33,335)	21.38
Forfeited	(5,760)	23.62
Outstanding at December 31, 2021	122,784	$	21.13
Granted	4,231	40.38
Vested into shares	(32,931)	21.80
Forfeited	(7,851)	29.13
Outstanding at December 31, 2022	86,233	$	21.09

Vested into shares	(19,282)	29.66
Forfeited	(2,232)	29.13
Outstanding at December 31, 2023	64,719	$	18.26

A summary of the status of the Company’s PSUs under the Veritex (Green) 2014 Plan as of December 31, 2023, 2022 and 2021 and changes during the years then ended, is as follows:


	Veritex (Green) 2014 Plan
	PSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	30,728	$	21.43
Granted	6,231	25.94

Forfeited	(1,060)	19.69
Outstanding at December 31, 2021	35,899	$	22.26
Granted	4,411	40.38
Incremental PSUs granted upon performance condition met	10,566	19.69
Vested into shares	(31,703)	21.38

Outstanding at December 31, 2022	19,173	$	30.74


Vested into shares	(8,531)	25.94

Outstanding at December 31, 2023	10,642	$	31.93

As of December 31, 2023, 2022 and 2021, there was $1,781, $3,825 and $1,252, respectively, of total unrecognized compensation related to outstanding RSUs and PSUs awarded under the Veritex (Green) 2014 Plan to be recognized over a remaining weighted average requisite service period of 0.85 years.

A summary of the fair value of the Company’s stock options exercised and RSUs vested under the Veritex (Green) 2014 Plan during the year ended December 31, 2023, 2022 and 2021 is presented below:


	Fair Value of Options Exercised or Restricted Stock Units Vested in the year ended December 31,
	2023		2022		2021
Non-performance-based stock options exercised	$	71	$	1,157	$	4,599
RSUs vested	2,384		1,312		713
PSUs vested	227		1,261		—

Green 2010 Plan

In addition to the Veritex (Green) 2014 Plan discussed earlier in this Note, the Company assumed the Green Bancorp Inc. 2010 Stock Option Plan (“Green 2010 Plan”).

A summary of the status of the Company’s stock options under the Green 2010 Plan as of December 31, 2023, 2022 and 2021 and changes during the years then ended, is as follows:


	Green 2010 Plan
	Non-performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2020	131,083	$	11.60
Forfeited	(2,198)
Exercised	(62,742)	10.51
Outstanding at December 31, 2021	66,143	$	12.56


Canceled	(21,235)	11

Exercised	(1,746)	13.20
Outstanding at December 31, 2022	43,162	$	13.11



Exercised	(32,378)	13.26
Outstanding and exercisable at December 31, 2023	10,784	$	12.65	4.06 years	$	115

A summary of the fair value of the Company’s stock options exercised under the Green 2010 Plan during the year ended December 31, 2023, 2022, and 2021 is presented below:


	Fair Value of Options Exercised in the year ended December 31,
	2023		2022		2021
Non-performance-based stock options exercised	$	379	$	47	$	1,838

LHI AND ACL - Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Servicing Asset at Amortized Cost [Line Items]
Real Property	$ 9,593,125	$ 9,501,624
ACL Allocation	109,816	91,052	$ 77,754	$ 105,084
Real Estate \| Commercial Real Estate \| OOCRE
Servicing Asset at Amortized Cost [Line Items]
Real Property	794,088	715,829
ACL Allocation	10,252	8,707	9,215	9,719
Real Estate \| Commercial Real Estate \| NOOCRE
Servicing Asset at Amortized Cost [Line Items]
Real Property	2,350,725	2,341,379
ACL Allocation	27,729	26,704	30,548	35,237
Commercial
Servicing Asset at Amortized Cost [Line Items]
Real Property	2,752,063	2,942,348
ACL Allocation	35,886	30,142	21,632	37,554
Consumer
Servicing Asset at Amortized Cost [Line Items]
Real Property	10,149	7,806
ACL Allocation	135	112	$ 233	$ 371
Real Estate
Servicing Asset at Amortized Cost [Line Items]
Real Property	44,939	23,344
Real Estate \| Real Estate \| Commercial Real Estate \| OOCRE
Servicing Asset at Amortized Cost [Line Items]
Real Property	3,059	1,193
Real Estate \| Real Estate \| Commercial Real Estate \| NOOCRE
Servicing Asset at Amortized Cost [Line Items]
Real Property	21,169	20,896
Real Estate \| Commercial
Servicing Asset at Amortized Cost [Line Items]
Real Property	20,711	1,240
Real Estate \| Consumer
Servicing Asset at Amortized Cost [Line Items]
Real Property	0	15
Collateral Pledged
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	3,386	2,663
Collateral Pledged \| Real Estate \| Commercial Real Estate \| OOCRE
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	47	129
Collateral Pledged \| Real Estate \| Commercial Real Estate \| NOOCRE
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	0	2,138
Collateral Pledged \| Commercial
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	3,339	396
Collateral Pledged \| Consumer
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	$ 0	$ 0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

LHI and ACL - Trouble Debt Restructuring (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	$ 88,036
30-59 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
60-89 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
90+ Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	1,387
Commercial \| Commercial Real Estate
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	23,346
Commercial \| Commercial Real Estate \| 30-59 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
Commercial \| Commercial Real Estate \| 60-89 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
Commercial \| Commercial Real Estate \| 90+ Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	1,387
1 - 4 family residential \| Real Estate \| Residential Real Estate
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	41,066
1 - 4 family residential \| Real Estate \| Residential Real Estate \| 30-59 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
1 - 4 family residential \| Real Estate \| Residential Real Estate \| 60-89 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
1 - 4 family residential \| Real Estate \| Residential Real Estate \| 90+ Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
NOOCRE \| Real Estate \| Commercial Real Estate
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	23,624
NOOCRE \| Real Estate \| Commercial Real Estate \| 30-59 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
NOOCRE \| Real Estate \| Commercial Real Estate \| 60-89 Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
NOOCRE \| Real Estate \| Commercial Real Estate \| 90+ Days Past Due
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	0
Interest Rate Reduction
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	48,357
Interest Rate Reduction \| Commercial \| Commercial Real Estate
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	$ 24,733
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	0.90%
Interest Rate Reduction \| 1 - 4 family residential \| Real Estate \| Residential Real Estate
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	$ 41,066
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	4.40%
Interest Rate Reduction \| NOOCRE \| Real Estate \| Commercial Real Estate
Troubled Debt Restructuring
Financing receivable, troubled debt restructuring, postmodification	$ 23,624
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	1.00%
Contractual Interest Rate Reduction \| Real Estate \| Residential Real Estate \| Minimum
Troubled Debt Restructuring
Weighted-average contractual interest rate (in percent)	7.50%
Contractual Interest Rate Reduction \| Real Estate \| Residential Real Estate \| Maximum
Troubled Debt Restructuring
Weighted-average contractual interest rate (in percent)	6.00%

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)
Total capital (to RWA)
Actual amount	$ 1,500,703	$ 1,395,904
Actual ratio (as a percent)	0.1318	0.1163
For capital adequacy purposes amount	$ 910,897	$ 960,209
For capital adequacy purposes ratio (as a percent)	0.080	0.080
Tier 1 capital (to RWA)
Actual amount	$ 1,202,252	$ 1,121,021
Actual ratio (as a percent)	0.1056	0.0934
For capital adequacy purposes amount	$ 683,098	$ 720,142
For capital adequacy purposes ratio (as a percent)	0.060	0.060
CET1 (to RWA)
Common equity tier one capital	$ 1,172,362	$ 1,091,353
Common equity tier one capital ratio (as a percent)	0.1029	0.0909
Common equity tier one capital required for capital adequacy	$ 512,695	$ 540,274
For capital adequacy purposes amount (as a percent)	0.045	0.045
Tier 1 capital (to average assets)
Actual amount	$ 1,202,252	$ 1,121,021
Actual ratio (as a percent)	0.1003	0.0982
For capital adequacy purposes amount	$ 479,462	$ 456,628
For capital adequacy purposes ratio (as a percent)	0.040	0.040
Dividends paid	$ 43,318	$ 42,289	$ 36,543
Bank's capital conservation buffer	0.0490
Bank
Total capital (to RWA)
Actual amount	$ 1,467,960	$ 1,368,082
Actual ratio (as a percent)	0.1290	0.1141
For capital adequacy purposes amount	$ 910,363	$ 959,216
For capital adequacy purposes ratio (as a percent)	0.080	0.080
To be well capitalized under prompt corrective action provisions amount	$ 1,137,953	$ 1,199,020
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.100	0.100
Tier 1 capital (to RWA)
Actual amount	$ 1,368,384	$ 1,291,288
Actual ratio (as a percent)	0.1203	0.1077
For capital adequacy purposes amount	$ 682,486	$ 719,381
For capital adequacy purposes ratio (as a percent)	0.060	0.060
To be well capitalized under prompt corrective action provisions amount	$ 909,981	$ 959,174
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.080	0.080
CET1 (to RWA)
Common equity tier one capital	$ 1,368,384	$ 1,291,288
Common equity tier one capital ratio (as a percent)	0.1203	0.1077
Common equity tier one capital required for capital adequacy	$ 511,864	$ 539,535
For capital adequacy purposes amount (as a percent)	0.045	0.045
Common equity tier one capital required to be well-capitalized	$ 739,360	$ 779,329
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.065	0.065
Tier 1 capital (to average assets)
Actual amount	$ 1,368,384	$ 1,291,288
Actual ratio (as a percent)	0.1143	0.1132
For capital adequacy purposes amount	$ 478,875	$ 456,286
For capital adequacy purposes ratio (as a percent)	0.040	0.040
To be well capitalized under prompt corrective action provisions amount	$ 598,593	$ 570,357
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.050	0.050
Dividends paid to Holdco	$ 60,000	$ 35,000
Veritex Holdings, Inc.
Tier 1 capital (to average assets)
Dividends paid	$ 43,318	$ 42,289
Dividends paid (in dollars per share) \| $ / shares	$ 0.20	$ 0.20

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at the beginning of the year:	$ 293	$ 503	$ 549
Gross increases, related to tax positions taken in a prior period	278	0	0
Gross decreases, related to tax positions taken in a prior period	0	(44)	(101)
Gross increases, related to tax positions taken in current period	133	75	55
Settlement with taxing authority	0	(241)	0
Expiration of statute of limitations	(25)	0	0
Unrecognized tax benefits at the end of the year	$ 679	$ 293	$ 503

FAIR VALUE DISCLOSURES - Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets:
HTM debt securities	$ 160,021	$ 158,781
Equity securities without a readily determinable fair value	11,624	10,072
FHLB and FRB stock	53,699	101,568
Financial liabilities:
Subordinated debentures and subordinated notes	229,783	228,775
Carrying Amount
Financial assets:
Cash and cash equivalents	629,063	436,077
HTM debt securities	180,403	186,168
LHFS	11,288	866
Accrued interest receivable	53,313	44,035
BOLI	84,833	84,496
Servicing asset	6,576	3,896
Equity securities without a readily determinable fair value	11,624	10,072
FHLB and FRB stock	53,699	101,568
Financial liabilities:
Deposits	10,338,195	9,123,234
Advances from FHLB	100,000	1,175,000
Accrued interest payable	41,948	8,795
Subordinated debentures and subordinated notes	229,783	228,775
Level 1 \| Total Fair Value
Financial assets:
Cash and cash equivalents	0	0
HTM debt securities	0	0
LHFS	0	0
Accrued interest receivable	0	0
BOLI	0	0
Servicing asset	0	0
Financial liabilities:
Deposits	0	0
Advances from FHLB	0	0
Accrued interest payable	0	0
Subordinated debentures and subordinated notes	0	0
Level 2 \| Total Fair Value
Financial assets:
Cash and cash equivalents	629,063	436,077
HTM debt securities	160,021	158,781
LHFS	11,288	866
Accrued interest receivable	53,313	44,035
BOLI	84,833	84,496
Servicing asset	6,576	3,896
Financial liabilities:
Deposits	9,779,849	8,341,419
Advances from FHLB	141,999	1,156,852
Accrued interest payable	41,948	8,795
Subordinated debentures and subordinated notes	229,783	228,775
Level 3 \| Total Fair Value
Financial assets:
Cash and cash equivalents	0	0
HTM debt securities	0	0
LHFS	0	0
Accrued interest receivable	0	0
BOLI	0	0
Servicing asset	0	0
Financial liabilities:
Deposits	0	0
Advances from FHLB	0	0
Accrued interest payable	0	0
Subordinated debentures and subordinated notes	0	0
Real Estate, Commercial and Consumer Portfolio Segments \| Carrying Amount
Financial assets:
LHI	9,577,180	9,399,614
Real Estate, Commercial and Consumer Portfolio Segments \| Level 1 \| Total Fair Value
Financial assets:
LHI	0	0
Real Estate, Commercial and Consumer Portfolio Segments \| Level 2 \| Total Fair Value
Financial assets:
LHI	0	0
Real Estate, Commercial and Consumer Portfolio Segments \| Level 3 \| Total Fair Value
Financial assets:
LHI	$ 9,322,744	$ 9,163,616

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
Balance at beginning of year	$	404,452	$	403,771


NAC acquisition1	—		681

Balance at end of year	$	404,452	$	404,452

1During the first quarter of 2022, the purchased accounting adjustments for NAC were finalized resulting in an increase in goodwill during 2022.

Intangible assets in the accompanying consolidated balance sheets are summarized as follows:


	December 31, 2023
	Remaining
	Weighted	Gross						Net
	Amortization	Intangible		Valuation		Accumulated		Intangible
	Period	Asset		Allowance		Amortization		Asset
Core deposit intangibles	3.0 years	$	81,769	$	—	$	53,274	$	28,495
Servicing asset	7.2 years	26,930		1,532		12,140		13,258
Intangible lease assets	0.0 years	4,779		—		4,779		—
		$	113,478	$	1,532	$	70,193	$	41,753


	December 31, 2022
	Remaining
	Weighted	Gross						Net
	Amortization	Intangible		Valuation		Accumulated		Intangible
	Period	Asset		Allowance		Amortization		Asset
Core deposit intangibles	4.0 years	$	81,769	$	—	$	43,523	$	38,246
Servicing asset	7.4 years	24,760		2,451		7,429		14,880
Intangible lease assets	0.3 years	4,779		—		4,692		87
		$	111,308	$	2,451	$	55,644	$	53,213

For the years ended December 31, 2023, 2022 and 2021, amortization expense related to intangible assets of approximately $14,549, $13,650 and $10,888, respectively, is included within amortization of intangibles, occupancy and equipment and other income within the consolidated statements of income. For the years ended December 31, 2023 and 2022, a valuation allowance related to intangible assets was $1,532 and $2,451, respectively. The estimated aggregate future amortization expense for intangible assets remaining as of December 31, 2023 was as follows:


Year	Amount
2024	$	11,595
2025	11,259
2026	10,640
2027	2,377
2028	1,844
Thereafter	4,038
	$	41,753

DERIVATIVE FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

The Company primarily uses derivatives to manage exposure to market risk, including interest rate risk and credit risk and to assist customers with their risk management objectives. Management will designate certain derivatives as hedging instruments in a qualifying hedge accounting relationship. The Company’s remaining derivatives consist of derivatives held for customer accommodation or other purposes.

The fair value of derivative positions outstanding is included in other assets and accounts payable and other liabilities on the Company's consolidated balance sheets and in the net change in each of these financial statement line items in the Company's consolidated statements of cash flows. For derivatives not designated as hedging instruments, swap fee income and gains and losses due to changes in fair value are included in noninterest income and the operating section of the Company's consolidated statement of cash flows. For derivatives designated as hedging instruments, the entire change in the fair value related to the derivative instrument is recognized as a component of other comprehensive income and subsequently reclassified into interest income when the forecasted transaction affects income. The notional amounts and estimated fair values as of December 31, 2023 and December 31, 2022 were as shown in the table below.


	December 31, 2023						December 31, 2022
			Estimated Fair Value						Estimated Fair Value
	Notional Amount		Asset Derivative		Liability Derivative		Notional Amount		Asset Derivative		Liability Derivative
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on money market deposit account payments	$	250,000	$	12,208	$	—	$	250,000	$	21,234	$	—
Interest rate swaps on fixed rate advances/brokered CDs	200,000		—		4,296		—		—		—
Interest rate swaps on customer loan interest payments	375,000		—		40,055		375,000		—		49,211
Interest rate collars on customer loan interest payments	450,000		2,304		2,770		450,000		3,267		4,960
Interest rate floor on customer loan interest payments	200,000		4,302		—		100,000		2,022		—
Total derivatives designated as hedging instruments	$	1,475,000	$	18,814	$	47,121	$	1,175,000	$	26,523	$	54,171

Derivatives not designated as hedging instruments:
Financial institution counterparty:
Interest rate swaps	$	893,702	$	28,007	$	2,322	$	805,311	$	38,839	$	1,126
Interest rate caps and collars	285,370		1,344		—		68,370		1,494		—
Commercial customer counterparty:
Interest rate swaps	893,702		2,118		27,288		805,311		1,004		38,188
Interest rate caps and collars	285,370		—		1,344		68,370		—		1,494
Total derivatives not designated as hedging instruments	$	2,358,144	$	31,469	$	30,954	$	1,747,362	$	41,337	$	40,808
Offsetting derivative assets/liabilities	—		(29,463)		(29,463)		—		(30,982)		(30,982)
Total derivatives	$	3,833,144	$	20,820	$	48,612	$	2,922,362	$	36,878	$	63,997

Pre-tax gain (loss) included in the Company's consolidated statements of income and related to derivative instruments for the years ended December 31, 2023 and 2022 was as follows:


	For the Year Ended December 31, 2023						For the Year Ended December 31, 2022
	Net (loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from accumulated other comprehensive income into income		Location of gain (loss) reclassified from accumulated other comprehensive income into income		Net (loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from accumulated other comprehensive income into income		Location of gain (loss) reclassified from accumulated other comprehensive income into income
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on borrowing advances	$	(4,386)	$	4,386	Interest Expense		$	(3,569)	$	3,569	Interest Expense
Interest rate swaps on money market deposit account and funding source payments	(13,322)		11,798		Interest Expense		16,693		3,208		Interest Expense

Interest rate swaps, collars and floor on customer loan interest payments	9,964		(19,196)		Interest Income		(54,623)		(1,757)
Total	$	(7,744)	$	(3,012)			$	(41,499)	$	5,020


					Net Gain recognized in other noninterest income						Net Gain recognized in other noninterest income
Derivatives not designated as hedging instruments:
Interest rate swaps, caps and collars					$	1,633					$	7,217

Cash Flow Hedges

In November 2023, the Company entered into an interest rate swap for a notional amount of $100,000 to hedge for changes in cash flows attributable to changes in the contractually specified interest rate, currently the USD-SOFR-OIS Compound rate on variable rate forecasted funding from November 2023 through October 2026.

In October 2023, the Company entered into an interest rate swap for a notional amount of $100,000 to hedge for the variability of cash flows, currently the benchmark of USD-SOFR-OIS Compound rate due to the rollover of its quarterly fixed-rate FHLB, brokered CDs, or other fixed rate advances every quarter from November 2023 through October 2026.

In February 2023, the Company entered into an interest rate floor for a notional amount of $100,000 to hedge for changes in cash flows attributable to changes in the contractually specified interest rate, currently the 1M SOFR CME rate on a pool of customer floating rate loans from February 2023 through February 2027.

