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vbtx-20241022

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): October 22, 2024

VERITEX HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

Texas

001-36682

27-0973566

(State or other jurisdiction of
incorporation or organization)

(Commission File Number)

(I.R.S. Employer
Identification Number)

8214 Westchester Drive, Suite 800

Dallas, Texas 75225

(Address of principal executive offices)

(972) 349-6200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

VBTX

Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition

On October 22, 2024, Veritex Holdings, Inc. (the “Company”), the holding company for Veritex Community Bank, a Texas state chartered bank, issued a press release describing its results of operations for the third quarter and year ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 (including Exhibit 99.1) of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

On Wednesday, October 23, 2024, at 8:30 a.m., Central Time, the Company will host an investor conference call and webcast to review its third quarter financial results. The webcast will include a slide presentation that consists of information regarding the Company’s operating and growth strategies and financial performance. The presentation materials will be posted on the Company’s website after the close of the market on Tuesday, October 22, 2024. The presentation materials are attached hereto as Exhibit 99.2 and are incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 7.01 (including Exhibit 99.2) of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01 Other Events

After the close of the market on Tuesday, October 22, 2024, the Company issued a press release announcing the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on November 22, 2024 to shareholders of record as of the close of business on November 8, 2024. The press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

Forward Looking Statement

This earnings release includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment of Veritex Holdings, Inc.’s (“Veritex”) quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; turmoil in the banking industry, responsive measures to mitigate and manage such turmoil and related supervisory and regulatory actions and costs; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2023 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this

earnings release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


Exhibit Number						Description
99.1						Press release, dated October 22, 2024
99.2						Presentation materials
99.3						Dividend Announcement
104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Veritex Holdings, Inc.

By:						/s/ C. Malcolm Holland, III
						C. Malcolm Holland, III
						Chairman and Chief Executive Officer
Date:						October 22, 2024

Document

Exhibit 99.1

VERITEX HOLDINGS, INC. REPORTS THIRD QUARTER 2024 OPERATING RESULTS

Dallas, TX — October 22, 2024 —Veritex Holdings, Inc. (“Veritex”, the “Company”, “we” or “our”) (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the quarter ended September 30, 2024.

“We are pleased to announce both our third quarter results and updates on our balance sheet transformation over the past 2 years,” said C. Malcolm Holland, III, the Company’s Chairman and Chief Executive Officer. “My team has remained focused on growing granular, attractively priced deposits, increasing capital, managing concentrations and reducing credit risk exposure all while continuing to grow a fortress balance sheet through full relationship banking. I could not be more proud of our team of nearly 900 employees who embraced the challenges we set forth back in 2022 and each day going forward.”


	Quarter to Date			Year to Date
Financial Highlights	Q3 2024			Q2 2024			Q3 2024			Q3 2023
	(Dollars in thousands, except per share data) (unaudited)
GAAP
Net income	$	31,001		$	27,202		$	82,359		$	104,762
Diluted EPS	0.56			0.50			1.50			1.92
Book value per common share	29.53			28.49			29.53			27.46
Return on average assets1	0.96		%	0.87		%	0.87		%	1.14		%
Return on average equity1	7.79			7.10			7.08			9.35
Net interest margin	3.30			3.29			3.28			3.55
Efficiency ratio	61.94			59.11			61.15			50.88
Non-GAAP2
Operating earnings	$	32,181		$	28,310		$	89,628		$	110,489
Diluted operating EPS	0.59			0.52			1.63			2.02
Tangible book value per common share	21.72			20.62			21.72			19.44
Pre-tax, pre-provision operating earnings	44,555			44,420			132,631			174,523
Pre-tax, pre-provision operating return on average assets1	1.38		%	1.42		%	1.41		%	1.90		%
Pre-tax, pre-provision operating return on average loans1	1.83			1.83			1.83			2.43
Operating return on average assets1	1.00			0.91			0.95			1.20
Return on average tangible common equity1	11.33			10.54			10.48			13.95
Operating return on average tangible common equity1	11.74			10.94			11.34			14.68
Operating efficiency ratio	60.63			58.41			59.28			49.53

1 Annualized ratio.

2 Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of these non-generally accepted accounting principles (“GAAP”) financial measures to their most directly comparable GAAP measures.

Other Third Quarter Financial, Credit and Company Highlights

•Return on average assets (“ROAA”) increased 9 bps compared to June 30, 2024;

•7.2% linked quarter revenue growth;

•Nonperforming assets (“NPAs”) decreased 13 bps from the prior quarter to 0.52% of total assets;

•Total deposits grew $311.2 million, or 11.60% annualized, compared to June 30, 2024;

•Common equity tier 1 capital grew 37 bps from the prior quarter to 10.86%;

•Net interest margin (“NIM”) expanded to 3.30%;

•Loan to deposit ratio, excluding mortgage warehouse loans, decreased to 81.9% as of September 30, 2024, compared to 85.9% as of June 30, 2024 and 90.7% as of September 30, 2023;

•Tangible book value per common share increased to $21.72;

•Allowance for credit losses (“ACL”) to total loans held for investment (“LHI”) increased to 1.21%, compared to 1.16% as of June 30, 2024 and 1.14% as of September 30, 2023; and

•Declared quarterly cash dividend of $0.20 per share of outstanding common stock payable on November 22, 2024.

Results of Operations for the Three Months Ended September 30, 2024

Net Interest Income

For the three months ended September 30, 2024, net interest income before provision for credit losses was $100.1 million and NIM was 3.30% compared to $96.2 million and 3.29%, respectively, for the three months ended June 30, 2024. The approximately $3.8 million increase, or 4.0%, in net interest income before provision for credit losses was primarily due to a $4.8 million increase in interest income on deposits in financial institutions and fed funds sold, a $1.4 million decrease in interest expense on advances from the Federal Home Loan Bank (“FHLB”), a $422 thousand increase in interest income on debt securities and a $282 thousand increase in interest income on loans. The increase was partially offset by a $1.6 million increase in interest expense on transactions and savings deposits and a $1.4 million increase in interest expense on certificates and other time deposits, during the three months ended September 30, 2024. NIM increased 1 basis point compared to the three months ended June 30, 2024, primarily due to a decrease in funding costs on deposits during the three months ended September 30, 2024, partially offset by a decrease in loan yields and average balances.

Compared to the three months ended September 30, 2023, net interest income before provision for credit losses for the three months ended September 30, 2024 increased by $701 thousand, or 0.7%. The increase was primarily due to a $8.5 million decrease in interest expense on advances from the FHLB, a $5.4 million increase in interest income on deposits in financial institutions and fed funds sold and a $4.9 million increase in interest income on debt securities. The increase was partially offset by a $10.1 million increase in interest expense on certificates and other time deposits, a $7.3 million increase in interest expense on transaction and savings deposits and a $690 thousand decrease in interest income on equity securities and other investments. Compared to the three months ended September 30, 2023, NIM decreased 16 bps from 3.46% for the three months ended September 30, 2024. The decrease was primarily due to the increase in funding costs on deposits during the three months ended September 30, 2024, partially offset by an increase in loan yields and an increase in average balances and yields on debt securities.

Noninterest Income

Noninterest income for the three months ended September 30, 2024 was $13.1 million, an increase of $2.5 million, or 23.9%, compared to the three months ended June 30, 2024. The increase was primarily due to a $1.6 million increase in other income, driven by a $1.2 million increase in other real estate owned (“OREO”) income, a $1.1 million increase in loan fees and a $468 thousand increase in service charges and fees on deposits for the three months ended September 30, 2024. The increase was partially offset by a $540 thousand decrease in government guaranteed loan income.

Compared to the three months ended September 30, 2023, noninterest income for the three months ended September 30, 2024 increased by $3.4 million, or 35.5%. The increase was primarily due to a $2.2 million increase in other income, driven by a $1.2 million increase in OREO income, a $1.7 million increase in loan fees and a $283 thousand increase in service charges and fees on deposit accounts. The increase was partially offset by a $1.0 million decrease in government guaranteed loan income, primarily driven by a decrease in the Company’s USDA sales.

Noninterest Expense

Noninterest expense was $70.1 million for the three months ended September 30, 2024, compared to $63.1 million for the three months ended June 30, 2024, an increase of $7.0 million, or 11.0%. The increase was primarily due to a $4.6 million increase in salaries and employee benefits primarily due to an increase in incentive accruals to 80% of target payout, a $1.9 million increase in other noninterest expense primarily driven by OREO expenses, a $805 thousand increase in marketing expenses and a $204 thousand increase in occupancy and equipment expense. The increase is partially offset by a decrease of $714 thousand in professional and regulatory fees compared to the three months ended June 30, 2024.

Compared to the three months ended September 30, 2023, noninterest expense for the three months ended September 30, 2024 increased by $10.7 million, or 18.0%. The increase was primarily due to a $6.4 million increase in salaries and employee benefits primarily due to the increase in incentive accruals aforementioned, a $5.6 million increase in other noninterest expense, a $727 thousand increase data processing and software expense, and a $428 thousand increase in marketing expenses. The increase was partially offset by a $2.4 million decrease in professional and regulatory fees compared to the three months ended September 30, 2023.

Financial Condition

Total LHI was $9.03 billion at September 30, 2024, a decrease of $180.5 million compared to June 30, 2024.

Total deposits were $11.04 billion at September 30, 2024, an increase of $311.2 million, or 11.6% linked quarter annualized. The increase was primarily the result of an increase of $227.2 million in noninterest bearing deposits and an increase of $225.3 million in interest-bearing transaction and savings deposits. The increase was partially offset by a decrease of $118.7 million in certificates and other time deposits and a decrease of $22.6 million in correspondent money market accounts.

