0001501570-24-000191 | 10-Q | XBRL Viewer

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 accompanying consolidated balance sheets and in the net change in each of these financial statement line items in the

accompanying 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 other noninterest income and the operating section of the 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 or interest expense when the forecasted transaction affects income. The notional amounts and estimated fair values as of September 30, 2024 and December 31, 2023 are as shown in the table below.


	September 30, 2024						December 31, 2023
			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	$	4,693	$	—	$	250,000	$	12,208	$	—
Interest rate swaps on variable rate funding sources	275,000		—		4,773		200,000		—		4,296
Interest rate swaps on customer loan interest payments	375,000		—		30,989		375,000		—		40,055
Interest rate collars on customer loan interest payments	450,000		1,925		716		450,000		2,304		2,770
Interest rate floor on customer loan interest payments	200,000		3,434		—		200,000		4,302		—
Total derivatives designated as hedging instruments	$	1,550,000	$	10,052	$	36,478	$	1,475,000	$	18,814	$	47,121

Derivatives not designated as hedging instruments:
Financial institution counterparty:
Interest rate swaps	$	862,120	$	14,846	$	4,790	$	893,702	$	28,007	$	2,322
Interest rate caps and corridors	127,870		190		—		285,370		1,344		—
Commercial customer counterparty:
Interest rate swaps	862,120		4,494		14,135		893,702		2,118		27,288
Interest rate caps and corridors	127,870		—		190		285,370		—		1,344
Total derivatives not designated as hedging instruments	$	1,979,980	$	19,530	$	19,115	$	2,358,144	$	31,469	$	30,954
Offsetting derivative assets/liabilities	—		(22,218)		(22,218)		—		(29,463)		(29,463)
Total derivatives	$	3,529,980	$	7,364	$	33,375	$	3,833,144	$	20,820	$	48,612

Pre-tax (loss) gain included in the consolidated statements of income and related to derivative instruments for the three and nine months ended September 30, 2024 and 2023 were as follows.


	For the Three Months Ended September 30, 2024						For the Three Months Ended September 30, 2023
	(Loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income		(Loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on borrowing advances	$	(1,106)	$	1,106	Interest Expense		$	(1,105)	$	1,105	Interest Expense
Interest rate swap on money market deposit account payments	(8,007)		3,535		Interest Expense		(1,751)		3,035		Interest Expense
Interest rate swaps, collars and floors on customer loan interest payments	19,654		(5,668)		Interest Income		(9,060)		(5,260)		Interest Income
Total	$	10,541	$	(1,027)			$	(11,916)	$	(1,120)

					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					$	271					$	180


	For the Nine Months Ended September 30, 2024						For the Nine Months Ended September 30, 2023
	(Loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income		Gain (loss) recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on borrowing advances	$	(3,293)	$	3,293	Interest Expense		$	(3,281)	$	3,281	Interest Expense
Interest rate swap on money market deposit account payments	(7,993)		10,491		Interest Expense		(4,358)		8,469		Interest Expense
Interest rate swaps, collars and floors on customer loan interest payments	11,104		(16,535)		Interest Income		(12,233)		(13,773)		Interest Income
Total	$	(182)	$	(2,751)			$	(19,872)	$	(2,023)

					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					$	1,046					$	1,375

Cash Flow Hedges

We enter into cash flow hedge relationships to 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. To qualify for hedge accounting, a formal assessment is prepared to determine whether the hedging relationship, both at inception and on an ongoing basis, is expected to be highly effective in achieving offsetting cash flows attributable to the hedged risk during the term of the cash flow hedge. At inception a statistical regression analysis is prepared to determine hedge effectiveness. At each reporting period thereafter, a statistical regression or qualitative analysis is performed. If it is determined that hedge effectiveness has not been or will not continue to be highly effective, then hedge accounting ceases and any gain or loss in AOCI is recognized in earnings immediately. The cash flow hedges are recorded at fair value in other assets and other liabilities on the consolidated balance sheets with changes in fair value recorded in AOCI, net of tax. Amounts recorded to AOCI are reclassified into earnings in the same period in which the hedged asset or liability affects earnings and are presented in the same income statement line item as the earnings effect of the hedged asset or liability.

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, caps and collars outstanding as of September 30, 2024 and December 31, 2023.


	September 30, 2024
	Notional Amount		Fixed Rate	Floating Rate	Maturity	Fair Value
Non-hedging derivative instruments:
Customer interest rate derivative:
Interest rate swaps - receive fixed/pay floating	$	862,120	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0% - 3.8% SOFR-NYFD 30 day avg + 2.5% - 3.0%	Wtd. Avg. 3.5 years	$	(9,642)
Interest rate caps and corridors	$	127,870	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	Wtd. Avg. 0.1 years	$	(190)

Correspondent interest rate derivative:
Interest rate swaps - pay fixed/receive floating	$	862,120	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0% - 3.8% SOFR-NYFD 30 day avg + 2.5% - 3.0%	Wtd. Avg. 3.5 years	$	10,056
Interest rate caps and corridors	$	127,870	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	Wtd. Avg. 0.1 years	$	190

	December 31, 2023
	Notional Amount		Fixed Rate	Floating Rate	Maturity	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 avg + 2.5% - 3.0%	Wtd. Avg. 4.1 years	$	(25,170)
Interest rate caps and corridors	$	285,370	3.5% - 7.5%	SOFR CME 1 month $0.0% - 2.5% SOFR + $0.0%	Wtd. Avg. 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 avg + 2.5% - 3.0%	Wtd. Avg. 4.1 years	$	25,685
Interest rate caps and corridors	$	285,370	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	Wtd. Avg. 0.8 years	$	1,344

Share Transactions (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Share Repurchases

Shares repurchased through the periods indicated are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numbers of shares repurchased	1,982		—		177,670		—
Weighted average price per share	$	20.24	$	—	$	19.91	$	—

Fair Value - Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets measured at fair value
AFS debt securities	$ 1,243,246	$ 1,076,639
Equity securities with a readily determinable fair value	10,106	9,897
Derivative asset	7,364	20,820
Derivative liability	33,375	48,612
Designated as Hedging Instrument
Assets measured at fair value
Derivative asset	10,052	18,814
Derivative liability	36,478	47,121
Non-hedging Derivatives
Assets measured at fair value
Derivative asset	19,530	31,469
Derivative liability	19,115	30,954
Recurring
Assets measured at fair value
AFS debt securities	1,243,246	1,076,639
Equity securities with a readily determinable fair value	10,106	9,897
LHFS	47,398	67,784
Recurring \| Level 1 Inputs
Assets measured at fair value
AFS debt securities	0	0
Equity securities with a readily determinable fair value	10,106	9,897
LHFS	0	0
Recurring \| Level 2 Inputs
Assets measured at fair value
AFS debt securities	1,243,246	1,076,639
Equity securities with a readily determinable fair value	0	0
LHFS	47,398	67,784
Recurring \| Level 3 Inputs
Assets measured at fair value
AFS debt securities	0	0
Equity securities with a readily determinable fair value	0	0
LHFS	0	0
Interest rate swaps \| Recurring \| Designated as Hedging Instrument
Assets measured at fair value
Derivative asset	10,052	18,814
Derivative liability	36,478	47,121
Interest rate swaps \| Recurring \| Level 1 Inputs \| Designated as Hedging Instrument
Assets measured at fair value
Derivative asset	0	0
Derivative liability	0	0
Interest rate swaps \| Recurring \| Level 2 Inputs \| Designated as Hedging Instrument
Assets measured at fair value
Derivative asset	10,052	18,814
Derivative liability	36,478	47,121
Interest rate swaps \| Recurring \| Level 3 Inputs \| Designated as Hedging Instrument
Assets measured at fair value
Derivative asset	0	0
Derivative liability	0	0
Interest rate swaps \| Financial Institution Counterparty \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	14,846	28,007
Derivative liability	4,790	2,322
Interest rate swaps \| Financial Institution Counterparty \| Recurring \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	14,846	28,007
Derivative liability	4,790	2,322
Interest rate swaps \| Financial Institution Counterparty \| Recurring \| Level 1 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	0	0
Derivative liability	0	0
Interest rate swaps \| Financial Institution Counterparty \| Recurring \| Level 2 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	14,846	28,007
Derivative liability	4,790	2,322
Interest rate swaps \| Financial Institution Counterparty \| Recurring \| Level 3 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	0	0
Derivative liability	0	0
Interest rate swaps \| Commercial Customer Counterparty \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	4,494	2,118
Derivative liability	14,135	27,288
Interest rate swaps \| Commercial Customer Counterparty \| Recurring \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	4,494	2,118
Derivative liability	14,135	27,288
Interest rate swaps \| Commercial Customer Counterparty \| Recurring \| Level 1 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	0	0
Derivative liability	0	0
Interest rate swaps \| Commercial Customer Counterparty \| Recurring \| Level 2 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	4,494	2,118
Derivative liability	14,135	27,288
Interest rate swaps \| Commercial Customer Counterparty \| Recurring \| Level 3 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	0	0
Derivative liability	0	0
Interest rate caps and corridors \| Financial Institution Counterparty \| Recurring \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	190	1,344
Interest rate caps and corridors \| Financial Institution Counterparty \| Recurring \| Level 1 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	0	0
Interest rate caps and corridors \| Financial Institution Counterparty \| Recurring \| Level 2 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	190	1,344
Interest rate caps and corridors \| Financial Institution Counterparty \| Recurring \| Level 3 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative asset	0	0
Interest rate caps and corridors \| Commercial Customer Counterparty \| Recurring \| Non-hedging Derivatives
Assets measured at fair value
Derivative liability	190	1,344
Interest rate caps and corridors \| Commercial Customer Counterparty \| Recurring \| Level 1 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative liability	0	0
Interest rate caps and corridors \| Commercial Customer Counterparty \| Recurring \| Level 2 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative liability	190	1,344
Interest rate caps and corridors \| Commercial Customer Counterparty \| Recurring \| Level 3 Inputs \| Non-hedging Derivatives
Assets measured at fair value
Derivative liability	$ 0	$ 0

OBS Loan Commitments - Financial Instruments Approximate Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial instruments with off-balance sheet risk
Total commitments	$ 3,417,658	$ 3,998,795
Commitments to extend credit
Financial instruments with off-balance sheet risk
Total commitments	2,816,528	3,083,501
MW commitments
Financial instruments with off-balance sheet risk
Total commitments	487,350	803,704
Standby and commercial letters of credit
Financial instruments with off-balance sheet risk
Total commitments	$ 113,780	$ 111,590

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	APIC	Retained Earnings	AOCI
Beginning balance (in shares) at Dec. 31, 2022		54,029,955
Beginning balance at Dec. 31, 2022	$ 1,449,773	$ 607	$ (167,582)	$ 1,306,852	$ 379,299	$ (69,403)
Beginning balance (in shares) at Dec. 31, 2022			6,638,094
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		220,755
RSUs vested, net of shares withheld to cover taxes	(2,208)	$ 2		(2,210)
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively (in shares)		54,079
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively	803			803
Stock based compensation	9,014			9,014
Net income	104,762				104,762
Dividends paid	(32,548)				(32,548)
Other comprehensive income (loss)	(38,430)					(38,430)
Ending balance (in shares) at Sep. 30, 2023		54,304,789
Ending balance at Sep. 30, 2023	1,491,166	$ 609	$ (167,582)	1,314,459	451,513	(107,833)
Ending balance (in shares) at Sep. 30, 2023			6,638,094
Beginning balance (in shares) at Jun. 30, 2023		54,260,792
Beginning balance at Jun. 30, 2023	1,491,280	$ 609	$ (167,582)	1,311,687	429,753	(83,187)
Beginning balance (in shares) at Jun. 30, 2023			6,638,094
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		41,249
RSUs vested, net of shares withheld to cover taxes	(226)			(226)
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively (in shares)		2,748
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively	38			38
Stock based compensation	2,960			2,960
Net income	32,621				32,621
Dividends paid	(10,861)				(10,861)
Other comprehensive income (loss)	(24,646)					(24,646)
Ending balance (in shares) at Sep. 30, 2023		54,304,789
Ending balance at Sep. 30, 2023	1,491,166	$ 609	$ (167,582)	1,314,459	451,513	(107,833)
Ending balance (in shares) at Sep. 30, 2023			6,638,094
Beginning balance (in shares) at Dec. 31, 2023		54,338,368
Beginning balance at Dec. 31, 2023	$ 1,531,323	$ 610	$ (167,582)	1,317,516	444,242	(63,463)
Beginning balance (in shares) at Dec. 31, 2023	6,638,094		6,638,094
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		261,089
RSUs vested, net of shares withheld to cover taxes	$ (2,187)	$ 3		(2,190)
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively (in shares)		24,387
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively	350			350
Stock buyback (in shares)		(177,670)	(177,670)
Stock buyback	(3,537)		$ (3,537)
Stock based compensation	9,253			9,253
Net income	82,359				82,359
Dividends paid	(32,680)				(32,680)
Other comprehensive income (loss)	23,133					23,133
Ending balance (in shares) at Sep. 30, 2024		54,446,174
Ending balance at Sep. 30, 2024	$ 1,608,014	$ 613	$ (171,119)	1,324,929	493,921	(40,330)
Ending balance (in shares) at Sep. 30, 2024	6,815,764		6,815,764
Beginning balance (in shares) at Jun. 30, 2024		54,350,350
Beginning balance at Jun. 30, 2024	$ 1,548,616	$ 612	$ (171,079)	1,321,995	473,801	(76,713)
Beginning balance (in shares) at Jun. 30, 2024			6,813,782
Increase (Decrease) in Stockholders' Equity
RSUs vested, net of shares withheld to cover taxes (in shares)		73,419
RSUs vested, net of shares withheld to cover taxes	(612)	$ 1		(613)
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively (in shares)		24,387
Exercise of employee stock options, net of shares withheld to cover taxes and exercise, respectively	350			350
Stock buyback (in shares)		(1,982)	(1,982)
Stock buyback	(40)		$ (40)
Stock based compensation	3,197			3,197
Net income	31,001				31,001
Dividends paid	(10,881)				(10,881)
Other comprehensive income (loss)	36,383					36,383
Ending balance (in shares) at Sep. 30, 2024		54,446,174
Ending balance at Sep. 30, 2024	$ 1,608,014	$ 613	$ (171,119)	$ 1,324,929	$ 493,921	$ (40,330)
Ending balance (in shares) at Sep. 30, 2024	6,815,764		6,815,764

Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Veritex Holdings, Inc. and its subsidiaries, including the Bank. The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP, but do not include all of the information and footnotes required for complete financial statements. Intercompany transactions and balances are eliminated in consolidation. In management’s opinion, these unaudited consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair statement of the Company’s consolidated balance sheets at September 30, 2024 and December 31, 2023, consolidated statements of income, consolidated statements of comprehensive income (loss) and consolidated changes in stockholders’ equity for the three and nine months ended September 30, 2024 and 2023 and consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year end and the results for the interim periods shown herein are not necessarily indicative of results to be expected for the full year due in part to global economic and financial market conditions, interest rates, access to sources of liquidity, market competition and interruptions of business processes. These unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Quarterly Reports on Form 10-Q adopted by the SEC. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 28, 2024. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
EPS	EPS EPS is based upon the weighted average shares outstanding.

Fair Value - Non-recurring Basis (Details)	Sep. 30, 2024 USD ($) Property	Dec. 31, 2023 USD ($) Property	Sep. 30, 2023 USD ($)
Assets measured at fair value
Valuation allowance recorded	$ 1,132,000		$ 2,043,000
Number of properties \| Property	4	0
Non-recurring
Assets measured at fair value
Collateral dependent loans with an ACL	$ 700,000	$ 14,274,000
Servicing assets with a valuation allowance	3,309,000	6,682,000
OREO	9,034,000
Collateral dependent loans with an ACL, gross	897,000	17,660,000
Impaired loans, specific allowance	197,000	3,386,000
Servicing asset at fair value, gross	4,441,000	8,214,000
Valuation allowance for servicing asset		1,532,000
Liabilities measured at fair value	0	0
Non-recurring \| Level 1 Inputs
Assets measured at fair value
Collateral dependent loans with an ACL	0	0
Servicing assets with a valuation allowance	0	0
OREO	0
Non-recurring \| Level 2 Inputs
Assets measured at fair value
Collateral dependent loans with an ACL	0	0
Servicing assets with a valuation allowance	0	0
OREO	0
Non-recurring \| Level 3 Inputs
Assets measured at fair value
Collateral dependent loans with an ACL	700,000	14,274,000
Servicing assets with a valuation allowance	3,309,000	$ 6,682,000
OREO	$ 9,034,000

Operations and Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income	$ 31,001	$ 32,621	$ 82,359	$ 104,762
Denominator:
Weighted average shares outstanding for basic EPS (in shares)	54,409	54,300	54,437	54,233
Dilutive effect of employee stock based awards (in shares)	523	297	429	330
Adjusted weighted average shares outstanding (in shares)	54,932	54,597	54,866	54,563
EPS:
Basic (in dollars per share)	$ 0.57	$ 0.60	$ 1.51	$ 1.93
Diluted (in dollars per share)	$ 0.56	$ 0.60	$ 1.50	$ 1.92
Antidilutive shares (in shares)	498	1,339	948	1,314

Stock-Based Awards - Veritex (Green) 2014 Plan - RSUs and PSUs (Details) - Veritex (Green) 2014 Plan - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at the beginning of the period (in shares)	64,719	86,233
Vested into shares (in shares)	(5,154)	(19,282)
Forfeited (in shares)		(2,232)
Outstanding at the end of the period (in shares)	59,565	64,719
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 18.26	$ 21.09
Vested into shares (in dollars per share)	32.20	29.66
Forfeited (in dollars per share)		29.13
Outstanding at the end of the period (in dollars per share)	$ 17.51	$ 18.26
PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at the beginning of the period (in shares)	10,642	19,173
Granted (in shares)	1,246
Vested into shares (in shares)	(7,477)	(8,531)
Outstanding at the end of the period (in shares)	4,411	10,642
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 31.93	$ 30.74
Granted (in dollars per share)	18.84
Vested into shares (in dollars per share)	25.94	25.94
Outstanding at the end of the period (in dollars per share)	$ 40.38	$ 31.93
Restricted Stock Units and Performance Stock Based Units
Weighted Average Grant Date Fair Value
Unrecognized compensation expense	$ 14,685	$ 16,869	$ 14,692
Requisite service period to recognize compensation cost (in years)	2 years 2 months 19 days

Stock-Based Awards - 2022 Equity Plan - Options (Details) - 2022 Equity Plan - Non-Performance Based Stock Options $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)
Shares Underlying Options
Outstanding at beginning of period (in shares) \| shares	602,573	657,494
Forfeited (in shares) \| shares		(1,666)
Cancelled (in shares) \| shares	(1,263)	(3,804)
Exercised (in shares) \| shares	(3,114)	(17,285)
Outstanding at the end of period (in shares) \| shares	598,196	634,739
Options exercisable at end of period (in shares) \| shares	598,196	608,739
Weighted Exercise Price
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 24.40	$ 24.47
Forfeited (in dollars per share) \| $ / shares		17.38
Cancelled (in dollars per share) \| $ / shares	23.86	29.13
Exercised (in dollars per share) \| $ / shares	14.17	18.29
Outstanding at the end of period (in dollars per share) \| $ / shares	24.45	24.63
Options exercisable at end of period (in dollars per share) \| $ / shares	$ 24.45	$ 24.79
Weighted Average Contractual Term
Outstanding (in years)	4 years 1 month 6 days	4 years 10 months 2 days
Exercisable (in years)	4 years 1 month 6 days	4 years 9 months 10 days
Aggregate Intrinsic Value
Outstanding \| $	$ 1,599,454
Exercisable \| $	1,599,454
Unrecognized compensation expense \| $	$ 0	$ 36	$ 0

Income Taxes

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income tax expense for the three and nine months ended September 30, 2024 and 2023 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
		2024			2023			2024			2023
Income tax expense for the period		$	8,067		$	9,282		$	23,525		$	30,019
Effective tax rate		20.6		%	22.2		%	22.2		%	22.3		%

For the three months ended September 30, 2024, the Company had an effective tax rate of 20.6%. The Company had a one-time tax expense for return to provision of $224 and a $941 benefit related to the release of the change in the Company’s valuation allowance during the three months ended September 30, 2024. The Company had a net discrete tax expense of $91 associated with the recognition of an excess tax expense realized on share-based payment awards during the three months ended September 30, 2024. Excluding these discrete tax items, the Company had an effective tax rate of 22.2% for the three months ended September 30, 2024.

For the three months ended September 30, 2023, the Company had an effective tax rate of 22.2%. The Company had a net discrete tax expense of $505 associated with return to provision adjustments during the three months ended September 30, 2023. Excluding this discrete tax item, the Company had an effective tax rate of 20.9% for the three months ended September 30, 2023.

For the nine months ended September 30, 2024, the Company had an effective tax rate of 22.2%. The Company had a one-time tax expense for return to provision of $224 and a $941 benefit related to the release of the change in the Company’s valuation allowance during the nine months ended September 30, 2024. The Company had a net discrete tax expense of $501 associated with the recognition of an excess tax expense realized on share-based payment awards during the nine months ended September 30, 2024. Excluding these discrete tax items, the Company had an effective tax rate of 22.4% for the nine months ended September 30, 2024.

For the nine months ended September 30, 2023, the Company had an effective tax rate of 22.3%. The Company had a net discrete tax expense of $658, of which $505 was associated with a return to provision adjustment and $153 associated with the recognition of an excess tax expense realized on share-based payment awards during the nine months ended September 30, 2023. Excluding this discrete tax item, the Company had an effective tax rate of 21.8% for the nine months ended September 30, 2023.

