VBTX - Earnings call transcript Q4 2018

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Operator

Good day, and welcome to the Veritex Holdings Fourth Quarter 2018 Earnings Conference Call and Webcast. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the call over to Ms. Susan Caudle, Investor Relations Officer and Secretary to the Board of Veritex Holdings.

begin. may You

Susan Caudle

Thank you.

could obligation like forward-looking may are statements, presentation, no any risks revise harbor uncertainties Slide I'd remind beginning including that if subject our publicly started, this please refer X. anticipated and forward-looking you our on logged and to and that presentation get differ. include safe this we into to webcast, At to to results time, Before to actual The cause undertakes company those statement. you're statements our slide statement

For please made those on harbor presentation by statement. are of our you joining that today's available during note statement us phone, to are comments safe that harbor subject the All call website, veritexbank.com. safe and

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

today our me Credit Malcolm Holland, and Malcolm? Riebe, our CEO; Financial Chief Chairman Officer; are Terry Officer. Chief our Clay Joining Earley, and

Charles Holland

thank Susan. Good and you, everybody, morning,

these constant First uniting Bank and over towards and X Veritex has the announcements. to trust together to months a parties great pulling build an Mehos we couple want foremost, Last Terry some the very start special. family. team with work I support exciting Manny for past personally towards months, incredibly seven like working companies. the to his of thank experience Green as I'll few two the entire Bank officially with all Earley January welcome and I closings, positive Green been to

to February for approval we finalized $X.XXX on of stock adopted per shareholders up buyback has $XX our received dividend February board first million of X. share common payable during a and our for of XXXX. on XX agreement Our And of have record quarter

EPS quarter of was of quarter and fully results. the for operating EPS quarter an diluted $X.XX We recorded Now fourth on encouraging $X.XX. to Fourth Veritex.

We Veritex or strong the Texas lending of billion. for record eighth continue with while $XXX of very million annualized. That's growth to loan in billion just XX% marked in of market originated commitments during the loans combined new short originated loan billion, increasing Green $X.X $X.XXX Veritex year Veritex. net XXXX see new almost loan commitments. $X a excess quarter consecutive

active net Our be loan XXXX and in pipelines confident low digits. our remain double and extremely growth that will full, the we're

Texas economy Our strong. is

Our economy. X.X% respectively. state-wide unemployment and rate jobs XXX,XXX with DFW, continued of of and robust rates a remains at XXX,XXX historic new Texas

core provide movement. on remained from NIM X.XX% last assets nonexistent. we quarter. has and additional X.XX% the a in NIM from our upward last Terry As increase few produced Net had quarter, were some The point strong. during a mentioned some felt decreased quality the color very X.XX% year quarter, quarter Nonperforming basis will acceptable X X.XX% moments. virtually remained the concentrations at for charge-offs Credit to to levels.

of was keenly all focused for we XX.X% the December XXXX. majority obtain we data this or acquired the year deposits Recognizing portfolio appropriate up-to-date business in Veritex continued portfolio. Green our categories, extremely current to calendar this of to be review that of are loan available $XXX to making outstanding deposit markets. business. the continue the our completed of the the grew to marks growth Bank Additionally, of The competitive side a and the the be million most on in side interest-bearing

forward by management merger with We're such opportunities to also of efforts, as manager We Green. the have achieved new deposit a our the plans focused treasury grow customer division. new levers deposits, available to multiple incentive provided core creation to of and looking sales relationship continue the scale HLA

for some the turn over I'll numbers. Terry to color our Now call additional on

Terry Earley

did down good in good including definitely to numbers want combined the news should it by the start this does the Malcolm now But the everybody. power results. of presentation by and discussion best. importance the and to sense that transparent quarter, along of drill acknowledging certainly release, are was Green in totally I Good led some to highlights I financials, new with press the into job approach the company. conclude to you acquisition the of the Green covering and morning, earnings results the long. major try there for a give of very a us it make desire Veritex be to

of the and companies the most my while to stand-alone I'm on comments required, important operating going reporting Finally, even combined basis. a is on focus results, though GAAP certainly reflect slides

Turning to key financial Malcolm results on has deck. Slide the X quarter. the already commented for in the

