Allegiance Bancshares, Inc. (NASDAQ: ABTX) (Allegiance), the
holding company of Allegiance Bank (the "Bank"), today reported
record net income of $19.1 million and diluted earnings per share
of $0.93 for the third quarter 2021 compared to net income of $16.2
million and diluted earnings per share of $0.79 for the third
quarter 2020. Net income for the nine months ended September 30,
2021 was $60.0 million, or $2.95 per diluted share, compared to
$29.6 million, or $1.44 per diluted share, for the nine months
ended September 30, 2020. The third quarter ended September 30,
2021 results were driven by increased net interest income and an
increased provision for credit losses compared to the third quarter
2020. The nine months ended September 30, 2021 results were
primarily due to a lower provision for credit losses and increased
net interest income driven by lower funding costs compared to the
nine months ended September 30, 2020.
“This quarter was a period of outstanding focus and execution by
our bankers. We continued to experience growth as we saw
opportunities to grow deposit and loan volumes even though the loan
market remains very competitive,” said Steve Retzloff, Allegiance’s
Chief Executive Officer. “We are very pleased with our solid third
quarter operating metrics and credit performance,” commented
Retzloff.
“I could not be more proud of our team as I look back on a very
successful 2021 so far. Their hard work has been instrumental to
our growth as we welcomed and retained a significant number of our
PPP customers, evidence of our ongoing dedication to customer
service and the strong value proposition we offer our customers. We
believe our core strength is the unwavering commitment to service
that we provide to our customers and communities that consistently
yields an outstanding customer experience. As we look to the
future, we feel very well-positioned to execute our business model
and seize the opportunity to gain market share,” concluded
Retzloff.
Third Quarter 2021 Results
Net interest income before the provision for credit losses in
the third quarter 2021 increased $6.3 million, or 12.1%, to $58.2
million from $51.9 million for the third quarter 2020 and increased
$1.6 million, or 2.8%, from $56.6 million for the second quarter
2021.These increases were primarily due to changes in the volume
and relative mix of the underlying assets and liabilities, the
impact of loans within the Small Business Administration Paycheck
Protection Program (PPP) under the Coronavirus Aid, Relief and
Economic Security Act (CARES Act) as well as lower costs on
interest-bearing liabilities. The net interest margin on a tax
equivalent basis decreased 5 basis points to 3.90% for the third
quarter 2021 from 3.95% for the third quarter 2020 and decreased 12
basis points from 4.02% for the second quarter 2021. The decreases
in the margin were primarily due to the decrease in the average
yield on interest-earning assets, driven by the increase in cash
and securities, partially offset by the decrease in funding
costs.
Noninterest income for the third quarter 2021 was $2.1 million,
an increase of $249 thousand, or 13.5%, compared to $1.9 million
for the third quarter 2020 and decreased $174 thousand, or 7.7%,
compared to $2.3 million for the second quarter 2021. Third quarter
2021 noninterest income reflected higher transactional fee income
when compared to the third quarter 2020 and lower correspondent
bank rebates, included in other noninterest income, than the second
quarter 2021.
Noninterest expense for the third quarter 2021 increased $1.7
million, or 5.3%, to $34.3 million from $32.6 million for the third
quarter 2020 and increased $701 thousand, or 2.1%, compared to the
second quarter of 2021. The increase over the prior year was
primarily due to increases in salaries and benefits, as a result of
increased performance-based bonus and profit sharing accruals,
partially offset by decreased other real estate expenses as $1.9
million of other real estate write-downs were recorded in the third
quarter 2020.
In the third quarter 2021, Allegiance’s efficiency ratio
decreased to 56.91% compared to 60.58% for the third quarter 2020
and decreased from 57.07% for the second quarter 2021. Third
quarter 2021 annualized returns on average assets, average equity
and average tangible equity were 1.14%, 9.45% and 13.49%,
respectively, compared to 1.09%, 8.59% and 12.72% for the third
quarter 2020. Annualized returns on average assets, average equity
and average tangible equity for the second quarter 2021 were 1.42%,
11.87% and 17.20%, respectively. Return on average tangible equity
is a non-GAAP measure. Please refer to the non-GAAP reconciliation
on page 10.
Nine Months Ended September 30, 2021
Results
Net interest income before provision for credit losses for the
nine months ended September 30, 2021 increased $22.7 million, or
15.3%, to $170.5 million from $147.8 million for the nine months
ended September 30, 2020 primarily due to lower costs related to
interest-bearing liabilities as well as an $825.4 million, or
16.8%, increase in average interest-earning assets over the prior
year including the impact of PPP loans. The net interest margin on
a tax equivalent basis decreased 3 basis points to 4.03% for the
nine months ended September 30, 2021 from 4.06% for the nine months
ended September 30, 2020. The decrease in the margin over the prior
year was primarily due to the decrease in the average yield on
interest-earning assets partially offset by decreased funding
costs.
Noninterest income for the nine months ended September 30, 2021
was $6.1 million, a decrease of $29 thousand, or 0.5%, compared to
$6.1 million for the nine months ended September 30, 2020 due
primarily to lower correspondent bank rebates and gains on the sale
of securities partially offset by increased debit card and ATM card
income.
Noninterest expense for the nine months ended September 30, 2021
increased $8.1 million, or 8.5%, to $102.8 million from $94.7
million for the nine months ended September 30, 2020. The increase
in noninterest expense over the nine months ended September 30,
2020 was primarily due to increased performance-based bonus and
profit sharing accruals along with the reduced amount of deferred
PPP loan origination costs, increased other expenses and the
write-down of assets related to the closure of a bank office
partially offset by lower other real estate expenses as $4.1
million of other real estate write-downs were recorded during the
prior year 2020.
Allegiance’s efficiency ratio decreased from 61.67% for the nine
months ended September 30, 2020 to 58.24% for the nine months ended
September 30, 2021. For the nine months ended September 30, 2021,
returns on average assets, average equity and average tangible
equity were 1.25%, 10.30% and 14.89%, respectively, compared to
0.72%, 5.43% and 8.16%, respectively, for the nine months ended
September 30, 2020. Return on average tangible equity is a non-GAAP
measure. Please refer to the non-GAAP reconciliation on page
10.
