Diluted EPS for 2005 Increased 18.0% over 2004 LA GRANGE, Texas,
Jan. 25 /PRNewswire-FirstCall/ -- Texas United Bancshares, Inc.
(NASDAQ:TXUI), a community banking organization and parent company
of State Bank, La Grange, Texas, GNB Financial, n.a., Gainesville,
Texas, and Gateway National Bank, Dallas, Texas, today reports net
earnings of $2.6 million for the fourth quarter ended December 31,
2005, an increase of $1.2 million or 84.2% compared with $1.4
million for the fourth quarter of 2004. Diluted earnings per share
for the fourth quarter of 2005 were $0.31, up $0.13 or 72.2%
compared with $0.18 per diluted share for the fourth quarter of
2004. The higher net earnings and diluted earnings per share for
the fourth quarter of 2005, compared with the same quarter of 2004,
were primarily due to internal growth and higher market interest
rates on earning assets resulting in continued net interest margin
improvement, and the acquisition of Gateway on December 1, 2005.
Diluted earnings per share for the fourth quarter of 2005 were
impacted by the issuance of approximately 1,357,000 shares of
common stock in connection with the acquisition of Gateway.
Weighted average diluted shares outstanding for the fourth quarter
of 2005 were approximately 8,555,000 compared with 7,953,000 for
the fourth quarter of 2004, a weighted average increase of
approximately 602,000 shares. Net earnings for the year ended
December 31, 2005 were $10.7 million, an increase of $4.7 million
or 77.5% compared with $6.1 million for the year 2004. Diluted
earnings per share for the year ended December 31, 2005 were $1.31,
up $0.20 per diluted share or 18.0% compared with $1.11 for the
year 2004. The increase in net earnings for the year 2005, compared
with the year 2004, was primarily due to higher market interest
rates on increased earning assets and increased noninterest income
as a result of internal growth, the full year effect of the GNB
acquisition in October 2005, and the Gateway acquisition. Diluted
earnings per share for the year ended December 31, 2005 were
impacted by the issuance of approximately 1,357,000 shares of
common stock in connection with the Gateway acquisition, the
issuance of approximately 1,457,000 shares of common stock in
connection with the GNB acquisition in October 2004 and the sale of
2,300,000 shares of common stock through a public offering in
August 2004. Weighted average diluted shares outstanding for the
year 2005 were approximately 8,184,000 compared with 5,442,000 for
the year 2004, a weighted average increase of approximately
2,742,000 shares. Don Stricklin, President and CEO of Texas United
Bancshares, Inc., said, "We were very pleased to report record
earnings for Texas United in 2005 which reflects our continued
growth over the past year and a half with our expanding presence in
growing Texas markets. Our acquisition of Gateway was completed in
December 2005 and, pending regulatory approval, we expect to
complete the acquisition of The Express Bank of Texas in the first
quarter of 2006, and pending regulatory and Northwest shareholder
approval, we expect to complete the acquisition of Northwest
Bancshares and its subsidiary, Northwest Bank, in the second of
quarter of 2006." Income Statement Data. Net interest income,
before the provision for loan losses, for the fourth quarter ended
December 31, 2005 was $14.7 million, up $3.3 million or 29.4%
compared with $11.4 million for the fourth quarter of 2004. The net
interest margin for the fourth quarter of 2005 was 4.94%, up 9
basis points compared with 4.85% for the third quarter of 2005 and
up 30 basis points compared with 4.64% for the fourth quarter of
2004. Net interest income, before the provision for loan losses,
for the year ended December 31, 2005 was $53.0 million, up $20.3
million or 62.0% compared with $32.7 million for the year 2004. The
net interest margin for the year ended December 31, 2005 was 4.92%,
up 48 basis points compared with 4.44% for the year 2004. The
increases in net interest income and the improved net interest
margin for both the fourth quarter of 2005 and year 2005 were
primarily due to additional interest income earned on larger
earning-asset volumes as a result of internal growth and
acquisitions, with higher earning-asset yields as a result of
increases in short-term market interest rates, that were partially
offset by additional interest expense on higher volumes of
interest-bearing liabilities with slightly higher interest rates
paid for those funding sources. Noninterest income for the fourth
quarter ended December 31, 2005 was $5.8 million, up $947,000 or
19.7% compared with $4.8 million for the fourth quarter of 2004.