In October 2022, the Company entered into an interest rate floor for a notional amount of $100,000 to hedge for changes in cash flows attributable to changes in the contractually specified interest rate, currently the 1M SOFR CME rate on a pool of customer floating rate loans from November 2022 through October 2025. The Company also entered into an interest rate collar for a notional amount of $100,000 to hedge for changes in cash flows attributable to changes in the contractually specified interest rate, currently the 1M SOFR CME rate on a separate pool of customer floating rate loans from November 2022 through October 2026.

In August 2022, the Company entered into an interest rate collar for a notional amount of $350,000 to hedge for changes in its cash flows attributable to changes in the contractually specified interest rate, currently the 1M SOFR CME rate of its customer floating rate loan portfolio from August 2022 through August 2025.

In March 2021, the Company entered into three fixed receive/pay variable interest rate swaps, each with a notional amount of $125,000, to hedge the variability of cash flow payments attributable to changes in interest rates in regards to forecasted of three-month attributable to changes in interest rates in regards to forecasted money market account borrowings from March 2021 through March 2028 and March 2021 through March 2031.

In March 2020, the Company entered into an interest rate swap for a notional amount of $500,000 to hedge the variability of cash flow payments attributable to changes in interest rates in regards to forecasted issuances of three-month term debt arrangements every three months from March 2022 through March 2032. These forecasted borrowings can be sourced from an FHLB advance, repurchase agreement, brokered certificate of deposit or some combination. The interest rate swap was terminated on February 24, 2021. The pre-tax gain of $43,900, resulting from the termination of the interest rate swap, will remain in other comprehensive income (loss) and will be accreted over a 10 year period starting in March 2022 unless forecasted transactions become probable of not occurring. The gain accreted into income during the twelve months ended December 31, 2023 was $4,386.

In March 2020, the Company entered into an interest rate swap for a notional amount of $250,000 to hedge the variability of cash flow payments attributable to changes in interest rates in regards to forecasted money market account borrowings from March 2020 through March 2025.

Interest Rate Swap, Floor, Cap and Collar Agreements Not Designated as Hedging Derivatives

In order to accommodate the borrowing needs of certain commercial customers, the Company has entered into interest rate swap or cap agreements with those customers. These interest rate derivative contracts effectively allow the Company’s customers to convert a variable rate loan into a fixed rate loan. In order to offset the exposure and manage interest rate risk, at the time an agreement was entered into with a customer, the Company entered into an interest rate swap or cap with a correspondent bank counterparty with offsetting terms. These derivative instruments are not designated as accounting hedges and changes in the net fair value are recognized in noninterest income or expense. Because the Company acts as an intermediary for its customers, changes in the fair value of the underlying derivative contracts substantially offset each other and do not have a material impact on the Company’s results of operations. The fair value amounts are included in other assets and other liabilities.

The following is a summary of the interest rate swaps outstanding as of December 31, 2023 and December 31, 2022.


	December 31, 2023
	Notional Amount		Fixed Rate	Floating Rate	Maturity (Wtd. Avg.)	Fair Value
Non-hedging derivative instruments:
Customer interest rate derivative:
Interest rate swaps - receive fixed/pay floating	$	893,702	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0%- 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	4.1 years	$	(25,170)
Interest rate caps and collars	$	285,370	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	0.8 years	$	(1,344)

Correspondent interest rate derivative:
Interest rate swaps - pay fixed/receive floating	$	893,702	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0%- 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	4.1 years	$	25,685
Interest rate caps and collars	$	285,370	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	0.8 years	$	1,344


	December 31, 2022
	Notional Amount		Fixed Rate	Floating Rate	Maturity (Wtd. Avg.)	Fair Value
Non-hedging derivative instruments:
Customer interest rate derivative:
Interest rate swaps - receive fixed/pay floating	$	805,311	2.4% - 8.5%	LIBOR 1 month + 2.8% - 5.0%1 SOFR CME 1 month + 0.0% - 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	5.1 years	$	(37,183)
Interest rate caps and collars	$	68,370	3.5%	LIBOR 1 month + 0.0%	1.8 years	$	(1,494)

Correspondent interest rate derivative:
Interest rate swaps - pay fixed/receive floating	$	805,311	2.4% - 8.5%	LIBOR 1 month + 2.8% - 5.0%1 SOFR CME 1 month + 0.0% - 3.8% SOFR - NYFD 30 day average + 2.5% - 3.0%	5.1 years	$	37,713
Interest rate caps and collars	$	68,370	3.5%	LIBOR 1 month + 0.0%	1.8 years	$	1,494

1 The derivative utilizing LIBOR 1 month as of December 31, 2023 is utilizing the allowable fallback provision.

OFF-BALANCE SHEET LOAN COMMITMENTS - Allowance for Unfunded Commitments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Unfunded Commitments [Roll Forward]
Beginning balance for ACL on unfunded commitments	$ 10,086	$ 9,266
(Benefit) provision for credit losses on unfunded commitments	(2,041)	820	$ (1,481)
Ending balance of ACL on unfunded commitments	$ 8,045	$ 10,086	$ 9,266

LEASES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease, right-of-use asset	$ 19,308	$ 16,762
Total lease liability	$ 20,505	$ 17,327
Operating lease, right of use asset, balance sheet location [Extensible List]	Other assets	Other assets
Operating lease liability, balance sheet location [Extensible List]	Accounts payable and other liabilities	Accounts payable and other liabilities
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	1 year
Extension options (in years)	5 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	9 years
Extension options (in years)	10 years

STOCK AND INCENTIVE PLANS - Fair Value Options Exercised or Restricted Stock Units Vested (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
2010 Stock Option and Equity Incentive Plan \| Non-performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonperformance-based stock options exercised	$ 16	$ 0	$ 568
2022 Equity Plan \| Non-performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonperformance-based stock options exercised	66	792	9,214
2022 Equity Plan \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-performance based restricted stock units vested	3,924	6,356	2,781
2022 Equity Plan \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-performance based restricted stock units vested	1,070	4,040	0
Veritex (Green) 2014 Plan \| Non-performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonperformance-based stock options exercised	71	1,157	4,599
Non-performance based restricted stock units vested	227	1,261	0
Veritex (Green) 2014 Plan \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-performance based restricted stock units vested	2,384	1,312	713
Green Bancorp Inc. 2010 Stock Option Plan \| Non-performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonperformance-based stock options exercised	$ 379	$ 47	$ 1,838

SHARE TRANSACTIONS (Details) - USD ($)				12 Months Ended
SHARE TRANSACTIONS (Details) - USD ($)	Mar. 14, 2022	Mar. 10, 2022	Mar. 08, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Net proceeds on sale of common stock in public offering	$ 154,372,000			$ 0	$ 154,415,000	$ 0
Public Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			3,947,369
Sale of stock, price per share (in dollars per share)		$ 38.00	$ 38.00
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		367,105
Common Stock
Subsidiary, Sale of Stock [Line Items]
Stock repurchase program, authorized amount					$ 250,000,000

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

The provision for income taxes is summarized as follows:


	Year Ended December 31,
	2023		2022		2021
Income tax expense (benefit):
Current	$	38,672	$	45,981	$	32,075
Deferred	(2,649)		(5,662)		4,647
Total income tax expense	$	36,023	$	40,319	$	36,722

The table below reconciles income tax expense for the years ended December 31, 2023, 2022 and 2021 computed by applying the applicable U.S. federal statutory income tax rate, reconciled to the tax expense computed at the effective income tax rate:


	Year Ended December 31,
	2023			2022			2021
Federal income tax expense rate at 21% for December 31, 2023, 2022 and 2021	$	30,300		$	39,193		$	37,024
Bank-owned life insurance	(663)			(448)			(852)
Non-deductible transaction costs	—			—			78
Tax exempt interest income	(899)			(579)			(545)

Deferred tax true up	4			54			24
162(m) Disallowance	512			1,183			504
State taxes, net of federal benefit	1,510			1,769			1,039
Excess benefit on share-based compensation	340			(1,056)			(838)
Valuation allowance on Thrive impairment	4,249			—			—

Other	670			203			288
Total income tax expense	$	36,023		$	40,319		$	36,722
Effective tax rate	25.0		%	21.6		%	20.8		%

Deferred income taxes reflect the net tax effects of temporary differences between the recorded amounts of assets and liabilities for financial reporting purposes, and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:


	December 31,
	2023		2022
Deferred tax assets:

ACL	$	25,449	$	21,647
Equity compensation	4,669		4,286
Purchase premium/loan discounts	984		1,546

Lease liability	4,428		3,708
Net unrealized loss on debt securities AFS	16,870		17,204
Purchased securities	1,836		2,520
Investment in Thrive	5,156		—
Other	5,567		9,219
Total gross deferred tax assets	$	64,959	$	60,130
Valuation allowance on Thrive impairment	(4,249)		—
Total net deferred tax assets	$	60,710	$	60,130
Deferred tax liabilities:
Intangibles	8,089		9,340
Bank premises and equipment	5,326		6,163
ROU asset	4,169		3,587

Other	2,885		3,214
Total deferred tax liabilities	20,469		22,304
Net deferred tax asset	$	40,241	$	37,826

Included within other assets in the Company's consolidated balance sheet as of December 31, 2023 is a current tax receivable of $19,131 and included within other assets is a net deferred tax asset of $40,241. Included within other assets in the Company's consolidated balance sheets as of December 31, 2022 is a current tax receivable of $1,741 and included in other

assets is a net deferred tax asset of $37,826. Additionally, included within accounts payable and accrued expenses in the Company's consolidated balance sheets as of December 31, 2023 and December 31, 2022 is a $34 and a $573 current state tax payable, respectively.

At December 31, 2023, we determined it was more likely than not that a portion of our deferred tax assets would not be realized in their entirety. Thus, the Company recorded a $4,249 valuation allowance in continuing operations relating to the impairment on our investment in Thrive as of December 31, 2023. The deferred tax asset is not realizable due to the capital loss that will not be recognized. There was no valuation allowance in the comparable period in 2022.

The following table provides a rollforward of the Company's gross federal and state unrecognized tax benefits for the years ending December 31, 2023, 2022 and 2021.


	December 31
	2023		2022		2021
Unrecognized tax benefits at the beginning of the year:	$	293	$	503	$	549
Gross increases, related to tax positions taken in a prior period	278		—		—
Gross decreases, related to tax positions taken in a prior period	—		(44)		(101)
Gross increases, related to tax positions taken in current period	133		75		55
Settlement with taxing authority	—		(241)		—
Expiration of statute of limitations	(25)		—		—
Unrecognized tax benefits at the end of the year	$	679	$	293	$	503

The Company files income tax returns in the U.S. federal jurisdiction and U.S. state jurisdictions. As of December 31, 2023, the Company is no longer subject to U.S. federal income tax examinations for tax years prior to 2020 and state income tax examinations for tax years prior to 2019.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Property, Plant and Equipment [Abstract]

LHI AND ACL - Allowance for Credit Loss Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of allowance for loan losses
Balance at beginning of year	$ 91,052	$ 77,754	$ 105,084
Provision (benefit) for credit losses	42,512	26,950	(3,349)
Charge-offs	(25,366)	(16,072)	(26,390)
Recoveries	1,618	2,420	2,409
Ending Balance	109,816	91,052	77,754
Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	42,360	32,828	(25,862)
PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	152	(5,878)	22,513
Real Estate \| Construction and Land
Analysis of allowance for loan losses
Balance at beginning of year	13,120	7,293	7,768
Charge-offs	0	0	0
Recoveries	0	0	0
Ending Balance	21,032	13,120	7,293
Real Estate \| Construction and Land \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	7,958	5,855	(547)
Real Estate \| Construction and Land \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	(46)	(28)	72
Real Estate \| Farmland
Analysis of allowance for loan losses
Balance at beginning of year	127	187	56
Charge-offs	0	0	0
Recoveries	0	0	0
Ending Balance	101	127	187
Real Estate \| Farmland \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	(26)	(60)	131
Real Estate \| Farmland \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	0	0	0
Real Estate \| Residential Real Estate \| 1 - 4 family residential
Analysis of allowance for loan losses
Balance at beginning of year	9,533	5,982	8,148
Charge-offs	(21)	0	(379)
Recoveries	3	31	64
Ending Balance	9,539	9,533	5,982
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	26	3,757	(2,153)
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	(2)	(237)	302
Real Estate \| Residential Real Estate \| Multi-family residential
Analysis of allowance for loan losses
Balance at beginning of year	2,607	2,664	6,231
Charge-offs	(192)	0	0
Recoveries	0	0	0
Ending Balance	4,882	2,607	2,664
Real Estate \| Residential Real Estate \| Multi-family residential \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	2,467	(57)	(3,567)
Real Estate \| Residential Real Estate \| Multi-family residential \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	0	0	0
Real Estate \| Commercial Real Estate \| OOCRE
Analysis of allowance for loan losses
Balance at beginning of year	8,707	9,215	9,719
Charge-offs	(855)	(2,646)	(2,400)
Recoveries	0	271	500
Ending Balance	10,252	8,707	9,215
Real Estate \| Commercial Real Estate \| OOCRE \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	2,352	4,633	(2,325)
Real Estate \| Commercial Real Estate \| OOCRE \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	48	(2,766)	3,721
Real Estate \| Commercial Real Estate \| NOOCRE
Analysis of allowance for loan losses
Balance at beginning of year	26,704	30,548	35,237
Charge-offs	(13,649)	(2,410)	(7,936)
Recoveries	350	725	0
Ending Balance	27,729	26,704	30,548
Real Estate \| Commercial Real Estate \| NOOCRE \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	13,706	(2,588)	(7,490)
Real Estate \| Commercial Real Estate \| NOOCRE \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	618	429	10,737
Commercial
Analysis of allowance for loan losses
Balance at beginning of year	30,142	21,632	37,554
Charge-offs	(10,413)	(9,731)	(15,576)
Recoveries	1,165	1,308	1,542
Ending Balance	35,886	30,142	21,632
Commercial \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	15,458	18,933	(9,510)
Commercial \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	(466)	(2,000)	7,622
Mortgage Warehouse
Analysis of allowance for loan losses
Balance at beginning of year	0	0	0
Charge-offs	0	0	0
Recoveries	0	0	0
Ending Balance	260	0	0
Mortgage Warehouse \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	260	0	0
Mortgage Warehouse \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	0	0	0
Consumer
Analysis of allowance for loan losses
Balance at beginning of year	112	233	371
Charge-offs	(236)	(1,285)	(99)
Recoveries	100	85	303
Ending Balance	135	112	233
Consumer \| Non-PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	159	2,355	(401)
Consumer \| PCD Loans
Analysis of allowance for loan losses
Provision (benefit) for credit losses	$ 0	$ (1,276)	$ 59

STOCK AND INCENTIVE PLANS - Veritex (Green) 2014 Plan Options (Details) - Veritex (Green) 2014 Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-performance Based Stock Options
Shares Underlying Options
Outstanding at beginning of period (in shares)	155,212	217,804	352,000
Forfeited (in shares)			(7,245)
Canceled (in shares)	(9,717)
Exercised (in shares)	(20,996)	(62,592)	(126,951)
Outstanding at the end of period (in shares)	124,499	155,212	217,804
Options exercisable at end of period (in shares)	124,499
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 19.83	$ 19.62	$ 19.99
Forfeited (in dollars per share)			21.38
Cancelled (in dollars per share)	21.38
Exercised (in dollars per share)	20.95	19.59	20.55
Outstanding at the end of period (in dollars per share)	22.00	$ 19.83	$ 19.62
Options exercisable at end of period (in dollars per share)	$ 22.00
Weighted Average Contractual Term
Outstanding at beginning of year, term (in years)	3 years 8 months 12 days	5 years 2 months 12 days	6 years 1 month 17 days
Options exercisable at end of period (in years)	3 years 8 months 12 days
Aggregate Intrinsic Value
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 616
Options exercisable, intrinsic value	$ 616
PSUs
Aggregate Intrinsic Value
Incremental PSUs granted upon performance condition met (in shares)		10,566
Incremental PSUs granted upon performance condition met (in dollars per share)		$ 19.69
Vested into shares (in shares)	(8,531)	(31,703)
Vested (in dollars per share)	$ 25.94	$ 21.38

PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

PREMISES AND EQUIPMENT

Premises and equipment in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
Building and improvements	$	55,911	$	56,517
Site improvements	2,845		2,903
Tenant improvements	779		779
Leasehold improvements	8,432		7,497
Land	37,368		38,709
Furniture, fixtures and equipment	29,437		27,417
Construction in progress	2,348		1,579
	137,120		135,401
Less accumulated depreciation and amortization	31,393		26,577
	$	105,727	$	108,824

The Company recorded depreciation and amortization expense of approximately $4,816, $5,018 and $3,123 for the years ended December 31, 2023, 2022 and 2021, respectively.