TBV year in growth estimates that marks sheet the On work just minute in correct value couple spend change the per will aggregate. fully a want on ending of adding sheet net that companies but earnings a its $XXX the and other there so for $X.XX diluted Obviously, The the cost again translates cost of impact of quarter earnings $XX.XX. share the in and combined sheet a Veritex materially you on should The underway, points. upfront closing balance for X annualized I the the applying X, focusing So and merger remain marks tangible QX income saves Green book materially with share, XXXX Veritex rate for balance by This growth, and This totals $XX.XX value marks. and combined and rate give balance per before fully remains get please and in run is value from to on annualized. into still operating level of the Slide Green exchange for the January earnings the at everyone stand the the fourth merger. the million, shares and both earlier dilution diluted fair merger. with power note at Veritex confident tangible book the

cycle. power later the strong the I've level the will level to move this The be show in actions companies merger, result the of capital and two significantly operating lower management buyback. Turning the and These the of the dividend with excess the the these talking higher should well the significantly of about initiation later from by coupled announcement merger Both On forward. tangible This and X demonstrate the X, bodes earnings common basis of as the very contribution going on credit already producing carried earnings the preprovision companies operating and we merger. of both in we on saves capital next Clearly, related an been slide. before pretax returns equity efficient results. of being earnings are to graphs well. benefits operating as were companies companies cost preprovision the see operating Slide pretax

for remember, remains of of savings in loans, late the were in Management DDA held-for-sale, $XXX on On planned almost growth cost portfolio and work planned a XX, loan real Austin achieved expected excluding Green's as XXXX. the growth we announced represents of that the from Loan ability to the earlier. departures QX. beta, is activities. confident almost small QX integration or where QX Malcolm the we and combined the XX% achieve combined impact saves total late production loan the other basis, in branch please increase consider of With loan scheduled concentrations have continued low increase. to million approximately basis, number Commercial the classified a on XXXX that On and non-interest-bearing to Total in be The the XX% loan constraint a and conversion and steady was growth XXXX. deposit and a and the are mentioned and estate almost which second not $X.X floating This increased XX% the growth will realized integration. be the billion of should through the is almost the of remained our to XXXX approximately of with as in approximately go combined merger XXXX. QX in distraction divestiture $X back-end was cost overall cost-saving rate. deposits. Slide to double-digit in close XX% spite bulk was on will the billion been branch But portion in end quarter, level QX that loaded. consolidations employee XXXX There's in Austin late from

Additionally, other the given the offices. business billion banking XX expense only provides synergies model with branch-light $X.X in deposits

XX. Slide to Turning

QX increase nature loan Now Veritex both rates to in the our of the in X.XX%. QX combined for floating-rate and was QX from net the margin contractual Green interest portfolio, highlights interest -- loan and

borrowings; rate rate into both result and range a X.XX% of we and X.X%. loans and interest shift Fed in XXXX, the First, the This marks assumes no is company the of: the increases margin net mix a out on time liabilities. and investments; and look marks earning the on expecting purchase deposits favorable range in is to a fund second, interest-bearing assets accounting third, As

loss Slide standards credit XX, net been mark to marked Malcolm and end of it Veritex as was and on that, With performance. protection that provide loan merger, reflected turn to the slight post I'd provisions. and Veritex Also credit considerable continued Green to that earlier, shown credit now stability Finally, as show with part charge-offs XX% Malcolm. relates to carries since downside market continues considerable and the has QX and back the note that to the has NPAs, in in to exceptional approximately loss a loan Green a to should QX. decline at of credit NPAs important year-end portfolio like improvement recall stated the It's right isn't refreshed before call underwritten

Charles Holland

Terry. you, Thank

have and imagine, of and well. two might and moving we of integration institutions. you right determinations have Personnel consolidating is As company-wide. systems made extremely teams management going The now lot a communicated our our been parts

we XXX% our a Other with ever Green hiring full-time our the retention the us months, side engaging offered customers. Director first and producers agreements agency to Green connect last to highlights better key acceptance Over from brand with include training XX rate.

growing never us Candidly, seen this much while Additionally, our together. CIO a similar-size technology and new I've in lead just Technology Chief area. between coming institutions our Officer collaboration communication to hired

enhance goal great by the opportunities and to time, institution in it will together deal XX. excitement -- be accomplish, XXXX and June the our a new any of company about monitor we us questions. majority to beyond. our stronger each to scale of what a one to can at take is have new we'd was answer Increased than independently. best have We'll build better completed Operator, we of produce our of and and happy and Veritex of countless this either We a work continue

Operator

Stephens. question [Operator Instructions]. from And comes our of line from Matt the first Olney

Matthew Olney

capital. want start I to on

program, interesting repurchase the dividend. some announcements stock last the had You far night as as

an of insurance forma Curious about think you pro with this ballpark first the stock in do make the guess, about I'm on make again? all expect there? then, $XX case active TC I to the ratio policy below the to they thinking Bank, a more X.X% to TC How Green And buyback. Is be? I'm in ratio, right down Am want sense. the gets in on quarter. I this I sure right.