Credit Quality

NPAs totaled $67.3 million, or 0.52% of total assets, of which $58.3 million represents LHI and $9.0 million represents OREO at September 30, 2024, compared to $83.0 million, or 0.65% of total assets, at June 30, 2024. The Company had net charge-offs of $269 thousand for the three months ended September 30, 2024. Annualized net charge-offs to average loans outstanding were 1bp, for the three months ended September 30, 2024, compared to 28 bps and 8 bps for the three months ended June 30, 2024 and September 30, 2023, respectively.

ACL as a percentage of LHI was 1.21%, 1.16% and 1.14% at September 30, 2024, June 30, 2024 and September 30, 2023, respectively. The Company recorded a provision for credit losses of $4.0 million, $8.3 million and $8.6 million for the three months ended September 30, 2024, June 30, 2024 and September 30, 2023, respectively. The recorded provision for credit losses for the three months ended September 30, 2024, compared to the three months ended June 30, 2024, was primarily attributable to an increase in general reserves as a result of changes in economic factors which now represents 97% of the total ACL as a percentage of LHI. The balance for unfunded commitments for the three months ended September 30, 2024 remained relatively stable compared to the three months ended June 30, 2024 and recorded no benefit or provision for unfunded commitments for the three months ended September 30, 2024. The Company recorded no benefit or provision for unfunded commitments for the three months ended June 30, 2024 and a $909 thousand benefit for unfunded commitments for the three months ended September 30, 2023.

Income Tax

Income tax expense for the three months ended September 30, 2024 totaled $8.1 million, a decrease of $154 thousand, or 1.9%, compared to the three months ended June 30, 2024. The Company’s effective tax rate was approximately 20.6% for the three months ended September 30, 2024. The decrease was primarily due a $941 thousand change in the Company’s valuation allowance slightly offset by a return to provision of $224 thousand and a net discrete tax expense of $501 thousand associated with the recognition of an excess tax expense realized on share-based payment awards.

Dividend Information

After the close of the market on Tuesday, October 22, 2024, Veritex’s Board of Directors declared a quarterly cash dividend of $0.20 per share on its outstanding shares of common stock. The dividend will be paid on or after November 22, 2024 to stockholders of record as of the close of business on November 8, 2024.

Non-GAAP Financial Measures

Veritex’s management uses certain non-GAAP (U.S. generally accepted accounting principles) financial measures to evaluate its operating performance and provide information that is important to investors. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Veritex’s reported results prepared in accordance with GAAP. Specifically, Veritex reviews and reports tangible book value per common share of the Company; operating earnings; tangible common equity to tangible assets; return on average tangible common equity; pre-tax, pre-provision operating earnings; pre-tax, pre-provision operating return on average assets; pre-tax, pre-provision operating return on average loans; diluted operating earnings per share; operating return on average assets; operating return on average tangible common equity; and operating efficiency ratio. Veritex has included in this earnings release information related to these non-GAAP financial measures for the applicable periods presented. Please refer to “Reconciliation of Non-GAAP Financial Measures” after the financial highlights at the end of this earnings release for a reconciliation of these non-GAAP financial measures.

Conference Call

The Company will host an investor conference call and webcast to review the results on Wednesday, October 23, 2024, at 8:30 a.m. Central Time. Participants may pre-register for the call by visiting http://edge.media-server.com/mmc/p/99msavdf and will receive a unique PIN, which can be used when dialing in for the call.

Participants may also register via teleconference: https://register.vevent.com/register/BI8a41df4f3f824d2888f9cf9a3e02c9b8. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are instructed to dial-in 15 minutes prior to the start time.

A replay will be available within approximately two hours after the completion of the call, and made accessible for one week thereafter. You may access the replay via webcast through the investor relations section of Veritex’s website.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Media and Investor Relations:

investorrelations@veritexbank.com

Forward-Looking Statements

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023			Sep 30, 2024			Sep 30, 2023
	(Dollars and shares in thousands, except per share data)
Per Share Data (Common Stock):
Basic EPS	$	0.57		$	0.50		$	0.44		$	0.06		$	0.60		$	1.51		$	1.93
Diluted EPS	0.56			0.50			0.44			0.06			0.60			1.50			1.92
Book value per common share	29.53			28.49			28.23			28.18			27.46			29.53			27.46
Tangible book value per common share1	21.72			20.62			20.33			20.21			19.44			21.72			19.44
Dividends paid per common share outstanding2	0.20			0.20			0.20			0.20			0.20			0.60			0.60

Common Stock Data:
Shares outstanding at period end	54,446			54,350			54,496			54,338			54,305			54,446			54,305
Weighted average basic shares outstanding for the period	54,409			54,457			54,444			54,327			54,300			54,437			54,233
Weighted average diluted shares outstanding for the period	54,932			54,823			54,842			54,691			54,597			54,866			54,563

Summary of Credit Ratios:
ACL to total LHI	1.21		%	1.16		%	1.15		%	1.14		%	1.14		%	1.21		%	1.14		%
NPAs to total assets	0.52			0.65			0.82			0.77			0.65			0.52			0.65

NPAs to total loans and OREO	0.70			0.85			1.06			0.99			0.83			0.70			0.83
Net charge-offs to average loans outstanding3	0.01			0.28			0.22			0.39			0.08			0.17			0.20

Summary Performance Ratios:
Return on average assets3	0.96		%	0.87		%	0.79		%	0.11		%	1.06		%	0.87		%	1.14		%
Return on average equity3	7.79			7.10			6.33			0.92			8.58			7.08			9.35
Return on average tangible common equity1, 3	11.33			10.54			9.52			2.00			12.80			10.48			13.95
Efficiency ratio	61.94			59.11			62.45			77.49			54.49			61.15			50.88
Net interest margin	3.30			3.29			3.24			3.31			3.46			3.28			3.55

Selected Performance Metrics - Operating:
Diluted operating EPS1	$	0.59		$	0.52		$	0.53		$	0.58		$	0.60		$	1.63		$	2.02
Pre-tax, pre-provision operating return on average assets1, 3	1.38		%	1.42		%	1.42		%	1.54		%	1.61		%	1.41		%	1.90		%
Pre-tax, pre-provision operating return on average loans1, 3	1.83			1.83			1.84			1.97			2.05			1.83			2.43
Operating return on average assets1,3	1.00			0.91			0.95			1.02			1.06			0.95			1.20
Operating return on average tangible common equity1,3	11.74			10.94			11.34			12.37			12.80			11.34			14.68
Operating efficiency ratio1	60.63			58.41			58.73			55.50			54.49			59.28			49.53

Veritex Holdings, Inc. Capital Ratios:
Average stockholders' equity to average total assets	12.31		%	12.26		%	12.43		%	12.27		%	12.30		%	12.33		%	12.21		%
Tangible common equity to tangible assets1	9.37			9.14			9.02			9.18			8.86			9.37			8.86
Tier 1 capital to average assets (leverage)	10.06			10.06			10.12			10.03			10.10			10.06			10.10
Common equity tier 1 capital	10.86			10.49			10.37			10.29			10.11			10.86			10.11
Tier 1 capital to risk-weighted assets	11.13			10.75			10.63			10.56			10.37			11.13			10.37
Total capital to risk-weighted assets	13.91			13.45			13.33			13.18			12.95			13.91			12.95
Risk weighted assets	$	11,290,800		$	11,450,997		$	11,407,446		$	11,387,825		$	11,617,229		$	11,290,800		$	11,617,229

1 Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” after the financial highlights for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures.

2 Dividend amount represents dividend paid per common share subsequent to each respective quarter end.

3 Annualized ratio for quarterly metrics.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands)


	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023
	(unaudited)		(unaudited)		(unaudited)				(unaudited)
ASSETS
Cash and cash equivalents	$	1,100,790	$	651,837	$	740,769	$	629,063	$	713,408
Debt securities, net	1,423,610		1,349,354		1,344,930		1,257,042		1,060,629
Other investments	71,257		75,885		76,788		76,238		80,869

Loans held for sale (“LHFS”)	48,496		57,046		64,762		79,072		41,313
LHI, mortgage warehouse (“MW”)	630,650		568,047		449,531		377,796		390,767
LHI, excluding MW	9,028,575		9,209,094		9,249,551		9,206,544		9,237,447
Total loans	9,707,721		9,834,187		9,763,844		9,663,412		9,669,527
ACL	(117,162)		(113,431)		(112,032)		(109,816)		(109,831)
Bank-owned life insurance	84,776		84,233		85,359		84,833		84,867
Bank premises, furniture and equipment, net	114,202		105,222		105,299		105,727		106,118
Other real estate owned (“OREO”)	9,034		24,256		18,445		—		—
Intangible assets, net of accumulated amortization	32,825		35,817		38,679		41,753		44,294
Goodwill	404,452		404,452		404,452		404,452		404,452
Other assets	211,471		232,518		241,863		241,633		291,998
Total assets	$	13,042,976	$	12,684,330	$	12,708,396	$	12,394,337	$	12,346,331
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing deposits	$	2,643,894	$	2,416,727	$	2,349,211	$	2,218,036	$	2,363,340
Interest-bearing transaction and savings deposits	4,204,708		3,979,454		4,220,114		4,348,385		3,936,070
Certificates and other time deposits	3,625,920		3,744,596		3,486,805		3,191,737		3,403,427
Correspondent money market deposits	561,489		584,067		597,690		580,037		493,681
Total deposits	11,036,011		10,724,844		10,653,820		10,338,195		10,196,518
Accounts payable and other liabilities	168,415		180,585		186,027		195,036		229,116
Advances from FHLB	—		—		100,000		100,000		200,000
Subordinated debentures and subordinated notes	230,536		230,285		230,034		229,783		229,531

