# EDGAR Filing Document

**Accession Number:** 0001501570
**File Stem:** 0001501570-23-000021
**Filing Date:** 2023-1
**Character Count:** 102210
**Document Hash:** ca1f7fdc718a036c39003709e1b8b595
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001501570-23-000021.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001501570-23-000021

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20221231

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Veritex Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001501570
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 270973566
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36682
- **FILM NUMBER:** 23548285

**BUSINESS ADDRESS:**
- **STREET 1:** 8214 WESTCHESTER DRIVE
- **STREET 2:** SUITE 400
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75225
- **BUSINESS PHONE:** 972-349-6200

**MAIL ADDRESS:**
- **STREET 1:** 8214 WESTCHESTER DRIVE
- **STREET 2:** SUITE 400
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75225

?xml version="1.0" ? vbtx-20230124

**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): January 24, 2023

**VERITEX HOLDINGS, INC.** 

(Exact name of Registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Texas** | **001-36682** | **27-0973566** |
| (State or other jurisdiction of<br>incorporation or organization) | (Commission File Number) | (I.R.S. Employer<br>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. □

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**Item 2.02 Results of Operations and Financial Condition**

On January 24, 2023, 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 and year ended December 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;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, January 25, 2023, at 8:30 a.m., Central Time, the Company will host an investor conference call and webcast to review its fourth quarter and year end 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 after the close of the market on Tuesday, January 24, 2023. The presentation materials are attached hereto as Exhibit 99.2 and are incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;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** 

&nbsp;&nbsp;&nbsp;&nbsp;After the close of the market on Tuesday, January 24, 2023, 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 February 24, 2023 to shareholders of record as of the close of business on February 10, 2023. The press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

**Forward Looking Statement**

This Current Report 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 the expected payment of Veritex Holdings, Inc.'s ("Veritex") 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 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** |
| <u>[99.1](a2022-annualxexhibit991q4.htm)</u> | <u>[Press release, dated January 24, 2023](a2022-annualxexhibit991q4.htm)</u> |
| <u>[99.2](a4q22investorpresentatio.htm)</u> | <u>[Presentation materials](a4q22investorpresentatio.htm)</u> |
| <u>[99.3](a2022-q4xex993xdividendann.htm)</u> | <u>[Dividend Announcement](a2022-q4xex993xdividendann.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |

---

------

**SIGNATURE**

&nbsp;&nbsp;&nbsp;&nbsp;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: | January 24, 2023 |

---

## Exhibit 99.1

**Exhibit 99.1**

**VERITEX HOLDINGS, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS**

**Dallas, TX — January 24, 2023** —Veritex Holdings, Inc. ("Veritex" or the "Company") (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the fourth quarter and full year of 2022.

"Today we reported strong 2022 performance metrics with $216 million in pre-tax pre-provision earnings, or 1.97% on average assets, 1.35% operating return on average assets, 16% return on average tangible common equity and an efficiency ratio below 50% for the 5th consecutive year," said C. Malcolm Holland, III, Veritex President and Chief Executive Officer. "We generated 34% growth in loans, 24% growth in deposits, completed an oversubscribed common stock offering and expanded relationships and new customers. Looking towards 2023, we remain focused on credit discipline, lending in portfolios that align with our core deposit priorities and delivering strong financial results."

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ***Financial Highlights*** | **Fourth Quarter 2022** | **Third Quarter 2022** | **Fourth Quarter 2021** | **Full Year <br>2022** | **Full Year <br>2021** |
| | **(Dollars in thousands, except per share data)<br>(unaudited)** | **(Dollars in thousands, except per share data)<br>(unaudited)** | **(Dollars in thousands, except per share data)<br>(unaudited)** | **(Dollars in thousands, except per share data)<br>(unaudited)** | **(Dollars in thousands, except per share data)<br>(unaudited)** |
| **GAAP** | | | | | |
| Net income | $39897 | $43322 | $41506 | $146315 | $139584 |
| Diluted EPS | 0.73 | 0.79 | 0.82 | 2.71 | 2.77 |
| Book value per common share | 26.83 | 26.15 | 26.64 | 26.83 | 26.64 |
| Return on average assets<sup>2</sup> | 1.35% | 1.50% | 1.68% | 1.33% | 1.49% |
| Efficiency ratio | 47.63 | 44.71 | 48.53 | 48.64 | 49.45 |
| Return on average equity<sup>2</sup> | 11.03 | 11.82 | 12.65 | 10.28 | 11.01 |
| **Non-GAAP**<sup>1</sup> |  |  |  |  |  |
| Operating earnings | $40395 | $43625 | $42410 | $147889 | $139647 |
| Diluted operating EPS | 0.74 | 0.80 | 0.84 | 2.74 | 2.77 |
| Tangible book value per common share | 18.64 | 17.91 | 17.49 | 18.64 | 17.49 |
| Pre-tax, pre-provision operating earnings | 63694 | 63454 | 48640 | 216413 | 171205 |
| Pre-tax, pre-provision operating return on average assets<sup>2</sup> | 2.15% | 2.20% | 1.97% | 1.97% | 1.83% |
| Operating return on average assets<sup>2</sup> | 1.36 | 1.51 | 1.72 | 1.35 | 1.49 |
| Operating efficiency ratio | 47.11 | 44.37 | 47.64 | 48.21 | 49.27 |
| Return on average tangible common equity<sup>2</sup> | 16.75 | 17.82 | 20.06 | 15.78 | 17.57 |
| Operating return on average tangible common equity<sup>2</sup> | 16.95 | 17.94 | 20.48 | 15.94 | 17.58 |

---

<sup>1</sup> Refer to the section titled "Reconciliation of Non-GAAP Financial Measures" for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures.

<sup>2</sup> Annualized ratio.

**Other Fourth Quarter and 2022 Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Pre-tax, pre-provision operating return on average assets decreased 5 basis points ("bps") from the third quarter of 2022 to 2.15%, and grew 14 bps year-over-year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin increased to 3.87%, up 10 bps from the third quarter of 2022, and grew by 50 bps year-over-year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tangible book value per common share increased to $18.64 during the three months ended December 31, 2022 compared to $17.91 for the three months ended September 30, 2022 and $17.49 for the three months ended December 31, 2021;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total loans held for investment ("LHI"), excluding Paycheck Protection Program ("PPP") and mortgage warehouse ("MW") loans, grew $524.0 million, from the third quarter of 2022, or 24.4% annualized, and grew $2.3 billion, or 33.5%, year-over-year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total deposits grew $374.8 million for the fourth quarter of 2022, or 17.0% annualized, with the average cost of total deposits increasing to 1.46% for the three months ended December 31, 2022 from 0.76% for the three months ended September 30, 2022. Total deposits grew $1.8 billion, or 23.9%, year-over-year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Non-performing assets ("NPAs"), excluding nonaccrual purchased credit deteriorated ("PCD") loans, to total assets decreased to 0.25% , or 1 basis point from September 30, 2022, and decreased 26 bps from December 31, 2021;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Net charge-offs to average loans outstanding, excluding MW and PPP loans decreased 21 bps for the year ended December 31, 2022, compared to December 31, 2021;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Declared quarterly cash dividend of $0.20 per share of outstanding common stock payable on February 24, 2023.

------

**Results of Operations for the Three Months Ended December 31, 2022** 

**Net Interest Income**

For the three months ended December 31, 2022, net interest income before provision for credit losses was $106.1 million and net interest margin was 3.87%, compared to $101.0 million and 3.77%, respectively, for the three months ended September 30, 2022. The $5.1 million increase in net interest income before provision for credit losses was primarily due to a $27.6 million increase in interest income on loans driven by an increase in average balances and loan yields, offset by a $23.9 million increase in total interest expense on interest bearing liabilities driven by an increase in average balances and rates during three months ended December 31, 2022. Net interest margin increased 10 bps from the three months ended September 30, 2022, primarily due to the increase in yields earned on loans during the three months ended December 31, 2022, partially offset by an increase in funding costs.

Compared to the three months ended December 31, 2021, net interest income before provision for credit losses for the three months ended December 31, 2022 increased by $29.4 million, or 38.3%. The increase was primarily due to a $62.7 million increase in interest income on loans driven by an increase in average balances and loan yields, offset by a $22.4 million increase in interest expenses on interest-bearing demand and savings deposits and $6.9 million increase in certificates and other time deposits. Net interest margin increased 50 bps to 3.87% for the three months ended December 31, 2022 from 3.37% for the three months ended December 31, 2021. The increase was primarily due to an increase in average balances and loan yields during the three months ended December 31, 2022, partially offset by an increase in funding costs.

**Noninterest Income**

Noninterest income for the three months ended December 31, 2022 was $14.3 million, an increase of $1.3 million, or 10.0%, compared to the three months ended September 30, 2022. The increase in noninterest income was primarily due to a $7.0 million increase in gain on sale of USDA loans through our wholly owned subsidiary, North Avenue Capital, LLC ("NAC"). This increase was partially offset by an increase of $4.4 million in equity method investment losses and a $1.1 million decrease in customer swap income.

