Veritex Holdings Inc (NASDAQ: VBTX) stock fell over 4.5% on 23^rd July, 2019 (As of 12:08 pm GMT-4; Source: Google finance) after the company posted lower than expected results for the second quarter of FY 19. Nonperforming assets had totaled $43.3 million, or 0.54%, of total assets at June 30, 2019 compared to $23.1 million, or 0.29%, of total assets at March 31, 2019 and $4.9 million, or 0.16%, of total assets at June 30, 2018. For the second quarter, net interest income before provision for loan losses was $71.4 million and net interest margin was 4.00% compared to $72.9 million and 4.17%, respectively, for the three months ended March 31, 2019. Book value per common share was $22.55 and tangible book value per common share was $14.27 for the second quarter of 2019. Return on average assets was 1.36%, operating return on average assets was 1.63% and pre-tax, pre-provision operating return on average assets1 was 2.22% for the second quarter of 2019.

Total loans were $5.9 billion at June 30, 2019, an increase of 2.7%, compared to March 31, 2019. The increase was the result of the continued execution and success of the loan growth strategy.

Total deposits were $6.2 billion at June 30, 2019, a decrease of 2.1%, compared to March 31, 2019. The decrease was primarily the result of a decrease of $198.7 million in certificates and other time deposits, which was partially offset by increases of $29.0 million and $37.0 million in interest-bearing accounts and noninterest-bearing demand deposits, respectively.

VBTX in the second quarter of FY 19 has reported the adjusted earnings per share of 59 cents, missing the analysts’ estimates for the adjusted earnings per share of 63 cents. The company had reported the adjusted revenue growth of 35.9 percent to $77.5 million in the second quarter of FY 19, beating the analysts’ estimates for revenue by 6.09%.

VBTX has declared a quarterly cash dividend of $0.125 per share on its outstanding shares of common stock.  The dividend will be paid on or after August 22, 2019 to stockholders of record as of the close of business on August 8, 2019

Meanwhile, Veritex Community Bank during the second quarter has completed its previously announced sale of certain assets and liabilities associated with a branch in the Austin metropolitan market to Keystone Bank, N.A., thereby exiting the Austin metropolitan market.