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. The deferred tax asset is not realizable due to the capital loss that will not be recognized. As of September 30, 2024, the Company released $941 of the valuation allowance related to a capital gain recognized on the 2023 tax return. The deferred tax asset is not realizable due to the capital loss that will not be recognized. The position was upheld as of September 30, 2024. There was no valuation allowance in the comparable period in 2023.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 12C
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: 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 14: 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

+ Details

Securities - Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
AFS
Less Than 12 Months	$ 125,072	$ 50,792
12 Months or More	607,901	780,455
Totals	732,973	831,247
AFS Unrealized Loss
Less Than 12 Months	7,537	7,574
12 Months or More	63,376	88,216
Totals	70,913	95,790
HTM Fair Value
Less Than 12 Months	22,877	7,845
12 Months or More	126,312	137,308
Totals	149,189	145,153
HTM Unrealized Loss
Less Than 12 Months	3,652	270
12 Months or More	15,499	20,198
Totals	19,151	20,468
Corporate bonds
AFS
Less Than 12 Months	45,852	34,989
12 Months or More	169,253	162,148
Totals	215,105	197,137
AFS Unrealized Loss
Less Than 12 Months	4,038	5,970
12 Months or More	17,477	23,596
Totals	21,515	29,566
Municipal securities
AFS
Less Than 12 Months	9,489	6,792
12 Months or More	2,124	22,052
Totals	11,613	28,844
AFS Unrealized Loss
Less Than 12 Months	2,552	45
12 Months or More	65	3,213
Totals	2,617	3,258
HTM Fair Value
Less Than 12 Months	22,877	7,845
12 Months or More	70,932	79,713
Totals	93,809	87,558
HTM Unrealized Loss
Less Than 12 Months	3,652	270
12 Months or More	6,488	9,594
Totals	10,140	9,864
MBS
AFS
Less Than 12 Months	0	0
12 Months or More	86,119	104,486
Totals	86,119	104,486
AFS Unrealized Loss
Less Than 12 Months	0	0
12 Months or More	10,664	13,465
Totals	10,664	13,465
HTM Fair Value
Less Than 12 Months	0	0
12 Months or More	26,102	27,679
Totals	26,102	27,679
HTM Unrealized Loss
Less Than 12 Months	0	0
12 Months or More	5,175	6,037
Totals	5,175	6,037
CMO
AFS
Less Than 12 Months	18,018	0
12 Months or More	336,408	419,044
Totals	354,426	419,044
AFS Unrealized Loss
Less Than 12 Months	496	0
12 Months or More	33,479	46,999
Totals	33,975	46,999
HTM Fair Value
Less Than 12 Months	0	0
12 Months or More	29,278	29,916
Totals	29,278	29,916
HTM Unrealized Loss
Less Than 12 Months	0	0
12 Months or More	3,836	4,567
Totals	3,836	4,567
Asset-backed securities
AFS
Less Than 12 Months	39,701	9,011
12 Months or More	13,997	8,847
Totals	53,698	17,858
AFS Unrealized Loss
Less Than 12 Months	201	1,559
12 Months or More	1,691	571
Totals	1,892	2,130
Collateralized loan obligations
AFS
Less Than 12 Months	12,012	0
12 Months or More	0	63,878
Totals	12,012	63,878
AFS Unrealized Loss
Less Than 12 Months	250	0
12 Months or More	0	372
Totals	$ 250	$ 372

Stock-Based Awards - 2022 Equity Plan - RSUs and PSUs (Details) - 2022 Equity Plan - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
RSUs
Units
Outstanding at the beginning of the period (in shares)	982,513	955,104
Granted (in shares)	190,018	289,252
Vested into shares (in shares)	(282,785)	(237,940)
Forfeited (in shares)	(5,558)	(30,533)
Outstanding at the end of the period (in shares)	884,188	975,883
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 27.52	$ 28.38
Granted (in dollars per share)	21.94	27.17
Vested into shares (in dollars per share)	27.92	29.58
Forfeited (in dollars per share)	30.53	32.23
Outstanding at the end of the period (in dollars per share)	$ 25.79	$ 27.61
PSUs
Units
Outstanding at the beginning of the period (in shares)	129,768	126,707
Granted (in shares)	113,144	53,310
Vested into shares (in shares)	(79,367)	(41,781)
Forfeited (in shares)		(8,468)
Outstanding at the end of the period (in shares)	163,545	129,768
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 30.28	$ 31.19
Granted (in dollars per share)	18.84	27.55
Vested into shares (in dollars per share)	26.49	26.42
Forfeited (in dollars per share)		30.90
Outstanding at the end of the period (in dollars per share)	$ 24.62	$ 30.28
Restricted Stock Units and Performance Stock Based Units
Additional disclosures
Unrecognized compensation expense	$ 636	$ 2,232	$ 1,781
Requisite service period to recognize compensation cost (in years)	8 months 15 days
Non-Performance Based Stock Options
Additional disclosures
Unrecognized compensation expense	$ 0	$ 36	$ 0

Fair Value

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value

The following table summarizes assets measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	September 30, 2024
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Financial Assets:
AFS debt securities	$	—	$	1,243,246	$	—	$	1,243,246
Equity securities with a readily determinable fair value	10,106		—		—		10,106

LHFS(1)	—		47,398		—		47,398
Interest rate swap designated as hedging instruments	—		10,052		—		10,052
Correspondent interest rate swaps not designated as hedging instruments	—		14,846		—		14,846
Customer interest rate swaps not designated as hedging instruments	—		4,494		—		4,494
Correspondent interest rate caps and collars not designated as hedging instruments	—		190		—		190

Financial Liabilities:
Interest rate swap designated as hedging instruments	$	—	$	36,478	$	—	$	36,478
Correspondent interest rate swaps not designated as hedging instruments	—		4,790		—		4,790
Customer interest rate swaps not designated as hedging instruments	—		14,135		—		14,135

Customer interest rate caps and collars not designated as hedging instruments	—		190		—		190

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


	December 31, 2023
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total 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 swap 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 swap 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.

There were no transfers between Level 2 and Level 3 during the nine months ended September 30, 2024 and December 31, 2023.

The following table summarizes assets measured at fair value on a non-recurring basis as of September 30, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	Fair Value Measurements Using
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
As of September 30, 2024
Assets:
Collateral dependent loans with an ACL	$	—	$	—	$	700	$	700
Servicing assets with a valuation allowance	—		—		3,309		3,309
OREO	—		—		9,034		9,034
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

At September 30, 2024, collateral dependent loans with an allowance had a recorded investment of $897, with $197 specific ACL allocated. At December 31, 2023, collateral dependent loans with an allowance had a carrying value of $17,660, with $3,386 of specific ACL allocated.

At September 30, 2024, servicing assets of $4,441 had a valuation allowance totaling $1,132. At December 31, 2023, servicing assets of $8,214 had a valuation allowance totaling $1,532.

OREO primarily consists of four properties recorded with a fair value of approximately $9,034 in total at September 30, 2024. There were no OREO properties recorded as of December 31, 2023.

There were no liabilities measured at fair value on a non-recurring basis as of September 30, 2024 or December 31, 2023.

Fair Value of Financial Instruments

The Company’s methods of determining fair value of financial instruments in this Note are consistent with its methodologies disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Please refer to Note 17 in the Company’s Annual Report on Form 10-K for information on these methods.

The estimated fair values and carrying values of all financial instruments not measured at fair value on a recurring basis under current authoritative guidance as of September 30, 2024 and December 31, 2023 were as follows:


			Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
September 30, 2024
Financial assets:
Cash and cash equivalents	$	1,100,790	$	—	$	1,100,790	$	—
HTM debt securities	180,364		—		161,271		—
LHFS(1)	1,098		—		1,098		—
LHI(2)	9,541,363		—		—		9,491,260
Accrued interest receivable	47,392		—		47,392		—
BOLI	84,776		—		84,776		—
Servicing asset	8,335		—		8,335		—
Equity securities without a readily determinable fair value	48,582		N/A		N/A		N/A
FHLB and FRB stock	47,862		N/A		N/A		N/A
Financial liabilities:
Noninterest-bearing deposits	$	2,643,894	$	—	$	2,643,894	$	—
Interest-bearing deposits	8,392,117		—		8,260,577		—
Advances from FHLB	—		—		—		—
Accrued interest payable	39,555		—		39,555		—
Subordinated debentures and subordinated notes	230,536		—		230,536		—
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:
Noninterest-bearing deposits	$	2,218,036	$	—	$	2,218,036	$	—
Interest-bearing deposits	8,120,159		—		8,096,209		—
Advances from FHLB	100,000		—		100,051		—
Accrued interest payable	41,948		—		41,948		—
Subordinated debentures and subordinated notes	229,783		—		229,783		—

(1) LHFS primarily represent mortgage LHFS that are carried at lower of cost or market.

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

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

LHI and ACL - Loans Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Loans and Allowance for Credit Losses
Total LHFS	$ 48,496	$ 79,072
SBA/USDA construction and land
Loans and Allowance for Credit Losses
Total LHFS	22,066	41,492
1 - 4 family residential
Loans and Allowance for Credit Losses
Total LHFS	1,098	788
SBA OOCRE
Loans and Allowance for Credit Losses
Total LHFS	7,567	16,758
NOOCRE
Loans and Allowance for Credit Losses
Total LHFS	0	10,500
SBA commercial
Loans and Allowance for Credit Losses
Total LHFS	$ 17,765	$ 9,534

Stock-Based Awards (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

A summary of option activity under the 2010 Incentive Plan for the nine months ended September 30, 2023, and changes during the periods then ended, is presented below. There was no activity under the 2010 Incentive Plan for the nine months ended September 30, 2024.


	2010 Incentive Plan
	Non-Performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2023	1,000	$	10.43	1.07 years



Exercised	(1,000)	10.43
Outstanding and exercisable at September 30, 2023	—	$	—	—	$	—

A summary of the status of the Company’s stock options under the 2022 Equity Plan as of September 30, 2024 and 2023, and changes during the nine months then ended, is as follows:


	2022 Equity Plan
	Non-performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2023	657,494	$	24.47


Forfeited	(1,666)	17.38
Cancelled	(3,804)	29.13
Exercised	(17,285)	18.29
Outstanding at September 30, 2023	634,739	$	24.63	4.84 years
Options exercisable at September 30, 2023	608,739	$	24.79	4.78 years

Outstanding at January 1, 2024	602,573	$	24.40



Cancelled	(1,263)	23.86
Exercised	(3,114)	14.17
Outstanding at September 30, 2024	598,196	$	24.45	4.10 years	$	1,599,454
Options exercisable at September 30, 2024	598,196	$	24.45	4.10 years	$	1,599,454

A summary of the status of the Company’s stock options under the Veritex (Green) 2014 Plan as of September 30, 2024 and 2023, and changes during the nine months 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 January 1, 2023	155,212	$	19.83



Cancelled	(9,717)	21.38
Exercised	(13,266)	22.74
Outstanding at September 30, 2023	132,229	$	21.89	3.91 years
Options exercisable at September 30, 2023	132,229	$	21.89	3.91 years

Outstanding at January 1, 2024	124,499	$	19.78




Exercised	(23,563)	16.46
Outstanding at September 30, 2024	100,936	$	20.56	3.55 years	$	669,145
Options exercisable at September 30, 2024	100,936	$	20.56	3.55 years	$	669,145
Weighted average fair value of options granted during the period		$	—

A summary of the status of the Company’s stock options under the Green 2010 Plan as of September 30, 2024 and 2023, and changes during the nine months 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, 2023	43,162	$	13.11




Exercised	(32,378)	13.26
Outstanding at September 30, 2023	10,784	$	12.65	4.32 years

Outstanding at January 1, 2024	10,784	$	12.65





Outstanding at September 30, 2024	10,784	$	12.65	3.32 years	$	147

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 under the 2010 Incentive Plan for the nine months ended September 30, 2024 and 2023 is presented below:


	Fair Value of Options Exercised as of September 30,
	2024		2023
Nonperformance-based stock options exercised	$	—	$	16

A summary of the fair value of the Company’s stock options exercised, RSUs and PSUs vested under the 2022 Equity Plan during the nine months ended September 30, 2024 and 2023 is presented below:


	Fair Value of Options Exercised or RSUs Vested in the Nine Months Ended September 30,
	2024		2023
Non-performance-based stock options exercised	$	32	$	66
RSUs vested	4,547		3,800
PSUs vested	1,608		1,070

A summary of the fair value of the Company’s stock options exercised, RSUs and PSUs vested under the Veritex (Green) 2014 Plan during the nine months ended September 30, 2024 and 2023 presented below:


	Fair Value of Options Exercised or RSUs Vested in the Nine Months Ended September 30,
	2024		2023
Non-performance-based stock options exercised	$	178	$	18
RSUs vested	1,420		2,169
PSUs vested	149		227

A summary of the fair value of the Company’s stock options exercised under the Green 2010 Plan during the nine months ended September 30, 2024 and 2023 presented below:


	Fair Value of Options Exercised as of September 30,
	2024		2023
Nonperformance-based stock options exercised	$	—	$	379

Schedule of Share-based Compensation Expense

Stock compensation expense for options, RSUs and PSUs granted under the 2022 Equity Plan and the Veritex (Green) 2014 Plan were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
2022 Equity Plan	$	2,923	$	2,471	$	8,139	$	7,616
Veritex (Green) 2014 Plan	274		489		1,114		1,398

Summary of Status of the Company's Restricted Shares or Restricted Stock Units

A summary of the status of the Company’s RSUs under the 2022 Equity Plan as of September 30, 2024 and 2023, and changes during the nine months then ended, is as follows:


	2022 Equity Plan
	Non-performance-Based
	RSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	955,104	$	28.38
Granted	289,252	27.17

Vested into shares	(237,940)	29.58
Forfeited	(30,533)	32.23
Outstanding at September 30, 2023	975,883	$	27.61

Outstanding at January 1, 2024	982,513	$	27.52
Granted	190,018	21.94

Vested into shares	(282,785)	27.92
Forfeited	(5,558)	30.53
Outstanding at September 30, 2024	884,188	$	25.79

A summary of the status of the Company’s PSUs under the 2022 Equity Plan as of September 30, 2024 and 2023, and changes during the nine months then ended, is as follows:


	2022 Equity Plan
	Performance-Based
	PSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	126,707	$	31.19
Granted	53,310	27.55

Vested into shares	(41,781)	26.42
Forfeited	(8,468)	30.90
Outstanding at September 30, 2023	129,768	$	30.28

Outstanding at January 1, 2024	129,768	$	30.28
Granted	113,144	18.84

Vested into shares	(79,367)	26.49

Outstanding at September 30, 2024	163,545	$	24.62

A summary of the status of the Company’s RSUs under the Veritex (Green) 2014 Plan as of September 30, 2024 and 2023 and changes during the nine months then ended, is as follows:


	Veritex (Green) 2014 Plan
	Non-performance-Based
	RSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	86,233	$	21.09

Vested into shares	(19,282)	29.66
Forfeited	(2,232)	29.13
Outstanding at September 30, 2023	64,719	$	18.26

Outstanding at January 1, 2024	64,719	$	18.26

Vested into shares	(5,154)	32.20

Outstanding at September 30, 2024	59,565	$	17.51

A summary of the status of the Company’s PSUs under the Veritex (Green) 2014 Plan as of September 30, 2024 and 2023 and changes during the nine months then ended, is as follows:


	Veritex (Green) 2014 Plan
	Performance-Based
	PSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	19,173	$	30.74


Vested into shares	(8,531)	25.94

Outstanding at September 30, 2023	10,642	$	31.93

Outstanding at January 1, 2024	10,642	$	31.93
Granted	1,246	18.84

Vested into shares	(7,477)	25.94

Outstanding at September 30, 2024	4,411	$	40.38

Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis


	September 30, 2024
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Financial Assets:
AFS debt securities	$	—	$	1,243,246	$	—	$	1,243,246
Equity securities with a readily determinable fair value	10,106		—		—		10,106

LHFS(1)	—		47,398		—		47,398
Interest rate swap designated as hedging instruments	—		10,052		—		10,052
Correspondent interest rate swaps not designated as hedging instruments	—		14,846		—		14,846
Customer interest rate swaps not designated as hedging instruments	—		4,494		—		4,494
Correspondent interest rate caps and collars not designated as hedging instruments	—		190		—		190

Financial Liabilities:
Interest rate swap designated as hedging instruments	$	—	$	36,478	$	—	$	36,478
Correspondent interest rate swaps not designated as hedging instruments	—		4,790		—		4,790
Customer interest rate swaps not designated as hedging instruments	—		14,135		—		14,135

Customer interest rate caps and collars not designated as hedging instruments	—		190		—		190

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


	December 31, 2023
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total 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 swap 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 swap 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.

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


	Fair Value Measurements Using
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
As of September 30, 2024
Assets:
Collateral dependent loans with an ACL	$	—	$	—	$	700	$	700
Servicing assets with a valuation allowance	—		—		3,309		3,309
OREO	—		—		9,034		9,034
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

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


			Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
September 30, 2024
Financial assets:
Cash and cash equivalents	$	1,100,790	$	—	$	1,100,790	$	—
HTM debt securities	180,364		—		161,271		—
LHFS(1)	1,098		—		1,098		—
LHI(2)	9,541,363		—		—		9,491,260
Accrued interest receivable	47,392		—		47,392		—
BOLI	84,776		—		84,776		—
Servicing asset	8,335		—		8,335		—
Equity securities without a readily determinable fair value	48,582		N/A		N/A		N/A
FHLB and FRB stock	47,862		N/A		N/A		N/A
Financial liabilities:
Noninterest-bearing deposits	$	2,643,894	$	—	$	2,643,894	$	—
Interest-bearing deposits	8,392,117		—		8,260,577		—
Advances from FHLB	—		—		—		—
Accrued interest payable	39,555		—		39,555		—
Subordinated debentures and subordinated notes	230,536		—		230,536		—
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:
Noninterest-bearing deposits	$	2,218,036	$	—	$	2,218,036	$	—
Interest-bearing deposits	8,120,159		—		8,096,209		—
Advances from FHLB	100,000		—		100,051		—
Accrued interest payable	41,948		—		41,948		—
Subordinated debentures and subordinated notes	229,783		—		229,783		—

(1) LHFS primarily represent mortgage LHFS that are carried at lower of cost or market.

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

Operations and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Operations and Summary of Significant Accounting Policies

Organization and Nature of Business

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 word “the Bank” refers to Veritex Community Bank.

Veritex is a Texas state banking organization, with corporate offices in Dallas, Texas, and currently operates 19 branches located in the DFW metroplex and 12 branches in the Houston metropolitan area. The Bank provides a full range of banking services, including commercial and retail lending and the acceptance of checking and savings deposits, to individual and corporate customers. 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.

Basis of Presentation

The accompanying unaudited consolidated financial statements include the accounts of Veritex Holdings, Inc. and its subsidiaries, including the Bank.

The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP, but do not include all of the information and footnotes required for complete financial statements. Intercompany transactions and balances are eliminated in consolidation. In management’s opinion, these unaudited consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair statement of the Company’s consolidated balance sheets at September 30, 2024 and December 31, 2023, consolidated statements of income, consolidated statements of comprehensive income (loss) and consolidated changes in stockholders’ equity for the three and nine months ended September 30, 2024 and 2023 and consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023.

Accounting measurements at interim dates inherently involve greater reliance on estimates than at year end and the results for the interim periods shown herein are not necessarily indicative of results to be expected for the full year due in part to global economic and financial market conditions, interest rates, access to sources of liquidity, market competition and interruptions of business processes. These unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Quarterly Reports on Form 10-Q adopted by the SEC. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 28, 2024.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

EPS

EPS is based upon the weighted average shares outstanding. The table below sets forth the reconciliation between weighted average shares used for calculating basic and diluted EPS for the three and nine months ended September 30, 2024 and 2023:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	31,001	$	32,621	$	82,359	$	104,762
Denominator:
Weighted average shares outstanding for basic EPS	54,409		54,300		54,437		54,233
Dilutive effect of employee stock-based awards	523		297		429		330
Adjusted weighted average shares outstanding	54,932		54,597		54,866		54,563
EPS:
Basic	$	0.57	$	0.60	$	1.51	$	1.93
Diluted	$	0.56	$	0.60	$	1.50	$	1.92
Antidilutive shares	498		1,339		948		1,314

For the three months ended September 30, 2024, there were 498 antidilutive shares excluded from the diluted EPS weighted average shares outstanding, 136 relating to RSUs and 362 relating to stock options. For the nine months ended September 30, 2024, there were 948 antidilutive shares excluded from the diluted EPS weighted average shares outstanding, 338 relating to RSUs and 610 relating to stock options.

For the three months ended September 30, 2023, there were 1,339 antidilutive shares excluded from the diluted EPS weighted average shares outstanding, 671 related to RSUs and 668 related to stock options. For the nine months ended September 30, 2023, there were 1,314 antidilutive shares excluded from the diluted EPS weighted average shares outstanding, 645 related to RSUs and 669 related to stock options.

Cost Method Accounting

The Company follows ASC 325-20, Cost Method Investments, to account for its ownership interest in noncontrolled entities. Under ASC 325-20, equity securities that do not have readily determinable fair values (i.e., non-marketable equity securities) and are not required to be accounted for under the equity method are typically carried at cost (i.e., cost method investments). Investments of this nature are initially recorded at cost. Income is recorded for dividends received that are distributed from net accumulated earnings of the noncontrolled entity subsequent to the date of investment. Dividends received in excess of earnings subsequent to the date of investment are considered a return of investment and are recorded as reductions in the cost of the investment. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred.

