Form 8-K Veritex Holdings, Inc. For: Jul 27

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July 27, 2022 7:33 AM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): July 27, 2022

VERITEX HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

Texas

001-36682

27-0973566

(State or other jurisdiction of
incorporation or organization)

(Commission File Number)

(I.R.S. Employer
Identification Number)

8214 Westchester Drive, Suite 800

Dallas, Texas 75225

(Address of principal executive offices)

(972) 349-6200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

VBTX

Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition

On July 27, 2022, Veritex Holdings, Inc. (the “Company”), the holding company for Veritex Community Bank, a Texas state chartered bank, issued a press release describing its results of operations for the quarter ended June 30, 2022. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 (including Exhibit 99.1) of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

On Wednesday, July 27, 2022, at 8:30 a.m., Central Time, the Company will host an investor conference call and webcast to review its second quarter financial results. The webcast will include a slide presentation that consists of information regarding the Company’s operating and growth strategies and financial performance. The presentation materials will be posted on the Company’s website on July 27, 2022. The presentation materials are attached hereto as Exhibit 99.2 and are incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 7.01 (including Exhibit 99.2) of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01 Other Events

On July 27, 2022, the Company issued a press release announcing the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after August 26, 2022 to shareholders of record as of the close of business on August 12, 2022. The press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

Forward Looking Statement

This Current Report on Form 8-K includes “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to Veritex Holdings, Inc.’s (“Veritex”) proposed acquisition of interLINK, including the expected timing of the completion of the acquisition, the ability to complete the acquisition, the ability to obtain any required regulatory or other approvals, authorizations or consents in connection with the acquisition, disruption from the acquisition making it more difficult to maintain relationships with employees, customers or other parties with whom Veritex or interLINK have business relationships, diversion of management time on acquisition-related issues, the reaction to the acquisition of the companies’ customers, employees and counterparties, any statements regarding the plans and objectives of management for future operations, products or services arising from the acquisition, including integration plans, and the treatment of certain deposits via interLINK as not being brokered deposits for any supervisory purpose; the expected payment date of Veritex's quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; the effects of the COVID-19 pandemic and actions taken in response thereto; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2021 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other

filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this Current Report on Form 8-K are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


Exhibit Number						Description
99.1						Press release, dated July 2 7 , 2022
99.2						Presentation materials
99.3						Press release, dated July 2 7 , 2022
104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Veritex Holdings, Inc.

By:						/s/ C. Malcolm Holland, III
						C. Malcolm Holland, III
						Chairman and Chief Executive Officer
Date:						July 27, 2022

Exhibit 99.1

VERITEX HOLDINGS, INC. REPORTS SECOND QUARTER OPERATING RESULTS

Dallas, TX — July 27, 2022 —Veritex Holdings, Inc. (“Veritex”, the “Company”, “we” or “our”) (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the quarter ended June 30, 2022.

“The second quarter of 2022 was another exceptional quarter for our Company, reporting 1.76% in PTPP operating return,” said President and CEO, C. Malcolm C. Holland, III. “We have remained and will remain focused on the positive momentum we have created by investing in talent and focus on scale in two of the strongest and most resilient markets in the U.S.”


	Quarter to Date						Year to Date
Financial Highlights	Q2 2022			Q1 2022				Q2 2022			Q2 2021
	(Dollars in thousands, except per share data) (unaudited)
GAAP
Net income	$	29,626		$	33,470			$	63,096		$	61,243
Diluted EPS	0.54			0.65				1.19			1.22
Book value per common share	26.50			26.86				26.50			25.72
Return on average assets2	1.11		%	1.36		%		1.23		%	1.35		%
Efficiency ratio	50.76			52.84				51.76			51.01
Return on average equity2	8.21			10.00				9.07			9.96
Non-GAAP1
Operating earnings	$	29,855		$	34,014			$	63,869		$	62,165
Diluted operating EPS	0.55			0.66				1.20			1.24
Tangible book value per common share	18.20			18.51				18.20			17.16
Pre-tax, pre-provision operating earnings	47,000			42,265				89,265			78,707
Pre-tax, pre-provision operating return on average assets2	1.76		%	1.71		%		1.74		%	1.74		%
Operating return on average assets2	1.12			1.38				1.24			1.37
Operating efficiency ratio	50.45			52.05				51.22			50.62
Return on average tangible common equity2	12.68			15.84				14.17			16.15
Operating return on average tangible common equity2	12.77			16.08				14.34			16.38

1 Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of these non-generally accepted accounting principles (“”GAAP”) financial measures to their most directly comparable GAAP measures.

2 Annualized ratio.

Other Second Quarter Highlights

•Pre-tax, pre-provision operating return on average assets increased 5 bps from the first quarter of 2022 to 1.76%;

•Non-performing assets (“NPAs”) to total assets decreased to 0.40%, or 6 bps from March 31, 2022, and decreased to 0.40% or 45 bps from June 30, 2021, respectively;

•Net charge-offs to average loans outstanding of 1 basis point for the second quarter of 2022;

•Net interest margin increased to 3.42%, up 20 basis points from the first quarter of 2022;

•Total loans held for investment (“LHI”), excluding mortgage warehouse (“MW”) and paycheck protection program (“PPP”) loans, grew $790.4 million, or 44.4% annualized, during the three months ended June 30, 2022 from $7.1 billion at the end of the first quarter of 2022;

•Total deposits grew $628.1 million, or 31.8% annualized, during the three months ended June 30, 2022 from $7.9 billion at the end of the first quarter of 2022; and

•Declared quarterly cash dividend of $0.20 per share of outstanding common stock payable on August 26, 2022.

Results of Operations for the Three Months Ended June 30, 2022

Net Interest Income

For the three months ended June 30, 2022, net interest income before provision for credit losses was $84.5 million and net interest margin was 3.42% compared to $73.0 million and 3.22%, respectively, for the three months ended March 31, 2022. The $11.4 million increase in net interest income before provision for credit losses was primarily due to a $10.7 million increase in interest income on loans driven by an increase in average balances and loan yields during the three months ended June 30, 2022. Net interest margin increased 20 basis points compared to the three months ended March 31, 2022, primarily due to the increase in yields earned on loans during three months ended June 30, 2022.

Compared to the three months ended June 30, 2021, net interest income before provision for credit losses for the three months ended June 30, 2022 increased by $17.3 million, or 25.8%. The increase was primarily due to a $14.4 million increase in interest income on loans driven by an increase in average balances. The average cost of interest-bearing deposits increased 8 basis points to 0.43% for the three months ended June 30, 2022 from 0.35% for the three months ended June 30, 2021.

Noninterest Income

Noninterest income for the three months ended June 30, 2022 was $10.4 million, a decrease of $4.7 million, or 31.3%, compared to the three months ended March 31, 2022. The decrease was primarily due to a $4.1 million decrease in government guaranteed loan income, net.

Compared to the three months ended June 30, 2021, noninterest income for the three months ended June 30, 2022 decreased by $2.1 million, or 16.7%. The decrease was primarily due to a $2.7 million decrease in government guaranteed loan income, net.

Noninterest Expense

Noninterest expense was $48.2 million for the three months ended June 30, 2022, compared to $46.6 million for the three months ended March 31, 2022, an increase of $1.6 million, or 3.4%. This increase was primarily due to a $1.1 million increase in marketing expenses.

Compared to the three months ended June 30, 2021, noninterest expense for the three months ended June 30, 2022 increased by $6.4 million, or 15.4%. The increase was primarily driven by a $3.5 million increase in salaries and employee benefits as a result of a $3.3 million increase in salaries resulting from continued investment in talent.

Financial Condition

Total LHI, excluding MW and PPP loans, were $7.9 billion at June 30, 2022, an increase of $790.4 million, or 44.4% annualized, compared to March 31, 2022. The increase was the result of the continued execution, and success of our loan growth strategy, including our investment in talent.

Total deposits were $8.5 billion at June 30, 2022, an increase of $628.1 million, or 31.8% annualized, compared to March 31, 2022. The increase was primarily the result of an increase of $319.0 million in interest-bearing transaction and savings deposits, an increase of $181.9 million in noninterest-bearing demand deposits, and an increase of $127.2 million in certificates and other time deposits.