Financial Condition
Total assets at September 30, 2021 increased $792.0 million, or
13.3%, to $6.76 billion compared to $5.97 billion at September 30,
2020 and increased $251.1 million, or 15.4% (annualized), compared
to $6.51 billion at June 30, 2021, primarily due to increased
liquidity, growth in the securities portfolio and the origination
of core loans partially offset by paydowns of PPP loans.
Total loans at September 30, 2021 decreased $302.9 million, or
6.6%, to $4.29 billion compared to $4.59 billion at September 30,
2020 and decreased $171.3 million, or 15.4% (annualized), compared
to $4.46 billion at June 30, 2021, primarily due to paydowns on PPP
loans. Core loans, which exclude PPP loans, increased $117.3
million, or 3.0%, to $4.00 billion at September 30, 2021 from $3.88
billion at September 30, 2020 and increased $37.9 million, or 3.8%
(annualized), from $3.96 billion at June 30, 2021.
Deposits at September 30, 2021 increased $749.5 million, or
15.2%, to $5.67 billion compared to $4.92 billion at
September 30, 2020 and increased $233.5 million, or 17.2%
(annualized), compared to $5.43 billion at June 30, 2021.
Asset Quality
Nonperforming assets totaled $29.8 million, or 0.44%, of total
assets, at September 30, 2021 compared to $46.8 million, or 0.78%,
of total assets, at September 30, 2020 and $38.0 million, or 0.58%,
of total assets at June 30, 2021. The allowance for credit losses
on loans as a percentage of total loans was 1.18% at September 30,
2021, 1.06% at September 30, 2020 and 1.11% at June 30, 2021.
The provision for credit losses for the third quarter 2021 was
$2.3 million, an increase of $1.0 million, compared to $1.3 million
for the third quarter 2020 and a recapture of provision for credit
losses of $2.7 million for the second quarter 2021, reflective of
the current uncertainty surrounding the economic impact caused by
COVID-19 compared to the prior quarter where there were
improvements in economic factors.
Third quarter 2021 net charge-offs were $450 thousand, or 0.04%
(annualized) of average loans, an increase from net charge-offs of
$291 thousand, or 0.03% (annualized) of average loans, for the
third quarter 2020 and $162 thousand, or 0.01% (annualized) of
average loans, for the second quarter 2021.
Dividend
The Board of Directors of Allegiance declared a cash dividend on
October 27, 2021 of $0.12 per share to be paid on December 15, 2021
to all shareholders of record as of November 30, 2021. The amount
and timing of any future dividend payments to shareholders will be
subject to the discretion of Allegiance’s Board of Directors.
GAAP Reconciliation of Non-GAAP Financial
Measures
Allegiance’s management uses certain non-GAAP financial measures
to evaluate its performance. Please refer to the GAAP
Reconciliation and Management’s Explanation of Non-GAAP Financial
Measures on page 10 of this earnings release for a reconciliation
of these non-GAAP financial measures.
Conference Call
As previously announced, Allegiance’s management team will host
a conference call on Thursday, October 28, 2021 at 9:00 a.m.
Central Time (10:00 a.m. Eastern Time) to discuss its third quarter
2021 results. Individuals and investment professionals may
participate in the call by dialing (877) 279-2520. The conference
ID number is 6951679. Alternatively, a simultaneous audio-only
webcast may be accessed via the Investor Relations section of
Allegiance’s website at www.allegiancebank.com, under Upcoming
Events. If you are unable to participate during the live webcast,
the webcast will be archived on the Investor Relations section of
Allegiance’s website at www.allegiancebank.com, under News and
Events, Event Calendar, Past Events.
Allegiance Bancshares, Inc.
As of September 30, 2021, Allegiance was a $6.76 billion asset
Houston, Texas-based bank holding company. Through its wholly owned
subsidiary, Allegiance Bank, Allegiance provides a diversified
range of commercial banking services primarily to small- to
medium-sized businesses and individual customers in the Houston
region. Allegiance’s super-community banking strategy was designed
to foster strong customer relationships while benefiting from a
platform and scale that is competitive with larger local and
regional banks. As of September 30, 2021, Allegiance Bank operated
27 full-service banking locations in the Houston region, which we
define as the Houston-The Woodlands-Sugar Land and Beaumont-Port
Arthur metropolitan statistical areas, with 26 bank offices in the
Houston metropolitan area and one bank office in Beaumont, just
outside of the Houston metropolitan area. Visit
www.allegiancebank.com for more information.
“Safe Harbor” Statement under the Private Securities
Litigation Reform Act of 1995
This release contains forward-looking statements within the
meaning of the securities laws that are derived utilizing
assumptions, present expectations, estimates and projections about
Allegiance and its subsidiaries. Statements preceded by, followed
by or that otherwise include the words “believes,” “expects,”
“continues,” “anticipates,” “intends,” “projects,” “estimates,”
“potential,” “plans” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing words. Forward-looking statements include information
concerning Allegiance’s expected future financial performance,
business and growth strategy, projected plans and objectives, as
well as projections of macroeconomic and industry trends, which are
inherently unreliable due to the multiple factors that impact
economic trends, and any such variations may be material. Such
forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties, many of which are
outside of Allegiance’s control, which may cause actual results to
differ materially from those expressed or implied by the
forward-looking statements. These risks and uncertainties include
but are not limited to whether Allegiance can: continue to develop
and maintain new and existing customer and community relationships;
successfully implement its growth strategy, including identifying
suitable acquisition targets and integrating the businesses of
acquired companies and banks; sustain its current internal growth
rate; provide quality and competitive products and services that
appeal to its customers; continue to have access to debt and equity
capital markets; and achieve its performance objectives.