GOODWILL AND INTANGIBLE ASSETS - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Estimated aggregate future amortization expense [Abstract]
2024	$ 11,595
2025	11,259
2026	10,640
2027	2,377
2028	1,844
Thereafter	4,038
Net intangible assets	$ 41,753	$ 53,213

PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Bank Premises, Furniture and Equipment

Premises and equipment in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
Building and improvements	$	55,911	$	56,517
Site improvements	2,845		2,903
Tenant improvements	779		779
Leasehold improvements	8,432		7,497
Land	37,368		38,709
Furniture, fixtures and equipment	29,437		27,417
Construction in progress	2,348		1,579
	137,120		135,401
Less accumulated depreciation and amortization	31,393		26,577
	$	105,727	$	108,824

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 108,261	$ 146,315	$ 139,584
Net unrealized gains (losses) on debt securities AFS:
Change in net unrealized gains (losses) on debt securities AFS during the period, net	5,752	(131,005)	(23,596)
Amortization from transfer of debt securities from AFS to HTM	3,122	3,790	0
Reclassification adjustment for net losses included in net income	5,321	0	188
Net unrealized gains (losses) on securities AFS	14,195	(127,215)	(23,408)
Net unrealized (losses) gains on derivative instruments designated as cash flow hedges	(7,744)	(41,499)	33,338
Other comprehensive income (loss), before tax	6,451	(168,714)	9,930
Income tax expense (benefit)	511	(35,241)	2,085
Other comprehensive income (loss), net of tax	5,940	(133,473)	7,845
COMPREHENSIVE INCOME	$ 114,201	$ 12,842	$ 147,429

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$ 648,245	$ 399,679	$ 280,526
Debt securities	44,364	38,736	32,132
Deposits in financial institutions and Fed Funds sold	28,331	6,275	589
Equity securities and other investments	5,934	4,720	3,237
Total interest and dividend income	726,874	449,410	316,484
INTEREST EXPENSE
Transaction and savings deposits	148,975	42,785	6,858
Certificates and other time deposits	125,409	15,307	9,079
Advances from FHLB	41,024	15,501	7,336
Subordinated debentures and subordinated notes	12,352	11,160	12,428
Total interest expense	327,760	84,753	35,701
NET INTEREST INCOME	399,114	364,657	280,783
Provision (benefit) for credit losses	42,512	26,950	(3,349)
(Benefit) provision for credit losses on unfunded commitments	(2,041)	820	(1,481)
Net interest income after provision for credit losses	358,643	336,887	285,613
NONINTEREST INCOME
Service charges and fees on deposit accounts	20,248	20,139	16,742
Loan fees	6,348	10,442	7,607
Loss on sale of debt securities	(5,321)	0	(188)
Gain on sale of mortgage LHFS	77	550	1,592
Gain on sale of SBA LHFS	2,711	2,838	14,477
Gain on sale of USDA LHFS	17,271	11,222	1,283
Equity method investment (loss) income	(30,589)	(5,141)	5,760
Customer swap income	1,618	7,898	2,491
Other	6,742	4,874	8,641
Total noninterest income	19,105	52,822	58,405
NONINTEREST EXPENSE
Salaries and employee benefits	122,070	117,841	94,748
Occupancy and equipment	19,351	18,744	17,263
Professional and regulatory fees	26,166	14,142	12,945
Data processing and software expense	18,539	14,013	9,946
Marketing	8,704	7,179	5,344
Amortization of intangibles	9,838	9,979	10,057
Telephone and communications	1,551	1,484	1,434
M&A expense	0	1,379	826
Other	27,245	18,314	15,149
Total noninterest expense	233,464	203,075	167,712
Income before income tax expense	144,284	186,634	176,306
Income tax expense	36,023	40,319	36,722
NET INCOME	$ 108,261	$ 146,315	$ 139,584
Basic earnings per share (in dollars per share)	$ 2.00	$ 2.75	$ 2.83
Diluted earnings per share (in dollars per share)	$ 1.98	$ 2.71	$ 2.77

PARENT COMPANY ONLY FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Balance Sheets

Balance Sheet


	December 31,
	2023		2022
Assets
Cash and cash equivalents	$	25,728	$	18,278
Investment in subsidiaries	1,728,364		1,650,727
Other assets	17,088		13,043
Total assets	$	1,771,180	$	1,682,048
Liabilities and Stockholders’ Equity
Other liabilities	$	10,074	$	3,500
Other borrowings	229,783		228,775
Total liabilities	239,857		232,275
Stockholders’ equity

Common stock	$	610	$	607
Additional paid-in capital	1,317,516		1,306,852
Retained earnings	444,242		379,299

Accumulated other comprehensive income	(63,463)		(69,403)
Treasury stock	(167,582)		(167,582)
Total stockholders’ equity	1,531,323		1,449,773
Total liabilities and stockholders’ equity	$	1,771,180	$	1,682,048

Statements of Income


	Year Ended December 31,
	2023		2022		2021
Cash dividends from subsidiary	$	60,000	$	35,000	$	8,440
Excess of earnings over dividend from subsidiary	59,647		121,350		142,289
Other	79		43		43
	119,726		156,393		150,772
Interest on borrowings	12,352		11,156		12,426
Salaries and employee benefits	770		685		668

Other	1,364		891		1,057
	14,486		12,732		14,151
Earnings before income tax benefit	105,240		143,661		136,621
Income tax benefit	(3,021)		(2,654)		(2,963)
Net income	$	108,261	$	146,315	$	139,584

Statements of Cash Flows


	Year Ended December 31,
	2023		2022		2021
Cash flows from operating activities:
Net income	$	108,261	$	146,315	$	139,584
Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Amortization of debt discount and debt issuance costs, net	786		790		817
Equity in undistributed net income of Bank	(59,647)		(121,350)		(142,289)
(Increase) decrease in other assets	(5,552)		(7,801)		902
Decrease (increase) in other liabilities	8,303		504		(3,177)
Net cash provided by (used in) operating activities	52,151		18,458		(4,163)
Cash flows from investing activities:



Advances to subsidiaries	—		(154,610)		—
Net cash used in investing activities	—		(154,610)		—
Cash flows from financing activities:

Net proceeds from sale of common stock in public offering	—		154,415		—
Proceeds from exercise of stock warrants	—		—		165
Redemption of subordinated debt	—		—		(35,000)
Proceeds from exercise of employee stock options	924		1,160		6,313
Payments to tax authorities for stock-based compensation	(2,307)		(3,363)		(725)


Repurchase of treasury stock	—		—		(15,509)
Dividends paid	(43,318)		(42,289)		(36,543)

Net cash (used in) provided by financing activities	(44,701)		109,923		(81,299)
Net increase (decrease) in cash and cash equivalents	7,450		(26,229)		(85,462)
Cash and cash equivalents at beginning of year	18,278		44,507		129,969
Cash and cash equivalents at end of year	$	25,728	$	18,278	$	44,507

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 58,914	$ 60,551
Interest bearing deposits in other banks	570,149	375,526
Total cash and cash equivalents	629,063	436,077
Debt securities AFS, at fair value	1,076,639	1,096,292
Debt securities HTM (fair value of $160,021 and $158,781 at December 31, 2023 and 2022, respectively)	180,403	186,168
Equity securities	21,521	19,864
Investment in unconsolidated subsidiaries	1,018	1,018
FHLB and FRB stock	53,699	101,568
Total investments	1,333,280	1,404,910
LHFS	79,072	20,641
LHI, MW	377,796	446,227
LHI, excluding MW	9,206,544	9,036,424
Less: ACL	(109,816)	(91,052)
Total LHI, net	9,474,524	9,391,599
BOLI	84,833	84,496
Premises and equipment, net	105,727	108,824
Intangible assets, net of accumulated amortization	41,753	53,213
Goodwill	404,452	404,452
Other assets	241,633	250,149
Total assets	12,394,337	12,154,361
Deposits:
Noninterest-bearing deposits	2,218,036	2,640,617
Interest-bearing transaction and savings deposits	4,348,385	3,514,729
Certificates and other time deposits	3,191,737	2,086,642
Correspondent money market account	580,037	881,246
Total deposits	10,338,195	9,123,234
Accounts payable and other liabilities	195,036	177,579
Advances from FHLB	100,000	1,175,000
Subordinated debentures and subordinated notes	229,783	228,775
Total liabilities	10,863,014	10,704,588
Stockholders’ equity:
Common stock, $0.01 par value: Authorized shares - 75,000,000 Issued shares - 60,976,462 and 60,668,049 at December 31, 2023 and December 31, 2022, respectively	610	607
APIC	1,317,516	1,306,852
Retained earnings	444,242	379,299
AOCI	(63,463)	(69,403)
Treasury stock, 6,638,094 and 6,638,094 shares at cost at December 31, 2023 and 2022, respectively	(167,582)	(167,582)
Total stockholders’ equity	1,531,323	1,449,773
Total liabilities and stockholders’ equity	$ 12,394,337	$ 12,154,361

SHARE TRANSACTIONS	12 Months Ended
SHARE TRANSACTIONS	Dec. 31, 2023
Equity [Abstract]
SHARE TRANSACTIONS	SHARE TRANSACTIONS The Company's Board authorized the purchase of up to $250,000 of the Company's outstanding common stock under a stock buyback program (the "Stock Buyback Program") with the expiration date of December 31, 2022. The shares were repurchased in the open market or in privately negotiated transactions from time to time, depending upon market conditions and other factors, and in accordance with applicable regulations of the SEC. The Stock Buyback Program does not obligate the Company to purchase any shares. The Stock Buyback Program may have been terminated or amended by the Board at any time prior to its expiration. The Company did not repurchase any shares during the year ended December 31, 2023 or 2022. In August 2022, the IRA was enacted. Among other things, the IRA imposed a new 1% excise tax on the fair market value of stock repurchased after December 31, 2022 by publicly traded U.S. corporations. With certain exceptions, the value of stock repurchased is determined net of stock issued in the year, including pursuant to compensatory arrangements. Common Stock Offering On March 8, 2022, the Company completed an underwritten public offering of 3,947,369 shares of its common stock at $38.00 per share. On March 10, 2022, the representatives of the underwriters delivered to the Company a written notice of exercise by the underwriters of the underwriters' option to purchase an additional 367,105 shares of the Company's common stock at $38.00 per share, which subsequently closed on March 14, 2022. Net proceeds, after deducting underwriting discounts and offering expenses, of such offering were approximately $154,372. The Company intends to use the net proceeds from the offering for general corporate purposes and to support its continued growth, including investments in the Bank and future strategic acquisitions.

OTHER CREDIT EXTENSIONS	12 Months Ended
OTHER CREDIT EXTENSIONS	Dec. 31, 2023
Debt Disclosure [Abstract]
OTHER CREDIT EXTENSIONS	OTHER CREDIT EXTENSIONS As of December 31, 2023 the Company maintained five credit facilities with commercial banks that provided federal funds credit extensions with an availability to borrow up to an aggregate amount of $125,000. As of December 31, 2022, the Company maintained five credit facilities with commercial banks that provide federal funds credit extensions with an availability to borrow up to an aggregate amount of approximately $175,000. There were no borrowings under these credit facilities as of December 31, 2023 and 2022. The FHLB allows us to borrow on a blanket floating lien status collateralized by certain securities and loans. As of December 31, 2023 and 2022, total available borrowing capacity of $2,191,608 and $787,324, respectively, was available under this arrangement with outstanding balances of $100,000 and $1,175,000, respectively, and a weighted average interest rate of 4.70% and 1.73% for the year ended December 31, 2023 and 2022, respectively. The FHLB has also issued standby letters of credit to the Company for $1,377,257 and $1,029,508 as of December 31, 2023 and 2022, respectively. Our current FHLB advances mature within 0.5 years. Other than FHLB borrowings, we had no other short-term borrowings at the dates indicated. The FRB allows us to borrow funds through their discount window or their new BTFP. As of December 31, 2023 and 2022, the Company maintained a secured line of credit with the FRB with an availability to borrow approximately $2,927,549 and $1,138,661, respectively. Approximately $2,143,269 and $1,000,730 of commercial loans were pledged as collateral at December 31, 2023 and 2022, respectively. There were no borrowings under this line of credit as of December 31, 2023 and 2022. In addition, we had available borrowing capacity of $455,361 under the BTFP through the pledging of certain qualifying securities with no outstanding borrowings under this program as of December 31, 2023.

SUPPLEMENTAL STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$ 294,539	$ 77,298	$ 37,139
Cash paid for income taxes	53,584	36,165	14,349
Supplemental Disclosures of Non-Cash Flow Information:
Setup of ROU asset and lease liability	7,492	0	6,232
Contingent consideration in connection with acquisitions	0	0	5,000
Transfer of AFS debt securities to HTM debt securities	0	117,001	0
Net foreclosure of OREO and repossessed assets	0	0	334
LHI transferred to LHFS	10,500	0	10,890
Noncash assets acquired
LHI	0	(681)	29,338
Intangible assets, net	0	0	13,913
Goodwill	0	681	32,931
Other assets	0	0	690
Total assets	0	0	76,872
Noncash liabilities assumed
Accounts payable and other liabilities	0	0	16,350
Total liabilities	$ 0	$ 0	$ 16,350

STOCK AND INCENTIVE PLANS - 2010 Plan - Options (Details) - Non-performance Based Stock Options - 2010 Stock Option and Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares Underlying Options
Outstanding at beginning of period (in shares)	1,000	1,000	20,000
Exercised (in shares)	(1,000)	0	(19,000)
Outstanding at the end of period (in shares)	0	1,000	1,000	20,000
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 10.43	$ 10.43	$ 10.09
Exercised (in dollars per share)	10.43	0	10.00
Outstanding at the end of period (in dollars per share)	$ 0	$ 10.43	$ 10.43	$ 10.09
Weighted Average Remaining Contractual Term
Outstanding at beginning of year, term (in years)	0 years	1 year 25 days	1 year 25 days	1 year 21 days
Exercisable, term (in years)	0 years
Aggregate Intrinsic Value
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 0

FAIR VALUE DISCLOSURES - Non-recurring Basis (Details) - Non-recurring - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Assets:
Collateral dependent loans with an ACL	$ 14,274,000	$ 7,969,000
Servicing assets with a valuation allowance	6,682,000	10,984,000
Collateral dependent loans with an ACL, gross	17,660,000	10,632,000
Impaired loans, specific allowance	3,386,000	2,663,000
Servicing asset at fair value, gross	8,214,000	13,435,000
Valuation allowance for servicing asset	(1,532,000)	(2,451,000)
Liabilities measured at fair value	0	0
Level 1
Assets:
Collateral dependent loans with an ACL	0	0
Servicing assets with a valuation allowance	0	0
Level 2
Assets:
Collateral dependent loans with an ACL	0	0
Servicing assets with a valuation allowance	0	0
Level 3
Assets:
Collateral dependent loans with an ACL	14,274,000	7,969,000
Servicing assets with a valuation allowance	$ 6,682,000	$ 10,984,000

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 27, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36682
Entity Registrant Name	Veritex Holdings, Inc.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	27-0973566
Entity Address, Address Line One	8214 Westchester Drive, Suite 800
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75225
City Area Code	972
Local Phone Number	349 6200
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	VBTX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 945,616,000
Entity Common Stock, Shares Outstanding		54,495,326
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement relating to the 2024 Annual Meeting of Shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2023.
Entity Central Index Key	0001501570
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

INCOME TAXES - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income tax expense (benefit):
Current	$ 38,672	$ 45,981	$ 32,075
Deferred	(2,649)	(5,662)	4,647
Total income tax expense	$ 36,023	$ 40,319	$ 36,722

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Goodwill and Intangible Assets Disclosure [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Impairment charges	$ 0	$ 0	$ 0
Core deposit intangible \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful live	7 years
Core deposit intangible \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful live	10 years

SECURITIES - Narrative (Details)	12 Months Ended
SECURITIES - Narrative (Details)	Dec. 31, 2023 USD ($) Security investment	Dec. 31, 2022 USD ($) Security investment	Dec. 31, 2021 USD ($)	Jan. 01, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Equity securities	$ 9,897,000	$ 9,792,000
Realized gain (loss) on equity securities	0	0	$ 0
Equity securities without a readily determinable fair value	11,624,000	10,072,000
Securities purchased under agreement to resell	0
Interest income, securities purchased under agreements to resell	$ 0	$ 1,386,000
Transfer from AFS to HTM at fair value \| Security	0	25
Aggregate fair value of AFS transferred				$ 117,001,000
Net unrealized holding gain	$ 3,122,000	$ 3,790,000
Number of investment positions in an unrealized loss position \| investment	142	175

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Changes in the Carrying Amount of Goodwill

Changes in the carrying amount of goodwill in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
Balance at beginning of year	$	404,452	$	403,771


NAC acquisition1	—		681

Balance at end of year	$	404,452	$	404,452

1During the first quarter of 2022, the purchased accounting adjustments for NAC were finalized resulting in an increase in goodwill during 2022.

Schedule of Intangible Assets

Intangible assets are initially recognized based on a valuation performed as of the acquisition date and are amortized on a straight-line basis over their estimated useful lives of the respective intangible assets as follows. All in-place lease intangibles were fully amortized in 2023.


Core deposit intangible			7 - 10 years
In-place lease intangible			Lease term

Intangible assets in the accompanying consolidated balance sheets are summarized as follows:


	December 31, 2023
	Remaining
	Weighted	Gross						Net
	Amortization	Intangible		Valuation		Accumulated		Intangible
	Period	Asset		Allowance		Amortization		Asset
Core deposit intangibles	3.0 years	$	81,769	$	—	$	53,274	$	28,495
Servicing asset	7.2 years	26,930		1,532		12,140		13,258
Intangible lease assets	0.0 years	4,779		—		4,779		—
		$	113,478	$	1,532	$	70,193	$	41,753


	December 31, 2022
	Remaining
	Weighted	Gross						Net
	Amortization	Intangible		Valuation		Accumulated		Intangible
	Period	Asset		Allowance		Amortization		Asset
Core deposit intangibles	4.0 years	$	81,769	$	—	$	43,523	$	38,246
Servicing asset	7.4 years	24,760		2,451		7,429		14,880
Intangible lease assets	0.3 years	4,779		—		4,692		87
		$	111,308	$	2,451	$	55,644	$	53,213

Schedule of the Estimated Aggregate Future Amortization Expense for Intangible Assets

The estimated aggregate future amortization expense for intangible assets remaining as of December 31, 2023 was as follows:


Year	Amount
2024	$	11,595
2025	11,259
2026	10,640
2027	2,377
2028	1,844
Thereafter	4,038
	$	41,753

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Investments, Debt and Equity Securities [Abstract]

LEASES - Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Within one year	$ 5,299
After one but within two years	4,610
After two but within three years	3,287
After three but within four years	2,175
After four but within five years	1,978
After five years	5,759
Total undiscounted cash flows	23,108
Less: Discount on cash flows	(2,603)
Total lease liability	$ 20,505	$ 17,327

SIGNIFICANT CONCENTRATIONS OF CREDIT RISK	12 Months Ended
SIGNIFICANT CONCENTRATIONS OF CREDIT RISK	Dec. 31, 2023
Risks and Uncertainties [Abstract]
SIGNIFICANT CONCENTRATIONS OF CREDIT RISK	SIGNIFICANT CONCENTRATIONS OF CREDIT RISK Most of the Company’s business activity is with customers located within the Dallas-Fort Worth metroplex and Houston metropolitan area. Such customers are normally also depositors of the Company. The distribution of commitments to extend credit approximates the distribution of loans outstanding. The Company has a diversified loan portfolio, however a significant portion of the Company's loans are collateralized by real estate. Repayment of these loans is in part dependent upon the economic conditions in the market area. The contractual amounts of credit related financial instruments such as commitments to extend credit, MW commitments, credit card arrangements, and letters of credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer default, and the value of any existing collateral become worthless.