Asset Quality

Nonperforming assets totaled $45.0 million, or 0.40% of total assets at June 30, 2022, compared to $48.0 million, or 0.46% of total assets at March 31, 2022. The Company had net charge-offs of $909 thousand for the quarter, which were fully reserved against in prior quarters under our allowance for credit loss (“ACL”) model.

The Company recorded a provision for credit losses of $9.0 million for the three months ended June 30, 2022, a $500 thousand benefit for credit losses for the three months ended March 31, 2022 and no provision for credit losses for the three months ended June 30, 2021. The recorded provision for credit losses for the three months ended June 30, 2022, compared to the three

months ended March 31, 2022, was primarily attributable to an increase in general reserves as a result of loan growth. For the three months ended June 30, 2022, we recorded no provision for unfunded commitments, which was attributable to stable unfunded balances. ACL as a percentage of LHI, excluding MW and PPP loans, was 1.02%, 1.02% and 1.59% at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

Dividend Information

On July 27, 2022, Veritex’s Board of Directors declared a quarterly cash dividend of $0.20 per share on its outstanding shares of common stock. The dividend will be paid on or after August 26, 2022 to stockholders of record as of the close of business on August 12, 2022.

Non-GAAP Financial Measures

Veritex’s management uses certain non-GAAP (U.S. generally accepted accounting principles) financial measures to evaluate its operating performance and provide information that is important to investors. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Veritex’s reported results prepared in accordance with GAAP. Specifically, Veritex reviews and reports tangible book value per common share, operating earnings, tangible common equity to tangible assets, return on average tangible common equity, pre-tax, pre-provision operating earnings, pre-tax, pre-provision operating return on average assets, diluted operating earnings per share, operating return on average assets, operating return on average tangible common equity and operating efficiency ratio. Veritex has included in this earnings release information related to these non-GAAP financial measures for the applicable periods presented. Please refer to “Reconciliation of Non-GAAP Financial Measures” after the financial highlights at the end of this earnings release for a reconciliation of these non-GAAP financial measures.

Conference Call

The Company will host an investor conference call and webcast to review the results on Wednesday, July 27, 2022, at 8:30 a.m. Central Time. Participants may pre-register for the call by visiting https://edge.media-server.com/mmc/p/r7rx63qg and will receive a unique PIN, which can be used when dialing in for the call.

Participants may also register via teleconference at:

https://register.vevent.com/register/BI70101fb149e640b7a111c50ba9b1bef1. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are instructed to dial-in 15 minutes prior to the start time.

A replay will be available within approximately two hours after the completion of the call, and made accessible for one week. You may access the replay via webcast through the investor relations section of Veritex’s website.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Media and Investor Relations:

investorrelations@veritexbank.com

Forward-Looking Statements

This earnings release includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to Veritex Holdings, Inc.’s (“Veritex”) proposed acquisition of interLINK, including the expected timing of the completion of the acquisition,

the ability to complete the acquisition, the ability to obtain any required regulatory or other approvals, authorizations or consents in connection with the acquisition, disruption from the acquisition making it more difficult to maintain relationships with employees, customers or other parties with whom Veritex or interLINK have business relationships, diversion of management time on acquisition-related issues, the reaction to the acquisition of the companies’ customers, employees and counterparties, any statements regarding the plans and objectives of management for future operations, products or services arising from the acquisition, including integration plans, and the treatment of certain deposits via interLINK as not being brokered deposits for any supervisory purpose; the expected payment date of Veritex’s quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; the effects of the COVID-19 pandemic and actions taken in response thereto; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2021 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this earnings release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)


	For the Quarter Ended															For the Six Months Ended
	Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Jun 30, 2021			Jun 30, 2022			Jun 30, 2021
	(Dollars and shares in thousands)
Per Share Data (Common Stock):
Basic EPS	$	0.55		$	0.66		$	0.84		$	0.75		$	0.60		$	1.21		$	1.24
Diluted EPS	0.54			0.65			0.82			0.73			0.59			1.19			1.22
Book value per common share	26.50			26.86			26.64			26.09			25.72			26.50			25.72
Tangible book value per common share1	18.20			18.51			17.49			17.53			17.16			18.20			17.16
Dividends paid per common share outstanding2	0.20			0.20			0.20			0.20			0.20			0.40			0.37

Common Stock Data:
Shares outstanding at period end	53,951			53,907			49,372			49,229			49,498			53,951			49,498
Weighted average basic shares outstanding for the period	53,949			50,695			49,329			49,423			49,476			52,331			49,435
Weighted average diluted shares outstanding for the period	54,646			51,571			50,441			50,306			50,331			53,121			50,187

Summary of Credit Ratios:
ACL to total LHI, excluding MW and PPP loans	1.02		%	1.02		%	1.15		%	1.42		%	1.59		%	1.02		%	1.59		%
NPAs to total assets	0.40			0.46			0.51			0.77			0.85			0.40			0.85
Net charge-offs to average loans outstanding	0.01			0.07			0.19			0.09			0.09			0.08			0.09

Summary Performance Ratios:
Return on average assets3	1.11			1.36			1.68			1.56			1.27			1.23			1.35
Return on average equity3	8.21			10.00			12.65			11.32			9.42			9.07			9.96
Return on average tangible common equity1, 3	12.68			15.84			20.06			17.72			15.18			14.17			16.15
Efficiency ratio	50.76			52.84			48.53			47.55			52.42			51.76			51.01
Net interest margin	3.42			3.22			3.37			3.26			3.11			3.32			3.16

Selected Performance Metrics - Operating:
Diluted operating EPS1	$	0.55		$	0.66		$	0.84		$	0.70		$	0.60		$	1.20		$	1.24
Pre-tax, pre-provision operating return on average assets1, 2	1.76		%	1.71		%	1.97		%	1.85		%	1.66		%	1.74		%	1.74		%
Operating return on average assets1, 3	1.12			1.38			1.72			1.48			1.29			1.24			1.37
Operating return on average tangible common equity1, 3	12.77			16.08			20.48			16.92			15.42			14.34			16.38
Operating efficiency ratio1	50.45			52.05			47.64			48.51			51.63			51.22			50.62

Veritex Holdings, Inc. Capital Ratios:
Average stockholders' equity to average total assets	13.51		%	13.58		%	13.30		%	13.75		%	13.46		%	13.54		%	13.57		%
Tangible common equity to tangible assets1	9.04			9.98			9.28			9.43			9.51			9.04			9.51
Tier 1 capital to average assets (leverage)	10.14			10.66			9.05			9.54			9.38			10.14			9.38
Common equity tier 1 capital	9.25			9.84			8.58			8.75			9.03			9.25			9.03
Tier 1 capital to risk-weighted assets	9.52			10.14			8.89			9.06			9.36			9.52			9.36
Total capital to risk-weighted assets	11.95			12.73			11.60			12.31			12.86			11.95			12.86

1Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” after the financial highlights for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures.

2Dividend amount represents dividend paid per common share subsequent to each respective quarter end.

3Annualized ratio for quarterly metrics.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands)


	Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Jun 30, 2021
	(unaudited)		(unaudited)				(unaudited)		(unaudited)
ASSETS
Cash and cash equivalents	$	410,716	$	551,573	$	379,784	$	229,712	$	390,027
Debt Securities	1,354,403		1,244,514		1,052,494		1,103,745		1,125,877
Other investments	202,685		188,699		190,591		191,786		87,558

