Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Veritex Holdings, Inc. |
Entity Central Index Key | 0001501570 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Year SCT Total Compensation for PEO ($) Compensation Actually Paid to PEO ($) Average SCT Total Compensation for Non-PEOs ($) Average Compensation Actually Paid to Non-PEOs ($) Value of Initial Fixed $100 Investment Based on: Net Income Diluted Earnings Per Share TSR ($) Peer Group TSR ($) 2022 7,280,840 5,204,275 1,595,700 1,425,597 107.5 89.0 146.3 $2.71 2021 3,104,142 4,809,004 1,194,019 1,231,131 147.3 116.6 139.6 $2.77 2020 3,489,504 4,166,758 1,254,244 1,451,544 93.7 86.4 73.9 $1.48 | ||
Company Selected Measure Name | Diluted Earnings Per Share | ||
Named Executive Officers, Footnote [Text Block] | Mr. Holland served as the PEO for each of the years presented above. The non-PEO NEOs included for purposes of calculating the average non-PEO NEO compensation in each applicable year are as follows: (i) for 2022, Terry S. Earley, James Recer, Clay Riebe, LaVonda Renfro and Angela Harper; (ii) for 2021, Terry S. Earley, James Recer, Clay Riebe and LaVonda Renfro; and (iii) for 2020, Terry S. Earley, Jeff Kesler, Jon Heine and Clay Riebe. | ||
Peer Group Issuers, Footnote [Text Block] | In addition, the table compares our Total Shareholder Return (”TSR”) against peer group TSR, using KBW Nasdaq Regional Banking Index as our peer group, which peer group was used for all three years disclosed below. | ||
PEO Total Compensation Amount | $ 7,280,840 | $ 3,104,142 | $ 3,489,504 |
PEO Actually Paid Compensation Amount | $ 5,204,275 | 4,809,004 | 4,166,758 |
Adjustment To PEO Compensation, Footnote [Text Block] | To calculate the CAP for the PEO, the following amounts were deducted from or added to the SCT total compensation: Year SCT Total Compensation for PEO Deductions from SCT Total 1,2 Additions to SCT Total 2 CAP to PEO 2022 $ 7,280,840 $ (5,529,257) $ 3,452,692 $ 5,204,275 2021 $ 3,104,142 $ (928,423) $ 2,633,285 $ 4,809,004 2020 $ 3,489,504 $ (1,895,596) $ 2,572,850 $ 4,166,758 1 Represents grant date fair value of equity based awards granted each year and deductions to SCT for equity award adjustments for 2022 which includes the one-time retention award for 150,000 time-based RSUs granted on July 1, 2022. 2 Represents the value of equity calculated (deduction/addition) in accordance with the SEC methodology for determining CAP for each of year show in the table below: Year Fair Value of Current Year Equity Awards Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year Fair Value at the End of the Period Year of Equity Awards that Failed to Meet Vesting Condition in the Year Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation (Deductions) Additions to SCT Total for Equity Award Adjustments 2022 $ 4,534,077 $ (1,629,851) $ — $ 548,466 $ — $ — $ 3,452,692 2021 $ 677,493 $ 1,990,492 $ — $ (34,700) $ — $ — $ 2,633,285 2020 $ 2,629,355 $ (129,805) $ — $ 73,300 $ — $ — $ 2,572,850 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,595,700 | 1,194,019 | 1,254,244 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,425,597 | 1,231,131 | 1,451,544 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | To calculate the CAP for the non-PEO's, the following amounts were deducted from or added to the SCT total compensation: Year SCT Total Compensation for Non-PEO Deductions from SCT Total 1,2 Additions to SCT Total 2 CAP to Non-PEO 2022 $ 1,595,700 $ (870,838) $ 700,735 $ 1,425,597 2021 $ 1,194,019 $ (242,832) $ 279,944 $ 1,231,131 2020 $ 1,254,244 $ (517,738) $ 715,038 $ 1,451,544 1 Represents grant date fair value of equity based awards granted each year and deductions to SCT for equity award adjustments for 2022. 2 Represents the value of equity calculated (deduction/addition) in accordance with the SEC methodology for determining CAP for each of year show in the table below: Year Fair Value of Current Year Equity Awards Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year Fair Value at the End of the Period Year of Equity Awards that Failed to Meet Vesting Condition in the Year Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation (Deductions) Additions to SCT Total for Equity Award Adjustments 2022 $ 649,725 $ (105,670) $ — $ 156,680 $ — $ — $ 700,735 2021 $ 189,373 $ 117,560 $ — $ (26,989) $ — $ — $ 279,944 2020 $ 722,887 $ (42,262) $ — $ 34,413 $ — $ — $ 715,038 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid and Cumulative TSR As demonstrated by the following graph, the amount of compensation actually paid to the CEO and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding the CEO) is generally aligned with the Company’s cumulative TSR over the three years presented in the table (dollars in millions). | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid and Net Income As shown in the chart below, the Company’s net income has steadily increased while the PEO and non-PEO NEOs’ CAP has varied significantly each year. This is due to the emphasis the Company places on equity incentives, which are sensitive to changes in stock prices. | ||
Total Shareholder Return Vs Peer Group [Text Block] | Cumulative TSR of the Company and Cumulative TSR of the Peer Group The charts below describe the relationship between compensation actually paid to our PEO and non-PEO NEOs (as calculated above) and our financial and stock performance. As noted below, the Company's 3-year cumulative TSR outperformed the companies included in the industry index (dollars in millions). | ||
Tabular List [Table Text Block] | Diluted Earnings Per Share Total Shareholder Return Pre-Tax Pre-Provision Return on Average Assets Return on Average Tangible Common Equity | ||
Total Shareholder Return Amount | $ 107.5 | 147.3 | 93.7 |
Peer Group Total Shareholder Return Amount | 89 | 116.6 | 86.4 |
Net Income (Loss) | $ 146,300,000 | $ 139,600,000 | $ 73,900,000 |
Company Selected Measure Amount | 2.71 | 2.77 | 1.48 |
PEO Name | Mr. Holland | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Compensation Actually Paid vs. Other Measure [Text Block] | Compensation Actually Paid and Diluted Earnings Per Share As demonstrated by the following graph, the amount of compensation actually paid to Company’s PEO and the average amount of compensation actually paid to the Company’s non-PEO NEOs as a group is generally aligned with the Company’s diluted earnings per share over the three years presented in the table. | ||
Measure Name | Diluted Earnings Per Share | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Pre-Tax Pre-Provision Return on Average Assets | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Return on Average Tangible Common Equity | ||
PEO [Member] | Deductions from Summary Compensation Table [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (5,529,257) | $ (928,423) | $ (1,895,596) |
PEO [Member] | Additions to Summary Compensation Table [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,452,692 | 2,633,285 | 2,572,850 |
PEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 4,534,077 | 677,493 | 2,629,355 |
PEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (1,629,851) | 1,990,492 | (129,805) |
PEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
PEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 548,466 | (34,700) | 73,300 |
PEO [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
PEO [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
Non-PEO NEO [Member] | Deductions from Summary Compensation Table [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (870,838) | (242,832) | (517,738) |
Non-PEO NEO [Member] | Additions to Summary Compensation Table [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 700,735 | 279,944 | 715,038 |
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 649,725 | 189,373 | 722,887 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (105,670) | 117,560 | (42,262) |
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 156,680 | (26,989) | 34,413 |
Non-PEO NEO [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
Non-PEO NEO [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | $ 0 | $ 0 | $ 0 |