LegacyTexas Financial Group (LTXB) Misses Q1 EPS by 19c

LegacyTexas Financial Group (NASDAQ: LTXB) reported Q1 EPS of $0.52, $0.19 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $78.61 million versus the consensus estimate of $78.54 million.

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.

For earnings history and earnings-related data on LegacyTexas Financial Group (LTXB) click here.

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