STOCK AND INCENTIVE PLANS - 2019 Amended Plan - Options (Details) - 2022 Equity Plan - Non-performance Based Stock Options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares Underlying Options
Outstanding at beginning of period (in shares)	657,494	710,043	975,801
Granted (in shares)		1,500	500
Canceled (in shares)	(35,970)
Forfeited (in shares)	(1,666)		(13,996)
Exercised (in shares)	(17,285)	(54,049)	(252,262)
Outstanding at the end of period (in shares)	602,573	657,494	710,043	975,801
Options exercisable at end of period (in shares)	591,573
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 24.47	$ 24.38	$ 24.26
Granted (in dollars per share)		31.26	36.54
Forfeited (in dollars per share)	17.38		25.93
Cancelled (in dollars per share)	28.95
Exercised (in dollars per share)	18.29	23.51	23.87
Outstanding at the end of period (in dollars per share)	24.40	$ 24.47	$ 24.38	$ 24.26
Options exercisable at end of period (in dollars per share)	24.45
Weighted average fair value of options granted during the period (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term
Outstanding at beginning of year, term (in years)	4 years 10 months 2 days	5 years 6 months 29 days	6 years 10 months 28 days
Exercisable, term (in years)	4 years 10 months 2 days
Aggregate Intrinsic Value
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 779,874
Options exercisable, intrinsic value	$ 760,974

FAIR VALUE DISCLOSURES - Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
AFS debt securities	$ 1,076,639	$ 1,096,292
Equity securities with a readily determinable fair value	9,897	9,792
Derivative asset, fair value	20,820	36,878
Derivative liability, fair value	48,612	63,997
Derivatives designated as hedging instruments
Assets:
Derivative asset, fair value	18,814	26,523
Derivative liability, fair value	47,121	54,171
Derivatives designated as hedging instruments \| Interest rate swaps
Assets:
Derivative asset, fair value	12,208	21,234
Derivative liability, fair value	0	0
Derivatives not designated as hedging instruments
Assets:
Derivative asset, fair value	31,469	41,337
Derivative liability, fair value	30,954	40,808
Derivatives not designated as hedging instruments \| Interest rate swaps \| Financial institution counterparty
Assets:
Derivative asset, fair value	28,007	38,839
Derivative liability, fair value	2,322	1,126
Derivatives not designated as hedging instruments \| Interest rate swaps \| Commercial customer counterparty
Assets:
Derivative asset, fair value	2,118	1,004
Derivative liability, fair value	27,288	38,188
Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Financial institution counterparty
Assets:
Derivative asset, fair value	1,344	1,494
Derivative liability, fair value	0	0
Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Commercial customer counterparty
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	1,344	1,494
Recurring
Assets:
AFS debt securities	1,076,639	1,096,292
Equity securities with a readily determinable fair value	9,897	9,792
LHFS	67,784	19,775
Recurring \| Derivatives designated as hedging instruments \| Interest rate swaps
Assets:
Derivative asset, fair value	18,814	26,523
Derivative liability, fair value	47,121	54,171
Recurring \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Financial institution counterparty
Assets:
Derivative asset, fair value	28,007	38,839
Derivative liability, fair value	2,322	1,126
Recurring \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Commercial customer counterparty
Assets:
Derivative asset, fair value	2,118	1,004
Derivative liability, fair value	27,288	38,188
Recurring \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Financial institution counterparty
Assets:
Derivative asset, fair value	1,344	1,494
Recurring \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Commercial customer counterparty
Assets:
Derivative liability, fair value	1,344	1,494
Recurring \| Level 1
Assets:
AFS debt securities	0	0
Equity securities with a readily determinable fair value	9,897	9,792
LHFS	0	0
Recurring \| Level 1 \| Derivatives designated as hedging instruments \| Interest rate swaps
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	0	0
Recurring \| Level 1 \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Financial institution counterparty
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	0	0
Recurring \| Level 1 \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Commercial customer counterparty
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	0	0
Recurring \| Level 1 \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Financial institution counterparty
Assets:
Derivative asset, fair value	0	0
Recurring \| Level 1 \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Commercial customer counterparty
Assets:
Derivative liability, fair value	0	0
Recurring \| Level 2
Assets:
AFS debt securities	1,076,639	1,096,292
Equity securities with a readily determinable fair value	0	0
LHFS	67,784	19,775
Recurring \| Level 2 \| Derivatives designated as hedging instruments \| Interest rate swaps
Assets:
Derivative asset, fair value	18,814	26,523
Derivative liability, fair value	47,121	54,171
Recurring \| Level 2 \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Financial institution counterparty
Assets:
Derivative asset, fair value	28,007	38,839
Derivative liability, fair value	2,322	1,126
Recurring \| Level 2 \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Commercial customer counterparty
Assets:
Derivative asset, fair value	2,118	1,004
Derivative liability, fair value	27,288	38,188
Recurring \| Level 2 \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Financial institution counterparty
Assets:
Derivative asset, fair value	1,344	1,494
Recurring \| Level 2 \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Commercial customer counterparty
Assets:
Derivative liability, fair value	1,344	1,494
Recurring \| Level 3
Assets:
AFS debt securities	0	0
Equity securities with a readily determinable fair value	0	0
LHFS	0	0
Recurring \| Level 3 \| Derivatives designated as hedging instruments \| Interest rate swaps
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	0	0
Recurring \| Level 3 \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Financial institution counterparty
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	0	0
Recurring \| Level 3 \| Derivatives not designated as hedging instruments \| Interest rate swaps \| Commercial customer counterparty
Assets:
Derivative asset, fair value	0	0
Derivative liability, fair value	0	0
Recurring \| Level 3 \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Financial institution counterparty
Assets:
Derivative asset, fair value	0	0
Recurring \| Level 3 \| Derivatives not designated as hedging instruments \| Interest rate caps and collars \| Commercial customer counterparty
Assets:
Derivative liability, fair value	$ 0	$ 0

SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Gross Unrealized Gain Recognized on Equity Securities

The gross unrealized gain (loss) recognized on equity securities with readily determinable fair values recorded in other noninterest income in the Company’s consolidated statements of income were as follows:


	2023		2022		2021
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value	$	105	$	(1,246)	$	(325)

Schedule of Carrying Amount and Approximate Fair Values of Available-for-Sale Securities

The amortized cost, related gross unrealized gains and losses, ACL and the fair value of AFS and HTM debt securities are as follows:


	December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		ACL		Fair Value
AFS
Corporate bonds	$	244,652	$	1,034	$	29,566	$	—	$	216,120
Municipal securities	46,631		108		3,258		—		43,481
Mortgage-backed securities	194,486		4,430		13,465		—		185,451
Collateralized mortgage obligations	563,421		4,634		46,999		—		521,056
Asset-backed securities	47,738		1,045		2,130		—		46,653
Collateralized loan obligations	64,250		—		372		—		63,878
	$	1,161,178	$	11,251	$	95,790	$	—	$	1,076,639

			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		ACL		Fair Value
HTM
Mortgage-backed securities	$	33,716	$	—	$	6,037	$	—	$	27,679
Collateralized mortgage obligations	34,483		—		4,567		—		29,916
Municipal securities	112,204		86		9,864		—		102,426
	$	180,403	$	86	$	20,468	$	—	$	160,021


	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		ACL		Fair Value
AFS

Corporate bonds	$	268,179	$	1,445	$	17,379	$	—	$	252,245
Municipal securities	49,886		3		4,198		—		45,691
Mortgage-backed securities	156,408		23		17,420		—		139,011
Collateralized mortgage obligations	609,456		—		55,850		—		553,606
Asset-backed securities	42,015		289		2,613		—		39,691
Collateralized loan obligations	69,750		—		3,702		—		66,048
	$	1,195,694	$	1,760	$	101,162	$	—	$	1,096,292

			Gross		Gross
	Amortized		Unrealized		Unrealized
HTM	Cost		Gains		Losses		ACL		Fair Value
Mortgage-backed securities	$	36,342	$	—	$	6,753	$	—	$	29,589
Collateralized mortgage obligations	36,169		—		5,884		—		30,285
Municipal securities	113,657		6		14,756		—		98,907
	$	186,168	$	6	$	27,393	$	—	$	158,781

Schedule of Investment Securities That Have Been in a Continuous Unrealized Loss Position

The following tables disclose the Company’s debt securities in an unrealized loss position for which an ACL has not been recorded, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:


	December 31, 2023
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
AFS

Corporate bonds	$	34,989	$	5,970	$	162,148	$	23,596	$	197,137	$	29,566
Municipal securities	6,792		45		22,052		3,213		28,844		3,258
Mortgage-backed securities	—		—		104,486		13,465		104,486		13,465
Collateralized mortgage obligations	—		—		419,044		46,999		419,044		46,999
Asset-backed securities	9,011		1,559		8,847		571		17,858		2,130
Collateralized loan obligations	—		—		63,878		372		63,878		372
	$	50,792	$	7,574	$	780,455	$	88,216	$	831,247	$	95,790

HTM
Mortgage-backed securities	$	—	$	—	$	27,679	$	6,037	$	27,679	$	6,037
Collateralized mortgage obligations	—		—		29,916		4,567		29,916		4,567
Municipal securities	7,845		270		79,713		9,594		87,558		9,864
	$	7,845	$	270	$	137,308	$	20,198	$	145,153	$	20,468


	December 31, 2022
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
AFS

Corporate bonds	$	197,946	$	15,697	$	15,568	$	1,682	$	213,514	$	17,379
Municipal securities	33,919		848		8,813		3,350		42,732		4,198
Mortgage-backed securities	115,467		11,104		22,780		6,317		138,247		17,421
Collateralized mortgage obligations	482,358		42,553		71,198		13,296		553,556		55,849
Asset-backed securities	15,195		991		11,207		1,621		26,402		2,612
Collateralized loan obligations	23,673		1,328		42,375		2,375		66,048		3,703
	$	868,558	$	72,521	$	171,941	$	28,641	$	1,040,499	$	101,162

HTM
Mortgage-backed securities	$	804	$	85	$	28,784	$	6,668	$	29,588	$	6,753
Collateralized mortgage obligations	25,285		4,676		4,999		1,208		30,284		5,884
Municipal securities	85,671		11,411		9,161		3,345		94,832		14,756
	$	111,760	$	16,172	$	42,944	$	11,221	$	154,704	$	27,393

Schedule of Amortized Costs and Estimated Fair Values of Securities Available for Sale, By Contractual Maturity

Therefore, these securities are not included in the maturity categories below.


	December 31, 2023
	AFS				HTM
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year or less	$	2,018	$	1,906	$	—	$	—
Due from one year to five years	46,645		46,682		4,445		4,448
Due from five years to ten years	188,526		163,397		12,806		12,628
Due after ten years	54,094		47,616		94,953		85,350
	291,283		259,601		112,204		102,426
Mortgage-backed securities and collateralized mortgage obligations	757,907		706,507		68,199		57,595
Asset-backed securities	47,738		46,653		—		—
Collateralized loan obligations	64,250		63,878		—		—
	$	1,161,178	$	1,076,639	$	180,403	$	160,021


	December 31, 2022
	AFS				HTM
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value

Due from one year to five years	$	53,692	$	54,179	$	—	$	—
Due from five years to ten years	205,911		190,406		8,275		8,129
Due after ten years	58,462		53,351		105,382		90,778
	318,065		297,936		113,657		98,907
Mortgage-backed securities and collateralized mortgage obligations	765,864		692,617		72,511		59,874
Asset-backed securities	42,015		39,691		—		—
Collateralized loan obligations	69,750		66,048		—		—
	$	1,195,694	$	1,096,292	$	186,168	$	158,781

Schedule of Proceeds From Sales of Debt Securities Available for Sale and Gross Gains and Losses

Proceeds from sales of debt securities AFS and gross realized gains and losses for the years ended December 31, 2023, 2022 and 2021 were as follows:


	December 31,
	2023		2022		2021
Proceeds from sales	$	109,793	$	—	$	13,300
Gross realized gains	—		—		—
Gross realized losses	5,321		—		188

PARENT COMPANY ONLY FINANCIAL STATEMENTS - Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Income Statements, Captions [Line Items]
Other	$ 5,934	$ 4,720	$ 3,237
Total interest and dividend income	726,874	449,410	316,484
Salaries and employee benefits	122,070	117,841	94,748
Other	27,245	18,314	15,149
Total noninterest expense	233,464	203,075	167,712
Income before income tax expense	144,284	186,634	176,306
Income tax expense	36,023	40,319	36,722
NET INCOME	108,261	146,315	139,584
Veritex Holdings, Inc.
Condensed Income Statements, Captions [Line Items]
Excess of earnings over dividend from subsidiary	59,647	121,350	142,289
Other	79	43	43
Total interest and dividend income	119,726	156,393	150,772
Interest on borrowings	12,352	11,156	12,426
Salaries and employee benefits	770	685	668
Other	1,364	891	1,057
Total noninterest expense	14,486	12,732	14,151
Income before income tax expense	105,240	143,661	136,621
Income tax expense	(3,021)	(2,654)	(2,963)
NET INCOME	108,261	146,315	139,584
Veritex Holdings, Inc. \| Investment, Affiliated Issuer
Condensed Income Statements, Captions [Line Items]
Cash dividends from subsidiary	$ 60,000	$ 35,000	$ 8,440

ADVANCES FROM FHLB (Tables)

12 Months Ended

Dec. 31, 2023

Advance from Federal Home Loan Bank [Abstract]

Schedule of Contractual Maturities of FHLB Advances

Contractual maturities of FHLB advances at December 31, 2023 were as follows:


2024	$	100,000





Total	$	100,000

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
ACL	$ 25,449,000	$ 21,647,000
Equity compensation	4,669,000	4,286,000
Purchase premium/loan discounts	984,000	1,546,000
Lease liability	4,428,000	3,708,000
Net unrealized loss on debt securities AFS	16,870,000	17,204,000
Purchased securities	1,836,000	2,520,000
Investment in Thrive	5,156,000	0
Other	5,567,000	9,219,000
Total gross deferred tax assets	64,959,000	60,130,000
Valuation allowance on Thrive impairment	(4,249,000)	0
Total net deferred tax assets	60,710,000	60,130,000
Deferred tax liabilities:
Intangibles	8,089,000	9,340,000
Bank premises and equipment	5,326,000	6,163,000
ROU asset	4,169,000	3,587,000
Other	2,885,000	3,214,000
Total deferred tax liabilities	20,469,000	22,304,000
Net deferred tax asset	$ 40,241,000	$ 37,826,000

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
NET INCOME	$ 108,261	$ 146,315	$ 139,584

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Schedule of Components of Provision for Income Taxes

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

The provision for income taxes is summarized as follows:


	Year Ended December 31,
	2023		2022		2021
Income tax expense (benefit):
Current	$	38,672	$	45,981	$	32,075
Deferred	(2,649)		(5,662)		4,647
Total income tax expense	$	36,023	$	40,319	$	36,722

Schedule of Effective Income Tax Rate Reconciliation


	Year Ended December 31,
	2023			2022			2021
Federal income tax expense rate at 21% for December 31, 2023, 2022 and 2021	$	30,300		$	39,193		$	37,024
Bank-owned life insurance	(663)			(448)			(852)
Non-deductible transaction costs	—			—			78
Tax exempt interest income	(899)			(579)			(545)

Deferred tax true up	4			54			24
162(m) Disallowance	512			1,183			504
State taxes, net of federal benefit	1,510			1,769			1,039
Excess benefit on share-based compensation	340			(1,056)			(838)
Valuation allowance on Thrive impairment	4,249			—			—

Other	670			203			288
Total income tax expense	$	36,023		$	40,319		$	36,722
Effective tax rate	25.0		%	21.6		%	20.8		%

Schedule of Significant Components of the Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:


	December 31,
	2023		2022
Deferred tax assets:

ACL	$	25,449	$	21,647
Equity compensation	4,669		4,286
Purchase premium/loan discounts	984		1,546

Lease liability	4,428		3,708
Net unrealized loss on debt securities AFS	16,870		17,204
Purchased securities	1,836		2,520
Investment in Thrive	5,156		—
Other	5,567		9,219
Total gross deferred tax assets	$	64,959	$	60,130
Valuation allowance on Thrive impairment	(4,249)		—
Total net deferred tax assets	$	60,710	$	60,130
Deferred tax liabilities:
Intangibles	8,089		9,340
Bank premises and equipment	5,326		6,163
ROU asset	4,169		3,587

Other	2,885		3,214
Total deferred tax liabilities	20,469		22,304
Net deferred tax asset	$	40,241	$	37,826

Schedule of Unrecognized Tax Benefits Roll Forward

The following table provides a rollforward of the Company's gross federal and state unrecognized tax benefits for the years ending December 31, 2023, 2022 and 2021.


	December 31
	2023		2022		2021
Unrecognized tax benefits at the beginning of the year:	$	293	$	503	$	549
Gross increases, related to tax positions taken in a prior period	278		—		—
Gross decreases, related to tax positions taken in a prior period	—		(44)		(101)
Gross increases, related to tax positions taken in current period	133		75		55
Settlement with taxing authority	—		(241)		—
Expiration of statute of limitations	(25)		—		—
Unrecognized tax benefits at the end of the year	$	679	$	293	$	503

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Gain on Sale of Guaranteed Portion of SBA Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gain (loss) on sale of government guaranteed loans	$ 15,565	$ 12,988	$ 6,194
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Guaranteed portion of SBA loans, percent	0.50
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Guaranteed portion of SBA loans, percent	0.90

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

Operating leases in which the Company is the lessee are recorded as operating lease ROU assets and operating lease liabilities, included in other assets and accounts payable and other liabilities, respectively, on the Company’s consolidated balance sheets. The Company does not currently have finance leases in which it is the lessee.

Operating lease ROU assets represent the Company’s right to use an underlying asset during the lease term and operating liabilities represent its obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. ROU assets are further adjusted for lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in net occupancy and equipment expense in the consolidated statements of income.

The Company’s leases related primarily to office space and bank branches with remaining lease terms generally ranging from one to nine years. Certain lease arrangements contain extension options which typically range from five to 10 years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As of December 31, 2023, operating lease ROU assets and liabilities were $19,308 and $20,505, respectively. As of December 31, 2022, operating lease ROU assets and liabilities were $16,762 and $17,327,

respectively, and is recorded in other assets and accounts payable and accrued expenses, respectively, in the consolidated balance sheets.

The table below summarizes the Company’s net lease cost:


	For the Year Ended December 31,
	2023		2022
Operating lease cost	$	5,432	$	5,161

Variable lease cost	989		640
Net lease cost	$	6,421	$	5,801

The table below summarizes other information related to the Company’s operating leases:


	For the Year Ended December 31,
	2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,130		$	4,781
Weighted-average remaining lease term - operating leases, in years	6.2 years			5.4 years
Weighted-average discount rate - operating leases	3.26		%	2.88		%

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:


	December 31, 2023
Lease payments due:
Within one year	$	5,299
After one but within two years	4,610
After two but within three years	3,287
After three but within four years	2,175
After four but within five years	1,978
After five years	5,759
Total undiscounted cash flows	23,108
Less: Discount on cash flows	(2,603)
Total lease liability	$	20,505

There were no sale and leaseback transactions, leveraged leases or lease transactions with related parties during the years ended December 31, 2023 and 2022. As of December 31, 2023, the Company did not have any leases that had not yet commenced, but will create significant rights and obligations for the Company.

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In the ordinary course of business, the Company has and expects to continue to have transactions, including borrowings, with its employees, officers, directors and their affiliates. These loans are on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. The aggregate amounts of such loans were approximately $30,132 and $35,005 as of December 31, 2023 and 2022, respectively. During the year ended December 31, 2023, new advances of approximately $6,648 were made to related parties with approximately $11,521 principal payments received. During the year ended December 31, 2022, new advances of approximately $33,624 were made to related parties with approximately $11,270 principal payments received. There were $9,062 and $7,895 in unfunded commitments to related parties as of December 31, 2023 and 2022, respectively. At December 31, 2023, there were no loans to employees, officers, directors or their affiliates that were considered non-performing or potentially problem loans. Deposits received from related parties as of December 31, 2023 and 2022 totaled approximately $349,567 and $275,807, respectively.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Investments, Debt and Equity Securities [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

LHI and ACL - Narrative (Details)	12 Months Ended
LHI and ACL - Narrative (Details)	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 loan
Receivables [Abstract]
Financing receivable, modified, subsequent default \| $	$ 0
Financing receivable, modifications, number of contracts \| loan	0	0

STOCK AND INCENTIVE PLANS - 2019 Amended Plan - Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
2022 Equity Plan \| RSUs
Activity in shares
Nonvested at the beginning of the period (in shares)	955,104	598,051	441,132
Granted (in shares)	293,086	546,405	281,149
Vested into shares (in shares)	(269,144)	(175,159)	(108,732)
Forfeited (in shares)	(30,533)	(14,193)	(15,498)
Nonvested at the end of the period (in shares)	948,513	955,104	598,051
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 28.38	$ 23.39	$ 20.39
Granted (in dollars per share)	27.17	33.79	28.68
Vested into shares (in dollars per share)	29.68	27.88	24.19
Forfeited (in dollars per share)	32.23	33.18	28.47
Nonvested at the end of the period (in dollars per share)	$ 27.52	$ 28.38	$ 23.39
2022 Equity Plan \| PSUs
Activity in shares
Nonvested at the beginning of the period (in shares)	126,707	156,471	100,195
Granted (in shares)	53,310	39,429	56,276
Vested into shares (in shares)	(41,781)	(103,387)
Nonvested at the end of the period (in shares)	129,768	126,707	156,471
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 31.19	$ 24.17	$ 23.20
Granted (in dollars per share)	27.55	40.38	25.94
Vested into shares (in dollars per share)	26.42
Nonvested at the end of the period (in dollars per share)	$ 30.28	$ 31.19	$ 24.17
Omnibus Plan \| PSUs
Activity in shares
Forfeited (in shares)	(8,468)
Weighted Average Grant Date Fair Value
Forfeited (in dollars per share)	$ 30.90

STOCK AND INCENTIVE PLANS - Green Bancorp Inc. 2010 and 2006 Option Plan (Details) - Green Bancorp Inc. 2010 Stock Option Plan - Non-performance Based Stock Options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares Underlying Options
Outstanding at beginning of period (in shares)	43,162	66,143	131,083
Forfeited (in shares)			(2,198)
Cancelled (in shares)		(21,235)
Exercised (in shares)	(32,378)	(1,746)	(62,742)
Outstanding at the end of period (in shares)	10,784	43,162	66,143
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 13.11	$ 12.56	$ 11.60
Forfeited (in dollars per share)
Cancelled (in dollars per share)		11
Exercised (in dollars per share)	13.26	13.20	10.51
Outstanding at the end of period (in dollars per share)	$ 12.65	$ 13.11	$ 12.56
Outstanding at beginning of year, term (in years)	4 years 21 days
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 115

SECURITIES

12 Months Ended

Dec. 31, 2023

SECURITIES

Equity Securities With a Readily Determinable Fair Value

The Company held equity securities with a fair value of $9,897 and $9,792 at December 31, 2023 and 2022, respectively. No gains or losses on equity securities with a readily determinable fair value were realized during the year ended December 31, 2023, 2022 or 2021.