Compared to the three months ended December 31, 2021, noninterest income for the three months ended December 31, 2022 decreased $1.8 million, or 11.3%. The decrease was primarily due to a $6.7 million decrease in equity method investment income and $1.7 million decrease in gain on sale of SBA loans. The decrease was partially offset by a $5.7 million increase in gain on sale of USDA loans through NAC and a $1.5 million increase in customer swap income.

**Noninterest Expense**

Noninterest expense was $57.4 million for the three months ended December 31, 2022, compared to $51.0 million for the three months ended September 30, 2022, an increase of $6.4 million, or 12.5%. The increase was primarily driven by a $4.0 million increase in salaries and employee benefits from continued investment in talent, a $688 thousand increase in data processing and software expenses, a $683 thousand increase in professional and regulatory fees and a $501 thousand increase in occupancy and equipment.

Noninterest expense was $57.4 million for the three months ended December 31, 2022, compared to $45.1 million for the three months ended December 31, 2021, an increase of $12.3 million, or 27.2%. The increase was primarily driven by a $8.3 million increase in salary and employee benefits, from continued investment in talent. Additionally, the increase was driven by data processing and software expense of $1.6 million, professional and regulatory fees of $1.4 million, and occupancy and equipment of $718 thousand.

**Financial Condition**

Total LHI, excluding MW and PPP, were $9.0 billion at December 31, 2022, an increase of $524.0 million, or 24.4% annualized, compared to September 30, 2022, and an increase of $2.3 billion, or 33.5%, compared to December 31, 2021. These increases were the result of the continued execution and success of our loan growth strategy, including our investment in talent during 2022.

------

Total deposits were $9.1 billion at December 31, 2022, an increase of $374.8 million, or 17.0% annualized, compared to September 30, 2022, and an increase of $1.8 billion, or 23.9%, compared to December 31, 2021. The increase from September 30, 2022 was primarily the result of increase of $419.3 million in certificates and other time deposits and an increase of $126.3 million in interest-bearing transaction, money market and savings deposits accounts. The increase was partially offset by a decrease of $170.8 million of noninterest bearing deposits. The increase from December 31, 2021 was primarily the result of increases of $1.1 billion and $510.1 million in interest-bearing transaction, money market, and savings and certificates and other time deposits, respectively.

**Asset Quality**

NPAs increased to $43.7 million, or 0.36% of total assets, at December 31, 2022, compared to $30.6 million, or 0.26% of total assets, at September 30, 2022. The increase is primarily the result of a $13.2 million pool of PCD loans placed on non-accrual status during the three months ended December 31, 2022. Excluding the nonaccrual PCD loans, NPAs decreased to $30.5 million, or 0.25% of total assets. The Company had net charge-offs of $5.8 million for the fourth quarter of 2022. Net charge-offs compared to average loans outstanding were 17 bps for the year ended December 31, 2022, compared to 38 bps for year ended December 31, 2021.

The Company recorded a provision for credit losses of $11.8 million for the three months ended December 31, 2022, compared to a provision for credit losses of $6.7 million and a benefit for credit losses of $3.3 million for the three months ended September 30, 2022 and December 31, 2021, respectively. The provision for credit losses reported for the three months ended December 31, 2022, compared to the three months ended September 30, 2022 and December 31, 2021, respectively, was primarily attributable to an increase in general reserves as a result of changes in economic factors and loan growth. During the three months ended December 31, 2022, the Company recorded a $523 thousand benefit for unfunded commitments, which was primarily driven by decreases in unfunded balances.

Allowance for credit losses ("ACL") as a percentage of LHI, excluding MW and PPP loans, was 1.01%, 1.00% and 1.15% at December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

**Dividend Information**

On January 24, 2023, 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 February 24, 2023 to stockholders of record as of the close of business on February 10, 2023.

**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 to review the results on Wednesday, January 25, 2023 at 8:30 a.m. Central Time. Participants may pre-register for the call by visiting https://edge.media-server.com/mmc/p/767zfwtq 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/BI7ccf0c5ef7d84e35916df74d12b9e4ad. 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.

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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:**

<u>investorrelations@veritexbank.com</u>

**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 the expected payment of Veritex Holdings, Inc.'s ("Veritex") 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.** 

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**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Year Ended** | **For the Year Ended** |
| | **Dec 31, 2022** | **Sep 30, 2022** | **Jun 30, 2022** | **Mar 31, 2022** | **Dec 31, 2021** | **Dec 31, 2022** | **Dec 31, 2021** |
| | **(Dollars and shares in thousands, except per-share data)** | **(Dollars and shares in thousands, except per-share data)** | **(Dollars and shares in thousands, except per-share data)** | **(Dollars and shares in thousands, except per-share data)** | **(Dollars and shares in thousands, except per-share data)** | **(Dollars and shares in thousands, except per-share data)** | **(Dollars and shares in thousands, except per-share data)** |
| **Per Share Data (Common Stock):** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic EPS | $0.74 | $0.80 | $0.55 | $0.66 | $0.84 | $2.75 | $2.83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted EPS | 0.73 | 0.79 | 0.54 | 0.65 | 0.82 | 2.71 | 2.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value per common share | 26.83 | 26.15 | 26.50 | 26.86 | 26.64 | 26.83 | 26.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible book value per common share<sup>1</sup> | 18.64 | 17.91 | 18.20 | 18.51 | 17.49 | 18.64 | 17.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends paid per common share outstanding<sup>2</sup> | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.80 | 0.77 |
| **Common Stock Data:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding at period end | 54030 | 53988 | 53951 | 53907 | 49372 | 54030 | 49372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average basic shares outstanding for the period | 54011 | 53979 | 53949 | 50695 | 49329 | 53170 | 49405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average diluted shares outstanding for the period | 54780 | 54633 | 54646 | 51571 | 50441 | 53952 | 50352 |
| **Summary of Credit Ratios:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ACL to total LHI, excluding MW and PPP loans | 1.01% | 1.00% | 1.02% | 1.02% | 1.15% | 1.01% | 1.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;NPAs to total assets | 0.36 | 0.26 | 0.40 | 0.46 | 0.51 | 0.36 | 0.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;NPAs, excluding nonaccrual PCD loans, to total assets<sup>3</sup> | 0.25 | 0.26 | 0.40 | 0.46 | 0.51 | 0.25 | 0.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs to average loans outstanding, excluding MW and PPP loans<sup>4</sup> | 0.28 | 0.12 | 0.04 | 0.28 | 0.75 | 0.17 | 0.38 |
| **Summary Performance Ratios:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets<sup>4</sup> | 1.35% | 1.50% | 1.11% | 1.36% | 1.68% | 1.33% | 1.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average equity<sup>4</sup> | 11.03 | 11.82 | 8.21 | 10.00 | 12.65 | 10.28 | 11.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average tangible common equity<sup>1, 4</sup> | 16.75 | 17.82 | 12.68 | 15.84 | 20.06 | 15.78 | 17.57 |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio | 47.63 | 44.71 | 50.76 | 52.84 | 48.53 | 48.64 | 49.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest margin | 3.87 | 3.77 | 3.42 | 3.22 | 3.37 | 3.59 | 3.24 |
| **Selected Performance Metrics - Operating:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted operating EPS<sup>1</sup> | $0.74 | $0.80 | $0.55 | $0.66 | $0.84 | $2.74 | $2.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pre-tax, pre-provision operating return on average assets<sup>1, 2</sup> | 2.15% | 2.20% | 1.76% | 1.71% | 1.97% | 1.97% | 1.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating return on average assets<sup>1,4</sup> | 1.36 | 1.51 | 1.12 | 1.38 | 1.72 | 1.35 | 1.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating return on average tangible common equity<sup>1,3</sup> | 16.95 | 17.94 | 12.77 | 16.08 | 20.48 | 15.94 | 17.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating efficiency ratio<sup>1</sup> | 47.11 | 44.37 | 50.45 | 52.05 | 47.64 | 48.21 | 49.27 |
| **Veritex Holdings, Inc. Capital Ratios:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Average stockholders' equity to average total assets | 12.20% | 12.69% | 13.51% | 13.58% | 13.30% | 12.96% | 13.54% |
| &nbsp;&nbsp;Tangible common equity to tangible assets<sup>1</sup> | 8.60 | 8.58 | 9.04 | 9.98 | 9.28 | 8.60 | 9.28 |
| &nbsp;&nbsp;&nbsp;Tier 1 capital to average assets (leverage) | 9.82 | 9.79 | 10.14 | 10.66 | 9.05 | 9.82 | 9.05 |
| &nbsp;&nbsp;&nbsp;Common equity tier 1 capital | 9.09 | 9.09 | 9.25 | 9.84 | 8.58 | 9.09 | 8.58 |
| &nbsp;&nbsp;&nbsp;Tier 1 capital to risk-weighted assets | 9.34 | 9.35 | 9.52 | 10.14 | 8.89 | 9.34 | 8.89 |
| &nbsp;&nbsp;&nbsp;Total capital to risk-weighted assets | 11.63 | 11.68 | 11.95 | 12.73 | 11.60 | 11.63 | 11.60 |

---

<sup>1</sup>Refer to "Reconciliation of Non-GAAP Financial Measures" after the financial highlights for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP measure.

