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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Legacytexas Financial Group, Inc.

CIK: 1487052 Ticker: LTXB
EXHIBIT 99.1

ltxbpressreleasebannera01a18.jpg
FOR IMMEDIATE RELEASE
January 23, 2018
Contact: Investor Inquiries:
Casey Farrell
972-801-5871/ShareholderRelations@LegacyTexasFinancialGroup.com
Media Inquiries:
Jennifer Dexter
972-461-7157/Jennifer.Dexter@LegacyTexas.com

LegacyTexas Financial Group, Inc. Reports Fourth Quarter and Full Year 2017 Earnings

PLANO, Texas, January 23, 2018 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $14.7 million for the fourth quarter of 2017, a decrease of $14.0 million from the third quarter of 2017 and $10.6 million from the fourth quarter of 2016. Net income for the fourth quarter of 2017 included a $13.5 million income tax adjustment to the Company's deferred tax asset related to the December 22, 2017 enactment of the Tax Cuts and Jobs Act. Net income, excluding this one-time tax adjustment, totaled $28.2 million for the fourth quarter of 2017, a decrease of $556,000 from the third quarter of 2017 and an increase of $2.8 million from the fourth quarter of 2016.

"We are pleased to report another strong quarter and a strong full year of results for 2017," said President and CEO Kevin Hanigan. "Our dedicated team continues to execute our strategy and grow our customer base and franchise while actively serving each of our communities. We look forward to continued success in 2018 and the future."

Fourth Quarter 2017 Performance Highlights

Company assets of $9.09 billion generated basic earnings per share for the fourth quarter of 2017 of $0.31 on a GAAP basis and $0.60 on a core (non-GAAP) basis.

Average gross loans held for investment for the quarter ended December 31, 2017, excluding Warehouse Purchase Program loans, grew $208.6 million from the quarter ended September 30, 2017, leading to a seven basis point increase in net interest margin to 3.78% for the quarter ended December 31, 2017.

The Company's efforts to grow non-interest-bearing demand deposits resulted in a linked-quarter increase in these deposits of $106.6 million, or 7.0%, to $1.64 billion at December 31, 2017. Non-interest-bearing deposits totaled 24.2% of total deposits at December 31, 2017.

Return on average assets for the quarter ended December 31, 2017 was 0.66%, compared to 1.29% for the quarter ended September 30, 2017, while core (non-GAAP) return on average assets for the quarter ended December 31, 2017 was 1.27%, compared to 1.28% for the quarter ended September 30, 2017.

Full Year 2017 Performance Highlights
Net income for the year ended December 31, 2017 totaled $89.5 million, which included the impact of the above-mentioned $13.5 million income tax adjustment to the Company's deferred tax asset. Excluding this adjustment, net income totaled $103.0 million for the year ended December 31, 2017, an increase of $5.2 million from the year ended December 31, 2016.
Basic earnings per share on a GAAP basis for the year ended December 31, 2017 was $1.91, down $0.20 from $2.11 for the year ended December 31, 2016, while core (non-GAAP) basic earnings per share for the year ended December 31, 2017 was $2.19, up $0.11 from $2.08 for the year ended December 31, 2016.

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The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, January 23, 2018 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
Benefits
Benefits - Deferred Compensation Plan And Bank-owned Life Insurance (details)
Benefits - Employee Stock Ownership And 401(k) Plan (details)
Borrowed Funds
Borrowed Funds (tables)
Borrowed Funds - Fhlb Advances (details)
Borrowed Funds - Other Borrowing Information (details)
Borrowed Funds - Repurchase Agreement (details)
Borrowed Funds - Subordinated Debt And Other Borrowings (details)
Borrowed Funds - Summary Of Borrowed Funds (details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (tables)
Commitments And Contingent Liabilities - Narrative (details)
Commitments And Contingent Liabilities - Off-balance Sheet Agreements (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 (details)
Earnings Per Common Share (tables)
Fair Value
Fair Value (tables)
Fair Value - Assets And Liabilities Measured At Fair Value On A Non-recurring Basis (details)
Fair Value - Assets And Liabilities Measured At Fair Value On A Recurring Basis (details)
Fair Value - Fair Value Of Financial Instruments Not Recorded At Fair Value (details)
Fair Value - Narrative (details)
Goodwill And Core Deposit Intangibles
Goodwill And Core Deposit Intangibles (tables)
Goodwill And Core Deposit Intangibles - Changes In Carrying Amount Of Company's Goodwill And Core Deposit Intangibles (cdi) (details)
Goodwill And Core Deposit Intangibles - Estimated Aggregate Future Amortization Expense For Intangible Assets Remaining (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Income Tax Expense (details)
Income Taxes - Narrative (details)
Income Taxes - Reconciliation Of Effective Income Tax Rate (details)
Loans
Loans (tables)
Loans - Allowance For Loan Losses (details)
Loans - Allowance For Off-balance Sheet Credit 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 - Loans (details)
Loans - Narrative (details)
Loans - Non-performing (nonaccrual) Loans (details)
Loans - Outstanding Balances Of Tdrs (details)
Loans - Real Estate And Commercial And Industrial Credit Risk Profile By Internally Assigned Grade (details)
Loans - Recorded Balances Of Loans Modified As Tdrs (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 (details)
Regulatory Capital Matters (tables)
Related Party Transactions
Related Party Transactions (details)
Related Party Transactions (tables)
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 Sales Activity (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
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: 0001487052-18-000014
Submitted to the SEC: Thu Feb 08 2018 4:11:36 PM EST
Accepted by the SEC: Thu Feb 08 2018
Period: Sunday, December 31, 2017
Industry: Savings Institution Federally Chartered

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