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Legaxy Texas Financial Group(LTXB)

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PM koopt aandeel LTXB aangezien hij nabeurs strke resultaten verwacht gevolgd door een stijging nabeurs en stiging morgen .
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Profitmaker schreef op 19 april 2016 15:56:

PM koopt aandeel LTXB aangezien hij nabeurs strke resultaten verwacht gevolgd door een stijging nabeurs en stijging morgen .
LegacyTexas Financial Group, Inc. Reports Record First Quarter 2016 Earnings of $22.1 million
16:15 ET from LegacyTexas Financial Group, Inc.


PLANO, Texas, April 19, 2016 /PRNewswire/ -- LegacyTexas Financial Group, Inc. (Nasdaq: LTXB) (the "Company"), the holding company for LegacyTexas Bank (the "Bank"), today announced net income of $22.1 million for the first quarter of 2016, an increase of $5.6 million from the fourth quarter of 2015 and $5.8 million from the first quarter of 2015.

"I am really pleased with the quarter and the way we continue to execute on our strategic plan," said President and CEO Kevin Hanigan. "Not only did we report record earnings, we grew our loans at a mid-teens rate, bolstered our reserves and managed our expenses to achieve a sub 50% efficiency ratio. This quarter demonstrates our focus on execution and the earnings power of this great franchise."

First Quarter 2016 Performance Highlights

Net income of $22.1 million for the first quarter of 2016 was a record high for the Company. Core (non-GAAP) net income for the same period totaled $19.9 million, which excluded gains realized in the first quarter of 2016 on the sale of two buildings and other one-time items. On a linked-quarter basis, non-interest expense and provision for loan losses declined by $1.5 million and $2.4 million, respectively, while net interest income increased by $1.6 million.
Gross loans held for investment at March 31, 2016, excluding Warehouse Purchase Program loans, grew $202.8 million, or 4.0%, from December 31, 2015, with $174.2 million of growth in commercial real estate and commercial and industrial loans, and $35.4 million of growth in consumer real estate loans.
The allowance for loan losses allocated to energy loans at March 31, 2016 totaled $17.4 million, or 3.3% of total energy loans (including both reserve-based and midstream), up $5.4 million ($0.12 per share on a pre-tax basis, $0.08 per share after tax) from $12.0 million at December 31, 2015.
Efficiency ratio improved to 48.96% for the quarter ended March 31, 2016, compared to 51.85% for the fourth quarter of 2015 and 54.58% for the first quarter of 2015.

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