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

<sup>3</sup> Nonaccrual PCD loans consist of PCD loans that transitioned upon adoption of ASC 326 and were accounted for on a pooled basis that have subsequently been placed on nonaccrual status.

<sup>4</sup>Annualized ratio for quarterly metrics.

------

**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(in thousands)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Dec 31, 2022** | **Sep 30, 2022** | **Jun 30, 2022** | **Mar 31, 2022** | **Dec 31, 2021** |
| | **(unaudited)** | **(unaudited)** | **(unaudited)** | **(unaudited)** | |
| **ASSETS** | | | | | |
| Cash and cash equivalents | $436077 | $433897 | $410716 | $551573 | $379784 |
| Debt securities | 1282460 | 1303004 | 1354403 | 1244514 | 1052494 |
| Other investments | 122450 | 115551 | 202685 | 188699 | 190591 |
| Loans held for sale | 20641 | 17644 | 14210 | 18721 | 26007 |
| LHI PPP loans, carried at fair value | 1995 | 2821 | 7339 | 18512 | 53369 |
| LHI, MW | 446227 | 523805 | 629291 | 542877 | 565645 |
| LHI, excluding MW and PPP | 9034429 | 8510433 | 7915792 | 7125429 | 6766009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 9503292 | 9054703 | 8566632 | 7705539 | 7411030 |
| ACL | (91052) | (85037) | (80576) | (72485) | (77754) |
| Bank-owned life insurance | 84496 | 84030 | 84097 | 83641 | 83194 |
| Bank premises, furniture and equipment, net | 108824 | 108720 | 108769 | 109138 | 109271 |
| Other real estate owned ("OREO") |  |  | 1032 | 1062 |  |
| Intangible assets, net of accumulated amortization | 53213 | 56238 | 59011 | 63986 | 66017 |
| Goodwill | 404452 | 404452 | 404452 | 404452 | 403771 |
| Other assets | 250149 | 238896 | 193590 | 173561 | 138851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $12154361 | $11714454 | $11304811 | $10453680 | $9757249 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |  |  |
| Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | $2640617 | $2811412 | $2947830 | $2765895 | $2510723 |
| &nbsp;&nbsp;&nbsp;Interest-bearing transaction and savings deposits | 4395975 | 4269668 | 4007250 | 3688292 | 3276312 |
| &nbsp;&nbsp;&nbsp;Certificates and other time deposits | 2086642 | 1667364 | 1562626 | 1435409 | 1576580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 9123234 | 8748444 | 8517706 | 7889596 | 7363615 |
| Accounts payable and other liabilities | 177579 | 173198 | 126116 | 105552 | 69160 |
| Advances from Federal Home Loan Bank ("FHLB") | 1175000 | 1150000 | 1000000 | 777522 | 777562 |
| Subordinated debentures and subordinated notes | 228775 | 228524 | 228272 | 228018 | 227764 |
| Securities sold under agreements to repurchase |  | 2389 | 3275 | 4996 | 4069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 10704588 | 10302555 | 9875369 | 9005684 | 8442170 |
| Commitments and contingencies |  |  |  |  |  |
| Stockholders' equity: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stock | 607 | 606 | 606 | 605 | 560 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 1306852 | 1303171 | 1300170 | 1297161 | 1142758 |
| &nbsp;&nbsp;&nbsp;Retained earnings | 379299 | 350195 | 317664 | 298830 | 275273 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive (loss) income | (69403) | (74491) | (21416) | 18982 | 64070 |
| &nbsp;&nbsp;&nbsp;Treasury stock | (167582) | (167582) | (167582) | (167582) | (167582) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | 1449773 | 1411899 | 1429442 | 1447996 | 1315079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $12154361 | $11714454 | $11304811 | $10453680 | $9757249 |

---

------

**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(in thousands, except per share data)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Year Ended** | **For the Year Ended** |
| | **Dec 31, 2022** | **Sep 30, 2022** | **Jun 30, 2022** | **Mar 31, 2022** | **Dec 31, 2021** | **Dec 31, 2022** | **Dec 31, 2021** |
| **Interest income:** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Loans, including fees | $136846 | $109199 | $82191 | $71443 | $74174 | $399679 | $280526 |
| &nbsp;&nbsp;&nbsp;Debt securities | 10880 | 10462 | 9632 | 7762 | 9553 | 38736 | 32132 |
| &nbsp;&nbsp;&nbsp;Deposits in financial institutions and Fed Funds sold | 3401 | 1898 | 714 | 262 | 165 | 6275 | 589 |
| &nbsp;&nbsp;&nbsp;Equity securities and other investments | 1087 | 1666 | 1057 | 910 | 1004 | 4720 | 3237 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest income** | 152214 | 123225 | 93594 | 80377 | 84896 | 449410 | 316484 |
| **Interest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Transaction and savings deposits | 24043 | 12897 | 4094 | 1751 | 1629 | 42785 | 6858 |
| &nbsp;&nbsp;&nbsp;Certificates and other time deposits | 8543 | 3919 | 1465 | 1380 | 1661 | 15307 | 9079 |
| &nbsp;&nbsp;&nbsp;Advances from FHLB | 10577 | 2543 | 834 | 1547 | 1847 | 15501 | 7336 |
| &nbsp;&nbsp;&nbsp;Subordinated debentures and subordinated notes | 2954 | 2826 | 2721 | 2659 | 3018 | 11160 | 12428 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest expense** | 46117 | 22185 | 9114 | 7337 | 8155 | 84753 | 35701 |
| **Net interest income** | 106097 | 101040 | 84480 | 73040 | 76741 | 364657 | 280783 |
| Provision (benefit) for credit losses | 11800 | 6650 | 9000 | (500) | (3349) | 26950 | (3349) |
| (Benefit) provision for unfunded commitments | (523) | 850 |  | 493 | (1040) | 820 | (1481) |
| **Net interest income after provisions** | 94820 | 93540 | 75480 | 73047 | 81130 | 336887 | 285613 |
| **Noninterest income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges and fees on deposit accounts | 5173 | 5217 | 5039 | 4710 | 4782 | 20139 | 16742 |
| &nbsp;&nbsp;&nbsp;Loan fees | 2477 | 2786 | 2385 | 2794 | 2697 | 10442 | 7607 |
| &nbsp;&nbsp;&nbsp;Loss on sales of investment securities |  |  |  |  |  |  | (188) |
| &nbsp;&nbsp;&nbsp;Gain on sales of mortgage loans held for sale | 4 | 16 | 223 | 307 | 293 | 550 | 1592 |
| &nbsp;&nbsp;&nbsp;Government guaranteed loan income, net | 7808 | 572 | 789 | 4891 | 3423 | 14060 | 15760 |
| &nbsp;&nbsp;&nbsp;Equity method investment (loss) income | (5416) | (1058) | 966 | 367 | 1238 | (5141) | 5760 |
| &nbsp;&nbsp;&nbsp;Customer swap income | 2273 | 3358 | 1321 | 946 | 796 | 7898 | 2491 |
| &nbsp;&nbsp;&nbsp;Other income (loss) | 2007 | 2130 | (345) | 1082 | 2921 | 4874 | 8641 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest income** | 14326 | 13021 | 10378 | 15097 | 16150 | 52822 | 58405 |
| **Noninterest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 33690 | 29714 | 26924 | 27513 | 25401 | 117841 | 94748 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | 5116 | 4615 | 4496 | 4517 | 4398 | 18744 | 17263 |
| &nbsp;&nbsp;&nbsp;Professional and regulatory fees | 4401 | 3718 | 2865 | 3158 | 3017 | 14142 | 12945 |
| &nbsp;&nbsp;&nbsp;Data processing and software expense | 4197 | 3509 | 3386 | 2921 | 2597 | 14013 | 9946 |
| &nbsp;&nbsp;&nbsp;Marketing | 1841 | 1845 | 2306 | 1187 | 1443 | 7179 | 5344 |
| &nbsp;&nbsp;&nbsp;Amortization of intangibles | 2495 | 2494 | 2495 | 2495 | 2494 | 9979 | 10057 |
| &nbsp;&nbsp;&nbsp;Telephone and communications | 358 | 389 | 352 | 385 | 380 | 1484 | 1434 |
| &nbsp;&nbsp;&nbsp;Merger and acquisition ("M&A") expense |  | 384 | 295 | 700 | 826 | 1379 | 826 |
| &nbsp;&nbsp;&nbsp;Other | 5261 | 4323 | 5034 | 3696 | 4521 | 18314 | 15149 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest expense** | 57359 | 50991 | 48153 | 46572 | 45077 | 203075 | 167712 |
| **Income before income tax expense** | 51787 | 55570 | 37705 | 41572 | 52203 | 186634 | 176306 |
| Income tax expense | 11890 | 12248 | 8079 | 8102 | 10697 | 40319 | 36722 |
| **Net income** | $39897 | $43322 | $29626 | $33470 | $41506 | $146315 | $139584 |
| Basic EPS | $0.74 | $0.80 | $0.55 | $0.66 | $0.84 | $2.75 | $2.83 |
| Diluted EPS | $0.73 | $0.79 | $0.54 | $0.65 | $0.82 | $2.71 | $2.77 |
| Weighted average basic shares outstanding | 54011 | 53979 | 53949 | 50695 | 49329 | 53170 | 49405 |
| Weighted average diluted shares outstanding | 54780 | 54633 | 54646 | 51571 | 50441 | 53952 | 50352 |