Total liabilities	11,434,962		11,135,714		11,169,881		10,863,014		10,855,165
Commitments and contingencies
Stockholders’ equity:
Common stock	613		612		611		610		609
Additional paid-in capital	1,324,929		1,321,995		1,319,144		1,317,516		1,314,459
Retained earnings	493,921		473,801		457,499		444,242		451,513

Accumulated other comprehensive loss	(40,330)		(76,713)		(71,157)		(63,463)		(107,833)
Treasury stock	(171,119)		(171,079)		(167,582)		(167,582)		(167,582)
Total stockholders’ equity	1,608,014		1,548,616		1,538,515		1,531,323		1,491,166
Total liabilities and stockholders’ equity	$	13,042,976	$	12,684,330	$	12,708,396	$	12,394,337	$	12,346,331

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands, except per share data)


	For the Quarter Ended										For the Nine Months Ended
	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
Interest income:
Loans, including fees	$	167,261	$	166,979	$	161,942	$	165,443	$	167,368	$	496,182	$	482,802
Debt securities	15,830		15,408		13,695		12,282		10,928		44,933		32,082
Deposits in financial institutions and Fed Funds sold	12,571		7,722		8,050		8,162		7,128		28,343		20,169
Equity securities and other investments	1,001		1,138		900		1,717		1,691		3,039		4,217
Total interest income	196,663		191,247		184,587		187,604		187,115		572,497		539,270
Interest expense:
Transaction and savings deposits	47,208		45,619		46,784		46,225		39,936		139,611		102,750
Certificates and other time deposits	46,230		44,811		40,492		40,165		36,177		131,533		85,244
Advances from FHLB	47		1,468		1,391		2,581		8,523		2,906		38,443
Subordinated debentures and subordinated notes	3,116		3,113		3,114		3,100		3,118		9,343		9,252
Total interest expense	96,601		95,011		91,781		92,071		87,754		283,393		235,689
Net interest income	100,062		96,236		92,806		95,533		99,361		289,104		303,581
Provision for credit losses	4,000		8,250		7,500		9,500		8,627		19,750		33,012
(Benefit) provision for unfunded commitments	—		—		(1,541)		(1,500)		(909)		(1,541)		(541)
Net interest income after provisions	96,062		87,986		86,847		87,533		91,643		270,895		271,110
Noninterest income:
Service charges and fees on deposit accounts	5,442		4,974		4,896		4,800		5,159		15,312		15,448
Loan fees	3,278		2,207		2,510		1,200		1,564		7,995		5,148
Loss on sales of debt securities	—		—		(6,304)		—		—		(6,304)		(5,321)
Government guaranteed loan income, net	780		1,320		2,614		4,378		1,772		4,714		15,604
Equity method investment (loss) income	—		—		—		(29,417)		(136)		—		(1,172)
Customer swap income	271		326		449		258		202		1,046		1,380
Other income	3,335		1,751		2,497		989		1,113		7,583		5,810
Total noninterest income (loss)	13,106		10,578		6,662		(17,792)		9,674		30,346		36,897
Noninterest expense:
Salaries and employee benefits	37,370		32,790		33,365		30,606		30,949		103,525		91,464
Occupancy and equipment	4,789		4,585		4,677		4,670		4,881		14,051		14,681
Professional and regulatory fees	4,903		5,617		6,053		7,626		7,283		16,573		18,540
Data processing and software expense	5,268		5,097		4,856		4,569		4,541		15,221		13,970
Marketing	2,781		1,976		1,546		1,945		2,353		6,303		6,759
Amortization of intangibles	2,438		2,438		2,438		2,438		2,438		7,314		7,401
Telephone and communications	335		365		261		356		362		961		1,195

Other	12,216		10,273		8,920		8,028		6,607		31,409		19,216
Total noninterest expense	70,100		63,141		62,116		60,238		59,414		195,357		173,226
Income before income tax expense	39,068		35,423		31,393		9,503		41,903		105,884		134,781
Income tax expense	8,067		8,221		7,237		6,004		9,282		23,525		30,019
Net income	$	31,001	$	27,202	$	24,156	$	3,499	$	32,621	$	82,359	$	104,762



Basic EPS	$	0.57	$	0.50	$	0.44	$	0.06	$	0.60	$	1.51	$	1.93
Diluted EPS	$	0.56	$	0.50	$	0.44	$	0.06	$	0.60	$	1.50	$	1.92
Weighted average basic shares outstanding	54,409		54,457		54,444		54,327		54,300		54,437		54,233
Weighted average diluted shares outstanding	54,932		54,823		54,842		54,691		54,597		54,866		54,563

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)


	For the Quarter Ended
	September 30, 2024						June 30, 2024						September 30, 2023
	Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate
	(Dollars in thousands)
Assets
Interest-earning assets:
Loans1	$	9,184,182	$	159,163	6.89	%	$	9,344,482	$	160,323	6.90	%	$	9,267,366	$	161,615	6.92	%
LHI, MW	477,592		8,098		6.75		420,946		6,656		6.36		357,639		5,753		6.38

Debt securities	1,384,835		15,830		4.55		1,352,293		15,408		4.58		1,121,716		10,928		3.87
Interest-bearing deposits in other banks	924,685		12,571		5.41		560,586		7,722		5.54		520,785		7,128		5.43
Equity securities and other investments	75,884		1,001		5.25		78,964		1,138		5.80		135,714		1,691		4.94
Total interest-earning assets	12,047,178		196,663		6.49		11,757,271		191,247		6.54		11,403,220		187,115		6.51
ACL	(115,510)						(115,978)						(105,320)
Noninterest-earning assets	930,250						937,413						961,162
Total assets	$	12,861,918					$	12,578,706					$	12,259,062

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand and savings deposits	$	4,700,196	$	47,208	4.00	%	$	4,570,329	$	45,619	4.01	%	$	4,168,876	$	39,936	3.80	%
Certificates and other time deposits	3,678,718		46,230		5.00		3,591,035		44,811		5.02		3,151,704		36,177		4.55
Advances from FHLB and Other	3,261		47		5.73		106,648		1,468		5.54		725,543		8,523		4.66
Subordinated debentures and subordinated notes	230,393		3,116		5.38		230,141		3,113		5.44		229,389		3,118		5.39
Total interest-bearing liabilities	8,612,568		96,601		4.46		8,498,153		95,011		4.50		8,275,512		87,754		4.21

Noninterest-bearing liabilities:
Noninterest-bearing deposits	2,486,676						2,346,908						2,272,207
Other liabilities	179,273						192,036						203,173
Total liabilities	11,278,517						11,037,097						10,750,892
Stockholders’ equity	1,583,401						1,541,609						1,508,170
Total liabilities and stockholders’ equity	$	12,861,918					$	12,578,706					$	12,259,062

Net interest rate spread2					2.03	%					2.04	%					2.30	%
Net interest income and margin3			$	100,062	3.30	%			$	96,236	3.29	%			$	99,361	3.46	%

1 Includes average outstanding balances of LHFS of $54.3 million, $58.5 million and $28.3 million for the quarters ended September 30, 2024, June 30, 2024, and September 30, 2023, respectively, and average balances of LHI, excluding MW.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands, except percentages)


	For the Nine Months Ended
	September 30, 2024						September 30, 2023
	Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate
Assets
Interest-earning assets:
Loans1	$	9,270,510	$	477,071	6.87	%	$	9,231,814	$	467,101	6.76	%
LHI, MW	393,008		19,111		6.50		363,182		15,701		5.78
Debt securities	1,344,190		44,933		4.47		1,168,860		32,082		3.67
Interest-bearing deposits in other banks	692,434		28,343		5.47		527,805		20,169		5.11
Equity securities and other investments	77,035		3,039		5.27		132,895		4,217		4.24
Total interest-earning assets	11,777,177		572,497		6.49		11,424,556		539,270		6.31
ACL	(114,576)						(100,228)
Noninterest-earning assets	930,605						950,369
Total assets	$	12,593,206					$	12,274,697

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand and savings deposits	$	4,636,889	$	139,611	4.02	%	$	4,079,436	$	102,750	3.37	%
Certificates and other time deposits	3,518,417		131,533		4.99		2,873,388		85,244		3.97
Advances from FHLB and Other	70,055		2,906		5.54		1,105,592		38,443		4.65
Subordinated debentures and subordinated notes	230,139		9,343		5.42		229,923		9,252		5.38
Total interest-bearing liabilities	8,455,500		283,393		4.48		8,288,339		235,689		3.80

Noninterest-bearing liabilities:
Noninterest-bearing deposits	2,396,629						2,305,745
Other liabilities	188,007						182,040
Total liabilities	11,040,136						10,776,124
Stockholders’ equity	1,553,070						1,498,573
Total liabilities and stockholders’ equity	$	12,593,206					$	12,274,697

Net interest rate spread2					2.01	%					2.51	%
Net interest income and margin3			$	289,104	3.28	%			$	303,581	3.55	%

1 Includes average outstanding balances of LHFS of $55.5 million and $23.8 million for the nine months ended September 30, 2024 and 2023, respectively, and average balances of LHI, excluding MW.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