Noninterest income for the year ended December 31, 2005 was $24.7
million, up $5.6 million or 29.2% compared with $19.1 million for
the year 2004. The increases in both periods were primarily due to
increased fees collected on additional loan and deposit accounts as
a result of internal growth, the full year effect of the GNB
acquisition, and the Gateway acquisition. Increased mortgage
servicing revenue was principally the result of increased mortgage
banking activities and higher mortgage loan origination volumes.
Noninterest expense for the fourth quarter ended December 31, 2005
was $15.4 million, an increase of $1.9 million or 14.5% compared
with $13.4 million for the fourth quarter of 2004. Noninterest
expense for the year ended December 31, 2005 was $57.6 million, up
$16.6 million or 40.4% compared with $41.1 million for the year
2004. The increase in both periods reflect the impact of Texas
United's expansion and acquisition activities over the past
eighteen months, including the impact of additional staffing and
occupancy costs from each acquisition, staffing to handle expanded
back office operations, professional and legal fees related to
compliance and acquisition projects, the construction of three
full-service banking centers in the third and fourth quarters of
2005, and increased mortgage banking activities. The efficiency
ratios for the fourth quarter of 2005 and for the year ended
December 31, 2005 were 73.21% and 72.40%, respectively. These
ratios were calculated on a net basis which excludes intangible
amortization and securities gains and losses, and includes interest
income on a fully tax- equivalent basis. Historically, Texas United
has reported efficiency ratios on a gross basis (which does not
adjust for intangible amortization or the tax equivalency of
interest income). Calculated on a gross basis, the efficiency
ratios would have been 75.11% for the fourth quarter of 2005 and
74.09% for the year ended December 31, 2005, compared with 83.02%
for the fourth quarter of 2004 and 79.49% for the year ended
December 31, 2004. Going forward, Texas United plans to present the
efficiency ratio on a net basis. Although noninterest expense has
increased comparatively in recent periods, management believes that
Texas United has achieved increased economies of scale through its
expansion activities, and this is positively reflected in its
improved efficiency ratio. Asset Quality Data. Nonperforming assets
at December 31, 2005 were $7.1 million or 0.46% of total assets,
compared with $3.9 million or 0.34% of total assets at December 31,
2004. A portion of the increase was attributable to a parcel of
other real estate owned acquired in the Gateway acquisition. Texas
United has a contract for the sale of the property and management
expects to complete the sale for a full recovery in the first
quarter of 2006. Net charge-offs for the fourth quarter of 2005
were $1.1 million or 0.47% of average loans, compared with $456,000
or 0.27% of average loans at December 31, 2004. Net charge-offs for
the year ended December 31, 2005 were $2.7 million or 0.35% of
average loans, compared with $964,000 or 0.19% of average loans at
December 31, 2004. The allowance for loan losses at December 31,
2005 was $9.6 million or 0.93% of total loans. Balance Sheet Data.
Total assets at December 31, 2005 were $1.6 billion, up $411.1
million or 36.0% compared with $1.1 billion at December 31, 2004.
Total investment securities at December 31, 2005 were $269.2
million, down $32.5 million or 10.8% compared with $301.6 million
at December 31, 2004. Total loans at December 31, 2005 were $1.0
billion, up $338.3 million or 48.8% compared with $693.5 million at
December 31, 2004. Total deposits at December 31, 2005 were $1.1
billion, up $241.3 million or 27.4% compared with $880.1 million at
December 31, 2004. Total borrowings at December 31, 2005 were
$265.3 million, up $126.7 million or 91.4% compared with $138.6