Additionally, the impact of the COVID-19 pandemic continues to
evolve and its future effects on Allegiance are difficult to
predict. These and various other risk factors are discussed in
Allegiance’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2020 and in other reports and statements Allegiance
has filed with the Securities and Exchange Commission. Copies of
such filings are available for download free of charge from the
Investor Relations section of Allegiance’s website at
www.allegiancebank.com, under Financial Information, SEC
Filings. Any forward-looking statement made by
Allegiance in this release speaks only as of the date on which it
is made. Factors or events that could cause Allegiance’s actual
results to differ may emerge from time to time, and it is not
possible for Allegiance to predict all of them. Because of these
uncertainties, readers should not place undue reliance on any
forward-looking statement. Allegiance disclaims any obligation to
publicly update any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by law.
Allegiance Bancshares,
Inc.Financial
Highlights(Unaudited)
|
2021 |
|
2020 |
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
(Dollars in thousands) |
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and
due from banks |
$ |
23,903 |
|
|
$ |
146,397 |
|
|
$ |
141,947 |
|
|
$ |
122,897 |
|
|
$ |
327,416 |
|
Interest-bearing deposits at other financial
institutions |
879,858 |
|
|
564,888 |
|
|
482,383 |
|
|
299,869 |
|
|
19,732 |
|
Total cash and cash equivalents |
903,761 |
|
|
711,285 |
|
|
624,330 |
|
|
422,766 |
|
|
347,148 |
|
Available for sale securities, at fair value |
1,211,476 |
|
|
977,282 |
|
|
787,516 |
|
|
772,890 |
|
|
663,301 |
|
Loans
held for investment |
4,289,469 |
|
|
4,460,743 |
|
|
4,659,169 |
|
|
4,491,764 |
|
|
4,592,362 |
|
Less:
allowance for credit losses on loans |
(50,491 |
) |
|
(49,586 |
) |
|
(52,758 |
) |
|
(53,173 |
) |
|
(48,698 |
) |
Loans, net |
4,238,978 |
|
|
4,411,157 |
|
|
4,606,411 |
|
|
4,438,591 |
|
|
4,543,664 |
|
Accrued interest
receivable |
33,523 |
|
|
37,075 |
|
|
38,632 |
|
|
40,053 |
|
|
36,996 |
|
Premises and equipment,
net |
65,140 |
|
|
65,442 |
|
|
66,115 |
|
|
70,685 |
|
|
69,887 |
|
Other real estate owned |
1,397 |
|
|
1,397 |
|
|
576 |
|
|
9,196 |
|
|
8,876 |
|
Federal Home Loan Bank
stock |
8,326 |
|
|
8,234 |
|
|
7,775 |
|
|
7,756 |
|
|
9,716 |
|
Bank owned life insurance |
28,101 |
|
|
27,976 |
|
|
27,825 |
|
|
27,686 |
|
|
27,542 |
|
Goodwill |
223,642 |
|
|
223,642 |
|
|
223,642 |
|
|
223,642 |
|
|
223,642 |
|
Core deposit intangibles,
net |
15,482 |
|
|
16,306 |
|
|
17,130 |
|
|
17,954 |
|
|
18,907 |
|
Other assets |
29,935 |
|
|
28,871 |
|
|
31,038 |
|
|
18,909 |
|
|
18,072 |
|
Total assets |
$ |
6,759,761 |
|
|
$ |
6,508,667 |
|
|
$ |
6,430,990 |
|
|
$ |
6,050,128 |
|
|
$ |
5,967,751 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
LIABILITIES: |
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
Noninterest-bearing |
$ |
2,086,683 |
|
|
$ |
1,973,042 |
|
|
$ |
1,914,121 |
|
|
$ |
1,704,567 |
|
|
$ |
1,772,700 |
|
Interest-bearing |
|
|
|
|
|
|
|
|
|
Demand |
594,959 |
|
|
553,874 |
|
|
480,710 |
|
|
437,328 |
|
|
409,137 |
|
Money market and savings |
1,604,222 |
|
|
1,556,920 |
|
|
1,617,823 |
|
|
1,499,938 |
|
|
1,483,370 |
|
Certificates and other time |
1,381,014 |
|
|
1,349,522 |
|
|
1,361,535 |
|
|
1,346,649 |
|
|
1,252,159 |
|
Total interest-bearing deposits |
3,580,195 |
|
|
3,460,316 |
|
|
3,460,068 |
|
|
3,283,915 |
|
|
3,144,666 |
|
Total deposits |
5,666,878 |
|
|
5,433,358 |
|
|
5,374,189 |
|
|
4,988,482 |
|
|
4,917,366 |
|
Accrued
interest payable |
3,296 |
|
|
1,940 |
|
|
3,862 |
|
|
2,701 |
|
|
3,082 |
|
Borrowed funds |
139,954 |
|
|
139,951 |
|
|
147,517 |
|
|
155,515 |
|
|
155,512 |
|
Subordinated debt |
108,715 |
|
|
108,584 |
|
|
108,453 |
|
|
108,322 |
|
|
108,191 |
|
Other liabilities |
42,326 |
|
|
35,684 |
|
|
36,432 |
|
|
36,439 |
|
|
30,547 |
|
Total liabilities |
5,961,169 |
|
|
5,719,517 |
|
|
5,670,453 |
|
|
5,291,459 |
|
|
5,214,698 |
|
SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Common stock |
20,218 |
|
|
20,213 |
|
|
20,183 |
|
|
20,208 |
|
|
20,445 |
|
Capital surplus |
507,948 |
|
|
506,810 |
|
|
505,307 |
|
|
508,794 |
|
|
516,151 |
|
Retained earnings |
247,966 |
|
|
231,333 |
|
|
210,834 |
|
|
195,236 |
|
|
186,866 |
|