Loans held for sale	14,210		18,721		26,007		18,896		12,065
LHI, PPP loans, carried at fair value	7,339		18,512		53,369		135,842		291,401
LHI, MW	629,291		542,877		565,645		615,045		559,939
LHI, excluding MW and PPP	7,915,792		7,125,429		6,766,009		6,615,905		6,272,087
Total loans	8,566,632		7,705,539		7,411,030		7,385,688		7,135,492
ACL	(80,576)		(72,485)		(77,754)		(93,771)		(99,543)
Bank-owned life insurance	84,097		83,641		83,194		83,781		83,304
Bank premises, furniture and equipment, net	108,769		109,138		109,271		116,063		123,504
Other real estate owned (“OREO”)	1,032		1,062		—		—		2,467
Intangible assets, net of accumulated amortization	59,011		63,986		66,017		54,682		57,143
Goodwill	404,452		404,452		403,771		370,840		370,840
Other assets	193,590		173,561		138,851		129,774		72,856
Total assets	$	11,304,811	$	10,453,680	$	9,757,249	$	9,572,300	$	9,349,525
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing deposits	$	2,947,830	$	2,765,895	$	2,510,723	$	2,302,925	$	2,388,068
Interest-bearing transaction and savings deposits	4,007,250		3,688,292		3,276,312		3,228,306		3,112,974
Certificates and other time deposits	1,562,626		1,435,409		1,576,580		1,647,521		1,477,860
Total deposits	8,517,706		7,889,596		7,363,615		7,178,752		6,978,902
Accounts payable and other liabilities	126,116		105,552		69,160		66,571		55,499
Advances from Federal Home Loan Bank (“FHLB”)	1,000,000		777,522		777,562		777,601		777,640
Subordinated debentures and subordinated notes	228,272		228,018		227,764		262,761		262,766
Securities sold under agreements to repurchase	3,275		4,996		4,069		2,455		1,811
Total liabilities	9,875,369		9,005,684		8,442,170		8,288,140		8,076,618
Commitments and contingencies
Stockholders’ equity:
Common stock	606		605		560		559		558
Additional paid-in capital	1,300,170		1,297,161		1,142,758		1,137,889		1,134,603
Retained earnings	317,664		298,830		275,273		243,633		216,704

Accumulated other comprehensive (loss) income	(21,416)		18,982		64,070		69,661		77,189
Treasury stock	(167,582)		(167,582)		(167,582)		(167,582)		(156,147)
Total stockholders’ equity	1,429,442		1,447,996		1,315,079		1,284,160		1,272,907
Total liabilities and stockholders’ equity	$	11,304,811	$	10,453,680	$	9,757,249	$	9,572,300	$	9,349,525

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands, except per share data)


	For the Quarter Ended										For the Six Months Ended
	Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Jun 30, 2021		Jun 30, 2022		Jun 30, 2021
Interest income:
Loans, including fees	$	82,191	$	71,443	$	74,174	$	71,139	$	67,814	$	153,634	$	135,213
Debt securities	9,632		7,762		9,553		7,613		7,529		17,394		14,966
Deposits in financial institutions and Fed Funds sold	714		262		165		130		167		976		294
Equity securities and other investments	1,057		910		1,004		898		672		1,967		1,335
Total interest income	93,594		80,377		84,896		79,780		76,182		173,971		151,808
Interest expense:
Transaction and savings deposits	4,094		1,751		1,629		1,588		1,661		5,845		3,641
Certificates and other time deposits	1,465		1,380		1,661		1,934		2,423		2,845		5,484
Advances from FHLB	834		1,547		1,847		1,848		1,829		2,381		3,641
Subordinated debentures and subordinated notes	2,721		2,659		3,018		3,134		3,138		5,380		6,276
Total interest expense	9,114		7,337		8,155		8,504		9,051		16,451		19,042
Net interest income	84,480		73,040		76,741		71,276		67,131		157,520		132,766
Provision (benefit) for credit losses	9,000		(500)		(3,349)		—		—		8,500		—
Provision (benefit) for unfunded commitments	—		493		(1,040)		(448)		577		493		7
Net interest income after provisions	75,480		73,047		81,130		71,724		66,554		148,527		132,759
Noninterest income:
Service charges and fees on deposit accounts	5,039		4,710		4,782		4,484		3,847		9,749		7,476
Loan fees	2,385		2,794		2,697		1,746		1,823		5,179		3,164
Loss on sales of investment securities	—		—		—		(188)		—		—		—
Gain on sales of mortgage loans held for sale	223		307		293		407		385		530		892
Government guaranteed loan income, net	789		4,891		3,423		2,341		3,448		5,680		9,996
Equity method investment income	966		367		1,238		4,522		—		1,333		—
Other	976		2,028		3,717		2,315		2,953		3,004		5,100
Total noninterest income	10,378		15,097		16,150		15,627		12,456		25,475		26,628
Noninterest expense:
Salaries and employee benefits	26,924		27,513		25,401		22,964		23,451		54,437		46,383
Occupancy and equipment	4,496		4,517		4,398		4,536		4,233		9,013		8,329
Professional and regulatory fees	2,865		3,158		3,017		3,401		3,086		6,023		6,527
Data processing and software expense	3,386		2,921		2,597		2,494		2,536		6,307		4,855
Marketing	2,306		1,187		1,443		1,151		1,841		3,493		2,750
Amortization of intangibles	2,495		2,495		2,494		2,509		2,517		4,990		5,054
Telephone and communications	352		385		380		380		337		737		674
Merger and acquisition (“M&A”) expense	295		700		826		—		—		995		—


Other	5,034		3,696		4,521		3,886		3,716		8,730		6,742
Total noninterest expense	48,153		46,572		45,077		41,321		41,717		94,725		81,314
Income before income tax expense	37,705		41,572		52,203		46,030		37,293		79,277		78,073
Income tax expense	8,079		8,102		10,697		9,195		7,837		16,181		16,830
Net income	$	29,626	$	33,470	$	41,506	$	36,835	$	29,456	$	63,096	$	61,243

Net income available to common stockholders	$	29,626	$	33,470	$	41,506	$	36,835	$	29,456	$	63,096	$	61,243

Basic EPS	$	0.55	$	0.66	$	0.84	$	0.75	$	0.60	$	1.21	$	1.24
Diluted EPS	$	0.54	$	0.65	$	0.82	$	0.73	$	0.59	$	1.19	$	1.22
Weighted average basic shares outstanding	53,949		50,695		49,329		49,423		49,476		52,331		49,435
Weighted average diluted shares outstanding	54,646		51,571		50,441		50,306		50,331		53,121		50,187

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)


	For the Quarter Ended
	June 30, 2022						March 31, 2022						June 30, 2021
	Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate
	(In thousands, expect percentages)
Assets
Interest-earning assets:
Loans1	$	7,547,564	$	78,234	4.16	%	$	6,872,943	$	68,297	4.03	%	$	6,108,527	$	63,427	4.16	%
LHI, MW	479,187		3,929		3.29		421,680		3,069		2.95		455,334		3,476		3.06
PPP loans	11,402		28		1.00		31,335		77		1.00		364,020		911		1.00
Debt securities	1,318,502		9,632		2.93		1,140,834		7,762		2.76		1,095,678		7,529		2.76
Interest-bearing deposits in other banks	369,847		714		0.77		554,864		262		0.19		548,087		167		0.12
Equity securities and other investments	167,327		1,057		2.53		190,002		910		1.94		87,413		672		3.08
Total interest-earning assets	9,893,829		93,594		3.79		9,211,658		80,377		3.54		8,659,059		76,182		3.53
ACL	(74,268)						(77,843)						(105,050)
Noninterest-earning assets	892,102						865,107						767,270
Total assets	$	10,711,663					$	9,998,922					$	9,321,279

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand and savings deposits	$	3,770,098	$	4,094	0.44	%	$	3,471,645	$	1,751	0.20	%	$	3,191,405	$	1,661	0.21	%
Certificates and other time deposits	1,459,690		1,465		0.40		1,501,852		1,380		0.37		1,515,092		2,423		0.64
Advances from FHLB	828,769		834		0.40		777,538		1,547		0.81		777,655		1,829		0.94
Subordinated debentures and subordinated notes	232,043		2,721		4.70		231,875		2,659		4.65		264,931		3,138		4.75
Total interest-bearing liabilities	6,290,600		9,114		0.58		5,982,910		7,337		0.50		5,749,083		9,051		0.63

Noninterest-bearing liabilities:
Noninterest-bearing deposits	2,870,692						2,591,504						2,266,470
Other liabilities	102,994						67,060						51,355
Total liabilities	9,264,286						8,641,474						8,066,908
Stockholders’ equity	1,447,377						1,357,448						1,254,371
Total liabilities and stockholders’ equity	$	10,711,663					$	9,998,922					$	9,321,279

Net interest rate spread2					3.21	%					3.04	%					2.90	%
Net interest income and margin3			84,480		3.42	%			73,040		3.22	%			67,131		3.11	%

1 Includes average outstanding balances of loans held for sale of $12,112, $12,769 and $14,364 for the three months ended June 30, 2022, March 31, 2022, and June 30, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

VERITEX HOLDINGS, INC. AND SUBSIDIARY

Financial Highlights

(In thousands except percentages)