million at December 31, 2004. Shareholders' equity at December 31,
2005 was $137.9 million, an increase of $33.1 million or 31.6%
compared with $104.8 million at December 31, 2004. The increase was
primarily the result of the Gateway acquisition and full year 2005
earnings. At December 31, 2005, there were 9,225,106 shares of
Texas United common stock outstanding. Texas United Bancshares,
Inc. is a registered financial holding company listed on the NASDAQ
National Market under the symbol "TXUI." Texas United operates
through three wholly-owned subsidiary banks, State Bank, GNB
Financial, n.a., and Gateway National Bank, all of which offer a
complete range of banking services. State Bank is headquartered in
La Grange, Texas with twenty-two full-service banking centers
located in central and south central Texas. GNB Financial is
headquartered in Gainesville, Texas with seven full-service banking
centers located in Cooke, Denton and Ellis counties, north and
south of the Dallas-Fort Worth metroplex. Gateway National Bank is
headquartered in Dallas, Texas with six Dallas area banking
centers. In addition, State Bank operates five loan production
offices and eleven limited service branches located in Houston, San
Antonio and Austin, Texas. Forward-Looking Statements: Except for
historical information, certain of the matters discussed in this
news release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties, including, but not limited
to, the following: general business and economic conditions in the
markets Texas United serves may be less favorable than expected
which could decrease the demand for loan, deposit and other
financial services and increase loan delinquencies and defaults;
changes in the interest rate environment which could reduce Texas
United's net interest margin; acquisition integration may be more
difficult than anticipated; legislative or regulatory developments
including changes in laws concerning taxes, banking, securities,
insurance and other aspects of the financial securities industry;
competitive factors may increase, including product and pricing
pressures among financial services organizations; and changes in
accounting principles, policies or guidelines. All written or oral
forward-looking statements are expressly qualified in their
entirety by these cautionary statements. Please also read the
additional risks and factors described from time to time in Texas
United's reports and registration statements filed with the
Securities and Exchange Commission. We disclaim any obligation to
update or revise any forward-looking statements contained in this
release. TEXAS UNITED BANCSHARES, INC. CONSOLIDATED BALANCE SHEETS
(Dollars in thousands) December 31, 2005 2004 Change Percent
(Unaudited) ASSETS Cash and due from banks $61,764 $36,752 $25,012
68.1% Federal funds sold 33,620 4,015 29,605 737.4% Total cash and
cash equivalents 95,384 40,767 54,617 134.0% Securities available
for sale, at fair value 232,965 301,631 (68,666) -22.8% Securities
held to maturity, at cost 36,209 - 36,209 Total loans, including
loans held for sale 1,031,838 693,548 338,290 48.8% Allowance for
loan losses (9,592) (6,685) (2,907) -43.5% Total loans, net
1,022,246 686,863 335,383 48.8% Premises and equipment, net 53,520
39,730 13,790 34.7% Accrued interest receivable 7,433 5,214 2,219
42.6% Goodwill 63,396 40,117 23,279 58.0% Core deposit intangibles,
net 8,847 5,341 3,506 65.6% Mortgage servicing rights, net 4,878
4,698 180 3.8% Other assets 27,579 17,005 10,574 62.2% Total assets
$1,552,457 $1,141,366 $411,091 36.0% LIABILITIES AND SHAREHOLDERS'
EQUITY Deposits: Noninterest-bearing $317,721 $187,454 $130,267
69.5% Interest-bearing 803,699 692,621 111,078 16.0% Total deposits
1,121,420 880,075 241,345 27.4% Securities sold under repurchase
agreements 7,120 6,291 829 13.2% Federal funds purchased 21,901
15,125 6,776 44.8% Junior subordinated deferrable interest
debentures 37,624 17,520 20,104 114.7% Borrowings 205,755 105,940