Accumulated other comprehensive income |
22,460 |
|
|
30,794 |
|
|
24,213 |
|
|
34,431 |
|
|
29,591 |
|
Total shareholders’ equity |
798,592 |
|
|
789,150 |
|
|
760,537 |
|
|
758,669 |
|
|
753,053 |
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$ |
6,759,761 |
|
|
$ |
6,508,667 |
|
|
$ |
6,430,990 |
|
|
$ |
6,050,128 |
|
|
$ |
5,967,751 |
|
Allegiance Bancshares,
Inc.Financial
Highlights(Unaudited)
|
Three Months Ended |
|
Year-to-Date |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
September 30 |
|
September 30 |
|
(Dollars in thousands, except per share data) |
INTEREST INCOME: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including fees |
$ |
58,176 |
|
|
$ |
57,691 |
|
|
$ |
57,991 |
|
|
$ |
58,496 |
|
|
$ |
56,418 |
|
|
$ |
173,858 |
|
|
$ |
167,463 |
|
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable |
2,998 |
|
|
2,556 |
|
|
2,402 |
|
|
2,203 |
|
|
2,095 |
|
|
7,956 |
|
|
6,024 |
|
Tax-exempt |
2,498 |
|
|
2,491 |
|
|
2,394 |
|
|
2,316 |
|
|
2,280 |
|
|
7,383 |
|
|
4,995 |
|
Deposits in other financial institutions |
221 |
|
|
94 |
|
|
41 |
|
|
32 |
|
|
18 |
|
|
356 |
|
|
233 |
|
Total interest income |
63,893 |
|
|
62,832 |
|
|
62,828 |
|
|
63,047 |
|
|
60,811 |
|
|
189,553 |
|
|
178,715 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTEREST EXPENSE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Demand, money market and savings deposits |
1,267 |
|
|
1,337 |
|
|
1,484 |
|
|
1,621 |
|
|
1,657 |
|
|
4,088 |
|
|
7,750 |
|
Certificates and other time deposits |
2,583 |
|
|
2,989 |
|
|
3,665 |
|
|
4,507 |
|
|
5,239 |
|
|
9,237 |
|
|
17,168 |
|
Borrowed funds |
436 |
|
|
469 |
|
|
539 |
|
|
557 |
|
|
558 |
|
|
1,444 |
|
|
1,626 |
|
Subordinated debt |
1,441 |
|
|
1,441 |
|
|
1,442 |
|
|
1,460 |
|
|
1,448 |
|
|
4,324 |
|
|
4,390 |
|
Total interest expense |
5,727 |
|
|
6,236 |
|
|
7,130 |
|
|
8,145 |
|
|
8,902 |
|
|
19,093 |
|
|
30,934 |
|
NET INTEREST INCOME |
58,166 |
|
|
56,596 |
|
|
55,698 |
|
|
54,902 |
|
|
51,909 |
|
|
170,460 |
|
|
147,781 |
|
Provision for (recapture of) credit losses |
2,295 |
|
|
(2,679 |
) |
|
639 |
|
|
4,368 |
|
|
1,347 |
|
|
255 |
|
|
23,006 |
|
Net interest income after provision for credit losses |
55,871 |
|
|
59,275 |
|
|
55,059 |
|
|
50,534 |
|
|
50,562 |
|
|
170,205 |
|
|
124,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST INCOME: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonsufficient funds fees |
131 |
|
|
94 |
|
|
83 |
|
|
100 |
|
|
75 |
|
|
308 |
|
|
304 |
|
Service charges on deposit accounts |
425 |
|
|
382 |
|
|
388 |
|
|
405 |
|
|
325 |
|
|
1,195 |
|
|
1,125 |
|
Gain on sale of securities |
— |
|
|
— |
|
|
49 |
|
|
— |
|
|
— |
|
|
49 |
|
|
287 |
|
(Loss) gain on sales of other real estate and repossessed
assets |
— |
|
|
— |
|
|
(176 |
) |
|
— |
|
|
117 |
|
|
(176 |
) |
|
(258 |
) |
Bank owned life insurance |
125 |
|
|
151 |
|
|
139 |
|
|
144 |
|
|
144 |
|
|
415 |
|
|
438 |
|
Debit card and ATM card income |
771 |
|
|
761 |
|
|
630 |
|
|
637 |
|
|
574 |
|
|
2,162 |
|
|
1,568 |
|
Other |
647 |
|
|
885 |
|
|
623 |
|
|
733 |
|
|
615 |
|
|
2,155 |
|
|
2,673 |
|
Total noninterest income |
2,099 |
|
|
2,273 |
|
|
1,736 |
|
|
2,019 |
|
|
1,850 |
|
|
6,108 |
|
|
6,137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST EXPENSE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
22,335 |
|
|
22,472 |
|
|
22,452 |
|
|
21,003 |
|
|
20,034 |
|
|
67,259 |
|
|
59,149 |
|
Net occupancy and equipment |
2,335 |
|
|
2,225 |
|
|
2,390 |
|
|
2,079 |
|
|
2,057 |
|
|
6,950 |
|
|
5,890 |
|
Depreciation |
1,060 |
|
|
1,057 |
|
|
1,034 |
|
|
1,019 |
|
|
946 |
|
|
3,151 |
|
|
2,697 |
|
Data processing and software amortization |
2,222 |
|
|
2,176 |
|
|
2,200 |
|
|
2,107 |
|
|
2,125 |
|
|
6,598 |
|
|
5,885 |
|
Professional fees |
1,223 |
|
|
608 |
|
|
789 |
|
|
999 |
|
|
756 |
|
|
2,620 |
|
|
2,129 |
|
Regulatory assessments and FDIC insurance |
883 |
|
|
768 |
|
|
807 |
|
|
810 |
|
|
875 |
|
|
2,458 |
|
|
2,116 |
|
Core deposit intangibles amortization |
824 |
|
|
824 |
|
|
824 |
|
|
953 |
|
|
989 |
|
|
2,472 |
|
|
2,969 |
|
Communications |
358 |
|
|
332 |
|
|
321 |
|
|
225 |
|
|
355 |
|
|
1,011 |
|
|
1,162 |
|
Advertising |
481 |
|
|
432 |
|
|
298 |
|
|
347 |
|
|
327 |
|
|
1,211 |
|
|
1,218 |
|
Other real estate expense |
137 |
|
|
229 |
|
|
113 |
|
|
382 |
|
|
2,017 |
|
|
479 |
|
|
4,780 |
|
Other |
2,438 |
|
|
2,472 |
|
|
3,691 |
|
|