Charles Holland

ahead, Go Terry.

Terry Earley

Yes, Matt, Terry. it's

take me question your first. Let last

I you end ballpark higher the than of little think would -- would are on QX. it And bit view to -- do the in right a at I TCE more on put respect insurance policy, I I number you as with an although I buyback, it did. don't probably the

You used $XX.

-- there. just let's leave let's that So

with need of company it's excess need capital the lot think the generate of great that, plenty to to certainly earnings if is capital make two stay and to power, the this to and would risk support last given so our problem a to I have. dividend markets. But we is we'll I a -- point in profile, going even the we're buy our back, growth have we -- going

Matthew Olney

a Okay. I remarks, cost saves in think on the recognized cost And said the prepared That's was then of small portion the the end that XXXX. were of perfect. you savings, there at

would back, on timing be So the savings? kind form provide you those timing the expectations other change think us of just cost of any can taking the back-half a of you can said loaded. in step saves? color for Any and I you up the cost they cost-saving overall

Terry Earley

like anything I writes there and NIM carefully, Well, give you'll felt guidance of on gave who needed a on bit. the guidance everybody was wide, QX, clarify we consolidation it we will tighten in efficiency half have guys saves felt good June, the didn't when chose because things, the to especially up you things to need remarks say the us your and whether range you're saves there. that or note because like job felt a and we be you on year, so that is operational there was those you've out to in but little really like And the and We we NIM. in like -- on saves see because general realize when start nonpersonnel have -- and view the conversion additional related done and the going cost of personnel my got first to it through that. And that's pretty will I

So there. leave I it don't I'll just know, probably

Charles Holland

think I save number, virtually the we the total it had within Yes, originally number, deal looked moves you're --- when we've originally on the cost but is at that the the same. we

Operator

question the from Gailey Brady KBW. from comes of And line our next

Brady Gailey

this accretion So XXXX? margin How be about all the are I'm you that. the core out much through trying I figure yield of flowing got XXXX X.XX% just to year? the guidance NIM X.XX%, for NIM to will thinking the how

Terry Earley

are of me yield to say, to range. notes, X. to Well, basis X in maybe XX my on estimates probably X side X, X to loan look the back at My let the points sorry, accretion

Brady Gailey

somewhere margin low core kind of So that... the range? in Does high X% X%,

Terry Earley

no. Not yet. No,

When liability side. Let's X to X on to X the some say there's the the loan be and portfolio, portfolio I bps there's another on X on investment careful.

So up as this. assets see December might core I way the increase, lot. as doing earning be about well Fed I NIM the think the both handful points, a basis of don't that's It but from a

Brady Gailey

the you're big ask the And This to Right. I year get how I and year. a be -- about until But half of know then at a least feels the M&A. the all of it thinking Okay. you've early all M&A both past. not back little a know $X focused are mean, not half Green for billion. on in the and That's are be How into Veritex it going you on helpful. you'll you But deal. around XXXX? is billion, I ton this year have the and acquisitive first front, M&A been got if just deal pretty for $XX so you room of to about full

Charles Holland

We XXXX. mean, half us. big about it head. a of This really, for are on you hit back the we're the thinking about the I -- nail of is thinking it deal both

piece. We to are really been X/XX well. focused making small we smaller of until discussion and And little do between of exceedingly integration get on now through and to there's zero in this even table it the X/XX. done goes we data lot bunch is that get piece we've converging have It's our well, the stuff a can September. But But a M&A a here. piece, has sure going it's treasury got a off

road. down we optionality in we'll can we those we the And deliver, to those do of deliver decisions some we're can do that then half what are can back the think the so we to decisions. some make and have make we we think in what going and But going if year of XXXX