Securities - Proceeds From Sale of Debt Securities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales	$ 113,794	$ 109,793
Gross realized losses	$ 6,304	$ 5,321

OBS Loan Commitments - Allowance for Unfunded Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance For Unfunded Commitments [Roll Forward]
Beginning balance for ACL on unfunded commitments	$ 6,504	$ 10,454	$ 8,045	$ 10,086
Benefit for credit losses on unfunded commitments	0	(909)	(1,541)	(541)
Ending balance of ACL on unfunded commitments	$ 6,504	$ 9,545	$ 6,504	$ 9,545

Supplemental Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 283,619	$ 208,668
Cash paid for income taxes	$ 9,766	$ 38,893

Securities - Allowance For Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
ACL on debt securities:
Beginning balance	$ 0	$ 885	$ 0	$ 0
Credit loss recovery	0	(885)	0	0
Ending balance	$ 0	$ 0	$ 0	$ 0

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Balance Sheet

The notional amounts and estimated fair values as of September 30, 2024 and December 31, 2023 are as shown in the table below.


	September 30, 2024						December 31, 2023
			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	$	4,693	$	—	$	250,000	$	12,208	$	—
Interest rate swaps on variable rate funding sources	275,000		—		4,773		200,000		—		4,296
Interest rate swaps on customer loan interest payments	375,000		—		30,989		375,000		—		40,055
Interest rate collars on customer loan interest payments	450,000		1,925		716		450,000		2,304		2,770
Interest rate floor on customer loan interest payments	200,000		3,434		—		200,000		4,302		—
Total derivatives designated as hedging instruments	$	1,550,000	$	10,052	$	36,478	$	1,475,000	$	18,814	$	47,121

Derivatives not designated as hedging instruments:
Financial institution counterparty:
Interest rate swaps	$	862,120	$	14,846	$	4,790	$	893,702	$	28,007	$	2,322
Interest rate caps and corridors	127,870		190		—		285,370		1,344		—
Commercial customer counterparty:
Interest rate swaps	862,120		4,494		14,135		893,702		2,118		27,288
Interest rate caps and corridors	127,870		—		190		285,370		—		1,344
Total derivatives not designated as hedging instruments	$	1,979,980	$	19,530	$	19,115	$	2,358,144	$	31,469	$	30,954
Offsetting derivative assets/liabilities	—		(22,218)		(22,218)		—		(29,463)		(29,463)
Total derivatives	$	3,529,980	$	7,364	$	33,375	$	3,833,144	$	20,820	$	48,612

Derivative Instruments, (Loss) Gain

Pre-tax (loss) gain included in the consolidated statements of income and related to derivative instruments for the three and nine months ended September 30, 2024 and 2023 were as follows.


	For the Three Months Ended September 30, 2024						For the Three Months Ended September 30, 2023
	(Loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income		(Loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on borrowing advances	$	(1,106)	$	1,106	Interest Expense		$	(1,105)	$	1,105	Interest Expense
Interest rate swap on money market deposit account payments	(8,007)		3,535		Interest Expense		(1,751)		3,035		Interest Expense
Interest rate swaps, collars and floors on customer loan interest payments	19,654		(5,668)		Interest Income		(9,060)		(5,260)		Interest Income
Total	$	10,541	$	(1,027)			$	(11,916)	$	(1,120)

					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					$	271					$	180


	For the Nine Months Ended September 30, 2024						For the Nine Months Ended September 30, 2023
	(Loss) gain recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income		Gain (loss) recognized in other comprehensive income on derivative		Gain (loss) reclassified from AOCI into income		Location of (loss) gain reclassified from AOCI into income
Derivatives designated as hedging instruments (cash flow hedges):
Interest rate swap on borrowing advances	$	(3,293)	$	3,293	Interest Expense		$	(3,281)	$	3,281	Interest Expense
Interest rate swap on money market deposit account payments	(7,993)		10,491		Interest Expense		(4,358)		8,469		Interest Expense
Interest rate swaps, collars and floors on customer loan interest payments	11,104		(16,535)		Interest Income		(12,233)		(13,773)		Interest Income
Total	$	(182)	$	(2,751)			$	(19,872)	$	(2,023)

					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					$	1,046					$	1,375

Schedule of Derivative Instruments Outstanding

The following is a summary of the interest rate swaps, caps and collars outstanding as of September 30, 2024 and December 31, 2023.


	September 30, 2024
	Notional Amount		Fixed Rate	Floating Rate	Maturity	Fair Value
Non-hedging derivative instruments:
Customer interest rate derivative:
Interest rate swaps - receive fixed/pay floating	$	862,120	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0% - 3.8% SOFR-NYFD 30 day avg + 2.5% - 3.0%	Wtd. Avg. 3.5 years	$	(9,642)
Interest rate caps and corridors	$	127,870	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	Wtd. Avg. 0.1 years	$	(190)

Correspondent interest rate derivative:
Interest rate swaps - pay fixed/receive floating	$	862,120	2.4% - 7.4%	LIBOR 1 month + 3.0% SOFR CME 1 month + 0.0% - 3.8% SOFR-NYFD 30 day avg + 2.5% - 3.0%	Wtd. Avg. 3.5 years	$	10,056
Interest rate caps and corridors	$	127,870	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	Wtd. Avg. 0.1 years	$	190

	December 31, 2023
	Notional Amount		Fixed Rate	Floating Rate	Maturity	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 avg + 2.5% - 3.0%	Wtd. Avg. 4.1 years	$	(25,170)
Interest rate caps and corridors	$	285,370	3.5% - 7.5%	SOFR CME 1 month $0.0% - 2.5% SOFR + $0.0%	Wtd. Avg. 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 avg + 2.5% - 3.0%	Wtd. Avg. 4.1 years	$	25,685
Interest rate caps and corridors	$	285,370	3.5% - 7.5%	SOFR CME 1 month + 0.0% - 2.5% SOFR + 0.0%	Wtd. Avg. 0.8 years	$	1,344

- Definition

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.

+ References + Details

Securities

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Securities

Equity Securities With a Readily Determinable Fair Value

The Company held equity securities with a fair value of $10,106 and $9,897 at September 30, 2024 and December 31, 2023, respectively. The Company did not realize a loss on equity securities with a readily determinable fair value during the three or nine months ended September 30, 2024 or 2023. 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:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value	$	356	$	(304)	$	209	$	(335)

Equity Securities Without a Readily Determinable Fair Value

The Company held equity securities without a readily determinable fair value and measured at aggregate cost of $48,582 and $11,624 as of September 30, 2024 and December 31, 2023, respectively.

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:


	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		ACL		Fair Value
AFS

Corporate bonds	$	271,207	$	1,754	$	21,515	$	—	$	251,446
Municipal securities	14,230		—		2,617		—		11,613
MBS	231,561		6,101		10,664		—		226,998
CMO	599,201		7,056		33,975		—		572,282
Asset-backed securities	113,882		1,477		1,892		—		113,467
Collateralized loan obligations	67,578		112		250		—		67,440
	$	1,297,659	$	16,500	$	70,913	$	—	$	1,243,246

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		ACL		Fair Value
HTM
MBS	$	31,277	$	—	$	5,175	$	—	$	26,102
CMO	33,114		—		3,836		—		29,278
Municipal securities	115,973		58		10,140		—		105,891
	$	180,364	$	58	$	19,151	$	—	$	161,271


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		ACL		Fair Value
AFS

Corporate bonds	$	244,652	$	1,034	$	29,566	$	—	$	216,120
Municipal securities	46,631		108		3,258		—		43,481
MBS	194,486		4,430		13,465		—		185,451
CMO	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

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

MBS are commercial MBS, secured by commercial properties, and residential MBS, generally secured by single-family residential properties. All MBS included in the table above were issued by U.S. government agencies or corporations.

The Company did not transfer any debt securities from AFS to HTM during the nine months ended September 30, 2024. 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 was 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 $2,599 and $3,122 at September 30, 2024 and December 31, 2023, respectively.

The following tables disclose the Company’s debt securities in an unrealized loss position, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:


	September 30, 2024
	Less Than 12 Months				12 Months or More				Totals
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
AFS

Corporate bonds	$	45,852	$	4,038	$	169,253	$	17,477	$	215,105	$	21,515
Municipal securities	9,489		2,552		2,124		65		11,613		2,617
MBS	—		—		86,119		10,664		86,119		10,664
CMO	18,018		496		336,408		33,479		354,426		33,975
Asset-backed securities	39,701		201		13,997		1,691		53,698		1,892
Collateralized loan obligations	12,012		250		—		—		12,012		250
	$	125,072	$	7,537	$	607,901	$	63,376	$	732,973	$	70,913

HTM
MBS	$	—	$	—	$	26,102	$	5,175	$	26,102	$	5,175
CMO	—		—		29,278		3,836		29,278		3,836
Municipal securities	22,877		3,652		70,932		6,488		93,809		10,140
	$	22,877	$	3,652	$	126,312	$	15,499	$	149,189	$	19,151


	December 31, 2023
	Less Than 12 Months				12 Months or More				Totals
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized 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
MBS	—		—		104,486		13,465		104,486		13,465
CMO	—		—		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
MBS	$	—	$	—	$	27,679	$	6,037	$	27,679	$	6,037
CMO	—		—		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

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 122 and 142 at September 30, 2024 and December 31, 2023, respectively. Management does not have the intent to sell any of these debt securities and believes that it is more likely than not that the Company will not have to sell any such debt securities before a recovery of cost. The fair value is expected to recover as the debt securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, as of September 30, 2024, 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 following table presents the activity in the ACL for AFS debt securities:


	Three Months ended September 30,				Nine Months ended September 30,
	2024		2023		2024		2023
ACL on debt securities:
Beginning balance	$	—	$	885	$	—	$	—

Credit loss recovery	—		(885)		—		—
Ending balance	$	—	$	—	$	—	$	—

The amortized costs and estimated fair values of AFS and HTM 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. MBS, CMOs, asset-backed securities, and collateralized loan obligations 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 MBS, CMOs, asset-backed securities, and collateralized loan obligations 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.


	September 30, 2024
	AFS				HTM
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	—	$	—	$	3,939	$	3,939
Due from one year to five years	73,247		72,887		894		868
Due from five years to ten years	181,966		165,765		19,512		19,153
Due after ten years	30,224		24,407		91,628		81,931
	285,437		263,059		115,973		105,891
MBS and CMO	830,762		799,280		64,391		55,380
Asset-backed securities	113,882		113,467		—		—
Collateralized loan obligations	67,578		67,440		—		—
	$	1,297,659	$	1,243,246	$	180,364	$	161,271


	December 31, 2023
	AFS				HTM
	Amortized Cost		Fair Value		Amortized Cost		Fair 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
MBS and CMO	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

Proceeds from sales of debt securities AFS and gross gains and losses for the nine months ended September 30, 2024 and 2023 were as follows:


	Nine Months ended September 30,
	2024		2023
Proceeds from sales	$	113,794	$	109,793

Gross realized losses	6,304		5,321

As of September 30, 2024 and December 31, 2023, 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. There was a blanket floating lien on all debt securities held by the Company to secure FHLB advances as of September 30, 2024 and December 31, 2023.

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Income tax expense for the three and nine months ended September 30, 2024 and 2023 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
		2024			2023			2024			2023
Income tax expense for the period		$	8,067		$	9,282		$	23,525		$	30,019
Effective tax rate		20.6		%	22.2		%	22.2		%	22.3		%

LHI and ACL - Nonaccrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
LHI and ACL - Nonaccrual (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Loans and Allowance for Credit Losses
Nonaccrual	$ 55,404		$ 55,404		$ 92,848
Nonaccrual With No ACL	37,859		37,859		62,364
Financing receivable, nonaccrual, interest income	638	$ 1,921	2,182	$ 4,689
PCD Loans
Loans and Allowance for Credit Losses
Financing receivable, nonaccrual, interest income			70		13,715
Commercial
Loans and Allowance for Credit Losses
Nonaccrual	27,191		27,191		40,868
Nonaccrual With No ACL	9,646		9,646		10,610
Consumer
Loans and Allowance for Credit Losses
Nonaccrual	17		17		24
Nonaccrual With No ACL	17		17		24
Construction and land \| Residential Real Estate \| Real Estate
Loans and Allowance for Credit Losses
Nonaccrual	6,578		6,578		6,793
Nonaccrual With No ACL	6,578		6,578		6,793
1 - 4 family residential \| Residential Real Estate \| Real Estate
Loans and Allowance for Credit Losses
Nonaccrual	1,995		1,995		1,965
Nonaccrual With No ACL	1,995		1,995		1,965
OOCRE \| Commercial Real Estate \| Real Estate
Loans and Allowance for Credit Losses
Nonaccrual	5,653		5,653		9,719
Nonaccrual With No ACL	5,653		5,653		9,493
NOOCRE \| Commercial Real Estate \| Real Estate
Loans and Allowance for Credit Losses
Nonaccrual	13,970		13,970		33,479
Nonaccrual With No ACL	$ 13,970		$ 13,970		$ 33,479

Derivative Financial Instruments - Summary of Interest Rate Swaps Outstanding (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional Amount	$ 3,529,980	$ 3,833,144
Non-hedging Derivatives
Derivative [Line Items]
Notional Amount	1,979,980	2,358,144
Non-hedging Derivatives \| Commercial Customer Counterparty \| Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 862,120	$ 893,702
Maturity (in years)	3 years 6 months	4 years 1 month 6 days
Fair Value	$ (9,642)	$ (25,170)
Non-hedging Derivatives \| Commercial Customer Counterparty \| Interest rate caps and corridors
Derivative [Line Items]
Notional Amount	$ 127,870	$ 285,370
Maturity (in years)	1 month 6 days	9 months 18 days
Fair Value	$ (190)	$ (1,344)
Non-hedging Derivatives \| Commercial Customer Counterparty \| SOFR \| Interest rate caps and corridors
Derivative [Line Items]
Floating Rate	0.00%	0.00%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Minimum \| Interest rate swaps
Derivative [Line Items]
Fixed Rate	2.40%	2.40%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Minimum \| Interest rate caps and corridors
Derivative [Line Items]
Fixed Rate	3.50%	3.50%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Minimum \| LIBOR \| Interest rate swaps
Derivative [Line Items]
Floating Rate	3.00%	3.00%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Minimum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate swaps
Derivative [Line Items]
Floating Rate	0.00%	0.00%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Minimum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate caps and corridors
Derivative [Line Items]
Floating Rate	0.00%	0.00%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Minimum \| Secured Overnight Financing Rate (SOFR) - NYFD \| Interest rate swaps
Derivative [Line Items]
Floating Rate	2.50%	2.50%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Maximum \| Interest rate swaps
Derivative [Line Items]
Fixed Rate	7.40%	7.40%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Maximum \| Interest rate caps and corridors
Derivative [Line Items]
Fixed Rate	7.50%	7.50%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Maximum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate swaps
Derivative [Line Items]
Floating Rate	3.80%	3.80%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Maximum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate caps and corridors
Derivative [Line Items]
Floating Rate	2.50%	2.50%
Non-hedging Derivatives \| Commercial Customer Counterparty \| Maximum \| Secured Overnight Financing Rate (SOFR) - NYFD \| Interest rate swaps
Derivative [Line Items]
Floating Rate	3.00%	3.00%
Non-hedging Derivatives \| Financial Institution Counterparty \| Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 862,120	$ 893,702
Maturity (in years)	3 years 6 months	4 years 1 month 6 days
Fair Value	$ 10,056	$ 25,685
Non-hedging Derivatives \| Financial Institution Counterparty \| Interest rate caps and corridors
Derivative [Line Items]
Notional Amount	$ 127,870	$ 285,370
Maturity (in years)	1 month 6 days	9 months 18 days
Fair Value	$ 190	$ 1,344
Non-hedging Derivatives \| Financial Institution Counterparty \| SOFR \| Interest rate caps and corridors
Derivative [Line Items]
Floating Rate	0.00%	0.00%
Non-hedging Derivatives \| Financial Institution Counterparty \| Minimum \| Interest rate swaps
Derivative [Line Items]
Fixed Rate	2.40%	2.40%
Non-hedging Derivatives \| Financial Institution Counterparty \| Minimum \| Interest rate caps and corridors
Derivative [Line Items]
Fixed Rate	3.50%	3.50%
Non-hedging Derivatives \| Financial Institution Counterparty \| Minimum \| LIBOR \| Interest rate swaps
Derivative [Line Items]
Floating Rate	3.00%	3.00%
Non-hedging Derivatives \| Financial Institution Counterparty \| Minimum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate swaps
Derivative [Line Items]
Floating Rate	0.00%	0.00%
Non-hedging Derivatives \| Financial Institution Counterparty \| Minimum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate caps and corridors
Derivative [Line Items]
Floating Rate	0.00%	0.00%
Non-hedging Derivatives \| Financial Institution Counterparty \| Minimum \| Secured Overnight Financing Rate (SOFR) - NYFD \| Interest rate swaps
Derivative [Line Items]
Floating Rate	2.50%	2.50%
Non-hedging Derivatives \| Financial Institution Counterparty \| Maximum \| Interest rate swaps
Derivative [Line Items]
Fixed Rate	7.40%	7.40%
Non-hedging Derivatives \| Financial Institution Counterparty \| Maximum \| Interest rate caps and corridors
Derivative [Line Items]
Fixed Rate	7.50%	7.50%
Non-hedging Derivatives \| Financial Institution Counterparty \| Maximum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate swaps
Derivative [Line Items]
Floating Rate	3.80%	3.80%
Non-hedging Derivatives \| Financial Institution Counterparty \| Maximum \| Secured Overnight Financing Rate (SOFR) - CME \| Interest rate caps and corridors
Derivative [Line Items]
Floating Rate	2.50%	2.50%
Non-hedging Derivatives \| Financial Institution Counterparty \| Maximum \| Secured Overnight Financing Rate (SOFR) - NYFD \| Interest rate swaps
Derivative [Line Items]
Floating Rate	3.00%	3.00%

Operations and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

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 three and nine months ended September 30, 2024 and 2023:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	31,001	$	32,621	$	82,359	$	104,762
Denominator:
Weighted average shares outstanding for basic EPS	54,409		54,300		54,437		54,233
Dilutive effect of employee stock-based awards	523		297		429		330
Adjusted weighted average shares outstanding	54,932		54,597		54,866		54,563
EPS:
Basic	$	0.57	$	0.60	$	1.51	$	1.93
Diluted	$	0.56	$	0.60	$	1.50	$	1.92
Antidilutive shares	498		1,339		948		1,314

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Held-to-maturity debt securities, fair value	$ 161,271	$ 160,021
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)	61,261,938	60,976,462
Treasury stock (in shares)	6,815,764	6,638,094