	Six Months Ended
	June 30, 2022						June 30, 2021
	Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate
Assets
Interest-earning assets:
Loans1	$	7,205,954	$	146,500	4.10	%	$	6,003,754	$	126,128	4.24	%
LHI, WH	450,592		6,998		3.13		482,853		7,292		3.05
PPP loans	27,477		136		1.00		360,209		1,793		1.00
Debt securities	1,230,159		17,394		2.85		1,079,697		14,966		2.80
Interest-bearing deposits in other banks	461,844		976		0.43		445,356		294		0.13
Equity securities and other investments	178,602		1,967		2.22		87,296		1,335		3.08
Total interest-earning assets	9,554,628		173,971		3.67		8,459,165		151,808		3.62
ACL	(76,046)						(105,509)
Noninterest-earning assets	878,679						778,691
Total assets	$	10,357,261					$	9,132,347

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand and savings deposits	$	3,621,697	$	5,845	0.33	%	$	3,115,417	$	3,641	0.24	%
Certificates and other time deposits	1,480,654		2,845		0.39		1,512,479		5,484		0.73
Advances from FHLB	803,295		2,381		0.60		777,675		3,641		0.94
Subordinated debentures and subordinated notes	231,959		5,380		4.68		265,142		6,276		4.77
Total interest-bearing liabilities	6,137,605		16,451		0.54		5,670,713		19,042		0.68

Noninterest-bearing liabilities:
Noninterest-bearing deposits	2,731,869						2,168,396
Other liabilities	85,126						53,823
Total liabilities	8,954,600						7,892,932
Stockholders’ equity	1,402,661						1,239,415
Total liabilities and stockholders’ equity	$	10,357,261					$	9,132,347

Net interest rate spread2					3.13	%					2.94	%
Net interest income and margin3			$	157,520	3.32	%			$	132,766	3.16	%

1 Includes average outstanding balances of loans held for sale of $12,440 and $15,476 for the six months ended June 30, 2022 and June 30, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

Yield Trend


	For the Quarter Ended
	Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Jun 30, 2021
Average yield on interest-earning assets:
Loans1	4.16	%	4.03	%	4.12	%	4.16	%	4.16	%
LHI, MW	3.29		2.95		2.98		3.15		3.06
PPP loans	1.00		1.00		1.00		1.00		1.00
Debt securities	2.93		2.76		3.47		2.70		2.76
Interest-bearing deposits in other banks	0.77		0.19		0.16		0.15		0.12
Equity securities and other investments	2.53		1.94		2.09		2.13		3.08
Total interest-earning assets	3.79	%	3.54	%	3.72	%	3.64	%	3.53	%

Average rate on interest-bearing liabilities:
Interest-bearing demand and savings deposits	0.44	%	0.20	%	0.19	%	0.20	%	0.21	%
Certificates and other time deposits	0.40		0.37		0.41		0.50		0.64
Advances from FHLB	0.40		0.81		0.94		0.94		0.94
Subordinated debentures and subordinated notes	4.70		4.65		4.62		4.70		4.75
Total interest-bearing liabilities	0.58	%	0.50	%	0.54	%	0.59	%	0.63	%

Net interest rate spread2	3.21	%	3.04	%	3.18	%	3.05	%	2.90	%
Net interest margin3	3.42	%	3.22	%	3.37	%	3.26	%	3.11	%

1Includes average outstanding balances of loans held for sale of $12,112, $12,769, $8,987, $8,542 and $14,364 for the three months ended June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

Supplemental Yield Trend


	For the Quarter Ended
	Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Jun 30, 2021
Average cost of interest-bearing deposits	0.43	%	0.26	%	0.26	%	0.30	%	0.35	%
Average costs of total deposits, including noninterest-bearing	0.28		0.17		0.18		0.20		0.23

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

LHI and Deposit Portfolio Composition


	Jun 30, 2022					Mar 31, 2022					Dec 31, 2021					Sep 30, 2021					Jun 30, 2021
	(In thousands, expect percentages)
LHI1

Commercial	$	2,450,403		30.9	%	$	2,125,900		29.8	%	$	2,006,876		29.6	%	$	1,793,740		27.1	%	$	1,771,100		28.2	%

Real Estate:
Owner occupied commercial (“OOCRE”)	646,723			8.2		633,615			8.9		665,537			9.8		711,476			10.7		744,899			11.9
Non-owner occupied commercial (“NOOCRE”)	2,203,970			27.8		2,145,826			30.0		2,120,309			31.3		2,194,438			33.1		1,986,538			31.6
Construction and land	1,532,997			19.3		1,297,338			18.2		1,062,144			15.7		936,174			14.1		871,765			13.9
Farmland	47,319			0.6		48,095			0.7		55,827			0.8		73,550			1.1		13,661			0.2
1-4 family residential	765,260			9.6		604,408			8.5		542,566			8.0		543,518			8.2		513,635			8.2
Multi-family residential	276,632			3.5		272,250			3.8		310,241			4.6		356,885			5.4		367,445			5.9
Consumer	7,520			0.1		9,533			0.1		11,998			0.2		14,266			0.3		10,530			0.1
Total LHI	$	7,930,824		100	%	$	7,136,965		100	%	$	6,775,498		100	%	$	6,624,047		100	%	$	6,279,573		100	%

MW	629,291					542,877					565,645					615,045					559,939
PPP loans	7,339					18,512					53,369					135,842					291,401

Total LHI1	$	8,567,454				$	7,698,354				$	7,394,512				$	7,374,934				$	7,130,913

Deposits
Noninterest-bearing	$	2,947,830		34.6	%	$	2,765,895		35.1	%	$	2,510,723		34.1	%	$	2,302,925		32.1	%	$	2,388,068		34.1	%
Interest-bearing transaction	660,557			7.8		599,580			7.6		579,408			7.9		514,537			7.2		451,307			6.5
Money market	3,217,195			37.8		2,958,790			37.5		2,568,843			34.9		2,585,926			36.0		2,539,061			36.4
Savings	129,498			1.5		129,922			1.6		128,061			1.7		127,843			1.8		122,606			1.8
Certificates and other time deposits	1,562,626			18.3		1,435,409			18.2		1,576,580			21.4		1,647,521			22.9		1,477,860			21.2
Total deposits	$	8,517,706		100	%	$	7,889,596		100	%	$	7,363,615		100	%	$	7,178,752		100	%	$	6,978,902		100	%

Loan to Deposit Ratio	100.6		%			97.6		%			100.4		%			102.7		%			102.2		%

Loan to Deposit Ratio, excluding MW and PPP loans	93.1		%			90.5		%			92.0		%			92.3		%			90.0		%

1 Total LHI does not include deferred fees of $15.0 million, $11.5 million, $9.5 million, $8.1 million and $7.5 million at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

Asset Quality


	For the Quarter Ended															For the Six Months Ended
	Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Jun 30, 2021			Jun 30, 2022			Jun 30, 2021
	(In thousands)
NPAs:
Nonaccrual loans	$	42,242		$	46,680		$	49,687		$	72,317		$	76,994		$	42,242		$	76,994
Accruing loans 90 or more days past due1	1,753			264			441			1,711			462			1,753			462
Total nonperforming loans held for investment (“NPLs”)	43,995			46,944			50,128			74,028			77,456			43,995			77,456
OREO	1,032			1,062			—			—			2,467			1,032			2,467
Total NPAs	$	45,027		$	48,006		$	50,128		$	74,028		$	79,923		$	45,027		$	79,923

Charge-offs:
1-4 family residential	$	—		$	—		$	—		$	(64)		$	(300)		$	—		$	(315)
OOCRE	(244)			(1,341)			(898)			(813)			(689)			(1,585)			(689)
NOOCRE	—			(553)			(7,936)			—			—			(553)			—
Commercial	(528)			(3,294)			(4,114)			(5,508)			(5,608)			(3,822)			(5,954)
Consumer	(1,091)			(134)			(44)			(17)			(20)			(1,225)			(38)
Total charge-offs	(1,863)			(5,322)			(12,992)			(6,402)			(6,617)			(7,185)			(6,996)

Recoveries:
1-4 family residential	3			—			6			26			29			3			32
OOCRE	245			—			—			—			500			245			500
NOOCRE	93			400			—			—			—			493			—
Commercial	572			144			61			596			659			716			885
Consumer	41			9			257			8			36			50			38
Total recoveries	954			553			324			630			1,224			1,507			1,455

Net charge-offs	$	(909)		$	(4,769)		$	(12,668)		$	(5,772)		$	(5,393)		$	(5,678)		$	(5,541)



ACL	$	80,576		$	72,485		$	77,754		$	93,771		$	99,543		$	80,576		$	99,543



Asset Quality Ratios:
NPAs to total assets	0.40		%	0.46		%	0.51		%	0.77		%	0.85		%	0.40		%	0.85		%
NPLs to total LHI, excluding MW and PPP loans	0.55			0.66			0.74			1.12			1.23			0.55			1.23
ACL to total LHI, excluding MW and PPP loans	1.02			1.02			1.15			1.42			1.59			1.02			1.59
Net charge-offs to average loans outstanding	0.01			0.07			0.19			0.09			0.09			0.08			0.09

1 Accruing loans greater than 90 days past due exclude purchase credit deteriorated loans greater than 90 days past due that are accounted for on a pooled basis.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

We identify certain financial measures discussed in this earnings release as being “non-GAAP financial measures.” In accordance with SEC rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles as in effect from time to time in the United States (“GAAP”), in our statements of income, balance sheets or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios calculated using exclusively either one or both of (i) financial measures calculated in accordance with GAAP and (ii) operating measures or other measures that are not non-GAAP financial measures.

