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BUSINESS: Veritex Holdings, Inc. Announces Increase And Extension To Its Stock Buyback Program

business:-veritex-holdings,-inc.-announces-increase-and-extension-to-its-stock-buyback-program
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By Daniel Webster, dWeb.News Publisher

| Source: Veritex Holdings, Inc.


DALLAS, Sept. 15, 2021 (GLOBE NEWSWIRE) — The Board of Directors (the “Board”) of Veritex Holdings, Inc. (Nasdaq: VBTX) (the “Company”) authorized an increase and extension of its stock buyback program (the “Stock Buyback Program”) pursuant to which the Company may, from time to time, purchase shares of its outstanding common stock. The Stock Buyback Program authorized the Company to purchase up to $175.0 million of its outstanding common stock and that amount has been increased by the Board to $250.0 million. The Board also authorized an extension of the expiration date of the Stock Buyback Program from December 31, 2021 to December 31, 2022. The stock can be purchased in private transactions or on the open market depending on market conditions and according to applicable regulations by the Securities and Exchange Commission (“SEC”) The Stock Buyback Program is not an obligation to buy shares. It may be cancelled or modified by the Board at any point prior to its expiration. As of September 14, 2021, the Company had repurchased approximately $163.8 million, or 6,522,823 shares, of its common stock through the Stock Buyback Program which includes 222,851 shares repurchased during the third quarter of 2021.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank, a Texas state-chartered bank, is regulated by the Texas Department of Banking (Board of Governors of the Federal Reserve System) and the Texas Department of Banking. For more information, visit http://www.veritexbank.com.

Forward Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon various facts. They are derived using assumptions, current expectations and projections. Actual results, performance and achievements may differ from those projected or made by forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment date of Veritex’s quarterly cash dividend, the impact of certain changes in Veritex’s accounting policies, standards and interpretations, the effects of the COVID-19 pandemic and actions taken in response thereto, Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Forward-looking statements are those that include, or follow, the words “believes”, “expects,” or “anticipates,” or “intends,” or similar expressions, or future or conditional verbs like “will,” (“should”), “would,” or “may”) and any actions taken in response thereto. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2020 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at http://www.sec.gov. Actual results could differ from those Veritex expects, depending on whether one or more of these events occurs or if Veritex’s assumptions are incorrect. Forward-looking statements should not be relied upon. Forward-looking statements are only accurate as of the date they were made. Veritex disclaims any obligation and expressly declines any obligation to revise any forward looking statements, regardless of whether they are based on new information, future developments, or any other factors, except as required under law. This cautionary statement expressly qualifies all forward-looking statements in this press release, whether implied or expressed. This cautionary statement should be considered when referring to any forward-looking statements Veritex or anyone acting on Veritex’s behalf may make.

Source: Veritex Holdings, Inc.



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