LHI and ACL - Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Total consumer loans held for investment
Year one	$ 556,964		$ 556,964		$ 701,008
Year two	686,381		686,381		2,326,877
Year three	2,350,890		2,350,890		1,747,195
Year four	1,608,820		1,608,820		816,093
Year five	663,754		663,754		359,111
Prior	1,081,703		1,081,703		1,149,311
Revolving Loans Amortized Cost Basis	2,716,451		2,716,451		2,474,545
Revolving Loans Converted to Term	2,479		2,479		18,985
Total	9,667,442		9,667,442		9,593,125
Total gross charge-offs
Year one			24		0
Year two			217		2,187
Year three			1,223		2
Year four			1,532		2,941
Year five			0		1,301
Prior			12,576		18,935
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	2,313	$ 2,353	15,572	$ 15,429	25,366
Deferred loan fees, net	(8,217)		(8,217)		(8,785)
Pass
Total consumer loans held for investment
Year one	547,225		547,225		685,978
Year two	659,526		659,526		2,256,151
Year three	2,229,093		2,229,093		1,691,168
Year four	1,566,654		1,566,654		780,120
Year five	604,243		604,243		281,293
Prior	921,079		921,079		888,687
Revolving Loans Amortized Cost Basis	2,640,584		2,640,584		2,446,493
Revolving Loans Converted to Term	2,270		2,270		18,876
Total	9,170,674		9,170,674		9,048,766
Special mention
Total consumer loans held for investment
Year one	8,592		8,592		14,390
Year two	16,566		16,566		33,846
Year three	40,562		40,562		46,238
Year four	30,624		30,624		31,174
Year five	40,254		40,254		70,577
Prior	86,610		86,610		101,508
Revolving Loans Amortized Cost Basis	60,111		60,111		12,279
Revolving Loans Converted to Term	209		209		35
Total	283,528		283,528		310,047
Substandard
Total consumer loans held for investment
Year one	1,147		1,147		640
Year two	10,289		10,289		36,880
Year three	81,235		81,235		9,789
Year four	11,542		11,542		4,799
Year five	19,257		19,257		7,241
Prior	62,155		62,155		122,811
Revolving Loans Amortized Cost Basis	15,756		15,756		15,773
Revolving Loans Converted to Term	0		0		74
Total	201,381		201,381		198,007
PCD
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	11,859		11,859		36,305
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	11,859		11,859		36,305
Commercial
Total consumer loans held for investment
Year one	150,221		150,221		320,163
Year two	259,877		259,877		415,270
Year three	335,042		335,042		103,529
Year four	84,369		84,369		39,640
Year five	29,596		29,596		47,302
Prior	82,047		82,047		74,707
Revolving Loans Amortized Cost Basis	1,785,937		1,785,937		1,750,299
Revolving Loans Converted to Term	1,455		1,455		1,153
Total	2,728,544		2,728,544		2,752,063
Total gross charge-offs
Year one			0		0
Year two			217		2,158
Year three			1,192		0
Year four			1,532		2,572
Year five			0		1,083
Prior			5,865		4,600
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	2,259	1,929	8,806	6,520	10,413
Commercial \| Pass
Total consumer loans held for investment
Year one	140,482		140,482		314,939
Year two	254,307		254,307		384,713
Year three	296,002		296,002		86,757
Year four	81,845		81,845		38,554
Year five	29,061		29,061		43,535
Prior	66,609		66,609		45,812
Revolving Loans Amortized Cost Basis	1,710,690		1,710,690		1,725,663
Revolving Loans Converted to Term	1,246		1,246		1,044
Total	2,580,242		2,580,242		2,641,017
Commercial \| Special mention
Total consumer loans held for investment
Year one	8,592		8,592		4,584
Year two	656		656		13,583
Year three	24,121		24,121		12,794
Year four	337		337		541
Year five	5		5		0
Prior	499		499		10,144
Revolving Loans Amortized Cost Basis	60,008		60,008		9,392
Revolving Loans Converted to Term	209		209		35
Total	94,427		94,427		51,073
Commercial \| Substandard
Total consumer loans held for investment
Year one	1,147		1,147		640
Year two	4,914		4,914		16,974
Year three	14,919		14,919		3,978
Year four	2,187		2,187		545
Year five	530		530		3,767
Prior	14,599		14,599		15,843
Revolving Loans Amortized Cost Basis	15,239		15,239		15,244
Revolving Loans Converted to Term	0		0		74
Total	53,535		53,535		57,065
Commercial \| PCD
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	340		340		2,908
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	340		340		2,908
MW
Total consumer loans held for investment
Year one	0		0		1,905
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	630,650		630,650		375,891
Revolving Loans Converted to Term	0		0		0
Total	630,650		630,650		377,796
Total gross charge-offs
Year one			0		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, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total			0		0
MW \| Pass
Total consumer loans held for investment
Year one	0		0		1,905
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	630,650		630,650		375,891
Revolving Loans Converted to Term	0		0		0
Total	630,650		630,650		377,796
MW \| Substandard
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	0		0
Revolving Loans Amortized Cost Basis	0		0
Revolving Loans Converted to Term	0		0
Total	0		0
Consumer
Total consumer loans held for investment
Year one	4,215		4,215		4,552
Year two	2,357		2,357		1,045
Year three	704		704		280
Year four	213		213		604
Year five	437		437		101
Prior	1,530		1,530		1,839
Revolving Loans Amortized Cost Basis	1,836		1,836		1,728
Revolving Loans Converted to Term	0		0		0
Total	11,292		11,292		10,149
Total gross charge-offs
Year one			24		0
Year two			0		29
Year three			0		2
Year four			0		0
Year five			0		0
Prior			131		205
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	54	49	155	203	236
Consumer \| Pass
Total consumer loans held for investment
Year one	4,215		4,215		4,552
Year two	2,357		2,357		1,045
Year three	704		704		276
Year four	213		213		604
Year five	433		433		89
Prior	1,388		1,388		1,678
Revolving Loans Amortized Cost Basis	1,836		1,836		1,728
Revolving Loans Converted to Term	0		0		0
Total	11,146		11,146		9,972
Consumer \| Special mention
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	75		75		85
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	75		75		85
Consumer \| Substandard
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		4
Year four	0		0		0
Year five	4		4		12
Prior	58		58		63
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	62		62		79
Consumer \| PCD
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	9		9		13
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	9		9		13
Construction and land \| Real Estate
Total consumer loans held for investment
Year one	87,067		87,067		116,926
Year two	102,100		102,100		760,573
Year three	804,853		804,853		543,926
Year four	194,265		194,265		112,702
Year five	25,847		25,847		3,089
Prior	5,698		5,698		12,421
Revolving Loans Amortized Cost Basis	216,710		216,710		184,617
Revolving Loans Converted to Term	0		0		0
Total	1,436,540		1,436,540		1,734,254
Total gross charge-offs
Year one			0		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, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	0	0	0	0	0
Construction and land \| Real Estate \| Pass
Total consumer loans held for investment
Year one	87,067		87,067		116,333
Year two	89,894		89,894		740,244
Year three	791,290		791,290		538,946
Year four	169,396		169,396		109,017
Year five	25,816		25,816		3,089
Prior	5,698		5,698		3,661
Revolving Loans Amortized Cost Basis	216,710		216,710		181,940
Revolving Loans Converted to Term	0		0		0
Total	1,385,871		1,385,871		1,693,230
Construction and land \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	0		0		593
Year two	12,206		12,206		13,782
Year three	7,016		7,016		4,980
Year four	24,869		24,869		3,439
Year five	0		0		0
Prior	0		0		8,760
Revolving Loans Amortized Cost Basis	0		0		2,677
Revolving Loans Converted to Term	0		0		0
Total	44,091		44,091		34,231
Construction and land \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		6,547
Year three	6,547		6,547		0
Year four	0		0		246
Year five	31		31		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	6,578		6,578		6,793
Farmland \| Real Estate
Total consumer loans held for investment
Year one	2,704		2,704		2,531
Year two	2,492		2,492		4,398
Year three	2,350		2,350		0
Year four	0		0		17,999
Year five	17,591		17,591		15
Prior	4,474		4,474		4,944
Revolving Loans Amortized Cost Basis	2,643		2,643		1,227
Revolving Loans Converted to Term	0		0		0
Total	32,254		32,254		31,114
Total gross charge-offs
Year one			0		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, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	0	0	0	0	0
Farmland \| Real Estate \| Pass
Total consumer loans held for investment
Year one	2,704		2,704		2,531
Year two	2,492		2,492		4,398
Year three	2,350		2,350		0
Year four	0		0		17,999
Year five	17,591		17,591		15
Prior	4,474		4,474		4,944
Revolving Loans Amortized Cost Basis	2,643		2,643		1,227
Revolving Loans Converted to Term	0		0		0
Total	32,254		32,254		31,114
Residential Real Estate \| Single Family \| Real Estate
Total consumer loans held for investment
Year one	64,790		64,790		77,021
Year two	77,652		77,652		141,499
Year three	194,024		194,024		194,816
Year four	353,003		353,003		79,767
Year five	87,060		87,060		38,695
Prior	129,014		129,014		273,262
Revolving Loans Amortized Cost Basis	38,611		38,611		114,804
Revolving Loans Converted to Term	601		601		17,255
Total	944,755		944,755		937,119
Total gross charge-offs
Year one			0		0
Year two			0		0
Year three			31		0
Year four			0		0
Year five			0		21
Prior			0		0
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	0	0	31	0	21
Residential Real Estate \| Single Family \| Real Estate \| Pass
Total consumer loans held for investment
Year one	64,790		64,790		73,289
Year two	73,948		73,948		140,824
Year three	193,889		193,889		193,914
Year four	352,162		352,162		79,767
Year five	87,010		87,010		38,589
Prior	125,022		125,022		270,193
Revolving Loans Amortized Cost Basis	37,991		37,991		114,275
Revolving Loans Converted to Term	601		601		17,255
Total	935,413		935,413		928,106
Residential Real Estate \| Single Family \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	0		0		3,732
Year two	3,704		3,704		531
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	1,576		1,576		238
Revolving Loans Amortized Cost Basis	103		103		0
Revolving Loans Converted to Term	0		0		0
Total	5,383		5,383		4,501
Residential Real Estate \| Single Family \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		144
Year three	135		135		902
Year four	841		841		0
Year five	50		50		106
Prior	1,358		1,358		1,701
Revolving Loans Amortized Cost Basis	517		517		529
Revolving Loans Converted to Term	0		0		0
Total	2,901		2,901		3,382
Residential Real Estate \| Single Family \| Real Estate \| PCD
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	1,058		1,058		1,130
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	1,058		1,058		1,130
Residential Real Estate \| Multi-family residential \| Real Estate
Total consumer loans held for investment
Year one	25,113		25,113		9,441
Year two	11,699		11,699		82,040
Year three	123,932		123,932		257,714
Year four	360,601		360,601		196,575
Year five	199,468		199,468		8,054
Prior	17,277		17,277		41,366
Revolving Loans Amortized Cost Basis	0		0		10,627
Revolving Loans Converted to Term	0		0		0
Total	738,090		738,090		605,817
Total gross charge-offs
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Year five			0		192
Prior			198		0
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	0	0	198	0	192
Residential Real Estate \| Multi-family residential \| Real Estate \| Pass
Total consumer loans held for investment
Year one	25,113		25,113		9,441
Year two	11,699		11,699		82,040
Year three	123,366		123,366		257,714
Year four	360,601		360,601		196,575
Year five	199,468		199,468		8,054
Prior	17,277		17,277		14,570
Revolving Loans Amortized Cost Basis	0		0		10,627
Revolving Loans Converted to Term	0		0		0
Total	737,524		737,524		579,021
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		0
Year two	0		0		0
Year three	566		566		0
Year four	0		0		0
Year five	0		0		0
Prior	0		0		15,095
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	566		566		15,095
Commercial Real Estate \| OOCRE \| Real Estate
Total consumer loans held for investment
Year one	50,199		50,199		134,944
Year two	165,510		165,510		188,134
Year three	182,224		182,224		117,817
Year four	103,543		103,543		94,882
Year five	81,449		81,449		42,573
Prior	219,276		219,276		210,910
Revolving Loans Amortized Cost Basis	5,022		5,022		4,828
Revolving Loans Converted to Term	0		0		0
Total	807,223		807,223		794,088
Total gross charge-offs
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		369
Year five			0		5
Prior			120		481
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	0	375	120	491	855
Commercial Real Estate \| OOCRE \| Real Estate \| Pass
Total consumer loans held for investment
Year one	50,199		50,199		129,463
Year two	160,135		160,135		178,777
Year three	181,759		181,759		113,207
Year four	96,974		96,974		90,219
Year five	77,140		77,140		39,876
Prior	197,946		197,946		166,270
Revolving Loans Amortized Cost Basis	5,022		5,022		4,618
Revolving Loans Converted to Term	0		0		0
Total	769,175		769,175		722,430
Commercial Real Estate \| OOCRE \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	0		0		5,481
Year two	0		0		0
Year three	465		465		2,479
Year four	1,151		1,151		1,019
Year five	953		953		1,961
Prior	6,184		6,184		14,775
Revolving Loans Amortized Cost Basis	0		0		210
Revolving Loans Converted to Term	0		0		0
Total	8,753		8,753		25,925
Commercial Real Estate \| OOCRE \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0		0		0
Year two	5,375		5,375		9,357
Year three	0		0		2,131
Year four	5,418		5,418		3,644
Year five	3,356		3,356		736
Prior	5,120		5,120		11,695
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	19,269		19,269		27,563
Commercial Real Estate \| OOCRE \| Real Estate \| PCD
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	10,026		10,026		18,170
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	10,026		10,026		18,170
Commercial Real Estate \| NOOCRE \| Real Estate
Total consumer loans held for investment
Year one	172,655		172,655		33,525
Year two	64,694		64,694		733,918
Year three	707,761		707,761		529,113
Year four	512,826		512,826		273,924
Year five	222,306		222,306		219,282
Prior	622,387		622,387		529,862
Revolving Loans Amortized Cost Basis	35,042		35,042		30,524
Revolving Loans Converted to Term	423		423		577
Total	2,338,094		2,338,094		2,350,725
Total gross charge-offs
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Year five			0		0
Prior			6,262		13,649
Revolving Loans Amortized Cost Basis, Write Off			0		0
Revolving Loans Converted to Term, Write Off			0		0
Total	0	$ 0	6,262	$ 8,215	13,649
Commercial Real Estate \| NOOCRE \| Real Estate \| Pass
Total consumer loans held for investment
Year one	172,655		172,655		33,525
Year two	64,694		64,694		724,110
Year three	639,733		639,733		500,354
Year four	505,463		505,463		247,385
Year five	167,724		167,724		148,046
Prior	502,665		502,665		381,559
Revolving Loans Amortized Cost Basis	35,042		35,042		30,524
Revolving Loans Converted to Term	423		423		577
Total	2,088,399		2,088,399		2,066,080
Commercial Real Estate \| NOOCRE \| Real Estate \| Special mention
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		5,950
Year three	8,960		8,960		25,985
Year four	4,267		4,267		26,175
Year five	39,296		39,296		68,616
Prior	78,276		78,276		55,805
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	130,799		130,799		182,531
Commercial Real Estate \| NOOCRE \| Real Estate \| Substandard
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		3,858
Year three	59,068		59,068		2,774
Year four	3,096		3,096		364
Year five	15,286		15,286		2,620
Prior	41,020		41,020		78,414
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	118,470		118,470		88,030
Commercial Real Estate \| NOOCRE \| Real Estate \| PCD
Total consumer loans held for investment
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Year five	0		0		0
Prior	426		426		14,084
Revolving Loans Amortized Cost Basis	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	$ 426		$ 426		$ 14,084

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$ 167,261	$ 167,368	$ 496,182	$ 482,802
Debt securities	15,830	10,928	44,933	32,082
Deposits in financial institutions and Federal Funds sold	12,571	7,128	28,343	20,169
Equity securities and other investments	1,001	1,691	3,039	4,217
Total interest and dividend income	196,663	187,115	572,497	539,270
INTEREST EXPENSE
Transaction and savings deposits	47,208	39,936	139,611	102,750
Certificates and other time deposits	46,230	36,177	131,533	85,244
Advances from FHLB	47	8,523	2,906	38,443
Subordinated debentures and subordinated notes	3,116	3,118	9,343	9,252
Total interest expense	96,601	87,754	283,393	235,689
NET INTEREST INCOME	100,062	99,361	289,104	303,581
Provision for credit losses	4,000	8,627	19,750	33,012
Benefit for credit losses on unfunded commitments	0	(909)	(1,541)	(541)
Net interest income after provision (benefit) for credit losses	96,062	91,643	270,895	271,110
NONINTEREST INCOME
Service charges and fees on deposit accounts	5,442	5,159	15,312	15,448
Loan fees	3,278	1,564	7,995	5,148
Loss on sales of debt securities	0	0	(6,304)	(5,321)
Government guaranteed loan income, net	780	1,772	4,714	15,604
Equity method investment loss	0	(136)	0	(1,172)
Customer swap income	271	202	1,046	1,380
Other	3,335	1,113	7,583	5,810
Total noninterest income	13,106	9,674	30,346	36,897
NONINTEREST EXPENSE
Salaries and employee benefits	37,370	30,949	103,525	91,464
Occupancy and equipment	4,789	4,881	14,051	14,681
Professional and regulatory fees	4,903	7,283	16,573	18,540
Data processing and software expense	5,268	4,541	15,221	13,970
Marketing	2,781	2,353	6,303	6,759
Amortization of intangibles	2,438	2,438	7,314	7,401
Telephone and communications	335	362	961	1,195
Other	12,216	6,607	31,409	19,216
Total noninterest expense	70,100	59,414	195,357	173,226
Income before income tax expense	39,068	41,903	105,884	134,781
Provision for income taxes	8,067	9,282	23,525	30,019
NET INCOME	$ 31,001	$ 32,621	$ 82,359	$ 104,762
Basic EPS (in dollars per share)	$ 0.57	$ 0.60	$ 1.51	$ 1.93
Diluted EPS (in dollars per share)	$ 0.56	$ 0.60	$ 1.50	$ 1.92

LHI and ACL - Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Servicing Asset at Amortized Cost [Line Items]
Loans	$ 9,667,442		$ 9,593,125
ACL Allocation	117,162	$ 113,431	109,816	$ 109,831	$ 102,150	$ 91,052
Real Estate \| Commercial Real Estate \| OOCRE
Servicing Asset at Amortized Cost [Line Items]
Loans	807,223		794,088
ACL Allocation	16,907	13,100	10,252	7,719	7,519	8,707
Real Estate \| Commercial Real Estate \| NOOCRE
Servicing Asset at Amortized Cost [Line Items]
Loans	2,338,094		2,350,725
ACL Allocation	40,532	33,363	27,729	29,819	27,875	26,704
Commercial
Servicing Asset at Amortized Cost [Line Items]
Loans	2,728,544		2,752,063
ACL Allocation	23,878	$ 29,561	35,886	$ 37,639	$ 34,197	$ 30,142
Real Property
Servicing Asset at Amortized Cost [Line Items]
Loans	10,421		44,939
Real Property \| Real Estate \| Commercial Real Estate \| OOCRE
Servicing Asset at Amortized Cost [Line Items]
Loans	0		3,059
Real Property \| Real Estate \| Commercial Real Estate \| NOOCRE
Servicing Asset at Amortized Cost [Line Items]
Loans	9,449		21,169
Real Property \| Commercial
Servicing Asset at Amortized Cost [Line Items]
Loans	972		20,711
ACL Allocation
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	197		3,386
ACL Allocation \| Real Estate \| Commercial Real Estate \| OOCRE
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	0		47
ACL Allocation \| Real Estate \| Commercial Real Estate \| NOOCRE
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	0		0
ACL Allocation \| Commercial
Servicing Asset at Amortized Cost [Line Items]
ACL Allocation	$ 197		$ 3,339

Capital Requirements and Restrictions on Retained Earnings (Tables)

9 Months Ended

Sep. 30, 2024

Regulatory Capital Requirements under Banking Regulations [Abstract]

Schedule of Comparison of the Company's and Bank's Actual Capital Amounts and Ratios to Required Capital Amounts and Ratios

A comparison of the Company’s and Bank’s actual capital amounts and ratios to required capital amounts and ratios as of September 30, 2024 and December 31, 2023 is presented in the following table:


	Actual				For Capital Adequacy Purposes				To Be Well Capitalized Under PCA Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of September 30, 2024
Total capital (to RWA)
Company	$	1,570,044	13.91	%	$	902,973	8.0	%	$	1,128,716	10.0	%
Bank	1,499,516		13.34		899,260		8.0		1,124,075		10.0
Tier 1 capital (to RWA)
Company	1,256,685		11.13		677,458		6.0		677,458		6.0
Bank	1,385,620		12.33		674,268		6.0		899,024		8.0
CET1 (to RWA)
Company	1,226,630		10.86		508,272		4.5		n/a		n/a
Bank	1,385,620		12.33		505,701		4.5		730,457		6.5
Tier 1 capital (to average assets)
Company	1,256,685		10.06		499,676		4.0		n/a		n/a
Bank	1,385,620		11.13		497,977		4.0		622,471		5.0
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

Stock-Based Awards - 2022 Grant Terms and Stock Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, cliff vesting period (in years)			3 years
2022 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 2,923	$ 2,471	$ 8,139	$ 7,616
Veritex (Green) 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 274	$ 489	$ 1,114	$ 1,398

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share Transactions - Schedule of Shares Repurchased (Details) - Common Stock - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	1,982	0	177,670	0
Weighted average price per share (in dollars per share)	$ 20.24	$ 0	$ 19.91	$ 0

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense for the period	$ 8,067	$ 9,282	$ 23,525	$ 30,019
Effective tax rate	20.60%	22.20%	22.20%	22.30%
One-time tax expense	$ 224		$ 224
Effective income tax rate reconciliation, valuation allowance	941		941
Net discrete tax expense (benefit), true-up adjustment	$ 91	$ 505	$ 501	$ 658
Effective tax rate excluding discrete tax item	22.20%	20.90%	22.40%	21.80%
Valuation allowance	$ 4,249		$ 4,249		$ 0
Return to provision adjustment				$ 505
Excess tax expense, share-based payment awards				$ 153

LHI and ACL - Trouble Debt Restructuring (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 117,546
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	16,484
Combination - Interest Rate Reduction and Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	61,266
30 to 59 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	121
60 to 89 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	0
90 Days or Greater
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	3,328
Real Estate \| Construction and land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	12,206
Real Estate \| Construction and land \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 12,206
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	0.80%
Real Estate \| Construction and land \| 30 to 59 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 0
Real Estate \| Construction and land \| 60 to 89 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	0
Real Estate \| Construction and land \| 90 Days or Greater
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	0
Commercial \| Combination - Interest Rate Reduction and Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 4,631
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	0.20%
Commercial \| Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 18,375
Commercial \| Commercial Real Estate \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 872
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	0.00%
Commercial \| Commercial Real Estate \| 30 to 59 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 121
Commercial \| Commercial Real Estate \| 60 to 89 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	0
Commercial \| Commercial Real Estate \| 90 Days or Greater
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	1,921
NOOCRE \| Real Estate \| Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	86,965
NOOCRE \| Real Estate \| Commercial Real Estate \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 28,331
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	1.20%
NOOCRE \| Real Estate \| Commercial Real Estate \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 3,406
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	0.10%
NOOCRE \| Real Estate \| Commercial Real Estate \| Combination - Interest Rate Reduction and Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 56,635
Financing receivable, troubled debt restructuring, postmodification percentage (in percent)	2.40%
NOOCRE \| Real Estate \| Commercial Real Estate \| 30 to 59 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 0
NOOCRE \| Real Estate \| Commercial Real Estate \| 60 to 89 Days
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	0
NOOCRE \| Real Estate \| Commercial Real Estate \| 90 Days or Greater
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, troubled debt restructuring, postmodification	$ 1,407

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 07, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		54,483,871
Entity Central Index Key	0001501570
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Capital Requirements and Restrictions on Retained Earnings

9 Months Ended

Sep. 30, 2024

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 PCA, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain OBS 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.

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 RWA, 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 September 30, 2024 and December 31, 2023, 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 September 30, 2024 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.


	Actual				For Capital Adequacy Purposes				To Be Well Capitalized Under PCA Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of September 30, 2024
Total capital (to RWA)
Company	$	1,570,044	13.91	%	$	902,973	8.0	%	$	1,128,716	10.0	%
Bank	1,499,516		13.34		899,260		8.0		1,124,075		10.0
Tier 1 capital (to RWA)
Company	1,256,685		11.13		677,458		6.0		677,458		6.0
Bank	1,385,620		12.33		674,268		6.0		899,024		8.0
CET1 (to RWA)
Company	1,226,630		10.86		508,272		4.5		n/a		n/a
Bank	1,385,620		12.33		505,701		4.5		730,457		6.5
Tier 1 capital (to average assets)
Company	1,256,685		10.06		499,676		4.0		n/a		n/a
Bank	1,385,620		11.13		497,977		4.0		622,471		5.0
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

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 $6,000 and $83,500 were paid by the Bank to the Holdco during the three and nine months ending September 30, 2024, respectively. Dividends of $20,000 and $40,000 were paid by the Bank to the Holdco during the three and nine months ended September 30, 2023.