Operator

next Milsaps Sandler comes Brad from our question from O'Neill. of And the line

Bradley Milsaps

discussion. you includes core looks changed the the like in you Terry, to then wanted that follow any above some whole expected that it, piece. correct? and on to purchase degree accelerated It presented define the you thing accounting NIM the up of maybe that way sort level is NIM, core some Is as of just

Terry Earley

got loan the a it's is buying you And In when correct. life. accretion Yes, there's decline stays materially, in fourth in XX the look a QX, view, that the a down which -- accretable discount. portfolio accretion NIM. look different yield, level drove remaining look you same. the stand-alone the quarters it and at one, than no at bond exactly the But if at marks, we buying like and the And scheduled -- it at is quarter, Veritex's my if take is the the was got

as to those really And life pretty so be on an it got quarters. core needs a marks, a just And that in considered it. left think bodes XX and that long you ongoing because if stream will, I revenue well, life has it's

as announced balance anything So the the view to mark there's of out we because And that's into ought deal. a that -- And it. scheduled when my why of the above deal part you accretion lumpy the I yield call we've is sheet changed, yes, that reflecting changed you -- we've that guess, that's if way ought that, then and treat and we to that unusual. priced

Bradley Milsaps

Got it.

So X.XX% would accelerated or to the expected? the that's everything, X.XX% and just include the the expected

Terry Earley

the That's expected.

Bradley Milsaps

Okay.

could something -- could there get then accelerated? if you So it upside, be

Terry Earley

Correct.

Bradley Milsaps

said, that you any here? comfort have new expressed marks because you kind with expenses does update that So then, of And like new out? Okay. on were the include you CDI efficiency

Terry Earley

CDI, we the the impact include of have merger. out estimated the both CDI does wiping Yes, positive the and -- Green the -- it from

CDI really to in it's going on yet Now what filed our don't was I just but work S-X. is materially the from change think not complete, the

Bradley Milsaps

And then Great. Okay. question fees, specifically on just a final SBA.

think correctly, flip-flop, may sound on product, kind you how you I kind read SBA would like a do did combined just of, if Veritex kind what's guys had a that with good Maybe all that but quarter. curious of have about on of I think with -- going pretty basis? that, it

Charles Holland

think both in leading Green a mean, it. Yes, going it's guy active to slowed fairly for but is major down we be a had still folks very we'll that bit, The I -- focus it us, companies. still little and has us We're there. we're think understandably We be active.

-- you that's or USDA are looking kind so a as we're But those at and of what lumpy, million quarter $X.X think -- know. in we're about I SBA.

now very The XX-year little a pretty bit right So product really next show because a product, for XX-year is us. down. would and just quarter But great the pricing. still can deals focus some get of a up have pricing. you those you to still difficult that's be good much The quarter USDA the sell and

So we're for we'll to piece what what make next have But the a it's are. year. markets going those decisions major on depending of still

Terry Earley

But is premium tagging USDA you XX%. on, the great the split product thing the over don't have about to

great even even Malcolm I with. It's but agree economics what So going have going and lumpy, more focus the said, forward to totally better. of rest were us it's the for

Operator

Gary the D.A. question Davidson. next from Tenner of our line comes And from

Gary Tenner

the of I Couple any fee of Some than fees of structure the items? have though. the fee X difference whether in combined there or answered. be there questions types sort meaningful of where of for would questions, any are company, materially, of terms maybe companies' just my been guess, fees the differed categories combination

Charles Holland

No. I accurate. mean, -- definitely really very accurate. to think, a them nice products, be treasury I fee I think Green is going combination which the product we're combining noninterest adopting. But had is together, income

Terry Earley

interest place footprint. I we it's synergies, Green see the Green do the where like customer that's customized swap the across to and treasury to expand see revenue business. the within think leverage code Veritex that rates management they footprint across we'd something And the trying -- Veritex

So It's growing Malcolm's it. and on focusing -- but just it and combining right. thus it

Gary Tenner

swap thoughts or and with actually, sort of and larger rate a this not moderating any of knowing this Fed are point where prospects as rate the in you the amount terms the And your cycle? mentioned, sensitivity at the of nature, business, and the of pause adjusting swap in that in you go book loans floating they'll noted after

Terry Earley

not pretty to to not asset fixed with the where the quarter. have, I'd I help run We're asset want commercial asset got done we've I'm the the sensitive. I'm for we owner-occupied drive estate pro down say in deposits but is. it's basis think that where from need we I neutral, in sensitive, pretty I And comfortable now of institution. with the -- we've sensitivity the don't duration use see or the comfortable businesses. we're come half operating certainly some us real are. -- lending with liability on already combined quarters. book three back the We've rate Well, we modestly forma run It's moderately And

to We'll do continue So it. we've the got that. ability to do

the I neutral. us side. help like think it deposit And it keep do I us on will what can

feeling good pretty there. So

Operator

of And question Daniel from next Mannix our line Raymond James. from comes the

Daniel Mannix

updated I with here. to Appreciate wanted outlook credits. the start

want those in So to PCI you regained update metrics like loans on Clay, quarter, to give look maybe an the ask, XQ? credit X nonperforming us last quarter. moved footing Can that their were this

Michael Riebe

Sure, can. we

The a basis first industry, performing and auto today. in loan credit on the that that was resolved is

the in expected space, The we and resolve a the fourth That quarter X are in oil one refinance. that not has other credits through place. gas to taken

the year. gas And this credit. another and that final in QX work today, resolve we that's that credit to bankruptcy expect in oil continue the to of was credit We and

Terry Earley

marks Valuations or credits. on of anything additional have stayed No stable. those any pretty

Daniel Mannix

Got it.

So reserved? adequately

Terry Earley

Yes.

Michael Riebe

sir. Yes,

Daniel Mannix

Great.

guess, there of decline switch deposits great And and much do to transitory -- commercial, Okay. were deposits. how Look then XXXX? over nature. really year fourth and I declines in totally I How or, mean, the the like toward trending tilt sequential costs core but you and see is what wanted a that just was in seasonal growth I third higher to after I betas, quarter. quarter those understand in loan deposit impacts how that this

Charles Holland

flattening, robust. we is yields guess, at loan do cost. of But have our I loan isn't is for news the that competitive. probably it up dollars. that in sat while of we bunch This are in to whatever continue probably in good and that, But around move those a those a there of least the We so the terms we company as word, reinvested that is they pull. happened days, third sales did XX move have seen challenges. We XXX our are substantial, monies but quite that know couple growing. side, market The locally deposit and one deposits still still levers right were to up our quarter side. with some Seasonal they It's largest very were to did opportunistic large is, on of they

is price, the relationship still next getting to for of which mind managers -- that's a good competition team, the and is our be it is so But top it's it's yes, But got of just at year. our my encouraging feel all frequently us. growth And but management about lesser something it's subject. talked we the same, most I to think, about

Terry Earley

I for think of view it us. we the incentive that lender plan increased we've the also it challenge support our importance to in weight in give represents

hopefully So well. contribute will that as

Daniel Mannix

Yes, on deposit strategies. those growth that's really color helpful. I appreciate additional the

are to still wanted the you ratio they XX% are confirm targeting that combined -- just So loan-to-deposit for company?

Terry Earley

Yes, sir.

Operator

And our question comes the from Capital Bill line next Management. Tieton of from Dezellem

William Dezellem

I had a couple of questions.

Terry, up of when I should of combined had when XX% the versus accretion And all, mentioned then number secondarily, entity please your, we First you roughly benefits was Is employee combination I salaries by guess, taking on and us Veritex's annualized. that? walk through you'd noted $XXX,XXX was that be that announced? say, that third the $X.XX behind quarter. the earnings Would was you should what the and that originally that

Terry Earley

first on there salaries. Let start Veritex the

I playing that there's into things in think are X the the line. increase salary

First the our by bankers. is driven by by growth incentives -- production and variable

them. growth for strong better This into incentives strong. was translated it So

actually though, Secondly to has fund down. now was that going had though going was a of Veritex that what production about lot And a And was we been quarters on. up. even growth, was of lot production several think I for talking

So little. a production down was

was deferral less. cost our under So FAS XX

what's combination of incentives higher the salary cost to is and contributing so And the deferral lower line. variable

question, I went On blank... the second

Charles Holland

$X.XX. the on Is

Terry Earley

as jump we before we number things. look, into think of XXXX Yes, -- off indicative earnings you are that what gave think because it's that's I -- our run I $X.XX. those rate I

think rate our guidance. were certainly run would here July going generally earnings didn't be. exactly guidance not comments what And change that giving But comments know and XX that or our on QX and -- so sitting that to everything still we're I -- we