---

------

 **VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** |
| | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
| | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| **Assets** | | | | | | | | | |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans<sup>1</sup> | $8741023 | $131817 | 5.98% | $8277762 | $104543 | 5.01% | $6777397 | $70334 | 4.12% |
| &nbsp;&nbsp;&nbsp;LHI, MW | 383080 | 5024 | 5.20 | 448556 | 4649 | 4.11 | 483850 | 3629 | 2.98 |
| &nbsp;&nbsp;&nbsp;PPP loans | 2357 | 6 | 1.00 | 2775 | 7 | 1.00 | 83553 | 211 | 1.00 |
| &nbsp;&nbsp;&nbsp;Debt securities | 1286342 | 10880 | 3.36 | 1362365 | 10462 | 3.05 | 1092089 | 9553 | 3.47 |
| &nbsp;&nbsp;&nbsp;Interest-earning deposits in other banks | 353737 | 3401 | 3.81 | 346296 | 1898 | 2.17 | 417266 | 165 | 0.16 |
| &nbsp;&nbsp;&nbsp;Equity securities and other investments | 119054 | 1087 | 3.62 | 203528 | 1666 | 3.25 | 191031 | 1004 | 2.09 |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | 10885593 | 152215 | 5.55 | 10641282 | 123225 | 4.59 | 9045186 | 84896 | 3.72 |
| ACL | (85275) |  |  | (81888) |  |  | (95218) |  |  |
| Noninterest-earning assets | 960726 |  |  | 901463 |  |  | 838703 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $11761044 |  |  | $11460857 |  |  | $9788671 |  |  |
| **Liabilities and Stockholders' Equity** |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest-bearing demand and savings deposits | $4321936 | 24043 | 2.21% | $4164164 | $12897 | 1.23% | $3357958 | 1629 | 0.19% |
| &nbsp;&nbsp;&nbsp;Certificates and other time deposits | 1785152 | 8543 | 1.90 | 1656347 | 3919 | 0.94 | 1615066 | 1661 | 0.41 |
| &nbsp;&nbsp;&nbsp;Advances from FHLB | 1073049 | 10577 | 3.91 | 904065 | 2543 | 1.12 | 777577 | 1847 | 0.94 |
| &nbsp;&nbsp;&nbsp;Subordinated debentures and subordinated notes | 229037 | 2954 | 5.12 | 231012 | 2826 | 4.85 | 259191 | 3018 | 4.62 |
| &nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 7409174 | 46117 | 2.47 | 6955588 | 22185 | 1.27 | 6009792 | 8155 | 0.54 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 2737468 |  |  | 2925462 |  |  | 2413443 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities | 179584 |  |  | 125991 |  |  | 63760 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 10326226 |  |  | 10007041 |  |  | 8486995 |  |  |
| Stockholders' equity | 1434818 |  |  | 1453816 |  |  | 1301676 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $11761044 |  |  | $11460857 |  |  | $9788671 |  |  |
| Net interest rate spread<sup>2</sup> |  |  | 3.08% |  |  | 3.32% |  |  | 3.18% |
| Net interest income and margin<sup>3</sup> |  | $106098 | 3.87% |  | $101040 | 3.77% |  | $76741 | 3.37% |

---

<sup>1</sup> Includes average outstanding balances of loans held for sale of $15,296, $14,023 and $8,987 for the three months ended December 31, 2022, September 30, 2022 and December 31, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

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

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

------

**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
| | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** |
| | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| **Assets** |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans<sup>1</sup> | $7865432 | $382883 | 4.87% | $6285510 | $263583 | 4.19% |
| &nbsp;&nbsp;&nbsp;LHI, MW | 433062 | 16671 | 3.85 | 468001 | 14219 | 3.04 |
| &nbsp;&nbsp;&nbsp;PPP loans | 12517 | 125 | 1.00 | 272770 | 2724 | 1.00 |
| &nbsp;&nbsp;&nbsp;Debt securities | 1277643 | 38736 | 3.03 | 1092967 | 32132 | 2.94 |
| &nbsp;&nbsp;&nbsp;Interest-earning deposits in other banks | 405471 | 6275 | 1.55 | 410785 | 589 | 0.14 |
| &nbsp;&nbsp;&nbsp;Equity securities and other investments | 169875 | 4720 | 2.78 | 133594 | 3237 | 2.42 |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | 10164000 | 449410 | 4.42 | 8663627 | 316484 | 3.65 |
| ACL | (79845) |  |  | (101383) |  |  |
| Noninterest-earning assets | 905103 |  |  | 799334 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $10989258 |  |  | $9361578 |  |  |
| **Liabilities and Stockholders' Equity** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest-bearing demand and savings deposits | $3934926 | 42785 | 1.09 | $3198225 | 6858 | 0.21 |
| &nbsp;&nbsp;&nbsp;Certificates and other time deposits | 1601687 | 15307 | 0.96 | 1540188 | 9079 | 0.59 |
| &nbsp;&nbsp;&nbsp;Advances from FHLB | 896687 | 15501 | 1.73 | 777635 | 7336 | 0.94 |
| &nbsp;&nbsp;&nbsp;Subordinated debentures and subordinated notes | 230984 | 11160 | 4.83 | 263535 | 12428 | 4.72 |
| Total interest-bearing liabilities | 6664284 | 84753 | 1.27 | 5779583 | 35701 | 0.62 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 2782077 |  |  | 2256546 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities | 119237 |  |  | 57457 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 9565598 |  |  | 8093586 |  |  |
| Stockholders' equity | 1423660 |  |  | 1267992 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $10989258 |  |  | $9361578 |  |  |
| Net interest rate spread<sup>2</sup> |  |  | 3.15% |  |  | 3.03% |
| Net interest income and margin<sup>3</sup> |  | $364657 | 3.59% |  | $280783 | 3.24% |

---

<sup>1</sup>Includes average outstanding balances of loans held for sale of $13,558 and $12,093 for the twelve months ended December 31, 2022 and 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

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

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

------

**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

**Yield Trend**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** |
| | **Dec 31,<br>2022** | **Sep 30,<br>2022** | **Jun 30,<br>2022** | **Mar 31,<br>2022** | **Dec 31,<br>2021** |
| Average yield on interest-earning assets: |  |  |  |  |  |
| Loans<sup>1</sup> | 5.98% | 5.01% | 4.16% | 4.03% | 4.12% |
| LHI, MW | 5.20 | 4.11 | 3.29 | 2.95 | 2.98 |
| PPP loans | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Debt securities | 3.36 | 3.05 | 2.93 | 2.76 | 3.47 |
| Interest-bearing deposits in other banks | 3.81 | 2.17 | 0.77 | 0.19 | 0.16 |
| Equity securities and other investments | 3.62 | 3.25 | 2.53 | 1.94 | 2.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 5.55% | 4.59% | 3.79% | 3.54% | 3.72% |
| Average rate on interest-bearing liabilities: |  |  |  |  |  |
| Interest-bearing demand and savings deposits | 2.21% | 1.23% | 0.44% | 0.20% | 0.19% |
| Certificates and other time deposits | 1.90 | 0.94 | 0.40 | 0.37 | 0.41 |
| Advances from FHLB | 3.91 | 1.12 | 0.40 | 0.81 | 0.94 |
| Subordinated debentures and subordinated notes | 5.12 | 4.85 | 4.70 | 4.65 | 4.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 2.47% | 1.27% | 0.58% | 0.50% | 0.54% |
| Net interest rate spread<sup>2</sup> | 3.08% | 3.32% | 3.21% | 3.04% | 3.18% |
| Net interest margin<sup>3</sup> | 3.87% | 3.77% | 3.42% | 3.22% | 3.37% |

---

 

<sup>1</sup> Includes average outstanding balances of loans held for sale of $15,296, $14,023, $12,112, $12,769 and $8,987 for the three months ended December 31, 2022, September 30, 2022, June 30, 2022, March 31, 2022 and December 31, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>2</sup> Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>3</sup> Net interest margin is equal to net interest income divided by average interest-earning assets.