The non-GAAP financial measures that we present in this earnings release should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that we present in this earnings release may differ from that of other companies reporting measures with similar names. You should understand how such other financial institutions calculate their financial measures that appear to be similar or have similar names to the non-GAAP financial measures we have discussed in this earnings release when comparing such non-GAAP financial measures.

Tangible Book Value Per Common Share. Tangible book value is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity less goodwill and core deposit intangibles, net of accumulated amortization; and (b) tangible book value per common share as tangible common equity (as described in clause (a)) divided by number of common shares outstanding. For tangible book value per common share, the most directly comparable financial measure calculated in accordance with GAAP is book value per common share.

We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing total book value while not increasing our tangible book value.

The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and presents our tangible book value per common share compared with our book value per common share:


	As of
	Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Jun 30, 2021
	(Dollars in thousands, except per share data)
Tangible Common Equity
Total stockholders' equity	$	1,429,442	$	1,447,996	$	1,315,079	$	1,284,160	$	1,272,907
Adjustments:
Goodwill	(404,452)		(404,452)		(403,771)		(370,840)		(370,840)
Core deposit intangibles	(43,122)		(45,560)		(47,998)		(50,436)		(52,873)
Tangible common equity	$	981,868	$	997,984	$	863,310	$	862,884	$	849,194
Common shares outstanding	53,951		53,907		49,372		49,229		49,498

Book value per common share	$	26.50	$	26.86	$	26.64	$	26.09	$	25.72
Tangible book value per common share	$	18.20	$	18.51	$	17.49	$	17.53	$	17.16

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Tangible Common Equity to Tangible Assets. Tangible common equity to tangible assets is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity, less goodwill and core deposit intangibles, net of accumulated amortization; (b) tangible assets as total assets less goodwill and core deposit intangibles, net of accumulated amortization; and (c) tangible common equity to tangible assets as tangible common equity (as described in clause (a)) divided by tangible assets (as described in clause (b)). For tangible common equity to tangible assets, the most directly comparable financial measure calculated in accordance with GAAP is total stockholders’ equity to total assets.

We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period in common equity and total assets, in each case, exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing both total stockholders’ equity and assets while not increasing our tangible common equity or tangible assets.

The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and total assets to tangible assets and presents our tangible common equity to tangible assets:


	As of
	Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Jun 30, 2021
	(Dollars in thousands)
Tangible Common Equity
Total stockholders' equity	$	1,429,442		$	1,447,996		$	1,315,079		$	1,284,160		$	1,272,907
Adjustments:
Goodwill	(404,452)			(404,452)			(403,771)			(370,840)			(370,840)
Core deposit intangibles	(43,122)			(45,560)			(47,998)			(50,436)			(52,873)
Tangible common equity	$	981,868		$	997,984		$	863,310		$	862,884		$	849,194
Tangible Assets
Total assets	$	11,304,811		$	10,453,680		$	9,757,249		$	9,572,300		$	9,349,525
Adjustments:
Goodwill	(404,452)			(404,452)			(403,771)			(370,840)			(370,840)
Core deposit intangibles	(43,122)			(45,560)			(47,998)			(50,436)			(52,873)
Tangible Assets	$	10,857,237		$	10,003,668		$	9,305,480		$	9,151,024		$	8,925,812
Tangible Common Equity to Tangible Assets	9.04		%	9.98		%	9.28		%	9.43		%	9.51		%

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Return on Average Tangible Common Equity. Return on average tangible common equity is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) net income available for common stockholders adjusted for amortization of core deposit intangibles (which we refer to as “return”) as net income, plus amortization of core deposit intangibles, less tax benefit at the statutory rate; (b) average tangible common equity as total average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization; and (c) return (as described in clause (a)) divided by average tangible common equity (as described in clause (b)). For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity.

We believe that this measure is important to many investors in the marketplace who are interested in the return on common equity, exclusive of the impact of core deposit intangibles. Goodwill and core deposit intangibles have the effect of increasing total stockholders’ equity while not increasing our tangible common equity. This measure is particularly relevant to acquisitive institutions that may have higher balances in goodwill and core deposit intangibles than non-acquisitive institutions.

The following table reconciles, as of the dates set forth below, average tangible common equity to average common equity and net income available for common stockholders adjusted for amortization of core deposit intangibles, net of taxes to net income and presents our return on average tangible common equity:


	For the Quarter Ended															For the Six Months Ended
	June 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Jun 30, 2021			June 30, 2022			June 30, 2021
	(Dollars in thousands)
Net income available for common stockholders adjusted for amortization of core deposit intangibles
Net income	$	29,626		$	33,470		$	41,506		$	36,835		$	29,456		$	63,096		$	61,243
Adjustments:
Plus: Amortization of core deposit intangibles	2,438			2,438			2,438			2,438			2,438			4,876			4,885
Less: Tax benefit at the statutory rate	512			512			512			512			512			1,024			1,026
Net income available for common stockholders adjusted for amortization of core deposit intangibles	$	31,552		$	35,396		$	43,432		$	38,761		$	31,382		$	66,948		$	65,102

Average Tangible Common Equity
Total average stockholders' equity	$	1,447,377		$	1,357,448		$	1,301,676		$	1,290,528		$	1,254,371		$	1,402,661		$	1,239,415
Adjustments:
Average goodwill	(404,452)			(404,014)			(393,220)			(370,840)			(370,840)			(404,234)			(370,840)
Average core deposit intangibles	(44,720)			(47,158)			(49,596)			(52,043)			(54,471)			(45,932)			(55,685)
Average tangible common equity	$	998,205		$	906,276		$	858,860		$	867,645		$	829,060		$	952,495		$	812,890
Return on Average Tangible Common Equity (Annualized)	12.68		%	15.84		%	20.06		%	17.72		%	15.18		%	14.17		%	16.15		%

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Operating Earnings, Pre-tax, Pre-provision Operating Earnings and performance metrics calculated using Operating Earnings and Pre-tax, Pre-provision Operating Earnings, including Diluted Operating Earnings per Share, Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Assets, Operating Return on Average Tangible Common Equity and Operating Efficiency Ratio. Operating earnings, pre-tax, pre-provision operating earnings and the performance metrics calculated using these metrics, listed below, are non-GAAP measures used by management to evaluate the Company’s financial performance. We calculate (a) operating earnings as net income plus severance payments, plus loss on sale of debt securities AFS, net, less Thrive PPP loan forgiveness income, plus M&A expenses, less tax impact of adjustments, plus nonrecurring tax adjustments. We calculate (b) diluted operating earnings per share as operating earnings as described in clause (a) divided by weighted average diluted shares outstanding. We calculate (c) pre-tax, pre-provision operating earnings as operating earnings as described in clause (a) plus provision for income taxes, plus provision (benefit) for credit losses and unfunded commitments. We calculate (d) pre-tax, pre-provision operating return on average assets as pre-tax, pre-provision operating earnings as described in clause (a) divided by total average assets. We calculate (e) operating return on average assets as operating earnings as described in clause (a) divided by total average assets. We calculate (f) operating return on average tangible common equity as operating earnings as described in clause (a), adjusted for the amortization of intangibles and tax benefit at the statutory rate, divided by total average tangible common equity (average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization). We calculate (g) operating efficiency ratio as non interest expense plus adjustments to operating non interest expense divided by non interest income plus adjustments to operating non interest income, plus net interest income.

