Legacytexas Financial Group, Inc. (LTXB) 10-Q Quarterly Report Wed Jul 25 2018

PLANO, Texas, July 17, 2018 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $27.8 million for the second quarter of 2018, an increase of $2.1 million from the first quarter of 2018 and a decrease of $98,000 from the second quarter of 2017.

"During the second quarter we continued to grow our customer base and franchise while positioning the Company for improved performance," said President and CEO Kevin Hanigan. "We will soon roll out enhancements to our digital product offerings and a new treasury management platform. We believe our customers, employees and shareholders will all benefit from our focus on building a top-tier performing bank."

Second Quarter 2018 Performance Highlights


•	Company assets of $9.25 billion generated basic earnings per share for the second quarter of 2018 of $0.59 on a GAAP basis and core (non-GAAP) basis.


•	Net interest margin for the second quarter of 2018 improved to 3.93%, up eight basis points from the first quarter of 2018 and up 16 basis points from the second quarter of 2017.


•	Warehouse Purchase Program loans at June 30, 2018 grew $271.3 million from March 31, 2018, while gross loans held for investment, excluding Warehouse Purchase Program loans, grew $102.0 million for the same period.


•	Non-performing loans declined by $30.2 million, or 60.7%, from March 31, 2018, totaling $19.6 million at June 30, 2018. Non-performing loans to total loans held for investment improved to 0.25% at June 30, 2018, compared to 0.66% at March 31, 2018 and 1.29% at June 30, 2017.


•	The Company's efforts to grow non-interest-bearing demand deposits resulted in a linked-quarter increase in these deposits of $40.3 million to $1.72 billion at June 30, 2018. Non-interest-bearing deposits totaled 25.0% of total deposits at June 30, 2018.


•	GAAP efficiency ratio improved to 44.51% for the quarter ended June 30, 2018, compared to 47.95% for the quarter ended March 31, 2018, while return on average assets improved to 1.24% for the quarter ended June 30, 2018, compared to 1.19% for the quarter ended March 31, 2018.

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

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1487052/000148705218000092/ltxb-20180630_10q.htm

View differences made from one quarter to another to evaluate Legacytexas Financial Group, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Legacytexas Financial Group, Inc..

Continue

Assess how Legacytexas Financial Group, Inc.'s management team is paid from their Annual Proxy

Legacytexas Financial Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

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 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-Q Quarterly Report
Accession Number: 0001487052-18-000092
Submitted to the SEC: Wed Jul 25 2018 4:09:49 PM EST
Accepted by the SEC: Wed Jul 25 2018
Period: Saturday, June 30, 2018
Industry: Savings Institution Federally Chartered

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/ltxb/0001487052-18-000092.htm

Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

SEC Filings

LTXB Valuations

LTXB Annual Reports

LTXB Quarterly Reports

LTXB Corporate News