Dividends of $10,881, or $0.20 per outstanding share of the Company’s common stock, and $32,680, or $0.60 per outstanding share of the Company’s common stock, were paid by the Company during the three and nine months ended September 30, 2024, respectively. Dividends of $10,861, or $0.20 per outstanding share, and $32,548, or $0.60 per outstanding share of the Company’s common stock were paid by the Company during the three and nine months ended September 30, 2023, respectively.

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 5.34% as of September 30, 2024.

- Definition

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.

+ References + Details

Capital Requirements and Restrictions on Retained Earnings (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($)
Total capital (to RWA)
Actual amount	$ 1,570,044		$ 1,570,044		$ 1,500,703
Actual ratio (as a percent)	0.1391		0.1391		0.1318
For capital adequacy purposes amount	$ 902,973		$ 902,973		$ 910,897
For capital adequacy purposes ratio (as a percent)	0.080		0.080		0.080
To be well capitalized under prompt corrective action provisions amount	$ 1,128,716		$ 1,128,716
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.100		0.100
Tier 1 capital (to RWA)
Actual amount	$ 1,256,685		$ 1,256,685		$ 1,202,252
Actual ratio (as a percent)	0.1113		0.1113		0.1056
For capital adequacy purposes amount	$ 677,458		$ 677,458		$ 683,098
For capital adequacy purposes ratio (as a percent)	0.060		0.060		0.060
To be well capitalized under prompt corrective action provisions amount	$ 677,458		$ 677,458
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.060		0.060
CET1 (to RWA)
Actual amount	$ 1,226,630		$ 1,226,630		$ 1,172,362
Actual ratio (as a percent)	10.86%		10.86%		10.29%
For capital adequacy purposes amount	$ 508,272		$ 508,272		$ 512,695
For capital adequacy purposes amount (as a percent)	4.50%		4.50%		4.50%
Tier 1 capital (to average assets)
Actual amount	$ 1,256,685		$ 1,256,685		$ 1,202,252
Actual ratio (as a percent)	0.1006		0.1006		0.1003
For capital adequacy purposes amount	$ 499,676		$ 499,676		$ 479,462
For capital adequacy purposes ratio (as a percent)	0.040		0.040		0.040
Dividends paid	$ 10,881	$ 10,861	$ 32,680	$ 32,548
Bank's capital conservation buffer (in percent)	0.0534		0.0534
Bank
Total capital (to RWA)
Actual amount	$ 1,499,516		$ 1,499,516		$ 1,467,960
Actual ratio (as a percent)	0.1334		0.1334		0.1290
For capital adequacy purposes amount	$ 899,260		$ 899,260		$ 910,363
For capital adequacy purposes ratio (as a percent)	0.080		0.080		0.080
To be well capitalized under prompt corrective action provisions amount	$ 1,124,075		$ 1,124,075		$ 1,137,953
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.100		0.100		0.100
Tier 1 capital (to RWA)
Actual amount	$ 1,385,620		$ 1,385,620		$ 1,368,384
Actual ratio (as a percent)	0.1233		0.1233		0.1203
For capital adequacy purposes amount	$ 674,268		$ 674,268		$ 682,486
For capital adequacy purposes ratio (as a percent)	0.060		0.060		0.060
To be well capitalized under prompt corrective action provisions amount	$ 899,024		$ 899,024		$ 909,981
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.080		0.080		0.080
CET1 (to RWA)
Actual amount	$ 1,385,620		$ 1,385,620		$ 1,368,384
Actual ratio (as a percent)	12.33%		12.33%		12.03%
For capital adequacy purposes amount	$ 505,701		$ 505,701		$ 511,864
For capital adequacy purposes amount (as a percent)	4.50%		4.50%		4.50%
To be well capitalized under prompt corrective action provisions amount	$ 730,457		$ 730,457		$ 739,360
To be well capitalized under prompt corrective action provisions ratio (as a percent)	6.50%		6.50%		6.50%
Tier 1 capital (to average assets)
Actual amount	$ 1,385,620		$ 1,385,620		$ 1,368,384
Actual ratio (as a percent)	0.1113		0.1113		0.1143
For capital adequacy purposes amount	$ 497,977		$ 497,977		$ 478,875
For capital adequacy purposes ratio (as a percent)	0.040		0.040		0.040
To be well capitalized under prompt corrective action provisions amount	$ 622,471		$ 622,471		$ 598,593
To be well capitalized under prompt corrective action provisions ratio (as a percent)	0.050		0.050		0.050
Dividends paid to Holdco	$ 6,000	20,000	$ 83,500	40,000
Veritex Holdings, Inc.
Tier 1 capital (to average assets)
Dividends paid	$ 10,881	$ 10,861	$ 32,680	$ 32,548
Dividends paid (in dollars per share) \| $ / shares	$ 0.20	$ 0.20	$ 0.60	$ 0.60

OBS Loan Commitments

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

OBS Loan Commitments

The Company is party to financial instruments with OBS 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 September 30, 2024 and December 31, 2023:


	September 30,		December 31,
	2024		2023
Commitments to extend credit	$	2,816,528	$	3,083,501
MW commitments	487,350		803,704
Standby and commercial letters of credit	113,780		111,590
Total	$	3,417,658	$	3,998,795

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 substantially the same as that involved in making commitments to extend credit.

The table below presents the activity in the allowance for unfunded commitment credit losses related to those financial instruments discussed above. This ACL on unfunded commitments is recorded in accounts payable and other liabilities on the consolidated balance sheets:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Beginning balance for ACL on unfunded commitments	$	6,504	$	10,454	$	8,045	$	10,086
Benefit for credit losses on unfunded commitments	—		(909)		(1,541)		(541)
Ending balance of ACL on unfunded commitments	$	6,504	$	9,545	$	6,504	$	9,545

Supplemental Statement of Cash Flows (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Schedule of Other Supplemental Cash Flow Information

Other supplemental cash flow information is presented below:


	Nine Months Ended September 30,
	2024		2023
	(in thousands)

Cash paid for interest	$	283,619	$	208,668
Cash paid for income taxes	9,766		38,893

Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial assets:
HTM debt securities	$ 161,271	$ 160,021
Equity securities without a readily determinable fair value	48,582	11,624
FHLB and FRB stock	47,862	53,699
Financial liabilities:
Subordinated debentures and subordinated notes	230,536	229,783
Carrying Amount
Financial assets:
Cash and cash equivalents	1,100,790	629,063
HTM debt securities	180,364	180,403
LHFS	1,098	11,288
LHI	9,541,363	9,577,180
Accrued interest receivable	47,392	53,313
BOLI	84,776	84,833
Servicing asset	8,335	6,576
Equity securities without a readily determinable fair value	48,582	11,624
FHLB and FRB stock	47,862	53,699
Financial liabilities:
Noninterest-bearing deposits	2,643,894	2,218,036
Interest-bearing deposits	8,392,117	8,120,159
Advances from FHLB	0	100,000
Accrued interest payable	39,555	41,948
Subordinated debentures and subordinated notes	230,536	229,783
Level 1 \| Fair Value
Financial assets:
Cash and cash equivalents	0	0
HTM debt securities	0	0
LHFS	0	0
LHI	0	0
Accrued interest receivable	0	0
BOLI	0	0
Servicing asset	0	0
Financial liabilities:
Noninterest-bearing deposits	0	0
Interest-bearing deposits	0	0
Advances from FHLB	0	0
Accrued interest payable	0	0
Subordinated debentures and subordinated notes	0	0
Level 2 \| Fair Value
Financial assets:
Cash and cash equivalents	1,100,790	629,063
HTM debt securities	161,271	160,021
LHFS	1,098	11,288
LHI	0	0
Accrued interest receivable	47,392	53,313
BOLI	84,776	84,833
Servicing asset	8,335	6,576
Financial liabilities:
Noninterest-bearing deposits	2,643,894	2,218,036
Interest-bearing deposits	8,260,577	8,096,209
Advances from FHLB	0	100,051
Accrued interest payable	39,555	41,948
Subordinated debentures and subordinated notes	230,536	229,783
Level 3 \| Fair Value
Financial assets:
Cash and cash equivalents	0	0
HTM debt securities	0	0
LHFS	0	0
LHI	9,491,260	9,322,744
Accrued interest receivable	0	0
BOLI	0	0
Servicing asset	0	0
Financial liabilities:
Noninterest-bearing deposits	0	0
Interest-bearing deposits	0	0
Advances from FHLB	0	0
Accrued interest payable	0	0
Subordinated debentures and subordinated notes	$ 0	$ 0

Stock-Based Awards - Veritex (Green) 2014 Plan - Fair Value Options Exercised and Restricted Stock Units Vested (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
2022 Equity Plan \| Non-Performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-performance-based stock options exercised	$ 32	$ 66
2022 Equity Plan \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instrument other than option, units vested	4,547	3,800
2022 Equity Plan \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instrument other than option, units vested	1,608	1,070
Veritex (Green) 2014 Plan \| Non-Performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-performance-based stock options exercised	178	18
Veritex (Green) 2014 Plan \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instrument other than option, units vested	1,420	2,169
Veritex (Green) 2014 Plan \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instrument other than option, units vested	$ 149	$ 227

- Definition

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.

+ References

+ Details

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restricted Stock Units
Shares withheld to cover tax withholdings (in shares)	28,981	12,354	113,694	86,779
Employee Stock Options
Shares withheld to cover tax withholdings (in shares)	492		492	121
Shares withheld to cover exercise price (in shares)	1,798		1,798	9,729

LHI and ACL - Past Due (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Non-Accrual and Past Due Loans
Loans	$ 9,667,442	$ 9,593,125
Total 90 days past due and still accruing	2,860	2,975
Total Past Due
Non-Accrual and Past Due Loans
Loans	65,273	111,515
30 to 59 Days
Non-Accrual and Past Due Loans
Loans	17,394	56,492
60 to 89 Days
Non-Accrual and Past Due Loans
Loans	8,522	4,685
90 Days or Greater
Non-Accrual and Past Due Loans
Loans	39,357	50,338
Total Current
Non-Accrual and Past Due Loans
Loans	9,602,169	9,481,610
Real Estate \| Construction and land
Non-Accrual and Past Due Loans
Loans	1,436,540	1,734,254
Total 90 days past due and still accruing	0	0
Real Estate \| Construction and land \| Total Past Due
Non-Accrual and Past Due Loans
Loans	6,578	36,172
Real Estate \| Construction and land \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	0	29,379
Real Estate \| Construction and land \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	0	0
Real Estate \| Construction and land \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	6,578	6,793
Real Estate \| Construction and land \| Total Current
Non-Accrual and Past Due Loans
Loans	1,429,962	1,698,082
Real Estate \| Farmland
Non-Accrual and Past Due Loans
Loans	32,254	31,114
Total 90 days past due and still accruing	0	0
Real Estate \| Farmland \| Total Past Due
Non-Accrual and Past Due Loans
Loans	0	0
Real Estate \| Farmland \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	0	0
Real Estate \| Farmland \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	0	0
Real Estate \| Farmland \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	0	0
Real Estate \| Farmland \| Total Current
Non-Accrual and Past Due Loans
Loans	32,254	31,114
Real Estate \| Residential Real Estate \| 1 - 4 family residential
Non-Accrual and Past Due Loans
Loans	944,755	937,119
Total 90 days past due and still accruing	2,137	1,726
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| Total Past Due
Non-Accrual and Past Due Loans
Loans	5,942	10,585
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	790	4,359
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	1,290	2,535
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	3,862	3,691
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| Total Current
Non-Accrual and Past Due Loans
Loans	938,813	926,534
Real Estate \| Residential Real Estate \| Multi-family residential
Non-Accrual and Past Due Loans
Loans	738,090	605,817
Total 90 days past due and still accruing	0	0
Real Estate \| Residential Real Estate \| Multi-family residential \| Total Past Due
Non-Accrual and Past Due Loans
Loans	566	15,095
Real Estate \| Residential Real Estate \| Multi-family residential \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	0	15,095
Real Estate \| Residential Real Estate \| Multi-family residential \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	566	0
Real Estate \| Residential Real Estate \| Multi-family residential \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	0	0
Real Estate \| Residential Real Estate \| Multi-family residential \| Total Current
Non-Accrual and Past Due Loans
Loans	737,524	590,722
Real Estate \| Commercial Real Estate \| OOCRE
Non-Accrual and Past Due Loans
Loans	807,223	794,088
Total 90 days past due and still accruing	723	466
Real Estate \| Commercial Real Estate \| OOCRE \| Total Past Due
Non-Accrual and Past Due Loans
Loans	8,057	11,215
Real Estate \| Commercial Real Estate \| OOCRE \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	905	916
Real Estate \| Commercial Real Estate \| OOCRE \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	776	114
Real Estate \| Commercial Real Estate \| OOCRE \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	6,376	10,185
Real Estate \| Commercial Real Estate \| OOCRE \| Total Current
Non-Accrual and Past Due Loans
Loans	799,166	782,873
Real Estate \| Commercial Real Estate \| NOOCRE
Non-Accrual and Past Due Loans
Loans	2,338,094	2,350,725
Total 90 days past due and still accruing	0	783
Real Estate \| Commercial Real Estate \| NOOCRE \| Total Past Due
Non-Accrual and Past Due Loans
Loans	29,464	24,371
Real Estate \| Commercial Real Estate \| NOOCRE \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	14,983	3,182
Real Estate \| Commercial Real Estate \| NOOCRE \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	2,595	642
Real Estate \| Commercial Real Estate \| NOOCRE \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	11,886	20,547
Real Estate \| Commercial Real Estate \| NOOCRE \| Total Current
Non-Accrual and Past Due Loans
Loans	2,308,630	2,326,354
Commercial
Non-Accrual and Past Due Loans
Loans	2,728,544	2,752,063
Total 90 days past due and still accruing	0	0
Commercial \| Total Past Due
Non-Accrual and Past Due Loans
Loans	14,582	14,001
Commercial \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	632	3,485
Commercial \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	3,295	1,394
Commercial \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	10,655	9,122
Commercial \| Total Current
Non-Accrual and Past Due Loans
Loans	2,713,962	2,738,062
MW
Non-Accrual and Past Due Loans
Loans	630,650	377,796
Total 90 days past due and still accruing	0	0
MW \| Total Past Due
Non-Accrual and Past Due Loans
Loans	0	0
MW \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	0	0
MW \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	0	0
MW \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	0	0
MW \| Total Current
Non-Accrual and Past Due Loans
Loans	630,650	377,796
Consumer
Non-Accrual and Past Due Loans
Loans	11,292	10,149
Total 90 days past due and still accruing	0	0
Consumer \| Total Past Due
Non-Accrual and Past Due Loans
Loans	84	76
Consumer \| 30 to 59 Days
Non-Accrual and Past Due Loans
Loans	84	76
Consumer \| 60 to 89 Days
Non-Accrual and Past Due Loans
Loans	0	0
Consumer \| 90 Days or Greater
Non-Accrual and Past Due Loans
Loans	0	0
Consumer \| Total Current
Non-Accrual and Past Due Loans
Loans	$ 11,208	$ 10,073

Derivative Financial Instruments - Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional Amount	$ 3,529,980	$ 3,833,144
Asset Derivative
Gross derivatives	7,364	20,820
Offsetting derivative assets	(22,218)	(29,463)
Liability Derivative
Gross derivatives	33,375	48,612
Offsetting derivative liabilities	(22,218)	(29,463)
Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	1,550,000	1,475,000
Asset Derivative
Gross derivatives	10,052	18,814
Liability Derivative
Gross derivatives	36,478	47,121
Designated as Hedging Instrument \| Interest rate swap on money market deposit account payments
Derivative [Line Items]
Notional Amount	250,000	250,000
Asset Derivative
Gross derivatives	4,693	12,208
Liability Derivative
Gross derivatives	0	0
Designated as Hedging Instrument \| Interest rate swaps on variable rate funding sources
Derivative [Line Items]
Notional Amount	275,000	200,000
Asset Derivative
Gross derivatives	0	0
Liability Derivative
Gross derivatives	4,773	4,296
Designated as Hedging Instrument \| Interest rate swaps on customer loan interest payments
Derivative [Line Items]
Notional Amount	375,000	375,000
Asset Derivative
Gross derivatives	0	0
Liability Derivative
Gross derivatives	30,989	40,055
Designated as Hedging Instrument \| Interest rate collars on customer loan interest payments
Derivative [Line Items]
Notional Amount	450,000	450,000
Asset Derivative
Gross derivatives	1,925	2,304
Liability Derivative
Gross derivatives	716	2,770
Designated as Hedging Instrument \| Interest rate floor on customer loan interest payments
Derivative [Line Items]
Notional Amount	200,000	200,000
Asset Derivative
Gross derivatives	3,434	4,302
Liability Derivative
Gross derivatives	0	0
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	1,979,980	2,358,144
Asset Derivative
Gross derivatives	19,530	31,469
Liability Derivative
Gross derivatives	19,115	30,954
Financial Institution Counterparty \| Not Designated as Hedging Instrument \| Interest rate swaps
Derivative [Line Items]
Notional Amount	862,120	893,702
Asset Derivative
Gross derivatives	14,846	28,007
Liability Derivative
Gross derivatives	4,790	2,322
Financial Institution Counterparty \| Not Designated as Hedging Instrument \| Interest rate caps and corridors
Derivative [Line Items]
Notional Amount	127,870	285,370
Asset Derivative
Gross derivatives	190	1,344
Liability Derivative
Gross derivatives	0	0
Commercial Customer Counterparty \| Not Designated as Hedging Instrument \| Interest rate swaps
Derivative [Line Items]
Notional Amount	862,120	893,702
Asset Derivative
Gross derivatives	4,494	2,118
Liability Derivative
Gross derivatives	14,135	27,288
Commercial Customer Counterparty \| Not Designated as Hedging Instrument \| Interest rate caps and corridors
Derivative [Line Items]
Notional Amount	127,870	285,370
Asset Derivative
Gross derivatives	0	0
Liability Derivative
Gross derivatives	$ 190	$ 1,344

LHI and ACL - Balance Sheet Summary (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023
Loans and Allowance for Credit Losses
Loans	$ 9,667,442	$ 9,593,125
Deferred loan fees, net	(8,217)	(8,785)
ACL	(117,162)	(109,816)	$ (91,052)	$ (113,431)	$ (109,831)	$ (102,150)
Total LHI, net	9,542,063	9,474,524
Contractual principal balance	4,330	5,334
Discount on retained loans from sale	8,806	7,629
Real Estate \| Construction and land
Loans and Allowance for Credit Losses
Loans	1,436,540	1,734,254
ACL	(19,370)	(21,032)	(13,120)	(20,894)	(19,449)	(18,145)
Real Estate \| Farmland
Loans and Allowance for Credit Losses
Loans	32,254	31,114
ACL	(98)	(101)	(127)	(99)	(191)	(170)
Real Estate \| Residential Real Estate
Loans and Allowance for Credit Losses
Discount on retained loans from sale	2,553	3,231
Purchase of real estate loans			223,924
Receivable	156,918
Real Estate \| Residential Real Estate \| 1 - 4 family residential
Loans and Allowance for Credit Losses
Loans	944,755	937,119
ACL	(9,539)	(9,539)	(9,533)	(9,181)	(9,359)	(9,209)
Real Estate \| Residential Real Estate \| Multi-family residential
Loans and Allowance for Credit Losses
Loans	738,090	605,817
ACL	(5,622)	(4,882)	(2,607)	(5,754)	(4,840)	(4,707)
Real Estate \| Commercial Real Estate \| OOCRE
Loans and Allowance for Credit Losses
Loans	807,223	794,088
ACL	(16,907)	(10,252)	(8,707)	(13,100)	(7,719)	(7,519)
Real Estate \| Commercial Real Estate \| NOOCRE
Loans and Allowance for Credit Losses
Loans	2,338,094	2,350,725
ACL	(40,532)	(27,729)	(26,704)	(33,363)	(29,819)	(27,875)
Commercial
Loans and Allowance for Credit Losses
Loans	2,728,544	2,752,063
ACL	(23,878)	(35,886)	(30,142)	(29,561)	(37,639)	(34,197)
MW
Loans and Allowance for Credit Losses
Loans	630,650	377,796
Consumer
Loans and Allowance for Credit Losses
Loans	11,292	10,149
ACL	$ (135)	$ (135)	$ (112)	$ (204)	$ (350)	$ (328)

Share Transactions - Additional Information (Details) shares in Thousands	Mar. 26, 2024 shares
Common Stock
Subsidiary, Sale of Stock [Line Items]
Share repurchase program, number of shares authorized (in shares)	50,000

Operations and Summary of Significant Accounting Policies - Additional Information (Details) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2023 shares	Sep. 30, 2024 branch shares	Sep. 30, 2023 shares
Segment Reporting Information [Line Items]
Excluded from diluted EPS weighted average shares (in shares)	498	1,339	948	1,314
Restricted Stock Units
Segment Reporting Information [Line Items]
Excluded from diluted EPS weighted average shares (in shares)	136	671	338	645
Employee Stock Options
Segment Reporting Information [Line Items]
Excluded from diluted EPS weighted average shares (in shares)	362	668	610	669
Dallas-Fort Worth
Segment Reporting Information [Line Items]
Number of branches (in branches) \| branch			19
Houston
Segment Reporting Information [Line Items]
Number of branches (in branches) \| branch			12

