Veritex Holdings, Inc. announced its first-quarter 2025 operating results, highlighting an increase in net interest margin and noninterest income. Net interest income before provision for credit losses was $95.4 million, a slight decrease of 0.7% from the prior quarter. However, the net interest margin (NIM) expanded by 11 basis points to 3.31%.
Noninterest income saw a significant increase of 42.1% to $14.3 million, primarily due to the absence of a $4.4 million loss on sales of debt securities recorded in the previous quarter. Noninterest expense decreased by 6.1% to $66.8 million, reflecting efforts in expense management. Loans held for investment decreased by $70.5 million to $8.83 billion, and total deposits decreased by $87.5 million to $10.67 billion.
The Board of Directors declared a quarterly cash dividend of $0.22 per share on its outstanding common stock, representing a 10% increase from the previous $0.20 per share. This dividend will be paid on or after May 22, 2025. Nonperforming assets increased to $96.9 million, or 0.77% of total assets, from $79.2 million in the prior quarter, while net charge-offs were $4.0 million, or 17 basis points annualized.
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