**Supplemental Yield Trend**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** |
| | **Dec 31,<br>2022** | **Sep 30,<br>2022** | **Jun 30,<br>2022** | **Mar 31,<br>2022** | **Dec 31,<br>2021** |
| Average cost of interest-bearing deposits | 2.12% | 1.15% | 0.43% | 0.26% | 0.26% |
| Average costs of total deposits, including noninterest-bearing | 1.46 | 0.76 | 0.28 | 0.17 | 0.18 |

---

------

**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

**LHI and Deposit Portfolio Composition**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Dec 31, 2022** | **Dec 31, 2022** | **Sep 30, 2022** | **Sep 30, 2022** | **Jun 30, 2022** | **Jun 30, 2022** | **Mar 31, 2022** | **Mar 31, 2022** | **Dec 31, 2021** | **Dec 31, 2021** |
| | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** |
| **LHI**<sup>1</sup> | | | | | | | | | | |
| Commercial | $2940353 | 32.4% | $2740948 | 32.1% | $2450403 | 30.9% | $2125900 | 29.8% | $2006876 | 29.6% |
| Real Estate: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied commercial ("OOCRE") | 715829 | 7.9 | 677705 | 7.9 | 646723 | 8.2 | 633615 | 8.9 | 665537 | 9.8 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied commercial ("NOOCRE") | 2341379 | 25.9 | 2273305 | 26.7 | 2203970 | 27.8 | 2145826 | 30.0 | 2120309 | 31.3 |
| &nbsp;&nbsp;&nbsp;Construction and land | 1787400 | 19.7 | 1673997 | 19.6 | 1532997 | 19.3 | 1297338 | 18.2 | 1062144 | 15.7 |
| &nbsp;&nbsp;&nbsp;Farmland | 43500 | 0.5 | 43569 | 0.5 | 47319 | 0.6 | 48095 | 0.7 | 55827 | 0.8 |
| &nbsp;&nbsp;&nbsp;1-4 family residential | 894456 | 9.9 | 858693 | 10.1 | 765260 | 9.6 | 604408 | 8.5 | 542566 | 8.0 |
| &nbsp;&nbsp;&nbsp;Multi-family residential | 322679 | 3.6 | 252244 | 3.0 | 276632 | 3.5 | 272250 | 3.8 | 310241 | 4.6 |
| Consumer | 7806 | 0.1 | 7465 | 0.1 | 7520 | 0.1 | 9533 | 0.1 | 11998 | 0.2 |
| Total LHI | $9053402 | 100% | $8527926 | 100% | $7930824 | 100% | $7136965 | 100% | $6775498 | 100% |
| MW | 446227 |  | 523805 |  | 629291 |  | 542877 |  | 565645 |  |
| PPP loans | 1995 |  | 2821 |  | 7339 |  | 18512 |  | 53369 |  |
| Total LHI<sup>1</sup> | $9501624 |  | $9054552 |  | $8567454 |  | $7698354 |  | $7394512 |  |
| **Deposits** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing | $2640617 | 28.9% | $2811412 | 32.1% | $2947830 | 34.6% | $2765895 | 35.1% | $2510723 | 34.1% |
| &nbsp;&nbsp;&nbsp;Interest-bearing transaction | 622814 | 6.8 | 603729 | 6.9 | 660557 | 7.8 | 599580 | 7.6 | 579408 | 7.9 |
| &nbsp;&nbsp;&nbsp;Money market | 3654868 | 40.1 | 3533532 | 40.4 | 3217195 | 37.8 | 2958790 | 37.5 | 2568843 | 34.9 |
| &nbsp;&nbsp;&nbsp;Savings | 118293 | 1.3 | 132407 | 1.5 | 129498 | 1.5 | 129922 | 1.6 | 128061 | 1.7 |
| &nbsp;&nbsp;&nbsp;Certificates and other time deposits | 2086642 | 22.9 | 1667364 | 19.1 | 1562626 | 18.3 | 1435409 | 18.2 | 1576580 | 21.4 |
| Total deposits | $9123234 | 100% | $8748444 | 100% | $8517706 | 100% | $7889596 | 100% | $7363615 | 100% |
| Loan to Deposit Ratio | 104.1% |  | 103.5% |  | 100.6% |  | 97.6% |  | 100.4% |  |
| Loan to Deposit Ratio, excluding MW and PPP loans | 99.2% |  | 97.5% |  | 93.1% |  | 90.5% |  | 92.0% |  |

---

<sup>1</sup> Total LHI does not include deferred costs of $19.0 million, $17.5 million, $15.0 million, $11.5 million and $9.5 million at December 31, 2022, September 30, 2022, June 30, 2022, March 31, 2022 and December 31, 2021, respectively.

------

**VERITEX HOLDINGS, INC. AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

**Asset Quality**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Year Ended** | **For the Year Ended** |
| | **Dec 31,<br>2022** | **Sep 30,<br>2022** | **Jun 30,<br>2022** | **Mar 31,<br>2022** | **Dec 31,<br>2021** | **Dec 31,<br>2022** | **Dec 31,<br>2021** |
| | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** | **(In thousands, except percentages)** |
| NPAs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nonaccrual loans | $30364 | $30592 | $42242 | $46680 | $49687 | $30364 | $49687 |
| &nbsp;&nbsp;&nbsp;Nonaccrual PCD loans<sup>1</sup> | 13178 |  |  |  |  | 13178 |  |
| &nbsp;&nbsp;&nbsp;Accruing loans 90 or more days past due<sup>2</sup> | 125 |  | 1753 | 264 | 441 | 125 | 441 |
| &nbsp;&nbsp;&nbsp;Total nonperforming loans held for investment ("NPLs") | 43667 | 30592 | 43995 | 46944 | 50128 | 43667 | 50128 |
| &nbsp;&nbsp;&nbsp;OREO |  |  | 1032 | 1062 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total NPAs | $43667 | $30592 | $45027 | $48006 | $50128 | $43667 | $50128 |
| Charge-offs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-4 family residential | $— | $— | $— | $— | $— | $— | $(379) |
| &nbsp;&nbsp;&nbsp;OOCRE |  | (1061) | (244) | (1341) | (898) | (2646) | (2400) |
| &nbsp;&nbsp;&nbsp;NOOCRE | (1019) | (838) |  | (553) | (7936) | (2410) | (7936) |
| &nbsp;&nbsp;&nbsp;Commercial | (5449) | (460) | (528) | (3294) | (4114) | (9731) | (15576) |
| &nbsp;&nbsp;&nbsp;Consumer | (41) | (19) | (1091) | (134) | (44) | (1285) | (99) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | (6509) | (2378) | (1863) | (5322) | (12992) | (16072) | (26390) |
| Recoveries: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-4 family residential | 24 | 4 | 3 |  | 6 | 31 | 64 |
| &nbsp;&nbsp;&nbsp;OOCRE | 26 |  | 245 |  |  | 271 | 500 |
| &nbsp;&nbsp;&nbsp;NOOCRE | 229 | 3 | 93 | 400 |  | 725 |  |
| &nbsp;&nbsp;&nbsp;Commercial | 415 | 177 | 572 | 144 | 61 | 1308 | 1542 |
| &nbsp;&nbsp;&nbsp;Consumer | 30 | 5 | 41 | 9 | 257 | 85 | 303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 724 | 189 | 954 | 553 | 324 | 2420 | 2409 |
| Net charge-offs | $(5785) | $(2189) | $(909) | $(4769) | $(12668) | $(13652) | $(23981) |
| ACL | $91052 | $85037 | $80576 | $72485 | $77754 | $91052 | $77754 |
| Asset Quality Ratios: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;NPAs to total assets | 0.36% | 0.26% | 0.40% | 0.46% | 0.51% | 0.36% | 0.51% |
| &nbsp;&nbsp;&nbsp;NPAs, excluding nonaccrual PCD loans, to total assets | 0.25 | 0.26 | 0.40 | 0.46 | 0.51 | 0.25 | 0.51 |
| &nbsp;&nbsp;&nbsp;NPLs to total LHI, excluding MW and PPP loans | 0.48 | 0.36 | 0.55 | 0.66 | 0.74 | 0.48 | 0.74 |
| &nbsp;&nbsp;&nbsp;NPLs, excluding nonaccrual PCD loans, to total LHI, excluding MW and PPP loans | 0.34 | 0.36 | 0.55 | 0.66 | 0.74 | 0.34 | 0.74 |
| &nbsp;&nbsp;&nbsp;ACL to total LHI, excluding MW and PPP loans | 1.01 | 1.00 | 1.02 | 1.02 | 1.15 | 1.01 | 1.15 |
| &nbsp;&nbsp;&nbsp;Net charge-offs to average loans outstanding<sup>3</sup> | 0.28 | 0.12 | 0.04 | 0.28 | 0.75 | 0.17 | 0.38 |

---

<sup>1</sup> Nonaccrual PCD loans consist of PCD loans that transitioned upon adoption of ASC 326 and were accounted for on a pooled basis that have subsequently been placed on nonaccrual status.

<sup>2</sup> 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.