We believe that these measures and the operating metrics calculated utilizing these measures are important to management and many investors in the marketplace who are interested in understanding the ongoing operating performance of the Company and provide meaningful comparisons to its peers.

The following tables reconcile, as of the dates set forth below, operating net income and pre-tax, pre-provision operating earnings and related metrics:


	For the Quarter Ended										For the Six Months Ended
	June 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Jun 30, 2021		June 30, 2022		June 30, 2021
	(Dollars in thousands)
Operating Earnings
Net income	$	29,626	$	33,470	$	41,506	$	36,835	$	29,456	$	63,096	$	61,243

Plus: Severance payments1	—		—		—		—		627		—		627

Plus: Loss on sale of debt securities AFS, net	—		—		—		188		—		—		—
Less: Thrive PPP loan forgiveness income2	—		—		—		1,912		—		—		—
Plus: M&A expenses	295		700		826		—		—		995		—
Operating pre-tax income	29,921		34,170		42,332		35,111		30,083		64,091		61,870
Less: Tax impact of adjustments	66		156		(78)		39		131		222		131


Plus: Nonrecurring tax adjustments3	—		—		—		—		—		—		426
Operating earnings	$	29,855	$	34,014	$	42,410	$	35,072	$	29,952	$	63,869	$	62,165

Weighted average diluted shares outstanding	54,646		51,571		50,441		50,306		50,331		53,121		50,187
Diluted EPS	$	0.54	$	0.65	$	0.82	$	0.73	$	0.59	$	1.19	$	1.22
Diluted operating EPS	$	0.55	$	0.66	$	0.84	$	0.70	$	0.60	1.20		1.24

1 Severance payments relate to branch restructurings made during the three months ended June 30, 2021.

2 During the third quarter of 2021, Thrive’s PPP loan with another bank was 100% forgiven by the Small Business Administration. As a result of our 49% investment in Thrive, the $1.9 million represents our portion of the PPP loan forgiveness. PPP fee income is not taxable and as such has no tax impact.

3 A nonrecurring tax adjustment of $426 thousand recorded in the first quarter of 2021 was due to a true-up of a deferred tax liability.


	For the Quarter Ended															For the Six Months Ended
	June 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Jun 30, 2021			June 30, 2022			June 30, 2021
	(Dollars in thousands)
Pre-Tax, Pre-Provision Operating Earnings
Net income	$	29,626		$	33,470		$	41,506		$	36,835		$	29,456		$	63,096		$	61,243
Plus: Provision for income taxes	8,079			8,102			10,697			9,195			7,837			16,181			16,830
Plus: Provision (benefit) for credit losses and unfunded commitments	9,000			(7)			(4,389)			(448)			577			8,993			7
Plus: Severance payments	—			—			—			—			627			—			627

Plus: Loss on sale of AFS securities, net	—			—			—			188			—			—			—
Less: Thrive PPP loan forgiveness income	—			—			—			1,912			—						—
Plus: M&A expenses	295			700			826			—			—			995			—
Pre-tax, pre-provision operating earnings	$	47,000		$	42,265		$	48,640		$	43,858		$	38,497		$	89,265		$	78,707

Average total assets	$	10,711,663		$	9,998,922		$	9,788,671		$	9,385,470		$	9,321,279		$	10,357,261		$	9,132,347
Pre-tax, pre-provision operating return on average assets1	1.76		%	1.71		%	1.97		%	1.85		%	1.66		%	1.74		%	1.74		%

Average total assets	$	10,711,663		$	9,998,922		$	9,788,671		$	9,385,470		$	9,321,279		$	10,357,261		$	9,132,347
Return on average assets1	1.11		%	1.36		%	1.68		%	1.56		%	1.27		%	1.23		%	1.35		%
Operating return on average assets1	1.12			1.38			1.72			1.48			1.29			1.24			1.37

Operating earnings adjusted for amortization of core deposit intangibles
Operating earnings	$	29,855		$	34,014		$	42,410		$	35,072		$	29,952		$	63,869		$	62,165
Adjustments:
Plus: Amortization of core deposit intangibles	2,438			2,438			2,438			2,438			2,438			4,876			4,885
Less: Tax benefit at the statutory rate	512			512			512			512			512			1,024			1,026
Operating earnings adjusted for amortization of core deposit intangibles	$	31,781		$	35,940		$	44,336		$	36,998		$	31,878		$	67,721		$	66,024

Average Tangible Common Equity
Total average stockholders' equity	$	1,447,377		$	1,357,448		$	1,301,676		$	1,290,528		$	1,254,371		$	1,402,661		$	1,239,415
Adjustments:
Less: Average goodwill	(404,452)			(404,014)			(393,220)			(370,840)			(370,840)			(404,234)			(370,840)
Less: Average core deposit intangibles	(44,720)			(47,158)			(49,596)			(52,043)			(54,471)			(45,932)			(55,685)
Average tangible common equity	$	998,205		$	906,276		$	858,860		$	867,645		$	829,060		$	952,495		$	812,890
Operating return on average tangible common equity1	12.77		%	16.08		%	20.48		%	16.92		%	15.42		%	14.34		%	16.38		%

Efficiency ratio	50.76		%	52.84		%	48.53		%	47.55		%	52.42		%	51.76		%	51.01		%

Net interest income	$	84,480		$	73,040		$	76,741		$	71,276		$	67,131		$	157,520		$	132,766
Noninterest income	10,378			15,097			16,150			15,627			12,456			25,475			26,628
Plus: Loss on sale of AFS securities, net	—			—			—			188			—			—			—
Less: Thrive PPP loan forgiveness income	—			—			—			1,912			—			—			—
Operating noninterest income	10,378			15,097			16,150			13,903			12,456			25,475			26,628
Noninterest expense	48,153			46,572			45,077			41,321			41,717			94,725			81,314
Less: Severance payments	—			—			—			—			627			—			627
Less: M&A expenses	295			700			826			—			—			995			—
Operating noninterest expense	$	47,858		$	45,872		$	44,251		$	41,321		$	41,090		$	93,730		$	80,687
Operating efficiency ratio	50.45		%	52.05		%	47.64		%	48.51		%	51.63		%	51.22		%	50.62		%

1 Annualized ratio for quarterly metrics.

7/26/2022 17/26/2022 1 TRUTH | INTEGRITY | TRANSPARENCY Second Quarter Exhibit 99.2

2 Safe Harbor and Non-GAAP Measures Forward-looking statements This presentation includes “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to Veritex Holdings, Inc.’s (“Veritex”) proposed acquisition of interLINK, including the expected timing of the completion of the acquisition, the ability to complete the acquisition, the ability to obtain any required regulatory or other approvals, authorizations or consents in connection with the acquisition, disruption from the acquisition making it more difficult to maintain relationships with employees, customers or other parties with whom Veritex or interLINK have business relationships, diversion of management time on acquisition-related issues, the reaction to the acquisition of the companies’ customers, employees and counterparties, any statements regarding the plans and objectives of management for future operations, products or services arising from the acquisition, including integration plans, and the treatment of certain deposits via interLINK as not being brokered deposits for any supervisory purpose; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; the effects of the COVID-19 pandemic and actions taken in response thereto; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2022 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue. This presentation also includes industry and trade association data, forecasts and information that Veritex has prepared based, in part, upon data, forecasts and information obtained from independent trade associations, industry publications and surveys, government agencies and other information publicly available to Veritex, which information may be specific to particular markets or geographic locations. Some data is also based on Veritex's good faith estimates, which are derived from Veritex management's knowledge of the industry, markets and independent sources. Industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Veritex believes these sources are reliable, Veritex has not independently verified the information contained therein. While Veritex is not aware of any misstatements regarding the industry data, forecasts and information included in this presentation, such data forecasts, and information and Veritex's estimates based thereon involve risks, assumptions and uncertainties and are subject to change based on various factors. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise such data forecasts, and information and Veritex's estimates based thereon, whether as a result of new information, future developments or otherwise, except as required by law. Non-GAAP Financial Measures This presentation contains certain non-GAAP (generally accepted accounting principles) financial measures, including tangible book value per common share (“TBVPS”), tangible common equity to tangible assets, return on average tangible common equity (“ROATCE”), operating earnings, pre-tax, pre-provision (“PTPP”) operating earnings, diluted operating earnings per shares (“EPS”), operating return on average assets (“ROAA”), PTPP operating ROAA, Operating ROATCE, operating efficiency ratio, operating noninterest income, operating noninterest expense and adjusted net interest margin (“NIM”). Veritex’s management uses these non-GAAP financial measures to evaluate its operating performance and provide information that is important to investors. The non-GAAP financial measures that Veritex discusses in this presentation should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.