2,825 |
|
|
2,084 |
|
|
8,601 |
|
|
6,750 |
|
Total noninterest expense |
34,296 |
|
|
33,595 |
|
|
34,919 |
|
|
32,749 |
|
|
32,565 |
|
|
102,810 |
|
|
94,745 |
|
INCOME BEFORE INCOME TAXES |
23,674 |
|
|
27,953 |
|
|
21,876 |
|
|
19,804 |
|
|
19,847 |
|
|
73,503 |
|
|
36,167 |
|
Provision for income taxes |
4,614 |
|
|
5,028 |
|
|
3,866 |
|
|
3,863 |
|
|
3,677 |
|
|
13,508 |
|
|
6,574 |
|
NET INCOME |
$ |
19,060 |
|
|
$ |
22,925 |
|
|
$ |
18,010 |
|
|
$ |
15,941 |
|
|
$ |
16,170 |
|
|
$ |
59,995 |
|
|
$ |
29,593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.94 |
|
|
$ |
1.13 |
|
|
$ |
0.89 |
|
|
$ |
0.78 |
|
|
$ |
0.79 |
|
|
$ |
2.97 |
|
|
$ |
1.45 |
|
Diluted |
$ |
0.93 |
|
|
$ |
1.12 |
|
|
$ |
0.89 |
|
|
$ |
0.77 |
|
|
$ |
0.79 |
|
|
$ |
2.95 |
|
|
$ |
1.44 |
|
Allegiance Bancshares,
Inc.Financial
Highlights(Unaudited)
|
Three Months Ended |
|
Year-to-Date |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
September 30 |
|
September 30 |
|
(Dollars and share amounts in thousands, except per share
data) |
Net income |
$ |
19,060 |
|
$ |
22,925 |
|
$ |
18,010 |
|
$ |
15,941 |
|
$ |
16,170 |
|
$ |
59,995 |
|
$ |
29,593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share, basic |
$ |
0.94 |
|
$ |
1.13 |
|
$ |
0.89 |
|
$ |
0.78 |
|
$ |
0.79 |
|
$ |
2.97 |
|
$ |
1.45 |
|
Earnings per share, diluted |
$ |
0.93 |
|
$ |
1.12 |
|
$ |
0.89 |
|
$ |
0.77 |
|
$ |
0.79 |
|
$ |
2.95 |
|
$ |
1.44 |
|
Dividends per share |
$ |
0.12 |
|
$ |
0.12 |
|
$ |
0.12 |
|
$ |
0.10 |
|
$ |
0.10 |
|
$ |
0.36 |
|
$ |
0.30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets(A) |
1.14 |
% |
1.42 |
% |
1.18 |
% |
1.05 |
% |
1.09 |
% |
1.25 |
% |
0.72 |
% |
Return on average equity(A) |
9.45 |
% |
11.87 |
% |
9.59 |
% |
8.38 |
% |
8.59 |
% |
10.30 |
% |
5.43 |
% |
Return on average tangible equity(A)(B) |
13.49 |
% |
17.20 |
% |
14.03 |
% |
12.32 |
% |
12.72 |
% |
14.89 |
% |
8.16 |
% |
Net interest margin (tax equivalent)(A)(C) |
3.90 |
% |
4.02 |
% |
4.19 |
% |
4.14 |
% |
3.95 |
% |
4.03 |
% |
4.06 |
% |
Efficiency ratio(D) |
56.91 |
% |
57.07 |
% |
60.85 |
% |
57.53 |
% |
60.58 |
% |
58.24 |
% |
61.67 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
Allegiance Bancshares, Inc. (Consolidated) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity to assets |
11.81 |
% |
12.12 |
% |
11.83 |
% |
12.54 |
% |
12.62 |
% |
11.81 |
% |
12.62 |
% |
Tangible equity to tangible assets(B) |
8.58 |
% |
8.76 |
% |
8.40 |
% |
8.90 |
% |
8.92 |
% |
8.58 |
% |
8.92 |
% |
Estimated common equity tier 1 capital |
12.37 |
% |
12.18 |
% |
11.87 |
% |
11.80 |
% |
11.73 |
% |
12.37 |
% |
11.73 |
% |
Estimated tier 1 risk-based capital |
12.60 |
% |
12.41 |
% |
12.10 |
% |
12.04 |
% |
11.96 |
% |
12.60 |
% |
11.96 |
% |
Estimated total risk-based capital |
16.13 |
% |
15.98 |
% |
15.72 |
% |
15.71 |
% |
15.56 |
% |
16.13 |
% |
15.56 |
% |
Estimated tier 1 leverage capital |
8.76 |
% |
8.56 |
% |
8.57 |
% |
8.51 |
% |
8.70 |
% |
8.76 |
% |
8.70 |
% |
Allegiance Bank |
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated common equity tier 1 capital |
12.81 |
% |
13.03 |
% |
13.17 |
% |
13.32 |
% |
13.25 |
% |
12.81 |
% |
13.25 |
% |
Estimated tier 1 risk-based capital |
12.81 |
% |
13.03 |
% |
13.17 |
% |
13.32 |
% |
13.25 |
% |
12.81 |
% |
13.25 |
% |
Estimated total risk-based capital |
14.98 |
% |
15.22 |
% |
15.37 |
% |
15.55 |
% |
15.41 |
% |
14.98 |
% |
15.41 |
% |
Estimated tier 1 leverage capital |
8.91 |
% |
8.99 |
% |
9.33 |
% |
9.41 |
% |
9.64 |
% |
8.91 |
% |
9.64 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
20,221 |
|
20,203 |
|
20,140 |
|
20,396 |
|
20,439 |
|
20,188 |
|
20,421 |
|
Diluted |
20,411 |
|
20,386 |
|
20,342 |
|
20,575 |
|
20,532 |
|
20,369 |
|
20,551 |
|
Period end shares outstanding |
20,218 |
|
20,213 |
|
20,183 |
|
20,208 |
|
20,445 |
|
20,218 |
|
20,445 |
|
Book value per share |
$ |
39.50 |
|
$ |
39.04 |
|
$ |
37.68 |
|
$ |
37.54 |
|
$ |
36.83 |
|
$ |
39.50 |
|
$ |
36.83 |
|
Tangible book value per share(B) |
$ |
27.67 |
|
$ |
27.17 |
|
$ |
25.75 |
|
$ |
25.59 |
|
$ |
24.97 |
|
$ |
27.67 |
|
$ |
24.97 |
|
(A) |
Interim periods annualized. |
(B) |
Refer to the calculation of these
non-GAAP financial measures and a reconciliation to their most
directly comparable GAAP financial measures on page 10 of this
Earnings Release. |
(C) |
Net interest margin represents