<sup>3</sup>Annualized ratio for quarterly metrics.

------

**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 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 per common share 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** | **As of** | **As of** | **As of** | **As of** |
| | **Dec 31, 2022** | **Sep 30, 2022** | **Jun 30, 2022** | **Mar 31, 2022** | **Dec 31, 2021** |
| | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** |
| **Tangible Common Equity** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | $1449773 | $1411899 | $1429442 | $1447996 | $1315079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (404452) | (404452) | (404452) | (404452) | (403771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core deposit intangibles | (38247) | (40684) | (43122) | (45560) | (47998) |
| &nbsp;&nbsp;&nbsp;**Tangible common equity** | $1007074 | $966763 | $981868 | $997984 | $863310 |
| Common shares outstanding | 54030 | 53988 | 53951 | 53907 | 49372 |
| Book value per common share | $26.83 | $26.15 | $26.50 | $26.86 | $26.64 |
| Tangible book value per common share | $18.64 | $17.91 | $18.20 | $18.51 | $17.49 |

---

------

**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** | **As of** | **As of** | **As of** | **As of** |
| | **Dec 31, 2022** | **Sep 30, 2022** | **Jun 30, 2022** | **Mar 31, 2022** | **Dec 31, 2021** |
| | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** |
| **Tangible Common Equity** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | $1449773 | $1411899 | $1429442 | $1447996 | $1315079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (404452) | (404452) | (404452) | (404452) | (403771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core deposit intangibles | (38247) | (40684) | (43122) | (45560) | (47998) |
| &nbsp;&nbsp;&nbsp;**Tangible common equity** | $1007074 | $966763 | $981868 | $997984 | $863310 |
| **Tangible Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $12154361 | $11714454 | $11304811 | $10453680 | $9757249 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (404452) | (404452) | (404452) | (404452) | (403771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core deposit intangibles | (38247) | (40684) | (43122) | (45560) | (47998) |
| &nbsp;&nbsp;&nbsp;**Tangible Assets** | $11711662 | $11269318 | $10857237 | $10003668 | $9305480 |
| **Tangible Common Equity to Tangible Assets** | 8.60% | 8.58% | 9.04% | 9.98% | 9.28% |

---

------

**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 Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Year Ended** | **For the Year Ended** |
| | **Dec 31,<br>2022** | **Sep 30,<br>2022** | **Jun 30,<br>2022** | **Mar 31,<br>2022** | **Dec 31,<br>2021** | **Dec 31,<br>2022** | **Dec 31,<br>2021** |
| | **(Dollars in thousands, except for percentages)** | **(Dollars in thousands, except for percentages)** | **(Dollars in thousands, except for percentages)** | **(Dollars in thousands, except for percentages)** | **(Dollars in thousands, except for percentages)** | **(Dollars in thousands, except for percentages)** | **(Dollars in thousands, except for percentages)** |
| **Net income available for common stockholders adjusted for amortization of core deposit intangibles** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Net income | $39897 | $43322 | $29626 | $33470 | $41506 | $146315 | $139584 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: Amortization of core deposit intangibles | 2438 | 2438 | 2438 | 2438 | 2438 | 9752 | 9761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Tax benefit at the statutory rate | 512 | 512 | 512 | 512 | 512 | 2048 | 2050 |
| &nbsp;&nbsp;&nbsp;**Net income available for common stockholders adjusted for amortization of core deposit intangibles** | $41823 | $45248 | $31552 | $35396 | $43432 | $154019 | $147295 |
| **Average Tangible Common Equity** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total average stockholders' equity | $1434818 | $1453816 | $1447377 | $1357448 | $1301676 | $1423660 | $1267992 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average goodwill | (404452) | (404452) | (404452) | (404014) | (393220) | (404344) | (376480) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average core deposit intangibles | (39792) | (42230) | (44720) | (47158) | (49596) | (43451) | (53233) |
| &nbsp;&nbsp;&nbsp;**Average tangible common equity** | $990574 | $1007134 | $998205 | $906276 | $858860 | $975865 | $838279 |
| **Return on Average Tangible Common Equity (Annualized)** | 16.75% | 17.82% | 12.68% | 15.84% | 20.06% | 15.78% | 17.57% |

---

------

**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 (gain) on sale of securities, net, plus debt extinguishment costs, less Thrive Mortgage, LLC's ("Thrive") PPP loan forgiveness income, plus merger and acquisition 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 benefit (provision) 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 Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Year Ended** | **For the Year Ended** |
| | **Dec 31,<br>2022** | **Sep 30,<br>2022** | **Jun 30,<br>2022** | **Mar 31,<br>2022** | **Dec 31,<br>2021** | **Dec 31,<br>2022** | **Dec 31,<br>2021** |
| | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** | **(Dollars in thousands, except per share data)** |
| **Operating Earnings** | | | | | | | |
| Net income | $39897 | $43322 | $29626 | $33470 | $41506 | $146315 | $139584 |
| Plus: Severance payments<sup>1</sup> | 630 |  |  |  |  | 630 | 627 |
| Plus: Loss on sale of debt securities AFS, net |  |  |  |  |  |  | 188 |
| Less: Thrive PPP loan forgiveness income<sup>2</sup> |  |  |  |  |  |  | 1912 |
| Plus: M&A expenses |  | 384 | 295 | 700 | 826 | 1379 | 826 |
| Operating pre-tax income | 40527 | 43706 | 29921 | 34170 | 42332 | 148324 | 139313 |
| Less: Tax impact of adjustments | 132 | 81 | 66 | 156 | (78) | 435 | 92 |
| Plus: Nonrecurring tax adjustments<sup>3</sup> |  |  |  |  |  |  | 426 |
| Operating earnings | $40395 | $43625 | $29855 | $34014 | $42410 | $147889 | $139647 |
| **Weighted average diluted shares outstanding** | 54780 | 54633 | 54646 | 51571 | 50441 | 53952 | 50352 |
| **Diluted EPS** | $0.73 | $0.79 | $0.54 | $0.65 | $0.82 | $2.71 | $2.77 |
| **Diluted operating EPS** | $0.74 | $0.80 | $0.55 | $0.66 | $0.84 | $2.74 | $2.77 |

---

<sup>1</sup> Severance payments relate to restructurings made for the years ended December 31, 2022 and 2021.

<sup>2</sup> During the year ended December 31, 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.

<sup>3</sup> A nonrecurring tax adjustment of $426 thousand recorded for the year ended December 31, 2021 was due to a true-up of a deferred tax liability.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Quarter Ended** | **For the Year Ended** | **For the Year Ended** |
| | **Dec 31,<br>2022** | **Sep 30,<br>2022** | **Jun 30,<br>2022** | **Mar 31,<br>2022** | **Dec 31,<br>2021** | **Dec 31,<br>2022** | **Dec 31,<br>2021** |
| | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** | **(Dollars in thousands, except percentages)** |
| **Pre-Tax, Pre-Provision Operating Earnings** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Net Income | $39897 | $43322 | $29626 | $33470 | $41506 | $146315 | $139584 |
| &nbsp;&nbsp;&nbsp;Plus: Provision for income taxes | 11890 | 12248 | 8079 | 8102 | 10697 | 40319 | 36722 |
| &nbsp;&nbsp;&nbsp;Plus: Provision (benefit) for credit losses and unfunded commitments | 11277 | 7500 | 9000 | (7) | (4389) | 27770 | (4830) |
| &nbsp;&nbsp;&nbsp;Plus: Severance payments | 630 |  |  |  |  | 630 | 627 |
| &nbsp;&nbsp;&nbsp;Plus: Loss on sale of debt securities AFS, net |  |  |  |  |  |  | 188 |
| &nbsp;&nbsp;&nbsp;Less: Thrive PPP loan forgiveness income |  |  |  |  |  |  | 1912 |
| &nbsp;&nbsp;&nbsp;Plus: M&A expenses |  | 384 | 295 | 700 | 826 | 1379 | 826 |
| **Net pre-tax, pre-provision operating earnings** | $63694 | $63454 | $47000 | $42265 | $48640 | $216413 | $171205 |
| **Total average assets** | $11761044 | $11460857 | $10711663 | $9998922 | $9788671 | $10989258 | $9361578 |
| **Pre-tax, pre-provision operating return on average assets**<sup>1</sup> | 2.15% | 2.20% | 1.76% | 1.71% | 1.97% | 1.97% | 1.83% |
| **Average Total Assets** | $11761044 | $11460857 | $10711663 | $9998922 | $9788671 | $10989258 | $9361578 |
| Return on average assets<sup>1</sup> | 1.35% | 1.50% | 1.11% | 1.36% | 1.68% | 1.33% | 1.49% |
| Operating return on average assets<sup>1</sup> | 1.36 | 1.51 | 1.12 | 1.38 | 1.72 | 1.35 | 1.49 |
| **Operating earnings adjusted for amortization of core deposit intangibles** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Operating earnings | $40395 | $43625 | $29855 | $34014 | $42410 | $147889 | $139647 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Plus: Amortization of core deposit intangibles | 2438 | 2438 | 2438 | 2438 | 2438 | 9752 | 9761 |
| &nbsp;&nbsp;&nbsp;Less: Tax benefit at the statutory rate | 512 | 512 | 512 | 512 | 512 | 2048 | 2050 |
| **Operating earnings adjusted for amortization of core deposit intangibles** | $42321 | $45551 | $31781 | $35940 | $44336 | $155593 | $147358 |
| **Average Tangible Common Equity** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total average stockholders' equity | $1434818 | $1453816 | $1447377 | $1357448 | $1301676 | $1423660 | $1267992 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Average goodwill | (404452) | (404452) | (404452) | (404014) | (393220) | (404344) | (376480) |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Average core deposit intangibles | (39792) | (42230) | (44720) | (47158) | (49596) | (43451) | (53233) |
| &nbsp;&nbsp;&nbsp;**Average tangible common equity** | $990574 | $1007134 | $998205 | $906276 | $858860 | $975865 | $838279 |
| **Operating return on average tangible common equity**<sup>1</sup> | 16.95% | 17.94% | 12.77% | 16.08% | 20.48% | 15.94% | 17.58% |
| **Efficiency ratio** | 47.63% | 44.71% | 50.76% | 52.84% | 48.53% | 48.64% | 49.45% |
| Net interest income | $106097 | $101040 | $84480 | $73040 | $76741 | $364657 | $280783 |
| Noninterest income | 14326 | 13021 | 10378 | 15097 | 16150 | 52822 | 58405 |
| &nbsp;&nbsp;&nbsp;Plus: Loss on sale of debt securities AFS, net |  |  |  |  |  |  | 188 |
| &nbsp;&nbsp;&nbsp;Less: Thrive's PPP loan forgiveness income |  |  |  |  |  |  | 1912 |
| Operating noninterest income | 14326 | 13021 | 10378 | 15097 | 16150 | 52822 | 56681 |
| Noninterest expense | 57359 | 50991 | 48153 | 46572 | 45077 | 203075 | 167712 |
| &nbsp;&nbsp;&nbsp;Less: Severance payments | 630 |  |  |  |  | 630 | 627 |
| &nbsp;&nbsp;&nbsp;Less: M&A expenses |  | 384 | 295 | 700 | 826 | 1379 | 826 |
| Operating noninterest expense | $56729 | $50607 | $47858 | $45872 | $44251 | $201066 | $166259 |
| **Operating efficiency ratio** | 47.11% | 44.37% | 50.45% | 52.05% | 47.64% | 48.21% | 49.27% |

