Legacytexas Financial Group Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019
April 23, 2019 at 04:50 pm EDT
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LegacyTexas Financial Group Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced net interest income was USD 81.164 million compared to USD 78.613 million a year ago. Net income was USD 29.080 million compared to USD 25.762 million a year ago. Basic earnings per share was USD 0.61 compared to USD 0.55 a year ago. Diluted earnings per share was USD 0.61 compared to USD 0.54 a year ago.
LegacyTexas Financial Group, Inc. is a bank holding company. LegacyTexas Bank (the Bank) is the Company's principal operating subsidiary, which is a commercial bank that is focused on meeting the needs of businesses and consumers in the North Texas area. Its principal business consists of attracting retail deposits from general public and business community and investing those funds, along with borrowed funds, in commercial real estate loans, secured and unsecured commercial and industrial loans, as well as permanent loans secured by first and second mortgages on one- to four-family residences and consumer loans. Its Warehouse Purchase Program allows mortgage banking company customers to close one- to four-family real estate loans in their own name and manage its cash flow needs until the loans are sold to investors. It offers title services, as well as brokerage services for purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement.