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Legacytexas Financial Group, Inc. (LTXB) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Legacytexas Financial Group, Inc.

CIK: 1487052 Ticker: LTXB
EXHIBIT 99.1

pressreleaselogo.jpg
FOR IMMEDIATE RELEASE
April 23, 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 First Quarter 2019 Earnings

PLANO, Texas, April 23, 2019 -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the “Company”), the holding company for LegacyTexas Bank (the “Bank”), today announced net income of $29.1 million for the first quarter of 2019, a decrease of $28.7 million from the fourth quarter of 2018 and an increase of $3.3 million from the first quarter of 2018. Core (non-GAAP) net income totaled $29.1 million for the first quarter of 2019, down $13.6 million from the fourth quarter of 2018 and up $4.6 million from the first quarter of 2018.*

Net income for the fourth quarter of 2018 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. See “Supplemental Information- Non-GAAP Financial Measures” at the end of this document.

“We have reported another solid quarter and continue to serve our customers and expand our market share,” said President and CEO Kevin Hanigan. “We look forward to the remainder of the year and are confident we will continue to execute and perform for our customers and shareholders.”

First Quarter 2019 Performance Highlights

Assets of $9.35 billion generated basic earnings per share for the first quarter of 2019 of $0.61 on a GAAP basis and $0.62 on a core (non-GAAP) basis.*

Gross loans held for investment at March 31, 2019, excluding Warehouse Purchase Program loans, grew $154.0 million, or 2.3%, from December 31, 2018, which includes linked-quarter increases in all loan portfolios.

Total deposits at March 31, 2019 grew $235.7 million, or 3.4%, from December 31, 2018, which includes linked-quarter increases in interest-bearing demand, time and savings and money market deposits.

GAAP and core (non-GAAP) return on average assets for the quarter ended March 31, 2019 was 1.31%, compared to GAAP return on average assets of 1.19% and core (non-GAAP) return on average assets of 1.13% for the quarter ended March 31, 2018.*

GAAP and core (non-GAAP) efficiency ratio was 48.66% for the quarter ended March 31, 2019, compared to GAAP efficiency ratio of 47.95% and core (non-GAAP) efficiency ratio of 48.40% for the quarter ended March 31, 2018.*

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

1

The following information was filed by Legacytexas Financial Group, Inc. (LTXB) on Tuesday, April 23, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Legacytexas Financial Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Legacytexas Financial Group, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly 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
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
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 - Carrying Amount And Fair Value Of Financial Instruments Not Recorded At Fair Value (Details)
Fair Value - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Summary Of Net Deferred Tax Assets (Details)
Leases
Leases (Tables)
Leases - Maturity Analysis Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Lease Information (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 - 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
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 - Available-For-Sale Securities With Unrealized Losses (Details)
Securities - Held-To-Maturity Securities With Unrealized Losses (Details)
Securities - Narrative (Details)
Securities - Securities Sales Activity (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Compensation Cost Charged To Income For Share-Based Compensation (Details)
Share-Based Compensation - Summary Of Nonvested Share Activity In Active Stock Plans (Details)
Share-Based Compensation - Unrecognized Compensation Expense (Details)
Subsequent Events

Material Contracts, Statements, Certifications & more

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: 0001487052-19-000077
Submitted to the SEC: Tue Apr 23 2019 12:50:28 PM EST
Accepted by the SEC: Tue Apr 23 2019
Period: Sunday, March 31, 2019
Industry: Savings Institution Federally Chartered

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