99,815 94.2% Other liabilities 20,724 11,603 9,121 78.6% Total
liabilities 1,414,544 1,036,554 377,990 36.5% SHAREHOLDERS' EQUITY
Common stock 9,210 7,802 1,408 18.0% Additional paid-in capital
102,682 75,935 26,747 35.2% Retained earnings 30,045 21,921 8,124
37.1% Accumulated other comprehensive loss (3,907) (729) (3,178)
-435.9% Less treasury stock, at cost (117) (117) - 0.0% Total
shareholders' equity 137,913 104,812 33,101 31.6% Total liabilities
and shareholders' equity $1,552,457 $1,141,366 $411,091 36.0% TEXAS
UNITED BANCSHARES, INC. CONSOLIDATED STATEMENTS OF EARNINGS (In
thousands, except per share data) For the Three Months Ended
December 31, 2005 2004 Change Percent (Unaudited) INTEREST INCOME
Loans $19,141 $12,866 $6,275 48.8% Investment securities - taxable
2,093 2,522 (429) -17.0% Investment securities - tax-exempt 292 144
148 102.8% Federal funds sold and other temporary investments 177
16 161 1006.3% Total interest income 21,703 15,548 6,155 39.6%
INTEREST EXPENSE Deposits 4,097 3,079 1,018 33.1% Federal funds
purchased 74 75 (1) -1.3% Borrowings 2,227 622 1,605 258.0%
Securities sold under repurchase agreements 32 - 32 - Junior
subordinated deferrable interest debentures 550 391 159 40.7% Total
interest expense 6,980 4,167 2,813 67.5% Net interest income 14,723
11,381 3,342 29.4% Provision for loan losses 1,040 700 340 48.6%
Net interest income after provision for loan losses 13,683 10,681
3,002 28.1% NONINTEREST INCOME Service charges on deposit accounts
2,489 1,735 754 43.5% Mortgage servicing revenue 220 173 47 27.2%
Net gain (loss) on sale of securities 15 (53) 68 128.3% Net gain on
sale of loans 2,047 2,283 (236) -10.3% Other noninterest income 982
668 314 47.0% Total noninterest income 5,753 4,806 947 19.7%
NONINTEREST EXPENSE Salaries and benefits 9,123 8,138 985 12.1%
Occupancy 2,023 2,177 (154) -7.1% Other noninterest expense 4,222
3,111 1,111 35.7% Total noninterest expense 15,368 13,426 1,942
14.5% Earnings before provision for income tax expense 4,068 2,061
2,007 97.4% Provision for income tax expense 1,436 632 804 127.2%
Net earnings $2,632 $1,429 $1,203 84.2% Earnings per common share:
Basic $0.32 $0.18 $0.14 77.8% Diluted $0.31 $0.18 $0.13 72.2%
Dividends per common share $0.08 $0.07 $0.01 14.3% Weighted average
shares outstanding - basic 8,298 7,776 522 6.7% Weighted average
shares outstanding - diluted 8,555 7,953 602 7.6% TEXAS UNITED
BANCSHARES, INC. CONSOLIDATED STATEMENTS OF EARNINGS (In thousands,
except per share data) For the Years Ended December 31, 2005 2004
Change Percent (Unaudited) INTEREST INCOME Loans $64,593 $36,822
$27,771 75.4% Investment securities - taxable 10,087 8,161 1,926
23.6% Investment securities - tax-exempt 821 436 385 88.3% Federal
funds sold and other temporary investments 234 30 204 680.0% Total
interest income 75,735 45,449 30,286 66.6% INTEREST EXPENSE
Deposits 14,024 9,223 4,801 52.1% Federal funds purchased 925 194
731 376.8% Borrowings 5,992 2,157 3,835 177.8% Securities sold
under repurchase agreements 107 - 107 - Junior subordinated
deferrable interest debentures 1,721 1,189 532 44.7% Total interest
expense 22,769 12,763 10,006 78.4% Net interest income 52,966
32,686 20,280 62.0% Provision for loan losses 3,838 1,850 1,988
107.5% Net interest income after provision for loan losses 49,128
30,836 18,292 59.3% NONINTEREST INCOME Service charges on deposit
accounts 9,185 6,931 2,254 32.5% Mortgage servicing revenue 1,137
888 249 28.0% Net (loss) gain on sale of securities (169) 114 (283)
-248.2% Net gain on sale of loans 9,543 9,213 330 3.6% Other
noninterest income 4,966 1,937 3,029 156.4% Total noninterest
income 24,662 19,083 5,579 29.2% NONINTEREST EXPENSE Salaries and
benefits 33,855 23,798 10,057 42.3% Occupancy 7,809 5,596 2,213
39.5% Other noninterest expense 15,976 11,667 4,309 36.9% Total
noninterest expense 57,640 41,061 16,579 40.4% Earnings before
provision for income tax expense 16,150 8,858 7,292 82.3% Provision
for income tax expense 5,414 2,808 2,606 92.8% Net earnings $10,736