3                Truth in Texas Banking Dallas / Ft. Worth Houston (33) Branches $11.3 Billion in assets $8.6 Billion in loans $8.5 Billion in deposits $1.6 Billion market cap Financial metrics as of June 30, 2022; market cap as of July 26, 2022. Veritex Holdings, Inc. Franchise Overview

4 Strong, Resilient Texas Market Our platform is powered by the Texas markets we serve Source: Bureau of Labor Statistics; Dallas Chamber of Commerce; Greater Houston Partnership; YTexas; Houston.org; S&P Global Market Intelligence

5 Second Quarter 2022 Highlights Financial Highlights ($M) Q2 2022 Q1 2022 Q2 2021 Net Interest Income $84.5 $73.0 $67.1 Non-Interest Revenue 10.4 15.1 12.5 Total Revenue 94.9 88.1 79.6 Non-Interest Expense 48.2 46.5 41.7 PTPP 46.7 41.6 37.9 Provision for Credit Losses 9.0 - 0.6 Income Tax Expense 8.1 8.1 7.8 Net Income 29.6 33.5 29.5 Key Performance Metrics Diluted EPS / Operating ($) 0.54 / 0.55 0.65 / 0.66 0.59 / 0.60 BVPS / TBVPS ($) 26.49 / 18.20 26.86 / 18.51 25.72 / 17.16 ROAA / Operating (%) 1.11 / 1.12 1.36 / 1.38 1.27 / 1.29 Efficiency Ratio / Operating (%) 50.76 / 50.45 52.84 / 52.05 52.42 / 51.63 ROATCE / Operating ROATCE (%) 12.68 / 12.77 15.84 / 16.08 15.18 /15.42 Growth Momentum ◊ Total loans held for investment (“LHI”), excluding mortgage warehouse (“MW”) and Paycheck Protection Program (“PPP”) loans, increased $790.4 million, or 44.4% annualized ◊ Total deposits grew $628.1 million, or 31.8% annualized Strong Balance Sheet ◊ Total capital of $1.3 billion; up $36 million in 2Q22 ◊ Non-performing assets (“NPAs”) to total assets decreased to 0.40%, or 6 bps, from 1Q22 ◊ Net charge-offs of $909 thousand ◊ Net charge-offs to average loans outstanding of 1 bp during 2Q22 and 8bps for 2022 year to date ◊ Improved balance sheet liquidity and funding profile with the pending interLINK acquisition ◊ Declared a $0.20 quarterly dividend ◊ Common stock offering completed on March 3, 2022 providing net proceeds of ~$153.8 million and improving regulatory capital levels Profitability ◊ Operating earnings of $29.9 million, or $0.55 per diluted share ◊ PTPP ROAA of 1.76% ◊ Q2 year over year positive operating leverage of 4.5% on revenue growth of 19.2% ◊ Net interest margin increased to 3.42%, up 20 bps ◊ Net interest income up 16% quarter over quarter

6 Key Financial Metrics 52.84% 51.63% 48.51% 47.64% 52.05% 50.45% 2Q21 3Q21 4Q21 1Q22 2Q22 Reported Operating $17.16 $17.53 $17.49 $18.51 $18.20 2Q21 3Q21 4Q21 1Q22 2Q22 15.2% 17.7% 20.1% 15.8% 12.7% 2Q21 3Q21 4Q21 1Q22 2Q22 ROATCE Operating ROATCE ($ in millions) $79.9 $74.0 $50.1 $48.0 $45.0 0.85% 0.77% 0.51% 0.46% 0.40% -0.1% 0.1% 0.3% 0.5% 0.7% 0.9% 1.1% 2Q21 3Q21 4Q21 1Q22 2Q22 NPAs NPAs/Total Assets 1 11 11 1 52.42% 50.76% 16.9% 15.4% 20.5% 47.55% 16.1% 48.53% $0.59 $0.73 $0.82 $0.65 $0.54 $0.60 $0.70 $0.84 $0.66 $0.55 2Q21 3Q21 4Q21 1Q22 2Q22 Diluted EPS Diluted Operating EPS 1 Please refer to the “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation for a description and reconciliation of these non-GAAP financial measures 12.8% TBVPS ROATCE Diluted EPS ($) PTPP ROAA Efficiency Ratio NPAs / Total Assets $38.5 $43.9 $48.6 $42.3 1.66% 1.85% 1.97% 1.71% 1.76% 0.0% 0.5% 1.0% 1.5% 2.0% 2Q21 3Q21 4Q21 1Q22 2Q22 PTPP Operating Earnings PTPP Operating ROAA $47.0

7 Disciplined Lending in Growing Texas Market 31% 28% 12% 8% 30% 31% 11% 19% 10% 10% 6% 3% $5.7 $5.9 $5.7 $5.8 $5.9 $6.0 $6.3 $6.6 $6.8 $7.1 $7.9 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 NOOCRE OOCRE Commercial Construction 1-4 Fam Multi Fam Other (<1%) CAGR: 14.0% Ex-Mortgage Warehouse and PPP Pandemic-Era Loan Growth ($B) Quarter over Quarter Loan Growth ($B) Growth: +11.3%

8 Disciplined Lending in Growing Texas Market $2.02 Billion $0.0 $0.5 $1.0 $1.5 $2.0 Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec 2022 Unfunded 2021 Unfunded CRE ADC Construction LOC Current Unfunded (Non-Revolving) QOQ Growth by Portfolio 4,382 13,108 58,144 86,414 160,852 235,659 324,503 Multifamily OOCRE NOOCRE MW 1-4 Family Resi Construction and land Commercial and Industrial ($ in thousands)

9 Prudent Underwriting for Growth

10 $71.3 $76.7 $73.0 $84.5 3.11% 3.26% 3.37% 3.22% 3.42% 3.03% 3.16% 3.31% 3.15% 3.37% 2Q21 3Q21 4Q21 1Q22 2Q22 Net Interest Income ("NII") NIM Adjusted NIM (Excludes All Purchase Accounting) $66.8 $8.7 $9.0 $9.2 2Q21 3Q21 4Q21 1Q22 2Q22 Average Earning Assets $8.7 $9.9 ($ in billions)($ in millions) 1Q22 Net Interest Income $73,040 Impact of growth 7,435 Impact of rate changes 2,438 Change due to day count 928 Change in earning asset mix and other 639 2Q22 Net Interest Income $84,480 14+% ($ in thousand) Quarter ending earning assets $10.5 Average Earnings Assets Net Interest Income Rollforward Interest Rate Sensitivity Growing Net Interest Income Interest Rate Scenario Forecasted Net Interest Income ($ in millions) Percentage Change From Base Forecasted Net Interest Margin Forecasted Net Interest Margin Change from Base Up 300 bps 466.1$ 15.02% 4.38% 14.66% Up 200 bps 445.7$ 10.01% 4.20% 9.95% Up 100 bps 425.5$ 4.99% 4.01% 4.97% BASE CASE 405.2$ 0.00% 3.82% 0.00% Down 100 bps 384.7$ -5.06% 3.63% -4.97% Down 200 bps 362.8$ -10.47% 3.42% -10.47% Base case above is static balances applying forward rate curve as of June 30, 2022.