net interest income divided by average interest-earning
assets. |
(D) |
Represents total noninterest
expense divided by the sum of net interest income plus noninterest
income, excluding net gains and losses on the sale of loans,
securities and assets. Additionally, taxes and provision for
(recapture of) loan losses are not part of this calculation. |
Allegiance Bancshares,
Inc.Financial
Highlights(Unaudited)
|
Three Months Ended |
|
September 30, 2021 |
|
June 30, 2021 |
|
September 30, 2020 |
|
AverageBalance |
|
InterestEarned/ InterestPaid |
|
AverageYield/Rate |
|
AverageBalance |
|
InterestEarned/ InterestPaid |
|
AverageYield/Rate |
|
AverageBalance |
|
InterestEarned/InterestPaid |
|
AverageYield/Rate |
|
(Dollars in thousands) |
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Earning Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
$ |
4,336,443 |
|
|
$ |
58,176 |
|
|
5.32 |
% |
|
$ |
4,543,142 |
|
|
$ |
57,691 |
|
|
5.09 |
% |
|
$ |
4,594,333 |
|
|
$ |
56,418 |
|
|
4.89 |
% |
Securities |
1,070,851 |
|
|
5,496 |
|
|
2.04 |
% |
|
876,099 |
|
|
5,047 |
|
|
2.31 |
% |
|
667,008 |
|
|
4,375 |
|
|
2.61 |
% |
Deposits
in other financial institutions and other |
588,859 |
|
|
221 |
|
|
0.15 |
% |
|
294,188 |
|
|
94 |
|
|
0.13 |
% |
|
20,176 |
|
|
18 |
|
|
0.35 |
% |
Total interest-earning assets |
5,996,153 |
|
|
$ |
63,893 |
|
|
4.23 |
% |
|
5,713,429 |
|
|
$ |
62,832 |
|
|
4.41 |
% |
|
5,281,517 |
|
|
$ |
60,811 |
|
|
4.58 |
% |
Allowance for credit losses on loans |
(49,381 |
) |
|
|
|
|
|
(52,699 |
) |
|
|
|
|
|
(47,593 |
) |
|
|
|
|
Noninterest-earning assets |
680,682 |
|
|
|
|
|
|
835,801 |
|
|
|
|
|
|
679,750 |
|
|
|
|
|
Total
assets |
$ |
6,627,454 |
|
|
|
|
|
|
$ |
6,496,531 |
|
|
|
|
|
|
$ |
5,913,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing demand deposits |
$ |
576,144 |
|
|
$ |
324 |
|
|
0.22 |
% |
|
$ |
534,314 |
|
|
$ |
326 |
|
|
0.24 |
% |
|
$ |
394,612 |
|
|
$ |
392 |
|
|
0.40 |
% |
Money
market and savings deposits |
1,565,965 |
|
|
943 |
|
|
0.24 |
% |
|
1,561,987 |
|
|
1,011 |
|
|
0.26 |
% |
|
1,409,969 |
|
|
1,265 |
|
|
0.36 |
% |
Certificates and other time deposits |
1,363,121 |
|
|
2,583 |
|
|
0.75 |
% |
|
1,365,881 |
|
|
2,989 |
|
|
0.88 |
% |
|
1,291,536 |
|
|
5,239 |
|
|
1.61 |
% |
Borrowed
funds |
139,844 |
|
|
436 |
|
|
1.24 |
% |
|
144,126 |
|
|
469 |
|
|
1.31 |
% |
|
171,804 |
|
|
558 |
|
|
1.29 |
% |
Subordinated debt |
108,652 |
|
|
1,441 |
|
|
5.26 |
% |
|
108,523 |
|
|
1,441 |
|
|
5.33 |
% |
|
108,130 |
|
|
1,448 |
|
|
5.33 |
% |
Total interest-bearing liabilities |
3,753,726 |
|
|
$ |
5,727 |
|
|
0.61 |
% |
|
3,714,831 |
|
|
$ |
6,236 |
|
|
0.67 |
% |
|
3,376,051 |
|
|
$ |
8,902 |
|
|
1.05 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand deposits |
2,031,399 |
|
|
|
|
|
|
1,968,714 |
|
|
|
|
|
|
1,752,404 |
|
|
|
|
|
Other
liabilities |
42,183 |
|
|
|
|
|
|
38,183 |
|
|
|
|
|
|
36,572 |
|
|
|
|
|
Total
liabilities |
5,827,308 |
|
|
|
|
|
|
5,721,728 |
|
|
|
|
|
|
5,165,027 |
|
|
|
|
|
Shareholders' equity |
800,146 |
|
|
|
|
|
|
774,803 |
|
|
|
|
|
|
748,647 |
|
|
|
|
|
Total liabilities and shareholders' equity |
$ |
6,627,454 |
|
|
|
|
|
|
$ |
6,496,531 |
|
|
|
|
|
|
$ |
5,913,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest rate spread |
|
|
|
|
3.62 |
% |
|
|
|
|
|
3.74 |
% |
|
|
|
|
|
3.53 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income and margin |
|
|
$ |
58,166 |
|
|
3.85 |
% |
|
|
|
$ |
56,596 |
|
|
3.97 |
% |
|
|
|
$ |
51,909 |
|
|
3.91 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income and net interest margin (tax equivalent) |
|
|
$ |
58,873 |
|
|
3.90 |
% |
|
|
|
$ |
57,287 |
|
|
4.02 |
% |
|
|
|
$ |
52,446 |
|
|
3.95 |
% |
Allegiance Bancshares,
Inc.Financial
Highlights(Unaudited)
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
AverageBalance |
|
InterestEarned/ Interest
Paid |
|
AverageYield/Rate |
|
AverageBalance |
|
InterestEarned/ Interest
Paid |
|
AverageYield/Rate |
|
(Dollars in thousands) |
Assets |
|
|
|
|
|
|
|
|
|
|
|
Interest-Earning Assets: |
|
|
|
|
|
|
|
|
|
|
|
Loans |
$ |
4,482,684 |
|
|
|
$ |
173,858 |
|
|
5.19 |
% |
|
$ |
4,318,564 |
|
|
|
$ |
167,463 |
|
|
5.18 |
% |
Securities |
913,078 |
|
|
|
15,339 |
|
|
2.25 |
% |
|
550,405 |
|
|
|
11,019 |
|
|
2.67 |
% |
Deposits
in other financial institutions |
328,238 |
|
|
|
356 |
|
|
0.15 |
% |
|
29,652 |
|
|
|
233 |
|
|
1.05 |
% |
Total interest-earning assets |