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and due from banks	$ 54,165	$ 58,914
Interest bearing deposits in other banks	1,046,625	570,149
Total cash and cash equivalents	1,100,790	629,063
Debt securities AFS, at fair value	1,243,246	1,076,639
Debt securities HTM (fair value of $161,271 and $160,021, at September 30, 2024 and December 31, 2023, respectively)	180,364	180,403
Equity securities	22,377	21,521
Investment in unconsolidated subsidiaries	1,018	1,018
FHLB Stock and FRB Stock	47,862	53,699
Total investments	1,494,867	1,333,280
LHFS	48,496	79,072
LHI, MW	630,650	377,796
LHI, excluding MW	9,028,575	9,206,544
Less: ACL	(117,162)	(109,816)
Total LHI, net	9,542,063	9,474,524
BOLI	84,776	84,833
Premises and equipment, net	114,202	105,727
OREO	9,034	0
Intangible assets, net of accumulated amortization	32,825	41,753
Goodwill	404,452	404,452
Other assets	211,471	241,633
Total assets	13,042,976	12,394,337
Deposits:
Noninterest-bearing deposits	2,643,894	2,218,036
Interest-bearing transaction and savings deposits	4,204,708	4,348,385
Certificates and other time deposits	3,625,920	3,191,737
Correspondent money market deposits	561,489	580,037
Total deposits	11,036,011	10,338,195
Accounts payable and other liabilities	168,415	195,036
Advances from FHLB	0	100,000
Subordinated debentures and subordinated notes	230,536	229,783
Total liabilities	11,434,962	10,863,014
Stockholders’ equity:
Common stock, $0.01 par value: Authorized shares - 75,000,000 Issued shares - 61,261,938 and 60,976,462 at September 30, 2024 and December 31, 2023, respectively	613	610
APIC	1,324,929	1,317,516
Retained earnings	493,921	444,242
AOCI	(40,330)	(63,463)
Treasury stock, 6,815,764 and 6,638,094 shares, at cost, at September 30, 2024 and December 31, 2023, respectively	(171,119)	(167,582)
Total stockholders’ equity	1,608,014	1,531,323
Total liabilities and stockholders’ equity	$ 13,042,976	$ 12,394,337

Securities - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available For Sale Amortized Cost
Due in one year or less	$ 0	$ 2,018
Due from one year to five years	73,247	46,645
Due from five years to ten years	181,966	188,526
Due after ten years	30,224	54,094
Total investment securities available for sale, single maturity date	285,437	291,283
Amortized Cost	1,297,659	1,161,178
Available For Sale Fair value
Due in one year or less	0	1,906
Due from one year to five years	72,887	46,682
Due from five years to ten years	165,765	163,397
Due after ten years	24,407	47,616
Total investment securities available for sale	263,059	259,601
Fair value	1,243,246	1,076,639
Held-to-Maturity Amortized Cost
Due in one year or less	3,939	0
Due from one year to five years	894	4,445
Due from five years to ten years	19,512	12,806
Due after ten years	91,628	94,953
Total investment securities held to maturity, single maturity date	115,973	112,204
Amortized Cost	180,364	180,403
Held-to-Maturity Fair Value
Due in one year or less	3,939	0
Due from one year to five years	868	4,448
Due from five years to ten years	19,153	12,628
Due after ten years	81,931	85,350
Total investment securities held to maturity	105,891	102,426
Fair value	161,271	160,021
MBS and CMO
Available For Sale Amortized Cost
Amortized cost	830,762	757,907
Amortized Cost	231,561	194,486
Available For Sale Fair value
Fair value	799,280	706,507
Fair value	226,998	185,451
Held-to-Maturity Amortized Cost
Amortized cost	64,391	68,199
Amortized Cost	31,277	33,716
Held-to-Maturity Fair Value
Fair value	55,380	57,595
Asset-backed securities
Available For Sale Amortized Cost
Amortized cost	113,882	47,738
Amortized Cost	113,882	47,738
Available For Sale Fair value
Fair value	113,467	46,653
Fair value	113,467	46,653
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	67,578	64,250
Amortized Cost	67,578	64,250
Available For Sale Fair value
Fair value	67,440	63,878
Fair value	67,440	63,878
Held-to-Maturity Amortized Cost
Amortized cost	0	0
Held-to-Maturity Fair Value
Fair value	$ 0	$ 0

Securities - Additional Information (Details)		3 Months Ended		9 Months Ended
Securities - Additional Information (Details)	Jan. 01, 2022 USD ($) Security	Sep. 30, 2024 USD ($) investment	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Security investment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) investment
Investments, Debt and Equity Securities [Abstract]
Equity securities		$ 10,106,000		$ 10,106,000		$ 9,897,000
Realized gain (loss) on equity securities		0	$ 0	0	$ 0
Equity securities without a readily determinable fair value		48,582,000		$ 48,582,000		11,624,000
Number of AFS positions elected for transfer \| Security	25			0
Aggregate fair value of AFS transferred	$ 117,001,000
Net unrealized holding gain		$ 2,599,000		$ 2,599,000		$ 3,122,000
Number of investment positions in an unrealized loss position \| investment		122		122		142

Stock-Based Awards - Veritex Green 2014 Plan - Options (Details) - Veritex (Green) 2014 Plan - Non-Performance Based Stock Options	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)
Shares Underlying Options
Outstanding at beginning of period (in shares) \| shares	124,499,000	155,212,000
Cancelled (in shares) \| shares		(9,717,000)
Exercised (in shares) \| shares	(23,563,000)	(13,266,000)
Outstanding at the end of period (in shares) \| shares	100,936,000	132,229,000
Options exercisable at end of period (in shares) \| shares	100,936,000	132,229,000
Weighted Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 19.78	$ 19.83
Cancelled (in dollars per share)		21.38
Exercised (in dollars per share)	16.46	22.74
Outstanding at the end of period (in dollars per share)	20.56	21.89
Options exercisable at end of period (in dollars per share)	$ 20.56	$ 21.89
Weighted Average Contractual Term
Outstanding (in years)	3 years 6 months 18 days	3 years 10 months 28 days
Exercisable (in years)	3 years 6 months 18 days	3 years 10 months 28 days
Aggregate Intrinsic Value
Outstanding \| $	$ 669,145,000
Exercisable \| $	$ 669,145,000
Weighted average fair value of options granted during the period (in dollars per share)	$ 0
Unrecognized compensation expense \| $	$ 0	$ 0	$ 0

LHI and ACL - Allowance for Credit Loss Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Analysis of allowance for loan losses
Beginning balance	$ 113,431	$ 102,150	$ 109,816	$ 91,052	$ 91,052
Credit (benefit) loss expense	4,000	8,627	19,750	33,012
Charge-offs	(2,313)	(2,353)	(15,572)	(15,429)	(25,366)
Recoveries	2,044	522	3,168	1,196
Ending balance	117,162	109,831	117,162	109,831	109,816
Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	3,866	8,730	23,965	32,947
PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	134	782	(4,215)	65
Real Estate \| Construction and land
Analysis of allowance for loan losses
Beginning balance	20,894	18,145	21,032	13,120	13,120
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0
Ending balance	19,370	19,449	19,370	19,449	21,032
Real Estate \| Construction and land \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(1,524)	1,304	(1,662)	6,375
Real Estate \| Construction and land \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	0	0	0	(46)
Real Estate \| Farmland
Analysis of allowance for loan losses
Beginning balance	99	170	101	127	127
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0
Ending balance	98	191	98	191	101
Real Estate \| Farmland \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(1)	21	(3)	64
Real Estate \| Farmland \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	0	0	0	0
Real Estate \| Residential Real Estate \| 1 - 4 family residential
Analysis of allowance for loan losses
Beginning balance	9,181	9,209	9,539	9,533	9,533
Charge-offs	0	0	(31)	0	(21)
Recoveries	3	0	4	2
Ending balance	9,539	9,359	9,539	9,359	9,539
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	356	150	24	(169)
Real Estate \| Residential Real Estate \| 1 - 4 family residential \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(1)	0	3	(7)
Real Estate \| Residential Real Estate \| Multi-family residential
Analysis of allowance for loan losses
Beginning balance	5,754	4,707	4,882	2,607	2,607
Charge-offs	0	0	(198)	0	(192)
Recoveries	0	0	0	0
Ending balance	5,622	4,840	5,622	4,840	4,882
Real Estate \| Residential Real Estate \| Multi-family residential \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(132)	133	938	2,233
Real Estate \| Residential Real Estate \| Multi-family residential \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	0	0	0	0
Real Estate \| Commercial Real Estate \| OOCRE
Analysis of allowance for loan losses
Beginning balance	13,100	7,519	10,252	8,707	8,707
Charge-offs	0	(375)	(120)	(491)	(855)
Recoveries	0	0	120	0
Ending balance	16,907	7,719	16,907	7,719	10,252
Real Estate \| Commercial Real Estate \| OOCRE \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	3,671	581	6,810	(467)
Real Estate \| Commercial Real Estate \| OOCRE \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	136	(6)	(155)	(30)
Real Estate \| Commercial Real Estate \| NOOCRE
Analysis of allowance for loan losses
Beginning balance	33,363	27,875	27,729	26,704	26,704
Charge-offs	0	0	(6,262)	(8,215)	(13,649)
Recoveries	0	200	0	350
Ending balance	40,532	29,819	40,532	29,819	27,729
Real Estate \| Commercial Real Estate \| NOOCRE \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	7,169	947	23,017	10,362
Real Estate \| Commercial Real Estate \| NOOCRE \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	0	797	(3,952)	618
Commercial
Analysis of allowance for loan losses
Beginning balance	29,561	34,197	35,886	30,142	30,142
Charge-offs	(2,259)	(1,929)	(8,806)	(6,520)	(10,413)
Recoveries	1,962	308	2,419	778
Ending balance	23,878	37,639	23,878	37,639	35,886
Commercial \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(5,385)	5,072	(5,510)	13,709
Commercial \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(1)	(9)	(111)	(470)
MW
Analysis of allowance for loan losses
Beginning balance	1,275	0	260	0	0
Charge-offs	0	0	0	0
Recoveries	46	0	46	0
Ending balance	1,081	465	1,081	465	260
MW \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(240)	465	775	465
MW \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	0	0	0	0
Consumer
Analysis of allowance for loan losses
Beginning balance	204	328	135	112	112
Charge-offs	(54)	(49)	(155)	(203)	(236)
Recoveries	33	14	579	66
Ending balance	135	350	135	350	$ 135
Consumer \| Non-PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	(48)	57	(424)	375
Consumer \| PCD Loans
Analysis of allowance for loan losses
Credit (benefit) loss expense	$ 0	$ 0	$ 0	$ 0

LHI and ACL

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

LHI and ACL

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


	September 30, 2024		December 31, 2023
LHI, carried at amortized cost:
Real estate:
Construction and land	$	1,436,540	$	1,734,254
Farmland	32,254		31,114
1 - 4 family residential	944,755		937,119
Multi-family residential	738,090		605,817
OOCRE	807,223		794,088
NOOCRE	2,338,094		2,350,725
Commercial	2,728,544		2,752,063
MW	630,650		377,796
Consumer	11,292		10,149
	$	9,667,442	$	9,593,125

Deferred loan fees, net	(8,217)		(8,785)
ACL	(117,162)		(109,816)
Total LHI, net	$	9,542,063	$	9,474,524

Included in the total LHI, net, as of September 30, 2024 and December 31, 2023 was an accretable discount related to purchased performing and PCD loans acquired in the approximate amounts of $4,330 and $5,334, respectively. The discount is being accreted into income on a level-yield basis over the life of the loans. In addition, included in the net loan portfolio as of September 30, 2024 and December 31, 2023 is a discount on retained loans from sale of originated SBA and USDA loans of $8,806 and $7,629, 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 $156,918 as of September 30, 2024. The remaining net purchase discount of $2,553 and $3,231 related to these 1-4 family residential loans purchased is included in the total LHI, net, as of September 30, 2024 and December 31, 2023, respectively. No additional pooled residential real estate loans have been repurchased since 2022.

ACL

The Company’s estimate of the ACL reflects losses expected over the remaining contractual life of the assets. The activity in the ACL related to LHI is as follows:


	Three Months Ended September 30, 2024
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	20,894	$	99	$	9,181	$	5,754	$	13,100	$	33,363	$	29,561	$	1,275	$	204	$	113,431
Credit (benefit) loss expense non-PCD loans	(1,524)		(1)		356		(132)		3,671		7,169		(5,385)		(240)		(48)		3,866
Credit (benefit) loss expense PCD loans	—		—		(1)		—		136		—		(1)		—		—		134
Charge-offs	—		—		—		—		—		—		(2,259)		—		(54)		(2,313)
Recoveries	—		—		3		—		—		—		1,962		46		33		2,044
Ending Balance	$	19,370	$	98	$	9,539	$	5,622	$	16,907	$	40,532	$	23,878	$	1,081	$	135	$	117,162


	Three Months Ended September 30, 2023
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	18,145	$	170	$	9,209	$	4,707	$	7,519	$	27,875	$	34,197	$	—	$	328	$	102,150
Credit loss (benefit) expense non-PCD loans	1,304		21		150		133		581		947		5,072		465		57		8,730
Credit (benefit) loss expense PCD loans	—		—		—		—		(6)		797		(9)		—		—		782
Charge-offs	—		—		—		—		(375)		—		(1,929)		—		(49)		(2,353)
Recoveries	—		—		—		—		—		200		308		—		14		522
Ending Balance	$	19,449	$	191	$	9,359	$	4,840	$	7,719	$	29,819	$	37,639	$	465	$	350	$	109,831


	Nine Months Ended September 30, 2024
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	21,032	$	101	$	9,539	$	4,882	$	10,252	$	27,729	$	35,886	$	260	$	135	$	109,816
Credit (benefit) loss expense non-PCD loans	(1,662)		(3)		24		938		6,810		23,017		(5,510)		775		(424)		23,965
Credit loss (benefit) expense PCD loans	—		—		3		—		(155)		(3,952)		(111)		—		—		(4,215)
Charge-offs	—		—		(31)		(198)		(120)		(6,262)		(8,806)		—		(155)		(15,572)
Recoveries	—		—		4		—		120		—		2,419		46		579		3,168
Ending Balance	$	19,370	$	98	$	9,539	$	5,622	$	16,907	$	40,532	$	23,878	$	1,081	$	135	$	117,162


	Nine Months Ended September 30, 2023
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	13,120	$	127	$	9,533	$	2,607	$	8,707	$	26,704	$	30,142	$	—	$	112	$	91,052
Credit loss (benefit) expense non-PCD loans	6,375		64		(169)		2,233		(467)		10,362		13,709		465		375		32,947
Credit loss (benefit) expense PCD loans	(46)		—		(7)		—		(30)		618		(470)		—		—		65
Charge-offs	—		—		—		—		(491)		(8,215)		(6,520)		—		(203)		(15,429)
Recoveries	—		—		2		—		—		350		778		—		66		1,196
Ending Balance	$	19,449	$	191	$	9,359	$	4,840	$	7,719	$	29,819	$	37,639	$	465	$	350	$	109,831

The majority of the Company's loan portfolio consists of loans to businesses and individuals in the DFW 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.

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:


	September 30, 2024				December 31, 2023
	Real Property		ACL Allocation		Real Property		ACL Allocation





OOCRE	$	—	$	—	$	3,059	$	47
NOOCRE	9,449		—		21,169		—
Commercial	972		197		20,711		3,339


Total	$	10,421	$	197	$	44,939	$	3,386

Nonaccrual and Past Due Loans

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. Loans are placed on nonaccrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become 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 interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Nonaccrual loans aggregated by class of loans, as of September 30, 2024 and December 31, 2023, were as follows:


	September 30, 2024				December 31, 2023
	Nonaccrual		Nonaccrual With No ACL			Nonaccrual		Nonaccrual With No ACL

Construction and land	$	6,578	$	6,578		$	6,793	$	6,793

1 - 4 family residential	1,995		1,995			1,965		1,965

OOCRE	5,653		5,653			9,719		9,493
NOOCRE	13,970		13,970			33,479		33,479
Commercial	27,191		9,646			40,868		10,610

Consumer	17		17			24		24
Total	$	55,404	$	37,859		$	92,848	$	62,364

There were $70 and $13,715 of PCD loans that are not accounted for on a pooled basis included in nonaccrual loans at September 30, 2024 and December 31, 2023, respectively.

During the three months ended September 30, 2024 and 2023, interest income not recognized on nonaccrual loans was $638 and $1,921, respectively. During the nine months ended September 30, 2024 and 2023, interest income not recognized on non-accrual loans was $2,182 and $4,689, respectively.

An age analysis of past due loans, aggregated by class of loans and including past due nonaccrual loans, as of September 30, 2024 and December 31, 2023, is as follows:


	September 30, 2024
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due		Total Current		Total Loans		Total 90 Days Past Due and Still Accruing
Real estate:
Construction and land	$	—	$	—	$	6,578	$	6,578	$	1,429,962	$	1,436,540	$	—
Farmland	—		—		—		—		32,254		32,254		—
1 - 4 family residential	790		1,290		3,862		5,942		938,813		944,755		2,137
Multi-family residential	—		566		—		566		737,524		738,090		—
OOCRE	905		776		6,376		8,057		799,166		807,223		723
NOOCRE	14,983		2,595		11,886		29,464		2,308,630		2,338,094		—
Commercial	632		3,295		10,655		14,582		2,713,962		2,728,544		—
MW	—		—		—		—		630,650		630,650		—
Consumer	84		—		—		84		11,208		11,292		—
Total	$	17,394	$	8,522	$	39,357	$	65,273	$	9,602,169	$	9,667,442	$	2,860


	December 31, 2023
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due		Total Current		Total Loans		Total 90 Days Past Due and Still Accruing
Real estate:
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		926,534		937,119		1,726
Multi-family residential	15,095		—		—		15,095		590,722		605,817		—
OOCRE	916		114		10,185		11,215		782,873		794,088		466
NOOCRE	3,182		642		20,547		24,371		2,326,354		2,350,725		783
Commercial	3,485		1,394		9,122		14,001		2,738,062		2,752,063		—
MW	—		—		—		—		377,796		377,796		—
Consumer	76		—		—		76		10,073		10,149		—
Total	$	56,492	$	4,685	$	50,338	$	111,515	$	9,481,610	$	9,593,125	$	2,975

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 notes 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

The Company adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures, 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 ACL (due to the measurement methodologies used to estimate the allowance), a change to the ACL is generally not recorded upon modification.

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 nine months ended September 30, 2024:

Loan Modifications Made to Borrowers Experiencing Financial Difficulty

Interest Rate Reduction

Financial Impact

Amortized Cost Basis

% of Loan Class

NOOCRE

28,331

1.2

Interest rate reduced longer than 3 months


	Term Extension
	Amortized Cost Basis		% of Loan Class		Financial Impact
Construction and land	$	12,206	0.8	%	Principal and interest payments deferred longer than three months
NOOCRE	3,406		0.1		Principal and interest payments deferred longer than three months
Commercial	872		—		Principal and interest payments deferred longer than three months
	$	16,484


	Combination - Interest Rate Reduction and Term Extension
	Amortized Cost Basis		% of Loan Class		Financial Impact

NOOCRE	$	56,635	2.4	%	Principal payments deferred and interest rate reduced longer than three months
Commercial	4,631		0.2		Principal payments deferred and interest rate reduced longer than three months
	$	61,266

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
Construction and land	$	12,206	$	—	$	—	$	—

NOOCRE	86,965		—		—		1,407
Commercial	18,375		121		—		1,921
Total	$	117,546	$	121	$	—	$	3,328

The Company has not committed to lend additional amounts to customers with outstanding loans classified as Troubled Loan Modifications as of September 30, 2024 or December 31, 2023.

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. PCA 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 non-accrual.

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 purchased-credit impaired 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.