	2023		2022		2021
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value	$	105	$	(1,246)	$	(325)

Equity Securities Without a Readily Determinable Fair Value

The Company held equity securities without a readily determinable fair values and measured at cost of $11,624 and $10,072 at December 31, 2023 and 2022, respectively.

Securities purchased under agreements to resell

The Company held no securities purchased under agreements to resell as of December 31, 2023 and 2022. During the twelve months ended December 31, 2023, there was no interest income recorded in equity securities and other investments in the Company’s consolidated statements of income. During the twelve months ended December 31, 2022, interest income recorded in equity securities and other investments in the Company's consolidated statements of income was $1,386. Interest income of securities purchased under agreements to resell typically mature 30 days from the settlement date, qualify as a secured borrowing and are measured at amortized cost.

Debt Securities

Debt securities have been classified in the consolidated balance sheets according to management’s intent. The amortized cost, related gross unrealized gains and losses, ACL and the fair value of AFS and HTM debt securities are as follows:


	December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		ACL		Fair Value
AFS
Corporate bonds	$	244,652	$	1,034	$	29,566	$	—	$	216,120
Municipal securities	46,631		108		3,258		—		43,481
Mortgage-backed securities	194,486		4,430		13,465		—		185,451
Collateralized mortgage obligations	563,421		4,634		46,999		—		521,056
Asset-backed securities	47,738		1,045		2,130		—		46,653
Collateralized loan obligations	64,250		—		372		—		63,878
	$	1,161,178	$	11,251	$	95,790	$	—	$	1,076,639

			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		ACL		Fair Value
HTM
Mortgage-backed securities	$	33,716	$	—	$	6,037	$	—	$	27,679
Collateralized mortgage obligations	34,483		—		4,567		—		29,916
Municipal securities	112,204		86		9,864		—		102,426
	$	180,403	$	86	$	20,468	$	—	$	160,021


	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		ACL		Fair Value
AFS

Corporate bonds	$	268,179	$	1,445	$	17,379	$	—	$	252,245
Municipal securities	49,886		3		4,198		—		45,691
Mortgage-backed securities	156,408		23		17,420		—		139,011
Collateralized mortgage obligations	609,456		—		55,850		—		553,606
Asset-backed securities	42,015		289		2,613		—		39,691
Collateralized loan obligations	69,750		—		3,702		—		66,048
	$	1,195,694	$	1,760	$	101,162	$	—	$	1,096,292

			Gross		Gross
	Amortized		Unrealized		Unrealized
HTM	Cost		Gains		Losses		ACL		Fair Value
Mortgage-backed securities	$	36,342	$	—	$	6,753	$	—	$	29,589
Collateralized mortgage obligations	36,169		—		5,884		—		30,285
Municipal securities	113,657		6		14,756		—		98,907
	$	186,168	$	6	$	27,393	$	—	$	158,781

The Company did not transfer any debt securities from AFS to HTM at fair value during the year ended December 31, 2023. For the year ended December 31, 2022, the Company elected to transfer 25 AFS debt securities with an aggregate fair

value of $117,001 to a classification of HTM debt securities on January 1, 2022. In accordance with FASB ASC 320-10-35-10, the transfer from AFS to HTM must be recorded at the fair value of the AFS debt securities at the time of transfer. The net unrealized holding gain retained in AOCI for securities transferred from AFS to HTM was $3,122 and $3,790 at December 31, 2023 and December 31, 2022, respectively.


	December 31, 2023
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
AFS

Corporate bonds	$	34,989	$	5,970	$	162,148	$	23,596	$	197,137	$	29,566
Municipal securities	6,792		45		22,052		3,213		28,844		3,258
Mortgage-backed securities	—		—		104,486		13,465		104,486		13,465
Collateralized mortgage obligations	—		—		419,044		46,999		419,044		46,999
Asset-backed securities	9,011		1,559		8,847		571		17,858		2,130
Collateralized loan obligations	—		—		63,878		372		63,878		372
	$	50,792	$	7,574	$	780,455	$	88,216	$	831,247	$	95,790

HTM
Mortgage-backed securities	$	—	$	—	$	27,679	$	6,037	$	27,679	$	6,037
Collateralized mortgage obligations	—		—		29,916		4,567		29,916		4,567
Municipal securities	7,845		270		79,713		9,594		87,558		9,864
	$	7,845	$	270	$	137,308	$	20,198	$	145,153	$	20,468


	December 31, 2022
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
AFS

Corporate bonds	$	197,946	$	15,697	$	15,568	$	1,682	$	213,514	$	17,379
Municipal securities	33,919		848		8,813		3,350		42,732		4,198
Mortgage-backed securities	115,467		11,104		22,780		6,317		138,247		17,421
Collateralized mortgage obligations	482,358		42,553		71,198		13,296		553,556		55,849
Asset-backed securities	15,195		991		11,207		1,621		26,402		2,612
Collateralized loan obligations	23,673		1,328		42,375		2,375		66,048		3,703
	$	868,558	$	72,521	$	171,941	$	28,641	$	1,040,499	$	101,162

HTM
Mortgage-backed securities	$	804	$	85	$	28,784	$	6,668	$	29,588	$	6,753
Collateralized mortgage obligations	25,285		4,676		4,999		1,208		30,284		5,884
Municipal securities	85,671		11,411		9,161		3,345		94,832		14,756
	$	111,760	$	16,172	$	42,944	$	11,221	$	154,704	$	27,393

Management evaluates AFS debt securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to (1) the extent to which the fair value is less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

The number of AFS debt securities in an unrealized loss position totaled 142 and 175 at December 31, 2023 and December 31, 2022, respectively. Management does not have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, as of December 31, 2023, management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, including changes in interest rates and other market conditions, and therefore no losses have been recognized in the Company’s consolidated statements of income.

The amortized costs and estimated fair values of debt securities, by contractual maturity, as of the dates indicated, are shown in the table below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities, collateralized mortgage obligations and asset-backed securities typically are issued with stated principal amounts, and the securities are backed by pools of mortgage loans and other loans that have varying maturities. The terms of mortgage-backed securities, collateralized mortgage obligations and asset-backed securities thus approximates the terms of the underlying mortgages and loans and can vary significantly due to prepayments. Therefore, these securities are not included in the maturity categories below.


	December 31, 2023
	AFS				HTM
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year or less	$	2,018	$	1,906	$	—	$	—
Due from one year to five years	46,645		46,682		4,445		4,448
Due from five years to ten years	188,526		163,397		12,806		12,628
Due after ten years	54,094		47,616		94,953		85,350
	291,283		259,601		112,204		102,426
Mortgage-backed securities and collateralized mortgage obligations	757,907		706,507		68,199		57,595
Asset-backed securities	47,738		46,653		—		—
Collateralized loan obligations	64,250		63,878		—		—
	$	1,161,178	$	1,076,639	$	180,403	$	160,021


	December 31, 2022
	AFS				HTM
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value

Due from one year to five years	$	53,692	$	54,179	$	—	$	—
Due from five years to ten years	205,911		190,406		8,275		8,129
Due after ten years	58,462		53,351		105,382		90,778
	318,065		297,936		113,657		98,907
Mortgage-backed securities and collateralized mortgage obligations	765,864		692,617		72,511		59,874
Asset-backed securities	42,015		39,691		—		—
Collateralized loan obligations	69,750		66,048		—		—
	$	1,195,694	$	1,096,292	$	186,168	$	158,781

Proceeds from sales of debt securities AFS and gross realized gains and losses for the years ended December 31, 2023, 2022 and 2021 were as follows:


	December 31,
	2023		2022		2021
Proceeds from sales	$	109,793	$	—	$	13,300
Gross realized gains	—		—		—
Gross realized losses	5,321		—		188

As of December 31, 2023 and December 31, 2022, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders' equity. As further explained in Note 11, Advances from the FHLB, there was a blanket floating lien on all debt securities to secure FHLB advances as of December 31, 2023 and December 31, 2022.

SECURITIES - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Available For Sale Amortized Cost
Due in one year or less	$ 2,018
Due from one year to five years	46,645	$ 53,692
Due from five years to ten years	188,526	205,911
Due after ten years	54,094	58,462
Total investment securities available for sale, single maturity date	291,283	318,065
Amortized cost	1,161,178	1,195,694
Available For Sale Fair value
Due in one year or less	1,906
Due from one year to five years	46,682	54,179
Due from five years to ten years	163,397	190,406
Due after ten years	47,616	53,351
Total investment securities available for sale	259,601	297,936
Fair value	1,076,639	1,096,292
Held-to-Maturity Amortized Cost
Due in one year or less	0
Due from one year to five years	4,445	0
Due from five years to ten years	12,806	8,275
Due after ten years	94,953	105,382
Total investment securities held to maturity, single maturity date	112,204	113,657
Amortized cost	180,403	186,168
Held-to-Maturity Fair Value
Due in one year or less	0
Due from one year to five years	4,448	0
Due from five years to ten years	12,628	8,129
Due after ten years	85,350	90,778
Total investment securities held to maturity	102,426	98,907
Fair value	160,021	158,781
Mortgage-backed securities and collateralized mortgage obligations
Available For Sale Amortized Cost
Amortized cost	757,907	765,864
Amortized cost	194,486	156,408
Available For Sale Fair value
Fair value	706,507	692,617
Fair value	185,451	139,011
Held-to-Maturity Amortized Cost
Amortized cost	68,199	72,511
Amortized cost	33,716	36,342
Held-to-Maturity Fair Value
Fair value	57,595	59,874
Asset-backed securities
Available For Sale Amortized Cost
Amortized cost	47,738	42,015
Amortized cost	47,738	42,015
Available For Sale Fair value
Fair value	46,653	39,691
Fair value	46,653	39,691
Held-to-Maturity Amortized Cost
Amortized cost	0	0
Held-to-Maturity Fair Value
Fair value	0	0
Collateralized loan obligations
Available For Sale Amortized Cost
Amortized cost	64,250	69,750
Amortized cost	64,250	69,750
Available For Sale Fair value
Fair value	63,878	66,048
Fair value	63,878	66,048
Held-to-Maturity Amortized Cost
Amortized cost	0	0
Held-to-Maturity Fair Value
Fair value	$ 0	$ 0

FAIR VALUE DISCLOSURES

12 Months Ended

Dec. 31, 2023

FAIR VALUE DISCLOSURES

The authoritative guidance for fair value measurements defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact.

The authoritative guidance requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, the authoritative guidance establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

Level 1 Inputs. Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs. Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 investments consist primarily of obligations of U.S. government agencies, corporate bonds, municipal securities, mortgage-backed securities, collateralized mortgage obligations and asset-backed securities.

Level 3 Inputs. Significant unobservable inputs that reflect an entity’s own assumptions that market participants would use in pricing the assets or liabilities.

In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below.

Assets and liabilities measured at fair value on a recurring basis include the following:

AFS Debt Securities: Debt securities classified as AFS are reported at fair value utilizing Level 2 inputs. For those debt securities classified as Level 2, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U. S. Treasury yield curve, live+ trading levels, trade execution data for similar securities, market consensus prepayments speeds, credit information and the bond’s terms and conditions, among other things.

Equity Security With a Readily Determinable Fair Value: This investment represents our CRA security which is reported at fair value utilizing a Level 1 input which includes a quoted price in an active market for the identical asset.

LHFS: The fair value of government guaranteed loans held-for-sale is based on commitments from investors or prevailing market prices.

Derivative Financial Instruments: The fair value of correspondent interest rate swaps, customer interest rate swaps, correspondent interest rate caps and collars, customer interest rate caps and collars, and commercial loan interest rate floors are derived from pricing models based on past, present and projected future market conditions, quoted market prices of instruments with similar characteristics or discounted cash flows, classified in Level 2 of the fair value hierarchy.


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
Financial Assets:
AFS debt securities	$	—	$	1,076,639	$	—	$	1,076,639
Equity securities with a readily determinable fair value	9,897		—		—		9,897
LHFS(1)	—		67,784		—		67,784
Interest rate swaps designated as hedging instruments	—		18,814		—		18,814
Correspondent interest rate swaps not designated as hedging instruments	—		28,007		—		28,007
Customer interest rate swaps not designated as hedging instruments	—		2,118		—		2,118

Correspondent interest rate caps and collars not designated as hedging instruments	—		1,344		—		1,344
Financial Liabilities:
Interest rate swaps designated as hedging instruments	$	—	$	47,121	$	—	$	47,121
Correspondent interest rate swaps not designated as hedging instruments	—		2,322		—		2,322
Customer interest rate swaps not designated as hedging instruments	—		27,288		—		27,288
Customer interest rate caps and collars not designated as hedging instruments	—		1,344		—		1,344

(1) Represents LHFS elected to be carried at fair value upon origination or acquisition.


	December 31, 2022
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
Financial Assets:
AFS debt securities	$	—	$	1,096,292	$	—	$	1,096,292
Equity securities with a readily determinable fair value	9,792		—		—		9,792
LHFS(1)	—		19,775		—		19,775
Interest rate swaps designated as hedging instruments	—		26,523		—		26,523
Correspondent interest rate swaps not designated as hedging instruments	—		38,839		—		38,839
Customer interest rate swaps not designated as hedging instruments	—		1,004		—		1,004

Correspondent interest rate caps and collars not designated as hedging instruments	—		1,494		—		1,494
Financial Liabilities:

Interest rate swaps designated as hedging instruments	—		54,171		—		54,171
Correspondent interest rate swaps not designated as hedging instruments	—		1,126		—		1,126
Customer interest rate swaps not designated as hedging instruments	—		38,188		—		38,188
Customer interest rate caps and collars not designated as hedging instruments	—		1,494		—		1,494

(1) Represents LHFS elected to be carried at fair value upon origination or acquisition.

There were no transfers between Level 2 and Level 3 during the years ended December 31, 2023 and 2022.

Certain assets, including collateral dependent loans with an ACL and servicing asset with a valuation allowance are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment).

Collateral Dependent Loans with an ACL: A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The ACL is measured by estimating the fair value of the loan's underlying collateral. For real estate loans, fair value of the loan’s collateral is determined by third-party appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. Appraisals for collateral dependent loans with an ACL are performed by certified general appraisers whose qualifications and licenses have been reviewed and verified by the Company. Once reviewed, a member of the credit department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparisons to independent data sources such as recent market data or industry wide-statistics. On a periodic basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustments, if any, should be made to the appraisal value to arrive at fair value.

Servicing Assets with a Valuation Allowance: The fair value of the servicing asset is estimated using discounted cash flows based on current market interest rates. A valuation allowance is recorded when the fair value is below the carrying amount of the asset.


	Fair Value
	Measurements Using
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
As of December 31, 2023
Assets:
Collateral dependent loans with an ACL	$	—	$	—	$	14,274	$	14,274
Servicing assets with a valuation allowance	—		—		6,682		6,682


As of December 31, 2022
Assets:
Collateral dependent loans with an ACL	$	—	$	—	$	7,969	$	7,969
Servicing assets with a valuation allowance	—		—		10,984		10,984

At December 31, 2023, collateral dependent loans with an ACL had a recorded investment of $17,660, with $3,386 specific allowance for credit loss allocated. At December 31, 2022, collateral dependent loans with an ACL had a recorded investment of $10,632, with $2,663 specific allowance for credit loss allocated.

At December 31, 2023, servicing assets of $8,214 had a valuation allowance totaling $1,532. At December 31, 2022, servicing assets of $13,435 had a valuation allowance totaling $2,451.

There were no liabilities measured at fair value on a non-recurring basis as of December 31, 2023 and 2022.

Fair Value of Financial Instruments

The Company is required under current authoritative guidance to disclose the estimated fair value of its financial instrument assets and liabilities, including those subject to the requirements discussed above. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments, as defined in such guidance. Many of the Company’s financial instruments, however, lack an available trading market as characterized by a willing buyer and willing seller engaging in an exchange transaction.

The estimated fair value amounts of financial instruments have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret data to develop an estimate of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or valuation methodologies may have a material effect on the estimated fair value amounts. In addition, reasonable comparability between financial institutions may not be likely due to the wide range of permitted valuation techniques and numerous estimates that must be made given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies also introduces a greater degree of subjectivity to these estimated fair values.

The methods and assumptions used by the Company in estimating fair values of financial instruments as disclosed herein in accordance with ASC Topic 825, Financial Instruments, other than for those measured at fair value on a recurring and nonrecurring basis discussed above, are as follows:

Cash and cash equivalents: The carrying amount of cash and cash equivalents approximates their fair value.

HTM debt securities: The fair values of these debt securities is determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities' relationship to other benchmark quoted securities (Level 2 inputs).

LHFS: LHFS, including mortgage loans, which are carried at the lower of cost or estimated fair value. The fair value for the mortgage loans approximate their carrying value and these loans are considered Level 2 financial assets.

LHI: The fair value of LHI, excluding previously presented collateral dependent loans with an ACL measured at fair value on a non-recurring basis, is estimated using a discounted cash flow analysis. The discount rates used to determine fair value use interest rate spreads that reflect factors such as liquidity, credit, and prepayment risk of the loans. Loans are considered a Level 3 financial asset.

Accrued interest receivable: The carrying amounts of accrued interest approximate their fair values due to short-term maturity.

BOLI: The carrying amounts of bank-owned life insurance policies approximate their fair value.

Servicing Asset: Fair value is estimated by discounting estimated future cash flows from the servicing assets using discount rates that approximate current market rates over the expected lives of the loans being serviced. A valuation allowance is recorded when the fair value is below the carrying amount of the asset.

Equity securities without a readily determinable fair value: Certain equity securities are carried at cost as these securities did not have a readily determinable fair value. There were no observable price changes in orderly transactions for the identical or a similar investment of the same issuer as of December 31, 2023 and 2022.

FHLB and FRB stock: FHLB and FRB stock are carried at cost basis due to restrictions placed on the transferability of these investments. As a result, the fair value of these investments was not practicable to determine.

Deposits: The fair values disclosed for demand deposits are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). The carrying amounts of variable-rate certificates of deposit (“CDs”) approximate their fair values at the reporting date. Fair values for fixed-rate CDs are estimated using a discounted cash flow calculation that applies interest rates currently being offered on CDs to a schedule of aggregated expected monthly maturities on time deposits.

Advances from FHLB: The fair value of advances maturing within 90 days approximates carrying value. Fair value of other advances is based on the Company’s current borrowing rate for similar arrangements.