5,724,000 |
|
|
|
$ |
189,553 |
|
|
4.43 |
% |
|
4,898,621 |
|
|
|
$ |
178,715 |
|
|
4.87 |
% |
Allowance for credit losses on loans |
(51,802 |
) |
|
|
|
|
|
|
(39,245 |
) |
|
|
|
|
|
Noninterest-earning assets |
758,774 |
|
|
|
|
|
|
|
639,606 |
|
|
|
|
|
|
Total assets |
$ |
6,430,972 |
|
|
|
|
|
|
|
$ |
5,498,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing demand deposits |
$ |
523,272 |
|
|
|
$ |
1,021 |
|
|
0.26 |
% |
|
$ |
370,485 |
|
|
|
$ |
1,659 |
|
|
0.60 |
% |
Money
market and savings deposits |
1,555,791 |
|
|
|
3,067 |
|
|
0.26 |
% |
|
1,249,832 |
|
|
|
6,091 |
|
|
0.65 |
% |
Certificates and other time deposits |
1,354,000 |
|
|
|
9,237 |
|
|
0.91 |
% |
|
1,262,674 |
|
|
|
17,168 |
|
|
1.82 |
% |
Borrowed
funds |
146,244 |
|
|
|
1,444 |
|
|
1.32 |
% |
|
210,902 |
|
|
|
1,626 |
|
|
1.03 |
% |
Subordinated debt |
108,522 |
|
|
|
4,324 |
|
|
5.33 |
% |
|
107,998 |
|
|
|
4,390 |
|
|
5.43 |
% |
Total interest-bearing liabilities |
3,687,829 |
|
|
|
$ |
19,093 |
|
|
0.69 |
% |
|
3,201,891 |
|
|
|
30,934 |
|
|
1.29 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand deposits |
1,923,584 |
|
|
|
|
|
|
|
1,535,107 |
|
|
|
|
|
|
Other
liabilities |
40,568 |
|
|
|
|
|
|
|
33,482 |
|
|
|
|
|
|
Total
liabilities |
5,651,981 |
|
|
|
|
|
|
|
4,770,480 |
|
|
|
|
|
|
Shareholders' equity |
778,991 |
|
|
|
|
|
|
|
728,502 |
|
|
|
|
|
|
Total liabilities and shareholders' equity |
$ |
6,430,972 |
|
|
|
|
|
|
|
$ |
5,498,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest rate spread |
|
|
|
|
3.74 |
% |
|
|
|
|
|
3.58 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income and margin |
|
|
$ |
170,460 |
|
|
3.98 |
% |
|
|
|
$ |
147,781 |
|
|
4.03 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income and net interest margin (tax equivalent) |
|
|
$ |
172,477 |
|
|
4.03 |
% |
|
|
|
$ |
148,939 |
|
|
4.06 |
% |
Allegiance Bancshares,
Inc.Financial
Highlights(Unaudited)
|
Three Months Ended |
|
2021 |
|
2020 |
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
(Dollars in thousands) |
Period-end Loan
Portfolio: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
$ |
728,897 |
|
$ |
690,867 |
|
$ |
664,792 |
|
$ |
667,079 |
|
$ |
650,634 |
Paycheck Protection Program
(PPP) |
290,028 |
|
499,207 |
|
728,424 |
|
569,901 |
|
710,234 |
Real estate: |
|
|
|
|
|
|
|
|
|
Commercial real estate (including multi-family
residential) |
2,073,521 |
|
2,051,516 |
|
2,018,853 |
|
1,999,877 |
|
1,971,228 |
Commercial real estate construction and land development |
382,610 |
|
371,732 |
|
386,637 |
|
367,213 |
|
376,877 |
1-4 family residential (including home equity) |
683,919 |
|
715,119 |
|
726,228 |
|
737,605 |
|
716,565 |
Residential construction |
104,638 |
|
111,956 |
|
119,528 |
|
127,522 |
|
148,056 |
Consumer and other |
25,856 |
|
20,346 |
|
14,707 |
|
22,567 |
|
18,768 |
Total loans |
$ |
4,289,469 |
|
$ |
4,460,743 |
|
$ |
4,659,169 |
|
$ |
4,491,764 |
|
$ |
4,592,362 |
|
|
|
|
|
|
|
|
|
|
Asset
Quality: |
|
|
|
|
|
|
|
|
|
Nonaccrual loans |
$ |
28,369 |
|
$ |
36,643 |
|
$ |
35,051 |
|
$ |
28,893 |
|
$ |
37,928 |
Accruing loans 90 or more days
past due |
— |
|
— |
|
— |
|
— |
|
— |
Total nonperforming loans |
28,369 |
|
36,643 |
|
35,051 |
|
28,893 |
|
37,928 |
Other real estate |
1,397 |
|
1,397 |
|
576 |
|
9,196 |
|
8,876 |
Other repossessed assets |
— |
|
— |
|
— |
|
— |
|
— |
Total nonperforming assets |
$ |
29,766 |
|
$ |
38,040 |
|
$ |
35,627 |
|
$ |
38,089 |
|
$ |
46,804 |
|
|
|
|
|
|
|
|
|
|
Net charge-offs |
$ |
450 |
|
$ |
162 |
|
$ |
345 |
|
$ |
4,287 |
|
$ |
291 |
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
$ |
10,247 |
|
$ |
12,949 |
|
$ |
14,059 |
|
$ |
10,747 |
|
$ |
13,171 |
Real estate: |
|
|
|
|
|
|
|
|
|
Commercial real estate (including multi-family
residential) |
14,629 |
|
18,123 |
|
13,455 |
|
10,081 |
|
15,849 |
Commercial real estate construction and land development |
53 |
|
53 |
|
1,000 |
|
3,011 |
|
3,085 |
1-4 family residential (including home equity) |
3,224 |
|
4,839 |
|
5,736 |
|
4,525 |
|
4,263 |
Residential construction |
— |
|
— |
|
— |
|
— |
|
876 |
Consumer and other |
216 |
|
679 |
|
801 |
|
529 |
|
684 |
Total nonaccrual loans |
$ |
28,369 |
|
$ |
36,643 |
|
$ |
35,051 |
|
$ |
28,893 |
|
$ |
37,928 |
|
|
|
|
|
|
|
|
|
|
Asset Quality
Ratios: |
|
|
|
|
|
|
|
|
|
Nonperforming assets to total
assets |
0.44% |
|
0.58% |
|