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 as of September 30, 2024 and December 31, 2023 is as follows:


	Term Loans Amortized Cost Basis by Origination Year1
	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of September 30, 2024
Construction and land:
Pass	$	87,067	$	89,894	$	791,290	$	169,396	$	25,816	$	5,698	$	216,710	$	—	$	1,385,871
Special mention	—		12,206		7,016		24,869		—		—		—		—		44,091
Substandard	—		—		6,547		—		31		—		—		—		6,578

Total construction and land	$	87,067	$	102,100	$	804,853	$	194,265	$	25,847	$	5,698	$	216,710	$	—	$	1,436,540
Construction and land gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Farmland:
Pass	$	2,704	$	2,492	$	2,350	$	—	$	17,591	$	4,474	$	2,643	$	—	$	32,254



Total farmland	$	2,704	$	2,492	$	2,350	$	—	$	17,591	$	4,474	$	2,643	$	—	$	32,254
Farmland gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


1 - 4 family residential:
Pass	$	64,790	$	73,948	$	193,889	$	352,162	$	87,010	$	125,022	$	37,991	$	601	$	935,413
Special mention	—		3,704		—		—		—		1,576		103		—		5,383
Substandard	—		—		135		841		50		1,358		517		—		2,901
PCD	—		—		—		—		—		1,058		—		—		1,058
Total 1 - 4 family residential	$	64,790	$	77,652	$	194,024	$	353,003	$	87,060	$	129,014	$	38,611	$	601	$	944,755
1-4 family residential gross charge-offs	$	—	$	—	$	31	$	—	$	—	$	—	$	—	$	—	$	31

Multi-family residential:
Pass	$	25,113	$	11,699	$	123,366	$	360,601	$	199,468	$	17,277	$	—	$	—	$	737,524

Substandard	—		—		566		—		—		—		—		—		566

Total multi-family residential	$	25,113	$	11,699	$	123,932	$	360,601	$	199,468	$	17,277	$	—	$	—	$	738,090
Multi-family residential gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	198	$	—	$	—	$	198

OOCRE:
Pass	$	50,199	$	160,135	$	181,759	$	96,974	$	77,140	$	197,946	$	5,022	$	—	$	769,175
Special mention	—		—		465		1,151		953		6,184		—		—		8,753
Substandard	—		5,375		—		5,418		3,356		5,120		—		—		19,269
PCD	—		—		—		—		—		10,026		—		—		10,026
Total OOCRE	$	50,199	$	165,510	$	182,224	$	103,543	$	81,449	$	219,276	$	5,022	$	—	$	807,223


OOCRE gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	120	$	—	$	—	$	120

NOOCRE:
Pass	$	172,655	$	64,694	$	639,733	$	505,463	$	167,724	$	502,665	$	35,042	$	423	$	2,088,399
Special mention	—		—		8,960		4,267		39,296		78,276		—		—		130,799
Substandard	—		—		59,068		3,096		15,286		41,020		—		—		118,470
PCD	—		—		—		—		—		426		—		—		426
Total NOOCRE	$	172,655	$	64,694	$	707,761	$	512,826	$	222,306	$	622,387	$	35,042	$	423	$	2,338,094
NOOCRE gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	6,262	$	—	$	—	$	6,262

Commercial:
Pass	$	140,482	$	254,307	$	296,002	$	81,845	$	29,061	$	66,609	$	1,710,690	$	1,246	$	2,580,242
Special mention	8,592		656		24,121		337		5		499		60,008		209		94,427
Substandard	1,147		4,914		14,919		2,187		530		14,599		15,239		—		53,535
PCD	—		—		—		—		—		340		—		—		340
Total commercial	$	150,221	$	259,877	$	335,042	$	84,369	$	29,596	$	82,047	$	1,785,937	$	1,455	$	2,728,544
Commercial gross charge-offs	$	—	$	217	$	1,192	$	1,532	$	—	$	5,865	$	—	$	—	$	8,806

MW:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	630,650	$	—	$	630,650

Substandard	—		—		—		—		—		—		—		—		—

Total MW	$	—	$	—	$	—	$	—	$	—	$	—	$	630,650	$	—	$	630,650
MW gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer:
Pass	$	4,215	$	2,357	$	704	$	213	$	433	$	1,388	$	1,836	$	—	$	11,146
Special mention	—		—		—		—		—		75		—		—		75
Substandard	—		—		—		—		4		58		—		—		62
PCD	—		—		—		—		—		9		—		—		9
Total consumer	$	4,215	$	2,357	$	704	$	213	$	437	$	1,530	$	1,836	$	—	$	11,292
Consumer gross charge-offs	$	24	$	—	$	—	$	—	$	—	$	131	$	—	$	—	$	155

Total Pass	$	547,225	$	659,526	$	2,229,093	$	1,566,654	$	604,243	$	921,079	$	2,640,584	$	2,270	$	9,170,674
Total Special Mention	8,592		16,566		40,562		30,624		40,254		86,610		60,111		209		283,528
Total Substandard	1,147		10,289		81,235		11,542		19,257		62,155		15,756		—		201,381
Total PCD	—		—		—		—		—		11,859		—		—		11,859
Total	$	556,964	$	686,381	$	2,350,890	$	1,608,820	$	663,754	$	1,081,703	$	2,716,451	$	2,479	$	9,667,442
Current period gross charge-offs	$	24	$	217	$	1,223	$	1,532	$	—	$	12,576	$	—	$	—	$	15,572

1 Term loans amortized cost basis by origination year excludes $8,217 of deferred loan fees, net.


	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, 2023
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


Consumer 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
Current year gross charge-offs	$	—	$	2,187	$	2	$	2,941	$	1,301	$	18,935	$	—	$	—	$	25,366

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

Servicing Assets

The Company was servicing loans of approximately $585,887 and $577,802 as of September 30, 2024 and 2023, respectively. A summary of the changes in the related servicing assets are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Balance at beginning of period	$	12,198	$	14,923	$	13,258	$	14,880

Increase from loan sales	338		90		1,245		1,863
Servicing asset impairment, net recoveries	122		(455)		401		407
Amortization charged as a reduction to income	(1,014)		(1,197)		(3,260)		(3,789)
Balance at end of period	$	11,644	$	13,361	$	11,644	$	13,361

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 September 30, 2024 and 2023 there was a valuation allowance of $1,132 and $2,043, 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 September 30, 2024 and December 31, 2023.

The following table reflects principal sold and related gain for SBA and USDA LHI. The gain on sale of these loans is recorded in government guaranteed loan income, net in the Company’s consolidated statements of income.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
SBA LHI principal sold	$	10,787	$	2,896	$	25,762	$	9,826
Gain on sale of SBA LHI	920		243		2,264		822
USDA LHI principal sold	—		—		2,850		62,640
Gain on sale of USDA LHI	—		—		52		9,663

LHFS

The following table reflects LHFS.


	September 30, 2024		December 31, 2023
SBA/USDA construction and land	$	22,066	$	41,492
1 - 4 family residential	1,098		788
SBA OOCRE	7,567		16,758
NOOCRE	—		10,500
SBA commercial	17,765		9,534
Total LHFS	$	48,496	$	79,072

LHI and ACL - Servicing Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
LHI and ACL - Servicing Assets (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Servicing Asset at Amortized Cost [Line Items]
Servicing asset	$ 585,887,000	$ 577,802,000	$ 585,887,000	$ 577,802,000
Summary of changes in related servicing assets
Balance at beginning of period	12,198,000	14,923,000	13,258,000	14,880,000
Increase from loan sales	338,000	90,000	1,245,000	1,863,000
Servicing asset impairment, net recoveries	122,000	(455,000)	401,000	407,000
Amortization charged as a reduction to income	(1,014,000)	(1,197,000)	(3,260,000)	(3,789,000)
Balance at end of period	11,644,000	13,361,000	11,644,000	13,361,000
Valuation allowance recorded	1,132,000	2,043,000	1,132,000	2,043,000
Interest receivable	$ 0		$ 0		$ 0
Investment, Type [Extensible Enumeration]	Interest-Only-Strip [Member]		Interest-Only-Strip [Member]		Interest-Only-Strip [Member]
Proceeds from sale of loans			$ 50,243,000	37,138,000
Gain on sale of loans			84,000	67,000
SBA LHI
Summary of changes in related servicing assets
Proceeds from sale of loans	$ 10,787,000	2,896,000	25,762,000	9,826,000
Gain on sale of loans	920,000	243,000	2,264,000	822,000
USDA LHI
Summary of changes in related servicing assets
Proceeds from sale of loans	0	0	2,850,000	62,640,000
Gain on sale of loans	$ 0	$ 0	$ 52,000	$ 9,663,000

Derivative Financial Instruments - AOCI Reclassification (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Loss) gain recognized in other comprehensive income on derivative	$ 10,541	$ (11,916)	$ (182)	$ (19,872)
Gain (loss) reclassified from AOCI into income	(1,027)	(1,120)	(2,751)	(2,023)
Interest rate swap on borrowing advances \| Interest Expense \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Loss) gain recognized in other comprehensive income on derivative	(1,106)	(1,105)	(3,293)	(3,281)
Gain (loss) reclassified from AOCI into income	1,106	1,105	3,293	3,281
Interest rate swap on money market deposit account payments \| Interest Expense \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Loss) gain recognized in other comprehensive income on derivative	(8,007)	(1,751)	(7,993)	(4,358)
Gain (loss) reclassified from AOCI into income	3,535	3,035	10,491	8,469
Interest rate swaps, collars and floors on customer loan interest payments \| Interest Income \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Loss) gain recognized in other comprehensive income on derivative	19,654	(9,060)	11,104	(12,233)
Gain (loss) reclassified from AOCI into income	(5,668)	(5,260)	(16,535)	(13,773)
Interest rate swaps, caps and collars \| Non-hedging Derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net gain recognized in other noninterest income	$ 271	$ 180	$ 1,046	$ 1,375

LHI and ACL (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Summary of Loans in the Accompanying Consolidated Balance Sheets

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


	September 30, 2024		December 31, 2023
LHI, carried at amortized cost:
Real estate:
Construction and land	$	1,436,540	$	1,734,254
Farmland	32,254		31,114
1 - 4 family residential	944,755		937,119
Multi-family residential	738,090		605,817
OOCRE	807,223		794,088
NOOCRE	2,338,094		2,350,725
Commercial	2,728,544		2,752,063
MW	630,650		377,796
Consumer	11,292		10,149
	$	9,667,442	$	9,593,125

Deferred loan fees, net	(8,217)		(8,785)
ACL	(117,162)		(109,816)
Total LHI, net	$	9,542,063	$	9,474,524

Schedule of Activity in Allowance for Credit Loss

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


	Three Months Ended September 30, 2024
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	20,894	$	99	$	9,181	$	5,754	$	13,100	$	33,363	$	29,561	$	1,275	$	204	$	113,431
Credit (benefit) loss expense non-PCD loans	(1,524)		(1)		356		(132)		3,671		7,169		(5,385)		(240)		(48)		3,866
Credit (benefit) loss expense PCD loans	—		—		(1)		—		136		—		(1)		—		—		134
Charge-offs	—		—		—		—		—		—		(2,259)		—		(54)		(2,313)
Recoveries	—		—		3		—		—		—		1,962		46		33		2,044
Ending Balance	$	19,370	$	98	$	9,539	$	5,622	$	16,907	$	40,532	$	23,878	$	1,081	$	135	$	117,162


	Three Months Ended September 30, 2023
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	18,145	$	170	$	9,209	$	4,707	$	7,519	$	27,875	$	34,197	$	—	$	328	$	102,150
Credit loss (benefit) expense non-PCD loans	1,304		21		150		133		581		947		5,072		465		57		8,730
Credit (benefit) loss expense PCD loans	—		—		—		—		(6)		797		(9)		—		—		782
Charge-offs	—		—		—		—		(375)		—		(1,929)		—		(49)		(2,353)
Recoveries	—		—		—		—		—		200		308		—		14		522
Ending Balance	$	19,449	$	191	$	9,359	$	4,840	$	7,719	$	29,819	$	37,639	$	465	$	350	$	109,831


	Nine Months Ended September 30, 2024
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	21,032	$	101	$	9,539	$	4,882	$	10,252	$	27,729	$	35,886	$	260	$	135	$	109,816
Credit (benefit) loss expense non-PCD loans	(1,662)		(3)		24		938		6,810		23,017		(5,510)		775		(424)		23,965
Credit loss (benefit) expense PCD loans	—		—		3		—		(155)		(3,952)		(111)		—		—		(4,215)
Charge-offs	—		—		(31)		(198)		(120)		(6,262)		(8,806)		—		(155)		(15,572)
Recoveries	—		—		4		—		120		—		2,419		46		579		3,168
Ending Balance	$	19,370	$	98	$	9,539	$	5,622	$	16,907	$	40,532	$	23,878	$	1,081	$	135	$	117,162


	Nine Months Ended September 30, 2023
	Construction and Land		Farmland		Residential		Multifamily		OOCRE		NOOCRE		Commercial		MW		Consumer		Total
Balance at beginning of the period	$	13,120	$	127	$	9,533	$	2,607	$	8,707	$	26,704	$	30,142	$	—	$	112	$	91,052
Credit loss (benefit) expense non-PCD loans	6,375		64		(169)		2,233		(467)		10,362		13,709		465		375		32,947
Credit loss (benefit) expense PCD loans	(46)		—		(7)		—		(30)		618		(470)		—		—		65
Charge-offs	—		—		—		—		(491)		(8,215)		(6,520)		—		(203)		(15,429)
Recoveries	—		—		2		—		—		350		778		—		66		1,196
Ending Balance	$	19,449	$	191	$	9,359	$	4,840	$	7,719	$	29,819	$	37,639	$	465	$	350	$	109,831

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:


	September 30, 2024				December 31, 2023
	Real Property		ACL Allocation		Real Property		ACL Allocation





OOCRE	$	—	$	—	$	3,059	$	47
NOOCRE	9,449		—		21,169		—
Commercial	972		197		20,711		3,339


Total	$	10,421	$	197	$	44,939	$	3,386

Schedule of Non-Accrual Loans

Nonaccrual loans aggregated by class of loans, as of September 30, 2024 and December 31, 2023, were as follows:


	September 30, 2024				December 31, 2023
	Nonaccrual		Nonaccrual With No ACL			Nonaccrual		Nonaccrual With No ACL

Construction and land	$	6,578	$	6,578		$	6,793	$	6,793

1 - 4 family residential	1,995		1,995			1,965		1,965

OOCRE	5,653		5,653			9,719		9,493
NOOCRE	13,970		13,970			33,479		33,479
Commercial	27,191		9,646			40,868		10,610

Consumer	17		17			24		24
Total	$	55,404	$	37,859		$	92,848	$	62,364

Schedule of Age Analysis of Past Due Loans, Aggregated by Class of Loans

An age analysis of past due loans, aggregated by class of loans and including past due nonaccrual loans, as of September 30, 2024 and December 31, 2023, is as follows:


	September 30, 2024
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due		Total Current		Total Loans		Total 90 Days Past Due and Still Accruing
Real estate:
Construction and land	$	—	$	—	$	6,578	$	6,578	$	1,429,962	$	1,436,540	$	—
Farmland	—		—		—		—		32,254		32,254		—
1 - 4 family residential	790		1,290		3,862		5,942		938,813		944,755		2,137
Multi-family residential	—		566		—		566		737,524		738,090		—
OOCRE	905		776		6,376		8,057		799,166		807,223		723
NOOCRE	14,983		2,595		11,886		29,464		2,308,630		2,338,094		—
Commercial	632		3,295		10,655		14,582		2,713,962		2,728,544		—
MW	—		—		—		—		630,650		630,650		—
Consumer	84		—		—		84		11,208		11,292		—
Total	$	17,394	$	8,522	$	39,357	$	65,273	$	9,602,169	$	9,667,442	$	2,860


	December 31, 2023
	30 to 59 Days		60 to 89 Days		90 Days or Greater		Total Past Due		Total Current		Total Loans		Total 90 Days Past Due and Still Accruing
Real estate:
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		926,534		937,119		1,726
Multi-family residential	15,095		—		—		15,095		590,722		605,817		—
OOCRE	916		114		10,185		11,215		782,873		794,088		466
NOOCRE	3,182		642		20,547		24,371		2,326,354		2,350,725		783
Commercial	3,485		1,394		9,122		14,001		2,738,062		2,752,063		—
MW	—		—		—		—		377,796		377,796		—
Consumer	76		—		—		76		10,073		10,149		—
Total	$	56,492	$	4,685	$	50,338	$	111,515	$	9,481,610	$	9,593,125	$	2,975

Schedule of Loans Modified as TDRs

Loan Modifications Made to Borrowers Experiencing Financial Difficulty

Interest Rate Reduction

Financial Impact

Amortized Cost Basis

% of Loan Class

NOOCRE

28,331

1.2

Interest rate reduced longer than 3 months


	Term Extension
	Amortized Cost Basis		% of Loan Class		Financial Impact
Construction and land	$	12,206	0.8	%	Principal and interest payments deferred longer than three months
NOOCRE	3,406		0.1		Principal and interest payments deferred longer than three months
Commercial	872		—		Principal and interest payments deferred longer than three months
	$	16,484


	Combination - Interest Rate Reduction and Term Extension
	Amortized Cost Basis		% of Loan Class		Financial Impact

NOOCRE	$	56,635	2.4	%	Principal payments deferred and interest rate reduced longer than three months
Commercial	4,631		0.2		Principal payments deferred and interest rate reduced longer than three months
	$	61,266

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
Construction and land	$	12,206	$	—	$	—	$	—

NOOCRE	86,965		—		—		1,407
Commercial	18,375		121		—		1,921
Total	$	117,546	$	121	$	—	$	3,328

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

Based on the most recent analysis performed, the risk category of loans by class of loans based on year or origination as of September 30, 2024 and December 31, 2023 is as follows:


	Term Loans Amortized Cost Basis by Origination Year1
	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of September 30, 2024
Construction and land:
Pass	$	87,067	$	89,894	$	791,290	$	169,396	$	25,816	$	5,698	$	216,710	$	—	$	1,385,871
Special mention	—		12,206		7,016		24,869		—		—		—		—		44,091
Substandard	—		—		6,547		—		31		—		—		—		6,578

Total construction and land	$	87,067	$	102,100	$	804,853	$	194,265	$	25,847	$	5,698	$	216,710	$	—	$	1,436,540
Construction and land gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Farmland:
Pass	$	2,704	$	2,492	$	2,350	$	—	$	17,591	$	4,474	$	2,643	$	—	$	32,254



Total farmland	$	2,704	$	2,492	$	2,350	$	—	$	17,591	$	4,474	$	2,643	$	—	$	32,254
Farmland gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


1 - 4 family residential:
Pass	$	64,790	$	73,948	$	193,889	$	352,162	$	87,010	$	125,022	$	37,991	$	601	$	935,413
Special mention	—		3,704		—		—		—		1,576		103		—		5,383
Substandard	—		—		135		841		50		1,358		517		—		2,901
PCD	—		—		—		—		—		1,058		—		—		1,058
Total 1 - 4 family residential	$	64,790	$	77,652	$	194,024	$	353,003	$	87,060	$	129,014	$	38,611	$	601	$	944,755
1-4 family residential gross charge-offs	$	—	$	—	$	31	$	—	$	—	$	—	$	—	$	—	$	31

Multi-family residential:
Pass	$	25,113	$	11,699	$	123,366	$	360,601	$	199,468	$	17,277	$	—	$	—	$	737,524

Substandard	—		—		566		—		—		—		—		—		566

Total multi-family residential	$	25,113	$	11,699	$	123,932	$	360,601	$	199,468	$	17,277	$	—	$	—	$	738,090
Multi-family residential gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	198	$	—	$	—	$	198

OOCRE:
Pass	$	50,199	$	160,135	$	181,759	$	96,974	$	77,140	$	197,946	$	5,022	$	—	$	769,175
Special mention	—		—		465		1,151		953		6,184		—		—		8,753
Substandard	—		5,375		—		5,418		3,356		5,120		—		—		19,269
PCD	—		—		—		—		—		10,026		—		—		10,026
Total OOCRE	$	50,199	$	165,510	$	182,224	$	103,543	$	81,449	$	219,276	$	5,022	$	—	$	807,223


OOCRE gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	120	$	—	$	—	$	120

NOOCRE:
Pass	$	172,655	$	64,694	$	639,733	$	505,463	$	167,724	$	502,665	$	35,042	$	423	$	2,088,399
Special mention	—		—		8,960		4,267		39,296		78,276		—		—		130,799
Substandard	—		—		59,068		3,096		15,286		41,020		—		—		118,470
PCD	—		—		—		—		—		426		—		—		426
Total NOOCRE	$	172,655	$	64,694	$	707,761	$	512,826	$	222,306	$	622,387	$	35,042	$	423	$	2,338,094
NOOCRE gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	6,262	$	—	$	—	$	6,262

Commercial:
Pass	$	140,482	$	254,307	$	296,002	$	81,845	$	29,061	$	66,609	$	1,710,690	$	1,246	$	2,580,242
Special mention	8,592		656		24,121		337		5		499		60,008		209		94,427
Substandard	1,147		4,914		14,919		2,187		530		14,599		15,239		—		53,535
PCD	—		—		—		—		—		340		—		—		340
Total commercial	$	150,221	$	259,877	$	335,042	$	84,369	$	29,596	$	82,047	$	1,785,937	$	1,455	$	2,728,544
Commercial gross charge-offs	$	—	$	217	$	1,192	$	1,532	$	—	$	5,865	$	—	$	—	$	8,806

MW:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	630,650	$	—	$	630,650

Substandard	—		—		—		—		—		—		—		—		—

Total MW	$	—	$	—	$	—	$	—	$	—	$	—	$	630,650	$	—	$	630,650
MW gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer:
Pass	$	4,215	$	2,357	$	704	$	213	$	433	$	1,388	$	1,836	$	—	$	11,146
Special mention	—		—		—		—		—		75		—		—		75
Substandard	—		—		—		—		4		58		—		—		62
PCD	—		—		—		—		—		9		—		—		9
Total consumer	$	4,215	$	2,357	$	704	$	213	$	437	$	1,530	$	1,836	$	—	$	11,292
Consumer gross charge-offs	$	24	$	—	$	—	$	—	$	—	$	131	$	—	$	—	$	155

Total Pass	$	547,225	$	659,526	$	2,229,093	$	1,566,654	$	604,243	$	921,079	$	2,640,584	$	2,270	$	9,170,674
Total Special Mention	8,592		16,566		40,562		30,624		40,254		86,610		60,111		209		283,528
Total Substandard	1,147		10,289		81,235		11,542		19,257		62,155		15,756		—		201,381
Total PCD	—		—		—		—		—		11,859		—		—		11,859
Total	$	556,964	$	686,381	$	2,350,890	$	1,608,820	$	663,754	$	1,081,703	$	2,716,451	$	2,479	$	9,667,442
Current period gross charge-offs	$	24	$	217	$	1,223	$	1,532	$	—	$	12,576	$	—	$	—	$	15,572

1 Term loans amortized cost basis by origination year excludes $8,217 of deferred loan fees, net.


	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, 2023
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


Consumer 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
Current year gross charge-offs	$	—	$	2,187	$	2	$	2,941	$	1,301	$	18,935	$	—	$	—	$	25,366

1 Term loans amortized cost basis by origination year excludes $8,785 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:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Balance at beginning of period	$	12,198	$	14,923	$	13,258	$	14,880

Increase from loan sales	338		90		1,245		1,863
Servicing asset impairment, net recoveries	122		(455)		401		407
Amortization charged as a reduction to income	(1,014)		(1,197)		(3,260)		(3,789)
Balance at end of period	$	11,644	$	13,361	$	11,644	$	13,361

Schedule of Loans Held-for-Sale, Principal Sold


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
SBA LHI principal sold	$	10,787	$	2,896	$	25,762	$	9,826
Gain on sale of SBA LHI	920		243		2,264		822
USDA LHI principal sold	—		—		2,850		62,640
Gain on sale of USDA LHI	—		—		52		9,663

Schedule of Loans Held-for-Sale

The following table reflects LHFS.