$6,050 $4,686 77.5% Earnings per common share: Basic $1.35 $1.15
$0.20 17.4% Diluted $1.31 $1.11 $0.20 18.0% Dividends per common
share $0.32 $0.28 $0.04 14.3% Weighted average shares outstanding -
basic 7,930 5,264 2,666 50.6% Weighted average shares outstanding -
diluted 8,184 5,442 2,742 50.4% TEXAS UNITED BANCSHARES, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Dollars in thousands, except per
share data) Quarterly 2005 2004 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr 4th
Qtr (Unaudited) EARNINGS Net interest income $14,723 $13,754
$12,942 $12,059 $11,381 Provision for loan losses 1,040 1,035 1,041
722 700 Noninterest income 5,753 6,420 5,246 6,297 4,806
Noninterest expense 15,368 15,202 13,197 13,439 13,426 Net earnings
2,632 2,690 2,612 2,802 1,429 Basic earnings per share $0.32 $0.34
$0.33 $0.36 $0.18 Diluted earnings per share $0.31 $0.34 $0.33
$0.35 $0.18 Weighted average basic shares outstanding (in 000s)
8,298 7,815 7,805 7,798 7,776 Weighted average diluted shares
outstanding (in 000s) 8,555 7,979 7,964 7,968 7,953 PERFORMANCE
RATIOS Return on average assets 0.77% 0.84% 0.86% 0.97% 0.50%
Return on average equity 8.87% 10.01% 9.88% 10.66% 5.40% Net
interest margin 4.94% 4.85% 4.88% 4.87% 4.64% Efficiency ratio,
gross 75.11% 75.12% 73.02% 73.42% 82.94% Full-time equivalent
employees 628 573 595 557 522 CAPITAL Average equity to average
assets 8.72% 8.41% 8.75% 9.08% 9.34% Tier 1 leverage capital ratio
8.31% 6.92% 6.97% 7.10% 7.08% Book value per share $14.95 $13.89
$13.75 $13.35 $13.44 Cash dividend per share 0.08 $0.08 $0.08 $0.08
$0.07 ASSET QUALITY Gross charge-offs $1,282 $833 $857 $684 $621
Net charge-offs $1,081 $584 $589 $476 $456 Net charge-offs to
average loans 0.47% 0.28% 0.30% 0.27% 0.27% Allowance for loan
losses $9,592 $7,835 $7,383 $6,931 $6,685 Allowance for loan losses
to total loans 0.93% 0.92% 0.94% 0.96% 0.96% Nonperforming loans
$4,716 $4,953 $4,765 $3,208 $3,011 Other real estate and
repossessed assets $2,360 $1,167 $896 $641 $906 Nonperforming
assets to total assets 0.46% 0.49% 0.46% 0.33% 0.34% END OF PERIOD
BALANCES Loans, including loans held for sale $1,031,838 $847,861
$786,675 $725,724 $693,548 Total earning assets (before allowance
for loan losses) 1,334,632 1,102,692 1,084,723 1,035,947 999,194
Total assets 1,552,457 1,255,522 1,242,003 1,180,166 1,141,366
Deposits 1,121,420 880,728 902,356 880,306 880,075 Shareholders'
equity 137,913 108,986 107,445 104,177 104,812 AVERAGE BALANCES
Loans, including loans held for sale $914,300 $822,938 $754,879
$699,763 $679,149 Total earning assets (before allowance for loan
losses) 1,183,377 1,124,095 1,063,221 1,004,551 980,258 Total
assets 1,350,593 1,267,287 1,212,045 1,157,872 1,128,209 Deposits
954,579 885,055 895,889 884,117 890,913 Shareholders' equity
117,756 106,598 106,065 105,190 105,320 For the Years Ended 2005
2004 (Unaudited) EARNINGS Net interest income $52,966 $32,686
Provision for loan losses 3,838 1,850 Noninterest income 24,662
19,083 Noninterest expense 57,640 41,061 Net earnings 10,736 6,050
Basic earnings per share $1.35 $1.15 Diluted earnings per share
$1.31 $1.11 Weighted average basic shares outstanding (in 000s)
7,930 5,264 Weighted average diluted shares outstanding (in 000s)
8,184 5,442 PERFORMANCE RATIOS Return on average assets 0.87% 0.74%
Return on average equity 9.80% 9.97% Net interest margin 4.92%
4.44% Efficiency ratio, gross 74.09% 79.49% Full-time equivalent
employees 628 522 CAPITAL Average equity to average assets 8.93%
7.43% Tier 1 leverage capital ratio 9.20% 7.08% Book value per
share $14.95 $13.44 Cash dividend per share $0.32 $0.28 ASSET
QUALITY Gross charge-offs $3,656 $1,706 Net charge-offs $2,730 $964
Net charge-offs to average loans 0.35% 0.19% Allowance for loan
losses $9,592 $6,685 Allowance for loan losses to total loans 0.93%
0.96% Nonperforming loans $4,716 $3,011 Other real estate and
repossessed assets $2,360 $906 Nonperforming assets to total assets