Yield Trend


	For the Quarter Ended
	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023
Average yield on interest-earning assets:
Loans1	6.89	%	6.90	%	6.83	%	6.88	%	6.92	%
LHI, MW	6.75		6.36		6.27		5.82		6.38
Total Loans	6.89		6.88		6.81		6.85		6.90
Debt securities	4.55		4.58		4.25		4.10		3.87
Interest-bearing deposits in other banks	5.41		5.54		5.54		5.51		5.43
Equity securities and other investments	5.25		5.80		4.75		8.28		4.94
Total interest-earning assets	6.49	%	6.54	%	6.44	%	6.51	%	6.51	%

Average rate on interest-bearing liabilities:
Interest-bearing demand and savings deposits	4.00	%	4.01	%	4.06	%	4.03	%	3.80	%
Certificates and other time deposits	5.00		5.02		4.96		4.85		4.55
Advances from FHLB	5.73		5.54		5.54		5.60		4.66
Subordinated debentures and subordinated notes	5.38		5.44		5.45		5.36		5.39
Total interest-bearing liabilities	4.46	%	4.50	%	4.47	%	4.43	%	4.21	%

Net interest rate spread2	2.03	%	2.04	%	1.97	%	2.08	%	2.30	%
Net interest margin3	3.30	%	3.29	%	3.24	%	3.31	%	3.46	%

1Includes average outstanding balances of LHFS of $54.3 million, $58.5 million, $53.9 million, $31.2 million and $28.3 million for the three months ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023, respectively, and average balances of LHI, excluding MW.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

Supplemental Yield Trend


	For the Quarter Ended										For the Nine Months Ended
	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
Average cost of interest-bearing deposits	4.44	%	4.46	%	4.43	%	4.38	%	4.12	%	4.44	%	3.62	%
Average costs of total deposits, including noninterest-bearing	3.42		3.46		3.42		3.37		3.15		3.43		2.03

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

LHI and Deposit Portfolio Composition


	Sep 30, 2024					Jun 30, 2024					Mar 31, 2024					Dec 31, 2023					Sep 30, 2023
	(Dollars in thousands)
LHI1
Commercial and Industrial (“C&I”)	$	2,728,544		30.2	%	$	2,798,260		30.4	%	$	2,785,987		30.1	%	$	2,752,063		29.9	%	$	2,841,024		30.7	%
Real Estate:
Owner occupied commercial (“OOCRE”)	807,223			8.9		806,285			8.7		788,376			8.5		794,088			8.6		697,299			7.5
Non-owner occupied commercial (“NOOCRE”)	2,338,094			25.9		2,369,848			25.7		2,352,993			25.5		2,350,725			25.5		2,398,060			26.1
Construction and land	1,436,540			15.8		1,536,580			16.7		1,568,257			16.9		1,734,254			18.8		1,705,053			18.4
Farmland	32,254			0.4		30,512			0.3		30,979			0.3		31,114			0.3		59,684			0.6
1-4 family residential	944,755			10.5		917,402			10.0		969,401			10.5		937,119			10.2		933,225			10.1
Multi-family residential	738,090			8.2		748,740			8.1		751,607			8.1		605,817			6.6		603,395			6.5
Consumer	11,292			0.1		9,245			0.1		8,882			0.1		10,149			0.1		9,845			0.1
Total LHI	$	9,036,792		100	%	$	9,216,872		100	%	$	9,256,482		100	%	$	9,215,329		100	%	$	9,247,585		100	%

MW	630,650					568,047					449,531					377,796					390,767

Total LHI1	$	9,667,442				$	9,784,919				$	9,706,013				$	9,593,125				$	9,638,352

Total LHFS	48,496					57,046					64,762					79,072					41,313

Total Loans	$	9,715,938				$	9,841,965				$	9,770,775				$	9,672,197				$	9,679,665

Deposits
Noninterest-bearing	$	2,643,894		24.0	%	$	2,416,727		22.5	%	$	2,349,211		22.1	%	$	2,218,036		21.5	%	$	2,363,340		23.2	%
Interest-bearing transaction	421,059			3.8		523,272			4.9		724,171			6.8		927,193			8.9		739,098			7.2
Money market	3,462,709			31.4		3,268,286			30.5		3,326,742			31.2		3,284,324			31.8		3,096,498			30.4
Savings	320,940			2.9		187,896			1.8		169,201			1.6		136,868			1.3		100,474			1.0
Certificates and other time deposits	3,625,920			32.8		3,744,596			34.9		3,486,805			32.7		3,191,737			30.9		3,403,427			33.4
Correspondent money market accounts	561,489			5.1		584,067			5.4		597,690			5.6		580,037			5.6		493,681			4.8
Total deposits	$	11,036,011		100	%	$	10,724,844		100	%	$	10,653,820		100	%	$	10,338,195		100	%	$	10,196,518		100	%

Total Loans to Deposits Ratio	88.0		%			91.8		%			91.7		%			93.6		%			94.9		%

Total Loans to Deposit Ratio, excluding MW loans and LHFS	81.9		%			85.9		%			86.9		%			89.1		%			90.7		%

1 Total LHI does not include deferred fees of $8.2 million, $7.8 million, $6.9 million, $8.8 million and $10.1 million at September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, respectively.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

Asset Quality


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023			Sep 30, 2024			Sep 30, 2023
	(Dollars in thousands)
NPAs:
Nonaccrual loans	$	55,335		$	58,537		$	75,721		$	79,133		$	65,676		$	55,335		$	65,676
Nonaccrual PCD loans1	70			73			9,419			13,715			13,718			70			13,718
Accruing loans 90 or more days past due2	2,860			143			220			2,975			474			2,860			474
Total nonperforming loans held for investment (“NPLs”)	58,265			58,753			85,360			95,823			79,868			58,265			79,868
Other real estate owned	9,034			24,256			18,445			—			—			9,034			—
Total NPAs	$	67,299		$	83,009		$	103,805		$	95,823		$	79,868		$	67,299		$	79,868

Charge-offs:
1-4 family residential	$	—		$	(31)		$	—		$	(21)		$	—		$	(31)		$	—
Multifamily	—			(198)			—			(192)			—			(198)			—
OOCRE	—			—			(120)			(364)			(375)			(120)			(491)
NOOCRE	—			(1,969)			(4,293)			(5,434)			—			(6,262)			(8,215)
C&I	(2,259)			(5,601)			(946)			(3,893)			(1,929)			(8,806)			(6,520)

Consumer	(54)			(30)			(71)			(33)			(49)			(155)			(203)
Total charge-offs	$	(2,313)		$	(7,829)		$	(5,430)		$	(9,937)		$	(2,353)		$	(15,572)		$	(15,429)

Recoveries:
1-4 family residential	$	3		$	—		$	1		$	1		$	—		$	4		$	2
OOCRE	—			120			—			—			—			120			—
NOOCRE	—			—			—			—			200			—			350
C&I	1,962			361			96			387			308			2,419			778
Mortgage Warehouse	46			—			—			—			—			46			—
Consumer	33			497			49			34			14			579			66
Total recoveries	$	2,044		$	978		$	146		$	422		$	522		$	3,168		$	1,196

Net charge-offs	$	(269)		$	(6,851)		$	(5,284)		$	(9,515)		$	(1,831)		$	(12,404)		$	(14,233)

Provision for credit losses	$	4,000		$	8,250		$	7,500		$	9,500		$	8,627		$	19,750		$	33,012

ACL	$	117,162		$	113,431		$	112,032		$	109,816		$	109,831		$	117,162		$	109,831

Asset Quality Ratios:
NPAs to total assets	0.52		%	0.65		%	0.82		%	0.77		%	0.65		%	0.52		%	0.65		%
NPAs, excluding nonaccrual PCD loans, to total assets	0.52			0.65			0.74			0.66			0.44			0.52			0.54
NPAs to total loans and OREO	0.70			0.85			1.06			0.99			0.83			0.70			0.83
NPLs to total LHI	0.60			0.60			0.88			1.00			0.83			0.60			0.83
NPLs, excluding nonaccrual PCD loans, to total LHI	0.60			0.60			0.78			0.86			0.69			0.60			0.69
ACL to total LHI	1.21			1.16			1.15			1.14			1.14			1.21			1.14
ACL to total loans, excluding MW and LHFS	1.30			1.23			1.21			1.19			1.19			1.30			1.19
Net charge-offs to average loans outstanding3	0.01			0.28			0.22			0.39			0.08			0.17			0.20

1 Nonaccrual PCD loans consist of PCD loans that transitioned upon adoption of ASC 326 Financial Instruments - Credit Losses and were accounted for on a pooled basis that have subsequently been placed on nonaccrual status.

2 Accruing loans greater than 90 days past due exclude purchase credit deteriorated loans greater than 90 days past due that are accounted for on a pooled basis.

3 Annualized ratio for quarterly metrics.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

We identify certain financial measures discussed in this earnings release as being “non-GAAP financial measures.” In accordance with SEC rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP, in our statements of income, balance sheets or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios calculated using exclusively either one or both of (i) financial measures calculated in accordance with GAAP and (ii) operating measures or other measures that are not non-GAAP financial measures.

The non-GAAP financial measures that we present in this earnings release should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that we present in this earnings release may differ from that of other companies reporting measures with similar names. You should understand how such other financial institutions calculate their financial measures that appear to be similar or have similar names to the non-GAAP financial measures we have discussed in this earnings release when comparing such non-GAAP financial measures.

Tangible Book Value Per Common Share. Tangible book value is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity less goodwill and core deposit intangibles, net of accumulated amortization; and (b) tangible book value per common share as tangible common equity (as described in clause (a)) divided by number of common shares outstanding. For tangible book value per common share, the most directly comparable financial measure calculated in accordance with GAAP is book value per common share.