NIM it puts we merger. that you respect of to when X.XX%, EPS when a announced range a in you to it's So -- the the with X.XX% get in originally to discussed place we -- similar of accretion accretion

William Dezellem

doing $X.XX, on is don't as we that to annualized, just -- sure opposed accretion the correct Veritex want make XX% base start the the that be the wrong to that's I base. on And combined only? to a Or using

Terry Earley

Well, the announcement on -- expectations it based at EPS on for was gets you the Veritex comment based merger to XXXX. the -- was Veritex's

Green shares mean, you're in as diluted well. you're earnings, in layering I So Green but layering fully the the

was So you the what we into gets different, really if will, that about range, of the where you right calculation but you think XXXX saying performance. suggested I'm

Operator

Stephens. question our the next Matt comes line from from of And Olney

Matthew Olney

I result of as the be just expecting. the onetime for a amount expenses timing kind the the of and we to wanted acquisition, understand XXXX should

Terry Earley

Terry. Yes, a lot timing, the first I would be some the of et deal and loaded, the that to advisory there will year. cost them X/X QX And about Matt, it's them of of we We -- and front-end severance, of want have cetera. half we to go be estimate with closing in the and the

a about -- have towards over X/X little we certainly QX go I weighted So -- again, would with, QX. about to got be think and I say bit will that

Matthew Olney

at than think I credit that was that color, clean-up tell larger or seen side, just Green you quarters Bank anything there Green is the a charge-off Any charge-off on can we've a few for then And now. general Bank? us about Okay. or in

Terry Earley

provided related that for. health Yes, QX that the in care and identified to charge-off credit Green syndicated

we enough done bankrupt on down what bankruptcy that bankruptcy, will, felt its into we the company clarity were so cleaning portion, and right that get just unreserved so and to was paid far up. during resolved it real was and And had along Green went QX, we be needed that XX/XX. to gotten if in charge-off that It'd on you -- and that

Matthew Olney

at levels looks Green Terry, that, fell Bank. of like outside non-accrual And it

there Bank assume there's other or Green color details I any no credit on other So the piece?

Terry Earley

No, it's actually moving in direction. the right

Matthew Olney

Perfect.

Charles Holland

going the portfolio. make the to that And on marks that's all we're before

feel we really good their So about portfolio.

Matthew Olney

that Or has at some looked talked about believe that $X margin to Okay. was the sub-debt with on circling and discussion, I the still last And preferreds rates trust then we number? mark I maybe back around right the time and volatile? ballpark that moved that Is million. my around notes being

Terry Earley

than you're think -- work as I been I still number. it's side investment moved that the mark think I'm moved the balance back think ballpark. the up more same But on -- things, in still down. and that and loan the still side on general so about January. That sheet I rates have in using, far on probably the focused of liability we've

Matthew Olney

do what's that? how just one moving I sub-debt take the about duration on And the of think something the on first like pieces? of So that some part, duration these

Terry Earley

Well, December coming 'XX, the no-call XX-year, Green's the put which was bulk the of out sub-debt, X. in a of on it's marks of

X when issued, was to expensive run. it expect years they the when would got we you refinance So to time actively It and comes.

about So that. would that's the I think way

be mean, going I've think marks in have career, relatively they seen more CD portfolio don't it's It's year. of most other of a than advances -- are to that's and months, entire so I are is don't Home the short. Loan as the a of on average a The The -- Bank liability duration what CD is [indiscernible]. about inside ever book -- XX with probably long duration my all I lives. Federal

Matthew Olney

And what loan about side, that? your the duration guess on best the of What's Terry?

Terry Earley

years. effective about is portfolio. duration that's And the at probably to I the the in yield, same years. It's got NIM got and the investment an would portfolio. X the true right talked it's about investment X.X -- say X probably I pickup

it So on as it's well. tail got good a pretty

Operator

the I'm at call turn Instructions]. this [Operator to like I'd showing to remarks. Malcolm closing no And time. back questions for

Charles Holland

and very today, attention anyone calls one. much. needs for any afterwards if Thank everybody's you Appreciate we're available

Operator

you conclude program, all a may for This you conference. and thank the great today's disconnect. gentlemen, and in Everyone, day. participating Ladies have does

Veritex (VBTX) 29 Jan 192018 Q4 Earnings call transcript