0.55% |
|
0.63% |
|
0.78% |
Nonperforming loans to total
loans |
0.66% |
|
0.82% |
|
0.75% |
|
0.64% |
|
0.83% |
Allowance for credit losses on
loans to nonperforming loans |
177.98% |
|
135.32% |
|
150.52% |
|
184.03% |
|
128.40% |
Allowance for credit losses on
loans to total loans |
1.18% |
|
1.11% |
|
1.13% |
|
1.18% |
|
1.06% |
Net charge-offs to average
loans (annualized) |
0.04% |
|
0.01% |
|
0.03% |
|
0.37% |
|
0.03% |
Allegiance Bancshares,
Inc.GAAP Reconciliation and Management’s
Explanation of Non-GAAP Financial
Measures(Unaudited)
Allegiance’s management uses certain non-GAAP
(generally accepted accounting principles) financial measures to
evaluate its performance. Allegiance believes that these non-GAAP
financial measures provide meaningful supplemental information
regarding its performance and that management and investors benefit
from referring to these non-GAAP financial measures in assessing
Allegiance’s performance and when planning, forecasting, analyzing
and comparing past, present and future periods. Specifically,
Allegiance reviews tangible book value per share, return on average
tangible equity and the ratio of tangible equity to tangible assets
for internal planning and forecasting purposes. Allegiance has
included in this Earnings Release information relating to these
non-GAAP financial measures for the applicable periods
presented. These non-GAAP measures should not be
considered in isolation or as a substitute for the most directly
comparable or other financial measures calculated in accordance
with GAAP. Moreover, the manner in which Allegiance calculates the
non-GAAP financial measures may differ from that of other companies
reporting measures with similar names.
|
Three Months Ended |
|
Year-to-Date |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
September 30 |
|
September 30 |
|
(Dollars and share amounts in thousands, except per share
data) |
Total shareholders' equity |
$ |
798,592 |
|
$ |
789,150 |
|
$ |
760,537 |
|
$ |
758,669 |
|
$ |
753,053 |
|
$ |
798,592 |
|
$ |
753,053 |
Less: Goodwill and
core deposit intangibles, net |
239,124 |
|
239,948 |
|
240,772 |
|
241,596 |
|
242,549 |
|
239,124 |
|
242,549 |
Tangible
shareholders’ equity |
$ |
559,468 |
|
$ |
549,202 |
|
$ |
519,765 |
|
$ |
517,073 |
|
$ |
510,504 |
|
$ |
559,468 |
|
$ |
510,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding at end
of period |
20,218 |
|
20,213 |
|
20,183 |
|
20,208 |
|
20,445 |
|
20,218 |
|
20,445 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible book value
per share |
$ |
27.67 |
|
$ |
27.17 |
|
$ |
25.75 |
|
$ |
25.59 |
|
$ |
24.97 |
|
$ |
27.67 |
|
$ |
24.97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
19,060 |
|
$ |
22,925 |
|
$ |
18,010 |
|
$ |
15,941 |
|
$ |
16,170 |
|
$ |
59,995 |
|
$ |
29,593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shareholders'
equity |
$ |
800,146 |
|
$ |
774,803 |
|
$ |
761,600 |
|
$ |
756,699 |
|
$ |
748,647 |
|
$ |
778,991 |
|
$ |
728,502 |
Less: Average
goodwill and core deposit intangibles, net |
239,497 |
|
240,331 |
|
241,166 |
|
242,043 |
|
243,015 |
|
240,325 |
|
244,007 |
Average tangible
shareholders’ equity |
$ |
560,649 |
|
$ |
534,472 |
|
$ |
520,434 |
|
$ |
514,656 |
|
$ |
505,632 |
|
$ |
538,666 |
|
$ |
484,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on
average tangible
equity(A) |
13.49% |
|
17.20% |
|
14.03% |
|
12.32% |
|
12.72% |
|
14.89% |
|
8.16% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
$ |
6,759,761 |
|
$ |
6,508,667 |
|
$ |
6,430,990 |
|
$ |
6,050,128 |
|
$ |
5,967,751 |
|
$ |
6,759,761 |
|
$ |
5,967,751 |
Less: Goodwill and core
deposit intangibles, net |
239,124 |
|
239,948 |
|
240,772 |
|
241,596 |
|
242,549 |
|
239,124 |
|
242,549 |
Tangible
assets |
$ |
6,520,637 |
|
$ |
6,268,719 |
|
$ |
6,190,218 |
|
$ |
5,808,532 |
|
$ |
5,725,202 |
|
$ |
6,520,637 |
|
$ |
5,725,202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible equity to
tangible assets |
8.58% |
|
8.76% |
|
8.40% |
|
8.90% |
|
8.92% |
|
8.58% |
|
8.92% |
(A) |
Interim periods annualized. |
Allegiance Bancshares, Inc.8847 West Sam
Houston Parkway N., Suite 200Houston, Texas
77040ir@allegiancebank.com
Allegiance Bancshares (NASDAQ:ABTX)
Graphique Historique de l'Action
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Allegiance Bancshares (NASDAQ:ABTX)
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