We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing total book value while not increasing our tangible book value.

The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and presents our tangible book value per common share compared with our book value per common share:


	As of
	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023
	(Dollars in thousands, except per share data)
Tangible Common Equity
Total stockholders' equity	$	1,608,014	$	1,548,616	$	1,538,515	$	1,531,323	$	1,491,166
Adjustments:
Goodwill	(404,452)		(404,452)		(404,452)		(404,452)		(404,452)
Core deposit intangibles	(21,182)		(23,619)		(26,057)		(28,495)		(30,933)
Tangible common equity	$	1,182,380	$	1,120,545	$	1,108,006	$	1,098,376	$	1,055,781
Common shares outstanding	54,446		54,350		54,496		54,338		54,305

Book value per common share	$	29.53	$	28.49	$	28.23	$	28.18	$	27.46
Tangible book value per common share	$	21.72	$	20.62	$	20.33	$	20.21	$	19.44

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Tangible Common Equity to Tangible Assets. Tangible common equity to tangible assets is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity, less goodwill and core deposit intangibles, net of accumulated amortization; (b) tangible assets as total assets less goodwill and core deposit intangibles, net of accumulated amortization; and (c) tangible common equity to tangible assets as tangible common equity (as described in clause (a)) divided by tangible assets (as described in clause (b)). For tangible common equity to tangible assets, the most directly comparable financial measure calculated in accordance with GAAP is total stockholders’ equity to total assets.

We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period in common equity and total assets, in each case, exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing both total stockholders’ equity and assets while not increasing our tangible common equity or tangible assets.

The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and total assets to tangible assets and presents our tangible common equity to tangible assets:


	As of
	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023
	(Dollars in thousands)
Tangible Common Equity
Total stockholders' equity	$	1,608,014		$	1,548,616		$	1,538,515		$	1,531,323		$	1,491,166
Adjustments:
Goodwill	(404,452)			(404,452)			(404,452)			(404,452)			(404,452)
Core deposit intangibles	(21,182)			(23,619)			(26,057)			(28,495)			(30,933)
Tangible common equity	$	1,182,380		$	1,120,545		$	1,108,006		$	1,098,376		$	1,055,781
Tangible Assets
Total assets	$	13,042,976		$	12,684,330		$	12,708,396		$	12,394,337		$	12,346,331
Adjustments:
Goodwill	(404,452)			(404,452)			(404,452)			(404,452)			(404,452)
Core deposit intangibles	(21,182)			(23,619)			(26,057)			(28,495)			(30,933)
Tangible Assets	$	12,617,342		$	12,256,259		$	12,277,887		$	11,961,390		$	11,910,946
Tangible Common Equity to Tangible Assets	9.37		%	9.14		%	9.02		%	9.18		%	8.86		%

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Return on Average Tangible Common Equity. Return on average tangible common equity is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) net income available for common stockholders adjusted for amortization of core deposit intangibles (which we refer to as “return”) as net income, plus amortization of core deposit intangibles, less tax benefit at the statutory rate; (b) average tangible common equity as total average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization; and (c) return (as described in clause (a)) divided by average tangible common equity (as described in clause (b)). For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity.

We believe that this measure is important to many investors in the marketplace who are interested in the return on common equity, exclusive of the impact of core deposit intangibles. Goodwill and core deposit intangibles have the effect of increasing total stockholders’ equity while not increasing our tangible common equity. This measure is particularly relevant to acquisitive institutions that may have higher balances in goodwill and core deposit intangibles than non-acquisitive institutions.

The following table reconciles, as of the dates set forth below, average tangible common equity to average common equity and net income available for common stockholders adjusted for amortization of core deposit intangibles, net of taxes to net income and presents our return on average tangible common equity:


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023			Sep 30, 2024			Sep 30, 2023
	(Dollars in thousands)
Net income available for common stockholders adjusted for amortization of core deposit intangibles
Net income	$	31,001		$	27,202		$	24,156		$	3,499		$	32,621		$	82,359		$	104,762
Adjustments:
Plus: Amortization of core deposit intangibles	2,438			2,438			2,438			2,438			2,438			7,314			7,314
Less: Tax benefit at the statutory rate	512			512			512			512			512			1,536			1,536
Net income available for common stockholders adjusted for amortization of core deposit intangibles	$	32,927		$	29,128		$	26,082		$	5,425		$	34,547		$	88,137		$	110,540

Average Tangible Common Equity
Total average stockholders' equity	$	1,583,401		$	1,541,609		$	1,533,868		$	1,510,286		$	1,508,170		$	1,553,070		$	1,498,573
Adjustments:
Average goodwill	(404,452)			(404,452)			(404,452)			(404,452)			(404,452)			(404,452)			(404,452)
Average core deposit intangibles	(22,789)			(25,218)			(27,656)			(30,093)			(32,540)			(25,212)			(34,939)
Average tangible common equity	$	1,156,160		$	1,111,939		$	1,101,760		$	1,075,741		$	1,071,178		$	1,123,406		$	1,059,182
Return on Average Tangible Common Equity (Annualized)	11.33		%	10.54		%	9.52		%	2.00		%	12.80		%	10.48		%	13.95		%

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Operating Earnings, Pre-tax, Pre-provision Operating Earnings and performance metrics calculated using Operating Earnings and Pre-tax, Pre-provision Operating Earnings, including Diluted Operating Earnings per Share, Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Loans, Operating Return on Average Tangible Common Equity and Operating Efficiency Ratio. Operating earnings, pre-tax, pre-provision operating earnings and the performance metrics calculated using these metrics, listed below, are non-GAAP measures used by management to evaluate the Company’s financial performance. We calculate (a) operating earnings as net income plus severance payments, plus loss on sale of debt securities AFS, net, plus M&A expenses less tax impact of adjustments, plus nonrecurring tax adjustments. We calculate (b) diluted operating earnings per share as operating earnings as described in clause (a) divided by weighted average diluted shares outstanding. We calculate (c) pre-tax, pre-provision operating earnings as operating earnings as described in clause (a) plus provision for income taxes, plus provision (benefit) for credit losses and unfunded commitments. We calculate (d) pre-tax, pre-provision operating return on average assets as pre-tax, pre-provision operating earnings as described in clause (a) divided by total average assets. We calculate (e) operating return on average assets as operating earnings as described in clause (a) divided by total average assets. We calculate (f) operating return on average tangible common equity as operating earnings as described in clause (a), adjusted for the amortization of intangibles and tax benefit at the statutory rate, divided by total average tangible common equity (average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization). We calculate (g) operating efficiency ratio as noninterest expense plus adjustments to operating noninterest expense divided by noninterest income plus adjustments to operating noninterest income, plus net interest income.

We believe that these measures and the operating metrics calculated utilizing these measures are important to management and many investors in the marketplace who are interested in understanding the ongoing operating performance of the Company and provide meaningful comparisons to its peers.

The following tables reconcile, as of the dates set forth below, operating net income and pre-tax, pre-provision operating earnings and related metrics:


	For the Quarter Ended										For the Nine Months Ended
	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
	(Dollars in thousands, except per share data)
Operating Earnings
Net income	$	31,001	$	27,202	$	24,156	$	3,499	$	32,621	$	82,359	$	104,762
Plus: Severance payments1	1,487		613		—		—		—		2,100		1,950
Plus: Loss on sale of AFS securities, net	—		—		6,304		—		—		6,304		5,321

Plus: Equity method investment write-down	—		—		—		29,417		—		—		—
Plus: FDIC special assessment	—		134		—		768		—		134		—



Operating pre-tax income	32,488		27,949		30,460		33,684		32,621		90,897		112,033
Less: Tax impact of adjustments	307		166		1,323		2,059		—		1,796		1,544


Plus: Nonrecurring tax adjustments	—		527		—		—		—		527		—
Operating earnings	$	32,181	$	28,310	$	29,137	$	31,625	$	32,621	$	89,628	$	110,489

Weighted average diluted shares outstanding	54,932		54,823		54,842		54,691		54,597		54,866		54,563
Diluted EPS	$	0.56	$	0.50	$	0.44	$	0.06	$	0.60	$	1.50	$	1.92
Diluted operating EPS	$	0.59	$	0.52	$	0.53	$	0.58	$	0.60	$	1.63	$	2.02

1 Severance payments relate to certain restructurings made during the periods disclosed.


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023			Sep 30, 2024			Sep 30, 2023
	(Dollars in thousands)
Pre-Tax, Pre-Provision Operating Earnings
Net income	$	31,001		$	27,202		$	24,156		$	3,499		$	32,621		$	82,359		$	104,762
Plus: Provision for income taxes	8,067			8,221			7,237			6,004			9,282			23,525			30,019
Plus: Provision for credit losses and unfunded commitments	4,000			8,250			5,959			8,000			7,718			18,209			32,471
Plus: Severance payments	1,487			613			—			—			—			2,100			1,950
Plus: Loss on sale of AFS securities, net	—			—			6,304			—			—			6,304			5,321
Plus: Equity method investment write-down	—			—			—			29,417			—			—			—
Plus: FDIC special assessment	—			134			—			768			—			134			—

Pre-tax, pre-provision operating earnings	$	44,555		$	44,420		$	43,656		$	47,688		$	49,621		$	132,631		$	174,523

Average total assets	$	12,861,918		$	12,578,706		$	12,336,042		$	12,306,634		$	12,259,062		$	12,593,206		$	12,274,697
Pre-tax, pre-provision operating return on average assets1	1.38		%	1.42		%	1.42		%	1.54		%	1.61		%	1.41		%	1.90		%

