Veritex (VBTX) Investor Presentation summary

Company overview and market position

• Operates primarily in Texas with $12.7B in assets, $9.8B in loans, and $10.7B in deposits as of August 2024.

• Recognized as a top employer and maintains a strong presence in Dallas/Ft. Worth and Houston.

• Holds BBB/BBB-/K3 debt ratings and operates 30 branches.

• Texas market offers robust growth, with population and economic expansion outpacing national averages.

• Texas is home to 54 Fortune 500 companies and is the #1 exporting state in the U.S.

Leadership and talent

• Management team averages decades of experience, with recent hires in credit, commercial banking, and sales delivery.

• Curtis Anderson promoted to Chief Credit Officer in 2024, bringing nearly 30 years of experience.

• New Head of Commercial and Private Banking and Director of Sales Delivery joined in 2024, both with over 20 years in banking.

Financial performance and capital

• 2Q24 pre-tax, pre-provision earnings reached $44.4M, with a 1.42% return on average assets.

• Net income for 2Q24 was $27.2M (reported) and $28.3M (operating), with diluted EPS of $0.50 and $0.52, respectively.

• CET1 ratio increased to 10.49%, and tangible book value per share rose to $20.62.

• Stock buybacks totaled $3.5M at 96.6% of tangible book value per share.