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LegacyTexas Financial Group Q1 net income $29.1 million

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Christian Fernsby |
LegacyTexas Bank
LegacyTexas Financial Group   Core (non-GAAP) net income totaled $29.1 million for the first quarter of 2019

LegacyTexas Financial Group, the holding company for LegacyTexas Bank, announced net income of $29.1 million for the first quarter of 2019, a decrease of $28.7 million from the fourth quarter of 2018 and an increase of $3.3 million from the first quarter of 2018.

Core (non-GAAP) net income totaled $29.1 million for the first quarter of 2019, down $13.6 million from the fourth quarter of 2018 and up $4.6 million from the first quarter of 2018.

Net income for the fourth quarter of 2018 was positively impacted by a $15.3 million tax benefit related to tax rate changes and the favorable outcome of the Company's change in its tax method of accounting for its loan portfolio.


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