Veritex Holdings Inc (NASDAQ:VBTX) Q3 2023 Results Conference Call October 23, 2024 9:30 AM ET

Company Participants

Will Holford - IR
Malcolm Holland - Chairman & CEO
Terry Earley - Senior EVP & CFO
Curtis Anderson - Senior EVP & Chief Credit Officer

Conference Call Participants

Michael Rose - Raymond James
Catherine Mealor - KBW
Ahmad Hasan - D.A. Davidson
Matt Olney - Stephens
Brett Rabatin - Hovde Group

Operator

Good morning, and welcome to the Veritex Holdings Third Quarter 2024 Earnings Conference Call and Webcast. All participants will be in a listen-only mode. Please note, this event will be recorded.

I'll now turn the conference over to Will Holford with Veritex.

Will Holford

Thank you. Before we get started, I'd like to remind you that this presentation may include forward-looking statements, and those statements are subject to risks and uncertainties that could cause actual anticipated results to differ. The company undertakes no obligation to publicly revise any forward-looking statement.

If you're locked into our webcast, please refer to slide presentation and our safe harbor statement beginning on Slide 2. For those on the phone, please note that the safe harbor statement and presentation are available on our website, veritexbank.com. All comments made today are subject to that safe harbor statement.

Some financial metrics discussed will be on a non-GAAP basis, which management believes better reflects the underlying core operating performance of the business. Please see the reconciliation of all discussed non-GAAP measures in our filed 8-K earnings release.

Joining me today are Malcolm Holland, our Chairman and CEO; Terry Earley, our Chief Financial Officer; and Curtis Anderson, our Chief Credit Officer.

I'll now turn the call over to Malcolm.

Malcolm Holland

Thank you, Will. Good morning, everyone, and welcome to our third quarter earnings call. We review our third quarter highlights as well as discuss the balance sheet transformation that's taken place over the past two years. To accomplish these needed changes on the balance sheet, it's taken a conviction and focus of our executive team and candidly, our entire company.

For the quarter, we reported operating earnings of $32.2 million or $0.59 per share. Pretax pre-provision earnings were $44.6 million or 1.38%. NIM continues to increase slightly, while capital is growing with CET1 now at 10.86. Increased profitability and efficiency is our primary priority and goal as we are dedicated to move our 1% ROAA higher. Our balance sheet continues to get stronger through our focused efforts on deposit gathering and client selection that are full relationships and not just transactions.