11 Loan Yields Debt Investment Yields Variable and Hybrid Loans by Index Interest Rate Components of Loans and Investments 2.76% 2.70% 2.74% 2.76% 2.93% 2Q21 3Q21 4Q21 1Q22 2Q22 1 1 Excludes $2.1 million of prepayment penalty income on debt securities during 4Q21. 4.16% 4.16% 4.12% 4.03% 4.16% 2Q21 3Q21 4Q21 1Q22 2Q22 26% 4% 70% Loan Portfolio by Repricing Type Fixed Variable Hybrid 5 quarter loan yield trend, excluding MW and PPP 5 quarter investment yield trend, excluding prepayments Variable and Hybrid Loans by Rate Index Amount (in milions) % of Variable and Hyrbrid Loans 1-Month LIBOR 2,959.6$ 47.9% 12-Month LIBOR 321.8$ 5.2% SOFR 1,339.6$ 21.7% Prime Rate 1,547.2$ 25.0% Other 8.4$ 0.1% Total Variable and Hybrid Loans 6,176.6$ 100.0%

12 8% 49% 23%9% 9% 2% Equity Method Income Loan Fees Service Charges & Fees on Deposit Accounts $10.4 MILLION Govt. Guar. Loan Income Operating Noninterest Income ◊ Equity method investment income increased 163% driven by higher 2Q ‘22 income on our investment in Thrive ◊ Other income decreased 52% primarily due to $1.3 million in service asset valuation adjustments taken during 2Q ’22 slightly offset by a $688 thousand increase in derivative income ◊ Government guaranteed loan income, net, decreased 84% primarily due to a $3.5 million decrease in gains on sold USDA loans 2Q22 / 1Q22 Comparison 5 2Q22 Noninterest Income Composition Other Gain on MLHFS $4,710 $5,039 $2,794 $2,385 $367 $966 $4,891 $789 $2,028 $976 $307 $233 1Q22 2Q22 Service Charges & Fees on Deposit Accounts Loan Fees Equity Method Invst. Govt. Guaranteed Loan Income Other Gain on MLHFS $15,097 $10,378

13 $130 $389 $146 Underwriting Term Sheet Issued Prospects ($ in millions) USDA Pipeline $665M Gain on Sale % Total Volume $786.2 $797.9 $667.0 $544.8 $651.5 2Q21 3Q21 4Q21 1Q22 2Q22 3.62% 3.80% 3.60% 3.45% 3.47% 2Q21 3Q21 4Q21 1Q22 2Q22 ($ in millions) (Investment completed on July 19, 2021) Government Guaranteed and Thrive 5 Thrive Mortgage, LLC 5 Government Guaranteed Thrive’s retail channel increased 7% from May to June and decreased 15% year over year compared to the industry1 which reported a 5% decrease from May to June and 48% decrease year over year. 1 Source: Curinos SBA Pipeline $7.3 $11.6 $8.7 $20.1 $22.8 In Process In Underwriting In Closing Closed in 2022 Advancing Loans $70.5M ◊ Current USDA funding facts: Demand for B&I loan guarantees are greater than the amount of funding available and the USDA discontinued allocating funds on an as-requested basis and is awarding funds on a monthly basis. Funding is based on the project priority score according in the B&I project priority point system with unfunded requests carried to the following months funding cycle ◊ Premium compression down 40%-50% due to rising rates and economic uncertainty ◊ Servicing asset valuation allowance of $1.3 million booked in 2Q22 driven by higher interest rates and the outlook for additional Federal Reserve rate hikes

14 Operating Noninterest Expense ◊ Other expenses increased $1.3 million, of 18%, primarily due to a $1.2 million increase in loan-related legal and collection expenses ◊ Marketing expenses increased $1.1 million, or 94%, primarily due to increases in advertising and community reinvestment act donations during 2Q ‘22 2Q22 / 1Q22 Comparison 5 2Q22 Noninterest Expense Composition 56% 11% 9% 7% 6% 5% 5% 1% $47.9 MILLION Salary and Employee Benefits Other Occupancy and Equipment Data Processing Prof. Fees Amort. of Intang. Marketing $27,513 $26,924 $4,081 $5,386 $4,517 $4,496 $2,921 $3,386 $3,158 $2,865 $2,495 $2,495 $1,187 $2,306 1Q22 2Q22 Salary and Employee Benefits Other Occupancy and Equip. Data Processing Prof. Fees Amort. Of Intang. Marketing $45,872 $47,858

15 0.35% 0.30% 0.26% 0.26% 0.43% 0.23% 0.20% 0.18% 0.17% 0.28% 2Q21 3Q21 4Q21 1Q22 2Q22 Average cost of interest-bearing deposits Average cost of total deposits ◊ Total deposit balances increased $628.1 million, or 31.8% last quarter annualized (“LQA”), and increased $1.5 billion, or 22% YOY ◊ Excluding MW and PPP loans, the loan to deposit ratio was 93.1% at June 30, 2022 $3,113 $3,688 $4,007 $2,388 $2,766 $2,948 $1,478 $1,435 $1,563 2 Q 2 1 1 Q 2 2 2 Q 2 2 Interest Bearing Non-Int Bearing Certificates & Time Deposits 47% 35% 18% $8,518 $7,890 $6,979 LQA YOY Demand & Savings +35% +29% Non-Int Bearing +26% +23% Certificates and Time Deposits +35% +6% ($ in millions) Deposit Growth 5 Deposit Composition 5 Cost of Interest-bearing Deposits and Total Deposits

16 9.03% 9.84% 9.25% 2Q21 1Q22 2Q22 CET1 Total Capital 12.86% 12.73% 11.95% 2Q21 1Q22 2Q22 Regulatory Minimum + Capital Conservation Buffer 7.0% 10.5% - Support organic growth - Maintain strong debt ratings - Provide attractive dividend - Strategic growth, including M&A Strong Capital Supporting Fortress Balance Sheet Capital Levels TBVPS Capital Priorities 8.00% 6.00% 4.50% 10.50% 8.50% 7.00% Total Capital Tier 1 Capital CET1 Capital Minimum Capital Conservation Buffer Veritex 11.95% 9.52% 9.25% Capital in Excess of Buffer $247.0 $112.0 $159.1 ($ in millions) $0.56 $0.05 $0.03 $0.02 3/31/2022 Net Income SBC Expense CDI Amort. RSU Vesting Hedge AOCI Dividend AFS AOCI 6/30/2022 $18.51 $(0.20) $18.20 $(0.60) $(0.17)

171 Past due loans exclude purchased credit deteriorated loans that are accounted for on a pooled basis and non-accrual loans. 2 Total loans excludes Loans Held for Sale, MW and PPP loans. 2Q21 3Q21 4Q21 1Q22 2Q22 0.00% 0.10% 0.20% 0.30% 0.40% 30-59 Past Due 60-89 Past Due 90+ Past Due 2Q21 3Q21 4Q21 1Q22 2Q22 Originated $1,269 $120 $2,921 $- $298 Acquired $4,124 $5,652 $9,747 $4,769 $611 ($ in thousands) ($ in millions) $388.5 $373.4 $347.7 $340.9 $330.1 2Q21 3Q21 4Q21 1Q22 2Q22 $100 $200 $300 $400 $500 Criticized Loans ($ in millions, excludes PCD loans) Totals: $10,017 $16,508 $9,997 $16,921 $7,373 (15%) $7,015 1Q22 Charge-offs Specific Impairments Change in Economic Factors Net Growth 2Q22 Improving Asset Quality and ACL Past Due Trend1 % of Total Loans2 Net Charge-offs Quarterly Criticized Loans ACL / Total Loans2

7/26/2022 187/26/2022 18 TRUTH | INTEGRITY | TRANSPARENCY Supplemental Information

19 Reconciliation of Non-GAAP Financial Measures

20 Reconciliation of Non-GAAP Financial Measures

21 Reconciliation of Non-GAAP Financial Measures

22 Reconciliation of Non-GAAP Financial Measures

23 Reconciliation of Non-GAAP Financial Measures

7/26/2022 247/26/2022 24 TRUTH | INTEGRITY | TRANSPARENCY Second Quarter

Exhibit 99.3

PRESS RELEASE

FOR IMMEDIATE RELEASE

Veritex Holdings, Inc. Declares Cash Dividend on Common Stock

Dallas, TX – July 27, 2022 – Veritex Holdings, Inc. (Nasdaq: VBTX) (“Veritex” or the “Company”), the parent holding company for Veritex Community Bank, today announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after August 26, 2022. to shareholders of record as of August 12, 2022.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Forward Looking Statement

This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements include statements regarding Veritex’s projected plans and objectives, including the expected payment date of its common stock dividend. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “seek,” “plan,” “outlook,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may”, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time and are beyond Veritex’s control. Forward-looking statements speak only as of the date they are made and Veritex assumes no duty to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Source: Veritex Holdings, Inc.

Investor Relations:

972-349-6132

investorrelations@veritexbank.com

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Form 8-K Veritex Holdings, Inc. For: Jul 27

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