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Viewpoint Financial Group Inc. (LTXB) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Legacytexas Financial Group, Inc.

CIK: 1487052 Ticker: LTXB
EXHIBIT 99.1


FOR IMMEDIATE RELEASE
February 4, 2014
Contact: Investor Inquiries:
Casey Farrell, ViewPoint Financial Group, Inc.
972-801-5871/shareholderrelations@viewpointfinancialgroup.com

Media Inquiries:
Mary Rische, ViewPoint Bank
972-509-2020 Ex. 7331/mary.rische@viewpointbank.com

ViewPoint Financial Group, Inc. Reports Fourth Quarter and Full Year 2013 Earnings
Merger With LegacyTexas Group Announced During the Quarter
Loan Growth Drives Improvements in Net Interest Margin

PLANO, Texas, February 4, 2014 -- ViewPoint Financial Group, Inc. (NASDAQ: VPFG) (the “Company”), the holding company for ViewPoint Bank, N.A. (the “Bank”), today announced net income of $7.2 million for the quarter ended December 31, 2013, a decrease of $968,000, or 11.8%, from the quarter ended September 30, 2013. Compared to the fourth quarter of 2012, net income decreased by $3.1 million, or 30.1%. Net income for the year ended December 31, 2013, was $31.7 million, a $3.6 million decrease, or 10.1%, from net income of $35.2 million for the year ended December 31, 2012. Basic and diluted earnings per share for the quarter ended December 31, 2013, was $0.19. Basic earnings per share was down $0.03 from the linked quarter and down $0.09 from the quarter ended December 31, 2012, reflecting merger costs of $663,000 and severance costs of $210,000, which accounted for a $0.02 per share decline in earnings per share.

In November 2013, the Company announced that it had entered into a definitive agreement under which LegacyTexas Group, Inc. will merge into ViewPoint and, immediately thereafter, ViewPoint's bank subsidiary, ViewPoint Bank, N.A., will merge into LegacyTexas Group's subsidiary bank, LegacyTexas Bank. The merger will result in one of the largest independent banks in the state of Texas, with 51 branches and pro forma assets of over $5 billion. President and CEO Kevin Hanigan, said, "This combination allows ViewPoint to accomplish many of our strategic objectives, including: gaining greater scale in the Dallas-Fort Worth Metroplex; accelerating ViewPoint's transition to a full-service, commercial-oriented community bank; leveraging our excess capital in a financially attractive transaction, and deepening our management and board depth and experience."

Full Year 2013 Performance Highlights

Merger with LegacyTexas Group announced November 2013; the merger will result in one of the largest independent banks in the state of Texas, with 51 branches and pro forma assets of over $5 billion

Continued execution of commercial banking strategy with commercial loan portfolio growing 39.3% to a total of $1.6 billion

The Company formed a new energy lending group in May 2013 with total loans outstanding of $166.5 million at December 31, 2013

Net interest margin expanded to 3.71% for the year compared to 3.61% for 2012

Non-performing assets of $22.6 million, or 0.64% of total assets, at December 31, 2013, represents lowest level in nine quarters


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The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, February 4, 2014 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.