Subordinated debentures and subordinated notes: The fair values are based upon prevailing rates on similar debt in the marketplace.

Off-balance sheet instruments: Commitments to extend credit and standby letters of credit are generally priced at market at the time of funding and were not material to the Company’s consolidated financial statements.


			Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
December 31, 2023
Financial assets:
Cash and cash equivalents	$	629,063	$	—	$	629,063	$	—
HTM debt securities	180,403		—		160,021		—

LHFS(1)	11,288		—		11,288		—
LHI(2)	9,577,180		—		—		9,322,744
Accrued interest receivable	53,313		—		53,313		—
BOLI	84,833		—		84,833		—
Servicing asset	6,576		—		6,576		—
Equity securities without a readily determinable fair value	11,624		N/A		N/A		N/A
FHLB and FRB stock	53,699		N/A		N/A		N/A
Financial liabilities:
Deposits	$	10,338,195	$	—	$	9,779,849	$	—
Advances from FHLB	100,000		—		141,999		—
Accrued interest payable	41,948		—		41,948		—
Subordinated debentures and subordinated notes	229,783		—		229,783		—


December 31, 2022
Financial assets:
Cash and cash equivalents	$	436,077	$	—	$	436,077	$	—
HTM debt securities	186,168		—		158,781		—

LHFS(1)	866		—		866		—
LHI(2)	9,399,614		—		—		9,163,616
Accrued interest receivable	44,035		—		44,035		—
BOLI	84,496		—		84,496		—
Servicing asset	3,896		—		3,896		—
Equity securities without readily determinable fair value	10,072		N/A		N/A		N/A
FHLB and FRB stock	101,568		N/A		N/A		N/A
Financial liabilities:
Deposits	$	9,123,234	$	—	$	8,341,419	$	—
Advances from FHLB	1,175,000		—		1,156,852		—
Accrued interest payable	8,795		—		8,795		—
Subordinated debentures and subordinated notes	228,775		—		228,775		—

(1) LHFS primarily represent commercial loans moved to held for sale or mortgage LHFS that are carried at lower of cost or market.

(2) LHI includes MW and is carried at amortized cost.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value Option (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair value, option, change in fair value of government guaranteed loans and PPP loans	$ (4,417)	$ (1,072)	$ 1,845

INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Taxes payable, current	$ 34,000	$ 573,000
Valuation allowance on Thrive impairment	(4,249,000)	0
Other Assets
Operating Loss Carryforwards [Line Items]
Current tax receivable	19,131,000	1,741,000
Deferred tax asset	$ 40,241,000	$ 37,826,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Estimated Lives of the Respective Assets


Buildings and improvements			10 - 40 years
Site improvements			15 years
Tenant improvements			Lease term
Leasehold improvements			Lease term
Furniture and equipment			3 - 10 years

Schedule of Intangible Assets


Core deposit intangible			7 - 10 years
In-place lease intangible			Lease term

Intangible assets in the accompanying consolidated balance sheets are summarized as follows:


	December 31, 2023
	Remaining
	Weighted	Gross						Net
	Amortization	Intangible		Valuation		Accumulated		Intangible
	Period	Asset		Allowance		Amortization		Asset
Core deposit intangibles	3.0 years	$	81,769	$	—	$	53,274	$	28,495
Servicing asset	7.2 years	26,930		1,532		12,140		13,258
Intangible lease assets	0.0 years	4,779		—		4,779		—
		$	113,478	$	1,532	$	70,193	$	41,753


	December 31, 2022
	Remaining
	Weighted	Gross						Net
	Amortization	Intangible		Valuation		Accumulated		Intangible
	Period	Asset		Allowance		Amortization		Asset
Core deposit intangibles	4.0 years	$	81,769	$	—	$	43,523	$	38,246
Servicing asset	7.4 years	24,760		2,451		7,429		14,880
Intangible lease assets	0.3 years	4,779		—		4,692		87
		$	111,308	$	2,451	$	55,644	$	53,213

Schedule of Reconciliation Between Weighted Average Shares Used for Calculating Basic and Diluted EPS

The table below sets forth the reconciliation between weighted average shares used for calculating basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021.


	Year Ended December 31,
	2023		2022		2021
Earnings (numerator)


Net income	$	108,261	$	146,315	$	139,584
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)	54,256		53,170		49,405
Dilutive effect of employee stock-based awards	340		782		947
Adjusted weighted average shares outstanding	$	54,596	$	53,952	$	50,352
EPS:
Basic	$	2.00	$	2.75	$	2.83
Diluted	$	1.98	$	2.71	$	2.77

ADVANCES FROM FHLB - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Advances from FHLB	$ 100,000	$ 1,175,000
Availability to borrow additional funds	$ 2,191,608
Weighted Average
Debt Instrument [Line Items]
Advances from federal home loan bank, weighted average rate	5.54%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Statistical Disclosure for Banks [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)		12 Months Ended
	Feb. 24, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2023	Oct. 31, 2023	Feb. 28, 2023	Oct. 31, 2022	Aug. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 3,833,144,000	$ 2,922,362,000
Pre-tax gain from termination of derivative		0	0	$ (43,900,000)
Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		1,475,000,000	1,175,000,000
Derivatives designated as hedging instruments \| Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 250,000,000	250,000,000		$ 100,000	$ 100,000				$ 125,000
Pre-tax gain from termination of derivative	$ 43,900,000
Accretion period (in years)		10 years
Accretion into income		$ 4,386,000
Derivatives designated as hedging instruments \| Interest rate floor
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		200,000,000	100,000,000				$ 100,000	$ 100,000
Derivatives designated as hedging instruments \| Interest rate collar
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 450,000,000	$ 450,000,000					$ 100,000	$ 350,000
Derivatives designated as hedging instruments \| Forecasted Issuances of Three-month Term Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount											$ 500,000
Derivatives designated as hedging instruments \| Forecasted Money Market Account Borrowings
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount											$ 250,000

DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule Summarized of the Deposits

Deposits in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
Noninterest-bearing demand accounts	$	2,218,036	$	2,640,617
Interest-bearing demand accounts	927,193		622,814
Savings accounts	136,868		118,293
Limited access money market accounts	3,864,361		3,654,868
Certificates of deposit, greater than $250	1,312,744		853,659
Certificates of deposit, less than $250	1,878,993		1,232,983
Total	$	10,338,195	$	9,123,234

Scheduled Maturities of Certificate of Deposits

As of December 31, 2023, the scheduled maturities of certificates of deposit were as follows:


Year	Amount
2024	$	2,854,476
2025	322,311
2026	7,532
2027	3,638
2028	3,780

Total	$	3,191,737

SUPPLEMENTAL STATEMENT OF CASH FLOWS (Tables)

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Schedule of Other Supplemental Cash Flow Information

Other supplemental cash flow information is presented below:


	Year Ended December 31,
	2023		2022		2021
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	294,539	$	77,298	$	37,139
Cash paid for income taxes	53,584		36,165		14,349
Supplemental Disclosures of Non-Cash Flow Information:

Setup of ROU asset and lease liability	$	7,492	$	—	$	6,232

Contingent consideration in connection with acquisitions	—		—		5,000





Transfer of AFS debt securities to HTM debt securities	—		117,001		—
Net foreclosure of OREO and repossessed assets	—		—		334
LHI transferred to LHFS	10,500		—		10,890

Schedule of Supplemental Noncash Investing Activities


	Adjustments to Purchase Price Accounting Related to M&A
	Year Ended December 31,
	2023		2022		2021
Noncash assets acquired1




LHI	$	—	$	(681)	$	29,338





Intangible assets, net	—		—		13,913
Goodwill	—		681		32,931
Other assets	—		—		690




Total assets	$	—	$	—	$	76,872
Noncash liabilities assumed1



Accounts payable and other liabilities	—		—		16,350






Total liabilities	$	—	$	—	$	16,350


Total equity

1 Noncash assets acquired and noncash liabilities assumed during 2021 related to our acquisition of NAC.

OFF-BALANCE SHEET LOAN COMMITMENTS - Financial Instruments Approximate Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial instruments with off-balance sheet risk
Total commitments	$ 3,998,795	$ 5,698,408
Commitments to extend credit
Financial instruments with off-balance sheet risk
Total commitments	3,083,501	4,511,671
MW commitments
Financial instruments with off-balance sheet risk
Total commitments	803,704	1,088,558
Standby and commercial letters of credit
Financial instruments with off-balance sheet risk
Total commitments	$ 111,590	$ 98,179

LHI AND ACL - Balance Sheet Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2020
Loans and Allowance for Loan Losses
Real Property	$ 9,501,624	$ 9,593,125
Deferred loan fees, net	(18,973)	(8,785)
ACL	(91,052)	(109,816)	$ (77,754)	$ (105,084)
Total LHI, net	9,391,599	9,474,524
Contractual principal balance	8,260	5,334
Discount on retained loans from sale	5,238	7,629
Real Estate \| Construction and Land
Loans and Allowance for Loan Losses
Real Property	1,787,400	1,734,254
ACL	(13,120)	(21,032)	(7,293)	(7,768)
Real Estate \| Farmland
Loans and Allowance for Loan Losses
Real Property	43,500	31,114
ACL	(127)	(101)	(187)	(56)
Real Estate \| Residential Real Estate
Loans and Allowance for Loan Losses
Purchase of real estate loans	223,924
Financing receivable, before allowance for credit loss		162,632
Discount on retained loans from sale	4,135	3,231
Real Estate \| Residential Real Estate \| 1 - 4 family residential
Loans and Allowance for Loan Losses
Real Property	894,456	937,119
ACL	(9,533)	(9,539)	(5,982)	(8,148)
Real Estate \| Residential Real Estate \| Multi-family residential
Loans and Allowance for Loan Losses
Real Property	322,679	605,817
ACL	(2,607)	(4,882)	(2,664)	(6,231)
Real Estate \| Commercial Real Estate \| OOCRE
Loans and Allowance for Loan Losses
Real Property	715,829	794,088
ACL	(8,707)	(10,252)	(9,215)	(9,719)
Real Estate \| Commercial Real Estate \| NOOCRE
Loans and Allowance for Loan Losses
Real Property	2,341,379	2,350,725
ACL	(26,704)	(27,729)	(30,548)	(35,237)
Commercial
Loans and Allowance for Loan Losses
Real Property	2,942,348	2,752,063
ACL	(30,142)	(35,886)	(21,632)	(37,554)
Mortgage warehouse
Loans and Allowance for Loan Losses
Real Property	446,227	377,796
Consumer
Loans and Allowance for Loan Losses
Real Property	7,806	10,149
ACL	$ (112)	$ (135)	$ (233)	$ (371)

LHI and ACL - Loans Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans and Allowance for Loan Losses
Total LHFS	$ 79,072	$ 20,641
SBA/USDA construction and land
Loans and Allowance for Loan Losses
Total LHFS	41,492	12,296
1 - 4 family residential
Loans and Allowance for Loan Losses
Total LHFS	788	866
SBA/USDA OOCRE
Loans and Allowance for Loan Losses
Total LHFS	16,758	5,915
NOOCRE
Loans and Allowance for Loan Losses
Total LHFS	10,500	0
SBA/USDA commercial
Loans and Allowance for Loan Losses
Total LHFS	$ 9,534	$ 1,564

PARENT COMPANY ONLY FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 629,063	$ 436,077
Investment in unconsolidated subsidiaries	1,018	1,018
Other assets	241,633	250,149
Total assets	12,394,337	12,154,361
LIABILITIES AND STOCKHOLDERS’ EQUITY
Total liabilities	10,863,014	10,704,588
Stockholders’ equity:
Common stock	610	607
Additional paid-in capital	1,317,516	1,306,852
Retained earnings	444,242	379,299
Accumulated other comprehensive income	(63,463)	(69,403)
Total stockholders’ equity	1,531,323	1,449,773	$ 1,315,079	$ 1,203,376
Total liabilities and stockholders’ equity	12,394,337	12,154,361
Veritex Holdings, Inc.
ASSETS
Cash and cash equivalents	25,728	18,278
Investment in unconsolidated subsidiaries	1,728,364	1,650,727
Other assets	17,088	13,043
Total assets	1,771,180	1,682,048
LIABILITIES AND STOCKHOLDERS’ EQUITY
Other liabilities	10,074	3,500
Other borrowings	229,783	228,775
Total liabilities	239,857	232,275
Stockholders’ equity:
Common stock	610	607
Additional paid-in capital	1,317,516	1,306,852
Retained earnings	444,242	379,299
Accumulated other comprehensive income	(63,463)	(69,403)
Treasury stock	(167,582)	(167,582)
Total stockholders’ equity	1,531,323	1,449,773
Total liabilities and stockholders’ equity	$ 1,771,180	$ 1,682,048

DERIVATIVE FINANCIAL INSTRUMENTS - AOCI Reclassification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net (loss) gain recognized in other comprehensive income on derivative	$ (7,744)	$ (41,499)
Gain (loss) reclassified from accumulated other comprehensive income into income	(3,012)	5,020
Interest rate swap on borrowing advances \| Interest Expense \| Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net (loss) gain recognized in other comprehensive income on derivative	(4,386)	(3,569)
Gain (loss) reclassified from accumulated other comprehensive income into income	4,386	3,569
Interest rate swaps on money market deposit account and funding source payments \| Interest Expense \| Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net (loss) gain recognized in other comprehensive income on derivative	(13,322)	16,693
Gain (loss) reclassified from accumulated other comprehensive income into income	11,798	3,208
Interest rate swaps, collars and floor on customer loan interest payments \| Interest Income \| Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net (loss) gain recognized in other comprehensive income on derivative	9,964	(54,623)
Gain (loss) reclassified from accumulated other comprehensive income into income	(19,196)	(1,757)
Interest rate caps and collars \| Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net Gain recognized in other noninterest income	$ 1,633	$ 7,217

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings (numerator)
Net income	$ 108,261	$ 146,315	$ 139,584
Shares (denominator)
Weighted average shares outstanding for basic EPS (in shares)	54,256,000	53,170,000	49,405,000
Dilutive effect of employee stock-based awards (in shares)	340,000	782,000	947,000
Adjusted weighted average shares outstanding (in shares)	54,596,000	53,952,000	50,352,000
EPS:
Basic (in dollars per share)	$ 2.00	$ 2.75	$ 2.83
Diluted (in dollars per share)	$ 1.98	$ 2.71	$ 2.77
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from diluted EPS weighted average shares (in shares)	1,268,000	177	29
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from diluted EPS weighted average shares (in shares)	604,000
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from diluted EPS weighted average shares (in shares)	664,000

NEW ACCOUNTING PRONOUNCEMENTS	12 Months Ended
NEW ACCOUNTING PRONOUNCEMENTS	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS ASU 2023-06, “Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. ASU 2023-06 is not expected to have a significant impact on our financial statements. ASU 2023-07, “Segment Reporting - Improvement to Reportable Segment Disclosures” amends the disclosure requirements related to segment reporting primarily through enhanced disclosure about significant segment expenses and by requiring disclosure of segment information on an annual and interim basis. ASU 2023-07 is effective January 1, 2024 and is not expected to have a significant impact on our financial statements. ASU 2023-09, “Income Taxes - Improvements to Income Tax Disclosures” enhances the transparency and decision usefulness of income tax disclosures. ASU 2023-09 will require disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. Entities will also be required to disclose income/(loss) from continuing operations before income tax expense/(benefit) disaggregated between domestic and foreign, as well as income tax expense/(benefit) from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 is effective January 1, 2025 and is not expected to have a significant impact on our financial statements.

SUBORDINATED DEBENTURES AND SUBORDINATED NOTES - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Subordinated debentures and subordinated notes	$ 229,783	$ 228,775
Junior Subordinated Debt
Debt Instrument [Line Items]
Subordinated debentures and subordinated notes	30,908	30,686
Unamortized discount (premium), net	2,960	3,182
Subordinated Debt
Debt Instrument [Line Items]
Subordinated debentures and subordinated notes	198,875	198,089
Debt issuance costs, net	$ 1,125	$ 1,911

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

GOODWILL AND INTANGIBLE ASSETS - Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance at beginning of year
Balance at beginning of year	$ 404,452	$ 403,771
NAC acquisition	0	681
Balance at end of year	$ 404,452	$ 404,452

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Advance from Federal Home Loan Bank [Abstract]

ADVANCES FROM FHLB

12 Months Ended

Dec. 31, 2023

ADVANCES FROM FHLB

Advances from the FHLB totaled $100,000 and $1,175,000 at December 31, 2023 and 2022, respectively. As of December 31, 2023, the advances were collateralized by a blanket floating lien on certain debt securities and loans, had a weighted average rate of 5.54% and maturity dates of 2024. The Company had the availability to borrow additional funds of approximately $2,191,608 as of December 31, 2023.

Contractual maturities of FHLB advances at December 31, 2023 were as follows:


2024	$	100,000





Total	$	100,000

STOCK AND INCENTIVE PLANS - Stock Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
2022 Equity Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	$ 10,200	$ 11,109
Veritex (Green) 2014 Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	$ 1,850	$ 820

INCOME TAXES - Reconciliation of Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal income tax expense rate at 21% for December 31, 2023, 2022 and 2021	$ 30,300	$ 39,193	$ 37,024
Bank-owned life insurance	(663)	(448)	(852)
Non-deductible transaction costs	0	0	78
Tax exempt interest income	(899)	(579)	(545)
Deferred tax true up	4	54	24
162(m) Disallowance	512	1,183	504
State taxes, net of federal benefit	1,510	1,769	1,039
Excess benefit on share-based compensation	340	(1,056)	(838)
Valuation allowance on Thrive impairment	4,249	0	0
Other	670	203	288
Total income tax expense	$ 36,023	$ 40,319	$ 36,722
Effective tax rate	25.00%	21.60%	20.80%

SUBORDINATED DEBENTURES AND SUBORDINATED NOTES

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

SUBORDINATED DEBENTURES AND SUBORDINATED NOTES

Borrowed funds in the accompanying consolidated balance sheets are as follows:


	December 31,
	2023		2022
Junior subordinated debentures (1)	$	30,908	$	30,686
Subordinated notes (2)	198,875		198,089
	$	229,783	$	228,775

(1) Junior subordinated debentures are net of a discount of $2,960 and $3,182 as of December 31, 2023 and 2022, respectively.

(2) Subordinated notes include debt issuance costs of $1,125 and $1,911 as of December 31, 2023 and 2022, respectively.

Junior Subordinated Debentures

In connection with a previous acquisition, the Company assumed $3,093 in fixed to floating rate junior subordinated debentures underlying common securities and preferred capital securities (the “Parkway Trust Securities”), issued by Parkway National Capital Trust I (“Parkway Trust”), a statutory business trust and acquired wholly owned subsidiary of the Company. The Company became a guarantor and, as such, unconditionally guaranteed payment of accrued and unpaid distributions required to be paid on the Parkway Trust Securities subject to certain exceptions, the redemption price when a capital security is called for redemption and amounts due if Parkway Trust is liquidated or terminated.

The Company owns all of the outstanding common securities of the Parkway Trust. The Parkway Trust used the proceeds from the issuance of the Parkway Trust Securities to buy the debentures originally issued by Fidelity Resource Company. These debentures are the Parkway Trust’s only assets and the interest payments from the debentures finance the distributions paid on the Parkway Trust Securities.

