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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Legacytexas Financial Group, Inc.

CIK: 1487052 Ticker: LTXB
EXHIBIT 99.1

FOR IMMEDIATE RELEASE
January 27, 2015
Contact: Investor Inquiries:
Casey Farrell, LegacyTexas Financial Group, Inc.
972-801-5871/shareholderrelations@legacytexasfinancialgroup.com
Media Inquiries:
Mary Rische
972-509-2020 Ex. 7331/mary.rische@legacytexas.com

LegacyTexas Financial Group, Inc. Reports Fourth Quarter and Full Year 2014 Earnings
Strong Loan Growth of $696.7 million, or 26%, over 2013;
Merger with LegacyTexas Group, Inc. Completed on January 1, 2015

PLANO, Texas, January 27, 2015 -- LegacyTexas Financial Group, Inc. (formerly known as ViewPoint Financial Group, Inc.) (NASDAQ: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $5.5 million and core net income (which is net income adjusted for the impact of merger and acquisition costs and certain other items) of $11.2 million for the quarter ended December 31, 2014. Basic earnings per share for the quarter ended December 31, 2014, was $0.14, while core basic earnings per share for the same period was $0.29. Net income for the year ended December 31, 2014 totaled $31.3 million, or $0.82 basic earnings per share, and core net income for the same period totaled $38.9 million, or $1.03 basic earnings per share. The reconciliation of non-GAAP measures, which the Company believes facilitates the assessment of its banking operations and peer comparability, is included in tabular form at the end of this release.
 
For the Quarters Ended
 
Linked Quarter
 
Year-over-Year
 
For the Years Ended December 31,
 
Q4 2014
 
Q3 2014
 
Q4 2013
 
$ change
 
% change
 
$ change
 
% change
 
2014
 
2013
 
$ change
 
% change
(Dollars in thousands, except per share amounts; all periods unaudited except for net income and earnings per share for full year 2013)
Net income
$
5,466

 
$
9,312

 
$
7,244

 
$
(3,846
)
 
(41.3
)%
 
$
(1,778
)
 
(24.5
)%
 
$
31,278

 
$
31,688

 
$
(410
)
 
(1.3
)%
Core net income
11,186

 
10,026

 
7,776

 
1,160

 
11.6

 
3,410

 
43.9

 
38,902

 
32,096

 
6,806

 
21.2

Basic EPS
0.14

 
0.24

 
0.19

 
(0.10
)
 
(41.7
)
 
(0.05
)
 
(26.3
)
 
0.82

 
0.83

 
(0.01
)
 
(1.2
)
Core basic EPS
0.29

 
0.26

 
0.21

 
0.03

 
11.5

 
0.08

 
38.1

 
1.03

 
0.85

 
0.18

 
21.2


Fourth Quarter 2014 Performance Highlights

Loans held for investment at December 31, 2014, excluding Warehouse Purchase Program loans, grew $144.6 million, or 5.8%, from September 30, 2014, with commercial loans ending the year at $2.06 billion, an increase of $133.9 million, or 6.9%, from the linked quarter. Since December 31, 2013, loans held for investment, excluding Warehouse Purchase Program loans, grew by $583.8 million, or 28.5%, including a $503.8 million, or 32.3%, increase in commercial loans.

Warehouse Purchase Program loans at December 31, 2014, grew on both a linked-quarter and year-over-year basis, increasing by $49.8 million, or 6.8%, from September 30, 2014, and by $112.9 million, or 16.8%, from December 31, 2013.



1

The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, January 27, 2015 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

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)
Benefits
Benefits - Deferred Compensation Plan And Bank-owned Life Insurance (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 - Narrative (details)
Deposits - Scheduled Maturity Of Time Deposits (details)
Derivative Financial Instruments
Derivative Financial Instruments - (tables)
Derivative Financial Instruments - Schedule Of Notional Amounts Of Outstanding Derivative Positions (details)
Derivative Financial Instruments - Schedule Of Outstanding Notional Balances And Fair Values Of Outstanding Positions (details)
Earnings Per Common Share
Earnings Per Common Share - (tables)
Earnings Per Common Share - Reconciliation Of Numerator And Denominator Of Basic And Diluted Earnings Per Common Share (details)
Esop Plan
Esop Plan - (tables)
Esop Plan - Narrative (details)
Esop Plan - Shares Held By The Employee Stock Ownership Plan (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 - Narrative (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 - Narrative (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 - Narrative (details)
Loans
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 - Loans (details)
Loans - Narrative (details)
Loans - Non-performing (nonaccrual) Loans (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 - Narrative (details)
Premises And Equipment - Rent Commitments (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) - (details)
Quarterly Financial Data (unaudited) - (tables)
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 - Narrative (details)
Related Party Transactions
Related Party Transactions - (tables)
Related Party Transactions - Loans (details)
Related Party Transactions - Narrative (details)
Repurchase Agreement
Repurchase Agreement - Narrative (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 - Narrative (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 - Narrative (details)
Segment Information - Segment Information For Performance Assessment (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 - Narrative (details)
Share-based Compensation - Summary Of Activity In The Stock Option Portion Of The Plans (details)
Share-based Compensation - Underlying Assumptions For Fair Value Calculations (details)
Subsequent Events
Subsequent Events (tables)
Subsequent Events - Narrative (details)
Subsequent Events - Schedule Of Additional Information On Purchase Credit Impaired Loans (details)
Subsequent Events - Schedule Of Loans Acquired (details)
Subsequent Events - Schedule Of Pro Forma Information (details)
Subsequent Events - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed (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: 0001487052-15-000015
Submitted to the SEC: Wed Feb 25 2015 4:16:08 PM EST
Accepted by the SEC: Wed Feb 25 2015
Period: Wednesday, December 31, 2014
Industry: Savings Institution Federally Chartered

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