Exhibit 99.1

 

LOGO

 

Contact:    Mark Hord    FOR IMMEDIATE RELEASE
   ViewPoint Financial Group, Inc.    February 28, 2012
   972-578-5000, Ext. 7440   

Filed by ViewPoint Financial Group, Inc.

Commission File No: 001-34737

Pursuant to Rule 425 under the Securities Act of 1933

Subject Company: Highlands Bancshares, Inc.

Commission File No: 001-34737

ViewPoint Financial Group, Inc. Reports Record Fourth Quarter and Full Year 2011 Earnings

$205.6 Million Linked Quarter Increase in Gross Loans

PLANO, Texas, February 28, 2012 — ViewPoint Financial Group, Inc. (NASDAQ: VPFG) (the “Company”), the holding company for ViewPoint Bank, N.A., announced financial results today for the quarter and year ended December 31, 2011. Detailed results of the year will be available in the Company’s Annual Report on Form 10-K, which will be filed today and posted on our websites, http://www.viewpointbank.com and http://www.viewpointfinancialgroup.com.

Performance Highlights

 

   

All-time high quarterly net income of $9.8 million, an increase of $4.6 million, or 90.0%, from last quarter: The $4.6 million linked quarter increase in net income, excluding the $1.9 million net of tax gain on sale of securities, was driven by an increase in net interest income of $3.7 million. Full year 2011 net income was $26.3 million, an increase of $8.5 million, or 47.9%, from 2010.

 

   

Linked quarter growth in Warehouse Purchase Program, commercial real estate and C&I loans drives $205.6 million increase in gross loans: Warehouse Purchase Program loan balances at December 31, 2011, increased by $137.1 million from September 30, 2011, while commercial real estate loan balances increased by $51.8 million and commercial and industrial loan balances increased by $26.6 million.

 

   

26 basis point linked quarter increase in net interest margin: Net interest margin increased 26 basis points to 3.13% for the quarter ended December 31, 2011, compared to 2.87% for the quarter ended September 30, 2011.

 

   

Full-year 2011 loan growth of 29.0%: During the year ended December 31, 2011, loans increased by $463.4 million, or 29.0%. This increase was driven by a $340.0 million increase in Warehouse Purchase Program loans held for sale and a $104.4 million increase in commercial real estate loan balances.

 

   

Basic and diluted EPS increased by $0.15 linked quarter to $0.31: Basic and diluted earnings per share for the quarter ended December 31, 2011, were $0.31, up $0.15 from the quarter ended September 30, 2011. Basic and diluted earnings per share for the year ended December 31, 2011, was $0.81, a $0.22 increase from $0.59 for the year ended December 31, 2010.

“We are very pleased with our results for the quarter,” said Interim President and Chief Executive Officer Mark Hord. “Record quarterly and full-year earnings cap a year in which we also achieved substantial and broad-based loan growth, successfully converted to a national bank charter, and announced a strategic in-market bank acquisition.”

James McCarley, Chairman of the Board of the Company, said, “After a strong 2011, and with long-time Texas commercial banker Kevin Hanigan joining ViewPoint as our new President and Chief Executive Officer upon the closing of the Highlands Bancshares, Inc. acquisition, we believe we are well positioned to achieve our goal of becoming the Metroplex’s premier community bank.”

Net Interest Margin

The net interest margin for the fourth quarter of 2011 was 3.13%, a 26 basis point increase from the third quarter of 2011 and a 15 basis point increase from the fourth quarter of 2010. The linked quarter increase was primarily due to increased volume in our Warehouse Purchase Program, as the average balance of these loans increased by $309.6 million, and lower deposit costs due to gradual rate reductions in Absolute Checking and other interest-bearing deposit accounts. The year over year increase was primarily due to increased volume in the Warehouse Purchase Program and commercial real estate loans, as well as reduced deposit and borrowing costs. The decrease in the average rate paid on borrowings was caused by the strategic decision to fund a portion of the increase in Warehouse Purchase Program balances with short-term advances and the November 2010 restructuring of $91.6 million in fixed-rate FHLB advances.


The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, February 28, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Legacytexas Financial Group, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Legacytexas Financial Group, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account