	September 30, 2024		December 31, 2023
SBA/USDA construction and land	$	22,066	$	41,492
1 - 4 family residential	1,098		788
SBA OOCRE	7,567		16,758
NOOCRE	—		10,500
SBA commercial	17,765		9,534
Total LHFS	$	48,496	$	79,072

Securities - Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Securities - Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value	$ 356	$ (304)	$ 209	$ (335)

Securities - Carrying Amount and Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,297,659		$ 1,161,178
Gross Unrealized Gains	16,500		11,251
Gross Unrealized Losses	70,913		95,790
ACL	0	$ 0	0	$ 0	$ 885	$ 0
Fair Value	1,243,246		1,076,639
HTM
Amortized Cost	180,364		180,403
Gross Unrealized Gains	58		86
Gross Unrealized Losses	19,151		20,468
ACL	0		0
Fair Value	161,271		160,021
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	271,207		244,652
Gross Unrealized Gains	1,754		1,034
Gross Unrealized Losses	21,515		29,566
ACL	0		0
Fair Value	251,446		216,120
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,230		46,631
Gross Unrealized Gains	0		108
Gross Unrealized Losses	2,617		3,258
ACL	0		0
Fair Value	11,613		43,481
HTM
Amortized Cost	115,973		112,204
Gross Unrealized Gains	58		86
Gross Unrealized Losses	10,140		9,864
ACL	0		0
Fair Value	105,891		102,426
MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	231,561		194,486
Gross Unrealized Gains	6,101		4,430
Gross Unrealized Losses	10,664		13,465
ACL	0		0
Fair Value	226,998		185,451
HTM
Amortized Cost	31,277		33,716
Gross Unrealized Gains	0		0
Gross Unrealized Losses	5,175		6,037
ACL	0		0
Fair Value	26,102		27,679
CMO
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	599,201		563,421
Gross Unrealized Gains	7,056		4,634
Gross Unrealized Losses	33,975		46,999
ACL	0		0
Fair Value	572,282		521,056
HTM
Amortized Cost	33,114		34,483
Gross Unrealized Gains	0		0
Gross Unrealized Losses	3,836		4,567
ACL	0		0
Fair Value	29,278		29,916
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	113,882		47,738
Gross Unrealized Gains	1,477		1,045
Gross Unrealized Losses	1,892		2,130
ACL	0		0
Fair Value	113,467		46,653
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	67,578		64,250
Gross Unrealized Gains	112		0
Gross Unrealized Losses	250		372
ACL	0		0
Fair Value	$ 67,440		$ 63,878

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 82,359	$ 104,762
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets and intangibles	14,185	14,899
Net (accretion) amortization of time deposit premium, debt discount and debt issuance costs	(2,540)	722
Provision for credit losses and unfunded commitments	18,209	32,471
Accretion of loan discount	(1,663)	(2,884)
Stock-based compensation expense	9,253	9,014
Excess tax expense from stock compensation	501	259
Net (accretion) amortization of premiums on debt securities	(609)	1,925
Unrealized (gain) loss on equity securities recognized in earnings	(209)	335
Change in cash surrender value and mortality rates of BOLI	57	(371)
Loss on sales of debt securities	6,304	5,321
Change in fair value of government guaranteed loans using fair value option	1,455	(2,006)
Gain on sales of mortgage LHFS	(84)	(67)
Gain on sales of government guaranteed loans	(6,164)	(13,593)
Servicing asset recoveries, net	(401)	(407)
Originations of LHFS	(27,690)	(52,629)
Proceeds from sales of LHFS	50,243	37,138
Equity method investment loss	0	1,172
Decrease (increase) in other assets	36,169	(34,572)
(Decrease) increase in accounts payable and other liabilities	(36,366)	36,579
Net cash provided by operating activities	143,009	138,068
Cash flows from investing activities:
Purchases of AFS debt securities	(638,172)	(439,633)
Proceeds from sales of AFS debt securities	113,794	109,793
Proceeds from maturities, calls and pay downs of AFS debt securities	382,728	511,343
Purchases of HTM debt securities	(4,620)	0
Maturity, calls and paydowns of HTM debt securities	3,610	3,196
Proceeds of other investments	5,190	41,246
Net loans originated	(115,709)	(232,978)
Proceeds from sale of government guaranteed loans	30,928	82,950
Net (disposals) additions to premises and equipment	(12,086)	(1,019)
Net cash (used in) provided by investing activities	(234,337)	74,898
Cash flows from financing activities:
Net increase in deposits	701,109	1,073,318
Net (decrease) in advances from FHLB	(100,000)	(975,000)
Payments to tax authorities for stock-based compensation	(2,187)	(2,208)
Proceeds from exercise of employee stock options	350	803
Purchase of treasury stock	(3,537)	0
Dividends paid	(32,680)	(32,548)
Net cash provided by financing activities	563,055	64,365
Net increase in cash and cash equivalents	471,727	277,331
Cash and cash equivalents at beginning of period	629,063	436,077
Cash and cash equivalents at end of period	$ 1,100,790	$ 713,408

Stock-Based Awards - 2010 Plan Options (Details) - 2010 Incentive Plan - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 0	$ 0	$ 0	$ 0
Non-Performance Based Stock Options
Shares Underlying Options
Outstanding at beginning of period (in shares)				1,000
Exercised (in shares)			0	(1,000)
Outstanding at the end of period (in shares)		0		0	1,000
Options exercisable at end of period (in shares)		0		0
Weighted Exercise Price
Outstanding at beginning of period (in dollars per share)				$ 10.43
Exercised (in dollars per share)				10.43
Outstanding at the end of period (in dollars per share)		$ 0		0	$ 10.43
Options exercisable at end of period (in dollars per share)		$ 0		$ 0
Weighted Average Contractual Term
Outstanding (in years)					1 year 25 days
Exercisable		$ 0		$ 0
Non-performance-based stock options exercised			$ 0	$ 16,000

Stock-Based Awards - Green Bancorp Inc. 2010 Option Plan (Details) - Non-Performance Based Stock Options - Green Bancorp Inc. 2010 Stock Option Plan $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares
Shares Underlying Options
Outstanding at beginning of period (in shares) \| shares	10,784	43,162
Exercised (in shares) \| shares		(32,378)
Outstanding at the end of period (in shares) \| shares	10,784	10,784
Weighted Exercise Price
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 12.65	$ 13.11
Exercised (in dollars per share) \| $ / shares		13.26
Outstanding at the end of period (in dollars per share) \| $ / shares	$ 12.65	$ 12.65
Weighted Average Contractual Term
Outstanding (in years)	3 years 3 months 25 days	4 years 3 months 25 days
Aggregate Intrinsic Value
Outstanding \| $	$ 147
Non-performance-based stock options exercised \| $	$ 0	$ 379

Securities (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Gross Unrealized Loss 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:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value	$	356	$	(304)	$	209	$	(335)

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:


	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		ACL		Fair Value
AFS

Corporate bonds	$	271,207	$	1,754	$	21,515	$	—	$	251,446
Municipal securities	14,230		—		2,617		—		11,613
MBS	231,561		6,101		10,664		—		226,998
CMO	599,201		7,056		33,975		—		572,282
Asset-backed securities	113,882		1,477		1,892		—		113,467
Collateralized loan obligations	67,578		112		250		—		67,440
	$	1,297,659	$	16,500	$	70,913	$	—	$	1,243,246

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		ACL		Fair Value
HTM
MBS	$	31,277	$	—	$	5,175	$	—	$	26,102
CMO	33,114		—		3,836		—		29,278
Municipal securities	115,973		58		10,140		—		105,891
	$	180,364	$	58	$	19,151	$	—	$	161,271


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		ACL		Fair Value
AFS

Corporate bonds	$	244,652	$	1,034	$	29,566	$	—	$	216,120
Municipal securities	46,631		108		3,258		—		43,481
MBS	194,486		4,430		13,465		—		185,451
CMO	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

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

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


	September 30, 2024
	Less Than 12 Months				12 Months or More				Totals
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
AFS

Corporate bonds	$	45,852	$	4,038	$	169,253	$	17,477	$	215,105	$	21,515
Municipal securities	9,489		2,552		2,124		65		11,613		2,617
MBS	—		—		86,119		10,664		86,119		10,664
CMO	18,018		496		336,408		33,479		354,426		33,975
Asset-backed securities	39,701		201		13,997		1,691		53,698		1,892
Collateralized loan obligations	12,012		250		—		—		12,012		250
	$	125,072	$	7,537	$	607,901	$	63,376	$	732,973	$	70,913

HTM
MBS	$	—	$	—	$	26,102	$	5,175	$	26,102	$	5,175
CMO	—		—		29,278		3,836		29,278		3,836
Municipal securities	22,877		3,652		70,932		6,488		93,809		10,140
	$	22,877	$	3,652	$	126,312	$	15,499	$	149,189	$	19,151


	December 31, 2023
	Less Than 12 Months				12 Months or More				Totals
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized 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
MBS	—		—		104,486		13,465		104,486		13,465
CMO	—		—		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
MBS	$	—	$	—	$	27,679	$	6,037	$	27,679	$	6,037
CMO	—		—		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

Schedule of Activity in Allowance for Credit Loss

The following table presents the activity in the ACL for AFS debt securities:


	Three Months ended September 30,				Nine Months ended September 30,
	2024		2023		2024		2023
ACL on debt securities:
Beginning balance	$	—	$	885	$	—	$	—

Credit loss recovery	—		(885)		—		—
Ending balance	$	—	$	—	$	—	$	—

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


	September 30, 2024
	AFS				HTM
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	—	$	—	$	3,939	$	3,939
Due from one year to five years	73,247		72,887		894		868
Due from five years to ten years	181,966		165,765		19,512		19,153
Due after ten years	30,224		24,407		91,628		81,931
	285,437		263,059		115,973		105,891
MBS and CMO	830,762		799,280		64,391		55,380
Asset-backed securities	113,882		113,467		—		—
Collateralized loan obligations	67,578		67,440		—		—
	$	1,297,659	$	1,243,246	$	180,364	$	161,271


	December 31, 2023
	AFS				HTM
	Amortized Cost		Fair Value		Amortized Cost		Fair 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
MBS and CMO	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

Schedule of Proceeds From Sales of Debt Securities AFS and Gross Gains and Losses

Proceeds from sales of debt securities AFS and gross gains and losses for the nine months ended September 30, 2024 and 2023 were as follows:


	Nine Months ended September 30,
	2024		2023
Proceeds from sales	$	113,794	$	109,793

Gross realized losses	6,304		5,321

Legal Contingencies	9 Months Ended
Legal Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Contingencies	Legal Contingencies Litigation The Company may from time to time be involved in legal actions arising from normal business activities. In the opinion of management, there are no claims for which it is reasonably possible that an adverse outcome would have a material effect on the Company's financial position, liquidity or results of operations. The Company is not aware of any material unasserted claims.

OBS Loan Commitments (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

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 September 30, 2024 and December 31, 2023:


	September 30,		December 31,
	2024		2023
Commitments to extend credit	$	2,816,528	$	3,083,501
MW commitments	487,350		803,704
Standby and commercial letters of credit	113,780		111,590
Total	$	3,417,658	$	3,998,795

Schedule of Allowance for Unfunded Commitments


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Beginning balance for ACL on unfunded commitments	$	6,504	$	10,454	$	8,045	$	10,086
Benefit for credit losses on unfunded commitments	—		(909)		(1,541)		(541)
Ending balance of ACL on unfunded commitments	$	6,504	$	9,545	$	6,504	$	9,545

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 31,001	$ 32,621	$ 82,359	$ 104,762
Net unrealized gains (losses) on debt securities AFS:
Change in net unrealized gains (losses) on debt securities AFS during the period, net	35,720	(19,068)	20,700	(38,496)
(Accretion) amortization from transfer of debt securities from AFS to HTM	(163)	(168)	2,599	3,289
Reclassification adjustment for net losses included in net income	0	0	6,304	5,321
Net unrealized gains (losses) on debt securities AFS	35,557	(19,236)	29,603	(29,886)
Net unrealized gains (losses) on derivative instruments designated as cash flow hedges	10,541	(11,917)	(182)	(19,872)
Other comprehensive income (loss), before tax	46,098	(31,153)	29,421	(49,758)
Income tax expense (benefit)	9,715	(6,507)	6,288	(11,328)
Other comprehensive income (loss), net of tax	36,383	(24,646)	23,133	(38,430)
COMPREHENSIVE INCOME	$ 67,384	$ 7,975	$ 105,492	$ 66,332

Supplemental Statement of Cash Flows

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental Statement of Cash Flows

Other supplemental cash flow information is presented below:


	Nine Months Ended September 30,
	2024		2023
	(in thousands)

Cash paid for interest	$	283,619	$	208,668
Cash paid for income taxes	9,766		38,893

Stock-Based Awards

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Awards

2010 Stock Option and Equity Incentive Plan (“2010 Incentive Plan”)

The Company recognized no stock compensation expense related to the 2010 Incentive Plan for the three and nine months ended September 30, 2024 and 2023.


	2010 Incentive Plan
	Non-Performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2023	1,000	$	10.43	1.07 years



Exercised	(1,000)	10.43
Outstanding and exercisable at September 30, 2023	—	$	—	—	$	—

A summary of the fair value of the Company’s stock options exercised under the 2010 Incentive Plan for the nine months ended September 30, 2024 and 2023 is presented below:


	Fair Value of Options Exercised as of September 30,
	2024		2023
Nonperformance-based stock options exercised	$	—	$	16

2022 Equity Plan, Veritex (Green) 2014 Plan and Green 2010 Plan

Grants of RSU

During the three and nine months ending September 30, 2024, the Company granted non-performance-based RSUs and PSUs under the 2022 Amended and Restated Omnibus Incentive Plan (the “2022 Equity Plan”) and the Veritex (Green) 2014 Omnibus Equity Incentive Plan (the “Veritex (Green) 2014 Plan”). The majority of the RSUs granted to employees during the nine months ending September 30, 2024 have an annual graded vesting over a three year period from the grant date.

The PSUs granted in February 2024 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, 2024 to January 31, 2027, the performance conditions performance period is from January 1, 2024 to December 31, 2026 and the market condition performance period is from February 1, 2024 to January 31, 2027. A Monte Carlo simulation was used to estimate the fair value of PSUs on the grant date.

Stock Compensation Expense

Stock compensation expense for options, RSUs and PSUs granted under the 2022 Equity Plan and the Veritex (Green) 2014 Plan were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
2022 Equity Plan	$	2,923	$	2,471	$	8,139	$	7,616
Veritex (Green) 2014 Plan	274		489		1,114		1,398

2022 Equity Plan

A summary of the status of the Company’s stock options under the 2022 Equity Plan as of September 30, 2024 and 2023, and changes during the nine months then ended, is as follows:


	2022 Equity Plan
	Non-performance Based Stock Options
	Shares Underlying Options	Weighted Exercise Price		Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2023	657,494	$	24.47


Forfeited	(1,666)	17.38
Cancelled	(3,804)	29.13
Exercised	(17,285)	18.29
Outstanding at September 30, 2023	634,739	$	24.63	4.84 years
Options exercisable at September 30, 2023	608,739	$	24.79	4.78 years

Outstanding at January 1, 2024	602,573	$	24.40



Cancelled	(1,263)	23.86
Exercised	(3,114)	14.17
Outstanding at September 30, 2024	598,196	$	24.45	4.10 years	$	1,599,454
Options exercisable at September 30, 2024	598,196	$	24.45	4.10 years	$	1,599,454

There was no unrecognized compensation expense related to options awarded under the 2022 Equity Plan as of September 30, 2024 and December 31, 2023. As of September 30, 2023, there was $36 of total unrecognized compensation expense related to options awarded under the 2022 Equity Plan.

A summary of the status of the Company’s RSUs under the 2022 Equity Plan as of September 30, 2024 and 2023, and changes during the nine months then ended, is as follows:


	2022 Equity Plan
	Non-performance-Based
	RSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	955,104	$	28.38
Granted	289,252	27.17

Vested into shares	(237,940)	29.58
Forfeited	(30,533)	32.23
Outstanding at September 30, 2023	975,883	$	27.61

Outstanding at January 1, 2024	982,513	$	27.52
Granted	190,018	21.94

Vested into shares	(282,785)	27.92
Forfeited	(5,558)	30.53
Outstanding at September 30, 2024	884,188	$	25.79

A summary of the status of the Company’s PSUs under the 2022 Equity Plan as of September 30, 2024 and 2023, and changes during the nine months then ended, is as follows:


	2022 Equity Plan
	Performance-Based
	PSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	126,707	$	31.19
Granted	53,310	27.55

Vested into shares	(41,781)	26.42
Forfeited	(8,468)	30.90
Outstanding at September 30, 2023	129,768	$	30.28

Outstanding at January 1, 2024	129,768	$	30.28
Granted	113,144	18.84

Vested into shares	(79,367)	26.49

Outstanding at September 30, 2024	163,545	$	24.62

As of September 30, 2024, December 31, 2023 and September 30, 2023, there was $14,685, $14,692 and $16,869 of total unrecognized compensation related to RSUs and PSUs awarded under the 2022 Equity Plan, respectively. The unrecognized compensation expense at September 30, 2024 is expected to be recognized over the remaining weighted average requisite service period of 2.22 years.

A summary of the fair value of the Company’s stock options exercised, RSUs and PSUs vested under the 2022 Equity Plan during the nine months ended September 30, 2024 and 2023 is presented below:


	Fair Value of Options Exercised or RSUs Vested in the Nine Months Ended September 30,
	2024		2023
Non-performance-based stock options exercised	$	32	$	66
RSUs vested	4,547		3,800
PSUs vested	1,608		1,070

Veritex (Green) 2014 Plan

A summary of the status of the Company’s stock options under the Veritex (Green) 2014 Plan as of September 30, 2024 and 2023, and changes during the nine months 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 January 1, 2023	155,212	$	19.83



Cancelled	(9,717)	21.38
Exercised	(13,266)	22.74
Outstanding at September 30, 2023	132,229	$	21.89	3.91 years
Options exercisable at September 30, 2023	132,229	$	21.89	3.91 years

Outstanding at January 1, 2024	124,499	$	19.78




Exercised	(23,563)	16.46
Outstanding at September 30, 2024	100,936	$	20.56	3.55 years	$	669,145
Options exercisable at September 30, 2024	100,936	$	20.56	3.55 years	$	669,145
Weighted average fair value of options granted during the period		$	—

As of September 30, 2024, December 31, 2023 and September 30, 2023 there was no 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 September 30, 2024 and 2023 and changes during the nine months then ended, is as follows:


	Veritex (Green) 2014 Plan
	Non-performance-Based
	RSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	86,233	$	21.09

Vested into shares	(19,282)	29.66
Forfeited	(2,232)	29.13
Outstanding at September 30, 2023	64,719	$	18.26

Outstanding at January 1, 2024	64,719	$	18.26

Vested into shares	(5,154)	32.20

Outstanding at September 30, 2024	59,565	$	17.51

A summary of the status of the Company’s PSUs under the Veritex (Green) 2014 Plan as of September 30, 2024 and 2023 and changes during the nine months then ended, is as follows:


	Veritex (Green) 2014 Plan
	Performance-Based
	PSUs
	Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	19,173	$	30.74


Vested into shares	(8,531)	25.94

Outstanding at September 30, 2023	10,642	$	31.93

Outstanding at January 1, 2024	10,642	$	31.93
Granted	1,246	18.84

Vested into shares	(7,477)	25.94

Outstanding at September 30, 2024	4,411	$	40.38

As of September 30, 2024, December 31, 2023 and September 30, 2023, there was $636, $1,781, and $2,232, 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 0.71 years.


	Fair Value of Options Exercised or RSUs Vested in the Nine Months Ended September 30,
	2024		2023
Non-performance-based stock options exercised	$	178	$	18
RSUs vested	1,420		2,169
PSUs vested	149		227

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 September 30, 2024 and 2023, and changes during the nine months 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, 2023	43,162	$	13.11




Exercised	(32,378)	13.26
Outstanding at September 30, 2023	10,784	$	12.65	4.32 years

Outstanding at January 1, 2024	10,784	$	12.65





Outstanding at September 30, 2024	10,784	$	12.65	3.32 years	$	147

A summary of the fair value of the Company’s stock options exercised under the Green 2010 Plan during the nine months ended September 30, 2024 and 2023 presented below:


	Fair Value of Options Exercised as of September 30,
	2024		2023
Nonperformance-based stock options exercised	$	—	$	379

Share Transactions

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Share Transactions

Stock Buyback Program

On March 26, 2024, the Board authorized a stock buyback program (the "Stock Buyback Program") pursuant to which the Company could, from time to time, purchase up to $50,000 of its outstanding common stock in the aggregate. The Stock Buyback Program has an expiration date of March 31, 2025 and may be suspended, terminated, amended or modified by the Board at any time without prior notice at the Board’s discretion. The shares may be 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 and the program may be terminated or amended by the Board at any time prior to its expiration.

Shares repurchased through the periods indicated are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numbers of shares repurchased	1,982		—		177,670		—
Weighted average price per share	$	20.24	$	—	$	19.91	$	—