Average loans	$	9,661,774		$	9,765,428		$	9,563,372		$	9,581,784		$	9,625,005		$	9,663,518		$	9,594,996
Pre-tax, pre-provision operating return on average loans1	1.83		%	1.83		%	1.84		%	1.97		%	2.05		%	1.83		%	2.43		%

Average total assets	$	12,861,918		$	12,578,706		$	12,336,042		$	12,306,634		$	12,259,062		$	12,593,206		$	12,274,697
Return on average assets1	0.96		%	0.87		%	0.79		%	0.11		%	1.06		%	0.87		%	1.14		%
Operating return on average assets1	1.00			0.91			0.95			1.02			1.06			0.95			1.20

Operating earnings adjusted for amortization of core deposit intangibles
Operating earnings	$	32,181		$	28,310		$	29,137		$	31,625		$	32,621		$	89,628		$	110,489
Adjustments:
Plus: Amortization of core deposit intangibles	2,438			2,438			2,438			2,438			2,438			7,314			7,314
Less: Tax benefit at the statutory rate	512			512			512			512			512			1,536			1,536
Operating earnings adjusted for amortization of core deposit intangibles	$	34,107		$	30,236		$	31,063		$	33,551		$	34,547		$	95,406		$	116,267

Average Tangible Common Equity
Total average stockholders' equity	$	1,583,401		$	1,541,609		$	1,533,868		$	1,510,286		$	1,508,170		$	1,553,070		$	1,498,573
Adjustments:
Less: Average goodwill	(404,452)			(404,452)			(404,452)			(404,452)			(404,452)			(404,452)			(404,452)
Less: Average core deposit intangibles	(22,789)			(25,218)			(27,656)			(30,093)			(32,540)			(25,212)			(34,939)
Average tangible common equity	$	1,156,160		$	1,111,939		$	1,101,760		$	1,075,741		$	1,071,178		$	1,123,406		$	1,059,182
Operating return on average tangible common equity1	11.74		%	10.94		%	11.34		%	12.37		%	12.80		%	11.34		%	14.68		%

Efficiency ratio	61.94		%	59.11		%	62.45		%	77.49		%	54.49		%	61.15		%	50.88		%
Operating efficiency ratio
Net interest income	$	100,062		$	96,236		$	92,806		$	95,533		$	99,361		$	289,104		$	303,581
Noninterest income	13,106			10,578			6,662			(17,792)			9,674			30,346			36,897


Plus: Loss on sale of AFS securities, net	—			—			6,304			—			—			6,304			5,321
Plus: Equity method investment write-down	—			—			—			29,417			—			—			—
Operating noninterest income	13,106			10,578			12,966			11,625			9,674			36,650			42,218
Noninterest expense	70,100			63,141			62,116			60,238			59,414			195,357			173,226
Less: FDIC special assessment	—			134			—			768			—			134			—
Less: Severance payments	1,487			613			—			—			—			2,100			1,950

Operating noninterest expense	$	68,613		$	62,394		$	62,116		$	59,470		$	59,414		$	193,123		$	171,276
Operating efficiency ratio	60.63		%	58.41		%	58.73		%	55.50		%	54.49		%	59.28		%	49.53		%

1 Annualized ratio for quarterly metrics.

a3q24investorpresentatio

2 Forward-Looking Statements This presentation includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment of Veritex’s quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; turmoil in the banking industry, responsive measures to mitigate and manage such turmoil and related supervisory and regulatory actions and costs and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2023 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue. This presentation also includes industry and trade association data, forecasts and information that Veritex has prepared based, in part, upon data, forecasts and information obtained from independent trade associations, industry publications and surveys, government agencies and other information publicly available to Veritex, which information may be specific to particular markets or geographic locations. Some data is also based on Veritex's good faith estimates, which are derived from Veritex management's knowledge of the industry, markets and independent sources. Industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Veritex believes these sources are reliable, Veritex has not independently verified the information contained therein. While Veritex is not aware of any misstatements regarding the industry data, forecasts and information included in this presentation, such data forecasts, and information and Veritex's estimates based thereon involve risks, assumptions and uncertainties and are subject to change based on various factors. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise such data forecasts, and information and Veritex's estimates based thereon, whether as a result of new information, future developments or otherwise, except as required by law. This presentation contains certain non-GAAP (generally accepted accounting principles) financial measures, including tangible book value per common share (“TBVPS”), tangible common equity to tangible assets, return on average tangible common equity (“ROATCE”), operating earnings, pre-tax, pre-provision (“PTPP”) operating earnings, diluted operating earnings per shares (“EPS”), operating return on average assets (“ROAA”), PTPP operating ROAA, Operating ROATCE, operating efficiency ratio, operating noninterest income, operating noninterest expense and adjusted net interest margin (“NIM”). Veritex’s management uses these non-GAAP financial measures to evaluate its operating performance and provide information that is important to investors. The non-GAAP financial measures that Veritex discusses in this presentation should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP. Use of Non-GAAP Financial Measures

3 2024 Third Quarter Highlights TotalBalance Sheet1 $9.7Total Loans $11.0Total Deposits 1 Total loans and deposits $ in billions as of June 30, 2024. 2 Refer to the reconciliation of Non-GAAP financial measures at the end of this presentation. 3 Net income $ in millions. Key Highlights • Operating EPS increased to $0.59 from $0.52 in 2Q24 • ROAA increased to 1.00% from 0.91% in 2Q24 • Pre-tax Pre-provision = $44.6 Million • 1.38% PTPP Return on Average Assets • NPAs decreased 13 basis points from 2Q24 to 0.52% of total assets • Deposits grew $311.2 Million, or 11.6% linked quarter annualized • CET1 grew 37 bps to 10.86% • NIM expanded to 3.30% • 7.2% linked quarter revenue growth 3Q2423Q24 OperatingReported Key Performance Metrics $32.2$31.0Net Income3 $0.59$0.56Diluted EPS 1.00%0.96%ROAA 11.74%11.33%ROATCE 60.63%61.94%Efficiency Ratio 3rd Quarter 2024 Results

4 (line chart represents ADC as a % of RBC) Total ACL (% ACL to Total Loans2) Strengthening the Balance Sheet 94.9% 93.6% 91.7% 91.8% 88.0% 90.7% 89.1% 86.9% 85.9% 81.9% 3Q23 4Q23 1Q24 2Q24 3Q24 Loan to Deposit Ratio 21.0% 20.4% 19.4% 18.9% 15.7% 3Q23 4Q23 1Q24 2Q24 3Q24 Reliance on Wholesale Funding1 ($ in millions) $109,831 $109,816 $112,032 $113,431 3Q23 4Q23 1Q24 2Q24 3Q24 10.11% 10.29% 10.37% 10.49% 10.86% 3Q23 4Q23 1Q24 2Q24 3Q24 CET1 / Total RWA $10,197 $10,338 $10,654 $10,725 $11,036 3Q23 4Q23 1Q24 2Q24 3Q24 Deposit Growth $117,162 1.14% 1.21% (line chart represents LDR, excluding MW loans) 317.0% 320.2% 318.8% 320.2% 302.3%115.9% 118.7% 108.3% 107.2% 97.1% 295.00% 300.00% 305.00% 310.00% 315.00% 320.00% 325.00% 330.00% $0.80 $1.30 $1.80 3Q23 4Q23 1Q24 2Q24 3Q24 CRE Concentration as % of RBC 1 Reliance on wholesale funding % is calculated at the Veritex Community Bank level. 2 % ACL to Total Loans, excluding MW, is 1.30% as of September 30, 2024. ($ in thousands) 3rd Quarter 2024 Results

5 Credit Quality Summary • 2024 YTD annualized net charge-offs are 0.17% • 3Q24 annualized net charge-offs are 0.01% • NPA / Total Assets decreased 13 bps to 0.52% quarter over quarter 3Q23 4Q23 1Q24 2Q24 3Q24 0.00% 0.10% 0.20% 0.30% 30-59 Past Due 60-89 Past Due 90+ Past Due $24,430$15,322$22,581$60,459$27,158Totals: Past Due Trend % of Total Loans1 Net Charge-off Acquired/Originated Lookback ($ in millions) ($ in millions) $79.9 $95.8 $103.8 $83.0 $67.3 0.65% 0.77% 0.82% 0.65% 0.52% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% 3Q23 4Q23 1Q24 2Q24 3Q24 NPAs NPAs/Total Assets NPAs / Total Assets 1 Total loans excludes Loans Held for Sale and MW loans. 2 Net charge-offs are annualized for 1Q24 and 2Q24. 0.01%0.28%0.22%0.25%0.16%0.38%0.36%0.19%NCOs2 0.19% 0.36% 0.29% 0.16% 0.04% 0.21% 0.16% 0.01% 0.09% 0.21% 0.01% 0.12% 2019 2020 2021 2022 2023 1Q24 2Q24 3Q24 Acquired NCOs Originated NCOs 3rd Quarter 2024 Results

6 Credit Quality Summary • Criticized loans = $485.4 million, down $13.0 million quarter over quarter • Criticized assets = $494.4 million, down $28.3 million quarter over quarter ($ in millions, excluding PCD loans) Quarterly Criticized Loans $304.5 $293.4 $350.3 $339.9 $283.5 $223.4 $213.2 $174.1 $158.5 $201.9 3Q23 4Q23 1Q24 2Q24 3Q24 Special Mention Substandard (continued) Commercial Real Estate Criticized Loans Breakdown as of September 30, 2024 33% 16% 23% 12% 16% CRE Office CRE Retail CRE Hotel CRE Industrial CRE Other Total CRE Criticized $300.7 million, down 3.5% from 2Q24 $498.4 $485.4 $527.9 $506.6 $524.4 3rd Quarter 2024 Results

