Legacytexas Financial Group, Inc. (LTXB) 10-K Annual Report Fri Feb 26 2016

PLANO, Texas, January 26, 2016 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $16.4 million for the fourth quarter of 2015, a decrease of $1.4 million from the third quarter of 2015 and an increase of $11.0 million from the fourth quarter of 2014.

"Despite energy headwinds, 2015 was a fabulous year for our company," said President and CEO Kevin Hanigan. "We closed on the transformative Legacy merger in January, grew both our loans and deposits substantially, improved key operating metrics and issued $75 million of subordinated notes to support our growth. We are fortunate to be operating in a business environment as strong and diversified as DFW."

Fourth Quarter 2015 Performance Highlights


•	Gross loans held for investment at December 31, 2015, excluding Warehouse Purchase Program loans, grew $377.7 million, or 8.1%, from September 30, 2015, with $317.3 million of growth in commercial real estate and commercial and industrial loans.


•	Deposits at December 31, 2015 increased by $456.7 million, or 9.6%, from September 30, 2015, with $227.0 million of growth in savings and money market deposits and $126.9 million of growth in time deposits.


•	The allowance for loan losses allocated to energy loans at December 31, 2015 totaled $12.0 million, or 2.3% of total energy loans (including both reserve based and midstream), up $7.1 million ($0.15 per share on a pre-tax basis, $0.10 per share after tax) from $4.9 million at September 30, 2015.


•	Net interest margin for the quarter ended December 31, 2015 was 3.94%, a six basis point decrease from the linked quarter and a ten basis point increase compared to the fourth quarter of 2014.


•	In November 2015, the Company completed a public offering of $75.0 million of fixed-to-floating rate subordinated notes due in 2025, the proceeds of which are being used for general corporate purposes, potential strategic acquisitions and investments in the Bank as regulatory capital.

The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, January 26, 2016 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

Material Contracts, Statements, Certifications & more

Legacytexas Financial Group, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: LTXB
CIK: 1487052
Form Type: 10-K Annual Report
Accession Number: 0001487052-16-000113
Submitted to the SEC: Fri Feb 26 2016 4:17:10 PM EST
Accepted by the SEC: Fri Feb 26 2016
Period: Thursday, December 31, 2015
Industry: Savings Institution Federally Chartered

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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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