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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Legacytexas Financial Group, Inc.

CIK: 1487052 Ticker: LTXB
EXHIBIT 99.1

ltxbpressreleasebannera01a21.jpg
FOR IMMEDIATE RELEASE
April 17, 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 First Quarter 2018 Earnings

PLANO, Texas, April 17, 2018 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $25.8 million for the first quarter of 2018, an increase of $11.1 million from the fourth quarter of 2017 and $7.6 million from the first quarter of 2017. 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, with no comparable charge in the 2018 period.

"The LegacyTexas team of bankers continues to execute on our strategies and grow our customer relationships on both the loan and deposit sides of our business," said President and CEO Kevin Hanigan. "I am particularly pleased with our improved asset quality and the continued growth in non-interest-bearing deposits. These improvements are paramount to accelerating our already strong earnings power."

First Quarter 2018 Performance Highlights

Company assets of $8.87 billion generated basic earnings per share for the first quarter of 2018 of $0.55 on a GAAP basis and $0.52 on a core (non-GAAP) basis.

Gross loans held for investment at March 31, 2018, excluding Warehouse Purchase Program loans, grew $85.9 million from December 31, 2017, which includes linked-quarter increases in commercial real estate, commercial and industrial and consumer real estate loans.

Non-performing loans declined by $44.6 million, or 47.2%, from December 31, 2017, totaling $49.8 million at March 31, 2018.

The Company's efforts to grow non-interest-bearing demand deposits resulted in a linked-quarter increase in these deposits of $45.4 million to $1.68 billion at March 31, 2018. Non-interest-bearing deposits totaled 24.2% of total deposits at March 31, 2018.

Return on average assets for the quarter ended March 31, 2018 was 1.19%, compared to 0.66% for the quarter ended December 31, 2017, while core (non-GAAP) return on average assets for the quarter ended March 31, 2018 was 1.13%, compared to 1.27% for the quarter ended December 31, 2017.




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The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, April 17, 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-Q Quarterly 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
Basis Of Financial Statement Presentation
Basis Of Financial Statement Presentation (policies)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (tables)
Commitments And Contingent Liabilities - Contractual Amounts Of Financial Instruments With Off-balance Sheet Risk (details)
Commitments And Contingent Liabilities - Narrative (details)
Derivative Financial Instruments
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Income (loss) From Derivatives Not Designated As Hedging Instruments (details)
Derivative Financial Instruments - Narrative (details)
Derivative Financial Instruments - Notional Balances And Fair Values Of Outstanding Positions (details)
Derivative Financial Instruments - Weighted Average Received Received And Paid Interest Rates For Interest Rate Swaps Outstanding (details)
Earnings Per Common Share
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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)
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Income Taxes
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Income Taxes - Narrative (details)
Income Taxes - Summary Of Net Deferred Tax Assets (details)
Loans
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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 - Income On 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)
Recent Accounting Developments
Revenue Recognition
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Revenue Recognition (tables)
Securities
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Securities - Amortized Cost, Related Gross Unrealized Gains And Losses, And Fair Value Of Securities Available-for-sale (details)
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Securities - Carrying Amount And Fair Value Of Held To Maturity Debt Securities And Fair Value Of Available-for-sale Debt Securities (details)
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Legacytexas Financial Group, Inc. provided additional information to their SEC Filing as exhibits

Ticker: LTXB
CIK: 1487052
Form Type: 10-Q Quarterly Report
Accession Number: 0001487052-18-000073
Submitted to the SEC: Wed Apr 25 2018 4:16:48 PM EST
Accepted by the SEC: Wed Apr 25 2018
Period: Saturday, March 31, 2018
Industry: Savings Institution Federally Chartered

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