7 Allowance For Credit Losses Summary • General reserve reflects current National economic outlook on economy and recessionary risk • Consistent Moody’s forecast weighting utilized in the 3Q24 ACL calculation compared to 2Q24 with 75% weighting on downside scenarios • General reserves represent 97% of the total ACL • Q-Factors represent 47 bps of the general reserve 1.21% Coverage // ACL increase of 25 bps from 4Q22 Loan balances subject to the ACL methodology declined just over 1.25% from June 2024 ACL increased $3.7 Million from 2Q24 ACL / Total Loans, excluding MW = 1.30% 0.96% 1.00% 1.05% 1.14% 1.14% 1.15% 1.16% 1.21% 1.01% 1.07% 1.10% 1.19% 1.19% 1.21% 1.23% 1.30% 0.90% 0.95% 1.00% 1.05% 1.10% 1.15% 1.20% 1.25% 1.30% 1.35% 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 ACL to Total Loans ACL to Total Loans, excluding MW ACL Coverage Trend Analysis 3rd Quarter 2024 Results

8 Capital Summary • CET1 increase primarily driven by earnings and a decrease in risk weighted assets which were down $160.2 million, or 1.4%, from 2Q24 • Nominal activity utilizing the stock buyback program • TBV increased to $21.72 quarter over quarter VHI Capital Levels Bps 2Q24 Capital $ 2Q24 Ratio % 3Q24 Capital $ 3Q24 Ratio % Capital Ratio 37 bps$1,200.810.49%$1,226.610.86% CET1 Capital 38 bps$1,230.810.75%$1,256.711.13% Tier 1 Capital 46 bps$1,540.413.45%$1,570.013.91% Total Capital Tangible Book Value Trend since IPO in 2014 9.3%CAGR 11.1% CAGR adding back dividends1 1 Total dividends of $193.9 million included in the CAGR calculation. CET1 at 10.86%, up 37 bps quarter over quarter VHI Risk Weighted Assets Trend $12,000 $11,986 $11,742 $11,617 $11,388 $11,407 $11,451 $11,291 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 ($ in Millions) $8.96 $9.59 $13.82 $12.75 $14.74 $14.73 $15.70 $17.49 $18.64 $20.21 $21.72 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 3Q24 3rd Quarter 2024 Results ($ in Millions)

9 Year To Date Change in Deposits Deposits Summary • LDR decreased to 88.0% at the end of 3Q24 • LDR, excluding MW loans, decreased to 81.9% at the end of 3Q24 • $2.6 billion in time deposits mature over the next 2 quarters at an average rate of 5.14% 8 Quarter Term Funding Maturity Schedule $1,238,239 $1,401,103 $553,369 $381,500 $11,426 $7,195 $3,281 $3,029 5.22% 5.06% 4.95% 4.64% 4.18% 3.79% 3.04% 3.00% 0.08% 1.08% 2.08% 3.08% 4.08% 5.08% 6.08% 7.08% 8.08% 0.00%294231 63588463 268 2694 891176926.524 1158 15765389 782059 413 38 .046480 679 2 1 303236547 93%5 077 .56825 1 1941192 2 824 34 4 45707 06.0850 193 71296169 345 0 0 978846 .6061788 234 3095 86%767327 4970 155 .123557 756 0 2 389442 4 01823848 .645 2 1 27826948 9091 11 0 53415 .167096 3 79%100 3875 42298 07 055 233 .688865 3111 0 1 944750 5776926 .20120 3496 83357728 466 19 0 099461 .72%32 0 3 35534654 9882888 61141 3 1 .24417349 877 15 1 505005 133 00 .76594276 39888 08 02161 273 65%4769 .287 1 2 9170654 4 5435966 176 3897.80948129 43182 23 1 065365 698 0 .329125055 9541928 58%7 3 1 21200077 0.843 19 2 47596 4 108 044 731184677.36478 08 997 31 62220673 253 1 3.88655835 51%9 006 14324429 775385 0.408 27 2 03241269 664 1 2 29715456.925009688 553 3 185981 1 818 23 3.44%26186 15 074 084 7077507 337069 09.963 35 596577 229 2 4 8528246236.485 0468 1183469 7491289 1 37%4 31 3.007173 63300 1 2 26305857 896 0089.52894 1511885 2 784 27 4 41777 16.04320 124 6736547 30%659 0 939 39 .5632481 195 2 05 82836637 45341 0869.08425 717193 2 3450 35 3 9730779 .606 202 23%896258 86361 04 0 49484 .127789 7570 3185 38367 17 016 164 .649558 27382 0 1 905443 3 5383857 .16%91 2 06 79427038 427 12 0 0540015 .683097 316 3964 9489819 5711 242 .20486659 837 08 1 4642075 3 09%3693 .726 3586 35957 17 9832 204 615462 .248 0 2 87441347 4 5042897 137 3 0 .765017439 393 16 1 02%605 659 01 .2846194365 91488597 547 282 1770770 0.803 12 2 43665 4 0695975 69482 398 .32548 18 95%8 24 5891366 214 0 3.84725145 4750019377 103 3 0 736078 0.369 20 1 991196 624 053 25784766.88%52078998 513 32 146674 779 16 3.403255 25 035 015 6684438 2954138 19.924 28 1 557270 1850 1 4 81%315546.44609778 079 4 0 70561982 334 24 2.96786 5970 093 22375167 85669399.489 36 1 11582578 74%5 20 4 37846 26.0091 055 6343478 26729 0 89600 32 2.523174 156 1 15 78905947 4112 0179.04494 67%7886 30620 28 3 93377 0 .566 133 19965568 823259 0 455 40 2.088482 71641 2495 34436726 977 095 .60%50251 23319 1 866 36 3 4990788 .12662 2 1 75496348 387 05 0 017084 .643790 276 3274 90967 06 53%682 173 .16555969 798 0 1 4291444 3 054386 .687 289 3170027127 943 135 576155 .20909 2 8312 40 4 46%498286 097 2 1 .7272086749 353 09 0 98675 619694 .2432 3675 87557 07 508 213 13741463 .764 0 2 39%7348 4 02502906 653 329 .28617528 919 17 0 54762059 175 0 3.80794455 437088687 063 2 1 696771 .32%9 13 1 9578265 5855984 218 4076.849148 08 474 25 0 107367 73800 1 3.36325234 9961946 629 369 25%1207929.885 21 1 517963 14820 0 77384856.40679088 039 3 1 6632675 295 17 2.92856 4 55841 024 18%444477 81738 09.4450 29 1 073271 706 1 33915635.968620986 595 409 227983 0 8570 25 2.483867 4 11%6 1 2 74975257 3788269489.005 3 638579 2691 21 3 89446 15.527 064 1590034878 78329 0 416 33 2.04%9175 6712 1 0 30506036 938 026 .5692094 193887 1 826 29 3 45977195.0832 142 71565658 34859889 97%941 4 .604483 237 25 4 865036 16 493 104 .1262527 75919 1 38962 37 3 015079 .648 2 0 277096437 90%3 0669 53684 .169791 2 79982 33 4 42567596 058 182 .68915605 314 02 0 94744 571000387 .203 2985 83%627 17 469 1449 0912156 .72509 2 358 41 3 9810209837 613 2 0 .24686838 879 10 0 503275 135695 .76%8 3765 39104157997 024 222 657464 .2850 06 1 91334 3 5462915 179 3386.80106217 18 435 18 0 068060 69%71 0 .32394544 9568877 589 3 0 21108277239.845 14 1 47865 3 1091599 734 4166.36748397 99100 262 62%1 3368 256 10 2.88925 4 51121955 145 378 77808 19.40121 22 1 031 3964 666 0 29984945.923279177 55%5 3 0 188676 0 81141 18 2.441 456 4 077 033 70504456 33338798.966 30 599272 22162 14 3 851 515 25.48%809957 1171 418 74398 0 376 26 2.009868 63182 1 1 261 575346 89869578.5291 3 154580 1 787 22 3 41%20046 05.043 073 671 63496 30929199 9312 34 .565176 198 18 4 8222106 26 454 0358.081 69458 71988 1 34%32 30 2 975772 .608 1 1 2324165747 86459979 491 7 4 .1250484 753 26 4 38636 06 019 113 .642622536 27%519 0 901 8 38 2 5371080 .164 2295 79696527 429 0759 05282849 .68579 311 8 34 3 94916768 574 1 1 .20%756148 83300 03 0 46344 2 096388 .721 9 3075 351227 06 985 153 618157 .24321 0 1 874042 3 5069846 13%1 9 269 .763286928 395 11 0 028753 6534169 .284 3854 91758086 541 50 2 1 17346549.806 07 1 43935 3 06%362292 695 347 .32817 07 951 71 193 584061 217 0 2.849946 4 4738288866 105 309 73877329.361 91 15 0 99%4657 627 0 2540054255.88348487 516 2 1 149369 771 12 11 2.40525 4 0381964 66421 387 29408 08.92%7 23 0 559965 181 32 0 3 81585035.44879267 07441 349 704677 337 19 1.9650561 591 3 0 2 22644656 85%938888.48462 3 0 115273 748 15 3 377115 15.00 Amount Wtd Avg Rate 12 Month Trend of Total Cost of Deposits Non Interest DDA Interest Bearing Checking Money Market Accounts Savings Wholesale Deposits Time Deposits $443.1 ($ in Millions) ($17.0) 3.33% 3.35% 3.41% 3.44% 3.40% 3.41% 3.42%3.42% 3.49% 3.48% 3.47% 3.44% 3.37% Total Cost of Deposits $184.1 $460.7 ($291.1) 3rd Quarter 2024 Results ($82.0)