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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Income (parenthetical)
Adjustment To Financial Statements (tables)
Adjustment To Financial Statements Adjustment To Financial Statements
Adjustment To Financial Statements Impact To The Consolidated Balance Sheets (details)
Adjustment To Financial Statements Impact To The Consolidated Statements Of Cash Flows (details)
Benefits
Benefits - (details)
Benefits - Ksop 401k (details)
Borrowings
Borrowings - (tables)
Borrowings - Advances From Federal Home Loan Banks (details)
Borrowings - Advances From Federal Home Loan Banks Pay Down Schedule (details)
Borrowings - Other Borrowings (details)
Deposits
Deposits - (tables)
Deposits - Interest Expense On Deposits (details)
Deposits - Textual (details)
Deposits - Weighted Average Rate (details)
Derivative Financial Instruments
Derivative Financial Instruments - (tables)
Derivative Financial Instruments - Derivative Instruments And Hedging Activities Disclosure (details)
Derivative Financial Instruments - Outstanding Notional Balances And Fair Values Of Outstanding Positions (details)
Earnings Per Common Share
Earnings Per Common Share - (details)
Earnings Per Common Share - (tables)
Esop Plan
Esop Plan - (tables)
Esop Plan - Shares Held By The Employee Stock Ownership Plan (details)
Esop Plan - Textual (details)
Fair Value
Fair Value - (tables)
Fair Value - Carrying Amount And Estimated Fair Values Of Financial Instruments (details)
Fair Value - Narrative (details)
Fair Value - Summary Of Fair Value Measured On Nonrecurring Basis (details)
Fair Value - Summary Of Fair Value Measured On Recurring Basis (details)
Goodwill And Core Deposit Intangibles
Goodwill And Core Deposit Intangibles - (details)
Goodwill And Core Deposit Intangibles - (tables)
Goodwill And Core Deposit Intangibles - Estimated Aggregate Future Amortization Expense For Intangible Assets Remaining (details)
Goodwill And Core Deposit Intangibles - Textual (details)
Income Taxes
Income Taxes - Expense (details)
Income Taxes - (tables)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Effective Tax Rate (details)
Income Taxes - Textual (details)
Loan Commitments, Contingent Liabilities And Other Related Activities
Loan Commitments, Contingent Liabilities And Other Related Activities - (details)
Loan Commitments, Contingent Liabilities And Other Related Activities - (tables)
Loan Commitments, Contingent Liabilities And Other Related Activities - Textual (details)
Loan Sales And Servicing
Loan Sales And Servicing - (details)
Loan Sales And Servicing - (tables)
Loans
Loans - (details)
Loans - (tables)
Loans - Allowance For Loan Losses (details)
Loans - Analysis Of Age Of Recorded Investment In Loans (details)
Loans - Carrying Amount Of Acquired Pci Loans Included In The Consolidated Balance Sheet (details)
Loans - Changes In The Accretable Yield For Acquired Pci Loans (details)
Loans - Consumer Credit Exposure Credit Risk Profile Based On Payment Activity (details)
Loans - Impaired Loans (details)
Loans - Information On Loans Modified As Troubled Debt Restructuring By Category (details)
Loans - Narrative (details)
Loans - Non-performing (nonaccrual) Loans (details)
Loans - Pci Loans And Portfolios At Estimated Fair Value On The Acquisition Date (details)
Loans - Real Estate And Commercial And Industrial Credit Exposure Credit Risk Profile By Internally Assigned Grade (details)
Loans - Summary Of Outstanding Balances Of Troubled Debt Restructuring (details)
Parent Company Only Condensed Financial Information
Parent Company Only Condensed Financial Information - (tables)
Parent Company Only Condensed Financial Information - Condensed Balance Sheets (details)
Parent Company Only Condensed Financial Information - Condensed Statements Of Cash Flows (details)
Parent Company Only Condensed Financial Information - Condensed Statements Of Income (details)
Premises And Equipment
Premises And Equipment - (details)
Premises And Equipment - (tables)
Premises And Equipment - Rent Commitments (details)
Premises And Equipment - Textual (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) - (details)
Quarterly Financial Data (unaudited) - (tables)
Quarterly Financial Data (unaudited) - Textual (details)
Regulatory Capital Matters
Regulatory Capital Matters - (tables)
Regulatory Capital Matters - Levels And Ratios (details)
Regulatory Capital Matters - Levels And Ratios 1 (details)
Regulatory Capital Matters - Textual (details)
Related Party Transactions
Related Party Transactions - (tables)
Related Party Transactions - Loans (details)
Related Party Transactions - Textual (details)
Repurchase Agreements
Repurchase Agreements - (details)
Securities
Securities - (tables)
Securities - Carrying Amount And Fair Value Of Held To Maturity Debt Securities And Fair Value Of Available-for-sale Debt Securities (details)
Securities - Carrying Amount, Unrecognized Gains And Losses, And Fair Value Of Securities Held To Maturity (details)
Securities - Fair Value Of Available-for-sale Securities And Related Gross Unrealized Gains And Losses (details)
Securities - Sales Activity Textual (details)
Securities - Securities With Unrealized Losses Aggregated By Investment And Length Of Time That Individual Securities Have Been In Continuous Unrealized Loss Position Category (details)
Securities - Summarized Information Regarding Pledged Securities (details)
Securities - Summarized Sales Activity (details)
Segment Information
Segment Information - (tables)
Segment Information - Segment Information For Performance Assessment (details)
Segment Information - Textual (details)
Share Transactions
Share Transactions - (details)
Share-based Compensation
Share-based Compensation - (tables)
Share-based Compensation - Changes In The Nonvested Shares For The Company's Stock Plans (details)
Share-based Compensation - Compensation Cost Charged To Income (details)
Share-based Compensation - Summary Of Activity In The Stock Option Portion Of The Plans (details)
Share-based Compensation - Textual (details)
Share-based Compensation - Underlying Assumptions For Fair Value Calculations (details)
Subsequent Events
Subsequent Events - (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies - (details)
Summary Of Significant Accounting Policies - (policies)
Ticker: LTXB
CIK: 1487052
Form Type: 10-K Annual Report
Accession Number: 0001487052-14-000016
Submitted to the SEC: Wed Feb 26 2014 4:22:51 PM EST
Accepted by the SEC: Wed Feb 26 2014
Period: Tuesday, December 31, 2013
Industry: Savings Institution Federally Chartered

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