---

<sup>1</sup> Annualized ratio for quarterly metrics.

## Exhibit 99.2

![](a4q22investorpresentatio001.jpg)

1/24/2023 11/24/2023 1 2022 TRUTH \| INTEGRITY \| TRANSPARENCY Full Year and Fourth Quarter Exhibit 99.2

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![](a4q22investorpresentatio002.jpg)

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 the expected payment of Veritex Holdings, Inc.'s ("Veritex") 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 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.

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3                 Truth in Texas Banking Dallas / Ft. Worth Houston (31) Branches $12.2 Billion in assets 2.15% PTPP ROAA 9% CAGR TBV since Green Bank acquisition, 1/1/19 $1.52 Billion market cap Financial metrics as of December 31, 2022; market cap as of January 20, 2023. Veritex Holdings, Inc. Franchise Overview

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![](a4q22investorpresentatio004.jpg)

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5 Fourth Quarter and Year End Highlights Financial Highlights ($M) Fourth Quarter 2022 Third Quarter 2022 Fourth Quarter 2021 Net Interest Income 106.1 $101.0 76.7 Non-Interest Revenue 14.3 13.0 16.2 Total Revenue 120.4 114.0 92.9 Non-Interest Expense 57.3 51.0 45.1 PTPP 63.1 63.0 47.8 Provision for Credit Losses 11.3 7.5 (4.4) Income Tax Expense 11.9 12.2 10.7 Net Income 39.9 43.3 41.5 Key Performance Metrics Fourth Quarter 2022 Third Quarter 2022 Fourth Quarter 2021 Diluted EPS1 0.73 0.79 0.82 BVPS ($) 26.83 26.15 26.64 ROAA (%) 1.35 1.50 1.68 Efficiency Ratio (%) 47.6 44.7 48.5 ROATCE (%)1 16.75 17.82 20.06 Full Year 2022 Full Year 2021 364.7 280.8 52.8 58.4 417.5 339.2 203.1 167.7 214.4 171.5 27.8 (4.8) 40.3 36.7 146.3 139.6 Full Year 2022 Full Year 2021 2.71 2.77 26.83 26.64 1.33 1.49 48.6 49.5 15.78 17.57 Key Operating Performance Metrics Fourth Quarter 2022 Third Quarter 2022 Fourth Quarter 2021 Operating Diluted EPS1 0.74 0.80 0.84 TBVPS ($) 18.64 17.91 17.49 Operating ROAA (%) 1.36 1.51 1.72 Operating Efficiency Ratio (%) 47.1 44.4 47.6 Operating ROATCE (%)1 16.95 17.94 20.48 Full Year 2022 Full Year 2021 2.74 2.77 18.64 17.49 1.35 1.49 48.2 49.3 15.94 17.58 1 2022 figures include the impact of our common stock offering completed in 1Q22 in which we issued 4,314,474 shares with net proceeds of ~$153.8 million.

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6 Significant Earnings Improvement while Investing for our Future 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. ROATCE figures include the impact of the common stock offering completed in 1Q22 in which we issued 4,314,474 shares with net proceeds of ~$153.8 million. $50.2 $115.9 $88.1 $176.3 $186.6 $52.2 $51.8 2018 2019 2020 2021 2022 4Q21 4Q22 $- $50 $100 $150 $200 Income Before Taxes 12.9% 13.0% 11.2% 17.6% 15.8% 20.1% 16.8% 2018 2019 2020 2021 2022 4Q21 4Q22 0% 5% 10% 15% 20% 25% Return on Average Tangible Common Equity1 Driven by growth in loans and deposits Scalable business model with expense leverage

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7 Financial Metrics 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 PTPP Return on Average Assets1 $0.82 $0.65 $0.54 $0.79 $0.73 $0.84 $0.66 $0.55 $0.80 $0.74 4Q21 1Q22 2Q22 3Q22 4Q22 Diluted EPS Diluted Operating EPS Diluted Earnings Per Share1 48.53% 52.84% 50.76% 44.71% 47.63%47.64% 52.05% 50.45% 44.37% 47.11% 4Q21 1Q22 2Q22 3Q22 4Q22 Reported Operating Efficiency Ratio1 $48.6 $42.3 $47.0 $63.5 $63.7 1.97% 1.71% 1.76% 2.20% 2.15% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 4Q21 1Q22 2Q22 3Q22 4Q22 PTPP Operating Earnings PTPP Operating ROAA $17.49 $18.51 $18.20 $17.91 $18.64 4Q21 1Q22 2Q22 3Q22 4Q22 TBVPS1

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8 Disciplined Lending in Growing Texas Market Loan Growth ($B) Quarter over Quarter Loan Growth ($B) Growth: +6.2% Strong broad growth; CAGR 24% 28% 8% 31% 19% 10% 3% $5.9 $6.0 $6.3 $6.6 $6.8 $7.1 $7.9 $8.5 $9.1 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 NOOCRE OOCRE Commercial Construction 1-4 Fam Multi Fam Other (<1%) CAGR 24%

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9 Disciplined Lending in Texas $1.0 $1.1 $1.2 $1.3 $1.4 $1.5 $1.6 $1.7 $1.8 $1.9 Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec 2021 Unfunded 2022 Unfunded CRE ADC Construction LOC Current Unfunded (Non-Revolving) YTD Growth by Portfolio 50,292 221,070 351,890 725,256 933,477 216,177 18,222 369,114 447,330 ($ in thousands) OOCRE NOOCRE 1-4 Family Resi Construction and land Commercial and Industrial (51,935)

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10 Shifting Production Focus Reflects the Bank's Increased Investment in C&I and Limits Growth in CRE FY 2022 / 4Q22 Loan Production 16% 41% 19% 10% 4% 10% NOOCRE Commercial & Industrial Construction & Land OOCRE 1-4 Family Residential Mortgage Warehouse 13% 30% 38% 4% 5% 10% $1.1 Billion 4Q22 Production % Production by Loan Type

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![](a4q22investorpresentatio011.jpg)

11 $73.0 $84.5 $101.0 $106.1 3.37% 3.22% 3.42% 3.77% 3.87% 3.31% 3.15% 3.37% 3.72% 3.82% 4Q21 1Q22 2Q22 3Q22 4Q22 Net Interest Income ("NII") NIM Adjusted NIM (Excludes All Purchase Accounting) $76.7 $9.2 $9.9 $10.6 4Q21 1Q22 2Q22 3Q22 4Q22 Average Earning Assets $9.0 $10.9 ($ in billions) ($ in millions) 3Q22 v 4Q22 2021 v 2022 Beginning Net Interest Income $101,040 $280,783 Impact of rate changes 4,161 30,815 Impact of growth 735 49,367 Change in earning asset mix and other 161 5,762 Debt security prepayment income - (2,070) Ending Net Interest Income $106,097 $364,657 21+% ($ in thousand) Average Earnings Assets Net Interest Income Rollforward Interest Rate Sensitivity1 Growing Net Interest Income Expanded NIM 50 bps in 2022 Quarter ending earning assets $11.3 1 Interest rate sensitivity is calculated using a static rate shock.