10 Deposit Overview Year to Date Summary • Deposit growth was driven by $397 million in attractive priced deposit production at an average rate of 2.88% during 3Q24 • Reduced wholesale deposits by $294 million in 3Q24 to bring reliance on wholesale funding at the Bank level to 15.7% • Good quarter remixing deposits as the strong attractive deposits drove a $411 million reduction in brokered and public funds ($ in millions) 16.2% 2024 annualized growth in Non-Brokered Deposits 3rd Quarter 2024 Results $8 ,1 72 $8 ,0 48 $8 ,1 67 $8 ,2 84 $8 ,3 52 $8 ,4 94 $8 ,6 10 $8 ,5 03 $8 ,5 89 $8 ,6 77 $8 ,7 66 $9 ,1 87 $9 ,2 91 $9 ,3 84 Total Non-Brokered Deposits

11 CRE Fixed Rate Maturities Year To Date Change in Loans Loans Summary • Total loans, excluding loans held for sale, grew $74.3 million year to date • Year to date change in loans driven by a $252.9 million increase in MW loans and $132.2 million increase in Multifamily offset by a $297.7 million decrease in construction loans Quarterly Loan Commitment Production and Commitment Payoffs Commercial and Industrial (“C&I”) Owner occupied commercial (“OOCRE”) Non-owner occupied commercial (“NOOCRE”) Construction and land 1-4 family residential Multi-family residential MW Other $252.9 $317.0 $327.3 $282.3 $704.2 $552.9 $380.6 $490.0 $224.8 $552.9 $454.0 Quarterly Loan Production / Outstanding Balance Quarterly Loan Payoffs / Outstanding Balance $124,425 $101,952 $130,361 $46,808 $53,040 $61,868 $84,247 5.40% 4.64% 7.76% 5.03% 3.99% 3.79% 3.79% - 50,000 100,000 150,000 200,000 250,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Outstanding Balance Average Note Rate $189,381 $145,248 $114,397 $125,077 $217,352 $15,323 $166,850 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 (40,000) 60,000 160,000 260,000 360,000 460,000CRE Variable Rate Maturities ($ in Thousands) $12.2 ($297.7) $132.3 ($ in Millions) 3rd Quarter 2024 Results ($12.6)($23.5) $7.6 $2.3

12 CRE By Type TotalADCTerm 1,188,853 450,763 738,090 Multifamily 1,114,963 497,469 617,494 Whs/Industrial 663,447 31,220 632,227 Retail 517,495 13,017 504,478 Office 435,064 32,977 402,087 Hotel 332,106 332,106 -SFR 197,702 15,278 182,424 Commercial and Other 4,532,8721,456,0723,076,800Total Breakdown of CRE by Term and ADC % TotalOOS 3%136,810 8%340,870 4%178,686 1%32,205 2%84,631 -11,853 1%30,854 19%815,909 Out of State Term/ADC as % of Total CRE ($ in thousands) ($ in thousands) 3rd Quarter 2024 Results

13 Out of State Exposure Breakdown of Out of State % of Total$9,667,442Total Loans 11.1%$1,072,509National Businesses1 300,802Mortgage Warehouse 240,232Mortgage Servicing Rights 531,137Lender Finance 136.103Specialty Finance 201.997USDA and SBA 2.6%$249,603Mortgage 10.7%$1,031,303Out of State 8.4%815,909Texas CRE Developers 2.2%215,394 C&I / Shared National Credits ($ in thousands) 3rd Quarter 2024 Results

14 Net Interest Income Summary • 3Q24 NIM – 3.30%, up 1 bp from 2Q244 • 3Q24 Total Loans Yield – 6.89% • Average Cost of Total Deposits – 3.42%, down 4 bps from 2Q24 • Average earnings assets increased to $12.0 billion as of 3Q24, up 2.5% from 2Q24 $95.5 $92.8 $96.2 $100.1 3.46% 3.31% 3.24% 3.29% 3.30% 3Q23 4Q23 1Q24 2Q24 3Q24 Net Interest Income ("NII") NIM $100.8 NII / NIM Trend $96,2362Q24 Net Interest Income 1,368Impact of loan rate changes 1,306Impact of change in net volume 1,099Impact of change in day count 53Other $100,0623Q24 Net Interest Income ($ in thousand) Net Interest Income Rollforward Interest Rate Sensitivity1 1 Interest rate sensitivity is calculated using a static rate shock. ($ in Millions) 3rd Quarter 2024 Results 3Q24 3Q24 Interest Rate Scenario Percentage Change From Base EVE Shock Scenerio Percentage Change From Base Up 200 bps 6.98% Up 200 bps -3.28% Up 100 bps 3.53% Up 100 bps -1.18% BASE CASE 0.00% BASE CASE 0.00% Down 100 bps -2.94% Down 100 bps -0.60% Down 200 bps -5.68% Down 200 bps -3.54%

15 Investments and Liquidity Summary • Represents 10.9% of total assets • 87.3% in AFS securities • Effective duration = 3.6 Years • 3Q24 portfolio yield = 4.55% • Uninsured and uncollateralized deposits was 32.6% on September 30, 2024 Debt Investments as % of Total Assets 89.1% 10.9% Other Assets Investment Portfolio Total Assets: $13.0 Billion Sources of Liquidity as of September 30, 2024 Current on-balance sheet: $1,100,790Cash and equivalents 133,045Unpledged AFS securities 1,233,835Total on-balance sheet 150,000Fed Funds borrowing capacity 2,281,676FHLB remaining borrowing capacity 3,310,427Federal Reserve discount window 472,076Brokered deposits available1 6,214,179Total available sources $7,448,014Total Liquidity 1 Brokered deposits available is driven by Company policy and not market availability. Total Available Liquidity $4,196 $5,321 $6,256 $6,197 $6,355 $6,504 $7,448 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 ($ in thousands) ($ in millions) 3rd Quarter 2024 Results

16 Operating Noninterest Income Noninterest Income and Expense Operating Noninterest Expense 42% 25% 6% 2% 25% Service charges and fees on deposit accounts Loan fees Government guaranteed loan income, net Customer swap income Other income 52% 7% 7% 8% 4% 4% 18% Salaries and employee benefits Occupancy and equipment Professional and regulatory fees Data processing and software expense Marketing Amortization of intangibles Other $68.6 Million $13.1 Million 3rd Quarter 2024 Results Summary • 3Q24 operating noninterest income = $13.1 Million, up 24% from 2Q24 • 3Q24 operating noninterest expense = $68.6 Million • Increase in operating noninterest expenses are primarily driven by increasing the incentive accrual to 80% of target, OREO expenses and marketing

17 Building a Fortress Balance Sheet $ in millions Indicator Q4 2022 Q2 2023 Q3 2024 Change Since Q2 2023 Trend Deposits 9,142$ 9,250$ 11,062$ 1,812$ IMPROVED Loans 9,504$ 9,723$ 9,708$ (15)$ IMPROVED Non-Brokered Deposits 7,815$ 7,475$ 9,296$ 1,821$ IMPROVED Loans / Deposits 100.6% 105.1% 87.8% -17.3% IMPROVED Loans / Deposits (excluding MWH) 99.1% 100.4% 82.1% -18.3% IMPROVED Cash/Due From 436$ 664$ 1,101$ 437$ IMPROVED Reliance on Wholesale 24.1% 29.2% 15.7% -13.5% IMPROVED NonCore Dependence 27.3% 31.8% 16.5% -15.3% IMPROVED VHI CET1 9.09% 9.76% 10.86% 1.10% IMPROVED CRE Concentration 325.0% 327.2% 302.3% -24.9% IMPROVED ADC Concentration 131.5% 115.2% 97.1% -18.1% IMPROVED ADC Unfunded $ 2,113$ 1,374$ 675$ (699)$ IMPROVED ACL Build 0.96% 1.05% 1.21% 0.16% IMPROVED Available Liquidity + Cash 3,569$ 5,321$ 7,385$ 2,064$ IMPROVED

19 Reconciliation of Non-GAAP Financial Measures

20 Reconciliation of Non-GAAP Financial Measures

21 Reconciliation of Non-GAAP Financial Measures

22 Reconciliation of Non-GAAP Financial Measures

23 Reconciliation of Non-GAAP Financial Measures

Document

Exhibit 99.3

https://cdn.kscope.io/6afc9efb6cf60374661ad84a4d36add5-veritexseclogoa.jpg

PRESS RELEASE

FOR IMMEDIATE RELEASE

Veritex Holdings, Inc. Declares Cash Dividend on Common Stock

Dallas, TX – October 22, 2024 – Veritex Holdings, Inc. (Nasdaq: VBTX) (“Veritex” or the “Company”), the parent holding company for Veritex Community Bank, today announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after November 22, 2024 to shareholders of record as of November 8, 2024.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Forward Looking Statement

This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements include statements regarding Veritex’s projected plans and objectives, including the expected payment date of its common stock dividend. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “seek,” “plan,” “outlook,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may”, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time and are beyond Veritex’s control. Forward-looking statements speak only as of the date they are made and Veritex assumes no duty to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Source: Veritex Holdings, Inc.

Investor Relations:

972-349-6132

investorrelations@veritexbank.com