Legacytexas Financial Group, Inc. (LTXB) 10-Q Quarterly Report October 2018

PLANO, Texas, October 16, 2018 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced record net income of $42.8 million for the third quarter of 2018, an increase of $15.0 million from the second quarter of 2018 and an increase of $14.1 million from the third quarter of 2017.

"What a fabulous quarter for our company, as we continued to grow our customer base and deliver on our strategic initiatives," said President and CEO Kevin Hanigan. "By delivering what our customers need, we have produced record levels of earnings and return on assets for our shareholders."

Third Quarter 2018 Performance Highlights


•	Assets of $9.08 billion generated basic earnings per share for the third quarter of 2018 of $0.91 on a GAAP basis and $0.92 on a core (non-GAAP) basis.*


•	Non-performing assets totaled $18.3 million at September 30, 2018, a decline of $8.7 million, or 32.2%, from June 30, 2018. Non-performing loans to total loans held for investment improved to 0.22% at September 30, 2018, compared to 0.25% at June 30, 2018 and 0.99% at September 30, 2017.


•	The Company's efforts to grow non-interest-bearing demand deposits resulted in a linked-quarter increase in these deposits of $76.7 million to $1.80 billion at September 30, 2018. Non-interest-bearing deposits totaled 26.5% of total deposits at September 30, 2018.


•	Return on average assets on an annualized basis improved to an all-time high of 1.87% for the quarter ended September 30, 2018, compared to 1.24% for the quarter ended June 30, 2018, while core (non-GAAP) return on average assets for the quarter ended September 30, 2018 was 1.88%, compared to 1.24% for the quarter ended June 30, 2018.*


•	GAAP efficiency ratio improved to a record 42.66% for the quarter ended September 30, 2018, compared to 44.51% for the quarter ended June 30, 2018, while core (non-GAAP) efficiency ratio improved to 42.46% for the quarter ended September 30, 2018, compared to 44.44% for the quarter ended June 30, 2018.*

*See the section labeled "Supplemental Information- Non-GAAP Financial Measures" at the end of this document.

The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, October 16, 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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Financial Statements, Disclosures and Schedules

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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: 0001487052-18-000107
Submitted to the SEC: Wed Oct 24 2018 4:33:53 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Savings Institution Federally Chartered

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

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