0.46% 0.34% END OF PERIOD BALANCES Loans, including loans held for
sale $1,031,838 $693,548 Total earning assets (before allowance for
loan losses) 1,334,632 999,194 Total assets 1,552,457 1,141,366
Deposits 1,121,420 880,075 Shareholders' equity 137,913 104,812
AVERAGE BALANCES Loans, including loans held for sale $783,512
$493,490 Total earning assets (before allowance for loan losses)
1,076,767 735,847 Total assets 1,227,298 816,705 Deposits 887,786
639,850 Shareholders' equity 109,591 60,663 TEXAS UNITED
BANCSHARES, INC. CONSOLIDATED YIELD/RATE ANALYSIS (Unaudited) For
the Three Months Ended December 31, 2005 Average Interest Average
Outstanding Earned / Yield / Balance Paid Rate (Dollars in
Thousands) ASSETS Interest-earning assets: Total loans $914,300
$19,141 8.31% Taxable securities 223,373 2,093 3.72% Tax-exempt
securities 28,729 292 4.03% Federal funds sold 16,975 177 4.14%
Total interest-earning assets 1,183,377 21,703 7.28% Less:
allowance for loan losses (ALL) (8,910) Total interest-earning
assets, net of ALL 1,174,467 Noninterest-earning assets 176,126
Total assets $1,350,593 LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities: Interest-bearing demand deposits
$200,017 $612 1.21% Saving and money market accounts 196,576 894
1.80% Time deposits 312,928 2,592 3.29% Federal funds purchased
7,709 73 3.76% Junior subordinated deferrable interest debentures
29,548 550 7.38% Repurchase agreements 5,600 32 2.27% Other
borrowings 218,339 2,227 4.05% Total interest-bearing liabilities
970,717 6,980 2.85% Noninterest-bearing liabilities:
Noninterest-bearing demand deposits 245,058 Other liabilities
17,062 Total liabilities 1,232,837 Shareholders' equity 117,756
Total liabilities and shareholders' equity $1,350,593 Net interest
income $14,723 Net interest spread 4.42% Net interest margin 4.94%
TEXAS UNITED BANCSHARES, INC. CONSOLIDATED YIELD/RATE ANALYSIS
(Unaudited) For the Years Ended December 31, 2005 2004 Average
Interest Average Average Interest Average Outstanding Earned /
Yield / Outstanding Earned / Yield / Balance Paid Rate Balance Paid
Rate (Dollars in Thousands) ASSETS Interest-earning assets: Total
loans $783,512 $64,593 8.24% $493,490 $36,822 7.46% Taxable
securities 267,599 10,087 3.77% 231,526 8,161 3.52% Tax-exempt
securities 19,653 821 4.18% 8,719 436 5.00% Federal funds sold
6,003 234 3.90% 2,112 30 1.42% Total interest- earning assets
1,076,767 75,735 7.03% 735,847 45,449 6.18% Less: allowance for
loan losses (ALL) (7,386) (4,654) Total interest- earning assets,
net of ALL 1,069,381 731,193 Noninterest-earning assets 157,917
92,321 Total assets $1,227,298 $823,514 LIABILITIES AND
SHAREHOLDERS' EQUITY Interest-bearing liabilities: Interest-bearing
demand deposits $213,106 $2,746 1.29% $186,079 $2,414 1.30% Saving
and money market accounts 163,332 2,378 1.46% 117,148 1,352 1.15%
Time deposits 305,627 8,900 2.91% 222,447 5,457 2.45% Federal funds
purchased 24,689 925 3.75% 10,579 194 1.83% Junior subordinated
deferrable interest debentures 20,527 1,721 8.38% 13,654 1,189
8.71% Repurchase agreements 6,016 107 1.78% - - 0.00% Other
borrowings 165,353 5,992 3.62% 70,813 2,157 3.05% Total interest-
bearing liabilities 898,650 22,769 2.53% 620,720 12,763 2.06%
Noninterest-bearing liabilities: Noninterest- bearing demand
deposits 205,721 131,906 Other liabilities 13,336 10,639 Total
liabilities 1,117,707 763,265 Shareholders' equity 109,591 60,249
Total liabilities and shareholders' equity $1,227,298 $823,514 Net
interest income $52,966 $32,686 Net interest spread 4.50% 4.12% Net
interest margin 4.92% 4.44% Contact: Jeffrey A. Wilkinson Executive
Vice President and Chief Financial Officer 979-968-8451 First Call
Analyst: FCMN Contact: erica.vasek@statebanktx.com DATASOURCE:
Texas United Bancshares, Inc. CONTACT: Jeffrey A. Wilkinson,
Executive Vice President and Chief Financial Officer of Texas
United Bancshares, Inc., +1-979-968-8451,
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