Legacytexas Financial Group, Inc. (LTXB) 10-Q Quarterly Report July 2017

PLANO, Texas, July 18, 2017 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced record net income of $27.9 million for the second quarter of 2017, an increase of $9.7 million from the first quarter of 2017 and $4.7 million from the second quarter of 2016.

"We are pleased to report record net income of $27.9 million for the quarter," said President and CEO Kevin Hanigan. "We continue to grow our customer base and market share in the Dallas/Fort Worth Metroplex. Our team grew loans and deposits and controlled expenses, resulting in a very strong return on average assets of 1.32%."

Second Quarter 2017 Performance Highlights


•	Company assets of $8.97 billion generated basic earnings per share for the second quarter of 2017 of $0.60 on both a GAAP and core (non-GAAP) basis.


•	Gross loans held for investment at June 30, 2017, excluding Warehouse Purchase Program loans, grew $144.0 million from March 31, 2017, while total deposits grew $182.9 million for the same period.


•	Warehouse Purchase Program loans of $1.26 billion at June 30, 2017, an increase of $409.8 million from March 31, 2017, generated a $2.2 million increase in interest income on a linked-quarter basis.


•	Efficiency ratio remained low at 44.96% for the quarter ended June 30, 2017, compared to 44.83% for the quarter ended March 31, 2017.


•	Return on average assets for the quarter ended June 30, 2017 was 1.32%, compared to 0.89% for the quarter ended March 31, 2017, and 1.20% for the quarter ended June 30, 2016.


•	Interest income on loans increased $814,000 on a linked-quarter basis to $83.9 million for the second quarter of 2017. Excluding the amortization of a $4.7 million discount on a purchased energy loan in the first quarter, interest income on loans increased $5.5 million on a linked-quarter basis.

The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, July 18, 2017 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-Q Quarterly 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-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 3.2: Articles Of Incorporation

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

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

Exhibit 32.0: Section 1350 Certification

Ticker: LTXB
CIK: 1487052
Form Type: 10-Q Quarterly Report
Accession Number: 0001487052-17-000106
Submitted to the SEC: Tue Jul 25 2017 4:21:54 PM EST
Accepted by the SEC: Tue Jul 25 2017
Period: Friday, June 30, 2017
Industry: Savings Institution Federally Chartered

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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

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