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12 5 Quarter Trend, exc. MW and PPP Debt Investment Yields Variable and Hybrid Loans by Index Interest Rate Components of Loans and Investments 2.74% 2.76% 2.93% 3.05% 3.36% 4Q21 1Q22 2Q22 3Q22 4Q22 1 1 Excludes $2.1 million of prepayment penalty income on debt securities during 4Q21. 4.12% 4.03% 4.16% 5.01% 5.98% 0.18% 0.17% 0.28% 0.76% 1.46% 4Q21 1Q22 2Q22 3Q22 4Q22 Average Loan Yield Average Cost of Total Deposits 24% 70% 6% Loan Portfolio by Repricing Type Fixed Variable Hybrid 5 quarter investment yield trend, excluding prepayments Loan yield up 97 bps and deposit rates up 70 bps Variable and Hybrid Loans by Rate Index Amount (in millions) % of Variable and Hybrid Loans 1-Month LIBOR 1,378.8$19.2% 12-Month LIBOR 285.2$4.0% 1-Month SOFR 3,890.7$54.3% Prime Rate 1,608.4$22.4% Other 6.3$0.1% Total Variable and Hybrid Loans 7,169.4$100.0%

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13 ($ in billions) Deposit Growth 5 Deposit Composition 2019 2020 2021 2022 Interest Bearing Noninterest bearing Certificates & Time Deposits $5.9 $9.1 CAGR 16% 0% 25% 42% 52% 15% 27% 36% Interest Bearing Deposits Total Deposits Cumulative change in deposit costs over cumulative change in average Fed Funds effective 5 Rate Hike Beta Trends Strong deposit management; CAGR of 16% Int. Bearing Rate Total Deposit Rate Average Fed Funds Effective 5 Rates and Average Fed Funds Effective 3.65% 2.12% 1.46% 0.12% 0.26% 0.17% Spot rate for total deposits as of Dec. 31st was 1.98% $2.1 $2.6 $4.4 3Q22 4Q22 Interest Bearing Noninterest bearing Certificates & Time Deposits $9.1$8.7 $2.1 $2.6 $4.4 $1.6 $2.8 $4.3 +17% $6.5 $7.4

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14 Operating Noninterest Income/Expense ◊ Government guaranteed loan income increased $7.2 million primarily due to increases in the gain on sale of USDA loans through our wholly owned subsidiary, North Avenue Capital, LLC ◊ Customer swap income decreased $1.1 million primarily due to decreased trades executed during 4Q22 compared to 3Q22 ◊ Equity method investment income decreased $4.4 million primarily due to the increase in interest rates and the corresponding impact on volume 4Q22 / 3Q22 Noninterest Income Comparison 37% 36% 20% 17% 4% 55% 24% 16% 15% 14% 3Q22 4Q22 Service Charges & Fees on Deposit Accounts Loan Fees Govt. Guaranteed Loan Income Customer Swap Income Other Gain on MLHFS $13,021 $14,326 Note: Excludes noninterest income line items in a loss position ◊ Salaries and employee benefits increased $3.3 million, or 11%, from 3Q22 primarily due to new talent hires made late in September with a full quarter of expense recognition in 4Q22 and additional new hires during 4Q22 coupled with increases in lender incentives and inflation ◊ Professional and regulatory fees increased $683 thousand, or 18%, primarily due to the Company's increase in regulatory service fees and an increase in FDIC assessment fees due to an increase in asset size 59% 58% 9% 11% 9% 9% 7% 7% 7% 8% 5% 4%4% 3% 3Q22 4Q22 Salary and Employee Benefits Other Occupancy and Equip. Data Processing Prof. Fees Amort. Of Intang. Marketing $50,607 $56,729 4Q22 / 3Q22 Noninterest Expense Comparison Efficiency ratio 47.6%

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15 ($ in millions) Gain on Sale % Total Volume $667.0 $565.2 $626.6 $603.5 $414.2 4Q21 1Q22 2Q22 3Q22 4Q22 3.60% 3.31% 3.41% 2.81% 1.89% 4Q21 1Q22 2Q22 3Q22 4Q22 ($ in millions) (Investment completed on July 19, 2021) Government Guaranteed and Thrive 5 Thrive Mortgage, LLC 5 Government Guaranteed SBA Pipeline Quarter over Quarter $14.8 $21.5 $25.4 Thrive is continuing to reduce its expenses and head count across the organization. $56.8 $7.1 $26.2 3Q22 4Q22 USDA Pipeline Quarter over Quarter $307.6 $349.1 $106.2 $291.9 $418.1 $185.3 3Q22 4Q22 Full Year 2022 – Closed $117 million Full Year 2022 – Closed $40 million $895.3 Million$762.9 Million $61.7 Million $90.1 Million

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16 8.58% 9.09% 9.09% 4Q21 3Q22 4Q22 CET1 Total Capital 11.60% 11.68% 11.63% 4Q21 3Q22 4Q22 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 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 11.63% 9.34% 9.09% Capital in Excess of Buffer $250.8 $154.8 $140.4 ($ in millions) $0.74 $0.08 $0.01 $0.05 $0.05 9/30/2022 Net Income AFS AOCI Hedge AOCI CDI Amort. SBC Expense Dividend 12/31/2022 $17.91 $(0.20) $18.64 CET1 focus with target 10%

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![](a4q22investorpresentatio017.jpg)

17 1 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. 3 Total Loans, excluding MW and PPP, ("TL") 4Q21 1Q22 2Q22 3Q22 4Q22 0.00% 0.10% 0.20% 0.30% 30-59 Past Due 60-89 Past Due 90+ Past Due 4Q21 3Q22 4Q22 2021 2022 Orig. $2,921 $62 $- $4,328 $360 Acq. $9,747 $2,127 $5,785 $19,653 $13,292 ($ in thousands) (% to average loans outstanding and annualized for quarters) ($ in millions) Totals: $9,997 $16,921 $7,373 $5,352 $21,468 Asset Quality and ACL Past Due Trend1 % of Total Loans2 Net Charge-offs ,467 ACL Increasing reserves reflect uncertain economic outlook 75 bps 12 bps 28 bps 38 bps 17 bps ($ in millions) ($ in millions) $50.1 $48.0 $45.0 $30.6 $43.6 0.51% 0.46% 0.40% 0.26% 0.36% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% 4Q21 1Q22 2Q22 3Q22 4Q22 NPAs NPAs/Total Assets NPAs / Total Assets NPAs include $13.2 million of PCD loans at 4Q22 2019 2020 2021 2022 PCD $127 $112 $58 $41 Non-PCD $2,889 $2,388 $1,763 $1,144 %/TL 53% 43% 27% 13% $3.0 B $1.2 B Acquired Loan Trend (PCD v. Non-PCD breakdown $ in millions) $6,295 $347.7 $340.9 $330.1 $312.0 $473.0 4Q21 1Q22 2Q22 3Q22 4Q22 $100 $200 $300 $400 $500 Criticized Loans ($ in millions, excludes PCD loans) Quarterly Criticized Loans 3 88% of NCO's since 2019 have been acquired credits

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![](a4q22investorpresentatio018.jpg)

1/24/2023 181/24/2023 18 TRUTH \| INTEGRITY \| TRANSPARENCY Supplemental Information

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![](a4q22investorpresentatio019.jpg)

19 Reconciliation of Non-GAAP Financial Measures

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20 Reconciliation of Non-GAAP Financial Measures

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21 Reconciliation of Non-GAAP Financial Measures

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22 Reconciliation of Non-GAAP Financial Measures

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23 Reconciliation of Non-GAAP Financial Measures

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1/24/2023 241/24/2023 24 2022 TRUTH \| INTEGRITY \| TRANSPARENCY Fourth Quarter And Year End Exhibit 99.2

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## Exhibit 99.3

**Exhibit 99.3**

![veritexseclogo.jpg](veritexseclogo.jpg)

**PRESS RELEASE**

***FOR IMMEDIATE RELEASE***

**Veritex Holdings, Inc. Declares Cash Dividend on Common Stock** 

**Dallas, TX – January 24, 2023** – 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 February 24, 2023 to shareholders of record as of February 10, 2023.

**<u>About Veritex Holdings, Inc.</u>**

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 <u>www.veritexbank.com</u>.

**<u>Forward Looking Statement</u>**

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

<u>investorrelations@veritexbank.com</u>

<br>