The Parkway Trust Securities pay cumulative cash distributions quarterly at a rate per annum equal to the 3-month SOFR plus 1.85%. So long as no event of default leading to an acceleration event has occurred, the Company has the right at any time and from time to time during the term of the debentures to defer payments of interest by extending the interest distribution period for up to twenty consecutive quarterly periods. The effective rate as of December 31, 2023 and 2022 was 7.50% and 6.62%, respectively. The Parkway Trust Securities are subject to mandatory redemption, in whole or in part, upon repayment of the debentures at the stated maturity in the year 2036 or their earlier redemption, in each case at a redemption price equal to the aggregate liquidation preference of the Parkway Trust Securities plus any accumulated and unpaid distributions thereon to the date of redemption. Prior redemption is permitted under certain circumstances.

In connection with the acquisition of Sovereign on August 1, 2017, the Company assumed $8,609 in floating rate junior subordinated debentures underlying common securities and preferred capital securities (the “SovDallas Trust Securities”), issued by SovDallas Capital Trust I (“SovDallas Trust”), a statutory business trust and wholly-owned subsidiary of the Company. The Company became a guarantor and, as such, unconditionally guaranteed payment of accrued and unpaid distributions required to be paid on the SovDallas Trust Securities subject to certain exceptions, the redemption price when a capital security is called for redemption and amounts due if SovDallas Trust is liquidated or terminated. The Company also owns all of the outstanding common securities of the SovDallas Trust.

The SovDallas Trust invested the total proceeds from the sale of the SovDallas Trust Securities and the investment in common shares in floating rate junior subordinated debentures originally issued by Sovereign. Interest on the SovDallas Trust Securities is payable quarterly at a rate equal to 3-month SOFR plus 4.00%. Principal payments are due at maturity in July 2038. The effective rate as of December 31, 2023 and 2022 was 9.66% and 7.74%. The SovDallas Trust Securities are guaranteed by the Company and are subject to redemption. The Company may redeem the debt securities, in whole or in part, at any time at an amount equal to the principal amount of the debt securities being redeemed plus any accrued and unpaid interest.

In connection with the acquisition of Green on January 1, 2019, the Company assumed $5,155 in floating rate junior subordinated debentures underlying common securities and preferred capital securities (the “Patriot I Trust Securities”), issued by Patriot I Capital Trust I (“Patriot I Trust”), a statutory business trust and wholly-owned subsidiary of the Company. The Company became a guarantor and, as such, unconditionally guaranteed payment of accrued and unpaid distributions required to be paid on the Patriot I Trust Securities subject to certain exceptions, the redemption price when a capital security is called for redemption and amounts due if Patriot I Trust is liquidated or terminated. The Company also owns all of the outstanding common securities of the Patriot I Trust.

The Patriot I Trust invested the total proceeds from the sale of the Patriot I Trust Securities and the investment in common shares in floating rate junior subordinated debentures originally issued by Green. Interest on the Patriot I Trust Securities is payable quarterly at a rate equal to 3-month SOFR plus 1.85%. Principal payments are due at maturity in April 2036. The effective rate as of December 31, 2023 and 2022 was 7.51% and 5.93%. The Patriot I Trust Securities are guaranteed by the Company and are subject to redemption. The Company may redeem the debt securities, in whole or in part, at any time at an amount equal to the principal amount of the debt securities being redeemed plus any accrued and unpaid interest.

In connection with the acquisition of Green on January 1, 2019, the Company assumed $17,011 in floating rate junior subordinated debentures underlying common securities and preferred capital securities (the “Patriot II Trust Securities”), issued by Patriot II Capital Trust I (“Patriot II Trust”), a statutory business trust and wholly-owned subsidiary of the Company. The Company became a guarantor and, as such, unconditionally guaranteed payment of accrued and unpaid distributions required to be paid on the Patriot II Trust Securities subject to certain exceptions, the redemption price when a capital security is called for redemption and amounts due if Patriot II Trust is liquidated or terminated. The Company also owns all of the outstanding common securities of the Patriot II Trust.

The Patriot II Trust invested the total proceeds from the sale of the Patriot II Trust Securities and the investment in common shares in floating rate junior subordinated debentures originally issued by Sovereign. Interest on the Patriot II Trust Securities is payable quarterly at a rate equal to 3-month SOFR plus 1.80%. Principal payments are due at maturity in September 2037. The effective rate as of December 31, 2023 and 2022 was 7.45% and 6.57%. The Patriot II Trust Securities are guaranteed by the Company and are subject to redemption. The Company may redeem the debt securities, in whole or in part, at any time at an amount equal to the principal amount of the debt securities being redeemed plus any accrued and unpaid interest.

The Parkway Trust Securities, SovDallas Trust Securities, Patriot I Trust Securities and Patriot II Trust Securities qualify as Tier 1 capital, subject to regulatory limitations, under guidelines established by the Federal Reserve.

Subordinated Notes

On November 8, 2019, the Company issued $75,000 in aggregate principal amount of 4.75% Fixed-to-Floating Rate Subordinated Notes (the "2019 Notes"). The 2019 Notes were issued in a private placement transaction to certain qualified institutional buyers and accredited and were registered under the Securities Act effective February 13, 2020. The 2019 Notes were issued under an indenture for Fixed-to-Floating Rate Subordinated Notes dated November 8, 2019, between Veritex Holdings, Inc., as issuer, and UMB Bank, N.A., as trustee. The Company may elect to redeem the 2019 Notes (subject to regulatory approval), in whole or in part, on any early redemption date which is any interest payment date on or after November 15, 2024 at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest. The 2019 Notes, which qualify as Tier 2 capital under the Federal Reserve's capital guidelines, have an interest rate of 4.75% per annum during the fixed rate period from date of issuance through November 15, 2024. Interest is payable semi-annually on each May 15 and November 15 through November 15, 2024. The interest rate on the notes will vary beginning November 15, 2024, at a floating rate equal to the secured overnight financing rate, as determined quarterly on the determination date for the applicable interest period, plus 347 basis points.

On October 5, 2020, the Company completed the issuance and sale of $125,000 in aggregate principal amount of its 4.125% Fixed-to-Floating Rate Subordinated Debt due in 2030 (the “2020 Notes”). The 2020 Notes will bear interest: (i) from and including the date of issuance to, but excluding, October 15, 2025, at a rate of 4.125% per year and (ii) from and including October 15, 2025 to, but excluding, the maturity date (unless redeemed prior to such date), at a floating rate per year equal to the Benchmark (which is expected to be Three-Month Term Secured Overnight Funding Rate) plus 399.5 basis points. The Company has the right, subject to certain circumstances and the receipt of any required approval of the Federal Reserve Board, to redeem the 2020 Notes at the Company’s option, in whole or in part, on any interest payment date on or after October 15, 2025. The Company intends to use the net proceeds from the offering of 2020 Notes for general corporate purposes, including the potential repayment of outstanding indebtedness, and supporting capital levels of the Bank.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1E
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Summary of Lease Costs and Other Information

DEPOSITS - Summary of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statistical Disclosure for Banks [Abstract]
Noninterest-bearing demand accounts	$ 2,218,036	$ 2,640,617
Interest-bearing demand accounts	927,193	622,814
Savings accounts	136,868	118,293
Limited access money market accounts	3,864,361	3,654,868
Certificates of deposit, greater than $250	1,312,744	853,659
Certificates of deposit, less than $250	1,878,993	1,232,983
Total deposits	$ 10,338,195	$ 9,123,234

SECURITIES - Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
AFS Fair Value
Less than 12 months	$ 50,792	$ 868,558
12 months or more	780,455	171,941
Totals	831,247	1,040,499
AFS Unrealized Loss
Less than 12 months	7,574	72,521
12 months or more	88,216	28,641
Totals	95,790	101,162
HTM Fair Value
Less than 12 months	7,845	111,760
12 months or more	137,308	42,944
Totals	145,153	154,704
HTM Unrealized Loss
Less than 12 months	270	16,172
12 months or more	20,198	11,221
Totals	20,468	27,393
Corporate bonds
AFS Fair Value
Less than 12 months	34,989	33,919
12 months or more	162,148	8,813
Totals	197,137	42,732
AFS Unrealized Loss
Less than 12 months	5,970	848
12 months or more	23,596	3,350
Totals	29,566	4,198
Municipal securities
AFS Fair Value
Less than 12 months	6,792	197,946
12 months or more	22,052	15,568
Totals	28,844	213,514
AFS Unrealized Loss
Less than 12 months	45	15,697
12 months or more	3,213	1,682
Totals	3,258	17,379
HTM Fair Value
Less than 12 months	7,845	85,671
12 months or more	79,713	9,161
Totals	87,558	94,832
HTM Unrealized Loss
Less than 12 months	270	11,411
12 months or more	9,594	3,345
Totals	9,864	14,756
Mortgage-backed securities
AFS Fair Value
Less than 12 months	0	115,467
12 months or more	104,486	22,780
Totals	104,486	138,247
AFS Unrealized Loss
Less than 12 months	0	11,104
12 months or more	13,465	6,317
Totals	13,465	17,421
HTM Fair Value
Less than 12 months	0	804
12 months or more	27,679	28,784
Totals	27,679	29,588
HTM Unrealized Loss
Less than 12 months	0	85
12 months or more	6,037	6,668
Totals	6,037	6,753
Collateralized mortgage obligations
AFS Fair Value
Less than 12 months	0	482,358
12 months or more	419,044	71,198
Totals	419,044	553,556
AFS Unrealized Loss
Less than 12 months	0	42,553
12 months or more	46,999	13,296
Totals	46,999	55,849
HTM Fair Value
Less than 12 months	0	25,285
12 months or more	29,916	4,999
Totals	29,916	30,284
HTM Unrealized Loss
Less than 12 months	0	4,676
12 months or more	4,567	1,208
Totals	4,567	5,884
Asset-backed securities
AFS Fair Value
Less than 12 months	9,011	15,195
12 months or more	8,847	11,207
Totals	17,858	26,402
AFS Unrealized Loss
Less than 12 months	1,559	991
12 months or more	571	1,621
Totals	2,130	2,612
Collateralized loan obligations
AFS Fair Value
Less than 12 months	0	23,673
12 months or more	63,878	42,375
Totals	63,878	66,048
AFS Unrealized Loss
Less than 12 months	0	1,328
12 months or more	372	2,375
Totals	$ 372	$ 3,703

LHI AND ACL - Nonaccrual (Details) - USD ($) $ in Thousands	12 Months Ended
LHI AND ACL - Nonaccrual (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans and Allowance for Loan Losses
Nonaccrual	$ 92,848	$ 43,542
Nonaccrual With No ACL	62,364	25,275
Financing receivable, nonaccrual, interest income	6,470	6,567
Commercial
Loans and Allowance for Loan Losses
Nonaccrual	40,868	11,397
Nonaccrual With No ACL	10,610	2,521
Consumer
Loans and Allowance for Loan Losses
Nonaccrual	24	169
Nonaccrual With No ACL	24	169
Construction and Land \| Real Estate
Loans and Allowance for Loan Losses
Nonaccrual	6,793	0
Nonaccrual With No ACL	6,793	0
1 - 4 family residential \| Residential Real Estate \| Real Estate
Loans and Allowance for Loan Losses
Nonaccrual	1,965	862
Nonaccrual With No ACL	1,965	862
OOCRE \| Commercial Real Estate \| Real Estate
Loans and Allowance for Loan Losses
Nonaccrual	9,719	9,737
Nonaccrual With No ACL	9,493	8,545
NOOCRE \| Commercial Real Estate \| Real Estate
Loans and Allowance for Loan Losses
Nonaccrual	33,479	21,377
Nonaccrual With No ACL	33,479	13,178
PCD Loans
Loans and Allowance for Loan Losses
Nonaccrual With No ACL	$ 13,715	$ 13,178

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

The table below summarizes the Company’s net lease cost:


	For the Year Ended December 31,
	2023		2022
Operating lease cost	$	5,432	$	5,161

Variable lease cost	989		640
Net lease cost	$	6,421	$	5,801

The table below summarizes other information related to the Company’s operating leases:


	For the Year Ended December 31,
	2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,130		$	4,781
Weighted-average remaining lease term - operating leases, in years	6.2 years			5.4 years
Weighted-average discount rate - operating leases	3.26		%	2.88		%

Summary of Remaining Lease Liabilities

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:


	December 31, 2023
Lease payments due:
Within one year	$	5,299
After one but within two years	4,610
After two but within three years	3,287
After three but within four years	2,175
After four but within five years	1,978
After five years	5,759
Total undiscounted cash flows	23,108
Less: Discount on cash flows	(2,603)
Total lease liability	$	20,505

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Organization

In this report, the words, "Veritex," "the Company," "we," "us," and "our" refer to the combined entities of Veritex Holdings, Inc. and its subsidiaries, including Veritex Community Bank. The word "Holdco" refers to Veritex Holdings, Inc.. The words "the Bank" refers to Veritex Community Bank.

Veritex is a Texas state banking organization, with corporate offices in Dallas, Texas, and currently operates 18 branches located in the Dallas-Fort Worth metroplex and 11 branches in the Houston metropolitan area. The Bank provides a full range of banking services to individual and corporate customers, which include commercial and retail lending, and the acceptance of checking and savings deposits. The TDB and the Board of Governors of the Federal Reserve are the primary regulators of the Company and the Bank, and both regulatory agencies perform periodic examinations to ensure regulatory compliance.

The accounting principles followed by the Company and the methods of applying them are in conformity with U.S. GAAP and prevailing practices of the banking industry. Intercompany transactions and balances are eliminated in consolidation.

ASC

Segment Reporting

Reclassifications

Certain items in the Company's prior year financial statements were reclassified to conform to the current presentation.

Use of Estimates

Cash and Cash Equivalents

Cash and cash equivalents include amounts due from banks, interest-bearing deposits in other banks and federal funds sold.

Debt Securities

Transfers of debt securities from AFS to HTM

Equity Securities

ACL – AFS Debt Securities

ACL – HTM Debt Securities

FHLB and FRB Stock

LHFS

Fair Value Option

Gain on Sale of Guaranteed Portion of SBA and USDA Loans

Gain on Sale of Mortgage LHFS

Certain mortgage LHFS are sold with servicing released. Gains and losses on sales of mortgage LHFS are based on the difference between the selling price and the carrying value of the loan sold.

LHI

ACL - Loans

The ACL is a valuation account that is deducted from the LHI amortized cost basis to present the net amount expected to be collected on LHI.

The Company has identified the following pools of financial assets with similar risk characteristics for measuring expected credit losses:

Real Estate — This category of loans consists of the following loan types:

Farmland — These loans are principally loans to purchase farmland.

Consumer — This category of loans is used for personal use typically for consumer purposes.

Collateral Dependent Financial Assets

Modifications to Borrowers Experiencing Financial Difficulty

Contractual Term

Discounted Cash Flow Method

Loss-Rate Method

Probability of Default/Loss Given Default Method

Loan Commitments and ACL on Off-Balance Sheet Credit Exposures

Derivative Financial Instruments (Not Designated as Accounting Hedges)

Derivative Financial Instruments (Designated as Accounting Hedges)

Transfers of Financial Assets

Equity Method Investments

Bank Premises and Equipment


Buildings and improvements			10 - 40 years
Site improvements			15 years
Tenant improvements			Lease term
Leasehold improvements			Lease term
Furniture and equipment			3 - 10 years

Leases

Securities Sold Under Agreements to Repurchase

OREO

BOLI

Goodwill and Intangible Assets


Core deposit intangible			7 - 10 years
In-place lease intangible			Lease term

All indefinite lived intangible assets are tested annually for potential impairment or when triggering events occur. Intangible assets with definite lives are tested for impairment when a triggering event occurs. No impairment charges related to goodwill and intangible assets were recorded during the years ended December 31, 2023, 2022 and 2021.

Servicing Assets

Marketing Expense

The Company expenses all marketing costs as they are incurred. Marketing expenses were $8,704, $7,179 and $5,344 in 2023, 2022 and 2021, respectively.

Income Taxes

The Company files a consolidated income tax return with its subsidiaries. Federal income tax expense or benefit is allocated on a separate return basis.

Fair Values of Financial Instruments

Revenue from Contracts with Customers

Stock Based Compensation

Treasury Stock

Treasury stock is stated at cost, which is determined by the first-in, first-out method.

Comprehensive Income

Earnings Per Share ("EPS")

EPS are based upon the weighted-average number of shares outstanding. The table below sets forth the reconciliation between weighted average shares used for calculating basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021.


	Year Ended December 31,
	2023		2022		2021
Earnings (numerator)


Net income	$	108,261	$	146,315	$	139,584
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)	54,256		53,170		49,405
Dilutive effect of employee stock-based awards	340		782		947
Adjusted weighted average shares outstanding	$	54,596	$	53,952	$	50,352
EPS:
Basic	$	2.00	$	2.75	$	2.83
Diluted	$	1.98	$	2.71	$	2.77

For the year ended December 31, 2023, there were 1,268 antidilutive shares excluded from the diluted EPS weighted average shares, 604 of these relate to antidilutive RSUs and the remaining 664 relate to stock options excluded from the diluted EPS weighted average shares. For the year ended December 31, 2022, there were 177 antidilutive RSUs excluded from the diluted EPS weighted average shares. For the year ended December 31, 2021, there were 29 antidilutive RSUs excluded from the diluted EPS weighted average shares.

