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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Legacytexas Financial Group, Inc.

CIK: 1487052 Ticker: LTXB
EXHIBIT 99.1

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FOR IMMEDIATE RELEASE
January 22, 2019
Contact: Investor Inquiries:
Kimberly Whitaker
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 2018 Earnings

PLANO, Texas, January 22, 2019 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $57.8 million for the fourth quarter of 2018, an increase of $14.9 million from the third quarter of 2018 and an increase of $43.1 million from the fourth quarter of 2017. Core (non-GAAP) net income totaled $42.7 million for the fourth quarter of 2018, down $511,000 from the third quarter of 2018 and up $14.5 million from the fourth quarter of 2017.

Net income for the fourth quarters of 2018 and 2017 was impacted by one-time tax adjustments related to the December 22, 2017 enactment of the Tax Cuts and Jobs Act. The 2018 period was positively impacted by a $15.3 million tax benefit related to tax rate changes and the favorable outcome of the Company's change in its tax method of accounting for its loan portfolio, while the 2017 period was negatively impacted by $13.5 million in tax expense related to an adjustment to the Company's deferred tax asset. See “Supplemental Information- Non-GAAP Financial Measures” at the end of this document.

“We are pleased to have closed out 2018 by reporting record earnings of $57.8 million for the fourth quarter,” said President and CEO Kevin Hanigan. “We also had record annual earnings of $154.2 million. Our outstanding financial results reflect the commitment our employees have to the execution of our strategy and to serving the needs of our customers and communities.”

Fourth Quarter 2018 Performance Highlights

Assets of $9.05 billion generated basic earnings per share for the fourth quarter of 2018 of $1.22 on a GAAP basis and $0.91 on a core (non-GAAP) basis.*

GAAP return on average assets improved to an all-time high of 2.61% for the quarter ended December 31, 2018, compared to 1.87% for the quarter ended September 30, 2018, while core (non-GAAP) return on average assets for the quarter ended December 31, 2018 was 1.93%, compared to 1.88% for the quarter ended September 30, 2018.*

GAAP efficiency ratio was 44.39% for the quarter ended December 31, 2018, compared to 42.66% for the quarter ended September 30, 2018, while core (non-GAAP) efficiency ratio was 44.13% for the quarter ended December 31, 2018, compared to 42.46% for the quarter ended September 30, 2018.*

Gross loans held for investment at December 31, 2018, excluding Warehouse Purchase Program loans, grew $26.7 million from September 30, 2018, which includes linked-quarter increases in commercial real estate, consumer real estate and other consumer loans.

Total deposits at December 31, 2018 grew $62.0 million from September 30, 2018, which includes linked-quarter increases in interest-bearing demand and time deposits.

Full Year 2018 Performance Highlights

Net income for the year ended December 31, 2018 totaled $154.2 million, an increase of $64.7 million from the year ended December 31, 2017, while core (non-GAAP) net income totaled $138.4 million for the year ended December 31, 2018, up $36.5 million from the year ended December 31, 2017.*

1

The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, January 22, 2019 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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Inside Legacytexas Financial Group, Inc.'s 10-K Annual Report:

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 - Federal Home Loan Bank ("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 - Contractual Amounts Of Financial Instruments With Off-Balance Sheet Risk (Details)
Commitments And Contingent Liabilities - Narrative (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 - Income (Loss) On 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 And Paid (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)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Securities
Securities (Tables)
Securities - Amortized Cost And Fair Value Of Held-To-Maturity Debt Securities And Fair Value Of Available-For-Sale Debt Securities By Contractual Maturity (Details)
Securities - Amortized Cost, Related Gross Unrealized Gains And Losses, And Fair Value Of Securities Available-For-Sale (Details)
Securities - Amortized Cost, Related Gross Unrealized Gains And Losses, And Fair Value Of Securities Held-To-Maturity (Details)
Securities - Narrative (Details)
Securities - Sales Activity Of Securities (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)
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: 0001487052-19-000013
Submitted to the SEC: Thu Feb 07 2019 11:16:23 AM EST
Accepted by the SEC: Thu Feb 07 2019
Period: Monday, December 31, 2018
Industry: Savings Institution Federally Chartered

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