STOCK AND INCENTIVE PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

A summary of the status of options granted under the 2010 Incentive Plan at December 31, 2023, 2022 and 2021 and changes during the years then ended is presented below:


	2010 Incentive Plan
	Nonperformance-based stock options
	Shares Underlying Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2020	20,000	$	10.09	1.06 years



Exercised	(19,000)	10.00
Outstanding at December 31, 2021	1,000	$	10.43	1.07 years



Exercised	—	—
Outstanding at December 31, 2022	1,000	$	10.43	1.07 years



Exercised	(1,000)	10.43
Outstanding and exercisable at December 31, 2023	—	$	—	0.00 years	$	—

A summary of the status of the Company’s stock options under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021, and changes during the years then ended, is as follows:


	2022 Equity Plan
	Nonperformance-based stock options
	Equity Awards
	Shares Underlying Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2020	975,801	$	24.26
Granted	500	36.54
Forfeited	(13,996)	25.93

Exercised	(252,262)	23.87
Outstanding at December 31, 2021	710,043	$	24.38	6.91 years
Granted	1,500	$	31.26



Exercised	(54,049)	23.51
Outstanding at December 31, 2022	657,494	$	24.47	5.58 years


Forfeited	(1,666)	17.38
Canceled	(35,970)	28.95
Exercised	(17,285)	18.29
Outstanding at December 31, 2023	602,573	$	24.40	4.84 years	$	779,874
Options exercisable at December 31, 2023	591,573	$	24.45	4.84 years	$	760,974
Weighted average fair value of options granted during the period		$	—

A summary of the status of the Company’s stock options under the Veritex (Green) 2014 Plan as of December 31, 2023, 2022 and 2021 changes during the years then ended is as follows:


	Veritex (Green) 2014 Plan
	Non-performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2020	352,000	$	19.99

Forfeited	(7,245)	21.38

Exercised	(126,951)	20.55
Outstanding at December 31, 2021	217,804	$	19.62	6.13 years

Exercised	(62,592)	19.59
Outstanding at December 31, 2022	155,212	$	19.83	5.20 years
Cancelled	(9,717)	21.38
Exercised	(20,996)	20.95
Outstanding at December 31, 2023	124,499	$	22.00	3.70 years	$	616
Options exercisable at December 31, 2023	124,499	$	22.00	3.70 years	$	616

A summary of the status of the Company’s stock options under the Green 2010 Plan as of December 31, 2023, 2022 and 2021 and changes during the years then ended, is as follows:


	Green 2010 Plan
	Non-performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2020	131,083	$	11.60
Forfeited	(2,198)
Exercised	(62,742)	10.51
Outstanding at December 31, 2021	66,143	$	12.56


Canceled	(21,235)	11

Exercised	(1,746)	13.20
Outstanding at December 31, 2022	43,162	$	13.11



Exercised	(32,378)	13.26
Outstanding and exercisable at December 31, 2023	10,784	$	12.65	4.06 years	$	115

Schedule of Fair Value of Stock Options Exercised or Restricted Stock Units Vested

A summary of the fair value of the Company’s stock options exercised vested under the 2010 Incentive Plan as of December 31, 2023, 2022 and 2021 is presented below:


	Fair Value of Options Exercised or Restricted Stock Units Vested as of December 31,
	2023		2022		2021
Nonperformance-based stock options exercised	$	16	$	—	$	568

A summary of the fair value of the Company’s stock options exercised and restricted stock units vested under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021 is presented below:


	Fair Value of Options Exercised, RSUs and PSUs Vested as of December 31,
	2023		2022		2021
Nonperformance-based stock options exercised	$	66	$	792	$	9,214
RSUs vested	3,924		6,356		2,781
PSUs vested	1,070		4,040		—

A summary of the fair value of the Company’s stock options exercised and RSUs vested under the Veritex (Green) 2014 Plan during the year ended December 31, 2023, 2022 and 2021 is presented below:


	Fair Value of Options Exercised or Restricted Stock Units Vested in the year ended December 31,
	2023		2022		2021
Non-performance-based stock options exercised	$	71	$	1,157	$	4,599
RSUs vested	2,384		1,312		713
PSUs vested	227		1,261		—

A summary of the fair value of the Company’s stock options exercised under the Green 2010 Plan during the year ended December 31, 2023, 2022, and 2021 is presented below:


	Fair Value of Options Exercised in the year ended December 31,
	2023		2022		2021
Non-performance-based stock options exercised	$	379	$	47	$	1,838

Summary of Stock Compensation Expense


	Year ended December 31,
	2023		2022
2022 Equity Plan	$	10,200	$	11,109
Veritex (Green) 2014 Plan	1,850		820

Summary of Status of the Company's Restricted Stock Units and Performance-based Stock Units

A summary of the status of the Company’s RSUs under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021, and changes during the year then ended is as follows:


	2022 Equity Plan
	RSUs
	Equity Awards
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	441,132	$	20.39
Granted	281,149	28.68
Vested into shares	(108,732)	24.19
Forfeited	(15,498)	28.47

Outstanding at December 31, 2021	598,051	$	23.39
Granted	546,405	33.79

Vested into shares	(175,159)	27.88
Forfeited	(14,193)	33.18
Outstanding at December 31, 2022	955,104	$	28.38
Granted	293,086	27.17

Vested into shares	(269,144)	29.68
Forfeited	(30,533)	32.23
Outstanding at December 31, 2023	948,513	$	27.52

A summary of the status of the Company’s PSUs under the 2022 Equity Plan as of December 31, 2023, 2022 and 2021, and changes during the years then ended is as follows:


	2022 Equity Plan
	PSUs
	Equity Awards
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	100,195	$	23.20
Granted	56,276	25.94


Outstanding at December 31, 2021	156,471	$	24.17
Granted	39,429	40.38
Incremental PSUs granted upon performance conditions met	34,194	23.90
Vested into shares	(103,387)
Outstanding at December 31, 2022	126,707	$	31.19
Granted	53,310	27.55

Vested into shares	(41,781)	26.42
Forfeited	(8,468)	30.90
Outstanding at December 31, 2023	129,768	$	30.28

A summary of the status of the Company’s RSUs under the Veritex (Green) 2014 Plan as of December 31, 2023, 2022 and 2021 and changes during the years then ended, is as follows:


	Veritex (Green) 2014 Plan
	RSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	156,187	$	22.64
Granted	5,692	26.12


Vested into shares	(33,335)	21.38
Forfeited	(5,760)	23.62
Outstanding at December 31, 2021	122,784	$	21.13
Granted	4,231	40.38
Vested into shares	(32,931)	21.80
Forfeited	(7,851)	29.13
Outstanding at December 31, 2022	86,233	$	21.09

Vested into shares	(19,282)	29.66
Forfeited	(2,232)	29.13
Outstanding at December 31, 2023	64,719	$	18.26

A summary of the status of the Company’s PSUs under the Veritex (Green) 2014 Plan as of December 31, 2023, 2022 and 2021 and changes during the years then ended, is as follows:


	Veritex (Green) 2014 Plan
	PSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	30,728	$	21.43
Granted	6,231	25.94

Forfeited	(1,060)	19.69
Outstanding at December 31, 2021	35,899	$	22.26
Granted	4,411	40.38
Incremental PSUs granted upon performance condition met	10,566	19.69
Vested into shares	(31,703)	21.38

Outstanding at December 31, 2022	19,173	$	30.74


Vested into shares	(8,531)	25.94

Outstanding at December 31, 2023	10,642	$	31.93

PARENT COMPANY ONLY FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY ONLY FINANCIAL STATEMENTS

The following condensed balance sheets, statements of income and statements of cash flows for Veritex Holdings, Inc. should be read in conjunction with the consolidated financial statements and the notes thereto.

Balance Sheet


	December 31,
	2023		2022
Assets
Cash and cash equivalents	$	25,728	$	18,278
Investment in subsidiaries	1,728,364		1,650,727
Other assets	17,088		13,043
Total assets	$	1,771,180	$	1,682,048
Liabilities and Stockholders’ Equity
Other liabilities	$	10,074	$	3,500
Other borrowings	229,783		228,775
Total liabilities	239,857		232,275
Stockholders’ equity

Common stock	$	610	$	607
Additional paid-in capital	1,317,516		1,306,852
Retained earnings	444,242		379,299

Accumulated other comprehensive income	(63,463)		(69,403)
Treasury stock	(167,582)		(167,582)
Total stockholders’ equity	1,531,323		1,449,773
Total liabilities and stockholders’ equity	$	1,771,180	$	1,682,048

Statements of Income


	Year Ended December 31,
	2023		2022		2021
Cash dividends from subsidiary	$	60,000	$	35,000	$	8,440
Excess of earnings over dividend from subsidiary	59,647		121,350		142,289
Other	79		43		43
	119,726		156,393		150,772
Interest on borrowings	12,352		11,156		12,426
Salaries and employee benefits	770		685		668

Other	1,364		891		1,057
	14,486		12,732		14,151
Earnings before income tax benefit	105,240		143,661		136,621
Income tax benefit	(3,021)		(2,654)		(2,963)
Net income	$	108,261	$	146,315	$	139,584

Statements of Cash Flows


	Year Ended December 31,
	2023		2022		2021
Cash flows from operating activities:
Net income	$	108,261	$	146,315	$	139,584
Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Amortization of debt discount and debt issuance costs, net	786		790		817
Equity in undistributed net income of Bank	(59,647)		(121,350)		(142,289)
(Increase) decrease in other assets	(5,552)		(7,801)		902
Decrease (increase) in other liabilities	8,303		504		(3,177)
Net cash provided by (used in) operating activities	52,151		18,458		(4,163)
Cash flows from investing activities:



Advances to subsidiaries	—		(154,610)		—
Net cash used in investing activities	—		(154,610)		—
Cash flows from financing activities:

Net proceeds from sale of common stock in public offering	—		154,415		—
Proceeds from exercise of stock warrants	—		—		165
Redemption of subordinated debt	—		—		(35,000)
Proceeds from exercise of employee stock options	924		1,160		6,313
Payments to tax authorities for stock-based compensation	(2,307)		(3,363)		(725)


Repurchase of treasury stock	—		—		(15,509)
Dividends paid	(43,318)		(42,289)		(36,543)

Net cash (used in) provided by financing activities	(44,701)		109,923		(81,299)
Net increase (decrease) in cash and cash equivalents	7,450		(26,229)		(85,462)
Cash and cash equivalents at beginning of year	18,278		44,507		129,969
Cash and cash equivalents at end of year	$	25,728	$	18,278	$	44,507

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity Method Investments (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 16, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Purchases of equity method securities		$ 0	$ 0	$ 54,970
Goodwill		404,452	$ 404,452	$ 403,771
Thrive Mortgage, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49.00%
Purchases of equity method securities	$ 54,914
Goodwill	$ 35,816
Impairment		$ 29,400

Statistical Disclosure for Banks [Abstract]

STOCK AND INCENTIVE PLANS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2010
2010 Stock Option and Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				1,000,000
Stock based compensation expense	$ 0	$ 0	$ 0
2022 Amended Plan and Green Acquired Omnibus Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period, requirements	1 year
2022 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 10,200,000	11,109,000
Veritex (Green) 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 1,850,000	820,000
Restricted shares \| 2010 Stock Option and Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				100,000
Term of continuous service for vesting awards (in years)	4 years
Stock option \| 2010 Stock Option and Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				900,000
Term of continuous service for vesting awards (in years)	5 years
Contractual terms for non-controlling participants (in years)	10 years
Stock option \| 2022 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense (in dollars)	$ 0	172,000	803,000
Stock option \| Veritex (Green) 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense (in dollars)	0	0	100,000
Performance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				500,000
Non-performance Based Stock Options \| 2010 Stock Option and Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense (in dollars)	$ 0	0	0
Restricted stock units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Restricted stock units \| 2022 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense (in dollars)	$ 14,692,000	17,160,000	10,413,000
Requisite service period to recognize compensation cost (in years)	10 months 6 days
Restricted stock units \| Veritex (Green) 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense (in dollars)	$ 1,781,000	$ 3,825,000	$ 1,252,000
Requisite service period to recognize compensation cost (in years)	1 year 10 months 2 days

LEASES - Lease Costs and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 5,432	$ 5,161
Variable lease cost	989	640
Net lease cost	6,421	5,801
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 5,130	$ 4,781
Weighted-average remaining lease term - operating leases, in years	6 years 2 months 12 days	5 years 4 months 24 days
Weighted-average discount rate - operating leases	3.26%	2.88%

DEPOSITS

12 Months Ended

Dec. 31, 2023

DEPOSITS

Deposits in the accompanying consolidated balance sheets are summarized as follows:


	December 31,
	2023		2022
Noninterest-bearing demand accounts	$	2,218,036	$	2,640,617
Interest-bearing demand accounts	927,193		622,814
Savings accounts	136,868		118,293
Limited access money market accounts	3,864,361		3,654,868
Certificates of deposit, greater than $250	1,312,744		853,659
Certificates of deposit, less than $250	1,878,993		1,232,983
Total	$	10,338,195	$	9,123,234

As of December 31, 2023, the scheduled maturities of certificates of deposit were as follows:


Year	Amount
2024	$	2,854,476
2025	322,311
2026	7,532
2027	3,638
2028	3,780

Total	$	3,191,737

The aggregate amount of demand deposit overdrafts that have been reclassified as loans were $243 and $395 as of December 31, 2023 and 2022, respectively. Brokered deposits at December 31, 2023 and 2022 totaled approximately $2,031,413 and $1,307,996, respectively.

STOCK AND INCENTIVE PLANS - Veritex (Green) 2014 Plan RSU and PSU (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Veritex (Green) 2014 Plan \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Nonvested at the beginning of the period (in shares)	86,233	122,784	156,187
Number of shares awarded (in shares)		4,231	5,692
Vested into shares (in shares)	(19,282)	(32,931)	(33,335)
Forfeited (in shares)	(2,232)	(7,851)	(5,760)
Nonvested at the end of the period (in shares)	64,719	86,233	122,784
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 21.09	$ 21.13	$ 22.64
Granted (in dollars per share)		40.38	26.12
Vested into shares (in dollars per share)	29.66	21.80	21.38
Forfeited (in dollars per share)	29.13	29.13	23.62
Nonvested at the end of the period (in dollars per share)	$ 18.26	$ 21.09	$ 21.13
Veritex (Green) 2014 Plan \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Nonvested at the beginning of the period (in shares)	19,173	35,899	30,728
Number of shares awarded (in shares)		4,411	6,231
Incremental PSUs granted upon performance condition met (in shares)		10,566
Vested into shares (in shares)	(8,531)	(31,703)
Forfeited (in shares)			(1,060)
Nonvested at the end of the period (in shares)	10,642	19,173	35,899
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 30.74	$ 22.26	$ 21.43
Granted (in dollars per share)		40.38	25.94
Incremental PSUs granted upon performance condition met (in dollars per share)		19.69
Vested into shares (in dollars per share)	25.94	21.38
Forfeited (in dollars per share)			19.69
Nonvested at the end of the period (in dollars per share)	$ 31.93	$ 30.74	$ 22.26
2022 Equity Plan \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Nonvested at the beginning of the period (in shares)	955,104	598,051	441,132
Number of shares awarded (in shares)	293,086	546,405	281,149
Vested into shares (in shares)	(269,144)	(175,159)	(108,732)
Forfeited (in shares)	(30,533)	(14,193)	(15,498)
Nonvested at the end of the period (in shares)	948,513	955,104	598,051
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 28.38	$ 23.39	$ 20.39
Granted (in dollars per share)	27.17	33.79	28.68
Vested into shares (in dollars per share)	29.68	27.88	24.19
Forfeited (in dollars per share)	32.23	33.18	28.47
Nonvested at the end of the period (in dollars per share)	$ 27.52	$ 28.38	$ 23.39
2022 Equity Plan \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Nonvested at the beginning of the period (in shares)	126,707	156,471	100,195
Number of shares awarded (in shares)	53,310	39,429	56,276
Incremental PSUs granted upon performance condition met (in shares)		34,194
Vested into shares (in shares)	(41,781)	(103,387)
Nonvested at the end of the period (in shares)	129,768	126,707	156,471
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 31.19	$ 24.17	$ 23.20
Granted (in dollars per share)	27.55	40.38	25.94
Incremental PSUs granted upon performance condition met (in dollars per share)		23.90
Vested into shares (in dollars per share)	26.42
Nonvested at the end of the period (in dollars per share)	$ 30.28	$ 31.19	$ 24.17

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS

12 Months Ended

Dec. 31, 2023

Regulatory Capital Requirements under Banking Regulations [Abstract]

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS

Under applicable U.S. banking laws, there are legal restrictions limiting the amount of dividends the Company can declare. Approval of the regulatory authorities is required if, among other things, the effect of the dividends declared would cause regulatory capital of the Company to fall below specified minimum levels.

The Company on a consolidated basis and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements triggers certain mandatory actions and may lead to additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action (“PCA”), the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and PCA classification are also subject to qualitative judgments by the regulators about components of capital, risk weightings of assets, and other factors. In addition, an institution may be downgraded to, or deemed to be in, a capital category that is lower than indicated by its capital ratios, if it is determined to be in an unsafe or unsound condition or if it receives an unsatisfactory examination rating with respect to certain matters.

Under the Economic Growth, Regulatory Relief and Consumer Protection Act of 2018 and implementing regulations of the federal banking agencies, certain banking organizations with less than $10 billion in total consolidated assets may elect to satisfy a single Community Bank Leverage Ratio (“CBLR”) of Tier 1 capital to average total consolidated assets in lieu of the generally applicable capital requirements of the capital rules implementing Basel III. Banks meeting all of the requirements under this framework are not required to report or calculate RBC, and will be considered to have met the well-capitalized ratio requirements under PCA regulations. The Bank was eligible and elected to use the CBLR framework as of December 31, 2020; however, the Bank was no longer eligible to use the CBLR framework beginning as of June 30, 2021.

As a result of our no longer using the CBLR framework, we are subject to various quantitative measures established by regulation to ensure capital adequacy. These generally applicable capital requirements require a banking organization that does not operate under the CBLR framework to maintain minimum amounts and ratios (set forth in the table below) of total capital, Tier 1 capital, and CET1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The capital rules implementing Basel III also include a “capital conservation buffer” of 2.5% on top of each of the minimum RBC ratios, and a banking organization with any RBC ratio that meets or exceeds the minimum requirement but does not meet the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments based on the amount of the shortfall. Additionally, to be categorized as “well capitalized,” a bank that does not operate under the CBLR framework is required to maintain minimum total risk-based CET1, Tier 1, and total capital ratios and Tier 1 leverage ratios as set forth in the table below.

As of December 31, 2023 and December 31, 2022, the Company’s and the Bank’s capital ratios exceeded those levels necessary to be categorized as “well capitalized.” There are no conditions or events since December 31, 2023 that management believes have changed the Company’s category.

In the first quarter of 2020, U.S. federal regulatory authorities issued an interim final rule that provides banking organizations that adopt CECL during the 2020 calendar year with the option to delay for two years the estimated impact of CECL on regulatory capital relative to regulatory capital determined under the prior incurred loss methodology, followed by a three-year transition period to phase out the aggregate amount of the capital benefit provided during the initial two-year delay (i.e., a five-year transition in total). In connection with our adoption of CECL on January 1, 2020, the Company elected to utilize the five-year CECL transition. As a result, the effects of CECL on the Company’s and the Bank’s regulatory capital was delayed through the year 2021, with the effects phased-in over a three-year period from January 1, 2022 through December 31, 2024.

A comparison of the Company’s and Bank’s actual capital amounts and ratios to required capital amounts and ratios is presented in the following table:


	Actual				For Capital Adequacy Purposes				To Be Well Capitalized Under Prompt Corrective Action Provisions
($ in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2023
Total capital (to RWA)
Company	$	1,500,703	13.18	%	$	910,897	8.0	%	n/a		n/a
Bank	1,467,960		12.90		910,363		8.0		$	1,137,953	10.0	%
Tier 1 capital (to RWA)
Company	1,202,252		10.56		683,098		6.0		n/a		n/a
Bank	1,368,384		12.03		682,486		6.0		909,981		8.0
CET1 (to RWA)
Company	1,172,362		10.29		512,695		4.5		n/a		n/a
Bank	1,368,384		12.03		511,864		4.5		739,360		6.5
Tier 1 capital (to average assets)
Company	1,202,252		10.03		479,462		4.0		n/a		n/a
Bank	1,368,384		11.43		478,875		4.0		598,593		5.0
As of December 31, 2022
Total capital (to RWA)
Company	$	1,395,904	11.63	%	$	960,209	8.0	%	n/a		n/a
Bank	1,368,082		11.41		959,216		8.0		$	1,199,020	10.0	%
Tier 1 capital (to RWA)
Company	1,121,021		9.34		720,142		6.0		n/a		n/a
Bank	1,291,288		10.77		719,381		6.0		959,174		8.0
CET1 (to RWA)
Company	1,091,353		9.09		540,274		4.5		n/a		n/a
Bank	1,291,288		10.77		539,535		4.5		779,329		6.5
Tier 1 capital (to average assets)
Company	1,121,021		9.82		456,628		4.0		n/a		n/a
Bank	1,291,288		11.32		456,286		4.0		570,357		5.0

Dividend Restrictions

Dividends paid by the Bank are subject to certain restrictions imposed by regulatory agencies. Capital requirements further limit the amount of dividends that may be paid by the Bank. Dividends of $60,000 and $35,000 were paid by the Bank to the Holdco during the years ended December 31, 2023 and 2022, respectively.

Dividends of $43,318, or $0.20 per outstanding share on the applicable record date, were paid by the Company during the year ended December 31, 2023. Dividends of $42,289, or $0.20 per outstanding share on the applicable record date, were paid by the Company during the year ended December 31, 2022.

The Bank is subject to limitations on dividend payouts if, among other things, it does not have a capital conservation buffer of 2.5% or more. The Bank had a capital conservation buffer of 4.90% as of December 31, 2023.

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.